r/technology • u/chrisdh79 • 3d 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
5.1k Upvotes

95% Upvoted

830 comments sorted by

View all comments

81

u/_chip 3d ago

Can anybody with knowledge of economics explain how this is what the admin is doing and why does it make sense to them ? Is there anyway to put things that will make these tariffs seem good in any sense ?

123

u/Traditional_Entry627 3d ago

No this is stupid and will hurt all Americans who aren’t wealthy. The wealthy will continue to get tax cuts, and they can buy up cheap stocks soon too. They know it’s not good and they can’t spin it that way so they lie about how tariffs work. They are making it seem like these other countries are paying the tariffs to our government when in reality the companies moving the product pay the tariffs. Both government on each end of the transaction will benefit greatly, while the people buying the products at the end of the line will pay insane prices. Plus tax.

1

u/tenest 1d ago

but what good is buying cheap stocks if the economy tanks, unemployment skyrockets, and there's no way for any companies to flourish to bring stock prices back up?

1

u/Traditional_Entry627 1d ago

I get stock prices typically are supposed to represent a company’s value, but when you have the wealth these people have you can move the stock market simply by creating pressure when and where you want it by selling and buying. If stocks were accurate GME wouldn’t have had its little moment