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As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe.

World leaders from Brussels to Beijing rounded on Trump. China condemned “unilateral bullying” practices and the EU said it was drawing up countermeasures.

While Trump timed his Wednesday evening Rose Garden address to avoid live tickers of crashing stock markets, that fate arrived when Asian exchanges opened hours later.

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[-] Treczoks@lemmy.world 16 points 1 day ago

As long as American products are not competitive in international markets, be it because of price, quality, or marketability, there will always be a trade deficit.

Just take cars. The US produces cars basically for the American market only. No other country produces or uses cars like that. But they all produce cars they like, that other countries like, and even Americans like.

American car companies cannot expect to sell goods to other countries that simply have no markets in those countries.

[-] addie@feddit.uk 10 points 1 day ago

From a UK perspective, a lot of US cars would be illegal to drive on public roads here - too large, too dangerous for pedestrians and other road users. "Dangerous" also applies to some of your other potential exports too. Chlorinated chicken, for instance, isn't considered safe for consumption. So the absence of a market for those goods isn't simply "customer preference".

As a European, we've been too dependent on the US on some things for too long. We need to be more independent. The situation in Ukraine has shown that; we need to be able to support our allies better. But the US trashing their own economy, making themselves into global pariahs and handing over their superpower status to China is what I would have described as "not my dream way" of achieving that.

[-] Treczoks@lemmy.world 2 points 1 day ago

Apart from the point that I'm not an American, I consider the issues you raised as part of "marketablility" -- if it is so unsafe that it is illegal here, you can't bring it on the market. But it also includes issues like American cars simply being to big for European roads (I recently had an issue with a US brand pickup truck driver noticing that the car is too big for the city's underground car park. As he was in the queue in front of me, it took a while to sort this mess out).

That we Europeans have to stick closer together is something I preach for decades now, If Trumps tantrums finally helps some European politicians to see the light, so be it. And if this leads to taking down American market dominance at the same time, I'm not going to cry a river.

[-] mooncake@lemm.ee 64 points 1 day ago

Trump is a walking disaster honestly he's got to be the dumbest moron on the planet.

[-] Diddlydee@feddit.uk 7 points 1 day ago

That's an insult to morons. He's a fuckwit, a sentient turd.

[-] Shirasho@lemmings.world 5 points 1 day ago

I wouldn't call him the dumbest, but is certainly one of the most evil and manipulative.

[-] MyOpinion@lemm.ee 61 points 1 day ago

It is almost like the Orange Turd does not know what he is doing.

[-] noride@lemm.ee 41 points 1 day ago

Or perhaps he does and simply isn't being transparent with his true objectives for America. He did say everything was going to plan, after all ...

[-] tiefling 18 points 1 day ago* (last edited 1 day ago)

His handler's goal is to dismantle the US. He doesn't know what he's doing, he just knows he gets to sniff the mushroom every time he follows orders

[-] PointyReality@lemmy.world 17 points 1 day ago* (last edited 1 day ago)

Nah pretty sure that's him just not having the ability to even acknowledge its going to shit. Never admit defeat type of mentality.

[-] OpenStars@piefed.social 4 points 1 day ago

por que no los dos?

[-] resipsaloquitur@lemm.ee 18 points 1 day ago

He knows exactly what he’s doing. Running a protection racket.

[-] floofloof@lemmy.ca 15 points 1 day ago* (last edited 1 day ago)

It's always unclear whether he's deliberately destroying the West in the service of Russia, or whether he's just unwittingly destroying the West in the service of Russia. That's his great mystique.

Although by leaving Russia and only Russia out of these tariffs he may have just made himself a little less intriguing.

[-] ininewcrow@lemmy.ca 48 points 1 day ago

The biggest take away I see from this is how easy it was to remove $2.5 trillion dollars .... yet the world didn't end.

[-] Whelks_chance@lemmy.world 19 points 1 day ago

Check your pension fund

[-] cocomutative_diagram@infosec.pub 9 points 1 day ago* (last edited 1 day ago)

Imagine they go into building trains and tracks!

[-] circuitfarmer@lemmy.sdf.org 25 points 1 day ago* (last edited 1 day ago)

So much winning!

No one wins a trade war. We all get to lose because of one loser (well, plus 70 million other losers).

[-] D_C@lemm.ee 10 points 1 day ago

You should also hold the non voters accountable.

As far as I'm concerned if you didn't vote against him then you're also to blame.

It's a repost of a meme, but damn, there's so many great opportunities for this one:

[-] bravesirthomas@lemm.ee 22 points 1 day ago

I wouldn't say all of them are in turmoil, the US markets have been hit about twice as hard. And most of my European stocks actually went up today.

Lol

[-] ToadOfHypnosis@lemm.ee 22 points 1 day ago

Putin’s puppet Krasnov pushing it as far as he can get away with.

[-] lupusblackfur@lemmy.world 6 points 1 day ago
[-] renamon_silver@lemmy.wtf 5 points 1 day ago
this post was submitted on 03 Apr 2025
304 points (100.0% liked)

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