this post was submitted on 02 Apr 2025
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Among the reciprocal tariff levels Trump announced:

China: 34%

European Union: 20%

South Korea: 25%

India: 26%

Vietnam: 46%

Taiwan: 32%

Japan: 24%

Thailand: 36%

Switzerland: 31%

Indonesia: 32%

Malaysia: 24%

Cambodia: 49%

United Kingdom: 10%

Rest of the world: 10%

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[–] pleasegoaway@lemm.ee 52 points 22 hours ago (3 children)

The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.

All is going according to plan.

[–] stopdropandprole@lemmy.world 9 points 18 hours ago

in addition to buy low, sell high... perhaps even more lucrative, the crash will be used as an excuse for another massive corporate bailout benefiting the wealthiest business owners and will accelerate the transfer of wealth from govt (taxpayers/poors) to private interests (oligarchs and bankers). this happened in 2008, during Covid PPP, and it will happen again.

[–] brucethemoose@lemmy.world 18 points 21 hours ago* (last edited 21 hours ago) (2 children)

I'm all for "it's benefitting the billionaires," and that's what tariffs do, but most of the ultra-wealthy's money is tied up in the market, too. It's more that this is a regressive tax to fund cuts to progressive taxes, fucking shit up is not the intent.

Some of the administration's actions really are them drinking their own Kool-aid. Like, what they've done to the HHS is objectively detrimental to the ultra-wealthy old guys too. There's some arguments to be had around tariffs, but implementing them Iike this is more on the kool-aid side.

[–] stopdropandprole@lemmy.world 7 points 18 hours ago

wealthy people are not a monolith. some, those with advance warning (insider advantage) will benefit while others lose out. this is not just about rich vs poor, it's also ultra rich vs ultra rich, cabals of powerful elites vying for control of global markets in the chaotic aftermath of global financial restructuring.

[–] barsoap@lemm.ee 9 points 20 hours ago

but most of the ultra-wealthy’s money is tied up in the market, too.

The ultra-wealthy have enough of a buffer to buy out all the middling-wealthy when they go bankrupt. They can buy the dip without themselves going bankrupt.

[–] tikifire@lemm.ee 6 points 21 hours ago

If it crashes badly enough their money will be worthless.