This post was republished with permission from Zero Hedge
Four months after President Trump stunned the world and rattled global markets by unveiling “Liberation Day” tariff rates, his latest revisions (read here), announced Thursday, and set to go into effect in a week, sparked fresh global equity futures selling early Friday morning. With an average tariff rate of 15%, the world now faces the highest US levies since the Great Depression days of the 1930s, and these rates are roughly six times higher than one year ago and will certaintly lead to further rejiggering of supply chains.
The new tariff rates are set to take effect in just seven days, starting at 12:01 a.m. ET. A baseline 10% tariff will apply to imports from most countries.
Here’s what you need to know:
10% Global Minimum Tariff imposed across all imports.
Canada: Tariff raised to 35% (from 25%), but goods under USMCA remain exempt.
Switzerland: Tariff increased to 39% (from 31%); Swiss officials criticize the change, citing divergence from prior draft terms.
40 Countries: Imports face a 15% tariff.
12+ Economies: Hit with even higher duties.
China & Mexico: Deadline delayed by 90 days.
The list:
The multi-month wave of tariff threats sparked front-loading of exports, supporting many Asian economies and shielding US consumers from price spikes. However, that could all change…
Commenting on this is Raghuram Rajan, former India central bank governor and chief economist of the International Monetary Fund, who is now a professor at the University of Chicago Booth School of Business, told Bloomberg TV earlier today, “For the rest of the world, this is a serious demand shock,” adding, “You will see a lot of central banks contemplating cutting as the rest of the world slows.”
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
More news on our radar
This is what I voted for. And I haven’t paid ONE CENT more for any of the goods I’ve purchased since April 1. And if someone jacks up the price … I’ll simply go buy it somewhere else, or go without.
Funny thing though … Every time the leftists impose ridiculous increases in the minimum wage … their International economists at the Chicago school of business insist prices won’t rise because the business owners would lose customers. They swear that the business owner will just take less … ewwwww … PROFITS. That the business owners will EAT the cost increases.
But then, they say the opposite thing about … ewwww … Trump’s tariffs.
And let me add that the coordinated, programmed, stock market sell off on April 1 … is now being replicated on Aug. 1. I bought the April DIP heavily … and have made a 20-30% return since then. And I will buy THIS fake dip as well. This is political theatre played out with peoples retirement accounts. Those who are smart-enough to realize this are going to make a LOT of $$$.
Tariffs are a tax on the products you buy and make your life more expensive. Its a tax on you. If zion don was genuinely interested in returning business and manufacturing to the US, he would go back to gold standard and get rid of the fed but his masters also control the fed. More distraction from his ai dystopia handing your personal info stored in the government agencies to the technocracy. Basically google will know about your crabs. Blackrock own alphabet. They rob you through artificial price inflation while they do it.