Trump's tariff formula confounds the world, punishes the poor
(www.reuters.com)
from MicroWave@lemmy.world to world@lemmy.world on 03 Apr 17:52
https://lemmy.world/post/27747274
from MicroWave@lemmy.world to world@lemmy.world on 03 Apr 17:52
https://lemmy.world/post/27747274
Summary
Trump’s tariff formula, based on trade deficits divided by export values, has imposed disproportionately high tariffs on poor nations, with Madagascar facing 47%, Lesotho 50%, and Cambodia 49%.
Critics say the method unfairly punishes countries that import little from the U.S. and lacks credible economic basis.
Rich countries like EU members are also affected, with a 20% tariff branded a “colossal inaccuracy.”
Economists and trade experts question whether this mechanical approach leaves room for negotiation, warning it strains alliances and undermines global trade norms.
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That’s the Golden Rule of the US.
“Fuck The Poor”
The golden rule of capitalism, and therefore especially the US, is “Fuck everyone except rich nazis”
No it fucking doesn’t. The rest of the world is not confused or shocked to see this.
Don’t let American media convince you this was a fucking surprise.
The stupidity of the formula when they have access to sone of the best central banking economists and economic models in the world does shock me.
Clearly they’re not leveraging anyone credible to do this. Even if it’s a terrible idea, flying it blind is even dumber.
The results are expected, but it’s the fact that the US President is stupid enough to hurt his own country having the entire country’s resources at his own disposal to know better, is a bit shocking. It’s like stepping on a rake while pointing and looking at it.
If you don't want to be punished, just stop being poor.
That’s what Swiss did. Didn’t help