Economy Trump's April 2nd Tariffs

[Hellowhosthat]

The bit where he says "in key sectors of the economy" is quite important I think.

 

[Phisher]

How does this dumbass think that people will even be able to engage with his shitty, slop content if people can't even afford electronic devices anymore or the video games that he loves hysterically crying about?

 

[Hellowhosthat]

Out of curiosity, what do you do for a living?

He posts shit posts on Sherdog from a Russian bot farm.

I think he's probably one of their lazier employees though

 

[redwire]

That's a single industry and single trade partner, I'm looking for an explanation of the entire plan including the blanket tariffs and someone please help me understand why they used that method to come up with the amounts?

Oh - that's easy. Trump not only doesn't understand tariffs, he also doesn't understand "trade". To him, trade is literally like trading hockey/baseball cards on the playground. He wants the exact value of card returned to him, or, in this case, he wants country X to buy as much from the US as the US buys from country X. If not, then they are imposing 'tariffs' on the US and must be punished by reciprocal tariffs. Sell $100 to the US, but buy $50 from them? 50% tariff. Oh, but he's being nice - he's cutting the reciprocal tariffs in half, so it will only be a "very fair" 25%...

Doesn't matter if that $100 of goods is raw materials that make the US $500 in downstream profits. Doesn't matter if the US can't source it anywhere else. Doesn't matter if it will cause pain and inflation.

 

[Rod1]

It's already a hub for capital goods and the second largest manufacturing nation on the planet. Capex for rolling out factories was through the fucking roof during Biden's term and key legislation was passed to bolster and incentivize it further.

Hopefully in 4 years there will be a neoliberal Dem to fix all the mess caused by Trump... or maybe the GOP will grow some balls and extirpate Trumpism from the party and get the neocons back in again.

Man i miss the HW Bush era.

 

[Hellowhosthat]

Not a fan of the dems on social policy, but economically I wouldn't call them fuck ups.. in fact the pattern is the GOP crashes the economy and the dems save it. Will be no different this time.

The tariffs are an absolute disaster, they won't encourage investment because nobody believes they will stand--what encourages investment is stability, not chaos.

When you look at the list of countries with the highest tariffs they are the countries who produce things we have no interest in making (clothing, cheap electronics). They are not jobs that people want back. All that is going to happen is the inexpensive walmart clothing and daily goods are going to cost twice as much and people will be making the same $$.

Probably fair. You guys have a habit of voting the Republicans in again next time though. I guess if it's a historically colossal fuck up we can probably be confident that the next Republican president won't do it though. It's just a bit of a pain to rearrange all your trade and then try and put it back four years later.

Brits could have told you from Brexit how easy it is to negotiate new deals with people you've pissed off.

 

[Strychnine]

NK doesn’t trade, do they? I thought they were an autarky (they make all goods used there in NK), and are a good example of why trying to do that is a bad idea.

NK does indeed trade (albeit very small). Kim Jong IL spent $1M on Hennesy cognac per year.

Kim Jong-il Spent More on Hennessy in a Year Than Most People Make on Wall Street

North Korea's former dictator, Kim Jong-il, loved patriotism, authoritarian rule and bottles upon bottles of Hennessy. The Supreme Leader allegedly spent roughly $1 million a year on the cognac, ordering cases of bottles that, in North Korea, cost…

www.mic.com

 

[BFoe]

Even the dollar is tanking



At this point I hope we only have a recession. Depression might be on the table if no one can make him flip flop sooner rather than later.

This is an intentional act. Trump’s chief economic advisor Stephen Miran has been arguing for the need to tank the dollar for some time now. It’s a bad idea.

 

[BFoe]

NK does indeed trade (albeit very small). Kim Jong IL spent $1M on Hennesy cognac per year.

Kim Jong-il Spent More on Hennessy in a Year Than Most People Make on Wall Street

North Korea's former dictator, Kim Jong-il, loved patriotism, authoritarian rule and bottles upon bottles of Hennessy. The Supreme Leader allegedly spent roughly $1 million a year on the cognac, ordering cases of bottles that, in North Korea, cost…

www.mic.com

Ha, well I hope he at least gets the XO and not the regular shit.

 

[idrankyourbeer]

Trump supporters would vote for a recession if it means they get to post boomer facebook memes from a decade ago about how people they are afraid of are sad.

looks like they already have. the economists are predicting a recession, and this morning the dow jones just sank to the lowest it's been all year.

but it will all be worth liberating your wallet from your money as long as we get some memes and mean tweets out of it.

trump's america.

 

[CantCucktheTuck]

North Korea isn't either.

what do you buy from North Korea?

 

[GreatSaintGuillotine]

No matter how bad it gets there will be no accountability.

 

[BFoe]

Hopefully in 4 years there will be a neoliberal Dem to fix all the mess caused by Trump... or maybe the GOP will grow some balls and extirpate Trumpism from the party and get the neocons back in again.

Man i miss the HW Bush era.

The MMA fan in me read this

HW Bush

As “Heavyweight Bush” at first
I was like “no way, he was a small WW at best.”

 

[jefferz]

How does this dumbass think that people will even be able to engage with his shitty, slop content if people can't even afford electronic devices anymore or the video games that he loves hysterically crying about?

The Quartering is the guy that got mad at his wife for going out for pizza without him, so he decided to get black out drunk on stream, and piss down the floor drain in his streaming room.

 

[HockeyBjj]

Even gold has gone down today. How do you do that? People don’t even want their money in something as nonvolatile as literal gold

 

[Strychnine]

what do you buy from North Korea?

Nothing.

What do you buy from Russia?

I buy...

I'm not buying it anymore though. Screw Russia.

 

[Darkavius]

Hopefully in 4 years there will be a neoliberal Dem to fix all the mess caused by Trump... or maybe the GOP will grow some balls and extirpate Trumpism from the party and get the neocons back in again.

Man i miss the HW Bush era.

That last sentence would sound crazy 15 years ago. Crazy how times change.

 

[BlankaPresident]

When did we start talking deficits? I thought we were talking about tariffs. Deficits are a different discussion.

Tell that to whoever calculated these new American tariffs lol

 

[HOLA]

Trump Jets Off to Watch Golf as U.S. Economy Goes Up in Flames

The stock market is in free fall, but the president is headed to Florida.

www.thedailybeast.com

 

[GreatSaintGuillotine]

The MMA fan in me read this

As “Heavyweight Bush” at first
I was like “no way, he was a small WW at best.”

HW Bush vs Sea Level Cain