- cross-posted to:
- politics@lemmy.world
- cross-posted to:
- politics@lemmy.world
- China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
- The ministry criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules.”
- U.S. stock futures and European markets fell sharply on news of the reciprocal tariffs.
If every country he puts tariffs on ends up implementing their own retaliatory tariffs, what would happen?
The rest of the world starts building a new world order and economic system, one that will be a lot less advantageous to the USA than the one they just trashed.
So a tariff is like punching the other guy but also punching yourself, only the US is doing that to a lot of people so all the other countries get hit a few times sure but the US is beating itself black and blue.
The United States descends to the level of economic relevance as South Africa and the rest of the world continues as usual.
Trade tariffs can work if they are used as a scalpel, If they are applied very precisely and explicitly they kind of achieve the desired effect. Trump is just wielding them around like a mallet and is repeatedly hitting himself in the groin while everyone stands at a safe distance away and watches with mild amusement.
Imagine everything currently produced on earth loses about a third of its efficiency/affordability and a large chunk of everything has shortages/unavailability for the next 30 years.
Now imagine with the loss of trade relationships diplomacy slowly returns to that of the dark ages and a new era of war begins.
Things we take for advantage are peace and prosperity.
Umm no the rest of the world can trade with each other just fine it’s just trade involving the states that will be hindered.
Yeah I misread the prompt as if everyone put up tariffs lol.
Look at Cuba. Now look at the US. Now look at Cuba again.
Okay, now image Cuba but without the public health care, housing, jobs programs, and mass transit.
In your exampke Cuba is the rest of the world, not a small backwater embargoed country.
I don’t wanna look away from Cuba 😭
Death to folks who can’t afford to have their basic needs met.
I think they asked about the other countries, not US.
Did they? Unless they edited their comment, it sounds very open to me.