Donald Trump faces backlash from business as tariffs ignite inflation fears
www.ft.com
Experts warn aggressive trade measures against US allies will hurt consumers and disrupt 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
    11·
    1 day 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.”

    • forrgott@lemm.ee
      12·
      9 hours ago

      And, again, that hurts Putin how, exactly? I didn’t say Russia, nor did I mention the Russian people.

      No, sanctions are not working; by punishing the citizens for his actions we are simply adding more fervor to their own state propaganda. But the very real harm the citizenry there are experiencing means nothing to that walking slime.

      I have nothing against the Russian people, nor the people of any other nation. It is possible to separate the actions and views of the sociopathic elite usurpers from the people they pretend to represent.

      This problem is happening everywhere. I stand in solidarity with the working class, no matter where they call home.

      • ubergeekEnglish
        1·
        8 hours ago

        The same way retaliatory tariffs hurt Trump, even though they hurt voters.

        When people get hungry enough, they turn the guns on their masters.

        • forrgott@lemm.ee
          1·
          7 hours ago

          What?!? Hurt Trump??? No. Untold number of us outright lost their life last time Trump was in power. And the rest of us were further disenfranchised. But did that hurt him? Hell no! The ambulatory orange painted turd got reelected!

          Besides, people are already hungry and destitute. What’s actually happening? The ones in need are having their very existence criminalized, or to be blunt, enslaved. Or they die under the blade of a bulldozer while they sleep.

          • ubergeekEnglish
            1·
            7 hours ago

            Last time, we didn’t get smacked by our neighbors and trade partners…