The World Reacts To Trump's Sweeping Tariffs: 'No Basis In Logic'
www.huffpost.com
“Nobody wants a trade war," said one British official.

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.

  • Jhex@lemmy.worldEnglish
    5·
    1 day ago

    That whole story assumes the population of the USA will continue to have the capacity to buy stuff… this assumption is ever less likely as the USA is heading into the worst recession they have ever experienced

    • CileTheSane@lemmy.caEnglish
      5·
      1 day ago

      You have to remember the people doing this are fucking idiots who have convinced themselves they’re smarter than everyone else.

    • Jamini@lemmy.zipEnglish
      4·
      1 day ago

      I recently read an article that suggested the best retaliation would be to stop enforcing US intellectual property in the EU. One of the biggest exports they have is media, if we would stop enforcing their copyright it would cost them a lot of money.

      Depression.

      It’s a depression.