Live updates: Trump announces sweeping tariffs
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I'm all for "it's benefitting the billionaires," and that's what tariffs do, but most of the ultra-wealthy's money is tied up in the market, too.
Some of the administration's actions really are them drinking their own Kool-aid. Like, what they've done to the HHS is objectively detrimental to the ultra-wealthy old guys too.
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I'll take that pledge without even visiting your country! Then again when I do!
Seriously though, this regime is terrible and some of us are protesting every opportunity we can get. I'll be the first to admit America has deeply rooted problems but some of us are trying to fix it and would like to not be treated like shit for the actions of the magats
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Thanks for typing out the percentages, so far I've only seen emotional news reports about it without any detailed info.
Are these tariffs on ALL goods from a certain country? Eg, does 34% on China mean 34% on ALL Chinese goods or just certain ones like cars?
Well, one of two things will happen now.
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The US economy will recede by roughly 30% over the coming years (classified by economists as "catastrophic collapse")
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It will turn out that trade was "fake and gay" all along and autarky is the way to go, despite centuries of historic lessons to the contrary.
Take your pick.
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Oh boy. It's stagflation time
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I was gonna get me some Cambodia and Vietnam from eBay. Now what?
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Can't wait for tomorrow's sell off. Its going to be a black Friday Friday.
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I swear that if we could just all ignore him unless he does nice things, we'll make him stop. The tariffs are not his plan. That's someone else.pulling the strings. He just likes the attention. Giving a malignant narcissist any kind of supply is just going to make him worse.
Gray rock the shit out of him.
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It's all goods from those countries.
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- Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that are not available in the United States.
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The glue eating rageaholic is doing the opposite of this. He's going to tarrif farming EXPORTS from the US.
Never in our history has america had such a stupid president.
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I don't know what the actual reasoning is but the 49% on Cambodia and Vietnam sounds an awful lot like how we still embargo Cuba like decades after failing to overthrow Castro.
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30% seems pretty generous. Nevermind the complete collapse of trade and alliances we built over the past century, won't countries stop using the us dollar as the backing reserve? Which will likely set america on an even further downward trend, especially since the dollar isn't on the gold standard anymore?
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but most of the ultra-wealthy’s money is tied up in the market, too.
The ultra-wealthy have enough of a buffer to buy out all the middling-wealthy when they go bankrupt. They can buy the dip without themselves going bankrupt.
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And, for wrecking their business, had to bail the farmers out with the tariff money lol
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Figured out where these fake tariff rates come from that Trump is claiming. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
Copied from twitter from someone who’s suffering insomnia right now.
Figured out where these fake tariff rates come from that Trump is claiming. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
Source of these trade deficit numbers is in https://www.reddit.com/r/Thailand/s/TKZ68gLs6z
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