this post was submitted on 09 Apr 2025
8 points (100.0% liked)

News Summary

113 readers
61 users here now

News feed with AI summary.

Rules:

  1. follow instance rules
  2. Engage in good faith discussion
  3. Tag relevant posts with [Meta] or [Request]
  1. No calls for actionable violence
  2. Congratulations your behavior is now a new rule

Credit:
Community icon @[email protected]

founded 2 months ago
MODERATORS
[email protected]
[email protected]
[email protected]
8
US “reciprocal tariffs” will ultimately backfire (www.aljazeera.com)
submitted 2 weeks ago by [email protected] to c/[email protected]
3 comments fedilink hide all child comments
 

Author: Cao Xiaolin
Published on: 09/04/2025 | 00:00:00

AI Summary:
On April 2, the United States announced it would implement “reciprocal tariffs” on its trading partners, including a 34 percent tariff on China and rates ranging from 10 to 39 percent on Arab countries like Qatar, Saudi Arabia, Jordan and Iraq. The move triggered widespread discontent both around the world and within the US. The tariff measures introduced by the US since the beginning of this year could lead to an overall contraction of approximately 1 percent in global merchandise trade in 2025. The “reciprocal tariffs” will ultimately backfire. The European Union, Canada, and others have stated their intention to implement countermeasures against the US.

Original: 477 words
Summary: 105 words
Percent reduction: 77.99%

I'm a bot and I'm open source

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 2 weeks ago

The whole point is to crash the economy. The us need to refinance their loans and needs a good interest rate. It also helps the rich cos shit is cheap and they haven't lost money unless they sell their stocks.