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submitted 1 week ago by MicroWave@lemmy.world to c/world@lemmy.world

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.

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[-] danc4498@lemmy.world 31 points 1 week ago

I think Trump doesn’t want to trade at all. He wants us to produce everything we need.

[-] biofaust@lemmy.world 42 points 1 week ago
[-] andallthat@lemmy.world 31 points 1 week ago
[-] ProfHillbilly@lemmy.world 12 points 1 week ago

I am really afraid that this is what America is coming to. The problem is that we have a third of the country that supports the Mango Mussolini.

[-] biofaust@lemmy.world 11 points 1 week ago

One can only dream. Joking there is no Resistenza in the USA.

[-] ExtantHuman@lemm.ee 4 points 1 week ago

Well, artificially increasing the price of all the raw naturals we use to make those things will certainly help with that goal...

[-] Cenzorrll@lemmy.world 0 points 1 week ago

I'm actually pretty down with that that. We should be able and ready to produce whatever we need in case another country does what trump is doing or something happens that would prevent trade. If China attacks Taiwan, we should be able to produce our own chips. We should be able to function with as little dependence on other countries as possible.

In no way do tariffs fix that. You invest in yourself, slapping your friends because they're better than you at something is really fucking stupid.

[-] 10001110101@lemm.ee 1 points 1 week ago

Meh, I think it's fine and good for countries to specialize and be dependent on each other. Keeps the peace through mutually assured economic destruction. Global upticks in isolationism preceded the World Wars. Also, it just makes sense, because different countries have different resources, and their populations are differently skilled.

this post was submitted on 03 Apr 2025
647 points (99.1% liked)

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