Trump’s Trade War May Still Tank The Economy
www.huffpost.com
The U.S. still has higher import taxes than the ones that deepened and locked in the Great Depression, even after Trump's partial backtrack on Wednesday

cross-posted from: https://lemmy.world/post/28080059

Summary

Despite a temporary pause on some tariffs, economists warn Trump’s trade war continues to pose serious risks to the U.S. economy.

Current import taxes now exceed levels seen during the 1930s Great Depression. A Yale analysis estimates a $2.4 trillion tax increase over 10 years, costing households $4,400 more.

Tariffs on Chinese imports have reached 145%, driving up prices and investor anxiety. Markets briefly surged after Trump’s announcement but quickly fell again.

Critics highlight Trump’s deep misunderstanding of trade mechanics and fear long-term economic damage from persistent uncertainty.

  • VeryInterestingTable@lemm.eeEnglish
    9·
    4 days ago

    I would argue that part of the reason his companies bankrupted is because he tried to make as much money for himself as possible. Similar to what he is doing to en entire country right now. Maximising his own profit, just like squeezing a fruit completely dry.