Some rich folks are in a panic cause the stock prices are dropping. I hope that they don't have enough votes to override a veto.
Trump is back…the “Now What” thread
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I think those are mostly plebs and funds panic dumping ,moneyed folks were pulling together mountains of cash for months to buy at the bottom as the whole tariff show was quite foreseeable.
Congress critters have home base spooked by potential impact.
Grassley's home state of Iowa is heavily dependent on farm crop exports, while Cantwell's Washington state is home to many export-heavy companies like Boeing .
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Reciprocal tariffs literally are designed to get rid of tariffs, not to perpetuate them. Thus, those who claim that tariffs are bad as a general concept have no credibility in this debate since they are and have been perfectly fine with the world placing massive tariffs (as well as non-tariff trade barriers) on U.S. goods for decades. If you're against tariffs, fine. If you're for tariffs, fine. But you can't reasonably be opposed to U.S. tariffs but also fine with large global tariffs. In other words, it makes no sense that U.S. tariffs, and only U.S. tariffs, are bad.
Doesn't that assume that they exist in the first place?
Did you read Mr. BR's post # 2248?
I hate to break it to you and your love of Trump
BUT you are deceived and are propagandized.
It has been proven that the "tariffs" numbers actually have little to nothing to do with actual real "tariffs" charged by other countries.
Instead it has been proven (and even admitted to by the brain trust Trump is all listening to) that actually they are putting tariffs on countries based on us buying more from them than they buy from us.
You are being essentially lied to.
You are being told "it's because they tariff us" when in actuality it's because they didn't buy enough stuff from us and Trump has some stupid idea that you can have a zero sum trade balance. (Maybe other countries should just start tariffing Microsoft, IBM, google (just claim their islands ownership hack is invalid and they are what they always were, a USA corporation), Meta and Oracle and see how fast Trump and his team get the message).
Don't love Trump, but I love what he's doing. So, you can go kiss my hairy, white ass with your BS. Orange man bad, right?
I do not have any problem with getting tough on foreign nations who abuse trade policies with punishing tariffs and currency manipulation, theft of IP, etc.
But are we going to keep pretending that the EU has a 39% tariff on imported US goods just because President Trump claimed that it is true? Am I not a good and loyal American if I point to that and say, "Hey, wait a minute. That is not true." Am I prohibited from pointing out a false statement because I voted for him?
But are we going to keep pretending that the EU has a 39% tariff on imported US goods just because President Trump claimed that it is true? Am I not a good and loyal American if I point to that and say, "Hey, wait a minute. That is not true." Am I prohibited from pointing out a false statement because I voted for him?
Exactly the tariff list seems to be based on trade imbalances with said countries and has little to nothing to do with countries tarrifing US products , with some exemptions like China.
While yes these tariffs are meant to pressure onshoring first and foremost US companies that offshored and maybe automakers that are already making cars in US, but frankly aside from higer added value stuff you do not realy want to onshore cheap shit , toxic stuff , manual labor intensive shit, that for example Vietnam makes due to having massively cheaper workforce and even laxer regulations than china. Its not like Amish want to pay for clothes and shoes made in US .
Some of these trade imbalances are also quite phoney , like for example Ireland is some massive exporter to US , but really its just US corporations Microsoft, Google ,Meta using Ireland like Tax haven inside EU to cycle profits on service back to US, Ireland is kinda European Delaware for the tech giants. But its like TikTok has to have a US incorporated entity similar way EU requires EU incorporated branches for complianc eand shit.
Sure there are trade barriers like for US farm products , but much of that has to do with GMOs that are not permited in EU food , or peroxide bathed meat and poultry doped up on antibiotics and growth hormones , banned in EU ,this is actualy what Kennedy is trying to change to bring Food standards higher, but Trump always forced this shit to be accepted by other markets.
Similary with autoindustry ,most of US manufacturers do no manufacture EU compliant cars in US, Biggest US exporter to EU is Tesla shipping out of China and tarrifed as Chinese made car .
I expect most of these tarrifs will be shortlived , never come into effect or end up watered down massively by exemptions for minimal consesions, seriously what can 90% tariffs Vietnam offer ? transfer a sweat shop or two to Oklahoma to shorten the Amish supply chain for Kanye swastika shirts?
Tariffs table is absolute BS and someone made it with AI or something as it lists non populated islands as tarif targets due to unfair tariffs probably imposed by local Penguins
They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
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VERY unusual for Sachs to appear on Napolitano’s program twice in a week.
Because, Economist.
Though Norton’s unabashadly a Leftist / Socialist, all of his articles are always well - researched and verifiable with some work.
Also because, Economist.
If to be believed, his article explaining the math behind justifying our tariff methods is indeed laughable and makes us look like absolute imbeciles…
But, of course - we’ll continue cheerleading and standing behind our man
Also, penguins
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but your tariffs don't?
oh no! kick us out!
oh no! kick us out!
