@realGulDukat Fake news. The proper term is "gold-pressed latinum."

People had been expecting #Trump to announce high #tariffs, but these numbers are stunning. In addition to a 10% tariff on ALL COUNTRIES, dozens of other countries face extra tariffs between 10 & 50%. That will force some manufacturing back into the US, but will also definitely raise costs for American #consumers & #manufacturers & incite #TradeWars on many fronts.

#Trump said #grocery & other #prices are starting to come down, & that his policies are bringing down #inflation. In fact, inflation has picked up in the first weeks of his term, & economists almost universally expect #tariffs to further drive up prices.

#Trump claims that the price #eggs have gone down under his watch after an outbreak of #BirdFlu. But economists warn that #tariffs of the kind that Trump is pursuing are likely to lead to much higher #prices for #consumers. The big question is whether that will translate to persistently higher #inflation.

#Trump is cherry picking a lot of high #tariffs that foreign countries charge on American products. But the US has high tariffs on certain products too, like sugar, footwear, apparel & peanuts, a legacy of efforts to protect those industries. The United States charges 350% tariffs on tobacco from many countries, 260% tariffs on Irish butter substitutes & 197% tariffs on Chinese stainless steel kitchenware, for example.

#Trump talks about the #trade deficits the US has amassed w/other countries and says, “We’re really not taking it anymore.” The trade deficit is the difference between what a country #exports & what it #imports. The #US has long imported more goods than it exports.

Economists don’t agree #TrumpTariffs will really lower the US trade deficit.

#FactCheck #TrumpLies #economy #tariffs #inflation #recession #Trumpcession #geopolitics #USpol
https://www.nytimes.com/2025/02/05/us/politics/trump-us-trade-deficit.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=BDD83014-9AC7-4D03-920E-1AE6DAAAD536

#Trump claims that many countries have targeted the #US w/ “non-monetary barriers,” like currency manipulation, subsidies, exorbitant taxes & theft of intellectual property.

Trump specifically talked about the #EuropeanUnion’s value-added tax, which he has long despised. #VAT rates are common outside of the United States, & the U.S. is actually an outlier for not having one.

@theintercept Can someone #factcheck this please? Is this true? I haven't found absolutely anything about this case. Germany defending genocide is sadly not a surprise. But deporting people for protesting it?! EU citizens?! That's baffling me. And this doesn't seem to be one of those tasteless April fool's joke; the article is from yesterday.