this post was submitted on 03 Apr 2025
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Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

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[–] perestroika@lemm.ee 15 points 7 hours ago (1 children)

Trump's government has made the US a village idiot - and if the idiot gets into a fight with the whole village, the idiot will have more bruises.

Why he does that - I don't pretend to understand.

[–] zalgotext@sh.itjust.works 5 points 6 hours ago

He's trying to destroy the country. Amassing as many bruises as possible is the point.

[–] Dearth@lemmy.world 17 points 9 hours ago (1 children)

Someone asked chatGPT how to apply tariffs to give America an equal playing field and it spit it a formula that looks shockingly similar to how trump calculated the tariffs

[–] WhatYouNeed@lemmy.world 8 points 8 hours ago

Try grok and you'll get an exact match.

[–] jaschen@lemm.ee 2 points 5 hours ago

Can we stop winning already? I'm tired of winning so much.

[–] Jhex@lemmy.world 4 points 6 hours ago* (last edited 6 hours ago)

Trump basically ran his mouth, realized he had to drop something, whipped some crap together, took a dump in the living room and left for the golf field... exactly what MAGAtards wanted, hope you are enjoying it

[–] werefreeatlast@lemmy.world 20 points 10 hours ago

Dead horse economics:

Wake up you lazy horse!

[–] Mediocre_Bard@lemmy.world 17 points 10 hours ago

You know what's fun? Cancelling stuff and citing the reason as 'tariff-related inflation'. It's too new and there is no response script yet, so customer service doesn't really argue.

[–] SoftestSapphic@lemmy.world 12 points 10 hours ago (2 children)

The point is to make China the new boot on the throat of the human race instead of the US

[–] yagurlreese@lemmy.world 4 points 9 hours ago (1 children)

no. the US is still the boot

[–] SoftestSapphic@lemmy.world 5 points 8 hours ago* (last edited 8 hours ago)

That's why they installed a Russian asset as president and why he has been destroying the US's global influence and economy for the last 3 months.

[–] eurisko@lemmy.ca 4 points 9 hours ago

I hate the fact that you are correct.

[–] bearenbey@lemm.ee 22 points 11 hours ago (2 children)

Norfolk Island was baffled by a 29% duty despite having no exports.

Ahahaha. For a day, I want to be inside his head and see the world through his eyes. It would be the most valuable insight for humanity... If only to learn exactly what not to do.

[–] Duamerthrax@lemmy.world 7 points 7 hours ago

No thoughts. Only anger at being confused.

More then racism, Trump's appeal is being a simple answer to a complex question. Which happens to mean racism when applied to race relations, but also harebrained economic policies or injecting bleach into yourself. This is the same man who used a sharpy to change the path of a hurricane on a map rather then admit he misspoke.

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[–] Gates9@sh.itjust.works 36 points 12 hours ago
[–] pr0sp3kt@lemmy.dbzer0.com 19 points 11 hours ago (1 children)

So, now $1 per banana is now real, wow. A complete bunch on my country costs that... We are banana exporters we are the banana republic...

[–] jasparagus@lemmy.world 16 points 11 hours ago

It's one banana, Michael. What could it cost? $10?

https://youtu.be/Nl_Qyk9DSUw

[–] yagurlreese@lemmy.world 6 points 9 hours ago (3 children)

what an absolute bafoon. so devoid of thoughts

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[–] Freshparsnip@lemm.ee 25 points 13 hours ago (1 children)

None of Trump's policies have any basis in reality

[–] SLVRDRGN@lemmy.world 8 points 11 hours ago (1 children)

I've been saying this for years - why does anyone listen to him? He has no credibility - his whole life bio shows this clear as day.

[–] WhiskyTangoFoxtrot@lemmy.world 3 points 5 hours ago

Americans are trained from birth to value ignorance as the greatest virtue. Donald Trump represents everything that American culture venerates.

[–] barneypiccolo@lemm.ee 79 points 16 hours ago (5 children)

Have we forgotten that he has done this each month since he was Inaugurated?

Today the stock market will crash on this news. The wealthy will buy on this massive dip, and in a few days, HitlerPig will announce that the countries on his list have responded to his tariff threats, so he is postponing them for a month or so.

The stock market will recover a bit, and the wealthy will make a fortune. In a month, he'll do it all over again.

It's deliberate market manipulation.

[–] Sanctus@lemmy.world 2 points 7 hours ago

And we'll all be destitute for it. Everyone loses when they do this, yes, even they do in the long run. Once nobody can buy a loaf of bread I'm sure we'll collectively decide right at that moment that the rich actually do taste good and maybe they should pay more in taxes.

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[–] HighFructoseLowStand@lemm.ee 21 points 14 hours ago (4 children)

I saw someone say it seems that the tariffs were calculated by dividing our trade deficit by their exports to us and cutting that number in half. Another person analyzed his charts and concluded they look a lot like they were generated by AI.

So, there is, literally no basis in logic. Either one of Trump's minions calculated what it would take to recoup the difference in the trade deficit and just wrote it down and he announced that as the new basis for international trade, which has never, ever been done, for the reason that it is fucking idiotic, or he asked Gemini how to execute his already objectively stupid policy and wrote an Executive Order making it the law.

And the fact that we are forced to accept people on the Internet's guesses about how he calculated these numbers may actually be worse than the fact that just about every product on the market more complex than a stapler just jumped about 30% in price.

[–] bender@infosec.pub 10 points 11 hours ago

They published their “methodology” today, and it’s as dumb as you’d imagine: https://ustr.gov/issue-areas/reciprocal-tariff-calculations

[–] DozensOfDonner@mander.xyz 3 points 9 hours ago (2 children)

I'm dumb but that just means that every product will be 30% more expensive for Americans, right? And the 30% is just... Going to the state or something? So it's just taxing your ppl?

