- cross-posted to:
- usa@lemmy.ml
- cross-posted to:
- usa@lemmy.ml
Donald Trump just imposed a 25 percent tariff on virtually all goods produced by America’s two largest trading partners — Canada and Mexico. He simultaneously established a 20 percent across-the-board tariff on Chinese goods.
As a result, America’s average tariff level is now higher than at any time since the 1940s.
Meanwhile, China and Canada immediately retaliated against Trump’s duties, with the former imposing a 15 percent tariff on American agricultural products and the latter putting a 25 percent tariff on $30 billion of US goods. Mexico has vowed to mount retaliatory tariffs of its own.
This trade war could have far-reaching consequences. Trump’s tariffs have already triggered a stock market sell-off and cooling of manufacturing activity. And economists have estimated that the trade policy will cost the typical US household more than $1,200 a year, as the prices of myriad goods rise.
All this raises the question: Why has the US president chosen to upend trade relations on the North American continent? The stakes of this question are high, since it could determine how long Trump’s massive tariffs remain in effect. Unfortunately, the president himself does not seem to know the answer.
In recent weeks, Trump has provided five different — and contradictory — justifications for his tariffs on Mexico and Canada…
…more in the article.
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Apparently It’s supposed to get rid of the browns and the gays and the women and everyone else until it’s just a bunch of old white men sitting around, counting money, and masturbating to AI porn? Kind of like a hateful gross version of Scrooge McDuck.
Spooge McFuck
Stoolge mcduck
Scrooge McDuck was also pretty awful. They had to invent a nemesis for him, Flintheart Glumgold, just to make him not seem so bad by comparison.
Donald is in indentured servitude after all. Gnarly man.
Nah, he’s a inbred golden retriever, that Russia and musk owns
I was talking about Donald Duck. This made me laugh though. Thanks for brightening my day.
Don’t be daft. There’ll still be women and browns! They’ll keep the republican pickme women who want nothing in life other than to be bred, and the browns that mow their lawns.
And economists have estimated that the trade policy will cost the typical US household more than $1,200 a year
Remember this, when you hear about tax cuts for the wealthy.
That is… less than I’d have guessed.
off topic, but what does your signature mean? can you really copyright your comments? I’ve never seen this before
It’s the equivalent of those Facebook posts you see telling Zuck that you don’t consent to your data being stored and sold.
can you really copyright your comments?
By default, everything you write, from a novel to an Internet forum shitpost, is not only copyrighted by you but also “all rights reserved.”
What that guy is doing is (a) making his writings more available for reuse than they would be otherwise, and (b) making a point about how fucked-up it is that corporations treat stuff posted to social media as if it were a free-for-all they could use however they want.
This is the first intelligent explanation of that person’s sig that I’ve seen.
that’s what i thought. not sure if it is effective, but you do you!
not sure if it is effective
Well, if its good enough for ProPublica, and others, its good enough for me. 👍
all due respect, but you are not a news entity and you will never know whether your license was honored, so i really don’t see the point. but like i said, you do you
all due respect, but you are not a news entity and you will never know whether your license was honored, so i really don’t see the point. but like i said, you do you
The point is to have protection for my content. I have the same rights under the law as ANYBODY ELSE. All are capable of licensing their content on social sites that protects themselves with Safe Harbor laws.
As far as enforcement goes, that is not my job. If a law is not enforced doesn’t mean I don’t try to avail myself of the protections under the law. I don’t constantly audit my local police force to be sure that they are enforcing laws.
I want my content to be available and used by open-source organizations, and I signal that via my license. Otherwise the default licensing (show nothing) does not allow them to do so.
Finally, is it really worth your time (and all other citizens) to nag/harrass someone away from using the same laws that Corporations use to their benefit? I mean I point to an “Ask Lemmy” post often (here, let me do it again) where this has been hashed out already. You’re not saying anything new. But it seems like every individual still wants to recreate the conversation again, and again, and again, for SOME strange reason.
maybe if everyone is telling you the same thing, it’s not us that’s wrong? food for thought.
Removed by mod
That’s chicken change if you make, say, $80K+. Significant if you make, say, $20K. (Thinking about individuals, not households, adjust accordingly. And COL is a huge thing depending.)
In any case, I’d take that number with a bucket of salt. Can’t see any way that number was calculated meaningfully this early in the game.
All this raises the question: Why has the US president chosen to upend trade relations on the North American continent?
