ChileG
Iconic Member
- Messages
- 1,506
Liberating us from our disposable income and retirement savings.
Tariffs Catch-All
- Thread starter BubbaOtis
- Start date
- Replies: 3K
- Views: 47K
- Politics
- Messages
- 2,341
Trump announces new auto tariffs; what it means for Michigan | Bridge Michigan
President Donald Trump announced 25% tariffs targeting the auto industry Wednesday, the latest in a series of trade escalations that could have an outsize impact on Michigan’s economy.
“This means jobs lost and increased pressure on the balance sheets of companies large and small,” Stevens said as companies brace for sales and production changes.
Michigan automakers and suppliers were not surprised by Trump’s move, since he had previously signaled the plan, said Stevens, of MichAuto.
The move is likely to cause economic upheaval across the industry, Stevens said, as shifting demand ripples through the supply chain. Consumers, meanwhile, are likely to face higher prices and fewer choices in the marketplace.
...
Meanwhile, Stevens said, companies that export vehicles to the U.S. will need to make decisions on whether existing facilities in the US have capacity for new models or can be expanded.
“This is by no means a quick process,” he said, “as safety, quality, and process requirements are stringent to build the most complex consumer product in the world.”
While Trump expressed expectations that new assembly plants will result from his tariff move, Stevens said any decision to build will result in a multi-year process for automakers.
New construction “will require very strategic market decisions … capital, the economic development selection process, and the availability of an hourly and skilled trade workforce,” Stevens said.
“These are complex decisions that will take time, long past when the tariffs' impact will be felt within the industry.”
milom98
Distinguished Member
- Messages
- 265
You could start practically ever conversation about Trump with "I don't believe he knows."
Was trying to find out when the actual announcement would be made and came across this on CNN:
“Among the plans being considered were customizing tariff rates for each US trading partner, levying tariffs on certain countries but not others or imposing a flat rate as high as 20% on all imports. One White House official told CNN that they didn’t believe Trump would arrive at a decision until the hours before Wednesday’s 4 pm ET announcement ceremony at the Rose Garden.
What Trump ultimately decides to announce on tariffs will be “effective immediately,” White House press secretary Karoline Leavitt said Tuesday. That is logistically dubious, but if that is the case, other nations would have little time to negotiate and could respond by immediately imposing countermeasures such as retaliatory tariffs.”
amp.cnn.com
Literally governing by vibes and whims.
“Among the plans being considered were customizing tariff rates for each US trading partner, levying tariffs on certain countries but not others or imposing a flat rate as high as 20% on all imports. One White House official told CNN that they didn’t believe Trump would arrive at a decision until the hours before Wednesday’s 4 pm ET announcement ceremony at the Rose Garden.
What Trump ultimately decides to announce on tariffs will be “effective immediately,” White House press secretary Karoline Leavitt said Tuesday. That is logistically dubious, but if that is the case, other nations would have little time to negotiate and could respond by immediately imposing countermeasures such as retaliatory tariffs.”
It’s liberation day in America and tariffs are about to be announced. Here’s what to expect | CNN Business
President Donald Trump’s “Liberation Day” is here.
Literally governing by vibes and whims.
- Messages
- 2,468
Was trying to find out when the actual announcement would be made and came across this on CNN:
“Among the plans being considered were customizing tariff rates for each US trading partner, levying tariffs on certain countries but not others or imposing a flat rate as high as 20% on all imports. One White House official told CNN that they didn’t believe Trump would arrive at a decision until the hours before Wednesday’s 4 pm ET announcement ceremony at the Rose Garden.
What Trump ultimately decides to announce on tariffs will be “effective immediately,” White House press secretary Karoline Leavitt said Tuesday. That is logistically dubious, but if that is the case, other nations would have little time to negotiate and could respond by immediately imposing countermeasures such as retaliatory tariffs.”
It’s liberation day in America and tariffs are about to be announced. Here’s what to expect | CNN Business
President Donald Trump’s “Liberation Day” is here.
Literally governing by vibes and whims.
That sounds like a solid, thoughtful approach.
- Messages
- 656
Yes his big celebration and unveiling of his plan to liberate America from our economic plight on the world stage is scheduled for 4pm.
