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Trump announces 30% tariffs on EU and Mexico, starting Aug. 1
- 7moritz7 1y agoThat means the largest, second largest and third largest regions of origin for US imports now all have ridiculously high tariff rates, on top of the sector and ressource specific ones like on copper Consumer prices will skyrocket in the US unless these are reversed
- raydenvm 1y agoHe may easily cancel it in two weeks. With Trump, it's almost unpredictable how things will go.
- hunglee2 1y agoEU did not get anything from appeasing Trump - Drop Digital Tax - Ponied up war budgets to 5% of GDP (buying mainly US military equipment) - Promise to buy more US LNG Still hit with across the board 30% tariffs, with promise for raise more if there is retaliation.
- defrost 1y agoIt's been good news for Australian <-> Chinese trade, Canadian <-> EU trade. It's a shame US (non elite) taxpayers will bear the brunt of US tariff costs, the only light here is that maybe some of this will hit wallets hard before the US midterms.
- goku12 1y ago> ... the only light here is that maybe some of this will hit wallets hard before the US midterms. This ridiculousness has secondary effects that hit faster than the direct price rise. Just the uncertainty about Trump changing his mind every week has made many importers and exporters nervous enough to indefinitely postpone transactions and shipping. You can imagine the resulting havoc.
- rzzzwilson 1y agoAnother day, another tariff, announced or withdrawn. What else did he get for Christmas?