⚠️ “Tariff Tsunami Hits U.S.: Trump Declares Trade War, Markets Shake, Consumers Sweat”
🔔 Headline Highlights:
— Historic Tariffs Reintroduced
After a 4‑year hiatus, President Trump has unleashed a sweeping tariff blitz—averaging 15–50% on imports from China, Canada, Mexico, India, Brazil, and more. Rates now rival those of 1934’s Smoot‑Hawley era.
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The Guardian
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— Markets React in Panic
U.S. equities plummeted as $6 trillion—later expanding to $10 trillion in global market losses—vanished in days following the April tariff launch. The S&P 500 slid into bear‑market territory, dragging the Nasdaq and Dow along. The VIX, Wall Street’s fear gauge, surged from 14 to 24.
— Inflation & Producer Pain
Manufacturing costs are surging, especially in steel and autos. Costs may rise up to 4.5%, translating to up to $2,400 more per U.S. household annually. Higher prices for groceries, electronics, cars, and even phones are looming.
AP News
— The Laffer Curve Gambit
Trump invokes the Laffer curve to argue these tariffs maximize revenue without collapsing trade. They've already generated a reported $150 billion—but critics warn excessive rates could collapse revenue instead.
washingtonpost.com
— Political Power Play
According to editorials, Trump’s tariff strategy is driven more by political leverage than economic logic. He’s accused of bypassing Congress and burdening the working and middle class while grabbing headlines.
The Guardian
thetimes.co.uk
— News From the Field
Businesses facing retaliation from China, Brazil and Europe. India targeted with 25% duty on phones, auto parts and jewelry; Canada and Mexico hit especially hard. Brazil responded with viral “vampetaço” memes mocking Trump’s “tarifaço.”
en.wikipedia.org#TrumpTariffs #MarketPullback