Trump’s tariffs are here to increase the price of your Switch 2 (and everything else)

Donald Trump did well with his promise on Wednesday to impose extensive tariffs on all goods entering the United States, which is almost universally expected to raise prices for US consumers. Declared by the President of the White House Rose Garden, tariffs will include 10% across the board, with additional tariffs with much higher percentages against countries, which Trump believes are “unfair” to the United States.

“This will be a big moment, I think you will remember today. It will be a free nation that we are dealing with,” Trump said on Wednesday. “We will have a very free and beautiful nation. It will be the day of Liberation in America. And it will be a day where we hope to look back in years and you will say that it is right, it turned out to be one of the most important days in America’s history.”

The Wednesday message was determined by confusion, as no one knew outside the closest Trump advisers what it would actually reveal. At one point, the president raised a chart that reads “reciprocal tariffs” with a large number to a list of countries, but it was not clear immediately what each number meant. Thehe New York Times Considering that each number in the diagram represents the total percentage that will be charged, not an additional number on top of the base line of 10%. For example, if the diagram reads “34%” as the tariff listed in the Trump diagram, it means that there will be a 24% tariff at the top of a 10% base line.

The only exception to this rule is obviously China, where this 34% additional Trump diagram tariff actually lingers with 54%, as a 20% tariff has already been imposed on goods coming from China, according to China, according to CNBCS And to say that such a move would raise prices for everything imported from China seems like an underestimation at that moment.

Trump failed to announce when the tariffs would be introduced, but the reporters understood it long after the performance of the Rose Garden, talking to the White House staff. 10% Basic Tariffs will enter into force on April 5 at 12:01 pm and larger tariffs will take effect on April 9 at 12:01, according to The Wall Street JournalS The newspaper does not specify the time zone, but it would probably be Eastern time.

According to the journal, Trump’s tariffs will be imposed in accordance with the International Emergency Emergency Act, with the Trump regime claiming that the trade deficit is somehow being a national emergency under the law. Trump uses the same pretext to introduce tariffs against Canada and Mexico, claiming that the flow of drugs from these countries is an “emergency”.

According to the Trump diagram shown, the list of tariffs imposed on each country will include:

• China: 34%
• European Union: 20%
• Vietnam: 46%
• Taiwan: 32%
• Japan: 24%
• India: 26%
• South Korea: 25%
• Thailand: 36%
• Switzerland: 31%
• Indonesia: 32%
• Malaysia: 24%
• Cambodia: 49%
• The UK: 10%
• South Africa: 30%
• Brazil: 10%
• Bangladesh: 37%
• Singapore: 10%
• Israel: 17%
• Philippines: 17%
• Chile: 10%
• Australia: 10%
• Pakistan: 29%
• Turkey: 10%
• Sri Lanka: 44%
• Colombia: 10%

Large tariffs for goods from China, Taiwan and Japan would surely increase electronics prices that Americans buy every day. And pulsation effects would be huge, even for goods produced in the United States that use parts obtained from around the world. Exiger, A Data Analytics Firm, Calculats That Trump’s Tariffs Could Cost About $ 600 Billion Per Year, With $ 149 Billion Hiting Goods from China, $ 63 Billion Getting Sl Goods Coming from Taiwan, and $ 36 Billion Added to Goods from Japan, Accrediting to the New York TimesS

Washington Post reporter Jeff Stone Tweet photos of additional pages showing the rates that do not include the Trump diagram that ranged from the lower end such as New Zealand and Saudi Arabia, which were hit with a 10%base to countries such as Laos (48%), Madagascar (47%) and Botswana (37%).

It is amazing that the Trump regime has imposed a 10% tariff for goods coming from the islands of Hurd and McDonald, an Australian territory located between Madagascar and Antarctica. Why is this amazing? Because the islands of Hurd and McDonald are uninhabitedS

Trump charges tariffs as “reciprocal”, including the word in his graphics, but he was wildly presenting what tariffs were actually imposed on the United States and for what reason. For example, Indonesia imposes tariffs for coffee imports, which seems to encourage Trump to put 32% of the tariffs on board all goods coming from Indonesia. But as the author James Suroweans pointed out to X, the United States does not export coffee in Indonesia, so it is in no way “retaliated” tariff. “He literally did not understand the concept of a comparative advantage,” Surezans tweetS

Trump boasted on Wednesday about how he supposedly managed to fight inflation, insisting “we had almost no inflation during my first term”, something that conveniently ignored inflation that would start at the end of his term due to the Covid-19 pandemic. But almost every economist in the world believes that Trump’s new tariffs will increase the prices of everything. The S&P 500 Futures fell 2.2% during Trump’s announcement, according to Wall Street JournalS

Additional tariffs for Canada and Mexico do not seem to be included in the new list, but this may have something to do with the dissatisfaction of selected Republicans in the Senate. Lisa Murkovski of Alaska, Susan Collins of Maine and Kentucky Mic McConnell and Rand Paul Senators Support Support Democratic legislation This will stop Trump’s ability to impose such wide tariffs. It is unclear whether such legislation, which is expected to be taken today, will actually pass. But even if he passed the Senate, he would be dead on his arrival at the House.

The allies of the United States quickly denied the tariffs, including the Australian Prime Minister, which was just hit with the Trump base rate of 10%. Anthony Albanese said tariffs were not the “friend’s act”.

“These tariffs are not unexpected, but let me be clear, they are completely unjustified,” Albanese said according to Sky News AustraliaS “President Trump has relied on reciprocal tariffs. The reciprocal tariff will be zero, not 10%. The administration’s tariffs have no reason to logic and they are contrary to the basis of the partnership of our two nations.”

And it sounds that the Israelis are also not happy with Trump’s new tariffs. Israel has just released all the tariffs for goods in the United States on Tuesday. But the I24News reporter of Israel, Amichi Stein, tweet On Wednesday, economic officials were in a “complete shock” of the White House message that Israel would pay 10% rates.

“We are in shock. We were sure that the decision to completely cancel the US import tariffs would prevent this move. But that didn’t happen,” Stein quoted, cited by employees.

Meanwhile, Trump’s chasing tried to calm everyone. Finance Minister Scott Bensten appeared on Bloomberg television after Trump’s announcement. “I would advise any of the countries to panic,” Bessent said, according to Wall Street JournalS “I wouldn’t try to avenge myself, since as long as I don’t take revenge, it’s the high end of the issue.”

The idea behind Trump’s tariffs (or at least the reason beyond his nonsense for fentanyl entering the country) is that the president wants to produce more goods in the United States, but it can take years for companies to displace their plans to produce goods, and it simply makes no sense for every country to produce everything. The rise of globalization has built up sophisticated supply chains that reduce consumer costs, but Trump thinks it can change all this with its tariff plans.

“If you want your tariff rate to be zero, then you build your product here in America,” Trump said Wednesday.

The American people will know soon enough whether jobs will come back in the United States or whether prices for everyday items just jump. Most economists think this will only be the last. And markets clearly believe the same with stocks Absolutely craters in trade in hours.