It all depends on what “liberation” means
[guest post by Dana]
If Bill Clinton could challenge the meaning of “is,” then surely it behooves us to challenge the meaning of “liberation,” since it’s being used to rally the American people. yet I’m certainly not seeing it:
President Trump on Wednesday announced a baseline 10 percent tariff on imports from all foreign countries, as well as higher tariff rates for dozens of nations that the White House deemed the “worst offenders” when it came to trade barriers.
The 10 percent tariff will go into effect on Friday. About 60 countries facing a higher reciprocal tariff will see those rates go into effect on April 9 at 12:01 a.m. Trump also announced a 25 percent tariff on all foreign-made automobiles that will take effect at 12:01 a.m. April 3.
. . .
“***This is one of the most important days, in my opinion, in America’s history,” Trump said. “It’s our declaration of economic independence.”
Claiming he could have gone with a higher amount on countries with reciprocal tariffs (China, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia, Cambodia and the European Union), Trump said he didn’t want to create too much of a hardship. The formula for these countries “will be calculated by combining the rate of tariffs and non-monetary barriers like currency manipulation, then divided in half.”
Karoline Leavitt. . .confirms that the 34 percent tariff on China is ON TOP of the previous 20 percent. So that means the rate on China will be *54* percent when these tariffs take effect.
The White House has published an explainer about why Trump believes the tariffs are a good thing for America.
I can’t even. . .
Off the top of his head, read it and weep:
Trump’s reciprocal tariffs:
1) Impose hundreds of billions of dollars in new taxes on Americans without public/congressional input
2) Are based on secret calculations that have little, if any, connection to actual foreign trade barriers
3) Ignore all US tariff/non-tariff barriers, which in some cases are quite high
4) Are justified by a “national emergency” that reflects a total misunderstanding of how trade deficits work
5) Disregard US trade agreement commitments, including ones made by Trump himself
6) Will make us all poorer, and likely do real & lasting harm to the US economy (incl in manufacturing)
7) Embolden our adversaries around the world
Higher taxes, more trade wars, unilateral tax hikes, etc. I ask you, liberate us from what?
P.S. Isn’t is just a bit on the nose that Russia is not on the White House list, while Ukraine is:
FULL LIST: Liberation Day pic.twitter.com/ZBiRuJBCAr
— Rapid Response 47 (@RapidResponse47) April 2, 2025
(*** – Let’s just bookmark this for later. . .)
-Dana