#TrumpTarrifs
*Tariff Negotiations?*
- I'll send out letters stating the tariff numbers you'll pay to trade with us
- If anyone imposes retaliatory tariffs, I'll add their rate on top of the tariff number in the letter
- Anyone trading with BRICS will face an extra 10% tariff
* In our country, this is called 'extortion,' not 'negotiation.' *
He imposed absurdly high tariffs and then announced that they couldn't manage negotiations by a self-imposed deadline.
He repeatedly plunges the world into uncertainty. Mutual agreement takes years to forge...
Global trade should be conducted differently – barriers should be removed, not erected.
Of course, this is while protecting one's own economy, but that's not what's happening now.
The escalation of a trade war leads to nothing good. Only to higher prices for customers and increased inflation.
Also, to the need to find new markets.
Ultimately, higher tariffs can lead to a decrease in the volume of goods and even lower overall revenues.
The FED has so far tried to maintain balance, but even over them, clouds are gathering ☹️
So we'll see – hopefully sooner rather than later...
Either we'll call him a 'genius' and his face will be the fifth on Mount Rushmore (which he very publicly desires), or hopefully, we'll forget and repair the damage as soon as possible.