By relying on tariffs and subsidies, the United States is now paying the price for underestimating how tightly its economy is bound to the rest of the world. https://www.japantimes.co.jp/commentary/2025/10/22/world/supply-chain-economics-and-tariffs/?utm_medium=Social&utm_source=mastodon #commentary #worldnews #china #us #chinausrelations #chineseeconomy #useconomy #tariffs #trade #supplychains
Sweeping #tariffs on imports from #Canada, #Mexico & #China went into effect just after midnight Tues, raising #US tariffs to levels not seen in decades & rattling foreign govts & businesses that depend on international #trade.
As of 12:01AM Tues, the #Trump admin added a 25% tariff on all imports from Canada & Mexico. The admin also added another 10% tariff on all imports from China. That comes on top of a 10% tariff on Chinese goods put into effect just one month ago….
https://www.nytimes.com/2025/03/04/business/economy/trump-tariffs-canada-mexico-china.html?smid=url-share
…by altering the terms of #trade between the #UnitedStates & its largest economic partners, the #tariffs will probably rattle #SupplyChains, strain some of the country’s most important diplomatic relationships & add significant #costs for American #consumers & manufacturers.
#Canada, #Mexico & #China are the 3 largest trading partners of the US, accounting for >40% of both US imports & exports last year.
#economy #prices#PersonalFinance#TrumpTariffs #idiocracy#USpol #law