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.

  • WanderingThoughts@europe.pub
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    1 month ago

    There is simple logic in it. Punish everyone, and then let them come to you asking for exemptions. Then he can demand things in exchange. After that it’s “Pray I don’t alter the deal any further.”

    UK already asked for an exemption and he said they should buy chlorinated chicken first. If every country responds in the same way and gives in he’s making bank. If they respond with a boycott on anything American, especially digital services, things get bad.

    • turnip@lemm.ee
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      1 month ago

      Well if hes following Project 2025, which it seems based on recent comments by Elon Musk, then hes expecting other countries to remove all tariffs first. As you say, chlorinated chicken, but if you dont then you dont get to sell your healthy chickens to America, and all that money you owe thats denominated in USD becomes very hard to acquire.

      Maybe the better option is to allow it but to label it with its harmful chemicals, let the free market decide, in a kind of democratic process of people determining their own marginal utility versus budget constraints. You can still buy cigarettes in the UK and Europe as well, so whats a bit of American chicken versus a lifetime of smoking?

      • WanderingThoughts@europe.pub
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        1 month ago

        Then next Trump would just threaten with tariffs again until the labeling had been removed. Then he’ll threaten again for their oversized cars. There won’t be an end to this.

  • Treczoks@lemmy.world
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    1 month ago

    I hope the EU reacts with something non-tariffy. Like forbidding US online platforms to serve ads and collect personal data, with severe punishments if they still do.

    • Ray1992xD@feddit.nl
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      Yes that would be amazing and a great stimulant for EU companies to start developing a competing platform of it’s own (we have BeReal, Dailymotion, Medal and Dumpert, but they aren’t very big AFAIK)

    • Wispy2891@lemmy.world
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      1 month ago

      or something ultra specific that is super easy to source from any other country, to exclusively hurt the american businesses

      • kent_eh@lemmy.ca
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        or something ultra specific that is super easy to source from any other country, to exclusively hurt the american businesses

        That was part of what went into how Canada chose the targets of our first rounds of counter-tariffs.

        Product categories that we also make here, or can easily get elsewhere or can comfortably do without for an extended period of time.

        That combined with a consumer led boycott of anything "made in the USA " and even staunch Republicans like Mitch McConnell are starting to push back against Trump.

      • Fluke@lemm.ee
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        Someone needs to create plugins not to block data being sent, but to send inordinate amounts of trash data.

        Make the whole system pointless.

    • wuzzlewoggle@feddit.org
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      1 month ago

      I recently read an article that suggested the best retaliation would be to stop enforcing US intellectual property in the EU. One of the biggest exports they have is media, if we would stop enforcing their copyright it would cost them a lot of money.

      • samus12345@lemm.ee
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        1 month ago

        Official EU website hosting American-made media for a nominal fee. Can’t tariff data!

      • Treczoks@lemmy.world
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        1 month ago

        Of that I am not convinced. This will work with a lot of smaller countries that don’t have much of a copyright portfolio, but not with Europe.

        • ExtantHuman@lemm.ee
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          1 month ago

          Yeah, but think about the grandchildren of the CEO who bought that IP from the artist‽

          Do you want them to starve have to work for a living?

            • ExtantHuman@lemm.ee
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              1 month ago

              Everything done with skill is art. From Citizen Kane to the design of a candy wrapper.

              • Comtief@lemm.ee
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                1 month ago

                Sure, but that wording becomes detrimental when you only expect high-quality things because that’s what you associate with art, forgetting that there is also entertainment that doesn’t need to be high quality necessarily.

          • ExtantHuman@lemm.ee
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            1 month ago

            That’s a great plan for letting those mega corps steal from the little guy EVEN more than they already do

              • ExtantHuman@lemm.ee
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                1 month ago

                The entities with the established distribution networks will make the money, not the little guy who makes their own little story.

                If I write a little seld published novel, under your system, Hollywood can just take that story and make a movie of it without my permission. How is that better? You think more people pirating will take down these mega corps? Your system is chaos that’s even worse than the current model.

                • yetAnotherUser@discuss.tchncs.de
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                  1 month ago

                  They can do so currently by making a couple of minor changes and settling for a pittance because your lawsuit would bankrupt you.

                  “Chaos” is a better system than one benefitting corporations only.

