this post was submitted on 03 Apr 2025
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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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[–] ThraawnSolo@lemmy.dbzer0.com 23 points 1 week ago (11 children)
[–] MrScottyTay@sh.itjust.works 17 points 1 week ago

Seems to be what a lot of the far right want. It's essentially what Brexit has done to us in the UK

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[–] StopTouchingYourPhone@lemmy.world 22 points 1 week ago (1 children)

I don't buy that Trump has anything to do with the logic behind this world-destabalizing shock and awe spectacle.

The conversation would be different if people stopped attributing authorship to him and acknowledged the massive decades-old machine using him as a mouthpiece.

But it sure makes people feel smart though. Gives them something to meme about while the people who planned this get the real dirt done. Maybe he'll misspell a country name next... Do another ad for Leon's dinkeys, Israeli beans or something. Stoopid Donald got poopy pance. lol.

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[–] HighFructoseLowStand@lemm.ee 22 points 1 week ago (8 children)

I saw someone say it seems that the tariffs were calculated by dividing our trade deficit by their exports to us and cutting that number in half. Another person analyzed his charts and concluded they look a lot like they were generated by AI.

So, there is, literally no basis in logic. Either one of Trump's minions calculated what it would take to recoup the difference in the trade deficit and just wrote it down and he announced that as the new basis for international trade, which has never, ever been done, for the reason that it is fucking idiotic, or he asked Gemini how to execute his already objectively stupid policy and wrote an Executive Order making it the law.

And the fact that we are forced to accept people on the Internet's guesses about how he calculated these numbers may actually be worse than the fact that just about every product on the market more complex than a stapler just jumped about 30% in price.

[–] bender@infosec.pub 12 points 1 week ago

They published their “methodology” today, and it’s as dumb as you’d imagine: https://ustr.gov/issue-areas/reciprocal-tariff-calculations

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[–] charade_you_are@sh.itjust.works 21 points 1 week ago* (last edited 1 week ago)

He's got that dementia infused vindictiveness against the people who want him dead

[–] theacharnian@lemmy.ca 19 points 1 week ago (1 children)

Vlad Vexler makes the point that the point of is not at all economics but that it does have a basis in logic: it is about asserting that he can do this, that his political power is above economic rationality. It is a political move, not an economic play.

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[–] Naevermix@lemmy.world 19 points 1 week ago (1 children)
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[–] givesomefucks@lemmy.world 16 points 1 week ago

It's illogical to expect an illogical man to act logically.

Someone like trump needs hit first to avoid a confrontation.

[–] Azwing@lemmy.world 14 points 1 week ago

Dumb man does dumb thing he considers a race and insists he won.

[–] Dragonstaff@leminal.space 13 points 1 week ago

The "Empires last 250 years" thing is bad history and not really supported by fact...but...

[–] SoftestSapphic@lemmy.world 13 points 1 week ago (3 children)

The point is to make China the new boot on the throat of the human race instead of the US

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[–] Jhex@lemmy.world 12 points 1 week ago

"No basis in logic" will be both the title of Trump's time in office and the reason why the USA collapses

[–] CileTheSane@lemmy.ca 11 points 1 week ago

So 100% on brand for Trump and America in general

[–] Drusas@fedia.io 10 points 1 week ago

What the fuck did they expect?

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