Economy Donald trump to impose Tariffs feb.1st.

[Andy Capp]

Because I believe that expansion will mostly just benefit the tech bros, to the detriment of our already struggling middle class. I'm okay with a certain amount, maybe if you can steal the very best doctors or engineers

The tariffs on the other hand are potentially beneficiary, if it helps us bring industry back here. Granted, the Trump admin seems to just be using them as a bludgeon for now. So I'll wait and see

You don't see any scenario where a tariff can be beneficial to us?

Speaking for myself:

On your closest allies? No.

 

[Islam Imamate]

Because I believe that expansion will mostly just benefit the tech bros, to the detriment of our already struggling middle class. I'm okay with a certain amount, maybe if you can steal the very best doctors or engineers

And what are you basing that on? Why wouldn't you wait and see either way?

The tariffs on the other hand are potentially beneficiary, if it helps us bring industry back here. Granted, the Trump admin seems to just be using them as a bludgeon for now. So I'll wait and see

Bringing industry back would only help those industries to the detriment of everyone else.

Even using them as a bludgeon is dumb, Canada has already announced retaliatory tariffs

You don't see any scenario where a tariff can be beneficial to us?

Probably not and definitely not in the way Trump is applying them.

 

[vision1]

See what you did there?

You said calling a man a woman, even though he's a man, is "the correct pronoun". So calling him a man, which is what he is would be incorrect right? That's what I'm talking about, you're playing that same game and I'm the impolite asshole for simply acknowledging reality right?

Yeah, go fuck yourself, for a moment there I thought you were trying to have an honest conversation.

Right or wrong it's still impolite ...

 

[mkess101]

How would you suggest we do it? I feel like we run into this same issue with everything: the average citizen doesn’t understand it, we explain it, they get mad at us for explaining it and act like we’re arrogant. Rinse and repeat.
If we point out Trump’s overreach, it’s just becomes a meme to them. I’ve wondered if we’d have more success if we used the word tariff less and just used “tax” instead, as most everyone understands that. But I’m sure we’d get accused of lying: “Those aren’t taxes on us, they’re tariffs on China, stupid lying libs!”—that sort of thing.

I think we’ve been pretty clear that tariffs just jack up prices at a time when we certainly don’t want that, and that getting in a trade war with allies will just cause us to lose allies. That’s about as simple as it gets.

I'd start with reminding people what happened to a lot of 401k's when the GFC hit. And then explain why blanket tariffs can lead to recessions that drive the stock market (and those 401k's) into the dirt. That resonates more imo than "You're 6 pack of Corona is going up a buck". Especially now that the country kinda has Munchausen syndrome when it comes to inflation.

It's obviously not gonna resonate with everyone, and maybe my perspective is just that much different. But seeing my 401k drop 30 or 40 percent scares me a helluva lot more than paying an extra 2 bucks for an entree at a restaurant. And my time horizon still isn't imminent with my retirement $. How many people in their 50's and 60's with short windows still have exposure to the markets in their retirement funds, pensions, etc? A shit ton. If this shit moves forward and these big gains of the past couple years start getting wiped out...THAT is where Dems could say "Well look at this...the tariffs put us in a recession and now your portfolio doesn't look so great does it?"

 

[LeonardoBjj]

Asian stock markets tumble in response to Trump tariffs​

European futures also down more than 3% after Trump indicates tariffs will ‘definitely happen’ in EU countries

Philip Wen

Asian sharemarkets tumbled in early trade on Monday after the Trump administration’s imposition of tariffs on Mexico, Canada and China sparked fears of an escalating global trade war.

Taiwan’s Taiex fell 4.4% at the open, led by a more than 6% plunge in semiconductor heavyweight TSMC. Japan’s Topix index was down as much as 2.3% and Korea’s Kospi fell as much as 2.4%, led by major exporters with exposure to global markets, including Canada and Mexico such as electronics manufacturers Samsung and LG, and automaker Kia. China’s sharemarkets remain closed for the lunar new year holidays.

