Acc/to Olu Sonola, an economist at Fitch Ratings, the average #US #tariff rate on all imports will be ~22%, a rate last seen around 1910 [you, know what led up to the #GreatDepression]. “This is a game changer, not only for the US economy but for the global #economy,” Sonola said in a statement. “Many countries will likely end up in a #recession.”
…The levies #Trump announced on Wed are separate from the ones he has already imposed on #steel, #aluminum, & foreign-made #cars & parts. Taken as a whole, his tariffs represent a dramatic expansion from the more narrowly targeted duties he imposed in his first term—some of which the Biden Admin retained—& a final nail in the coffin for the open #trading environment that reigned before 2016.
MUSK-Trump MALADMINISTRATION MESSAGE ON THE SELF-INFLICTED SINKING ECONOMY
Mastodon Post
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#democrats #economy #magda #tariffs #useconomy #uspol #uspolitics
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After delivering a potted #economic history of the country in which he bizarrely claimed that the #GreatDepression would have been avoided if high tariffs had been in place, #Trump announced that “reciprocal tariffs” would go into effect on April 9th, w/rates of 34% on goods imported from #China, 24% on #Japan, & 20% on the #EU. Some of the highest rates were reserved for export-led developing countries in #Asia: 46% on #Vietnam, 48% on #Laos, & 49% on #Cambodia.
#economy #recession #geopolitics
«Package of #tariffs unveiled by #Trump..includes exemption 4 #energy sector, clear sign of president’s fealty to #BigOil donors over American people, advocates say
Trump’s new 10% universal tariffs – which r higher 4 many major economies – r wreaking havoc on global #economy & r expected 2 increase consumer prices in US. But levies will not apply 2 many #FossilFuel products: #LiquefiedNaturalGas imprts, crude oil from #Canada, materials needed 4 making #Petrochemicals»
https://www.theguardian.com/us-news/2025/apr/04/trump-exempts-big-oil-donors-from-tariffs
https://www.europesays.com/1969334/ Moldova looking to enhance cooperation with Azerbaijan on energy security – minister (Exclusive) #analytics #Azerbaijan'sNews #BreakingNews #BusinessNews #CaspianNews #CentralAsia #CompanyNews #Economy #FinancialNews #Georgia'sNews #Iran'sNews #Kazakhstan'sNews #Moldova #OilAndGasNews #Politics #TheCaspianSea #TheCISNews #Turkey'sNews #Turkmenistan'sNews #Uzbekistan'sNews #WorldNews
"Experts said Trump’s sweeping border taxes of between 10% and 50% on the US’s traditional allies and enemies alike had dramatically added to the risk of a steep global downturn and a recession in the world’s biggest economy."
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/16
"As world leaders reacted to the US president’s 'liberation day' tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe."
~ Richard Partington
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/15
Brazil cotton prices edge up in March on firm selling, global cues
#politics #brazil #economy
https://www.fibre2fashion.com/news/textile-news/brazil-cotton-prices-edge-up-in-march-on-firm-selling-global-cues-301794-newsdetails.htm
https://www.reuters.com/technology/trump-says-china-could-get-tariff-relief-if-it-approves-tiktok-deal-2025-04-03/ @rbreich Trump liquidating his DJT position and using tariffs to force China to sell TikTok to his billionaire buddies isn’t a coincidence. My conspiracy theory is that crashing the US economy is about getting TikTok, not bringing manufacturing back to the US.
"The pure insanity of Trump’s tariffs is best (ahem) personified by his inclusion of Heard and McDonald Islands, which are inhabited largely by penguins."
~ Marcy Wheeler
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/14
"Business still hasn’t grasped how bad things are. For while tariffs are dominating the news right now, they’re part of a broader pattern of malignant stupidity. It may take a while before we see the effects of DOGE’s destruction of the government’s administrative capacity, or RFK Jr.’s destruction of health policy, but we will see those effects eventually."
~ Paul Krugman
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #stupidity #incompetence
/13
https://paulkrugman.substack.com/p/how-a-con-man-president-is-destroying
#Trump has blown up a half century’s worth of globalization.
THE TRUTH ABOUT DONALD TRUMP’S “LIBERATION DAY”
Trump’s one-man #TradeWar was already hurting the #economy. His expansive new #tariffs will make things worse.
#ETTTTS #inflation #recession #RevengePolitics #PerceivedEnemies #geopolitics #USpol
https://www.newyorker.com/news/the-financial-page/the-truth-about-donald-trumps-liberation-day
https://www.europesays.com/1969316/ US added 228,000 jobs in March as economy showed strength in buildup to Trump trade wars #AlexClark #APTopNews #business #China #CompensationAndBenefits #DianeSwonk #DonaldTrump #EconomicPolicy #Economy #ElonMusk #FederalReserveSystem #GovernmentPolicy #InternationalTrade #JessicaBettencourt #JobsAndCareers #JorgeMarquez #labor #TariffsAndGlobalTrade #TrumpMedia&TechnologyGroup #UnitedStates #UnitedStatesCongress #UnitedStatesGovernment
"Will Trump's policies withstand market turmoil?" Despite a plummet in stock markets tied to his recent tariff escalation, President Trump insists his strategies "will never change." This unwavering declaration amidst financial volatility raises significant questions about the future impact of his trade policies on the U.S. economy. For a deeper understanding, check out the full article. #Trump #Tariffs #Economy #StockMarket https://finance.yahoo.com/news/trump-tells-investors-my-policies-will-never-change-as-markets-plummet-after-his-shock-tariff-announcements-140704607.html
Kudos to the writer for this insightful analysis!
Canada lost 33,000 jobs in March as #unemployment rate rose slightly to 6.7%
> The Canadian #economy shed 33,000 jobs in March according to Statistics #Canada — the biggest loss since January 2022, while the unemployment rate ticked slightly higher, Statistics Canada said on Friday.
> The agency said the unemployment rate also ticked slightly higher, rising to 6.7 per cent in March from 6.6 per cent in February. https://www.cbc.ca/news/business/canada-unemployment-march-2025-1.7501875 #tariffs
Tariffs are extra costs added to things we buy from other countries.
The costs make shopping more expensive.
The costs make it harder for businesses to compete.
When we put tariffs on other countries' products, they put tariffs on ours, which hurts businesses.
Families with less money feel the pain of higher prices the most.
In the end, tariffs can slow down our economy and keep everyone from having better lives.
Nobody wins a trade war.
Despite U.S. tariffs, Brazilian agribusiness sees room to grow
#politics #brazil #economy #geopolitics #UnitedStates
https://valorinternational.globo.com/agribusiness/news/2025/04/03/despite-us-tariffs-agribusiness-sees-room-to-grow.ghtml?utm_source=Twitter&utm_medium=Social&utm_campaign=compartilhar
Why Spanish olive oil could disappear from US shelves https://www.diningandcooking.com/1998944/why-spanish-olive-oil-could-disappear-from-us-shelves/ ##economy #EUROPE #Mediterranean #MediterraneanOliveOil #Olive #OliveOil #spain #tariffs #trade #USA
