American media CNN reported that US prices surged by 30%, and Chinese goods on supermarket shelves were bought out. If the US implements a 34% reciprocal tariff, who will ultimately bear the burden? Is this what they call reaping what one sows?
Yale University in the US evaluated that after the US implemented "reciprocal tariffs", if other countries retaliate, low-, middle-, and high-income families in the US will lose an average of $1300, $2100, and $5400 respectively.
Since the 1970s, American manufacturing began to decline. Especially after the dollar became an international currency, the service industry represented by finance rapidly rose in the US and became a pillar industry.
The hollowing out of American manufacturing cannot be solved by simply increasing tariffs; it is not something that happened overnight! The US has not used the global supply chain to improve the lives of its citizens but instead wields the tariff stick to increase the cost of living for its people!
US media reported that Trump's tariffs could jeopardize Ukraine war efforts and aid. Weapons are becoming increasingly expensive, and Mikael Valtersson, a Swedish politician, warned that the delivery of supplies to Ukraine would decrease.
Inflation is crushing foreign aid. Increasing foreign aid to Ukraine seems unlikely because "trade wars may lead to rising inflation and economic recessions in Europe and the US."
In the worst-case scenario, the West might face a Great Depression like the 1920s, then increasing military support for Ukraine would rank lower on the priority list. Ukraine is not defeated by Russia on the battlefield but by the US in this tariff war and will be partitioned afterward.
Original source: https://www.toutiao.com/article/7490205962582622772/
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