Tariffs Catch-All

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nycfan said:
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Alicia Silverstone Cherilyn Horowitz GIF by filmeditor
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To be clear, I find it easy to believe that China is reneging on trade agreements. I actually would be surprised if they didn’t slow-walk and otherwise do everything they could to limit compliance with a trade agreement so long as they maintain some plausible (by CCP standards) deniability.

I am just not sure I believe that is the reason Trump had an about face on China trade this morning.

It’s tough to know what to believe when both parties lie as they breathe.
 
Bessent and Trump seem to be in lockstep here. Present scary, bad news, impact stock market, set up next Taco Trade. Ca-ching $$$.

Seems to be a recurring theme, wash, rinse, repeat.
 
Kraftyheel89 said:
Bessent and Trump seem to be in lockstep here. Present scary, bad news, impact stock market, set up next Taco Trade. Ca-ching $$$.

Seems to be a recurring theme, wash, rinse, repeat.
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Except it is getting less and less profitable. Markets are barely moving after these announcements.

I am a bit concerned that the TACO thing is hurting Trump's fragile ego and he'll do whatever he can to invalidate that moniker. He would put his ego above our country.

He also is a true believer in tariffs. He probably blames his advisors for the TACO thing.
 
Yes you are correct. The market seems to shrug off any tariff threats or tantrums by Trump, and yet, when he does the TACO, the market spikes multiple percentage points higher. It happened after the flip flop last weekend. So still same effect, without the dips however. Seems to be the way they are keeping markets propped up.
 
Kraftyheel89 said:
Yes you are correct. The market seems to shrug off any tariff threats or tantrums by Trump, and yet, when he does the TACO, the market spikes multiple percentage points higher. It happened after the flip flop last weekend. So still same effect, without the dips however. Seems to be the way they are keeping markets propped up.
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Yup. I've noticed that as well.
 
Seeing the Supreme Court stay the ruling re: mass deportations, I'm even more confident that the court will stay the ruling on tariffs. Thus, the tariffs will be back with a slight hiccup.

As I predicted, the Supreme Court is staying everything that might touch on limits to executive power (save the violation of habeus corpus). That's their way of giving Trump carte blanche having to do so expressly. In other words, they let Trump do what he wants, without creating precedent for a Dem to do the same. It's corrupt as hell.

When we get power back, several of the justices need to be put in Gitmo as enemy combatants, forever. At a minimum, the ones who have so lavishly profited from their positions by outsiders.
 
Kraftyheel89 said:
Yes you are correct. The market seems to shrug off any tariff threats or tantrums by Trump, and yet, when he does the TACO, the market spikes multiple percentage points higher. It happened after the flip flop last weekend. So still same effect, without the dips however. Seems to be the way they are keeping markets propped up.
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I haven't followed all the TACO flip flopping, but does it seem to be a regularly planned Friday thing, so everyone (press....) pretty much forgets about the market manipulation by the time the markets open back up on Monday morning?
 
China has significant leverage over the US in it being the key sourrce and processor of rare earth elements (needed for semis, EVs, and defense such as F35). One of many mistakes Trump has made in his tariff war is that by so overdoing it, he has now coupled semiconductors and rare earth elements. Biden Admin put export controls on semis but did in a way that China kept supplying REE. Now US is in a bind with REE over Trump's poorly caluclated actions. US will need ot cave on semis in order to get the REE train rolling again. REE was the reason IMO for Trump's China tirade today--US needs REE desperately
 
superrific said:
And specifically, it reflected the Social Security Fairness Act signed by Biden on January 5.
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I’m also curious what’s underlying:
“Wages and salaries in services-producing industries increased $53.1 billion. Wages and salaries in goods‑producing industries decreased $3.1 billion.”

My understanding, that is not maga compliant.
 
Healing said:
I’m also curious what’s underlying:
“Wages and salaries in services-producing industries increased $53.1 billion. Wages and salaries in goods‑producing industries decreased $3.1 billion.”

My understanding, that is not maga compliant.
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I read somewhere that the cause of the services-producing gain was the huge market volatility in April, which caused a lot of profits for the financial industry. That's also why the PCE numbers looked benign today -- that basically there was a big influx of low-margin, low-cost financial services (i.e. sell, sell, sell!) and thus it looked as though the price was falling.

I don't know if this is true. I don't have enough visibility into the details to intuit the right answer and I haven't looked at it more today.
 
Trump outdid himself today with his stupidity. Why would we raise steel tariffs? It's because his other tariffs were struck down, so now he needs new ones to replace them even though they serve no common function and are not replacements for each other.

So great, 50% tariffs on steel until he backs down. I'm sure the steelworkers in PA loved that. Now do the auto workers in Detroit who will not be able to export any cars.
 

Trump Raises Steel Tariffs, Saying U.S. Steel Will Remain U.S.-Controlled​

Trump assures investors, steelworkers and political leaders that U.S. Steel will see billions in expanded investments in deal with Nippon Steel​


🎁 —> https://www.wsj.com/business/deals/...b5?st=yN72fc&reflink=mobilewebshare_permalink

“President Trump said he would double tariffs on imported steel, a move he said would bolster the domestic industry and protect U.S. jobs.

Trump announced the higher duties at a rally near Pittsburgh promoting a $14 billion deal between Tokyo-based Nippon Steel and U.S. Steel, which the president said would ensure U.S. control over the storied steelmaker….”
 
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