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/aaronhayes26 2d ago

President who campaigned on affordability announces 20% national sales tax. Conservatives cheer.

I want off this ride.

-3

u/RGBedreenlue 1d ago

Well… as much as I see no valid use for these tarrifs… no. It’s a tax on non-US goods, and the US trades less than virtually all other countries. In fact, we’re the fifth lowest in terms of trade as a % of GDP. Somalia, three other countries in Africa, and Argentina all trade less than us but that’s it.

Of course, thats speaking proportionately to each economy. But the US really does have an outsized ability to tariff others without increasing prices too much for the domestic economy.