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Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar (apnews.com)

submitted 11 months ago by TheKetchupSong@lemmings.world to c/world@quokk.au

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His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

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[–] pivot_root@lemmy.world 2 points 11 months ago* (last edited 11 months ago)

A lot of people don't seem to grasp this idea.

If Tramp goes through with his original plan on applying a minimum of 20% tarrifs to all imports, there are exactly zero choices.

Consumers eat the 20% price for imports, and local manufacturers raise their prices to match because they no longer have any competition at their old price point. To make it worse, wherever domestic production isn't able to meet demand, products will still have to be imported.