Australia’s benchmark ASX 200 opened down more than 2%, retreating from a fresh record high reached on Friday. Iron ore miners, including BHP and Rio Tinto, followed the price of the commodity lower. Hong Kong’s Hang Seng index opened down 0.9%.

European futures were also down sharply, as much as 3.4%, after Donald Trump indicated at a press conference that European Union member countries would be next in the firing line. The euro plunged as much as 2.3% to $1.0125.

“We’ll see what happens,” the US president replied when asked by reporters what countries would be next to be targeted by tariffs. “It will definitely happen with the European Union, I can tell you that.”

The US dollar shot to a record high against the Chinese yuan in offshore trading, and jumped to the highest since 2003 against Canada’s currency and the strongest since 2022 versus Mexico’s peso.

Trump on Saturday followed through with his promise to place 25% tariffs on Canada and Mexico – except for Canadian energy which will attract a 10% tariff – as well as 10% tariffs on China, in retaliation over immigrants and illegal drugs that he says enter the US from those countries. The White House said the tariffs would go into effect on Tuesday.

It has already sparked retaliation from all three targeted countries. Canada’s department of finance has published a list of US products imported into Canada that it will target with a 25% retaliatory tariff, also starting on Tuesday. Claudia Sheinbaum, Mexico’s president, has also vowed to implement retaliatory tariffs but also said her government was working on a “plan B” as she insisted that Mexico “doesn’t want confrontation”.

China said it would file a lawsuit against the tariffs. The imposition of tariffs by the US “seriously violates” World Trade Organization (WTO) rules, China’s commerce ministry said in a statement, urging the US to “engage in frank dialogue and strengthen cooperation”.

Trump’s move was the first strike in what could usher in a destructive global trade war and drive a surge in US inflation that would “come even faster and be larger than we initially expected”, said Paul Ashworth of Capital Economics.

Barclays strategists previously estimated that the US tariffs could create a 2.8% drag on S&P 500 company earnings, including the projected fallout from retaliatory measures from the targeted countries.

“During Trump’s first term in office, tariffs and trade tensions brought attention to the more general topic of the advantages but also disadvantages of globalisation,” said ING analysts led by Inga Fechner. “This time around, it is hard to see how an escalation of trade tensions can do any good, to anyone.”

https://www.theguardian.com/busines...remarkets-tumble-in-response-to-trump-tariffs

 

[LeonardoBjj]

Asian stock markets tumble in response to Trump tariffs​

European futures also down more than 3% after Trump indicates tariffs will ‘definitely happen’ in EU countries

Philip Wen

Asian sharemarkets tumbled in early trade on Monday after the Trump administration’s imposition of tariffs on Mexico, Canada and China sparked fears of an escalating global trade war.

Taiwan’s Taiex fell 4.4% at the open, led by a more than 6% plunge in semiconductor heavyweight TSMC. Japan’s Topix index was down as much as 2.3% and Korea’s Kospi fell as much as 2.4%, led by major exporters with exposure to global markets, including Canada and Mexico such as electronics manufacturers Samsung and LG, and automaker Kia. China’s sharemarkets remain closed for the lunar new year holidays.

Australia’s benchmark ASX 200 opened down more than 2%, retreating from a fresh record high reached on Friday. Iron ore miners, including BHP and Rio Tinto, followed the price of the commodity lower. Hong Kong’s Hang Seng index opened down 0.9%.

European futures were also down sharply, as much as 3.4%, after Donald Trump indicated at a press conference that European Union member countries would be next in the firing line. The euro plunged as much as 2.3% to $1.0125.

“We’ll see what happens,” the US president replied when asked by reporters what countries would be next to be targeted by tariffs. “It will definitely happen with the European Union, I can tell you that.”

The US dollar shot to a record high against the Chinese yuan in offshore trading, and jumped to the highest since 2003 against Canada’s currency and the strongest since 2022 versus Mexico’s peso.

Trump on Saturday followed through with his promise to place 25% tariffs on Canada and Mexico – except for Canadian energy which will attract a 10% tariff – as well as 10% tariffs on China, in retaliation over immigrants and illegal drugs that he says enter the US from those countries. The White House said the tariffs would go into effect on Tuesday.

