Trump's tariffs send shivers across world markets as economists warn of recession risk
apnews.com
The U.S. president's move has provoked dismay and calls for further negotiations to make trade rules fairer.

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%

Rest of the world: 10%

    • 467265654C75696769@sh.itjust.worksEnglish
      60·
      13 days ago

      The following quote from ChrisO_wiki on bsky

      “@chriso-wiki.bsky.social Just figured out where these fake tariff rates come from. They didn’t actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country’s exports to us.” Just about sums it up.

    • CaptainPedantic@lemmy.worldEnglish
      58·
      13 days ago

      No, it’s half the tariff those countries place on American goods. Or so he claims. I have no idea where those numbers come from.

        • CaptainPedantic@lemmy.worldEnglish
          102·
          13 days ago

          He doesn’t understand anything. Here’s what he said about income taxes and tariffs today.

          They established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government

          • catloaf@lemm.eeEnglish
            2·
            13 days ago

            I’m not sure that that’s necessarily wrong. Excise taxes, import duties, etc. have been around for millennia. In the US, the income tax has only been around since the Civil War (which it was created to pay for).

            • Dale@lemmy.worldEnglish
              44·
              13 days ago

              Taxes on citizens have always been used to run the government those citizens live under. Doesn’t matter if it’s base on income or something else.

              The only way to make other countries pay for your government to operate is to invade them and steal all of their resources… like Hitler did.

              It’s really not worth trying to make sense of anything this guy says. He is the definition of a bullshitter.

            • aesthelete@lemmy.worldEnglish
              13·
              13 days ago

              Why would someone run a business exporting goods into a country if they couldn’t charge more than the cost of duties, labor, and materials for the goods?

            • SupahRevs@lemmy.worldEnglish
              1·
              13 days ago

              Don’t forget land sales tax which happened a lot after the Louisiana Purchase and the Gold Rush.