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 warn 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%

  • The_Caretaker@lemm.eeEnglish
    4·
    3 days ago

    The overabundance doesn’t just vanish. When the poor have less, the wealthy have more. There may be more homeless people fighting over food but the billionaires will be able to get a fleet of yachts.

    • Initiateofthevoid@lemmy.dbzer0.comEnglish
      4·
      3 days ago

      This is really not true. The wealthy aren’t playing 4D chess with the economy, they are just as short-sighted behind closed doors. The Great Depression fucked a lot of wealthy people up and turned the entire nation against them. It can happen again.

      Edit - and for the record, the abundance does vanish in a depression scenario. Factories shut down, productivity collapses. You can’t build a fleet of yachts without a functioning economy.