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.”

  • empireOfLove2@lemmy.dbzer0.comEnglish
    3·
    6 hours ago

    “Wealth” as described in terms of US dollars is just an imaginary accounting measure. And it hasn’t really “meant” anything since the death of Bretton-Woods and the removal of the gold standard.

    That wealth the richest hold is assets. Physical things. Control of physical things. Control of entire populations and their ability to survive.

    The fed could change the accounting to Bitcoin tomorrow and would not change the fact that those top 10 richest men control a vast majority of our nation. But that’s not enough, no, they want to control all of it.