[Friday, April 4] US News Headlines from r/politics
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1. ECONOMIC & TRADE POLICY
Tariffs and International Retaliation
The Trump administration has implemented tariffs characterized as the largest tax hike since 1942 without congressional approval[1]. China has responded decisively, imposing a uniform 34% tariff on all U.S. imports effective April 10[2]. Reporting indicates U.S. tariff rates will exceed Smoot-Hawley levels from the Great Depression era[3]. The White House’s tariff calculation methods have been criticized as “bizarre”[4], while tariff exemptions for major oil industry donors have drawn accusations of “oligarchy”[5].