Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
Rest of the world: 10%
How is any of this “hurting said corporations?”
Tariffs are a tax on the working class. Corporations will use this as an excuse to raise prices beyond how much their costs increase due to tariffs.
If a tariff causes a product to cost 5% more to bring to market, you’d better believe they’re going to charge 20% more to the customer.
The ruling class always gets theirs. We can thank the useful idiots among us for why things never change.
Domestically, this is what will happen, but those corporations are also multinationals and get a large amount of money from doing business outside the US. What Trump is doing with the sort of threats he’s making to US allies is causing their reputation to plummet abroad along with their revenue. This can only go so far before competitors from EU and China take their spot and they lose all international relevance. Additionally, the tariffs will put them at a disadvantage in the global market compared to corporations outside the US which is further contributing to their loss in revenue. So if Trump’s main interest was in helping those corporations, I doubt he would be doing this.