Live updates: Trump announces sweeping tariffs

[randalthor@lemmy.ca]

Among the reciprocal tariff levels Trump announced:

China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%

[randalthor@lemmy.ca]

Cambodia and Vietnam are so fucked. All the Chinese companies shifting production to Vietnam and Cambodia are fucked. Damn. These are very high tariffs.

[flamingo_pinyata@sopuli.xyz]

Is he using a random number generator?

[thejml@lemm.ee]

A lot of people’s lives are about to get more expensive… again.

<butterfly meme> Is this winning?

[shellmonkey@lemmy.socdojo.com]

They'll be reverted as soon as he gets some flattery and palm greasing from the right people.

[nocturnalmorning@lemmy.world]

I mean, this will suck in rhe short term, but these companies will exit the U.S. market if it gets to be uneconomical, and we'll be fucked, not them. Trump's I Am sO sMaRt comments all the time will make him look like an even bigger idiot than he already does.

If we actually want manufacturing in the U.S., give companies incentives to do business here. This is the opposite of incentives.

[randalthor@lemmy.ca]

China and Vietnam are producing a lot of the low cost every day items people use. It's going to hit the lower income people the hardest. Thank goodness I'm in Canada.

[ambiguousprops@lemmy.today]

Most of all, the US is fucked.

[wirebeads@lemmy.ca]

Trump: Meta will invest $500 billion.

Truth: Meta will invest around $60 billion.

Thats a gross mis representation of what’s factually correct in monetary terms.

This fucking asshat is going to sink the American economy. No major company is going to do this. Why would TSMC spend “$500 billion” to build a factory?

Them just paying the tariff would be less than building a new factory. They just need to survive trumps term and frankly, when the U.S. can’t get chips at an affordable price from Taiwan, those tariffs will fall away like a pillar or sandbar high tide.

Absolutely dumbest fucking turd on the planet.

[donjuanme@lemmy.world]

Surprised I don't see Brasil (sp?) on there not surprised I don't see Hungary Turkiye Russia or Israel on there.

[Guest]

I'd love to open the news one evening and not feel like we're another step closer to the apocalypse.

Honestly, fuck Trump. Where my Luigis at?

[randalthor@lemmy.ca]

Rest of the world is 10%. I assume that's what they'll see.

[unmagical@lemmy.ml]

And just like that every American good costs significantly more.

If your family income is less than about $200,000, congratulations, your tax rate has at least doubled.

[quill7513@slrpnk.net]

bamboozle them with bullshit

[guest@feddit.org]

Why is Canada not on the list?

[krashmo@lemmy.world]

What is looking like more of an idiot than he already does going to accomplish? He's the most idiotic politician in living memory, by far, and there are some absolutely colossal morons on that list. The people who haven't figured that out are never going to. They will be praising him until the day they die.

[nuxcom_90percent@lemmy.zip]

It isn't quite that easy.

The US is a MASSIVE part of basically every luxury industry and isn't insignificant in many others. So while alternate trading partners can be found to handle stuff like lumber, plenty of industries are going to be hit real hard and not have alternative customers. And they aren't going to just want to lower their profits for national pride.

But yeah. I REALLY hope trump is just actively destroying the US either in the name of putin or just out of anger and spite over not winning in 2020. Because the alternative is that we are all going to suffer so fucking much because that piece of shit doesn't understand what tariffs are.

[guest@feddit.org]

Does anyone know what the top item is per country above? I guess the number is probably just a dollar weighted average as there are probably different tariffs on different goods.

[resetbypeer@lemmy.world]

The guy is really playing economic Russian roulette. This can consequently go terrible wrong for the US.

[floo@retrolemmy.com]

That’s all this was about anyway