Economy Trump's April 2nd Tariffs

[Neph]

The hard thing to understand @Seano was your odd insistence on calling it revenue, as if that would be a revelation, that it would make it all so much better, and that nobody had figured out the IRS means the Internal Revenue Service.

 

[wlu.29]

I'm done repeating the same thing for you guys over and over. Say something new or move on.

The answer is consumers

1 single word

You type that sentence because you want to avoid answering directly or being intentionally disingenuous

 

[44nutman]

Trump claims U.S.-China trade talks are underway, but no one knows who’s talking

President says U.S. and China are talking, China denies it, and no one in the administration seems to know about it

www.independent.co.uk

Trump Sundowning on full display. Old Man Trump rambling on about non existent deals. 200 deals Trump said he is working on after he woke up from a public nap and nobody knows what the old coot is talking about. Someone get Donny to Don Jr’s stash, so he can stop napping and get some deals done

 

[Rob Battisti]

I’m still waiting to see if @Rational Poster still thinks BTC is a joke.

Hint: alongside gold, it’s the only asset class up this year compared to the markets

 

[Seano]

Trump claims U.S.-China trade talks are underway, but no one knows who’s talking

President says U.S. and China are talking, China denies it, and no one in the administration seems to know about it

www.independent.co.uk

Trump Sundowning on full display. Old Man Trump rambling on about non existent deals. 200 deals Trump said he is working on after he woke up from a public nap and nobody knows what the old coot is talking about. Someone get Donny to Don Jr’s stash, so he can stop napping and get some deals done

I guess China just eased tariffs on multiple US imports out of the goodness of their hearts?

 

[Rational Poster]

I’m still waiting to see if @Rational Poster still thinks BTC is a joke.

Hint: alongside gold, it’s the only asset class up this year compared to the markets

I mean I've never said it was a joke and was only poking fun at your emotional attachment to it, lmao.

Which seems to be more clearly true since you can't let it go. Bro was tagging me all weekend. You going to tag me all weekend next time it's down? Or is that for just when it's going up?

 

[Rob Battisti]

I mean I've never said it was a joke and was only poking fun at your emotional attachment to it, lmao.

Which seems to be more clearly true since you can't let it go. Bro was tagging me all weekend. You going to tag me all weekend next time it's down? Or is that for just when it's going up?

“When you haven’t told people that they don’t understand how Bitcoin works in 5 minutes”

You got me.

 

[Rational Poster]

“When you haven’t told people that they don’t understand how Bitcoin works in 5 minutes”

You got me.

It seems to work quite like any other speculative assets where people are gambling it will be worth more than what they bought it for when they want to liquidate their holdings.

 

[AWilder]

Revenue? Don't you mean a huge increase in taxes paid by Americans?

Lmao, it's revenue when Trump taxes people but evil demonic liberal communist Soviet taxes when Democrats do it.

 

[AWilder]

Thats not the point, really. Tariffs create government revenue. Why should the government allow us to be undercut by countries like China with no return? If we're going to lose to China we may as well create government revenue. Why do you think literally everything we export is tariff'd?

The effect on the consumer is a different story. Not insignificant but not what this is about.

That's a lot of words to say you have the intellect of a 3 year old.

 

[Seano]

That's a lot of words to say you have the intellect of a 3 year old.

Explain what parts you take exception to. I expect to be waiting a while.

 

[Big Nasty Edison]

Lmao, it's revenue when Trump taxes people but evil demonic liberal communist Soviet taxes when Democrats do it.

Not only is it revenue, it's a day of liberation.

 

[Seano]

Not only is it revenue, it's a day of liberation.

I mean, it is government revenue, even if it booboos your feelings. You guys are not coming off as clever pretending I'm saying something wrong to anyone but each other.

 

[sickc0d3r]

Everyone not in the cult has been calling it a tax on American consumers the entire time. Tax=revenue. I mean, no shit.

 

[Seano]

Everyone not in the cult has been calling it a tax on American consumers the entire time. Tax=revenue. I mean, no shit.

I wouldn't give everyone so much credit because some seem pretty confused about it. Thats what tariffs do. If government loses on trade, they make it up in tariffs. I mean, everyone seems to understand it until America does it, I guess, but that seems pretty deliberate, I think.

 

[Big Nasty Edison]

I mean, it is government revenue, even if it booboos your feelings. You guys are not coming off as clever pretending I'm saying something wrong to anyone but each other.

You're not coming off as clever by trying to pretend it's not a tax on the lower class.

But ultimately we all know the truth: you'll defend everything this admin does no matter how much it hurts you.

 

[Rational Poster]

Thats not the point, really. Tariffs create government revenue. Why should the government allow us to be undercut by countries like China with no return? If we're going to lose to China we may as well create government revenue. Why do you think literally everything we export is tariff'd?

The effect on the consumer is a different story. Not insignificant but not what this is about.

Tariffs only create revenue if the tariffs are actually activated by American importers.

People and companies are just choosing to import from other countries or simply importing less. Lots of companies also stocked up prior and are just trying to wait it out. Many US corporations also are international and they get around or lessen the tariff burden by doing intercompany transfers of goods rather than traditional importing or exporting. My own customer is in the process of creating an FTZ (free trade zone) within their warehousing to avoid the tariffs.

Tariffs are only revenue generating when the imports and exporters can be compelled (forced) to activate the tariffs usually via blockade. That doesn't quite work in a global economy. It is simply less efficient than taxation for revenue generation. And the dreaded trade deficit will just get worse, as American importers and exporters just end up doing less of both.

 

[Seano]

You're not coming off as clever by trying to pretend it's not a tax on the lower class.

But ultimately we all know the truth: you'll defend everything this admin does no matter how much it hurts you.

I didn't pretend anything. That you trying to force a narrative. Is it really necessary?

 

[Darkavius]

I guess China just eased tariffs on multiple US imports out of the goodness of their hearts?

I read the article and I am missing the part that "China eased tariffs on multiple US imports". I don't remember reading that part. There seems to be a common theme when talking about China. It is that China sends and sells Americans cheap products but one thing is never addressed by any administration.

China is not just relying on selling and sending Americans cheap products. China has significant knowledge skills that enables them to produce these "cheap items". So I am curious (and this is not just a Trump thing) what is being done on that end?

 

[SalvadorAllende]

Everyone not in the cult has been calling it a tax on American consumers the entire time. Tax=revenue. I mean, no shit.

I live in Argentina and work in customs clearance since 2006. We have one of the most complicated customs system here (gladly is being simplifieddd).

Tariffs are taxes and final consumers pay for it. Anyone who thinks otherwise is a fucking moron.

It is hilarious how some people defend these measures just because Trump did it. If democrats applied these tariffs they would have been called evil communists.