this post was submitted on 05 Mar 2025
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Donald Trump just imposed a 25 percent tariff on virtually all goods produced by America’s two largest trading partners — Canada and Mexico. He simultaneously established a 20 percent across-the-board tariff on Chinese goods.

As a result, America’s average tariff level is now higher than at any time since the 1940s.

Meanwhile, China and Canada immediately retaliated against Trump’s duties, with the former imposing a 15 percent tariff on American agricultural products and the latter putting a 25 percent tariff on $30 billion of US goods. Mexico has vowed to mount retaliatory tariffs of its own.

This trade war could have far-reaching consequences. Trump’s tariffs have already triggered a stock market sell-off and cooling of manufacturing activity. And economists have estimated that the trade policy will cost the typical US household more than $1,200 a year, as the prices of myriad goods rise.

All this raises the question: Why has the US president chosen to upend trade relations on the North American continent? The stakes of this question are high, since it could determine how long Trump’s massive tariffs remain in effect. Unfortunately, the president himself does not seem to know the answer.

In recent weeks, Trump has provided five different — and contradictory — justifications for his tariffs on Mexico and Canada...

...more in the article.

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[–] TimeChild@sh.itjust.works 13 points 3 weeks ago (2 children)

The big corps can weather the storm, smalls will have to sell, consolidate and monopolize is the plan as I see it

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[–] turnip@sh.itjust.works 12 points 3 weeks ago* (last edited 3 weeks ago) (2 children)

Look at the Project 2025 document, its supposedly written by the heritage foundation but has a section on building a border wall and doing capital punishment. Its clearly crafted by Trump.

Inside it talks about tariffs, using them to force other countries to lower their tariffs against the US. I assume its meant to force a free trade agreement that is 100% free trade, and not a misnomer like it is now, he wants the massive shock so that country are entirely submissive.

[–] nectar@lemmy.world 12 points 3 weeks ago

You think trump is capable of not just coming up with the worst political takes known to man, but also is even aware of that much policy?

I think you give him way more credit than he deserves

[–] drmoose@lemmy.world 6 points 3 weeks ago

Seems like it's not going according to plan then huh. US opponents are anything but submissive right now. I don't think US has the capacity for a long game.

[–] Floon@lemmy.ml 11 points 3 weeks ago

The chaos is the point: make nothing normal, make nothing certain, and he can be free to do anything.

[–] cyberpunk007@lemmy.ca 11 points 3 weeks ago (1 children)

Am I the only one surprised at how low the cost per household could be? I keep thinking it should be quite a bit higher.

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[–] beejboytyson@lemmy.world 11 points 3 weeks ago (1 children)

Trump said he would annex canada. Either he really knows or he really doesn't. I believe the latter. I also believe he's just doing what elon tells him to do.

[–] Crikeste@lemm.ee 8 points 3 weeks ago (1 children)

Trump saying absolutely ridiculous things is just another day. Justin Trudeau, on the other hand, saying the United States will never annex Canada? Now that’s some fuckin’ rhetoric.

Same with China. They outright said “we are ready for war in every shape possible.”

The state of things is absolutely fucked lmfao

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[–] HawlSera@lemm.ee 10 points 3 weeks ago

Because at his age it was easier than getting penis-enlarging surgery.

[–] blazeknave@lemmy.world 9 points 3 weeks ago (2 children)

I don't get the $1200 #... If every component of my purchase goods is 25% higher to the manuf passed to me, shouldn't it be 25% of my annual spend?

[–] realitista@lemm.ee 12 points 3 weeks ago (1 children)

Not every good is imported. Not every country has tariffs leveed against it.

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[–] itslilith@lemmy.blahaj.zone 10 points 3 weeks ago (2 children)

25% on top of the old price, for goods not produced domestically. Assuming that's all of them, that'd be 25% of your spend going towards products (Services are part of your spend, but don't get tariffed), indeed. But some things get produced in the US, so I imagine they factored that in there. For the average household, this seems to amount to about $1200/a

[–] DarkDarkHouse@lemmy.sdf.org 10 points 3 weeks ago

Not arguing with you, just want to point out 25% is the new tax but that doesn’t mean the price is only going up 25%.

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[–] leraje@lemmy.blahaj.zone 8 points 3 weeks ago

Techbro led gvmt - move fast, break stuff. Chaos leads to opportunity to profit, by which I mean him and his class to profit.

[–] iCreativity@feddit.org 8 points 3 weeks ago (1 children)
[–] asdfbla@lemmynsfw.com 7 points 3 weeks ago

Of course he knows. The goal is to crash the economy so the people who still have money when everyone lost theirs, i.e. the oligarchs, can buy up all these assets/companies that went bankrupt. And in the future when the markets recover, they have even more power. Losing a couple billion now is nothing in comparison to the long term gain

[–] lmmarsano@lemmynsfw.com 7 points 3 weeks ago

The guy who said he'd build a wall & Mexico would pay for it doesn't know why he started a trade war?

That's a shock.

Also Trump: Has anyone seen my tan spray? Sir, you left it in the fridge again. Here. That's not it, that's barbecue sauce!

[–] schnurrito@discuss.tchncs.de 5 points 3 weeks ago

I don't think Trump knows very much about anything he's doing, whether this or anything else.

(Incidentally, this also means I don't think he's doing most of the bad things he's doing out of malice or dictatorial ambitions. He just has no idea about anything he's doing.)

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