It’s because the trade agreement trump’s unhappy with was made by a raging moron.
For everyone else following along, the USMCA that was put in place after Trump renegotiated NAFTA in his first term… was made by Trump. So he’s unhappy with his own legacy. Which seems on brand for him, tbh.
At the time he was extremely proud of it. It was the best deal ever made.
Part of the agreement allows for a review next year and his complaints could have been addressed them, but apparently negotiated such a lousy deal he can’t wait that long.
They are tanking markets for both the fire sale bargains and to hurt the poor more, so they can direct the resulting anger towards projects like territorial expansion and government privatization.
Thank you. Stated goals and actual goals for these people are always entirely independent, if they align it’s just coincidence / convenience. People need to stop being so credible and debating this shit on its stated terms, fascists don’t debate in good faith.
The same moron who sunk casinos somehow
The secret ingredient is crime. The casinos were fronts for money laundering and “failed” on purpose as part of the scam.
That casinos well known to be money laundering for the Russians so it’s intentional, him not paying g contracters was where he had his scams
Hope that’s sarcasm because the USMCA was signed and implemented by Trump
OP made a factual statement.
Hahah agreed
Mr Trump actually said “I don’t know who would have signed this thing. It’s so bad!” about nafta2.
It’s also because the rest of the people in charge (mainly Republicans) aren’t doing anything to stop them. It also has to do with Americans being largely stupid.
Most republicans aren’t going to do anything because if they go against Trump … Trump will skewer them and they’ll lose their seat because their voters are stupid too.
Must be that same idiot president of the Virgin Islands.
Just my opinion as a layman: the tariffs give his corporate backers all the excuse they need to jack up prices even higher.
And when he takes the tariffs off, the prices never go back to the original starting point.
That, plus it seems very likely that he and friends are just manipulating the market to trade on the predictable moves he’s causing. Ya know, the kinda stuff that earned Musk some mild hand slaps and theatrical pearl clutching (in addition to giant financial benefits) in recent years.
It’s basically how Musk got rich. Intelligent market manipulation.
Intelligent market manipulation.
Not really intelligent, just blatant. He bet on the US and the NYSE enforcement mechanisms not actually working, and he won the bet. Same with Trump, except he bet against the US constitution.
It really feels like the kids of the people who carefully destroyed the checks and balances in the US and created a world order where they can quietly pull strings took over, and the kids don’t understand the value of discretion and are just seeing what they can get away with.
But he was also intelligent. He presumed that the bulk of money out there is comically dumb money, and he played that mass to his benefit. I remember watching 5,6,7 years ago how he would deliberately make Tesla stock look bad in the short term, to lure in suckers to short with high leverage, only to promptly reverse it, destroy the shorts and use their capital to make a new all time high. All while perpetually rewarding those who just hold and trust the man at the helm.
If this method sounds familiar, it was also used by the Tether clan to propel Bitcoin. But with a healthy dose of freshly printed fake money as well.
I really wish people would drop this idea that Trump and Musk are stupid. They say and do stupid things, and I’m not claiming they’re some god-tier intelligence playing 5D chess, but they are just so obviously not dumb, and thinking of them as dumb gives them useful cover for their malice. Trump in particular uses that cover to incredible effect.
It’s not just cover, it’s a downright genius distraction.
That’s a weird way to write inheritance.
Musk didn’t inherit billions.
How much was his dads gemstone mining business worth?
Less than a billion dollars.
Do you actually know how much it was worth though?
Agree, inflation can theoretically increase not only prices, but wages to compensate the increased cost of living, therefore appear as a boomed GDP, bringing the debt to GDP ratio lower without actually reducing debt. Eu, china, Russia all have much lower debt to GDP. Of course in reality inflation is hard to manage once it gets out of hand, and the levels of interest rates don’t give enough space for corrections, and the problem of inflation being the reduced consumption leading to a lesser increase of GDP.
yup, it forces everyone to raise prices, including competitors.
He is a Russian asset and has been since at least 2014
He has to be. I can’t think of any other reason why he’d be trying to hard to antagonize and disrespect long-time allies, while praising Russia. He then made that ridiculous statement that Ukraine started the war, when Russia was the one who invaded them, and also said that Zelensky should be ‘nicer’ to Putin. But Putin, who ordered the attack that caused who knows how many deaths, shouldn’t be ‘nicer’?