        • huquad@lemmy.ml
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          1 month ago

          Thats still too long imo. Patents are 20 years, so should every IP protection.

            • huquad@lemmy.ml
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              1 month ago

              Exactly. Especially when you figure in the longer scale up time with an invention. You can’t just flip a switch and start making money.

      • LavaPlanet@lemm.ee
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        1 month ago

        I think a lot of that kind of stuff is going to happen. I don’t think other countries are insulted, as much as they find it ridiculous, and to be ridiculed, I think they’re going to do some inventive chaos. I think we need to be building some world bingo cards, and I’ll bet we won’t guess all the (hopefully hilarious) petty revenges about to snowball.

  • Sludgehammer@lemmy.world
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    Shortly after Trump’s announcement, the British government said the United States remains the U.K.’s “closest ally.”

    I’m sorry TERF island, that’s not gonna keep Trump from stabbing you in the back too.

    • conditional_soup@lemm.ee
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      Heads up, UK, the US will use you as a toilet every chance you give it, and we’ve just dropped all pretense, however thin it may have previously been, about caring about our “allies”. Speaking as a US citizen, I would strongly advise against considering yourself a close friend to the US until we get our shit sorted.

    • Jhex@lemmy.world
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      1 month ago

      The UK already shot themselves in the foot turning their back on the EU… they have no one left, they are done for

    • ByteJunk@lemmy.world
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      1 month ago

      It’s heartbreaking, really.

      The UK is like a kid who just got his face covered in mud by bullies, and goes “aren’t my friends wonderful for playing with me?”.

      • supersquirrel@sopuli.xyz
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        1 month ago

        Well see there is just the problem, TERF island needs more toxic masculinity so the men can be tough!

        /s

  • givesomefucks@lemmy.world
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    1 month ago

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

    Someone like trump needs hit first to avoid a confrontation.

  • Dearth@lemmy.world
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    1 month ago

    Someone asked chatGPT how to apply tariffs to give America an equal playing field and it spit it a formula that looks shockingly similar to how trump calculated the tariffs

  • AidsKitty@lemmy.world
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    1 month ago

    Gold has held up well with new all time highs. You really can’t challenge the classic.

  • BearenBey@lemm.ee
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    Norfolk Island was baffled by a 29% duty despite having no exports.

    Ahahaha. For a day, I want to be inside his head and see the world through his eyes. It would be the most valuable insight for humanity… If only to learn exactly what not to do.

    • WhatYouNeed@lemmy.world
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      It would be like that scene in Braveheart, where the Prince is having servants walk in front of him holding a full length mirror, so he can constantly admire himself.

    • Duamerthrax@lemmy.world
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      1 month ago

      No thoughts. Only anger at being confused.

      More then racism, Trump’s appeal is being a simple answer to a complex question. Which happens to mean racism when applied to race relations, but also harebrained economic policies or injecting bleach into yourself. This is the same man who used a sharpy to change the path of a hurricane on a map rather then admit he misspoke.

  • Bubbaonthebeach@lemmy.ca
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    1 month ago

    UK and Italy are playing Trump’s game. He doesn’t negotiate. He demands tribute and only honours agreements if they are a win for him and he feels like honouring it at the time. Canada has a Trump negotiated trade agreement - the best agreement ever, in his parlance. It is apparently not worth the paper it is written on.
    Countries must negotiate trade agreements - with everyone except the USA. And citizens must support their countries by not purchasing any thing from the USA. As for the few Americans that didn’t vote for Trump, so sorry but your fellow Americans still fully support him. So it isn’t “just Trump”, it is America that is the problem. Trump is simply reflecting who the majority of Americans really are.

  • perestroika@lemm.ee
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    1 month ago

    Trump’s government has made the US a village idiot - and if the idiot gets into a fight with the whole village, the idiot will have more bruises.

    Why he does that - I don’t pretend to understand.

    • Realitätsverlust@lemmy.zip
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      1 month ago

      He’s preparing for an authoritarian takeover.

      Almost every dictator in history enacted massive tariffs so they had a way to control the economy. Loyal businesses are given tariff exemptions while all the other ones are suppressed. That’s what Mussolini did, that’s what Putin did and now it’s what trump does.

      I’ll wonder if that “we need guns to defend ourselves against an oppressive government” statement was true.

