Mastodon
U.S. Tariff Obsession Risks Economic Self-Harm, Experts Warn 🌍💥

U.S. Tariff Obsession Risks Economic Self-Harm, Experts Warn 🌍💥

U.S. President Donald Trump's latest push for "reciprocal tariffs" on trading partners has sparked a 🔥firestorm of criticism", with experts warning the move could hurt the U.S. economy more than it helps. The tariffs target countries and regions differently, with rates as high as 49% for Cambodia and 34% for the Chinese mainland.

Tariff Tango: Who Pays the Price? 💸

A chart shared by Trump outlines varying rates: the EU faces 20%, Vietnam 46%, Japan 24%, and India 26%. While framed as a bid to boost U.S. manufacturing, experts argue this 19th-century strategy clashes with today’s interconnected global economy. "It’s like using a flip phone in the age of 5G," said Cui Fan, a trade professor, noting tariffs could spike U.S. prices and strain businesses.

Backfire Alert 🚨

Cui warns the plan could "shoot itself in the foot" by inflating costs for American consumers and companies. Analysts say reliance on outdated protectionism ignores modern supply chains—think iPhones assembled in China with parts from 10+ countries. With global trade already shaky, will this move revive U.S. manufacturing or just ignite more tension? 🌐🤔

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top