Trump’s Trade War May Still Tank The Economy
www.huffpost.com
The U.S. still has higher import taxes than the ones that deepened and locked in the Great Depression, even after Trump's partial backtrack on Wednesday

Summary

Despite a temporary pause on some tariffs, economists warn Trump’s trade war continues to pose serious risks to the U.S. economy.

Current import taxes now exceed levels seen during the 1930s Great Depression. A Yale analysis estimates a $2.4 trillion tax increase over 10 years, costing households $4,400 more.

Tariffs on Chinese imports have reached 145%, driving up prices and investor anxiety. Markets briefly surged after Trump’s announcement but quickly fell again.

Critics highlight Trump’s deep misunderstanding of trade mechanics and fear long-term economic damage from persistent uncertainty.

      • Joncash2@lemmy.ml
        3·
        15 days ago

        Sort of? Bonds will be safer, however it also is incredibly dependent on the forward inflation. The flation part of stagflation. If inflation outstrips your bond’s interest, you’re still losing money. So bonds are way safer than other assets, but sadly in this kind of a situation not really safe either.

          • Joncash2@lemmy.ml
            3·
            15 days ago

            That’s not a bad way to put it. Yes, and bonds will sink slower. It just still will sink. I mean, if I were investing at all, it’d be in bonds. However, I’m not going to pretend it’s safe either.

    • gravitas_deficiency@sh.itjust.worksEnglish
      4·
      15 days ago

      I see it as only a matter of time before the world moves away from the USD standard to the Euro.

      To that end, I’ve opened a European bank account and have begun depositing cash in euro denominations for when (not if) I eventually need to get the fuck out of here.

      • Psycoder@lemmy.world
        1·
        15 days ago

        Where and how did you open bank account in Europe? I tried this but they refused to create a bank account saying I need to be there.

        Which bank was it?

        • gravitas_deficiency@sh.itjust.worksEnglish
          1·
          15 days ago

          There is an international no-brick-and-mortar bank called Wise that will let you do that and convert your deposits to other currencies within your accounts. I dug into them a bit a few days ago; they appear to be an established player and, afaict, legit.

  • Jaysyn@lemmy.world
    171·
    15 days ago

    Trump’s just following Putin’s orders.

    That’s what MAGA voted for, after all.