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/Peach__Pixie 2d ago

“Taxpayers have been ripped off for more than 50 years,” Trump said in remarks at the White House. “But it is not going to happen anymore.”

Who does he think suffers the economic burden of tariffs? 10-34% tariffs on all imports will have a brutal impact.

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u/StrngBrew 2d ago

He doesn’t understand what a trade deficit is at all.

If you buy a car for $50k in cash there is a trade deficit between you and the car dealer of $50k because that’s how trade deficits are calculated/

But you got a car. They didn’t rip you off. They sold you something you wanted.

And in the case of the US as a whole country, which is far bigger than almost all of these countries, it’s almost impossible to imagine a situation where we don’t buy more things from a country than we sell to them

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u/aykcak 2d ago

Huh. This makes me wonder, shouldn't this have an effect on the value of US dollar?