Donald Trump faces backlash from business as tariffs ignite inflation fears
www.ft.com
Experts warn aggressive trade measures against US allies will hurt consumers and disrupt supply chains

Summary

Trump’s new tariffs on Canada, Mexico, and China sparked backlash from business groups, economists, and some Republicans, who warn of rising prices and economic disruption.

The tariffs—25% on Canadian and Mexican imports and 10% on Chinese goods—prompted retaliatory measures from Canada and Mexico.

Critics, including the US Chamber of Commerce, call them a tax on American consumers. Economists estimate a $200 billion hit to the US economy, with inflation rising.

Trump defended the move, even suggesting Canada should become the US’s “51st state.”

  • Thebeardedsinglemalt@lemmy.world
    5·
    3 hours ago

    And yet my uncle, who started at the very bottom of a family run small business and is now near the top, outright said the orange turd is good for small business.

    Of course, the dude is at retirement age, and works “part time” with a company truck making his full 6-figure salary while recently signing up for Medicare part B to pay for a knee operation.