Trump claims U.S. industry ‘reborn’ as he imposes sweeping tariffs on much-trailed ‘Liberation Day’

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-announcement-taxes-countries-b2726349.html

Posted by theindependentonline

27 comments

  1. The Trump administration will levy an across-the-board tax on all imported goods purchased by Americans and levy additional taxes on imports from countries which officials deem to be placing unfair barriers on the importation or sale of American goods in an effort to forcibly undo decades of globalization and reindustrialize a U.S. economy that has become increasingly dominated by services and knowledge-based work in recent years.

    Speaking at an event in the White House Rose Garden to mark what he has called “liberation day” for weeks now, Trump said Wednesday would “forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again.”

    Read more here: [https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-announcement-taxes-countries-b2726349.html](https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-announcement-taxes-countries-b2726349.html)

  5. Tariffs are bad economics, that is basically what you learn in trade economics. But one also believed that persons who are not worth our attention or worthy to fight with would not become President of the United States.

  6. There is no trade war element to this, it’s just a pure tax on the American people.

  7. What are people thinking? Is this better than expected? Worse?

    The tariff chart (lol) didn’t include Canada or Mexico either. What’s up with that?

  8. We’ve been liberated from a healthy economy, I guess. Recession incoming.

  10. Is this going to be a flat rate on all of the specified countries and a flat 10% on everyone else? I thought surely he’s not stupid enough to have a flat rate on everything, instead the number would be an aggregation of different rates for different types of goods, but then I remembered who we’re dealing with.

  11. I couldn’t help but laugh at the 32% against Taiwan, I’m starting to believe the tech bros that helped get him elected may not be so influential after all. Surely this is terrible for the tech giants already spending astronomical amounts of capex on chips right? Would this not also be ceding the US’s lead in the AI field considering China has spent substantial effort into building domestic chip capabilities, at least until domestic capability is increased in the US (if it ever happens on the scale intended within the CHIPS act)? And ofc this is without getting into the tariffs on other nations in SEA where US companies have shifted manufacturing to in recent years.

    Edit: 32% not 36%

  14. Step 1: Increase import price on everything by at least 10%.

    Step 2: Let Musk dismantle the body of the government that is capable of redistributing that money back to the US citizens.

    Step 3: ???

    Step 4: Profit!!

    Seriously though, this man is doing some sort of a speedrun. I don’t know where he’s headed to, but he is going there fast.

  15. It’s the Orban/Putin playbook. Impoverish the country then point to external and internal enemies. Declare never ending emergencies and stay in power as the only saviour. Meanwhile of course buy on the cheap and rob what you can.

  16. It takes 5 to 15 years to move industries from one country to another.

    But Trump did it in 200 days! Heil Trump!

    /S obviously

  17. > The president unveiled the measures on what he called “Liberation Day,” in an effort to forcibly undo decades of globalization and reindustrialize a U.S. economy

    Ahhh yes, the old self reliance. I believe there’s another great Asian Economy that does that, what do they call it? Juche?

  18. Not a trump fan— anyone else wondering why he would even do this? It’ll plummet his approval rating and he knows it. Almost bipartisan.

    Here’s my thought: Trump’s admin and US elites know that automated factories are coming. It’s a race to develop this tech, one which the US should win. The US needs domestic factories for that.

    Once the US has developed automated factories, China’s monopoly on the global labor market is ruined. Actually, the US could become the world’s hub for manufacturing—with almost zero human labor. This could reshape the global economy and be a “rebirth” for American industry.

    Not saying I like this move, and obviously this isn’t a good thing for manufacturing jobs.

  19. Why did stock market futures go up after this speech?

  20. Congratulations to us, the rest of the world has officially been liberated from the US economy. This is going to be great for the long term health of the economy in Europe as they have a major opportunity, especially in the poorer regions, to build up their own manufacturing and refining sectors. They’ve also got a ton of STEM specialists ripe for the picking to help move it along.

  21. Hope my CEO is happy having donated and probably voted for this baffoon. Everything is slowing to a crawl because of this.

  22. Now ww3 just needs to commence and then I’ll believe that manufacturing will be reborn again 😅

  24. Is it true the US has paid the highest tariffs bs all other countries for 50 some years?
    Or is that just more of his propaganda?

  25. More than the day of US liberation, it is the day of the freedom of the world to the US economy.
    Europe and Canada will make economic deals, and Europe will certainly move closer to China and Asia in general. 

    Americans voted for an idiot, and if they voted for him, that’s what they deserve. 

  27. Who enforces tariffs? I could see they won’t be able to keep up with this flood.

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