Trump still hasn't figured out tariffs are a tax on consumers — Announces blanket tariffs on Mexico, Canada and China

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ChileG said:
I’m pretty sure the reason for the tariffs is because Trump knows he has to do something dramatic.
He can’t claim he fixed everything and the economy is great because of him if he doesn’t do anything.
He’ll create some unhelpful tariffs (and tax cuts) like he did with the soybeans that will hurt Americans, but it will give his acolytes something to point to as the reason their lives are better, as we slink into the next recession (that is most likely coming regardless of what Trump does)
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Trump came into office with a good economy handed to him on a silver platter by Obama. Within a month Trump was claiming his economy was the greatest economy in the history of all mankind.

Biden will hand a good economy over to Trump when he takes office in January. I expect that in February he will proclaim we have returned to the greatest economy in the history of all mankind.

and the media and unthinking Americans will jump up and down and sing the Doxology:(
 
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superrific said:
I'm not sure recessions exist any more, outside of exogenous shocks like financial crises, pandemics or . . . tariffs.

Like, if Trump does nothing, the economy will probably do just fine. But he wants to fuck it all up. I know it sucks and I don't like to wish hardship on anyone, but we also need MAGA to go down in flames. The tariffs will hopefully do that.

I don't think it's going to be such a light touch this time. China is already preparing "supply chain warfare." Just read an article about it. They aren't going to retaliate with tariffs. They are going to retaliate by withholding from us the things we need to make the products we sell.
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I googled “supply chain warfare” and read the NYTimes article. Thanks for bringing this to our attention.
 
Tarrifs are going to stal
superrific said:
I'm not sure recessions exist any more, outside of exogenous shocks like financial crises, pandemics or . . . tariffs.

Like, if Trump does nothing, the economy will probably do just fine. But he wants to fuck it all up. I know it sucks and I don't like to wish hardship on anyone, but we also need MAGA to go down in flames. The tariffs will hopefully do that.

I don't think it's going to be such a light touch this time. China is already preparing "supply chain warfare." Just read an article about it. They aren't going to retaliate with tariffs. They are going to retaliate by withholding from us the things we need to make the products we sell.
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There are long term ramifications to tariffs and trade warfare. The USA has benefited from 50 years of mostly open trade with the world...especially Europe, Canada, and China (since the mid 1990s). We've built the most significant economic empire in the history of the world on the backs of world trade and it could be argued that our dominance as a global power hinges secondarily (behind only our military might) on our ability to "sell" our cultural and economical largess to the world and buy that back from the world at a discounted rate. All of that is at risk by Trump's threats of 20-30% tariffs on all imported product.

I do agree though - tariffs, mass deportations, the inflation and possible commodity shortages that these policies could entail are the least of our concern if we have a Pete Hegseth as the head of DoD "facing off" with Russian Defense minister Sergei Shoigu trying to avert a real nuclear confrontation that could kill billions of people...or if we have RFK Jr. making it nearly impossible for people to get vaccines and causing a mass outbreak of polio or measles...or if we have Pam Bondi requesting arrest warrants for Wendy McMahon head of CBS News or fmr Congressman Adam Kinzinger...or if Trump fires all the Generals and uses his new obsequious military brass to maintain power post 2028.

Tariffs are temporary measures that can be rescinded with a new administration and while there may be long term damage - that damage can be repaired...a world war? death? the fall of our constitution? These are greater concerns.
 
p5mmr9 said:
Tarrifs are going to stal

There are long term ramifications to tariffs and trade warfare. The USA has benefited from 50 years of mostly open trade with the world...especially Europe, Canada, and China (since the mid 1990s). We've built the most significant economic empire in the history of the world on the backs of world trade and it could be argued that our dominance as a global power hinges secondarily (behind only our military might) on our ability to "sell" our cultural and economical largess to the world and buy that back from the world at a discounted rate. All of that is at risk by Trump's threats of 20-30% tariffs on all imported product.

I do agree though - tariffs, mass deportations, the inflation and possible commodity shortages that these policies could entail are the least of our concern if we have a Pete Hegseth as the head of DoD "facing off" with Russian Defense minister Sergei Shoigu trying to avert a real nuclear confrontation that could kill billions of people...or if we have RFK Jr. making it nearly impossible for people to get vaccines and causing a mass outbreak of polio or measles...or if we have Pam Bondi requesting arrest warrants for Wendy McMahon head of CBS News or fmr Congressman Adam Kinzinger...or if Trump fires all the Generals and uses his new obsequious military brass to maintain power post 2028.

Tariffs are temporary measures that can be rescinded with a new administration and while there may be long term damage - that damage can be repaired...a world war? death? the fall of our constitution? These are greater concerns.
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I'm not sure the damage caused by blanket tariffs can be repaired. I think it's more likely that the global economy just adjusts. Not necessarily in good ways.
 


“… The fear is that a flood of Chinese exports would be pushed to Europe by an insurmountable U.S. tariff wall. …

Europe’s concerns are justified … up to a point. EU countries would indeed feel the heat of a trade war with China, which would depress trade and growth at a time when Germany, its largest and most export-driven economy, is expected to suffer its second year of negative growth.

Yet, according to the Kiel Institute for the World Economy, Europe would actually be hit less hard than other regions. Gross domestic product would fall by 0.14 percent in the first year of a Trump trade war, and by 0.2 percent in the longer term, the think tank estimates — far less than the decline that the two main antagonists would suffer.
 
The defense against this stupidity is, “Trump isn’t actually going to do it.”
But when campaigning, whenever asked how he would fund his various promises (like his hilarious answer about his plan for childcare), he would claim the tariffs would pay for everything.
Now, maybe Trump was just lying about his plans, which wouldn’t come as a surprise to anyone, even his supporters.
But I think it is more likely he just doesn’t know what he is doing, and his acolytes will sane wash whatever happens.
 
ChileG said:
The defense against this stupidity is, “Trump isn’t actually going to do it.”
But when campaigning, whenever asked how he would fund his various promises (like his hilarious answer about his plan for childcare), he would claim the tariffs would pay for everything.
Now, maybe Trump was just lying about his plans, which wouldn’t come as a surprise to anyone, even his supporters.
But I think it is more likely he just doesn’t know what he is doing, and his acolytes will sane wash whatever happens.
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It shouldn't surprise me anymore, but it does continue to amaze me that one of the main defenses of many Trump voters or apologists is: he won't actually do what he says he's going to do. The lack of critical thinking involved regarding that statement is mind-boggling. "I love it when he talks (tweets) tough, but I do know it would be really bad if he did all the shit he claims he will, but I don't worry about it because I know he's too smart to actually do it." It's like they view politics as professional wrestling. Um, yeah, whatever helps you sleep at night.
 
Mulberry Heel said:
It shouldn't surprise me anymore, but it does continue to amaze me that one of the main defenses of many Trump voters or apologists is: he won't actually do what he says he's going to do. The lack of critical thinking involved regarding that statement is mind-boggling. "I love it when he talks (tweets) tough, but I do know it would be really bad if he did all the shit he claims he will, but I don't worry about it because I know he's too smart to actually do it." It's like they view politics as professional wrestling. Um, yeah, whatever helps you sleep at night.
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What baffles me about people like that - If Trump "won't actually do what he says he's going to do" - Then wtf are you voting for?
 
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