this post was submitted on 02 Apr 2025
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Economics

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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.

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[–] [email protected] 5 points 2 days 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!