Wall Street and all their connected cronies made multitudes of riches by offshoring manufacturing labor, which screwed our middle class. A drawn down domestic manufacturing base further weakens our national sovereignty since we have to depend on potential enemies for essential goods.
I don't care how much Wall Street cries about tariffs. They are only crying because their gravy train wallets are finally going to get hit. Most of their obscene gains came about by screwing the middle class under the guise of globalism. Its time to build the middle class back up in the USA with domestic manufacturing opportunities.
I don't care if I have to pay a little more for something domestically produced. At least I won't be helping our adversaries gain an advantage over us to weaken us even more.
I don't care how much Wall Street cries about tariffs. They are only crying because their gravy train wallets are finally going to get hit. Most of their obscene gains came about by screwing the middle class under the guise of globalism. Its time to build the middle class back up in the USA with domestic manufacturing opportunities.
I don't care if I have to pay a little more for something domestically produced. At least I won't be helping our adversaries gain an advantage over us to weaken us even more.
The objective is not to eliminate the trade imbalance with other countries , but to make companies that have left for cheap labor in other countries (China being the biggest), feel the pain of those tariffs and bring manufacturing back to the US. When you look at how China controls the manufacturing of drugs that we use daily, they have us by the short hairs if we go to war with them. The US is the largest consumer of goods around the world. Why should other countries reap the benefits of what we consume.
I will still buy good Scotch from Isley and good red wines from France because they have the best versions of that for my taste buds.
I get that , but honestly you do not want most of offshored jobs back ,you are not willing to pay the price nor have your son or daughter doing that job. 1960's are not comming back.
Whole idea someone is taking advantage of US is ludicrous , US made the whole system by which others have to play , but rent seeking elites also financialised the economy to a massive degree, and there is no way back from that.
I think Trump might be in process of kneecaping own admin , republicans will lose narrow mayority for no good reason to democrats that have no plan or ideas , now they litleraly just have to sit tight and wait for Republican bodies to flow down the river.
Tarrif impact on US consumer will be immediate , on shoring to US even in best case would take years and it will be mostly industries that can afford it . Like Apple could have always made phones in US , but chose not to , maximises investors returns. Nike amish line of products might not be doable in US , Or will degenerate into a deal Italians are running , they have factories in Italy making designer brands , but labor is imported from China , so basicaly a chinese sweatshop just incorporated in Italy.
Most of US cars made in mexico are not made there for any othe reason that to cut cost ,mexico is cheaper than china ,it seems automanufacturers require such cheap labor to get you price you want in the show room .
And when you see new onshored factory it might turn out to be like new BYD ,factory with minimal workforce all automated.
In any case its good time to be a lobbyist , anyone with access to Trump circle will be cashing in millions on these tarrif deals.
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A blanket tariff automatically includes everywhere that isn't the United States.
With a blanket tariff, individual places would have to be singled out for exceptions, rather than singled out for inclusion.
Noone spent the time or effort to go through and create an exception for all of the places that some liberal would try to use as an example of absurdity.
Anyone who's looking for something to manipulate into an example of an apparent absurdity, can probably find any number of places, since it's a "blanket" tariff, and automatically includes pretty much everywhere that isn't the United States.
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who gives a fuck? if there are no people, there is no impact, so why bring it up unless you're a fucking liberal?
anyway....
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From what I have seen of Stephen Miller so far, I think he would make a solid presidential or VP candidate in the future.
who gives a fuck? if there are no people, there is no impact, so why bring it up unless you're a fucking liberal?
anyway....
Because it makes us Americans look really, really dumb
Besides, the Liberal / Conservative dichotomy is a tired old trope.
Try “American” instead.
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Shhh! You might be lumped into the “Liberal” heap!
Canna say “embarrassing,” must only excitedly jiggle your pom - poms!
Or, mindlessly posting one inane Twtter post after another as an alterative to actually discussing any true understanding, after realizing that nobody really cares about said Twitter posts in the “Ukraine Thread”
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does it? like canadians banning manatee meat imports?Because it makes us Americans look really, really dumb
Besides, the Liberal / Conservative dichotomy is a tired old trope.
Try “American” instead.
The odd thing is, despite the tariff being labeled as such - there’s said to be a lot of exceptions woven into them, making the tariffs “not as horrible (or blanket) as they seem.”
It’s getting confusing, figuring out which is which.
A sign of the economy?
Maybe not.
People with slanted political bias.
(Libtards) possibly.
I could easily spin this a different direction.
When you go to a fast food place and you order a sandwich that has five yup 5 fucking ingredients that cost almost 10$ and the dumbasses can't get it right.
They used roast beef instead of the advertised smoked brisket, the crispy fried onions didn't make it in the sandwich, no cheese sauce was on it.
Five simple ingredients and they can't get it done? WTF
But some people want to spin the fault to DJT.
INCOMPETENCE is what is killing the food industry.
