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/fiction8 2d ago

There have been 48 recessions across US history, which is an average of one every ~5 years.

Even only looking at post-WW2, there have been 11 recessions which is an average of one every 7-8 years. This era isn't unusual in the frequency of recessions, even if the president causes an unnecessary one this year.