The White House pushes the announcement back until after the markets are closed. A clear sign of confidence and totally not wanting to avoid the news stations having real-time market prices in the corner while he speaks.
You guys are way too little, intellectually, to understand the concept of tariffs and their impact on the economy. History has not been kind to the instigators of tariffs, and Trump will be no exception. Virtually all of the economists in the U.S. were against tariffs in 1930, but Hoover insisted, and it turned a bad situation (a stock market crash) into an even worse one (the Great Depression). Hoover was disgraced and done in 1932, paving the way for FDR, who had to drive taxes up to astronomical levels to fund civic works projects just to pay people a dollar a day so they could eat. All because Hoover thought he was catering to wealthy industrialists and was doing the country a favor (he wasn't). Also, remember that the U.S. Great Depression also spread around the world, causing unrest and hostility that led to the rise of the Nazi Party in Germany and World War II. The question for you is: do you understand that Trump's stupidity could lead to WWIII? He's working more than one angle on starting WWIII, including encouraging China and Russia to invade their neighbors and steal resources without repercussions, and encouraging their victims to seek peace at all costs. Would that outcome make you happy?
we've always had some tariffs, right? The question is on what and how much. meanwhile, as much as I dislike everything about Trump, I'm not buying the idea that some have posted that he's trying to destroy the economy, destroy the country. I don't know why he's doing all this, but I can't buy that yet.
Liberation Day announcement of details delayed until close of markets tomorrow. Too embarrassing to watch markets tank while delivery his address
I don't think that he's intentionally destroying the country, but like Hoover, he thinks he's doing a favor for the industrialist billionaires, and the wealth will trickle down to everyone else. That's not how it works. Tariffs are something you do to punish a country, whether it is for invading another country, dumping products on your market, or unfair business practices, like stealing technology. As you punish the other country, you are also taking some punishment as well, because your own people are paying more for their products. There is no reason to punish countries like Canada and Mexico. There is nothing wrong with them getting a piece of the action and contributing to our products. Like paying $800k to create a $80k/yr job, the math does not work out with tariffs. People stop buying things when they get too expensive, especially when they know that the next president will almost certainly kill the tariffs and bring the prices down. When people stop buying things, that's when you get a recession. Maybe Trump will back down if he sees a recession coming, or maybe he doubles down on his theory that tariffs are good for the economy.
I can see massive bailouts for farmers in the near future. just add it to the debt Tariff-battered U.S. farmers are getting exactly what they deserve: ex-GOP insider "Farm costs will rise," Frum explains. "Farm incomes will drop. Under Trump’s tariffs, farmers will pay more for fertilizer. They will pay more for farm equipment. They will pay more for the fuel to ship their products to market. When foreign countries retaliate, raising their own tariff barriers, American farmers will lose export markets. Their domestic sales will come under pressure too, because tariffs will shrink Americans’ disposable incomes: Consumers will have to cut back everywhere, including at the grocery store." Despite the hardships that farmers will endure, Frum argues that they are not deserving of sympathy or financial relief, especially given that "farmers can better afford to pay the price of Trump’s tariffs than many other tariff victims," as they "can already obtain federal insurance against depressed prices for their products."
Liberation or a huge tax increase? I don’t claim to know Trump Set To Announce Biggest Tax Increase On Americans In Decades
Ag Secretary Brooke Rollins says USDA ready to bail out farmers damaged by tariff backlash The U.S. Department of Agriculture has the "infrastructure necessary" to send farmers what could be billions of dollars to offset damage resulting from retaliation for President Donald Trump's tariffs on America's trading partners, U.S. Agriculture Secretary Brooke Rollins said Monday in Iowa. Rollins, who began a day of events in Iowa with a tour of Elite Octane, a 150-million-gallon-a-year ethanol plant in the western Iowa city of Atlantic, said the USDA is awaiting Trump's final decision on tariffs to assess how it might affect farmers. Trump said Sunday he expects to place reciprocal tariffs on all countries the U.S. trades with, not just 10 to 15 of the largest. https://www.desmoinesregister.com/s...rooke-rollins-usda-trump-tariffs/82734817007/ We've seen this movie before. Trump will need to bail out US farmers with billions of dollars because they will be heard by tariffs
I don't understand, I thought tariffs are blank checks that other countries give the US so they can do trade with us, and friendly countries like China, and even enemy countries like Canada, Mexico and Greenland, are going to hand us 100s of Billions of dollars? Why would farmers be hurt? Something doesn't add up here, but I can't quite put my finger on it ...
Liberation Day Show is live. Have to say Trump is a showman. You can see the appeal, whether you agree or not.
Well, the markets are going to love the 10% tariffs on everybody and elevated tariffs of 30-40% on Asia and 20% on Europe on entirely made up numbers.
Disagree with Trump and you're a gutless, spineless coward: Just because prices go up doesn't mean it's inflation. Homepage | Media Matters for America
Well, maybe not made up since Percentages mean nothing. Absolute comparable currency adjusted cost is what matters.
