Tariffs Catch-All

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Let’s be real…if Jamie Dimon had the choice of keeping the tariffs or going immediately back to the trade agreements we had during the last administration, he would choose to get rid of the tariffs without a moment’s thought.
You have to read all of his comments not just the cherry-picked ones, and also remember that people who are too critical of Trump get punished (illegally, typically) by this administration. It’s good business for Dimon to try to put a shine on this economic turd.
 
CFordUNC said:
I asked ChatGPT which companies have already raised prices as a result of tariffs, or have announced plans to do so, and received the following:

"
Some companies that have either raised prices or announced plans to raise prices due to tariffs include:
  • Stanley Black & Decker: Expects a significant impact from tariffs and has already raised prices on tools, home, kitchen, and outdoor products, with further increases anticipated.
  • Conagra Brands: Has stated that tariffs will lead to increased costs.
  • Tesla: Management has indicated higher tariffs will raise costs.
  • Nestlé: Considering raising prices on certain products, including candy bars, due to tariff concerns.
  • Moncler: Already hiked apparel prices to offset tariff-related costs.
  • General Electric: Estimates proposed tariffs could cost the company around $500 million in 2025 and plans to offset these costs through pricing actions.
  • Johanna Foods:
    An orange juice importer, filed a lawsuit against proposed tariffs on Brazil, stating they would significantly hurt their business and force price increases of up to 25%.
  • Nike: Anticipates a substantial increase in tariff costs and plans to raise prices accordingly.
  • Shein and Temu: Noted increased operating expenses due to changes in trade rules and tariffs, leading to price adjustments.
  • Volkswagen: Stated it would impose an import fee on cars manufactured outside the U.S.
  • Target: CEO Brian Cornell warned that tariffs on Mexico and Canada would likely result in some price increases, particularly on produce.
  • Columbia Sportswear: CEO Tim Boyle indicated the company was "set to raise prices."
  • Procter & Gamble (P&G): Planning price increases on approximately a quarter of its U.S. products, in the mid-single digits, to offset tariff costs.
  • Walmart: Warned of price increases across a wide range of goods, including food, toys, and electronics, due to tariffs driving up import costs. CNBC observed price increases on several items in a Walmart store, although it's difficult to definitively attribute all increases solely to tariffs.
  • Subaru: Raised prices on most of its vehicles, citing "current market conditions" without explicitly mentioning tariffs.
  • Toyota: Planned to raise prices on some Toyota and Lexus models.
  • Mitsubishi Motors: Raised prices in mid-June.
  • Newell Brands (Graco, Yankee Candle, Rubbermaid): Raised prices on baby gear and has been impacted by tariffs.
  • Levi Strauss: Absorbing some tariff costs but anticipates an impact on its business for the rest of the year.
  • Walmart and Mattel: These are among brands facing tariff-driven price increases.
  • UPPAbaby: Adjusted prices across most products.
  • Loftie: Raised the price of its lamp due to tariffs.
  • SharkNinja: Raised prices on several products and plans to continue doing so.
  • Birkenstock: Plans to raise prices globally to offset tariffs before September.
  • Kosterina: This olive oil brand is expected to see price increases due to tariffs.
  • Best Buy: Warned that vendors would likely pass along tariff costs to retailers, leading to price increases for consumers.
  • Nintendo: Delayed pre-orders for the Switch 2 due to tariff concerns. While the console's price is expected to remain the same, accessories will likely see price adjustments.
  • Sony (PlayStation): CFO hinted at potentially passing on tariff costs through price increases.
  • Wholesale distributors: Expect significant price increases due to tariffs.
  • Companies across various sectors (consumer, luxury, automotive): Many are confronting pricing dilemmas due to tariffs, with some implementing increases and others navigating the impact. "
Click to expand...
So basically just about everything and anything people buy.
 

Trump’s ‘Slap in the Face’ Puts Neutral Switzerland in Trade-War Crossfire​

Swiss business leaders and politicians are scrambling to understand why their close relationship with Washington has suddenly fractured​



🎁 —>

“…In a land famed for its neutrality and order, the Swiss reacted with shock and confusion to Trump’s decision to impose a 39% tariff—higher than all but three nations on last week’s executive order: Laos, Myanmar and Syria. Switzerland is one of the few nations whose Aug. 1 tariff rate was higher than Trump’s “Liberation Day” threats in April.

… “Switzerland is not a threat to U.S. national security,” said Jan Atteslander, member of the executive board at Swiss business organization Economiesuisse. “Our chocolate and watches don’t endanger U.S. manufacturing.”

… Switzerland earns its every second franc from foreign trade and around 19% of its exports go to the U.S., its largest market, according to UBS. The relationship is a two-way street, however: Switzerland is the sixth-largest foreign investor in the U.S., according to Economiesuisse, with major companies such as Nestlé, Roche and Novartisand others supporting some 400,000 American jobs.

…
But the key issue for Trump is that the nine million-strong nation has one of the largest trade imbalances with the U.S.

The deficit in goods has skyrocketed this year due to a surge in pharmaceutical and gold imports looking to get to the U.S. ahead of anticipated tariffs. The deficit was nearly $50 billion this year through May, ranking as the fifth-largest goods-trade imbalance among U.S. trading partners.

In June, the U.S. Treasury Department added Switzerland to its watchlist for unfair economic and currency practices. During Trump’s first term, it labeled Switzerland a currency manipulator, accusing it of weakening the franc to aid exports. The central bank has said it intervenes in currency markets to stabilize inflation, not for trade advantage.…”
 
nycfan said:
IMG_8542.jpeg

www.nytimes.com

Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit.

The tariffs are a substantial new source of revenue for the federal government. The budget may start to depend on it.
www.nytimes.com www.nytimes.com

IMG_8543.jpeg
Click to expand...
“… Mr. Tedeschi said that future leaders in Washington, whether Republican or Democrat, may be hesitant to roll back the tariffs if that would mean a further addition to the federal debt load, which is already raising alarms on Wall Street. And replacing the tariff revenue with another type of tax increase would require Congress to act, while the tariffs would be a legacy decision made by a previous president.

“Congress may not be excited about taking such a politically risky vote when they didn’t have to vote on tariffs in the first place,” Mr. Tedeschi said..…”
 
nycfan said:
IMG_8542.jpeg

www.nytimes.com

Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit.

The tariffs are a substantial new source of revenue for the federal government. The budget may start to depend on it.
www.nytimes.com www.nytimes.com

IMG_8543.jpeg
Click to expand...
nycfan said:
IMG_8542.jpeg

www.nytimes.com

Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit.

The tariffs are a substantial new source of revenue for the federal government. The budget may start to depend on it.
www.nytimes.com www.nytimes.com

IMG_8543.jpeg
Click to expand...


So the backdoor national consumer tax is really taking off !

But the good news is the BBB is cutting income taxes for the corporations and those making over 400k so it won't be long before grocery prices are decreasing bigly and inflation is eliminated so it all balances out...amirite ?
 
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