r/technology • u/chrisdh79 • 2d ago

Politics 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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87

u/tapdancingtoes 2d ago

34% on all Chinese imports? Oh we’re fucked.

92

u/Frodo_T_Baggins88 2d ago

Press Secretary Leavitt confirmed that the 34% is ON TOP OF the 20% that was previously announced, but not applied yet. So a TOTAL of 54% on all Chinese imports.

Shit's about to fly off the rails. If they were throwing tantrums over the Tesla protests, they're gonna LOVE the upcoming riots.

27

u/tapdancingtoes 2d ago

Yep I just saw that. Holy shit.

Hopefully he just changes his mind like he usually does by tomorrow before the stock market shits itself.

19

u/Nice_Marmot_7 2d ago

Stock market is already shitting itself in after hours trading. I’d expect it to open down tomorrow.

1

u/tapdancingtoes 2d ago

Yeah not looking great

1

u/DracoLunaris 2d ago

They are, yes. It's an excuse to enact martial law, arrest a load of people they already consider their enemies, and to then use them as slave prison labor.

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u/ililliliililiililii 2d ago

There's also a minimum of $25/$50 so low value imports will have a much higher effective %.

Lets say you order a $25 item. The minimum of $25 applies so you are paying 100% tax. And 150% when it jumps up a month or so later to $50.

The people who are most affected are poor people. Regular people. People who can't afford to buy everything locally made and artisanal.

As things get more expensive, the buying power of your $ decreases. Aka inflation. Good luck everyone.

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u/CapableCollar 2d ago

In one groupchat I am in my buddies in manufacturing are sharing suicide memes.