Live updates: Trump announces sweeping tariffs
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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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won’t countries stop using the us dollar as the backing reserve
Yeah. Putin's gonna be so pleased.
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american juche now!
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Buying from other economies does two things. One, you have access to their expertise/efficiency.
Not everyone will have invested in the same industry.
Will miss out on cheap labour. Cheap resources.
Don't be dumb though, selling us USD for our products isn't just "printing paper". We use those USD (mostly we sell the debt to china) to buy USA companies. It's capitalism after all.
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unable to reproduce this, sorry
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The act and tariffs imposed by U.S.'s trading partners in retaliation [for the Smoot-Hawley Tariff Act] were major factors in the reduction of American exports and imports by 67% during the Great Depression.
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Same. Got chickens, veg seeds, and I'm about to buy a bow for hunting my own meat. Fuck the US, time to crack out that survivalism I've been practicing.
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Fuck Cambodia specifically. Trump probably got a bad VD from there at some point.
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I get where you're coming from, but the whole tourist thing . . . remember half of us fucking despise Trump and his merry band of fascist fuckwits.
