Experts warn aggressive trade measures against US allies will hurt consumers and roil supply chains

Summary

Trump’s new tariffs on Canada, Mexico, and China sparked backlash from business groups, economists, and some Republicans, who warn of rising prices and economic disruption.

The tariffs—25% on Canadian and Mexican imports and 10% on Chinese goods—prompted retaliatory measures from Canada and Mexico.

Critics, including the US Chamber of Commerce, call them a tax on American consumers. Economists estimate a $200 billion hit to the US economy, with inflation rising.

Trump defended the move, even suggesting Canada should become the US’s “51st state.”

  • bassomitron@lemmy.worldEnglish
    1·
    3 hours ago

    Also, don’t forget that if the USD collapses along with the US itself, that BRIC (Brazil, Russia, Iran, China, etc) have been wanting the world to stop using the USD as trade currency for ages. It is no secret that the MAIN reason the US is still such a powerhouse is because of our stranglehold on the global economy. And the onnnnly way you can change that in the short term, is by destroying the US, it’s global credibility, and its economic stability.

    Elon has always been a conman along with Trump, and the rest of the oligarchy have bent the knee to accepting crypto as a, “viable alternative to fiat.” BRIC setting these traitors up with lots of wealth using semi-anonymous crypto (who’s going the investigate it anyways, all the high tier LE agencies he just gutted) as a means to transfer funds away from the public eye. They don’t even need the USD to transfer the vast wealth.

    As a sidenote: The main reason I think Elon is doing this, is because Tesla will probably fail in the next few years, collapsing his wealth foundation. Its stock value has been grossly overvalued for years (at one point it was valued more than all the other car manufacturers in the world that produce and sell 100x more vehicles than Tesla could ever hope to accomplish). Another possibility could be that he has been trying to rapidly expand Tesla’s manufacturing capabilities, he needs access to a fuckton of lithium for batteries, along with other metals such as cobalt for electronics. Luckily, China has made lots of headway in Africa (e.g. see the ongoing conflict in the Congo where the US is supporting one side and China the other) and central Asia where there are massive rare earth metals deposits.

    The last possibility is just simply because he’s mad and wants to make us all suffer. It really could be that simple.

    Bah, sorry for rambling. It’s all painfully clear, just pay at least some moderate attention to world news and look at what each country’s geopolitical advocacy has been for the last 10+ years and the signs are all there.