Trump continues backtracking and caving on tariffs

christiefan915 said:
You should read about all his failed deals during the '80s and '90s.
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AI Overview
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No, the United States cannot be formally declared bankrupt in the same way a business or individual can. The US federal government, while carrying a significant debt, does not have a bankruptcy mechanism under current law. While some propose restructuring debt similar to a Chapter 11 filing, this is not a legal option.

Here's why:
  • No Federal Bankruptcy Law:
    The U.S. federal government is not subject to the bankruptcy laws that govern individuals, businesses, and local governments.

  • Potential for Crisis:
    The US government's debt load is substantial, and some experts suggest that it could lead to a crisis if not managed effectively.

  • Proposals for Restructuring:
    Some experts have proposed restructuring the debt, similar to how a business might reorganize under Chapter 11 bankruptcy, but this is not a legally recognized option.


  • Economic Implications:
    A potential default or restructuring of the US debt would have severe economic consequences for the country and globally.

 
AProudLefty said:
AI Overview
View attachment 47870
View attachment 47871

No, the United States cannot be formally declared bankrupt in the same way a business or individual can. The US federal government, while carrying a significant debt, does not have a bankruptcy mechanism under current law. While some propose restructuring debt similar to a Chapter 11 filing, this is not a legal option.

Here's why:
  • No Federal Bankruptcy Law:
    The U.S. federal government is not subject to the bankruptcy laws that govern individuals, businesses, and local governments.

  • Potential for Crisis:
    The US government's debt load is substantial, and some experts suggest that it could lead to a crisis if not managed effectively.

  • Proposals for Restructuring:
    Some experts have proposed restructuring the debt, similar to how a business might reorganize under Chapter 11 bankruptcy, but this is not a legally recognized option.


  • Economic Implications:
    A potential default or restructuring of the US debt would have severe economic consequences for the country and globally.
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This is post Constitutional America, the law is largely irrelevant, those in charge do pretty much whatever they want.

This government is abusive and illegitimate.
 
Cypress said:
If you meekly exempt the Chinese from tariffs on cell phones, computers, televisions, electronics, how much are you really going to hurt them? I don't think Trump's Chinese-made Golden sneakers are going to be that significant in the grand scheme of global trade.
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Good point. What's left? Clothes are made elsewhere now. We still get plenty of plastic crap from China, along with appliances, furniture, household products, tools, etc. As has been pointed out 3,809 times before, the only "pain" that the tariffs will cause will be to American consumers. If they need things that are made in China but unavailable/unaffordable elsewhere, they'll pay up. And they'll blame Trump.
 
Cypress said:
Thanks for tacitly admitting Trump continues to backtrack and cave on tariffs.

It seems to me cell phones, electronics, televisions, computers are the high value products coming out of China. Aren't most clothes, shoes, and textiles now coming from Bangladesh and Vietnam?
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Yes. And from Sri Lanka and Pakistan.
 
Cypress said:

Trump now exempts phones, computers, chips from new tariffs​

Smartphones and computers will be exempted from Trump’s reciprocal tariffs.

Trump earlier this month imposed 145% tariffs on products from China, a move that was poised to take a toll on tech companies like Apple, which makes most of its other products in China.

The guidance also includes exclusions for other electronic devices and components, including semiconductors, solar cells, flat panel TV displays, flash drives, memory cards and solid-state drives used for storing data.


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On second thought he decided it was best not to put Apple out of business.
 
Hawkeye10 said:
This is post Constitutional America, the law is largely irrelevant, those in charge do pretty much whatever they want.

This government is abusive and illegitimate.
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And here you've been hero-worshiping Trump for years because "Bret and Heather and Jordan" told you to. Wut happened?
 
Cypress said:

Trump now exempts phones, computers, chips from new tariffs​

Smartphones and computers will be exempted from Trump’s reciprocal tariffs.

Trump earlier this month imposed 145% tariffs on products from China, a move that was poised to take a toll on tech companies like Apple, which makes most of its other products in China.

The guidance also includes exclusions for other electronic devices and components, including semiconductors, solar cells, flat panel TV displays, flash drives, memory cards and solid-state drives used for storing data.


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He's protecting his billionaire donors.

This is comical at this point
 
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