Live updates: Trump announces sweeping tariffs
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Does that mean oil is also 10% up?
Probably fucking subsidized instead, though I didn’t see specifics about fossil fuels
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The tiny scale artists still have to buy supplies. And eat, and pay rent.
Don’t forget, this is a regressive tax, and small craft workers tend to be poor.
Their prices will go up as much. It may even be worse for them, in aggregate, even if selling more of their stuff.
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Tarrifs are a Trump Tax on ordinary Americans so they can give tax breaks to billionaires.
Bingo.
It’s true in many roundabout ways, but the math adds up to “break for billionaires.”
Like, it’s full of nepotism, too. Take the discrete tax on automobiles and auto parts: I'll give you one guess on who that benefits.
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Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%Smells like Smoot-Hawley up in this bitch.
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Why the fuck is our media so bad that they blindly accept Trump's bullshit line that the tariffs are "reciprocal"? Are they just stupid or have they been paid off? Do they not know the meaning of "reciprocal" or are they just too fucking lazy to question the White House's rhetoric even a little bit?
The state of the United States makes me sick. We're being robbed blind buy the oligarchy in broad daylight while the media gleefully amplifies the administrations lies.
Most headlines I see are going with 10%, which is a big understatement.
It’s because they’re run by billionaires. Even liberal, big outlets harp on cultural issues to redirect focus.
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Fewer people in the US are going to want to spend that much on a plushy. Unemployment is going to rise under Trump. There will be increased costs for needs and less cash for wants. But we will probably have continued inequality, so if a small scale artist can sell to rich people, they may do well.
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Honestly, at this point, I think it's time to just call it a day on the very idea of the US as a single unified nation. The Constitution has been demonstrated, beyond a shadow of a doubt, to be utterly incapable of actually doing its job. It's a 200+ year old document written in a different age, by people who didn't have hundreds of examples of modern democracies to draw upon. It was a good attempt, but it's horribly obsolete at this point. And our institutions are equally not up to the task. And it was written by 13 states who each joined willingly. If you gave each state a chance to join the current US today, how many would actually do it?
We need to peacefully dissolve the whole thing. Dissolve the federal government; grant every state full independence. The states can then come together into whatever number of new nations they wish to form.
This clearly isn't working. Half the country has completely given up on the Constitution, and the other half thinks institutions and laws alone will magically fix the problem. We've crossed the Rubicon. Once a president is allowed to get away with this level of flagrant law breaking, once the courts have become this corrupted, once the system has become so sclerotic and fundamentally incapable of meeting the needs of the people? It's time to call it quits. There's no repairing a system like this. Even if free and fair elections happen, electing a Democrat in 2028 will not fix this problem. At best, we'll get 4 more years of useless waffling, and then another fascist will get elected in 2032.
The US is a couple that has reached an impasse of irreconcilable differences. The US had a good run, but at this point it's time to admit that it's run its course, and it is time to move on.
The US isn't even really a nation; it's more of an empire. There are vast regional differences in the country. The cultures and desired governments of the people in the different regions vary substantially. But because we're all locked together in this bloated dying husk of an empire, nobody is happy. There's a reason the oldest countries in the world tend to be smaller ones. Empires are held together by force, not by common culture and shared values. They tend to collapse under their own weight and contradictions eventually. And the US is no exception.
And we shouldn't mourn this. The US had a good run. It did some cool things and made some real advancements on the human story. But governments exist ultimately to serve the people. Can anyone really say with a straight face that the people of the US wouldn't be better served by breaking the US into a series of smaller, more manageable nations that better reflect the will of their people? Would all the nations that border the Mediterranean really be better off if they were still united in the Roman Empire? Would all of Latin America outside of Brazil be better off if it was all still New Spain? Would the people of Asia be happier if they were still united in some post-Mongol empire? I don't think so.
Sometimes you just need to let things die. It's time to put the United States out of its misery. We can do better.
Who gets to keep the nukes?
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Holy shit the post-market drops for SPY and QQQ are insane. I haven't seen a post/pre market move this sharp since Covid
They’ll try to spin it in tomorrows finance news, so it may be sharp but not as sharp as it should be.
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So is the plan to drive the cost of everyday essentials so high that virtually everyone bankrupts and the billionaires buy all of our assets for pennies on the thousand dollars? That is all I can come up with trying to make a scenario where this has some coherent objective.
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Did he wait until late afternoon Apr 2nd?
He failed to do it "the day l'm elected."
He failed to do it the day he was sworn in.
He failed to do it, like 5 times from Jan - Mar.
He failed to do it Apr 1.
He failed to do business during business hours Apr 2nd.
This little baby just keeps failing and hiding.
But....he's still racist right? Because that's all I care about. Making sure it's still okay to be racist.
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Cambodia be like
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Imagine he's golfing and a fucking engine block of a 1982 Buick Regal comes sailing through the air from 200 meters.
One can only dream.
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Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%This gold from wallstreetbets:
Soooo is the tariffs charged to the United States really a ratio of the trade imbalance?? For example Vietnam imported roughly 14.6 billion in goods from the United States, and we imported around 146 billion, so thus they have decided tariffs are 90% to the United States…thus we are putting a tariff on them of half of that…which means we are literally tariffing the goods we either a)need more or b) get more efficiently at a higher rate?
That may be the absolute dumbest way to create a tariff policy I could imagine if that is the case…which it looks to be.https://old.reddit.com/r/wallstreetbets/comments/1jpzhje/tariff_chart_released/ml476s7/
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Lmfao buckle up for the second Great Depression, everyone! It’ll be fun! ᕕ( ᐛ )ᕗ
With hundreds of millions of high powered weapons floating around?
You bet!! ᕕ(ᐛ)ᕗ
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Nah, that ship has sailed. They'll never cut diplomatic ties, because why would they?
They've already decided they need to come together to live in a world without the US... They're already making trade deals and new defense pacts, they're already planning around us
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That, or he might actually like Mark Carney. The entire tone seemed to change after they spoke.
He saw how much support Poilievre lost after he praised him, so now Mr Big Brain is trying reverse psychology.
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Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%Sweeping tariffs? Shit, I need a new broom
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Who gets to keep the nukes?
This and a hundred other issues would be settled in the process of negotiating the breakup. Odds are only a handful of states would want them, as only a handful would have the economic base to support their upkeep. Nukes are expensive as hell to build and maintain. New York, California, Texas, etc. Like any divorce, you have to negotiate and find a way of dividing communal property.
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He wants to use tariffs (which act like a flat-tax) to lower income tax on the rich. There's speculation he's also doing something like the "Mar-a-Lago Accord," which involves devaluing the dollar (causing inflation). If wages don't rise with the inflation (which they don't want), US labor will be more competitive, so people can work in factory jobs with pay analogous to current Chinese factory workers.
Project 2025 says he wants to have tariffs removed against the US. Assuming he's really following it.
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I mean, this will suck in rhe short term, but these companies will exit the U.S. market if it gets to be uneconomical, and we'll be fucked, not them. Trump's I Am sO sMaRt comments all the time will make him look like an even bigger idiot than he already does.
If we actually want manufacturing in the U.S., give companies incentives to do business here. This is the opposite of incentives.
If we actually want manufacturing in the U.S., give companies incentives to do business here
Like the CHIPS act? The EV and related items? Infrastructure? High speed rail (most of which has a made in us requirement)? What happened to those again?
