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BumRushDaShow

(150,453 posts) Wed Apr 2, 2025, 04:43 PM Apr 2

Trump announces 10 percent tariffs on all imports, additional taxes for some 60 countries [View all]

Source: Washington Post

Updated April 2, 2025 at 4:44 p.m. EDT

President Donald Trump said Wednesday that he will impose a new 10 percent tariff on all imported goods along with an additional punitive import tax tailored for each of about 60 countries that his advisers say maintain the most unfair barriers against U.S. products.

The president’s long-awaited tariff plan is designed to spur a renaissance in domestic manufacturing and to fill government coffers with tax revenue, even as many economists warn that he is steering the U.S. economy toward slower growth and higher prices. “In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender,” Trump said during a Rose Garden ceremony before an audience of guests, reporters and members of his Cabinet.

The president’s latest trade initiative represents a breathtaking political gamble. After returning to the White House on a wave of public anger over inflation, Trump is now asking voters to put up with a renewed period of rising prices in return for the distant promise of rebuilding domestic manufacturing.

Already, economists are warning that Trump’s tax increase on imported goods will mean sticker shock on some of Americans’ most important purchases, including groceries, cars and homes.

Read more: https://www.washingtonpost.com/business/2025/04/02/trump-tariffs-liberation-day-trade/

No paywall (gift)

Article updated.

Original article -

April 2, 2025 at 4:34 p.m. EDT

President Donald Trump said Wednesday he will impose a new 10 percent tariff on all imported goods along with an additional punitive import tax tailored for each of about 60 countries that his advisers say maintain the most unfair barriers against U.S. products.

The president's long-awaited tariff plan is designed to spur a renaissance in domestic manufacturing and to fill government coffers with tax revenue, even as many economists warn that he is steering the U.S. economy toward slower growth and higher prices. "In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender," Trump said during the Rose Garden ceremony before an audience of guests, reporters and members of his Cabinet.

The president's latest trade initiative represents a breathtaking political gamble. After returning to the White House on a wave of public anger over inflation, Trump is now asking voters to put up with a renewed period of rising prices in return for the distant promise of rebuilding domestic manufacturing.

Already, economists are warning that Trump's tax increase on imported goods will mean sticker shock on some of Americans' most important purchases, including groceries, cars and homes.

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Trump announces 10 percent tariffs on all imports, additional taxes for some 60 countries [View all] BumRushDaShow Apr 2 OP

. BoRaGard Apr 2 #1

Domestic manufacturing Rebl2 Apr 2 #2

Exactly. That manufacturing infrastructure simply doesn't exist anymore, particularly in my industry MANative Apr 2 #5

Exactly Rebl2 Apr 2 #7

Our economy can't compete due to our sky high insurance costs IbogaProject Apr 2 #13

The US population is stagnant, only held up by immigration NickB79 Apr 2 #21

Workforce underpants Apr 2 #29

Also, the expectation is that American workers will be willing to work for $7.50/hr travelingthrulife Apr 3 #47

TSF announces 10% sales tax increase on all imported goods." WestMichRad Apr 2 #3

I think that's the "logic" behind this. PSPS Apr 2 #19

As usual, it doesn't make sense, since tariffs (sales tax) only apply to imports Justice matters. Apr 2 #35

Homes and cars are already out of reach for many amerikans, guess we better start saving up for bigger cardboard boxes. ImNotGod Apr 2 #4

Does that include 10% more on those he already has put tariffs on? Either way it is bullshit. JohnSJ Apr 2 #6

Can't wait for all those people who criticized Biden for the price of eggs. llmart Apr 2 #8

But it is 25% on all foreign made automobiles, which is basically all automobiles. SunSeeker Apr 2 #9

That's what I thought...he backed off on the additional 25% for Canada and Mexico a month ago Bengus81 Apr 2 #10

Trump said it at the Rose Garden today, "25% on all foreign made automobiles." SunSeeker Apr 2 #15

Now I think he says that starts tomorrow. The post market is TANKING. Tesla down almost $16 Bengus81 Apr 2 #16

The car parts tariff is supposed to start May 3rd. BumRushDaShow Apr 2 #23

I didn't know the date but I heard today that it included parts underpants Apr 2 #26

I had a Reuters report OP (they saw it posted in the Federal Register) BumRushDaShow Apr 2 #30

Thanks. I wonder if that includes those who cross borders more than once. underpants Apr 2 #31

All of the particulars haven't been published on the gov trade site yet BumRushDaShow Apr 2 #32

The WH seems to have said that CUSMA treaty products are exempted for up to 30 days Bernardo de La Paz Apr 3 #40

Better stock up on Trump "I did that" stickers for prices on everything IronLionZion Apr 2 #11

Are the stickers made in America? Chemical Bill Apr 2 #22

The stickers our Dem party sells are made in America IronLionZion Apr 2 #33

See how long it takes us to get back to a 2008 economy with this shit. Back to the future Bengus81 Apr 2 #12

Good god this man is fucking evil and drunk with power. Initech Apr 2 #14

He bdamomma Apr 3 #39

Taxation without representation usonian Apr 2 #17

Red coats have become red hats under King Mucus and Been a Dick Arnold. . . . . nt Bernardo de La Paz Apr 3 #41

Does that include hurricanes? GreenWave Apr 2 #18

And the economy goes over the cliff. TomSlick Apr 2 #20

😆 underpants Apr 2 #27

Genius like Wile E. Coyote RazorbackExpat Apr 3 #37

"Those insects, seabirds, seals and penguins have been treating America really, really unfairly" muriel_volestrangler Apr 2 #24

Trump's claims of the tariffs imposed by other countries are, surprise, surprise, complete bullshit muriel_volestrangler Apr 2 #25

Thanks was looking for a summary. His Dairy claims are complete BS underpants Apr 2 #28

Yes. Gaslighter gets to say "Scary 250% tariff!" when it is never actually applied (tRump has said 300%). . . nt Bernardo de La Paz Apr 3 #43

Bogus on the face of it, when a list pretends every country is at 10% or above and most are exactly 10% "tariff charged" Bernardo de La Paz Apr 3 #42

Turns out the figures are "US goods deficit with the country, divided by US goods imports from the country" muriel_volestrangler Apr 3 #46

This is going to kill my business... MadScout Apr 2 #34

"tariff plan is designed" my ass dpibel Apr 2 #36

Those That Rid Us Of These Fetid Fascists Do No Wrong MayReasonRule Apr 3 #38

Tariff Constipation Canada Kid Apr 3 #44

Reply Title: Trump's Reckless Tariffs: A Direct Hit to American Families and Our Economy HoldenTheDemocrat Apr 3 #45