But this is what the sheep are reading and swallowing.
https://www.wsj.com/business/more-p...-work-thats-a-bad-economic-indicator-9693fddd
Five damned ingredients, two missing one wrong.
It's your lunch time maybe so no time to go back and get it fixed properly.
Maybe not.
People with slanted political bias.
(Libtards) possibly.
I could easily spin this a different direction.
When you go to a fast food place and you order a sandwich that has five yup 5 fucking ingredients that cost almost 10$ and the dumbasses can't get it right.
They used roast beef instead of the advertised smoked brisket, the crispy fried onions didn't make it in the sandwich, no cheese sauce was on it.
Five simple ingredients and they can't get it done? WTF
But some people want to spin the fault to DJT.
INCOMPETENCE is what is killing the food industry.
But this is what the sheep are reading and swallowing.
https://www.wsj.com/business/more-p...-work-thats-a-bad-economic-indicator-9693fddd
Five damned ingredients, two missing one wrong.
It's your lunch time maybe so no time to go back and get it fixed properly.
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How much consideration did you make for EU countries who have 20% tariffs on imported vehicles, plus 10% VAT?
Why do European nations place high tariffs on automobiles? To protect domestic and their own export industrial capacity and jobs of voters.
The US operating under the Bretton Woods framework to counter the Soviets allowed all kinds of imbalances in-favor of our regional allies, because we don’t want to see another World War started in Europe that would be even more costly to human life, infrastructure, and trade.
Now that Russia has shown their utter weakness and not even able to project decisive power on their own border, Europe needs to renegotiate fair trade deals with the US. There shouldn’t even be an argument since we provide for their defense, and manufacture most of their critical weapons systems.
Like @theLBC says, why get upset about it.
Bouvet Island is the most remote place on Earth. But its 'residents' still have $2.5m banked in Australian accounts
If you've never heard of Bouvet Island, you're not alone. It's the most remote island on Earth and no-one lives there. But there are a dozen Australian bank accounts whose owners are registered as residents.
www.abc.net.au
Tax shelters.
There are maybe dozens of places like this all over the globe used by people and corporations to avoid taxes etc.
Trump Shares Video About How He Is 'Purposely Crashing the Stock Market'
Donald Trump shared a video claiming he was intentionally crashing the stock market, prompting confusion from his supporters.
www.rollingstone.com
Trump admits to purposely crashing the market in wild chess move
US President Donald Trump appeared to endorse the video he reposted to his Truth Social platform today, which is titled "Trump is purposefully crashing the market".
www.irishstar.com
The claim was that the EU has a 39% tariff on imports from the USA. It's not true, and the real formula has now been revealed, which has nothing to do with an EU tariff, as claimed.
But everybody is still trying to support the lie.
I am not setting tariffs, so I am not giving any consideration to anything. I am just listening, and getting offended when I am lied to by government officials, even, or maybe especially, when it is one for whom I voted. Defend his lies with more lies if you want, but nothing you wrote is what was presented when he announced the tariff.
He’s in his element as a senior advisor, but not a chief executive. His conversion to conservative policies was spurred by reading Guns, Crime, and Freedom from the NRA.
If you spend any time studying Trump’s business negotiating history, he comes in from a position of strength, rattles the table, and observes who the sharks are, and who the weaklings are.
The percentages don’t matter. They are all designed for shock value. He actually held back on what he could have done. It isn’t about the numbers, but letting the world know there’s a new US in town, and we’re done screwing over US people for the benefit of other nations, with no returns.
VAT is not a tariff. VAT is imposed when value is added (the v and the a). It is imposed on domestic producers the same as on imports.
In other words, Trump is just wrong when he claims VAT is a tariff. If you are making the same claim, then you are wrong, too.
There is no general 20% tariff on USA produced cars imported to the EU, either. It is 10%. The USA charges a 2.5% tariff on EU cars imported here.
None of this is a 39% tariff.
Do not give cover to liars by being complicit with them in sharing lies.
"Lying lips are an abomination to the Lord"
Proverbs 12:22
Politics are no excuse.
I understand negotiating.
But not lying.
Nor do I cover for others when they lie, even if they are my own political party.
Truth matters.
Misrepresenting things undermines the point. It undermines the president's credibility, and, by extension, the credibility of the United States.
Deceptive, because many or even most countries, like Australia, have zero "tariffs". Yet they have an across the board import tax of 10%, and a customs duty of 5% outside of the commonwealth. This is leftist, word game BS. A rose by any other name.
Saying Australia has zero tariffs is a lie when you understand that calling taxes different names does not change the actual "cost" to the importer.
Saying that Trump's policies are anti-free trade on the right is coming from anti-Trumpers, period.
There is a .gov website and several private ones that show the cost of exporting American goods into every country on earth. It's not that this information is secret, it's that people who aren't in export are fucking ignorant.
@Mr.BR does have a point about not wanting to make all the low cost, low end products out of SE Asia and China. Many of those are super-poluters as well, which we also don't want.
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