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“There are decades where nothing happens; and there are weeks where decades happen”
– Vladimir Ilyich Lenin
President Donald Trump announced broad new tariffs on US imports last Wednesday, ushering the global economy into a new era of trade competition.
These measures, announced from the White House Rose Garden on the day Trump called “liberation day”, include a universal baseline tariff and targeted reciprocal tariffs to be applied on top of existing tariffs, bringing US import tariffs to their highest level in over 100 years.
In Linh Hà's previous Macro Economics article, it was perhaps correctly predicted that this is all just part of a larger plan.
In today's article, Viet Hustler will summarize what happened, the timing, and the context of this trade war between the US and the whole world.
Summary of the Tariffs
What is the purpose of these wars?
Market Reaction
Recession Risk
Powell's Assessment
Hope that through this article, readers can get an overview of the war and temporarily understand why and at this time.
