Live updates: Business leaders warn Trump tariffs will raise prices for US consumers
apnews.com
President Donald Trump's barrage of “reciprocal” tariffs shows a willingness to dismantle the global economic system. Business leaders want the tariffs will increase costs for U.S. consumers.

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%

  • pleasegoaway@lemm.eeEnglish
    542·
    21 hours ago

    The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.

    All is going according to plan.

    • stopdropandprole@lemmy.worldEnglish
      9·
      16 hours ago

      in addition to buy low, sell high… perhaps even more lucrative, the crash will be used as an excuse for another massive corporate bailout benefiting the wealthiest business owners and will accelerate the transfer of wealth from govt (taxpayers/poors) to private interests (oligarchs and bankers). this happened in 2008, during Covid PPP, and it will happen again.

    • brucethemoose@lemmy.worldEnglish
      18·
      19 hours ago

      I’m all for “it’s benefitting the billionaires,” and that’s what tariffs do, but most of the ultra-wealthy’s money is tied up in the market, too. It’s more that this is a regressive tax to fund cuts to progressive taxes, fucking shit up is not the intent.

      Some of the administration’s actions really are them drinking their own Kool-aid. Like, what they’ve done to the HHS is objectively detrimental to the ultra-wealthy old guys too. There’s some arguments to be had around tariffs, but implementing them Iike this is more on the kool-aid side.

      • stopdropandprole@lemmy.worldEnglish
        7·
        16 hours ago

        wealthy people are not a monolith. some, those with advance warning (insider advantage) will benefit while others lose out. this is not just about rich vs poor, it’s also ultra rich vs ultra rich, cabals of powerful elites vying for control of global markets in the chaotic aftermath of global financial restructuring.

      • barsoap@lemm.eeEnglish
        101·
        18 hours ago

        but most of the ultra-wealthy’s money is tied up in the market, too.

        The ultra-wealthy have enough of a buffer to buy out all the middling-wealthy when they go bankrupt. They can buy the dip without themselves going bankrupt.