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.
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.
This Arrogance in the US has doomed us.
US exceptionalism is our Achilles heel.