Trump's tariffs send shivers across world markets as economists warn of recession risk
apnews.com
The U.S. president's move has provoked dismay and calls for further negotiations to make trade rules fairer.

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
    171·
    1 day 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
      71·
      22 hours 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. The world will literally extract, refine, process, and build less of everything. You can’t build a fleet of yachts without a functioning economy.

      • Jamini@lemmy.zipEnglish
        2·
        21 hours ago

        The Great Depression fucked a lot of wealthy people up and turned the entire nation against them. It can happen again.

        One might argue it already is happening. Right now. In real time.

        Be safe.

    • CileTheSane@lemmy.caEnglish
      1·
      20 hours ago

      Just like how a rising tide raises all boats, a sinking ship takes everyone down with it. The billionaires think being on the life rafts will make them more wealthy compared to those that are sinking.