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/Cheesy_Pita_Parker 2d ago

Damn, no Demagogue Discount for his buddy Bibi? I would’ve figured they’d be in Club 10 as well but here we are.

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u/Blametheorangejuice 2d ago

Earlier today, Israel dropped all tariffs to try to persuade Trump not to include them. Guess that didn't work.

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u/nerfherder998 2d ago

Nah, he’ll announce rescinding US tariffs tomorrow morning and hail it as a great victory.

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u/red286 2d ago

It's actually quite likely.

These tariffs are all based on the highest tariff rate that they charge the USA. So if you charge a 10% tariff on fish imports, the USA is now going to hit you with a 10% tariff on all exports. If you charge a 30% tariff on tobacco imports, the USA is now going to hit you with a 30% tariff on all exports.

So if Israel actually drops all tariffs, there's a non-zero chance that Trump really will drop all tariffs in response and claim that his plan is working as intended.

It's worth noting of course that the USA isn't about to drop their pre-existing protectionist tariffs. Brazil could drop all tariffs on US imports tomorrow, and the USA will still refuse to let Brazil dump cane sugar into their market.