this post was submitted on 03 Apr 2025
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Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

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[–] b161@lemmy.blahaj.zone 50 points 2 days ago (2 children)

They’re AI generated tariffs. He asked Grok and these are the numbers it spat out.

[–] Zaraki42@lemmy.ca 39 points 2 days ago (1 children)

He's imposing tariffs on uninhabited islands... what a fucking moron...

[–] b161@lemmy.blahaj.zone 55 points 2 days ago (5 children)
[–] HeliumFalcon@lemm.ee 27 points 2 days ago

McDonald's fucked up his order recently which is why their island received tariffs.

He's going to get free hamberders for life when they cave.

[–] Zaraki42@lemmy.ca 9 points 2 days ago (1 children)

True. Those freeloading penguins.

[–] AJ1@lemmy.ca 4 points 1 day ago

they have it hard enough already without tarrifs. wasn't it last year or the year before where an entire colony of emperor penguins had every single chick die that breeding season? that's extremely sad. but sure, hit 'em with tarrifs too, why not

[–] Comtief@lemm.ee 3 points 1 day ago

These penguins managed to put USA into trade deficit with the island somehow?

[–] one_fot_mon@lemm.ee 4 points 2 days ago

Maybe this is some 5D chess move against the rise of penguins

[–] werefreeatlast@lemmy.world 3 points 2 days ago

Give him some credit (not a lot). What if China were to give these penguins cars to resale? Middle men penguins is what they are. They should call the island Midway island, a term invented by his assholness.

[–] Bassman1805@lemmy.world 16 points 2 days ago (2 children)

They're mostly [Trade deficit]/[Exports to US]

Which is a fucking stupid basis for tariffs.

[–] BreadstickNinja@lemmy.world 15 points 2 days ago

It's possibly the most stupid basis for tariffs. The penalty is directly proportional to U.S. reliance on a country's imports. The countries that are the most important suppliers to the U.S. are penalized the most. It's a policy designed to cause maximum reshuffling of production, which maximizes the start-up costs of developing new factories and so on. And those factories are not going to be in the U.S. Import substitution industrialization is a failed policy and it won't work for reindustrialization either.

[–] frezik@midwest.social 13 points 2 days ago

The depth of stupidity of this Administration will be studied by mathematicians for centuries as a new form of fractal.