Trump faces backlash from business as tariffs ignite inflation fears

https://www.ft.com/content/3cc26cc1-57e7-44d0-8c09-6c5dec30cc75

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.”

147 points · 6 comments · view on lemmy.world

6 Comments

breakfastmtn@lemmy.ca · 23 pts · 1y (1 reply)

“We pay hundreds of Billions of Dollars to SUBSIDIZE Canada. Why?” He posted on Truth Social. “There is no reason. We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use. Without this massive subsidy, Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State.”

Those posts are so unhinged. Almost a declaration of war.

atzanteol@sh.itjust.works · 5 pts · 1y

I'm still amazed anyone takes this idiot seriously. It's genuinely like I've been taking crazy pills.

jackanoodle@sh.itjust.works · 19 pts · 1y (1 reply)

GLEICHSCHALTUNG

TokenBoomer@lemmy.world · -4 pts · 1y

Bless you. /s

UnprovenMortality@discuss.online · 4 pts · 1y

Nobody wants these except for trump and Russia (and probably China tbh). I can only hope that he get enough backlash that he actually backs down.

breakfastmtn@lemmy.ca · 2 pts · 1y

https://archive.is/mB0xo