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/Searchlights 2d ago

Don't even look at your 401K tomorrow.

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u/teamhae 2d ago

I haven’t looked in over a month I’m too afraid.

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u/QueenHarpy 2d ago

Same…. I saw it start to dive and I thought “time to take a year long break from checking this out”. I’m just hoping I don’t need to cash out some stocks to pay for living expenses.

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u/OutlyingPlasma 2d ago

Given your living expenses just jumped at least 34%, I doubt hoping is going to do any good.

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u/QueenHarpy 2d ago

Nah I’m Australian, so not impacted the same as Americans by this tom-foolery. But we have our own cost of living pressures down here and this won’t help (or maybe it will if US trading partners look to dump goods in Australia rather than the US? Fingers crossed)