Trump imposes tariff on 180 countries, exempts Russia, Belarus, Cuba and North Korea.
- Thread starter Poor Richard Saunders
- Start date
Tbird19482
Verified User
And the US taxpayer had to bailout the farmers.
Looks like we may have to do it again and help some other industries .
Farmers in a lot of red states are already saying this isn't what I voted for , and are also saying they might go bankrupt.
Tbird19482
Verified User
Looks like they are down almost 1200 points.
It is going to be an interesting day for the markets.
ThatOwlWoman
Leftist Vermin
I recall that the autoworkers union declined to endorse either candidate in 2024. No doubt there is and will be a lot of regret for those stupid enough to have voted for Trump. Car sales are going to fall as prices skyrocket due to the tariffs on steel, aluminum, and auto parts made elsewhere. And then the layoffs will begin.
This would be a great day to pop a big bowl of popcorn and watch the markets.
Tomorrow as well...Fridays tend to get Freaky.
Tbird19482
Verified User
Well the price of a car has gone up already not as much as the tariffs but are going up.
This will slow car sales and layoffs will be coming.
MAGAS can't seem to understand Tariffs this high will be passed on to the consumer and not paid by the exporting country.
Yes if the tariffs were reasonable they would absorb some of the costs but not when they are this high. and you can bet a lot of them will be adding on an extra couple percent and pad their bottom line.
Glenn Diesen
Technologies and markets have become more complex over the past two centuries. Excessive tariffs create uncertainties, disrupt supply chains and create inflation, and they should be complemented with industrial development to ensure they are temporary. Predictability is important in economics and the random threats of huge tariffs disincentivize investments as there are too many uncertainties. The manufacturing process consists of complex supply chains and the tariffs on imported components make the final product less competitive and have an overall inflationary impact on society as costs are always passed down to the final consumer.
The repatriation of supply chains will take decades. To ensure tariffs are temporary, there needs to be economic activity to enhance maturity and competitiveness – such as technological development, vigorous industrial policies and infrastructure investments. This has not been done in the US as the financialization of the economy and the oligarchy have created excessive rent-seeking. The economic war against China has made matters worse as banning export of advanced semiconductors has resulted in the loss of huge market shares, diminishing available funds for research and development. Lastly, the excessive use of tariffs breaks the multilateral rules agreed upon by the World Trade Organization, and other countries will retaliate.
Temporary and moderate tariffs can be a reasonable instrument to enhance competitiveness, yet they come with significant risks. The US insistence on dominating and preventing the rise of China, rather than accepting a new international division of labour between equal great powers, has resulted in the tariff instrument being used too aggressively and thus, making the US destined to fail.
news.cgtn.com
Technologies and markets have become more complex over the past two centuries. Excessive tariffs create uncertainties, disrupt supply chains and create inflation, and they should be complemented with industrial development to ensure they are temporary. Predictability is important in economics and the random threats of huge tariffs disincentivize investments as there are too many uncertainties. The manufacturing process consists of complex supply chains and the tariffs on imported components make the final product less competitive and have an overall inflationary impact on society as costs are always passed down to the final consumer.
The repatriation of supply chains will take decades. To ensure tariffs are temporary, there needs to be economic activity to enhance maturity and competitiveness – such as technological development, vigorous industrial policies and infrastructure investments. This has not been done in the US as the financialization of the economy and the oligarchy have created excessive rent-seeking. The economic war against China has made matters worse as banning export of advanced semiconductors has resulted in the loss of huge market shares, diminishing available funds for research and development. Lastly, the excessive use of tariffs breaks the multilateral rules agreed upon by the World Trade Organization, and other countries will retaliate.
Temporary and moderate tariffs can be a reasonable instrument to enhance competitiveness, yet they come with significant risks. The US insistence on dominating and preventing the rise of China, rather than accepting a new international division of labour between equal great powers, has resulted in the tariff instrument being used too aggressively and thus, making the US destined to fail.
American tariffs and the return to 'fair trade'
Temporary and moderate tariffs can be a reasonable instrument to enhance competitiveness, yet they come with significant risks.
The cost of car repairs will also go up as the price of car parts increases. That means car insurance will go up. This is a cascading effect that no one in the WH has bothered to consider.
Everything will go up, even 100% American made, because the costs are higher due to inflation and because these days the goal tends to be to get as much money as possible....American manufactures will raise prices simply because they can.
Tbird19482
Verified User
Oh that is FOR SURE.
Trump and his boy Musk never thought this out.
I am glade I got my car fixed last week , the cost was bad enough I can't think of how bad it will be in a week or so.
Looking at the DOW again it is down over 1500 points.
This isn't going to end well.
They will be able to raise prices because their competition was forced to raise prices. It is competition that supposedly keeps prices low in capitalism.
Tbird19482
Verified User
Like I have been saying IMO they will raise prices an extra 2 / 3% and pad their bottom line ,
They will put away some money as they still can as the American Empire collapses.
But haven't you heard the RW argument that it's good for the markets to go down. They were too high and a correction is healthy. Next they will have to tell us that recessions are healthy for the economy.
Holy shit, praise the Lord, my caviar, steel cased 7.62x39, and my Imperical Collection vodka will not be going up and I can still mail a carburetor for a 1952 Chevy 235 six to Cuba with few restrictions. I haven't bought a lot from Belarus or NKorea but the bargains abound.
White House explains why Russia not included in Trump's new tariffs
Trump is calling his tariff policy "kind reciprocal," saying he could've been much harsher on US trading partners.www.newsweek.com
Of the 180 countries, including U.S. allies, that are now being hit with retaliatory tariffs, Russia isn't on the list.
Belarus, Cuba and North Korea, other countries that face US sanctions, also weren't hit with reciprocal tariffs.
So Trump imposes a 20% tariff on NATO countries but exempts Russia. Can any one that supports Trump explain that?
Trump also imposed tariffs on Ukraine while exempting Russia.
Press Secretary Karoline Leavitt told Axios Wednesday that Russia was left off because U.S. sanctions already "preclude any meaningful trade." However, the U.S. still trades more with Russia than with countries like Mauritius or Brunei that did make Trump's tariffs list.
- Even remote island territories like Tokelau (pop. 1,500) in the South Pacific and Svalbard (pop. 2,500) in the Arctic Circle — territories of New Zealand and Norway, respectively —were listed for tariffs.
Tbird19482
Verified User
I would be happy if it is ONLY a recession, it looks like Trump could be driving us into either a very deep recession or a depression.
It isn't going to be good either way.
gfm7175
Mega MAGA
BINGO!!!! (was his name-o)
gfm7175
Mega MAGA
Shhhhhhhhhh!!!!!!! You're not supposed to be noticing this..........Ummmm, look over here... UKRAINE!!!!!!!!!????
gfm7175
Mega MAGA
Then YOU provide the answer, NoNads........
gfm7175
Mega MAGA
Blatant lie.
Incorrect tense.