Trump unveils 10% tariff on all imports, plus reciprocal tariffs on dozens of nations

Submitted ⁨⁨1⁩ ⁨day⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://www.npr.org/2025/04/02/nx-s1-5345802/trump-tariffs-liberation-day

Summary

Trump announced a 10% baseline tariff on all U.S. imports and steep “reciprocal tariffs” targeting countries with high trade barriers, including 34% on China, 24% on Japan, and 20% on the EU.

The tariffs begin April 5 and April 9, respectively. Branded “Liberation Day” tariffs, the move claims to boost U.S. manufacturing and fund tax cuts but is expected to raise consumer prices.

Economists warn of recession risks and market instability.

Allies, including Canada and the EU, plan retaliatory tariffs, raising fears of a global trade war.

source

Comments

Sort:hotnew top

oxysis@lemm.ee ⁨1⁩ ⁨day⁩ ago
It’s not fears of a trade war anymore, it is a trade war

source
- Vorticity@lemmy.world ⁨1⁩ ⁨day⁩ ago
  When we have a trade war, isn’t it normally limited to one or a few countries? We should Stat calling this Trump’s World War on Trade.
  
  source
  - jacksilver@lemmy.world ⁨1⁩ ⁨day⁩ ago
    I’m pretty sure it should be “war on trade” like war on terror/drugs.
    
    source
- Andr3w222@lemm.ee ⁨1⁩ ⁨day⁩ ago
  with every nation on earth. good god. hyperinflation here we come.
  
  source
wise_pancake@lemmy.ca ⁨1⁩ ⁨day⁩ ago
Holy shit the stock market tomorrow is going to be a bloodbath

The video was surreal, he was waving that board around like a shitty game show host. The whole thing was absurd.

source
- Andr3w222@lemm.ee ⁨1⁩ ⁨day⁩ ago
  Its going to have a massive hit. investors are getting the fuck out.
  
  source
  - wise_pancake@lemmy.ca ⁨23⁩ ⁨hours⁩ ago
    Wow my portfolio just took a hell of a beating
    
    I did not expect it to be this bad
    
    source
Dragomus@lemmy.world ⁨1⁩ ⁨day⁩ ago
This is what you get when bad education runs rampant in one’s country … Trump, like a lot of Americans, thinks there is only America and some small islands of countries that have no voice of their own but are fully beholden to rules laid down by the USA.

He wants to enforce his own non-dei rules upon France, thinks they will bow to him like vassals.

He demands other countries buy his inferior products, thinks because they don’t want them they are ripping him/the US off by only selling and not buying. Nowhere does he consider why his products are not wanted…

He has a vague idea of tariffs, thinks he can plainly tax other countries and they bow, say thank you and give him his tax-tariff money… No consideration on how the tariffs actually work, where the seller considers business concluded once he is paid and the goods are delivered, so the importing US party actually has to hand over the money coming from his profits to the government.

Because he always scams and grifts his targets Trump never learned what a proper deal is where each side walks away satisfied equally.

source
- Andr3w222@lemm.ee ⁨1⁩ ⁨day⁩ ago
  US exceptionalism is our Achilles heel.
  
  source
- Andr3w222@lemm.ee ⁨1⁩ ⁨day⁩ ago
  This Arrogance in the US has doomed us.
  
  source
DemBoSain@midwest.social ⁨1⁩ ⁨day⁩ ago
My tariffs are the greatest. They’re the biggest ever. Many people are telling me they’ve never seen tariffs this big.

source
- pivot_root@lemmy.world ⁨1⁩ ⁨day⁩ ago
  The Democrats, they don’t like my tariffs. They think it’s too big. “Too much Mr. President, we can’t handle it.” The only thing they can’t handle is America winning. My huge tariffs, they’re going to make America great again. Strong tariffs, strong America. Democrats don’t like it, Canada doesn’t like it, too bad for them. They’re don’t want it because they’re scared of how big and successful my tariffs are. They say it will break them and tear them apart, but we all know better. We know better. They took advantage of us. Biden let it happen. Obama let it happen. And I won against Obama, you know. Numbers never seen before that, except last time, of course. They’re asking us to stop. We don’t stop. You don’t get where I am by being bad at business. We’re making the greatest deal in all of American history today. It’s time we took back what we deserve and “say no to no.” No paying the tariffs? No more military support. No keeping drugs from getting into our borders? No more handouts. We won’t accept no for an answer!
  
  source
Fingolfinz@lemmy.world ⁨1⁩ ⁨day⁩ ago
Anyone that voted for him shouldn’t be allowed to vote anymore. And they should be bullied for life.

source