There was also the first term, where Trump fired the FBI director over an investigation into Russia, and then told Russia that he fired ‘that nut job’. What kind of message does that send to their own people? Not just that he fired the director, but that he bragged about it to the people he was investigating.
I honestly think most of the GOP knows, but they’re too embarrassed to admit it. Or maybe it’s just pride, they think it’s beneath them to be held accountable to anyone.
Yeah. Dude knows exactly why he’s weakening America as much and on every front as possible, it’s just he can’t exactly say the truth and isn’t smart enough to effectively lie about it.
Cuz he is a puppet, a Russian asset and generally not an intelligent person nor a good businessman.
Yep, he has no political will of his own, he’s a fucking geriatric reality TV host, he has no energy left, he’s being paraded around to push the talking points of people like Stephen Miller and Putin. He gives zero shits and it shows. He barely bothers trying to articulate his reasoning for anything, and he still has a rabid following of zealots who have turned off all thought and will just invent his justifications for him.
I know why he did it. Because that’s what his best best friend from Kremlin said and his two last working brain cells are in vacation playing golf.
He probably doesn’t understand that if US stops all trading, will become just a bigger North Korea with nukes.
Of course he doesn’t. He should be in elder care not in the White House.
Market manipulation. If you can tank the stock market at a time YOU know well in advance, then you stand to profit “tremendously”.
He or people in his stead might have purchased put options ahead of the anouncement of tariffs. -> profits When he then says “it was just a prank brooo!” he can make money by buying the now devalued assets and sell them as soon as they recover. rinse repeat.
I smell market manipulation maybe I am mistaken this smell and it is really the smell of mental instability…
This only works so well. Especially when he’s proven that he flip flops as often as he does, no one will reinvest, because who knows when the next time he does something stupid to tank the market again. The smarter ones will actually catch onto the grift, and see it for what it is, and just pull out altogether so when the recession/depression hits full on, they at least have something instead of nothing.
Idk if anyone will still have anything left after there is an all out market crash, who knows really? it could be going global… our world is more interconnected than it seems. especially economically…
Because his only job now is to sign any papers handed to him by his posse of self enriching gremlins. He doesn’t need anyone’s vote anymore, he doesn’t need anyone’s money (except if it starts with a B) and doesn’t care anymore because he will likely die in office. If he signs horrible shit billionaires around him want, then he gets to coast as president, no thinking involved. This is what he is doing.
Tariffs allow Trump to pay for his tax cuts to the ultra wealthy by stealing from the working class, without them knowing. He also gets to position himself as a strongman and negotiator. There you go.
Market manipulation. He is also a TV show host, so he is a showman. He likes creating drama.
He is famous for bad management, causing his casinos to go bankrupt. His management style is going to bankrupt US and somehow make him richer.
Why can’t we make him unalive? He wouldn’t be able to play with WWIII that way…
Or just watch him bankrupt USA just like his casino, I think US need to go through that pain to realize why they should not vote for a showman, TV show host again.
Sun Tzu: “Never interrupt your opponent while he is in the middle of making a mistake.”
Sun Tzu I should read/listen to him much much more …
Actually in his previous presidency he managed to lose personal wealth rather than increase it. He is so incompetent he can’t even enrich himself with 4 years of being president lol.
It’s part of their plan to eliminate the IRS and federal taxation, to be replaced by a universal sales tax. However, trump doesn’t have the authority to do that. But he can tariff. And a tariff is a little bit like a sales tax.
Therefore, we get tariffs.
Now, the other problem is that the tariff revenue is going to be like 1/10 that of the IRS tax revenue, which will require a 90% reduction in federal spending. Including defense, research, healthcare, and social security. Can’t collect social security tax if the IRS doesn’t exist either, so social security is getting axed.
It will of course make 56 million seniors homeless, but thats a small price to pay for a 15% pay bump for me!
Does he know where he is, what time of day, or even which day of the week? ok maybe we should see if he can repeat this: “Person, Woman, Man, Camera, TV” he seemed to pride himself in his ability to allegedly be able to do so… …allegedly…
Market manipulation … upset the system … make it dive … buy cheap … sell them high
Keep doing this for the next four years until you become king of the world!
Stocks have gone up though. I don’t understand it
Because Trump is going to buckle on the tariffs. He will come up with some reason they aren’t needed, or they’re severely reduced, and he pretends he’s the hero in the story.
The MAGA will lick his anus and everyone else will be like “Dafuq old man?”
Because hundreds of millions of people believe him and corporations bow to him and expect favour.
