Trump still hasn't figured out tariffs are a tax on consumers | Trump announces “External Revenue Service”
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“Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.
Trump has shown a willingness to move swiftly on tariffs in recent days without allowing for drawn-out talks. On Sunday, Trump announced he would impose 25% “emergency” tariffs on Colombia because of its refusal to accept repatriation flightsfrom the U.S. A senior administration official said the decision proves that Trump views tariffs as an “effective negotiating tool” and “effective punishment” for nations that don’t hew to his agenda. …”
Damn……I bought hundreds……thousands of flowers from Manhattan bodegas in ‘90’s.If you and your significant other celebrate Valentine’s Day, you may want to plan ahead about the flower sitch this year.
Me: “I’m late from work. FLOWERS!”
superrific
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But there's going to be a difference. It's the US versus the world. The US is surely going to lose.
superrific
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What's going to happen at the end of this is a permanent change in the world's reserve currency. I would also expect some countries explore the idea of prohibiting the use of dollars as collateral (except possibly for dollar->dollar deals). You have to prohibit it or there's a first mover problem, but I gotta think everyone would feel much better if there were a trillion euros worth of repos worldwide as opposed to a trillion dollars.
They should.
Taiwan is fucked.
Maybe South Korea, Japan, Australia, Indonesia, and Philippines can create an Asian NATO. They need India. As long as India has its own Trump, India is fucked. Which means most of Asia is fucked.
lawtig02
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Isn’t that what the crypto bros, who now litter Trump’s administration and camp out at MAL, are counting on?
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Well, they did their old men yelling and sorted it out without a trade war, so red alert rescinded for Valentines flowers. For now.If you and your significant other celebrate Valentine’s Day, you may want to plan ahead about the flower sitch this year.
rodoheel
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Yes, they want Bitcoin to replace the dollar as the world's reserve currency. Something that will help usher in a world tech oligarchy the likes of which we've never seen. With what I suspect will be disastrous consequences, but they think it will mean utopia, so who knows.
BlooVooDoo
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Non-proliferation will die under Trump. All of the countries you mentioned should strongly consider starting a nuclear weapons program ASAP.
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Hell, North Korea could make a fortune selling theirs at this point.
CRHeel94
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When the euros decide to break away and take care of their own defense, they will have to beef up their defense industries.
WaynetheDrain
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Can we put her on one of the flights back?
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Trump Vows ‘Near Future’ Tariffs, Calls DeepSeek Progress ‘Good’
“… “In the very near future we’re going to be placing tariffs on foreign production of computer chips, semiconductors and pharmaceuticals to return production of these essential goods to the United States of America,” Trump said Monday as he spoke to a gathering of House Republicans at his Doral resort in Miami.
Trump added that he would “also be placing tariffs on steel, aluminum and copper.”
The comments offered one of the most detailed looks at a tariff regime that Trump has been crafting since taking office. The president has previously pledged to impose a flat tariff on Canada, Mexico, and China by the end of the week.
Trump’s threat of semiconductor tariffs also comes hours after investor concern about Chinese artificial-intelligence startup DeepSeek rattled markets and erased billions from Nvidia Corp.’s market capitalization. Trump has argued that tariffs will help keep and build US manufacturing of the advanced chips compared to a subsidy program championed by former President Joe Biden.
… Trump said he had been reading about the company and saw their apparent breakthrough as “good, because you don’t have to spend as much money.”
“I view that as a positive, as an asset,” Trump said.
“The release of DeepSeek AI from a Chinese company should be a wake-up call for our industries that we need to be laser-focused on competing to win,” Trump continued. “Because we have the greatest scientists in the world, even Chinese leadership told me that. They said you have the most brilliant scientists in the world.” …”
——
Weird how much his administration is targeting scientists right out of the gate for a guy proud to claim having the best scientists in the world.
Anyway, a very strange time to announce tariffs on microchips given the market reaction to DeepSeek today. Is he trying to drive down tech stocks further? Because his tariffs will drive up the price of pretty much everything with a chip in it.
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Donald Trump pledges sweeping tariffs on steel, semiconductors and other imports
President Trump said in the \
www.usatoday.com
Trump said "in the very near future" his administration will place tariffs on computer chips, semiconductors and pharmaceuticals "to return production of these essential goods to the United States of America."
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Just checking - people like paying more for things that keep them alive - like medicine, right?
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Trump got what he wanted with Colombia. But his tactics could come back to bite him.
Stoking confrontations to show strength, the president risks alienating allies and aiding China.“… But it could backfire in the long run, further destabilizing an already tenuous global order and even pushing would-be partner countries closer to Beijing.
“People in Latin America are extremely worried,” said Jorge Heine, the former Chilean ambassador to China.
For South America “the message is that it’s not a good idea to be very closely interlinked with the United States, because you might pay a heavy price,” continued Heine, who is now a professor at Boston University. “And as a result of that, China’s prospects for stronger ties have been enhanced.”
As tensions between Washington and Bogota simmered Sunday afternoon, China’s ambassador to Colombia posted an overture to China on X, reminding followers that Colombia’s foreign minister visited Beijing last year and described the bilateral relationship as the “best moment” in 45 years.
Colombia is hardly the only country reeling from Trump’s confrontational style. Of greater concern to allies, he’s continued to express his determination to wrest control of Greenland from the Danes, to “take back” the Panama Canal from Panama, to impose major tariffs on Mexico, Canada and Europe and to continue suggesting Canada’s simplest way to avoid tariffs is to become America’s 51st state.
Given the economic and military superiority of the United States, Trump almost always has the upper hand as he applies pressure on leaders of Canada, Denmark and now Colombia, all steadfast allies with a history of working closely with Washington.
But after four years in which former President Joe Biden prioritized multilateral coordination with key allies, Trump’s aggressive moves, all carried out with characteristic bluster on social media, have come as a shock even to leaders who felt more ready for a second term than they did his first. …”