this post was submitted on 09 Apr 2025
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US “reciprocal tariffs” will ultimately backfire (www.aljazeera.com)
submitted 1 week ago by [email protected] to c/[email protected]
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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.

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[–] [email protected] 3 points 1 week ago* (last edited 1 week ago)

Tariffs are basically GST/VAT (discriminated by county) on your own people.

[–] [email protected] 2 points 1 week 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.

[–] [email protected] 1 points 1 week ago

No shit lol.