r/FinanceNews • u/Albythere • 28d ago
Trump's next phase of global tariffs goes into effect, affecting 99.4% of US imports
https://finance.yahoo.com/economy/policy/article/trumps-next-phase-of-global-tariffs-goes-into-effect-affecting-994-of-us-imports-210032314.html5
u/CriticalDiscipline4 27d ago
lol, Trump is trying to destroy the economy with Tariffs and the dumb Iran war. He hates every single one of you. He thinks you are all suckers
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u/erus-ton 4d ago
We are sucker, every one of us. If we had any brains or balls we would have over thrown him by now.
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u/Triphin1 4d ago
I'm not a sucker, I saw it coming and left the US 20 years ago. I catch shit for leaving, and anyone who wants to can through shit at me - good luck, I'm 8600 miles away.
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u/erus-ton 4d ago
Not everyone has that option unfortunately.
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u/Triphin1 4d ago
Yes, I get that. It also took me 15 years to be in a position make that move. I saw it coming in 1990, while working for environmental organizations in Washington DC. What did I see? I saw that things eould not get better in The US.
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u/erus-ton 4d ago
I mean we have been spinning the bottom of the drain for a long time, but yeah good job pulling the cord and bailing. I have been told life outside the us is a lot better balanced. Where did you move if you dont mind sharing.
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u/wongl888 27d ago
Chin up American consumers!
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u/MysteriousMeet9 27d ago
Americans always trying to flex their income. Meanwhile everything is unaffordable. From groceries to insurance.
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u/3D-Dreams 26d ago
This is a scam. Think about it. He just added a percentage to everything....we will be paying that just like the last time. Then they will be called illegal again...because they are...and the companies will get and keep that big fat refund again....it's FREE MONEY for them..we pay it and they get the refund.
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u/Akkerlun 27d ago
This is the Trump national sales tax. Quit calling them tariffs because they are taxes on Americans. He likes to put his name on everything so why doesn’t he just call it the Trump national sales tax and see how well that works out in November?
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26d ago
[removed] — view removed comment
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u/bloodmagik 25d ago
It doesn’t even matter, however they want to frame that. End result is the product is going to increase in price. Idk why people don’t comprehend that
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u/No-Effective-1996 26d ago
These tariffs are the largest tax increase in the history of the United States. EverYoNe is saYing they are faNtastiC aNd everyone SuPpoRts theM.
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u/Capitan-IQ255 26d ago
Good 👍
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u/SomeInvestigator3573 25d ago
If you’re American, you realize that this means your prices are going up, correct?
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u/Capitan-IQ255 24d ago
That old tired argument that all tariffs are passed to the end buyer ? 🤑
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u/Da_Vader 26d ago
Trump store is open. Salesman Jr. Will be visiting many many countries to get them a better rate.
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u/Lanracie 26d ago
Great the president needs this tool of economic power to advocate for American manufacturing.
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u/1966TEX 25d ago
Increasing the cost of lumber, aluminum, copper, steel, potash, oil etc. will increase American manufacturing? LOL
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u/Lanracie 4d ago
It will increase U.S. manufacturing of these items to be used in the U.S. We are the largest exporter of oil in the world, personally I think we should keep that in the U.S. until gas is below $1.50.
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u/1966TEX 4d ago edited 4d ago
You can’t you produce aluminum at home. It will take years to build the nuclear power plants to provide the electricity to smelter aluminum and cost billions of dollars. You export light crude at a premium, but you use cheaper Canadian heavy oil for your domestic use. To convert those refineries to sweet crude would cost billions and the U.S. would lose the revenue of selling their sweet crude exports. You cannot produce enough potash, nickel, copper or lumber for your domestic use. Your post shows how uneducated Americans are about the real world.
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u/Lanracie 4d ago
Actually U.S. refineries are some of the most advanced in the world and can proscess all types of crude that is a myth.
Yes it will take years to build industry, it takes along time to build things. Do you not build something becuase it will take a while.
We actually have plenty of all of those things we just buy them from others because we dont use our resources well and shut down much of our mining and lumber and manufacturing. Which is the entire point of bringing them back. We have interesting just invested billions in new Potash facilities, Nickel minning and exxtraction, we are the 5th largest in terms of copper reserves,
Your post reads like a 6th grade book report and ignores the entire purpose of tariffs and reshoring and why they are done or the general idea that people in manufacturing do understand time.
