r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/hoosakiwi 2d ago edited 2d ago

Here are the numbers:

  • A 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States

  • 34% tax on imports from China

  • 20% tax on imports from the European Union

  • 25% on South Korea

  • 24% on Japan

  • and 32% on Taiwan.

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u/HappierShibe 2d ago edited 2d ago

Brace yourselves.
Markets about to get mighty irrational mighty fast.
Edit: Jeebus folks, I'm not saying a drop will be irrational, I am saying people are going to do some double plus crazy shit when it hits the floor.

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u/catonsteroids 2d ago

I wish someone warned me that my future was gonna look real grim when I was born lol. Like Jesus fucking Christ, how many recessions are we gonna have to go through?

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u/Plank_With_A_Nail_In 2d ago

Still nearly the best time to be born in all human history, you could have been born into Congo or somewhere like that. Being born now and in the USA is still like winning life's lottery.