Live updates: Trump announces sweeping tariffs
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Rest of the world is 10%. I assume that's what they'll see.
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And just like that every American good costs significantly more.
If your family income is less than about $200,000, congratulations, your tax rate has at least doubled.
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bamboozle them with bullshit
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What is looking like more of an idiot than he already does going to accomplish? He's the most idiotic politician in living memory, by far, and there are some absolutely colossal morons on that list. The people who haven't figured that out are never going to. They will be praising him until the day they die.
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It isn't quite that easy.
The US is a MASSIVE part of basically every luxury industry and isn't insignificant in many others. So while alternate trading partners can be found to handle stuff like lumber, plenty of industries are going to be hit real hard and not have alternative customers. And they aren't going to just want to lower their profits for national pride.
But yeah. I REALLY hope trump is just actively destroying the US either in the name of putin or just out of anger and spite over not winning in 2020. Because the alternative is that we are all going to suffer so fucking much because that piece of shit doesn't understand what tariffs are.
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The guy is really playing economic Russian roulette. This can consequently go terrible wrong for the US.
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How much do I have to make before my tax bill goes down?
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The effects of widespread tariffs is well known.
You will lose industry that makes high added-value products, and increase the production of products with low added-value. (Most people call this "deindustrialization".)
Tariffs mostly don't impact the overall trade balance, so both will change in similar amounts.
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Maybe because he’s waiting until the election is over? He’s probably noticed by now that he’s hurting Canada’s Conservative Party.
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It's probably like his net worth, where "it goes up and down with the markets and with attitudes and with feelings", "even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day".
https://money.cnn.com/2011/04/21/news/companies/donald_trump/index.htm
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This is kind of hilarious in a dumb way. It's going to hit american consumers like a goddamn hammer, and will be rewarded with tariffs going the other way, and we'll all be poorer. Americans most of all.
If he keeps going like this you'll end up with stagflation - high inflation and a stagnating or recessive economy. That shit is hard to get out of, good luck.
