about US tariffs & global repercussions:
US president Trump is still addicted to penalty tariffs to be imposed on foreign nations competing with the US in any economic field whatsoever, boasting their immediate coming into effect as a 'Day of Liberation' for America. The repercussions of such tariffs serve him as a proof that he can get anywhere only by pressuring long-standing partners in trade and politics. He might soon find out how wrong he is ....
Latest Economy News on April 4:
The penalties announced by Trump on Wednesday [April 2] triggered a plunge in world financial markets and drew condemnation from other leaders reckoning with the end of a decades-long era of trade liberalization.
But there were conflicting messages from the White House about whether the tariffs were meant to be permanent or were a tactic to win concessions, with Trump saying they "give us great power to negotiate."
The U.S. tariffs would amount to the highest trade barriers in more than a century: a 10% baseline tariff on all imports and higher targeted duties on some of the country's biggest trading partners.
That could jack up the price for U.S. shoppers of everything from cannabis to running shoes to Apple's iPhone. A high-end iPhone [produced in China] could cost nearly $2,300 if Apple passes the costs on to consumers, based on projections from Rosenblatt Securities.
[Reuters on April 4]
At the same time, Trump and his henchman Elon Musk suffered a backset in Wisconsin where latest elections ensured a liberal majority in the State Supreme Court. It didn't even help that Musk offered payments to voters and supporters of Trump's favourite candidate ranging from 100 - 1.000.000 US $. However, buying votes should constitute an illegal interference in any democratic election. Some day, the Trump administration will have to pay the price for it ....
