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US Economy In Free Fall As Europe Considers Going Nuclear Over Tariffs #usa #america

The Stock Market is crashing! The day is just beginning and it’s already lost over 2 trillion dollars worth of value. And the value of the dollar is falling too. The odds of a recession are rapidly rising. Bank of America now sees a “high risk” of recession. JPMorgan says that if Trump’s tariffs are sustained, they will push the US in a recession. And the trade war is just beginning. The EU says the door is open for last-ditch negotiations, but that they are readying countermeasures. Germany and France think that the strategy should be to hit the US so hard that Trump has to remove the tariffs. They’re reportedly considering using nuclear options which range from blocking US tech companies from the European market, taxing US banks, and stripping American companies of their intellectual property rights. France says that Trump is acting like he’s the “master of the world” and has urged European companies to halt all investment in the US. The Treasury Secretary Scott Bessent says that if countries retaliate to these tariffs, the US will escalate. But countries are already retaliating because they’re being hit with tariffs randomly, these are not “reciprocal” tariffs. The tariff rates that Trump presented yesterday are not actual tariff rates - South Korea does not have a 50% on the US, its tariff is 0.79%. The Trump Administration just took what a country’s trade deficit was last year and divided it by their exports - and then called that their tariff rate. But that’s not what a tariff is, that’s a trade balance. America has a trade deficit with basically everyone because Americans are rich and rich people buy things. We make up 30% of all global consumer spending despite being 4% of the population. You have a trade deficit with your grocery store, you buy from them and they don’t buy from you. It’s really not a big deal.