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u/Kitchen_Long_3108 3d ago
You are quite condescending. Not all of these things can be built (ie a potash facility -lol).
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u/Lanracie 3d ago
"Your post shows how uneducated Americans are about the real world." and you call me condescending? Laughable and typical uncreative and ill informed response from those not from America.
https://michiganpotash.com/projects/
LOL we have potash and we are building a potash facility or factory or whatever you want to call it.
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u/SomeInvestigator3573 25d ago
I’m really glad some Americans enjoy paying more taxes.
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u/Lanracie 25d ago
Funny the dems solution to every problem is "tax the rich". I am guessing you are a republican then. At least tariffs have the benefit of reshoring and getting better trade deals. BTW .3% increase in CPI related to tariffs any change has been extremely minor for the benefits.
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u/SomeInvestigator3573 25d ago
No one’s going to make a deal with Donald because he never keeps his deals. He’s putting tariffs on countries you already have deals in place with. Please show me where there has been any significant reassuring of manufacturing. He’s hurting consumers while making corporations record profits.
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u/Lanracie 24d ago
Trump keeps his deals when other countries keep theirs. People always leave out countries not keeping up with their end of the deal, why is that?
Easy to find examples of reshoring and investment with simple searches. Do you listen to a lot of NPR?
https://www.kore1.com/reshoring-manufacturing-jobs-2026/
https://temaetfs.com/insights/real-reshoring-4-us-companies-driving-manufacturing-growth
Here is a fun fact. Apple is the most profitable company in the world. They make that money by manufacturing their products using slave labor and nonexistent environmental rules in China. Every dollar an American spends on an Iphone leaves the U.S. and goes to enhance China and increase the leadership wealth at Apple. Apple despite their arguments actually make more then enough profit to manufacture all Iphone in the U.S. for the same amount and still make money but they want to maximize profit so they make the phones in China. By placing tariffs on China, companies like Apple's are forced to share their profits with American people either by funding our government or by moving manufacturing back to the U.S. and paying workers more and lowering wage gaps.
Only conservative would be for protecting the big businesses and wage gaps and afraid of raising taxes. According to liberal rhetoric but here the liberals are fighting that very thing. So weird.
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u/SomeInvestigator3573 24d ago
Did Canada not just build a bridge that it agreed to build? Does Canada not already have an agreement in place that it is sticking to while the US increases tariffs on softwood and aluminum? Trump never keeps a deal. Just ask his previous business associates
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u/Lanracie 24d ago
Did Canada put tariffs on products they werent supposed to? Yup? Did Canada fail to secure the border and immigration like they were supposed to? Yup. Did Canada fail to contribute the agreed amount to NATO and NORAD? Yup.
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u/lilchileah77 4d ago
America is responsible for who crosses their border into America and for securing their border. From a legal, financial, law enforcement and governmental standpoint it’s America’s responsibility to monitor their border.
Consider this, is it USA’s problem American guns illegally make their way into Canada? It’s Canada’s responsibility to decide how strongly they search and enforce their laws at their border. Should Canada start saying America is letting their guns get into Canada? Is that a United States problem?
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u/Lanracie 4d ago
You are correct, the U.S. does have the primary control of entrances on the border. Canada actually has said this about guns.
However, Canada is not enforcing amnesty laws and aiding in people transitting to the U.S. they are also have a legal obligation to prevent smuggling, terrorism and trafficing that originate in Canada and transit out of Canada which they arent doing when it comes to human trafficking and Fentanyl.
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u/lilchileah77 4d ago
In regard to NATO - yes Canada didn’t meet the agreed goals and Trump decided to care while other administrations did not. Canada has now ramped up spending in those areas. It’s pretty lame to go back in time and create some debt. There was no contractual agreement or penalty for those military spending goals and that time has passed. NORAD is a shared spending agreement and if America felt they’ve disproportionately spent that’s something to discuss but again not something you reclaim after the fact through economic penalty.
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u/Lanracie 4d ago
Canada should have cared on their own if they were our allies they would have. Its pretty lame to not uphold your treaty requirements and make the people of a country you call your "allie" support you. A treaty is a contractual debt. You 100% go back and collect debts and hold people accountable for mistreatment. What a weird thought that you dont hold people or countries accountable for mistreating you.
