Tariffs Catch-All

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If tariffs are going to make us all rich then why does he keep delaying them and then toggling them on and off?

It's almost like Trump is just making shit up :unsure:
Come on man he just needs to run that racket 3 or 4 more times and then he’ll implement the tariffs for sure. His cronies need the money.
JC I have you marked down as tough on cronies and grifting. Pretty sure you won’t be working in this administration.
 
If tariffs are going to make us all rich then why does he keep delaying them and then toggling them on and off?

It's almost like Trump is just making shit up :unsure:
“Just making shit up.” I’d say that hits the nail on the head.
 
incidental and not backed by research, but local Halifax reddit has 2-3 posts a day I'd say asking for local recommendations for sightseeing after the poster cancelled their US trip instead to vacation within Canada. Multiply that by all places in Canada and the fact that most people do not post on reddit and I am guessing there is going to be some US tourism slump showing up in the indicators down the road.
 
incidental and not backed by research, but local Halifax reddit has 2-3 posts a day I'd say asking for local recommendations for sightseeing after the poster cancelled their US trip instead to vacation within Canada. Multiply that by all places in Canada and the fact that most people do not post on reddit and I am guessing there is going to be some US tourism slump showing up in the indicators down the road.
Old Orchard Beach in Maine (south of Portland) has been popular with Canadians for decades. It might be majority Canadian in July-September. It might suffer this summer.

Vermont ski resorts such as Jay Peak, Stowe, Mad River, and Sugarbush (the northernmost ones) haven’t seen much or any decrease in Canadians so far this season; but, they could have bought passes and packages before Trump’s nonsense officially started.
 
Ontario's premier, the leader of Canada’s most populous province, announced that effective Monday his province is charging 25% more for electricity to 1.5 million Americans in response to U.S. President Donald Trump's trade war.

Ontario provides electricity to Minnesota, New York and Michigan.
 
Nixon tariffs - overcame to the detriment of Carter administration
Reaganomics - recession. Overcame by Clinton administration
Bush II - housing bubble. Overcame by Obama administration.
Trump - mishandling of COVID. Overcame by Biden administration.
Trump II - tariffs and federal govt slashing. Yet again Dems will have to overcome Republican messes to the economy.
 
Link: https://www.wsj.com/opinion/donald-...739a?msockid=3e68779532796aac33d5621a33396b8f

I learned a new word today, thanks to the Wall Street Journal - "afflatus." Actual definition of afflatus: from the Greek for "to blow." It means in English, "a divine creative impulse or inspiration." In relation to St. Donald of Mar-a-Lago's on again/off again tariffs against Canada and Mexico, the WSJ wrote, "It’s doubtful Mr. Trump even has the power to impose these tariffs, and we hope his afflatus gets a legal challenge." When I read that, I, incorrectly, assumed the WSJ was attempting to get a playful dig in at St. Donald's pomposity by substituting "his afflatus" for " the POTUS" or "his eminence." I was wrong. But notwithstanding the actual definition, I still believe the better use of the phrase "his afflatus" is to compare the idiotic ramblings that seemingly spue in a random fashion from St. Donald's mouth to those issuing from a different orifice, probably in equal volume/frequency/offensiveness, by labeling them, "his afflatus."
 
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“… Over the past few weeks, Mr. Trump has threatened, imposed, suspended and resumed tariffs on America’s largest trade partners: Canada, Mexico and China. The dizzying shifts, including last-minute exemptions for some automakers and energy products, have unnerved investors.

… “The market volatility is much less about the bad news of tariffs and much more about the uncertainty of tariffs, especially uncertainty as to what the policy is, where it is headed, how long it will last and what the end result will be,” said David Bahnsen, the chief investment officer at the Bahnsen Group.

On Monday, retaliatory tariffs by China on U.S. agricultural products came into effect. On Wednesday, the Trump administration is set to put in place a 25 percent tariff on all U.S. steel and aluminum imports. Mr. Trump has also threatened to impose “reciprocal tariffs” on all U.S. imports to match other countries’ tariffs and trading policies next month.

The S&P 500 has now erased all the gains it made since Election Day. The Nasdaq has been hit even harder, as a rally in big tech stocks driven by enthusiasm for artificial intelligence reversed course. The index fell into a correction last week, and dropped a further 4 percent on Monday. …”

 
“… As he prepares to introduce new tariffs on foreign metals this week, President Trump has vowed not to grant the types of exclusions and exemptions that were common during his first trade war.

But he has already undercut that tough position on other tariffs. After lobbying from automakers, farmers and other industries, Mr. Trump quickly walked back the sweeping tariffs he had imposed on Tuesday on all imports from Canada and Mexico. By Thursday, he had suspended those tariffs indefinitely for all products that comply with the North American free trade deal, U.S.-Mexico-Canada Agreement, or U.S.M.C.A. — about half of all imports from Mexico and nearly 40 percent of those from Canada.

That has given industries and foreign governments an opening to lobby the administration ahead of the forthcoming metals tariffs, which go into effect at 12:01 a.m. Wednesday, as well as other levies planned for April 2.

… Foreign countries have offered to begin trade negotiations and devoted resources to Mr. Trump’s goals, like strengthening U.S. borders. And that is a power the president may be loath to give up.

This is what authoritarians do — manipulate public policy and control it with personal decisions and seemingly idiosyncratic decisions, often to get or push for political support in return,” said Rick McGahey, an economist at the New School. …”


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It is not clear that Trump has proper authority for a lot of what he is doing, but I guess we are all getting sucked out to sea in the Trump flood.
 
Kiss my ass! Mr. Way Too Old to Mousse Your Hair As Much As You Do!

You voted for this shit! Not once….at least 3 times.
Rand Paul is a total asshole and clown himself, imo. And we all know that when push comes to shove neither he nor any other Senate Republican is going to do shit to seriously stop or even slow down Trump 2.0 & Elon & DOGE. No sympathy for him at all, and his complaints at this point are worthless.
 
It seems pretty clear the goal here is to slow down the economy, create volatility and uncertainty in the market, and increase unemployment which would lead to lowered interest rates and a slowdown of inflation. Tariffs can off set some of the tax cuts which would then be passed on as cost to consumers, but consumers will have less capital so there will be downward pressure on commodity prices regardless of tariffs.

If you are very wealthy - this scenario gives you the opportunity to buy into lower valuations in the securities markets and real estate markets (the net result of a significant economic slowdown). You will have lower interest rates to borrow capital for your businesses and lower interest rates to leverage for further asset purchases. And you will have an easier time finding labor for your businesses.

It almost seems like this is the plan - the only argument against this being "the plan" is that it's hard to imagine Trump or anyone in his orbit having this amount of economic foresight and planning.

It seems pretty obvious this is a recipe for disaster for everyone who isn't incredibly wealthy.
I take this back. I am not sure there is anyone in the WH with enough foresight for planning.
 

I like Beshear, but good luck sir. The bourbon CEOs must be bothering him 24/7. The Ontario Liquor Commission is the second largest alcohol purchaser in the world according to some measures. I have read that 25% of bourbon sales originate from Canada.

Kentucky voters fucked around, now....
 
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