Trump’s broad tariffs go into effect just as US economic pain is surfacing
WASHINGTON (AP) — President Donald Trump began imposing higher import taxes on dozens of countries Thursday just as the economic fallout of his monthslong tariff threats has begun to cause visible damage to the U.S. economy.Just after midnight, goods from more than 60 countries and the European Union became subject to tariff rates of 10% or higher. Products from the EU, Japan and South Korea are taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20%. Trump also expects the EU, Japan and South Korea to invest hundreds of billions of dollars in the United States.
Only 15% of the products in the Trump store are made in the US
There are 268 items for sale on the Trump Organization’s online store. Of those, 41 are made in the USA and listed in a separate section highlighting US goods. That means American products make up exactly 15.298507462686567% of the Trump Store’s available merchandise.
This has to be considered the height of hypocrisy given that this year (year of the tariffs), Trump has put 168 new products to sell on his website and he is the first one to take advantage of the cheaper products in other countries.AI Overview
According to trade records reviewed by The Associated Press, thousands of copies of Donald Trump's "God Bless the USA" Bible were printed in China. A printing company in Hangzhou, China, shipped nearly 120,000 of these Bibles to the U.S. in three shipments between February and March 2024. The estimated value of these shipments was $342,000, which comes out to less than $3 per Bible.
The "God Bless the USA" Bible is currently being sold online for $59.99. Therefore, the profit margin on each Bible sold is potentially significant.
He is making big profits for himself buying from other countries, but he expects YOU to pay for higher prices for what you buy!