It has already sparked retaliation from all three targeted countries. Canada’s department of finance has published a list of US products imported into Canada that it will target with a 25% retaliatory tariff, also starting on Tuesday. Claudia Sheinbaum, Mexico’s president, has also vowed to implement retaliatory tariffs but also said her government was working on a “plan B” as she insisted that Mexico “doesn’t want confrontation”.

China said it would file a lawsuit against the tariffs. The imposition of tariffs by the US “seriously violates” World Trade Organization (WTO) rules, China’s commerce ministry said in a statement, urging the US to “engage in frank dialogue and strengthen cooperation”.

Trump’s move was the first strike in what could usher in a destructive global trade war and drive a surge in US inflation that would “come even faster and be larger than we initially expected”, said Paul Ashworth of Capital Economics.

Barclays strategists previously estimated that the US tariffs could create a 2.8% drag on S&P 500 company earnings, including the projected fallout from retaliatory measures from the targeted countries.

“During Trump’s first term in office, tariffs and trade tensions brought attention to the more general topic of the advantages but also disadvantages of globalisation,” said ING analysts led by Inga Fechner. “This time around, it is hard to see how an escalation of trade tensions can do any good, to anyone.”

https://www.theguardian.com/busines...remarkets-tumble-in-response-to-trump-tariffs

 

[Islam Imamate]

I'd start with reminding people what happened to a lot of 401k's when the GFC hit. And then explain why blanket tariffs can lead to recessions that drive the stock market (and those 401k's) into the dirt. That resonates more imo than "You're 6 pack of Corona is going up a buck". Especially now that the country kinda has Munchausen syndrome when it comes to inflation.

It's obviously not gonna resonate with everyone, and maybe my perspective is just that much different. But seeing my 401k drop 30 or 40 percent scares me a helluva lot more than paying an extra 2 bucks for an entree at a restaurant. And my time horizon still isn't imminent with my retirement $. How many people in their 50's and 60's with short windows still have exposure to the markets in their retirement funds, pensions, etc? A shit ton. If this shit moves forward and these big gains of the past couple years start getting wiped out...THAT is where Dems could say "Well look at this...the tariffs put us in a recession and now your portfolio doesn't look so great does it?"

You think voters respond to nuanced, technical arguments about the economy? I think the evidence suggests the opposite.

Were you not aware that tariffs are bad for markets?

 

[mkess101]

The tariffs were a core part of Trump's platform and were regularly criticized, at what point are the voters responsible for not paying attention?

And at what point will faux-centrists like yourself criticize Trump without also blaming Dems? The GOP has all branches of goverment right now and you're still trying to find blame for the Democrats now?

So you now cannot read? You keep saying "blaming" Dems. I'm not "blaming" them for anything other than failing to properly communicate to the swing voters how bad blanket tariffs could be. Make no mistake, this is on Trump if it tanks our economy. But me saying that wont be good enough for you. Because if I dare criticize the Dems for focusing on the wrong things in the election, your knee jerk response is "No they didn't! They talked about tariffs and the swing voters didn't listen!" So...there's nothing else I'd say that will make a difference. You've made up your mind that the Dems did everything they could. Well...go ahead and believe that.

 

[Koro_11]

Right or wrong it's still impolite ...

No the only thing impolite here is some perv imposing his weird sexual fetish on others.

 

[mkess101]

You think voters respond to nuanced, technical arguments about the economy? I think the evidence suggests the opposite.

Were you not aware that tariffs are bad for markets?

I was aware obviously and didn't vote for Trump. The Dems ran one commercial after another with scary abortion rhetoric. How many did they run that said "Hey this guy's plan for tariffs may well tank the economy and ruin your retirement plans"? Because I recall exactly zero saying that.

 

[Islam Imamate]

So you now cannot read? You keep saying "blaming" Dems. I'm not "blaming" them for anything other than failing to properly communicate to the swing voters how bad blanket tariffs could be.

Exactly, you can't stomach criticizing Trump without somehow roping the Dems in even as the GOP controls all branches of government and has started forcing through its insane agenda.

