Trump Does his Awesome New Tariffs. Winning!!

this otoh this is a famous ex. at least among free mkt folk.

 

trump probably thinks, no, he knows, Max is a porn star..

 

There's stupid. Then there's this.

 

Trump did say multiple times that tariffs mean that other countries will pay the tariffs, not Americans. It must have sounded like free money to him. Clearly, he was wrong because the (American) importer pays the tariffs, and then decides how much of the tariff to pass forward to the (American) consumer.

The short-term consequence of tariffs is chaos. Supply chains gets disrupted, costs increase, etc. If that sounds familiar, it's because the consequences are similar to large-scale nearly-random firings of government workers: chaos ensues, services are disrupted, and Americans lose money. The American economy did not rise up to being #1 in the world because America's leaders encouraged chaos and higher costs in the economy. That is something that only the idiot dictators have historically done, and they were not thrown out because the people who would have thrown them out would have been killed had they tried. Chairman Mao had some crazy ideas about agriculture and he destroyed virtually all of China's farmland in less than five years forcing farmers to follow his plan. The Chinese people were literally starving to death when the U.S. provided them with the first of 13 fertilizer plants that saved hundreds of millions of Chinese people's lives. Yes, that actually happened.

At some point, Trump supporters need to wise up and realize the common themes to Trump's incompetent initiatives. He really does not know what he's doing. He's a failed businessman pretending to be a president . . . and failing. This is what happens when a president is arrogant enough to believe he knows more than anybody else, when in fact, he knows almost nothing.

 

Dt comment re: recession wiping billions off digital currencies. Hope he didn’t fill the reserve bank already

Bitcoin, Ethereum And Dogecoin Crash As Trump Refuses To Rule Out Recession: Arthur Hayes Predicts BTC To Retest $78,000

 

So some tariffs ok. But too many and it’s dumb?

 

100% Bessent understands the long term economics of tariffs. I suspect Trump understands them as well.

This is what I think is happening:

His communication about tariffs is a lie to hide the truth from everyday Americans.

Trump has his finger on the economic “nuclear” button. He is signaling to the world: mutual destruction of economies.

Trump seams to have the perspective that the US will emerge stronger and faster than everyone else.

He is looking for hegemony over China. He is effectively telling the world, he is going economic “nuclear” if they don’t capitulate. If the US crashes, the rest of the world will crash harder. This is why China is preparing and will take Taiwan, with the US taking Canada, Panama, and Greenland. Russia will take back Eastern Europe. The EU is preparing as well for aggression.

For reasons mentioned in this thread by others, supply chains for guns and butter are strong. His importation talent play appears to be his hedge to suck talent out of the world. How many take his gold card will be telling.

Don’t believe me. Believe JP Morgan.

Tariff Delays: Uncovering the Most Impacted Sectors | J.P. Morgan

 

Some industries welcome the tariffs

Who Likes Tariffs? Some U.S. Industries Are Eager for Them.

 

Good article. Definitely makes Biden admin’s blocking of Nippon / US Steel deal fit Trump’s plan. Steel tarrifs are anti-dumping against China and Japan. The IRA has domestic content requirements for the tax credits. Will be interesting to impacts permeate.

 

The farmers had it coming …

 

Here’s a very nice summary of tariffs—what they do, why they exist, and a history of tariffs in the US, from yesterday’s Sun-Sentinel (page 4 of Nation and World section). It’s a 1 page summary, and it’s easy-to-read and digest (albeit a bit sloppy, too, like claiming it is a history of tariffs in the US from the 17th Century).

Sun Sentinel - Broward

 

someone has that plan, doubt it is trump

he isn't that smart

maybe koch or whoever is funding 2025

 

Not really an intelligence issue. It’s risk tolerance, and how far is he willing to go in a global game of chicken. I don’t understand the funding for Trump right now. Charles Koch is not welcomed. Elon appears to be lighting his fortunes on fire.

 

UAW chief a big MAGA fan. Finally coming out with it

amazing after Biden stepped in to save their sorry arse and the current deal is one that dt called the best deal for america ever

UAW leader touts Trump's Canada, Mexico tariffs as effort to 'stop the bleeding' of US jobs

UAW President Shawn Fain appeared on ABC News' "This Week" and defended the controversial tariffs, which have prompted retaliation by Canada and Mexico against U.S. exports and sparked fears of a broadening trade war.

"We are in a crisis mode in this country," Fain said. He added that the international trade system is "broken" and that the U.S. is in a "triage situation" while explaining that tariffs "aren't the end solution" but are "a huge factor in fixing this problem."

"Tariffs are an attempt to stop the bleeding from the hemorrhaging of jobs in America for the last 33 years," Fain said as he sought to blame the North American Free Trade Act (NAFTA) for causing "millions of jobs" to leave the U.S. NAFTA was replaced by the U.S.-Mexico-Canada Agreement (USMCA), which Trump negotiated in 2019.

 

Have to wonder if Trump will propose billions of dollars in subsidies for farmers who have lost foreign markets as the result of retaliatory tariffs like he did during his first term.
2018
Trump Administration Plans $12 Billion In Farm Aid To Offset Tariffs
2019
Trump Gives Farmers $16 Billion in Aid Amid Prolonged China Trade War (Published 2019)

 

typical union (tariff) logic....protect, protect, protect until the domestic industry is killed altogether. yay!

 

Maga world laughably celebrating unions on their side.

 

Tariffs need to have a purpose: generally they are done to either punish a dangerous nation threatening war with your country, or to protect segments of your economy from being put out of business by product dumping or other unfair business practices. China qualifies on both of those counts. Mexico and Canada qualify on neither of those issues. The purpose of the tariff is NOT to help your economy (other than an industry that needs protection from dumping). Tariffs in general HURT a functioning economy--they do not help it. You ENDURE tariffs in the pursuit of justice and peace, not profits.

 

Surprised (and maybe I shouldn't be) that he doesn't realize the cars manufactured in the US use imported steel and aluminum. The tariffs will increase the price of cars manufactured in the US resulting in higher prices, lower demand and the loss of American jobs.

 

doubling down on stupid..Montreal should cut off the power..

we have a bully of a potus that loves nothing more than a good fight when he is fighting with someone else's money. the world isn't going to appease him and either an adult is going to step in or he is going to cause economic meltdown across the globe which leads to civil unrest.

wait until maga realizes how much this makes those beer cans cost

Trump says he’ll raise tariffs on Canadian steel and aluminum to 50%

President Donald Trump said Tuesday that he had ordered a doubling of the tariff on Canadian steel and aluminum in response to Ontario Premier Doug Ford’s imposition of a new tax on electricity supplied to three U.S. states.Ford’s action was itself a response to Trump’s earlier announcement of tariffs on foreign steel and aluminum, which is scheduled to take effect at 12:01 a.m. Wednesday.

“Based on Ontario, Canada, placing a 25% Tariff on ‘Electricity’ coming into the United States, I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD. This will go into effect TOMORROW MORNING, March 12th,” the president posted on his social media site, Truth Social.

Despite Trump’s claim, Canada’s average tariff rate of 3.8 percent is little different from the United States’ 3.3 percent mark, according to a World Trade Organization database.

Trump also said without providing details that he would soon declare a “National Emergency on Electricity within the threatened area,” an apparent reference to portions of Minnesota, Michigan and New York, which depend upon Ontario for some electricity supplies. He issued a separate demand for Canada to drop its existing tariffs on imports from the United States of agricultural products, and repeated his insistence that Canada “become our cherished Fifty First State.”