Author: Andy Hirschfeld
Published on: 29/04/2025 | 00:00:00
AI Summary:
United States President Donald Trump said his tariffs were bringing in $2bn a day. The real number turned out to be $192m per day at the time. In April, the total has hit more than $16.1bn. The daily income is up from $128m brought in on January 17. In 2024, Biden introduced a 100 percent tariff on electric vehicles, 25 percent on steel and aluminium and 50 percent on semiconductor chips. The move was a continuation of a tariff policy laid out during Trump’s first term. The University of Michigan’s Consumer Sentiment Index dropped 11 percent from the month before. In March, Consumer confidence fell to a 12-year low. Companies in the auto industry have already begun furloughs and layoffs.
Original: 863 words
Summary: 120 words
Percent reduction: 86.10%
What a garbage word salad of an article…
Short answer: The tariffs are an absolute failure on every level and the US is worse off for it.