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%

  • sudoer777@lemmy.mlEnglish
    114·
    21 days ago

    “The corporations own the government” made sense for a while, but Trump has done enough to hurt said corporations lately that I’m actually starting to question that idea (it’s definitely true for the majority of Democrats though).

    • Treczoks@lemmy.worldEnglish
      8·
      21 days ago

      The corporations thought they own the government. They bought Trump into the White House. They should have known that he is mad.

      • zer0nix@lemm.eeEnglish
        3·
        21 days ago

        The owners of the corporations own the govt. They are loyal to no company and no country. They can take their money anywhere, but so long as they are in the us they would prefer that the tax burden be shifted onto the people and off of them, with as few restrictions as possible on their own behavior.

        The owners are still quite happy with trump. It’s all of the littler con voters who are hopefully now reconsidering their vote.

        • uienia@lemmy.worldEnglish
          4·
          21 days ago

          Yeah remember that the billionaires got richer during the economic cooling caused by covid

      • ThePyroPython@lemmy.worldEnglish
        2·
        21 days ago

        Nope they should have realised that even though they “own” this government, the president is communicating with a foreign server they don’t own.

    • iii@mander.xyzEnglish
      2·
      21 days ago

      The only real reason I can think of

      It’s mercantillism, a well studied subject.

      • sudoer777@lemmy.mlEnglish
        1·
        21 days ago

        Domestically, this is what will happen, but those corporations are also multinationals and get a large amount of money from doing business outside the US. What Trump is doing with the sort of threats he’s making to US allies is causing their reputation to plummet abroad along with their revenue. This can only go so far before competitors from EU and China take their spot and they lose all international relevance. Additionally, the tariffs will put them at a disadvantage in the global market compared to corporations outside the US which is further contributing to their loss in revenue. So if Trump’s main interest was in helping those corporations, I doubt he would be doing this.