wrong. The formula used by the Trump administration to levy reciprocal tariffs contains a serious math error that over-inflates the impact by about a factor of four, economists at the American Enterprise Institute said. Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
Given that the Trumpy clown doled out $23 billion to farmers last time, it's probably reasonable to assume a similar amount is on the way this time. So the Idiot will have cut the entirety of US global aid ........ only to spend almost the same amount (or possibly more) on bailing out farmers alone due to his clownish tariffs. The absurdity of this is really beyond words. Can anyone imagine being a grown adult and actually supporting, or having voted for, this steaming chit show?
“We cannot overstate what has just happened. It took just 71 days for Donald Trump to wreck the American economy, mortally wound NATO, and destroy the American-led world order.” The American Age Is Over
Smaller economies have to protect their industries from larger economies. Canada wants to have a dairy industry to feed its own people. Without the tariffs, smaller Canadian farming operations could not compete with U.S. farmers. One bad year (from weather, a contagious animal disease, whatever), and Canadian farmers would be wiped out, if the consumers were free to choose the cheapest milk on the market. Without tariffs, Canadians would only be able to compete in lumber and oil. Any country would want to have a more diversified economy than that. Tariffs allow them to have a diversified economy. Canada will never be able to compete on quantity with U.S. manufacturing (other than lumber/oil), so they use tariffs to protect their other industries. Their consumers are forced to pay a price, but they have jobs. U.S. companies rarely need to be protected from foreign competition. China is one case, since they don't follow the rules of international competition. You really should not argue over the results: the U.S. has the largest economy in the world by far, while playing within the rules of international competition. China is second, but they break the rules routinely. Changing the way we do things in the U.S. is far more likely to damage the U.S. economy than help it. At the very least, you should confirm that 90% of the experts agree with what you're doing. In the case of the Trump tariffs, more than 90% of the economic experts disagree with them. Our goal is not to smash all the other countries in every industry; to take everything and leave them nothing. That would make the world a more dangerous place, and would damage our economy in the long run.
Sure the stock market is about to be down 15% in 3 days but at least we're saving $2 million from Zimbabwe. Now we just need to do the same for a few hundred thousand more countries and we'll come close to approaching the market value that's been wiped out.
In addition to crashing the stock market, and the continued route shaping for tomorrow in the futures, Donny's "Liberation Day" tariffs are adding $200 million dollars per day to import costs -- which US consumers will have to eat ... Per Fox Business news. (They put a positive spin on it, though, as if that $200 million is appearing out of thin air.)
The average hourly wage of Chinese factory worker is $3.90 in US currency... Are these supposed to be the "black jobs" Trump promised?
Why in god's name would we want to make iPhones here when we can continue to rip off China? insane!! oh & by the way we currently have the ability to make 0.
Apple would have about 0% of the international mkt if they made them here...they'd only have domestic sales if we keep astronomical tariffs. What a bunch of anti capitalist morons. oh yeah, & iPhones would be the Yugo of mobile phones.
The thing about the economy is it is like a freight train, it takes a huge amount of energy (or stupidity, in this case) to slow it down, stop it, and reverse direction ... and once it's rolling backwards, it's equally hard to stop ... Trump may think he's smart enough to push the world to the brink, get some concessions, then pull us back into full steam ahead ... but he's not that smart. The longer this goes on, the longer it's going to take to "fix" it.
It’s fun to think about how almost every Republican president for the last 50 years has an economic crash so bad that it actually gets a name…. Reagan = Black Monday Bush II = the Great Recession Trump I = The Covid Crash Trump II =???? (I’m thinking “The Trump Dump”… attach his name to it since he’s single handedly causing it).
