Trump Does his Awesome New Tariffs. Winning!!

Jobs for our IRA’s and stock gains. Ultimately leads to a trade imbalance and lack of a manufacturing base. But did you see that chart!

 

I think the 46% tariff on Vietnam is the most upsetting to me. I lived & worked there. They hate China & they love the US. it's so epically stupid.

 

You would have to define "work". As of the close of 2024, 87% of the American economy was based on services. Pissing off our trading partners, who can certainly figure out their own service industry without our help if they choose to, and doing all of this economic damage to bolster the 13% of the economy that is based on manufacturing would have to have a really interesting definition of "work".

Meanwhile, many of those who already shop at Wal-Mart and Dollar General just to ensure that they get by are going to be wiped out when all of their necessities go up by 46% overnight. And, for anyone who assumes that Wal-Mart will just "absorb" those costs, remember, scumbags like Lutnick are the very same large shareholders in companies like Wal-Mart demanding increasing revenue and profits. That is inconsistent with absorbing 46% increases in input costs.

 

All this from a guy who has led his various companies and entities into bankruptcy 6 times.

I wonder if his vast lack of understanding of anything financial led to any of those bankruptcies?

 

no, his overwhelming management fees intentionally bankrupted them. and then banks lent him more money, best con man ever

 

It's pretty clear at this point given the essentially made up numbers and things like uninhabited islands that there's no actual economic analysis behind these tariffs. It's just a means to bully countries into giving us some sort of concession.

Now whether that happens at all or happens soon enough before we drive the country into a deep recession remains to be seen.

 

Speaking of deficits, they are now predicting a 10% drop in tourism, adjusted up from 5%. Billions of dollars not coming into our economy that Trump posters here have said we don't want/need.

 

Saddest part is that the global CEO's know that this moron is a lame-duck president and that his policies are transitory. Just like Fox-CON did during the first Trump term when they pledged $Billions to build manufacturing sites in Wisconsin and never did, most companies lying to Trump and Lutnick's faces knowing these idiots will be gone before any of these supposed new factories (highly automated to boot) will ever come on line. So why waste the capital placating this dolt? All they need to do is sit back and weather it for a few quarters until the mid-terms come closer and the US is near total revolt.

These people are far more intellectually savvy than that moron Trump.

 

That's part of the idiocy of thinking these tariff revenues will help decrease the deficit. Any revenues gained by the tariffs will be more than offset by the reduced economic activity they cause.

 

Foxconn plays this game with governments all the time. Get the land for free (sometimes, even get paid for it), then do whatever you want with it, after making big promises as to what you are going to do for the benefit of the dear leader. It is an old playbook developed in places with authoritarian governments. A lot of US-based or dependent firms were worried about doing that in Trump's first term, because they were concerned that somebody might come after them for fraud. But, this time, many are playing the game.

 

Wow, Lutnick is Gish Galloping like crazy right now on CNN. He claimed that the UK doesn't accept US lobster. The reporter pulls out the fact that a deal was passed years ago with the UK to let in US lobster. Suddenly, it became about South Korea and McDonald's fries or something.

 

Which one is it? BTW, Kamala was absolutely the better choice last election if you weren’t making an emotional decision. Every single economist worth their salt backed her economic plan and warned about the disaster Trump’s would cause which is playing out in real time today.

 

Seems like the smart move would be to figure out which products we make that we would like to export more of, find out which countries have imposed tariffs or whatever to keep it from happening, then selectively target what that country is importing to us with a tariff as a negotiating tool to get them to allow more of our product to be sold there.
The blanket shotgun approach doesn't seem logical.

 

Everyone has their reasons for voting. Personally I care more about having a President who doesn't single handedly and unnecessarily annihilate our economy but other people are more concerned about male swimmers in female events. Who's to say which is really a more important issue?

 

When the Congress passes the Trump tax cuts bill... six months after that, come back.

 

This is especially stupid because we don’t “produce” Lobster, and apparantly the catch is declining due to climate change shifting some of the Lobster up toward the waters off our 51st state. Doesn’t sound like we can really afford to send the UK a bunch more lobster anyway, or at best it’s a *very* tiny special interest to be catering to, not a legit something to fight a damned trade war over.

 

Look at these greedy assholes. We’re consuming more of their stuff than they are consuming of our stuff. Tariff their asses!!

 

More debt?

I really want to eat crow on this. But his tarrif policy was my number one issue. He just doesn't know what he is doing. When you extrapolate to other items, he is just not competent.

 

Buy, buy, buy...

I know it seems bad right now, but the stock market will recover. Hang in there.