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Trump aides float 20% tariff on most imports, Washington Post says (www.reuters.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Trump is considering a sweeping 20% tariff on most U.S. imports, according to the Washington Post, as part of the upcoming reciprocal trade plan.

Trump has vowed to target all nations he claims treat the U.S. unfairly.

While no final decision has been made, officials are also discussing using expected tariff revenue for a tax refund or dividend.

Markets are awaiting full details, which Trump plans to announce Wednesday. The administration has already raised tariffs on steel, aluminum, autos, and all Chinese imports.

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[–] sexy_peach@feddit.org 7 points 1 week ago

He is going to tank the world economy

[–] verdantbanana@lemmy.world 6 points 1 week ago

Tariffs and excessive trade restrictions contributed to the decline of the Roman Empire. As the empire expanded, it relied heavily on trade for food, raw materials, and luxury goods to sustain its sprawling territories. However, rising tariffs and taxes on imports disrupted the flow of goods.

https://www.linkedin.com/pulse/tariffs-through-time-romes-fall-reagans-vision-todays-jason-perz-iumwc#%3A%7E%3Atext=The+Roman+Empire%27s+Collapse%2Cits+borders+vulnerable+to+invasions.

[–] Bronzebeard@lemm.ee 5 points 1 week ago (1 children)

Speed running the inevitable Republican economy crash this time around.

[–] verdantbanana@lemmy.world 5 points 1 week ago

Don't forget the Democrat puppets who have been paid off to enable the Republicans