The world reacts to Trump's sweeping tariffs: 'No basis in logic'

[microwave@lemmy.world]

Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

[givesomefucks@lemmy.world]

It's illogical to expect an illogical man to act logically.

Someone like trump needs hit first to avoid a confrontation.

[inenduringgrowstrong@sh.itjust.works]

If I was Prime Minister, I'd impose a retaliatory tariff of 9000% just because it's all just this stupid.
Call it the Goku tariffs, but drag it out over an hour or two with a lot of screaming.

[Guest]

Putting tariffs on Norfolk Island and Heard and McDonald Islands are particularly funny considering Heard and McDonald Islands only has penguins living there lol.

[wytch@lemmy.zip]

Oh, do you guys think he might be a stupid maniac gosh

[sarcasticman@lemmy.world]

Call a press conference, build up to announcing the 9000% tariff but then end the conference promising to come back next week and make the announcement.

[sgforce@lemmy.ca]

Yo this motherfucker put tariffs on Antarctica?!

[Guest]

Wouldn't it have to be 9001%?

[tisktisk@piefed.social]

shocked_pika
thanks for the honest lol

[Guest]

"No basis in logic"

No shit, this whole administration has no basis in logic. Just look at Project 2025 and the progress they've made on it in a little over 2 months.

[n0body@lemmy.dbzer0.com]

1. Order tariffs
2. Make everything more expensive for everyone everywhere
3. Piss off the entire world and invite countermeasures
4. ??????????????
5. MAGA

[sludgehammer@lemmy.world]

and the price of bitcoin dropped 4.4%.

I cannot express how much I hate that this appears in a serious economic article.

[sludgehammer@lemmy.world]

Shortly after Trump’s announcement, the British government said the United States remains the U.K.’s “closest ally.”

I'm sorry TERF island, that's not gonna keep Trump from stabbing you in the back too.

[cerement@slrpnk.net]

also a 10% tariff on the joint US military base at Diego Garcia …

[cerement@slrpnk.net]

[aurenkin@sh.itjust.works]

Those penguins are trying to rip off America! It's about time they pay their fair share

[aurenkin@sh.itjust.works]

No basis in logic is a nice summary of the Trump administration in general.

[Guest]

PEOPLE OF THE UK!

I NEED YOUR ENERGY TO CHARGE THESE TARIFFS!
AHHHHHHH
\o/

[adarza@lemmy.ca]

ok, then...

i have a huge trade deficit with walmart.

i buy way more from them than they do from me ($1200-1500 a year vs $0); just like the u.s. buys more from many countries than those countries buy from the u.s.

like the leaky diaper's new tariffsimport tax, i should charge myself a ridiculously high extra tax on purchases from walmart until they buy $1200-1500 a year of some mythical product from me to even out the 'unfair' imbalance?

yea. that'll work.

[adarza@lemmy.ca]

penguins like cheetos. i remember that uh.. 'documentary'. we should send 'em a big giant fat one. no charge. just to say 'sorry' for imposing the unfair tariffs on their trade.