Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

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[–] 35 points 1 year ago (8 children)

You don't like hearing about made up currency with no backing that's primarily used for pump and dump schemes and money laundering?

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  • [–] 4 points 1 year ago (6 children)

    But arent all fiat currencies made up since there's no gold standard backing them.

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  • [–] 5 points 1 year ago (4 children)

    If I can't pay my taxes with it, it isn't a real currency.

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