4pm is quite intetesting, as that is the exact time that our stock markets close. Now, not much will change by Thursday market open at 9:30, but that gives the spin machine time to convince everyone how great things will soon be. Plus March payrolls (jobs) expanded at a rate higher than expected, so diversion and deflection will also happen, but not enough to spoil the most important day in our history.
4pm is quite intetesting, as that is the exact time that our stock markets close. Now, not much will change by Thursday market open at 9:30, but that gives the spin machine time to convince everyone how great things will soon be. Plus March payrolls (jobs) expanded at a rate higher than expected, so diversion and deflection will also happen, but not enough to spoil the most important day in our history.
Last edited:
CFordUNC
Inconceivable Member
- Messages
- 4,511
I reckon my TDS is flaring up again because I fucking hate this dude for playing Russian roulette with the world’s most prosperous economy. It’s been fun watching my hard work, discipline, and diligence in saving, investing, paying down debts, etc. actually pay off in a rewarding way. Guess it was fun while it lasted. Thanks a ton, Trumper fuckwads!
- Messages
- 656
You are not the only one with TDS. Trump claims that Pub Senators McCoonnell, Murkowski, Collins and Paul have TDS, as they push back against Canadian Tariffs.
It does say in the Trump Bible (the only one he endorses), "Thou shall not oppose the Orangeturd Messiah King, for thou shall face primaried exclusion from the Cult."
It does say in the Trump Bible (the only one he endorses), "Thou shall not oppose the Orangeturd Messiah King, for thou shall face primaried exclusion from the Cult."
- Messages
- 656
The new announced tariff plan unveiled later this "Liberation Day" has officially been dubbed the "Make America Wealthy Again" program.
superrific
Legend of ZZL
- Messages
- 6,994
This actually says a lot about how Trump understands freedom.
superrific
Legend of ZZL
- Messages
- 6,994
So it's full reciprocal for everyone?
The stupidest choice imaginable so of course Trump goes with it.
The stupidest choice imaginable so of course Trump goes with it.
superrific
Legend of ZZL
- Messages
- 6,994
1. Not the smart ones
2. The ones who are still auto workers in a year or two might. Layoffs will be coming.
superrific
Legend of ZZL
- Messages
- 6,994
It took the Roman Empire 3 centuries for its economy to go bust.
It took Trump three months.
It took Trump three months.
You would think the average American would figure out that Trump is like a used car salesperson. He will tell you anything to make the sale.
- Messages
- 2,341
This is one of America’s most shocking economic defeats in 40 years
Donald Trump’s intimidation tactics risk leaving Americans poorer and more isolated
www.telegraph.co.uk
Donald Trump has achieved his first global peace deal. China, Japan and South Korea have kissed and made up after years of trade quarrels. They have pledged to deepen ties and reorganise the Asian and global trading systems under what amounts to Chinese leadership.
The picture blazoned across Asia’s front pages – though barely registering in the US – showed the trade ministers of the three economic powers holding hands in a collective gesture of Asian defiance.
It is one of the most striking economic defeats suffered by America that I have witnessed in more than 40 years covering international affairs. Trump’s “liberation day” cuts two ways.
They agreed to forge ahead with free trade agreements but also to flesh out the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade pact on paper and a venture viewed by US hardliners as a Trojan horse for Chinese commercial hegemony.
“For all intents and purposes, the US is now a rogue nation when it comes to trade,” said Michael Gasiorek, the director of the UK Trade Policy Observatory at the University of Sussex.
“I don’t think there is a global trade war going on. The US is fighting a trade war with everybody but the others are keen to co-operate even more.”
...
This was unthinkable just weeks ago, when the Commission’s mantra was “derisking” the supply chain, and the two sides were daggers drawn over EU tariffs on electric vehicles.
China is still smarting over the EU’s sweeping investigations into Chinese technology theft and predatory investments. The EU is still smarting over the tsunami of Chinese exports flooding its market, which has pushed China’s structural trade surplus with Europe above €300bn (£250bn).
But they both have a bigger wolf to contend with today.
He Lifeng, China’s vice-premier, said the two economic blocs should team up to defend themselves against Trump’s assault on the global trading order.
“China is willing to work with the EU to handle economic differences in the proper manner,” he said.