Tariff day has arrived. It’s The Largest regressive federal tax in history....

"At an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s,(Depression).
Switzerland got whacked with a 39% rate, while the tariff on some Canadian goods rose to 35%. And it’s not over.
Trump is expected to unveil separate tariffs on imports of pharmaceuticals, semiconductors, critical minerals and other key industrial products in the coming weeks."

"It’s more an art than a science. Trump has shown an increasing willingness to use tariffs to settle geopolitical scores.
He threatened Brazil over domestic politics, India over its ties with Russia and Canada over plans to recognize a Palestinian state."

"It’s a very high tariff wall," said Deborah Elms, head of trade policy of the Hinrich Foundation.
"The cost is going to be significantly higher for American companies and American consumers who will respond surely by buying less."

Tariffs are regressive taxes that impose a heavier burden on poor and working-class Americans (MAGA) compared to the wealthy.

Stock futures tumble! Prosperity!!

https://www.bloomberg.com/news/newsletters/2025-08...

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