Live updates: Trump announces sweeping tariffs
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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.
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Mainly American people's lives.
He's basically making everything more expensive in USA that is not made in USA, but most things made in USA are dependent on imported parts, fertilizers, components, raw materials etc... This is going to be a mess to witness -
No, it's half the tariff those countries place on American goods. Or so he claims. I have no idea where those numbers come from.
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This is going to be a bloody mess to witness from the outside. The US are shooting their own foot again and again with a bazooka and it is going to hurt the majority of its population
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And we'll know exactly which countries bought him off
