What just happened with Trump's tariffs?
is the senior politics and ideas editor at Vox. He previously worked at Rolling Stone, the Washington Post, Politico, National Journal, and Seattle's Real Change News. As a reporter and editor, he has worked on coverage of campaign politics, economic policy, the federal, and homelessness.
Donald Trump made a big announcement about tariffs last week. This week, he took a lot of it back.Welcome to The Logoff: Today I'm breaking down President Donald Trump's wild afternoon of trade moves.
What is going on with tariffs? Last week, Trump announced two sets of tariffs: a minimum 10 percent tax on imports from all countries, and then a separate set of higher tariff rates that varied by country. Today, Trump said he was pausing those new country-by-country tariffs for 90 days, but he's keeping the baseline 10 percent tariff rate in place.
Trump also says he's raising tariffs on Chinese imports to 125 percent as retaliation in an escalating trade war.
Why did Trump change course? The White House is claiming the delay was a result of nations worldwide offering to negotiate new trade deals. We'll see if those negotiations are really happening and what comes of them.
So what did we learn? Since Trump announced the tariffs, the big question has been whether they were a massive change in economic policy or a bluff aimed at getting other countries to negotiate new deals. Today's answer is that they were a bit of both.
We're by no means back where we started: A 10 percent global tariff minimum and an economic war with China — one of our largest trading partners — will raise prices on imports and cost jobs that depend on international trade. And even with the pullback, the threat of tariffs have created new economic uncertainty at home and strained our relationships abroad.
On the other hand, had Trump left the country-by-country tariffs in place, we were staring at a full-blown, self-inflicted economic crisis. Now the president says we get some relief — at least for the next 90 days.
And with that, it's time to log off…
Forget everything you thought you knew about galactic formation. Okay, done? Good. Because a new discovery has scientists questioning their previous understanding of how galaxies are formed. You can read more about the 'Big Wheel' galaxy here. It's news you probably can't use, but I think we all deserve a bit of fun.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Hungary's Orban lauds MAGA advance after Nawrocki's win in Poland
BUDAPEST (Reuters) -Hungarian Prime Minister Viktor Orban said on Friday that nationalist Karol Nawrocki's victory in Poland's presidential election was "fantastically good", hailing the success of an ally of U.S. President Donald Trump. Eurosceptic Karol Nawrocki narrowly won the Polish presidential election on Sunday, delivering a big blow to the efforts of Donald Tusk's centrist government to cement Warsaw's pro-European orientation. "From a Hungarian perspective, I think the outcome is fantastically good, as there is a pro-Ukrainian, pro-war, pro-Brussels liberal government operating in Poland," Orban said in an interview on state Kossuth radio. Orban, also an ally of Trump, said he interpreted Nawrocki's victory as the "continuation of the patriot's advance." "One could also say that the 'Washington Express' has arrived in Warsaw," Orban said, alluding to Nawrocki's election as a victory for European conservatives inspired by Trump and his Make America Great Again (MAGA) movement. Both Tusk's government and its conservative nationalist predecessor have been staunch supporters of Ukraine in the war triggered by Russia's 2022 invasion and have been critical of Orban's tilt towards Moscow. Nawrocki has said Poland must continue to support Kyiv's war effort, but in a break with the policy of previous governments in Warsaw, he opposes NATO membership for Ukraine. For his part, Orban has refused to send weapons to Ukraine since the start of the war and kept close relations with Moscow. Orban publicly endorsed Nawrocki ahead of the second round of Poland's election.
CNN
29 minutes ago
- CNN
Venezuelans in Florida react to Trump's new travel ban
President Donald Trump signed a proclamation to ban travel from several countries to the US, citing security risks, with one of the countries being Venezuela. Venezuelans in Florida reacted to the ban, with one worrying about their visa.
29 minutes ago
Detained Columbia graduate claims ‘irreparable harm' to career and family as he pleads for release
NEW YORK -- A Columbia graduate facing deportation over his pro-Palestinian activism on campus has outlined the 'irreparable harm' caused by his continued detention as a federal judge weighs his release. Mahmoud Khalil said in court filings unsealed Thursday that the 'most immediate and visceral harms' he's faced in his months detained in Louisiana relate to missing out on the birth of his first child in April. 'Instead of holding my wife's hand in the delivery room, I was crouched on a detention center floor, whispering through a crackling phone line as she labored alone,' the 30-year-old legal U.S. resident wrote. 'When I heard my son's first cries, I buried my face in my arms so no one would see me weep.' He also cited potentially 'career-ending' harms from the ordeal, noting that Oxfam International has already rescinded a job offer to serve as a policy advisor. Even his mother's visa to come to the U.S. to help care for his infant son is also now under federal review, Khalil said. 'As someone who fled prosecution in Syria for my political beliefs, for who I am, I never imagined myself to be in immigration detention, here in the United States,' he wrote. 'Why should protesting this Israel government's indiscriminate killing of thousands of innocent Palestinians result in the erosion of my constitutional rights?' Spokespersons for the Department of Homeland Security and Immigration and Customs Enforcement didn't immediately respond to an email seeking comment. Khalil's 13-page statement was among a number of legal declarations his lawyers filed highlighting the wide-ranging negative impacts of his arrest. Dr. Noor Abdalla, his U.S. citizen wife, described the challenges of not having her husband to help navigate their son's birth and the first weeks of his young life. Students and professors at Columbia wrote about the chilling effect Khalil's arrest has had on campus life, with people afraid to attend protests or participate in groups that can be viewed as critical of the Trump administration. Last week, a federal judge in New Jersey said the Trump administration's effort to deport Khalil likely violates the Constitution. Judge Michael Farbiarz wrote the government's primary justification for removing Khalil — that his beliefs may pose a threat to U.S. foreign policy — could open the door to vague and arbitrary enforcement. Khalil was detained by federal immigration agents on March 8 in the lobby of his university-owned apartment, the first arrest under Trump's widening crackdown on students who joined campus protests against .
