Experts warn aggressive trade measures against US allies will hurt consumers and roil supply chains

Summary

Trump’s new tariffs on Canada, Mexico, and China sparked backlash from business groups, economists, and some Republicans, who warn of rising prices and economic disruption.

The tariffs—25% on Canadian and Mexican imports and 10% on Chinese goods—prompted retaliatory measures from Canada and Mexico.

Critics, including the US Chamber of Commerce, call them a tax on American consumers. Economists estimate a $200 billion hit to the US economy, with inflation rising.

Trump defended the move, even suggesting Canada should become the US’s “51st state.”

  • partial_accumen@lemmy.world
    1·
    3 hours ago

    Meanwhile, we’re discussing actions in this thread that will clearly have consequences, not empty threats.

    You need to read more than the first line of an article, such as this:

    “Defense and security will account for some 40% of all government spending this year - that’s up a quarter - and an investment in guns that’s so heavy, it’s making a mess of the proverbial butter. Prices on basic food staples, such as real butter, are up, way up, so much so there’s even been reports of supermarkets keeping it under lock and key. Inozemtsev says runaway inflation, as well as the tumbling value of Russia’s currency, the ruble, and high interest rates - they’re all indications that sanctions are working, just more slowly than anyone imagined.”