      • polycrome@lemmy.world
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        All the guns on the world won’t do any good against a missile. Gun nuts are just waiting for an excuse to shoot their neighbors. Jokes on them because no gun can save them from getting 🗡 In their sleep or getting their food ☠️.

    • BenjiRenji@feddit.org
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      The village idiot has more guns than the whole village together. So I’m not sure he will accept the bruises.

  • Fair Fairy@thelemmy.club
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    1 month ago

    translated some analytics written for Russian audience. from here: https://t.me/s/artjockey

    About the Tariffs Today marked the “great day for the USA” previously announced by Trump, as the U.S. has now imposed import tariffs against the entire world. I won’t make predictions about how this will affect the global economy, how much the S&P has dropped, and so on. Instead, I want to draw attention to something that might not be immediately obvious.

    The newly introduced tariffs can be divided into three parts: economic, political, and protective.

    At the core of these tariffs is a baseline 10% duty on all imports. I’m not sure why there’s so much noise around this—basically, Zoomers invented the reusable shopping bag, and Trump has invented VAT. The U.S. has never had a national-level VAT before, only state-level sales taxes. Now, there will be a federal VAT, but only on imports and only at 10%.

    There are also clear protective tariffs, intended to give advantages to domestic manufacturers and to motivate foreign companies that want to sell in the U.S. to move production inside the country, so they can stay competitive against local producers. These are 25% tariffs on all imported cars and computers. It’s all fairly straightforward and not worth overanalyzing. Russia has all of this too: VAT, protection for domestic car makers (e.g., AvtoVAZ), and maybe in the future Trump will even “invent” vehicle recycling fees.

    In short, Trump could have quietly pushed a 10% import VAT through Congress without much publicity, and you wouldn’t have even seen the news in any headlines. But in that case, he wouldn’t have been able to kick off a series of trade wars.

    The most interesting part of the tariffs is their political nature. I think everyone understands that the 54% tariff on all imports from China (a combination of a previous 20% and today’s 34%) is by no means a reciprocal move—it’s a global trade war that could even precede a real war. This was expected; Trump launched a trade war with China during his first term, and the motivations are clear.

    What’s far more intriguing are the tariffs against some of America’s allied countries, which, in my opinion, make up a rather unexpected list:

    India: 26%

    Japan: 24%

    EU: 20%

    Taiwan: 32%

    South Korea: 25%

    Israel: 17%

    Philippines: 17% (a country hosting U.S. military bases aimed at China)

    Meanwhile, countries that didn’t receive tariff increases and stayed at the base 10%, from a global perspective, include:

    South American nations: Brazil, Argentina, Uruguay — 10%. Panama also 10%.

    Oil-rich Middle Eastern countries: Saudi Arabia, UAE, Qatar, Bahrain, plus Turkey.

    AUKUS members: UK and Australia — even though Trump criticized Australia in a speech, no extra tariffs were added.

    Africa: Though likely of little strategic interest to Trump for now.

    From this differentiation of tariffs, you can infer how Trump views the U.S.’s global strategic direction—a vision that will likely be pursued further.

    Notice the low tariffs for South America. Remember how Rubio, right after taking office, made a diplomatic tour across Latin America—something that hadn’t happened in a century? It seems Trump is aiming to “pull Latin America out of China’s hands” and form a U.S.–Latin American alliance in the Western Hemisphere.

    At the same time, clear preferences are being given to those joining new U.S. military alliances, as alternatives to the increasingly hard-to-control NATO.

    On the other hand, traditional U.S. allies are out of luck. The economies of the EU, Japan, and South Korea—countries that have money but are not considered crucial allies by Trump—are being treated as revenue sources.

    This is especially evident in the EU’s case. According to the “Trump Doctrine”, the main rival to the U.S. is China, and the EU is useless in the fight against China. They won’t go to war over Taiwan, nor will they support a likely sanctions regime against the PRC. So, in Trump’s view, they should simply start paying America in hard currency now, with the long-term plan being further deindustrialization and relocating manufacturing to the U.S…

    The tariffs will go into effect between April 5 and 9. Based on past experience, I wouldn’t be surprised if they never actually take effect—maybe they’ll be repealed, suspended, or something else. But if nothing changes and the 20% tariffs on the EU, Japan, and others remain in place long-term, then the so-called “golden age of universal prosperity” will likely become a thing of the past for those nations.