Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

  • Treczoks@lemmy.world
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    2 days ago

    I hope the EU reacts with something non-tariffy. Like forbidding US online platforms to serve ads and collect personal data, with severe punishments if they still do.

    • wuzzlewoggle@feddit.org
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      1 day ago

      I recently read an article that suggested the best retaliation would be to stop enforcing US intellectual property in the EU. One of the biggest exports they have is media, if we would stop enforcing their copyright it would cost them a lot of money.

        • huquad@lemmy.ml
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          1 day ago

          Thats still too long imo. Patents are 20 years, so should every IP protection.

            • huquad@lemmy.ml
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              2 hours ago

              Exactly. Especially when you figure in the longer scale up time with an invention. You can’t just flip a switch and start making money.

        • ExtantHuman@lemm.ee
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          1 day ago

          Yeah, but think about the grandchildren of the CEO who bought that IP from the artist‽

          Do you want them to starve have to work for a living?

        • lumony@lemmings.world
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          1 day ago

          Copyright and patent laws should just go away entirely.

          The amount of resources we spend enforcing them, just so we can spend more resources on the products themselves, could all be spent improving the lives of people who need it.

          Most great art doesn’t make much money anyways, barely more than a service job if you’re lucky. It’s the trashy-shit for low-standards morons that makes an egregious amount of money, like the marvel crap we keep seeing every year.

          I’d be fine with less marvel-crap in the world. It’ll make what we do get more impactful, and we can dedicate more resources to fewer, higher-quality products.

          • ExtantHuman@lemm.ee
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            1 day ago

            That’s a great plan for letting those mega corps steal from the little guy EVEN more than they already do

            • lumony@lemmings.world
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              1 day ago

              Not really.

              Corporations aren’t going to be making billions of dollars off of, say Photoshop, if copyright and patents laws didn’t exist.

              Same goes for hollywood movies.

              You’re peddling rhetoric that was put here by your oppressors so you will work against your own interests. Congratulations.

              • ExtantHuman@lemm.ee
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                1 day ago

                The entities with the established distribution networks will make the money, not the little guy who makes their own little story.

                If I write a little seld published novel, under your system, Hollywood can just take that story and make a movie of it without my permission. How is that better? You think more people pirating will take down these mega corps? Your system is chaos that’s even worse than the current model.

                • yetAnotherUser@discuss.tchncs.de
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                  1 day ago

                  They can do so currently by making a couple of minor changes and settling for a pittance because your lawsuit would bankrupt you.

                  “Chaos” is a better system than one benefitting corporations only.

                  • ExtantHuman@lemm.ee
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                    17 hours ago

                    Why do so many people on the Internet default to a completely unnuanced worldview? Like there’s more than two diametrically opposed options that can be taken.

                • lumony@lemmings.world
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                  1 day ago

                  Your dilemma essentially translates to “wahh, he stole my idea!”

                  You’re also missing the forest for the trees, again. How is hollywood going to make an egregious amount of money off of ‘your’ idea without copyright and patent laws? Without them, piracy isn’t piracy. It’s just a normal and legal way of sharing media.

                  Sad watching how hard you people go to bat for your oppressors, but it really puts into perspective why things are the way they are.

                  The average person just can’t see past their conditioning or how hard they’ve been indoctrinated to support a system that works against them. In the words of Mark Twain, “it’s easier to fool a man than to convince him he’d been fooled.”

                  • ExtantHuman@lemm.ee
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                    17 hours ago

                    By having the resources to create and distribute a product with polish.

                    Acting like you’re smarter than the people you’re talking to while missing the very obvious point that we’re not starting from nothing. Being pedantic about me referring to piracy by what it’s called now doesn’t change how impractical it would be to have no ownership at all of ideas. Why would anyone pay for content at all?

                    Your “solution” means no one can make a living doing creative things. The current system has flaws that can be fixed. “No system at all” is worse for literally everyone involved, both creators and consumers of said content.

                    You should stop publicly felating yourself over how unshackled your mind is, since this idea is so incredibly stupid.

            • ExtantHuman@lemm.ee
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              17 hours ago

              Everything done with skill is art. From Citizen Kane to the design of a candy wrapper.

              • Comtief@lemm.ee
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                11 hours ago

                Sure, but that wording becomes detrimental when you only expect high-quality things because that’s what you associate with art, forgetting that there is also entertainment that doesn’t need to be high quality necessarily.

      • samus12345@lemm.ee
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        1 day ago

        Official EU website hosting American-made media for a nominal fee. Can’t tariff data!

      • LavaPlanet@lemm.ee
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        1 day ago

        I think a lot of that kind of stuff is going to happen. I don’t think other countries are insulted, as much as they find it ridiculous, and to be ridiculed, I think they’re going to do some inventive chaos. I think we need to be building some world bingo cards, and I’ll bet we won’t guess all the (hopefully hilarious) petty revenges about to snowball.

      • Treczoks@lemmy.world
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        1 day ago

        Of that I am not convinced. This will work with a lot of smaller countries that don’t have much of a copyright portfolio, but not with Europe.

    • Ray1992xD@feddit.nl
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      2 days ago

      Yes that would be amazing and a great stimulant for EU companies to start developing a competing platform of it’s own (we have BeReal, Dailymotion, Medal and Dumpert, but they aren’t very big AFAIK)

    • lumony@lemmings.world
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      1 day ago

      Advertising should just be illegal.

      It gives an unfair advantage to those who already have an unfair advantage.

      I recommend installing an addon called AdNauseam to block ads in addition to sending data that you’ve clicked them.

      Please everyone. Try to understand that being a useful idiot is the norm these days. It’s what’s cool.

      • Fluke@lemm.ee
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        1 day ago

        Someone needs to create plugins not to block data being sent, but to send inordinate amounts of trash data.

        Make the whole system pointless.

    • Wispy2891@lemmy.world
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      1 day ago

      or something ultra specific that is super easy to source from any other country, to exclusively hurt the american businesses

      • kent_eh@lemmy.ca
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        1 day ago

        or something ultra specific that is super easy to source from any other country, to exclusively hurt the american businesses

        That was part of what went into how Canada chose the targets of out first rounds of counter-tariffs.

        Product categories that we also make here, or can easily get elsewhere or can comfortably do without for an extended period of time.

        That combined with a consumer led boycott of anything "made in the USA " and even staunch Republicans like Mitch McConnell are starting to push back against Trump.