Live updates: Trump announces sweeping tariffs
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I'd love to open the news one evening and not feel like we're another step closer to the apocalypse.
Honestly, fuck Trump. Where my Luigis at?
wrote 7 days ago last edited byHe was inside you all along
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How much do I have to make before my tax bill goes down?
wrote 7 days ago last edited byLast I saw, it was 360k.
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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.
wrote 7 days ago last edited byThe 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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Trump: Meta will invest $500 billion.
Truth: Meta will invest around $60 billion.
Thats a gross mis representation of what’s factually correct in monetary terms.
This fucking asshat is going to sink the American economy. No major company is going to do this. Why would TSMC spend “$500 billion” to build a factory?
Them just paying the tariff would be less than building a new factory. They just need to survive trumps term and frankly, when the U.S. can’t get chips at an affordable price from Taiwan, those tariffs will fall away like a pillar or sandbar high tide.
Absolutely dumbest fucking turd on the planet.
wrote 7 days ago last edited byAmericans will be paying the tariffs, not foreign companies.
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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 byWhelp, guess I'm joining the Boycott US movement
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Why is Canada not on the list?
wrote 7 days ago last edited byMaybe 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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Is he using a random number generator?
wrote 7 days ago last edited byIt'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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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 byThis 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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The guy is really playing economic Russian roulette. This can consequently go terrible wrong for the US.
wrote 7 days ago last edited byLike playing ruzzian roulette with a full clip.
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Rest of the world is 10%. I assume that's what they'll see.
wrote 7 days ago last edited byAt least Brazil has tariffs large than that already. I doubt he will decrease them.
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Why is Canada not on the list?
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A lot of people’s lives are about to get more expensive… again.
<butterfly meme> Is this winning?
wrote 7 days ago last edited byMainly 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 -
Is he using a random number generator?
wrote 7 days ago last edited byNo, 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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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 byThis 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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They'll be reverted as soon as he gets some flattery and palm greasing from the right people.
wrote 7 days ago last edited byAnd we'll know exactly which countries bought him off
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Americans will be paying the tariffs, not foreign companies.
wrote 7 days ago last edited byWell they'll also be paying it in reduced revenue lmao everyone loses
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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.
wrote 7 days ago last edited byHe doesn't understand what VAT is.
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Trump: Meta will invest $500 billion.
Truth: Meta will invest around $60 billion.
Thats a gross mis representation of what’s factually correct in monetary terms.
This fucking asshat is going to sink the American economy. No major company is going to do this. Why would TSMC spend “$500 billion” to build a factory?
Them just paying the tariff would be less than building a new factory. They just need to survive trumps term and frankly, when the U.S. can’t get chips at an affordable price from Taiwan, those tariffs will fall away like a pillar or sandbar high tide.
Absolutely dumbest fucking turd on the planet.
wrote 7 days ago last edited byI wish TSMC would open a factory in Europe.
Not only would it be very advantageous for the EU, it would sting like hell for the US.
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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 byAnd our swiss right-wing populists thought Trump was better for the economy. 31% down their stupid throats
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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 byY'all better start learning Chinese