All the headlines are following Trump’s messaging of a “pause”, but the fact is that goods imported from practically every country in the world are taxed at 10% and Chinese goods at 125%. These damaging tariffs are all Trump’s doing. Nothing is “fixed”.
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Comments 2
I don't think people realize that in important respects tariffs are now higher & more inflationary than what was announced on last Wednesday.
Since then we've gone from 54% to 125% on China, our 3rd largest trading partner. That outweighs delaying the increases on 70+ others.
And since the beginning of the year have still added 10% across-the-board, 25% on non-USMCA Canada and Mexico, 25% on autos, 25% on steel and aluminum, etc. All of that is still with us.
Average tariff rates still the highest in over a century.
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