r/wallstreetbets • u/s1n0d3utscht3k • Mar 03 '25

News Trump Officially Signs 20% Tariffs on China

https://www.barrons.com/news/trump-signs-order-for-20-tariff-on-china-w-house-d6fec57f
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150

u/UnfazedBrownie Mar 03 '25

So what’s the end goal with the tariff, as in what levers need to be met by these countries for the tariff to be lifted? This can’t be some permanent PIP.

218

u/Nice_Dependent_7317 Mar 03 '25

I don’t know what his end goal is… he wants to reduce taxes (always good to score popularity points) and have the gaps filled with tariffs. Either way, it ultimately is the American consumer paying the US government. It’s just taxing with extra steps, and it wouldn’t surprise me if it turns out that only the rich will be able to enjoy the tax cuts, while Average Joe gets fked two times over.

128

u/noor1717 Mar 03 '25 edited Mar 03 '25

I’m pretty sure the middle classes taxes are going up under trumps plan too

76

u/IrishPigs Mar 03 '25

They are. I think the income line where you start coming out on top is 300k.

3

u/Boxofcookies1001 Mar 03 '25

Combined or single?

9

u/yunnybun Mar 04 '25

Combined. 320k.