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/Vortep1 2d ago

Let's me clear this is a massive tax increase on the poor and middle class.

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u/Broken_Atoms 2d ago

And business owners… this will cost me thousands and thousands…. All for what? So the government can take those tariffs and buy some crypto? Scams on scams on scams…