Live updates: Trump announces sweeping tariffs
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The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.
in addition to buy low, sell high... perhaps even more lucrative, the crash will be used as an excuse for another massive corporate bailout benefiting the wealthiest business owners and will accelerate the transfer of wealth from govt (taxpayers/poors) to private interests (oligarchs and bankers). this happened in 2008, during Covid PPP, and it will happen again.
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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.
wealthy people are not a monolith. some, those with advance warning (insider advantage) will benefit while others lose out. this is not just about rich vs poor, it's also ultra rich vs ultra rich, cabals of powerful elites vying for control of global markets in the chaotic aftermath of global financial restructuring.
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"The corporations own the government" made sense for a while, but Trump has done enough to hurt said corporations lately that I'm actually starting to question that idea (it's definitely true for the majority of Democrats though).
The corporations thought they own the government. They bought Trump into the White House. They should have known that he is mad.
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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 is just going to fuck up the US economy rather than meaningfully affect any other country. you don't fucking produce anything worth a shit anymore.
Trump has no idea how the economy works, his wealth is propped up by Russian oligarchs laundering money through his assets.
This move is almost certainly being directed to him through foreign agents the traitor has as advisors (though they consider themselves handlers) on behalf of Putin and other regimes hostile to the US who back door'd their way into the situation through his greed and lack of morality.
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Conveniently left Russia out. I wonder why.
I think you're reading too much into that.
They're either under "Rest of world" like the EU, or the US doesn't import anything from it, which as it's under sanctions, it shouldn't - nor export to.
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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
I checked and this does seem to fit for Switzerland.
Trade deficit of US to Switzerland: 38.5 B
Exports from Switzerland to US: 63.4 BRatio of the two: 61%
Half of that as "reciprocal" tariff: 31%
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The corporations thought they own the government. They bought Trump into the White House. They should have known that he is mad.
Nope they should have realised that even though they "own" this government, the president is communicating with a foreign server they don't own.
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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.
Wait, what?
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Conveniently left Russia out. I wonder why.
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Boycott the USA. Do not consume American products. Do not travel to the US. Cancel your subscriptions, find alternatives or pirate their software and media. Make Americans tourists feel unwelcome.
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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% -
The corporations thought they own the government. They bought Trump into the White House. They should have known that he is mad.
The owners of the corporations own the govt. They are loyal to no company and no country. They can take their money anywhere, but so long as they are in the us they would prefer that the tax burden be shifted onto the people and off of them, with as few restrictions as possible on their own behavior.
The owners are still quite happy with trump. It's all of the littler con voters who are hopefully now reconsidering their vote.
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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 is just going to fuck up the US economy rather than meaningfully affect any other country. you don't fucking produce anything worth a shit anymore.
It will have an effect on other countries, but fuck up the US economy the worst. Other countries have the benefit of having 190+ other countries to do trade with. Over the next few years, they will increasingly go for alternatives to whatever they've previously traded with the US. Thanks to the stable genius, the US will permanently be left poorer, while other countries will soon have economic growth again.
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I have to get bigger bootstraps.
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I think you're reading too much into that.
They're either under "Rest of world" like the EU, or the US doesn't import anything from it, which as it's under sanctions, it shouldn't - nor export to.
Like the EU?
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US dollar in absolute freefall. Thursday is going to be a bloodbath when the market opens.
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The owners of the corporations own the govt. They are loyal to no company and no country. They can take their money anywhere, but so long as they are in the us they would prefer that the tax burden be shifted onto the people and off of them, with as few restrictions as possible on their own behavior.
The owners are still quite happy with trump. It's all of the littler con voters who are hopefully now reconsidering their vote.
The corporate sponsors are only needed for elections. No elections, no sponsors...
