Trump Does his Awesome New Tariffs. Winning!!

Trying to reason with MAGA is akin to trying to teach a pig to sing

 

Are you ever going to come back and recognize the mistake that you made since Canada announced their $1.3 billion last year?

 

Trump's tariffs are expected to cost U.S. car buyers yuge-ly. Even for cars that are manufactured in the U.S., a significant percentage of the parts are made in other countries. No auto-maker makes more than 75% of the parts for their cars in the U.S. Tesla 3 and Honda Ridgeline are considered to have more than 75% American parts, but that includes parts from Canada, so no dice.

Car dealers are trying to hold on to their current inventories, so don't expect any fantastic deals if you go to the dealership ahead of the tariffs. The cost of new cars is expected to increase by $3,500-12,000. Remember, folks, it's not too late to start hating Trump for this.

Another win for Trump-flation, another loss for the American public.

https://edition.cnn.com/2025/03/01/business/car-prices-tariff-impact/index.html

 

I assume exchange rate advantage actually means cost of living advantage.

I guess that CEO expects that he won’t be able to assemble final goods in the US as it will be too expensive after the tariffs on the raw goods or components? Just a guess. Does seem odd.

 

Trump confirms that his tariffs will take effect tomorrow, Mar. 3.

“Tomorrow, tariffs — 25 percent on Canada and 25 percent on Mexico. And that’ll start. So they’re going to have to have a tariff. So what they have to do is build their car plants frankly and other things in the United States, in which case they have no tariffs,” the president told reporters."

 

And stocks are reacting predictably to such economic idiocy.

 

Apparently the stock market is taking Trump's tariff proposal seriously. The Dow was down around 648 points today. The S&P 500 was down around 105.

 

Yup... plummeted as the words dripped from his fat mouth.

 

Great. Trump is disrupting our global relations and influence, wrecking our gov, I guess next up is harm our economy.

 

Meh... this is necessary.

 

I wonder if this changes Musk's mind about a "necessary economic collapse."

"Ontario Premier Doug Ford has pledged to cancel a nearly $70 million contract with Elon Musk’s Starlink and to cut energy exports.“I can’t for the life of me figure out why this guy’s attacking his closest neighbors, allies and friend,” Ford told reporters on Monday. “…If they want to try to annihilate Ontario, I will do everything, including cut off their energy with a smile on my face.”

Mighty cavalier about tanking the US economy.

 

The gifts to China keep on coming.

 

I have a relative who runs one of the largest seafood companies in Canada. He will literally lose millions in valuation this week, a company he has spent his whole adult life building, and which benefits the US in lower prices and efficiencies. Longer term, who knows how much business he will lose on US imports over long term supply chain concerns. Over something he had nothing to do with and didn’t benefit from.
Meanwhile Americans will pay more for the seafood regardless, along with fewer jobs for those on this side of the border if imports go down. And for what? Is Canada some big economic or political threat none of us are aware of? Fentanyl is the current excuse, a grand total of 43 pounds were seized last year at the Canadian border. 43 pounds, vs 21k pounds from Mexico, and a good chunk of that was probably individuals being dumb.
Every single war we have gone to, they have sent troops with us. Lost lives, had to face the global repercussions from wars like Iraq and Afghanistan and yet they have still supported us. They have been our biggest trading partner and best overall partner for 2 centuries only to get treated like they are some third world gum on the sole of our shoe and a political punching bag, the same as Mexico.
And for me personally, five figures lost today from my own investments, and am expecting to lose much much more before this lunacy ends, but the damage being done will have decades long effects. Will likely delay my retirement by a year or two if the market does as expected, since it was already vulnerable.
Shiller PE Ratio - Multpl

It’s beyond moronic.

 

I put this on the other thread too. This was the text I got yesterday from one of my division finance managers:

"[Product Executive] is in market and says this tariff impact is coming fast and furious. Initially 10%, now another 10%. [Supplier Name] already called her and said they are raising their costs 4.5% on April forward..."

We will add our markup on top of the cost increase so our customers will see an 8% cost increase on affected goods.

The impact is that customers will buy fewer units at higher prices. We will buy less materials, need less salespeople, do less shipping, and all of those will have labor cuts that will accompany the new lower unit level for us and everyone on the entire supply chain. My guess is there will be a noticeable impact to GDP as predicted by the FED.

Trump news live: U.S. forecast to enter recession after Trump crashes markets with tariffs on Canada, China and Mexico | The Independent

The first quarter is on track for negative GDP growth, Atlanta Fed indicator says

thehill.com/business/5169308-atlanta-fed-gdp-contraction/