[–] HighFructoseLowStand@lemm.ee 1 points 4 hours ago

Companies will raise prices to account for what they're losing on the tariffs.

[–] ultranaut@lemmy.world 2 points 9 hours ago

Effectively, yes. Tariffs are basically just a sales tax. It's a little more complicated than that but the end result for consumers isn't really any different.

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[–] StopTouchingYourPhone@lemmy.world 19 points 14 hours ago (1 children)

I don't buy that Trump has anything to do with the logic behind this world-destabalizing shock and awe spectacle.

The conversation would be different if people stopped attributing authorship to him and acknowledged the massive decades-old machine using him as a mouthpiece.

But it sure makes people feel smart though. Gives them something to meme about while the people who planned this get the real dirt done. Maybe he'll misspell a country name next... Do another ad for Leon's dinkeys, Israeli beans or something. Stoopid Donald got poopy pance. lol.

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[–] CileTheSane@lemmy.ca 11 points 13 hours ago

So 100% on brand for Trump and America in general

[–] LaunchesKayaks@lemmy.world 1 points 7 hours ago

Rip my year-old IRA

[–] bitjunkie@lemmy.world 29 points 16 hours ago (1 children)

No basis in logic if he were actually trying to do what he says he is. He's not. They make perfect sense if the goal is to destabilize the country. We elected a fucking Manchurian candidate twice, and the in-between term was spent on a bunch of business as usual and not setting up protections in case it happened again. This country is fucking done.

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[–] sommerset@thelemmy.club 6 points 12 hours ago (2 children)

translated some analytics written for Russian audience. from here: https://t.me/s/artjockey

About the Tariffs Today marked the “great day for the USA” previously announced by Trump, as the U.S. has now imposed import tariffs against the entire world. I won't make predictions about how this will affect the global economy, how much the S&P has dropped, and so on. Instead, I want to draw attention to something that might not be immediately obvious.

The newly introduced tariffs can be divided into three parts: economic, political, and protective.

At the core of these tariffs is a baseline 10% duty on all imports. I'm not sure why there’s so much noise around this—basically, Zoomers invented the reusable shopping bag, and Trump has invented VAT. The U.S. has never had a national-level VAT before, only state-level sales taxes. Now, there will be a federal VAT, but only on imports and only at 10%.

There are also clear protective tariffs, intended to give advantages to domestic manufacturers and to motivate foreign companies that want to sell in the U.S. to move production inside the country, so they can stay competitive against local producers. These are 25% tariffs on all imported cars and computers. It’s all fairly straightforward and not worth overanalyzing. Russia has all of this too: VAT, protection for domestic car makers (e.g., AvtoVAZ), and maybe in the future Trump will even “invent” vehicle recycling fees.

In short, Trump could have quietly pushed a 10% import VAT through Congress without much publicity, and you wouldn’t have even seen the news in any headlines. But in that case, he wouldn’t have been able to kick off a series of trade wars.

The most interesting part of the tariffs is their political nature. I think everyone understands that the 54% tariff on all imports from China (a combination of a previous 20% and today’s 34%) is by no means a reciprocal move—it’s a global trade war that could even precede a real war. This was expected; Trump launched a trade war with China during his first term, and the motivations are clear.

What’s far more intriguing are the tariffs against some of America’s allied countries, which, in my opinion, make up a rather unexpected list:

India: 26%

Japan: 24%

EU: 20%

Taiwan: 32%

South Korea: 25%

Israel: 17%

Philippines: 17% (a country hosting U.S. military bases aimed at China)

Meanwhile, countries that didn’t receive tariff increases and stayed at the base 10%, from a global perspective, include:

South American nations: Brazil, Argentina, Uruguay — 10%. Panama also 10%.

Oil-rich Middle Eastern countries: Saudi Arabia, UAE, Qatar, Bahrain, plus Turkey.

AUKUS members: UK and Australia — even though Trump criticized Australia in a speech, no extra tariffs were added.

Africa: Though likely of little strategic interest to Trump for now.

From this differentiation of tariffs, you can infer how Trump views the U.S.’s global strategic direction—a vision that will likely be pursued further.

Notice the low tariffs for South America. Remember how Rubio, right after taking office, made a diplomatic tour across Latin America—something that hadn’t happened in a century? It seems Trump is aiming to “pull Latin America out of China’s hands” and form a U.S.–Latin American alliance in the Western Hemisphere.

At the same time, clear preferences are being given to those joining new U.S. military alliances, as alternatives to the increasingly hard-to-control NATO.

On the other hand, traditional U.S. allies are out of luck. The economies of the EU, Japan, and South Korea—countries that have money but are not considered crucial allies by Trump—are being treated as revenue sources.

This is especially evident in the EU’s case. According to the “Trump Doctrine”, the main rival to the U.S. is China, and the EU is useless in the fight against China. They won’t go to war over Taiwan, nor will they support a likely sanctions regime against the PRC. So, in Trump’s view, they should simply start paying America in hard currency now, with the long-term plan being further deindustrialization and relocating manufacturing to the U.S..

The tariffs will go into effect between April 5 and 9. Based on past experience, I wouldn’t be surprised if they never actually take effect—maybe they’ll be repealed, suspended, or something else. But if nothing changes and the 20% tariffs on the EU, Japan, and others remain in place long-term, then the so-called “golden age of universal prosperity” will likely become a thing of the past for those nations.

[–] bingBingBongBong@lemm.ee 5 points 9 hours ago

Who cares what the russo nazis think

[–] sudoer777@lemmy.ml 1 points 6 hours ago

They should tariff Israel a lot more

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