this post was submitted on 17 Jan 2026
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Donald Trump announces plans to hit the UK, Denmark and other European countries with a 10% tariff on "all or any goods" exported to the US from 1 February

In a post on Truth Social, the US president says these will remain in place until "such time as a Deal is reached for the Complete and Total purchase of Greenland"

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[–] deHaga@feddit.uk 34 points 1 day ago (2 children)

Tariffs are taxes on the importer, not the exporter. They are taxing themselves

[–] running_ragged@lemmy.world 14 points 1 day ago (1 children)

By making the American poor people pay them, they transfer more wealth to the captital class by contracting out jobs to their buddies. Also, it huts sales for the exporters, so its win win for him.

[–] tomiant@piefed.social 1 points 8 hours ago

Capitalism doesn't scale well with democracy.

[–] ccunning@lemmy.world 14 points 1 day ago (1 children)

They are a de facto consumption tax which disproportionately affect the less well off.

[–] tomiant@piefed.social 1 points 8 hours ago

Impose tarrifs. Crash businesses. Buy up businesses. Lift tarrifs. Profit.