Live updates: Trump announces sweeping tariffs
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And just like that every American good costs significantly more.
If your family income is less than about $200,000, congratulations, your tax rate has at least doubled.
How much do I have to make before my tax bill goes down?
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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?
He was inside you all along
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How much do I have to make before my tax bill goes down?
Last 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.
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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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.
Americans 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% -
Why is Canada not on the list?
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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Is he using a random number generator?
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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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 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.
Like 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.
At 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?
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 -
Is he using a random number generator?
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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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 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.
And we'll know exactly which countries bought him off
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Americans will be paying the tariffs, not foreign companies.
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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.
He 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.
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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%And our swiss right-wing populists thought Trump was better for the economy. 31% down their stupid throats
