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.
wrote 7 days ago last edited bywealthy 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).
wrote 7 days ago last edited byThe 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%wrote 7 days ago last edited byRussian asset undermining American interests and alliances. Can't imagine why.
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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.
wrote 7 days ago last edited byTrump 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.
wrote 7 days ago last edited byI 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
wrote 7 days ago last edited byI 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.
wrote 7 days ago last edited byNope 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.
wrote 7 days ago last edited byWait, what?
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Conveniently left Russia out. I wonder why.
wrote 7 days ago last edited byThey are rest of the World. How dissrespectfull.
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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.
wrote 7 days ago last edited byMake America go away!
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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%wrote 7 days ago last edited byIronically crashing the economy is one of the best things you can do to slow down climate change
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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.
wrote 7 days ago last edited byThe 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%wrote 7 days ago last edited byWhat a dumbass
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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.
wrote 7 days ago last edited byIt 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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Last I saw, it was 360k.
wrote 7 days ago last edited byI have to get bigger bootstraps.
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wrote 7 days ago last edited by
"Death to America" is no longer a call to action; now it's just remarking on current events.
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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.
wrote 7 days ago last edited byLike the EU?
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US dollar in absolute freefall. Thursday is going to be a bloodbath when the market opens.
wrote 7 days ago last edited byIt's 8D chess. By crashing the economy and the dollar he can then increase the price of gold and liquidate Ft Knox at the perfect time. Then he can replace the dollar with trumpcoin. Truly a genius and a patriot.
Is /s needed?
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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.
wrote 7 days ago last edited byThe corporate sponsors are only needed for elections. No elections, no sponsors...
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US dollar in absolute freefall. Thursday is going to be a bloodbath when the market opens.
wrote 7 days ago last edited by1.084USD per EUR yesterday moved to 1.097USD per EUR today.