Make no mistake, this is on Trump if it tanks our economy. But me saying that wont be good enough for you. Because if I dare criticize the Dems for focusing on the wrong things in the election, your knee jerk response is "No they didn't! They talked about tariffs and the swing voters didn't listen!" So...there's nothing else I'd say that will make a difference. You've made up your mind that the Dems did everything they could. Well...go ahead and believe that.

Tariffs were a key talking point during the campaign but its hard to reach uninformed, cynical voters like you who think "both sides bad"

Were you really unaware that tariffs are bad for markets? Pretty much every major economist during the campaign was loudly saying so and even Project 2025 has a section about how tariffs are bad. None of this is new to anyone who knows even the first thing about tariffs which apparently doesn't include you.

 

[Islam Imamate]

I was aware obviously and didn't vote for Trump. The Dems ran one commercial after another with scary abortion rhetoric. How many did they run that said "Hey this guy's plan for tariffs may well tank the economy and ruin your retirement plans"? Because I recall exactly zero saying that.

So if the Dems ran a few more commercials on how bad tariffs were you might've voted for Kamala? Btw not only did Kamala campaign against the tariffs, she even called it a "Trump tax" to try to make it more salient but if voters like you don't pay attention to these things there's only so much the campaign can do.

 

[deviake]

I like Canadians. Don't need to annex them though.

I guess I'm just confused, they full throatedly praised Trump and he's been talking tariffs and whatnot for awhile so I figured they were game to start paying their fair share, dunno why they wouldn't want the honor of having him as their president as well

 

[Islam Imamate]

I guess I'm just confused, they full throatedly praised Trump and he's been talking tariffs and whatnot for awhile so I figured they were game to start paying their fair share, dunno why they wouldn't want the honor of having him as their president as well

If you think about it its really the fault of Dems who didn't properly communicate to swing voters that annexing Canada is not a good idea.

 

[Captain Tenneal]

Here he is 12 days ago telling you he wants to extend H1B to "wine people", servers, & waiters.
Yet you will still schill for him with a fake moderate schtick.
Comical.

Yes, I completely disagreed with what he stated there. We'll see what they actually do though, maybe he'll reconsider his ridiculous position now that he saw to push back, idk.

BTW, it isn't moderate "schtick". I do not like to be entrapped into being "all for" or "all against". I know full well that the WR left operates in this way. But I tell you no politician that's ran for president has ever represented my politics fully, so there's going to be some things I like, and some things I don't

 

[mkess101]

So if the Dems ran a few more commercials on how bad tariffs were you might've voted for Kamala? Btw not only did Kamala campaign against the tariffs, she even called it a "Trump tax" to try to make it more salient but if voters like you don't pay attention to these things there's only so much the campaign can do.

Is your assertion that every swing voter is identical to me?

 

[Islam Imamate]

Is your assertion that every swing voter is identical to me?

Not identical but I suspect a non-negligible portion of them are similarly uninformed and cynical in the way you are.

 

[kflo]

No the only thing impolite here is some perv imposing his weird sexual fetish on others.

you believe all trans people are pervs...............

 

[Bwagster]

Zelensky claims he only received 77 of the 177 billion in aid. If true where did the 100 billion go? A 100 billion could wipe out the need for taxes for years to come. I’m sick and tired of hearing people cry over these tariffs without holding previous administrations and government accountable for screwing over American citizens. It’s about time tax payers know where their tax money is going. #Americafirst

 

[mkess101]

Not identical but I suspect a non-negligible portion of them are similarly uninformed and cynical in the way you are.

You "suspect" blah blah blah.

I'm someone that vehemently disagrees with the Dems on many of the social stances they've taken. And I also acknowledge Trump is a buffoon.

Your only ridiculous retorte is this tired "You're a faux centrist...you just want to both sides everything...waaaah" nonsense.

Sorry that I have a different world view than you do and see glaring flaws in both parties. Wait, no. I'm not sorry at all.

And your (to me near meaningless) view of how informed I am aside, my cynicism has been well earned by the people we are electing and if you disagree...shrug.