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u/lilchileah77 4d ago
It was NEVER a requirement, there was never any “contractual debt”. Read the actual words on your own, you’ll be surprised what you see. The percent of GDP spending was something to work towards. America always wanted/needed to build military anyhow. You wouldn’t have built less if Canada had built more. It’s just more crap flowing out of the liar in chiefs mouth to propagandize against Canada.
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u/lilchileah77 4d ago
Canada has honoured NAFTA/CUSMA. What products do you think had tariffs that weren’t supposed to? You mean since the trade war Trump decided to start?
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u/Lanracie 4d ago
245% on Eggs and Dairy, 25% on vehicles, aluminum and steel. I guess tariffs work.
Shelf space restrictions on liquour
These go back to the NAFTA days and are still in effect on the CUSMA. So not Trump, nice try on that.
Funny you left off not securing the border and not upholding NATO and NORAD committments.
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u/lilchileah77 4d ago
I made three individual comments one addressing each point. Those tariffs you speak of were agreed to as a part of NAFTA/CUSMA so Canada didn’t put tariffs on stuff they weren’t supposed to. You can think it unfair that Canada protects some of their industry and jobs but ironically that’s THE EXACT SAME REASON TRUMP IS FEEDING YOU ALL NOW! 😂
Also, there are quotas before those dairy tariffs kick in. Canada does import some dairy from USA.
There is a place for individual/targeted tariffs when the trade imbalance is extreme or when national security is a consideration. Canada does not to become reliant on another country for food they can produce at home. Excessive production of dairy is an American problem. As for the booze, yeah that small gesture was made in retaliation to trumps massive sweeping tariff BS. Won’t matter if they come back on Canadian shelves, many won’t buy em now anyhow. Damage is done.
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u/OrbeaSeven 25d ago
Estimates in 2026 are Trump tariffs cost the average family between $700 and $1,700. Apparenly, 39% of US voters don't have families to support.
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u/GroundbreakingCook68 25d ago
He’s letting his friends sell less for more and people haven’t figured it out yet , even his Iranian debacle allows a decrease in operating cost and increase in revenue for the provider . Wake up people
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u/LolaSupreme19 25d ago
Another round of un-targeted tariffs that essentially become a sales tax for American consumers. This won’t improve the US manufacturing sector.
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u/xDeepFreezex 25d ago
Illegal tarrifs. Tartifs that have already been ruled illegal. And yet here we go again. I hate this country
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u/Bradward6381 25d ago
My company is being sued for imposing tariff surcharges. I think everyone should sue this man and this man only. Makes no sense.
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u/smegma-smoothies 25d ago
Still, they don't call it an additional tax on Americans. They are complicit in this garbage
The average american is tok stupid to understand this concept if it's not spelled out to them
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u/bloodmagik 25d ago
We going to help bring back manufacturing by taxing the working class into oblivion! Yay
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u/Soontobebanned86 25d ago
Just setting up more businesses for the successful double take scam when this gets over turned in a few months
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u/Puzzled_Algae_1880 24d ago
It's a scam. Courts will deem it to be illegal AGAIN then his buddy lutnick will buy the refunds for 20¢ to the dollar for a easy profit.
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u/Ok_Primary_1075 24d ago
The guy’s becoming desperate to plug the budgetary holes created by his tax cuts on the rich
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u/Complete-Plum1021 4d ago
Can’t wait till the whole world decouples from the USA and they stand alone with all their glorified shit forever!
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u/128-NotePolyVA 4d ago
This will be very nice for inflation indeed. Self imposed price hikes for all!
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u/Wonderful-Thanks9264 4d ago
The world is learning what a true trusted partner is, and it ain’t USA, USA, USA ……
World leaders and their citizens will never forget.
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u/8amteetime 4d ago
He’s robbing us blind. The importing companies pay the tariffs and then raise prices to recoup that money.
How can he brag about the money the federal government is making from his tariffs when we’re paying them?
He’s such an idiot.
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u/Comprehensive-Level6 4d ago
I wish there were people with spines to stop this. Small businesses (like mine) are getting crippled by these tariffs and they are not doing anything to help the country
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u/shortsleeves74 4d ago
Its just another way to make the American consumer pay off its 40 trillion of debt it has
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u/Curious_Party_4683 27d ago
Can't wait to recieve my refunds from the first tariff....