Dipshit levels historically high tariffs on virtually all U.S. imports
April 2, 2025: Trump issued an executive order declaring a national economic emergency and levying tariffs on goods imports from virtually all U.S. trading partners, at a minimum of 10% but significantly higher for major trading partners.
April 5, 2025: Tariffs take effect.
On April 2, 2025, President Trump issued an executive order titled, “Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits.” The order declares a national economic emergency over large and sustained U.S. trade deficits—the difference between how much the United States sells in exports to the rest of the world and how much it buys in imports. Invoking a variety of emergency legal authorities, the order invokes significant taxes on goods that Americans purchase from abroad, also called tariffs.
While the word “reciprocal” might imply these tariffs are meant to match in some way trade barriers to U.S. exports, the actual calculation of each country-specific tariff has no relation at all to genuine trade barriers. For each country, the “reciprocal tariff rate” is calculated as one-half multiplied by the bilateral trade deficit the United States runs with the country divided by the value of U.S. imports from that country. There is no information at all about legal or regulatory barriers or tariffs on U.S. exports that is reflected in this formula – it is functionally arbitrary in setting the reciprocal tariff levels.
https://www.epi.org/policywatch/president-trump-levels-historically-high-tariffs-on-virtually-all-u-s-imports/
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what a bunch of fucking TRUMP WHORES the GOP has become 