Justin Wolfers (@justinwolfers.bsky.social)
There's no question that today's tariff announcement will give the United States the highest tariff rates of any industrialized country. And it's not even close.
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The Trump Tariffs thread
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Roger Wilco
Diamond Member
Seems extra stupid
Bluesky
bsky.app
KnittingSarcastic (@knittingsarcastic.bsky.social)
The penguins on the Heard and McDonald Islands announce they are putting 30% tariffs on US goods.
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MomentsofSanity
Lifer
That they put tariffs on an uninhabited island chain in the Antarctic could not be a better portrayal of this entire stupidity. Penguins. They tariffed fucking penguins.
MomentsofSanity
Lifer
Oh and global financial meltdown. Dow futures down 1000 points. This is how you destroy the global economy and send everyone into recessions. I don’t wanna go to work tomorrow….
MrSquished
Lifer
I'm kind of excited for tomorrow really. May as well enjoy the shit show. I got a Costco rotisserie chicken today so I'll watch it all start to burn down with a Chicken Salad sandwich and whatever beer I decide to go with.
Indus
Lifer
Someone know if White House insiders suggest an open top car through Texas yet?
sdifox
No Lifer
WilliamM2
Diamond Member
According to this article, those are JUST the reciprocal tariffs. Imposed on top of the existing tariffs, They give the example that China is now 54% total.
MrSquished
Lifer
I love me some Belgian Tripels - and good point, enjoy them before the prices go up lol
Trump has made it crystal clear that he doesn’t believe the platitudes about how awesome the free market is. He believes all the worst things about the free market that a freshly-minted Marxist does, he just thinks they’re features instead of bugs. Trump doesn’t believe in the win-win, utility-maximizing transaction where the demand and supply curves cross, like the first day of Economics 101. He believes every transaction has a definite winner and a loser, it’s just that he thinks himself shrewd and ruthless enough to always be the winner.
It’s one of the sources of his success with the uneducated white lower class: they feel like they’re the definite loser of every transaction they’ve been in, and they think because Trump recognizes it that he’s on their side. It’s also why he has utter contempt for everyone he does business with. He doesn’t see their success and his as linked in any way (developer-contractor, employer-employee, etc.), he sees them as adversaries he’s already defeated.
Trump also doesn’t believe in free trade, where each nation follows its comparative advantage and makes what it makes best while other nations make what they make best and everyone’s better off. Which again is an abstraction, as a nation can collectively be better off from free trade and have sectors that aren’t better off, etc. To Trump, every nation that sells us something has just fucked us over. The more they sell the more they fuck us over. And it is "nations" to him: VW doesn’t sell cars to American individuals, Germany or the EU sells cars to the US. Nobody is a bigger believer in autarky than Trump, he’s more Juche than the Kims.
Except his overweening need to be the winner means he wants not an autarkic America but an economically conquering America that sells massive amounts of goods to the world while buying nothing from abroad. However improbable or unsustainable that is.
And that’s another source of his success with his base: people who remember, or were told by their parents, of the postwar years into the '50s when the US seemingly DID sell most everything to the rest of the world while buying little from abroad. It’s beyond their thinking that such a situation did not exist before the destruction of the war and could not exist too much longer after the war once nations started rebuilding their industry and infrastructure. They’ve convinced themselves, because these circumstances prevailed in their childhoods or early adulthoods, that this transient postwar anomaly was somehow the normal situation.
Sufficiently annoyed countries might stop using the USD as a reserve currency, or even investing in the US if they smell discrimination or think the US dismantling of consumer and investor protections means they no longer respect the rule of law.
It’s one of the sources of his success with the uneducated white lower class: they feel like they’re the definite loser of every transaction they’ve been in, and they think because Trump recognizes it that he’s on their side. It’s also why he has utter contempt for everyone he does business with. He doesn’t see their success and his as linked in any way (developer-contractor, employer-employee, etc.), he sees them as adversaries he’s already defeated.
Trump also doesn’t believe in free trade, where each nation follows its comparative advantage and makes what it makes best while other nations make what they make best and everyone’s better off. Which again is an abstraction, as a nation can collectively be better off from free trade and have sectors that aren’t better off, etc. To Trump, every nation that sells us something has just fucked us over. The more they sell the more they fuck us over. And it is "nations" to him: VW doesn’t sell cars to American individuals, Germany or the EU sells cars to the US. Nobody is a bigger believer in autarky than Trump, he’s more Juche than the Kims.
Except his overweening need to be the winner means he wants not an autarkic America but an economically conquering America that sells massive amounts of goods to the world while buying nothing from abroad. However improbable or unsustainable that is.
And that’s another source of his success with his base: people who remember, or were told by their parents, of the postwar years into the '50s when the US seemingly DID sell most everything to the rest of the world while buying little from abroad. It’s beyond their thinking that such a situation did not exist before the destruction of the war and could not exist too much longer after the war once nations started rebuilding their industry and infrastructure. They’ve convinced themselves, because these circumstances prevailed in their childhoods or early adulthoods, that this transient postwar anomaly was somehow the normal situation.
Sufficiently annoyed countries might stop using the USD as a reserve currency, or even investing in the US if they smell discrimination or think the US dismantling of consumer and investor protections means they no longer respect the rule of law.
UNCjigga
Lifer
Nintendo is likely to limit Switch 2 preorders in the US, seeing how the two countries where they are produced are now subject to 46% and 51% tariffs. Good luck snagging one at MSRP!!!
biostud
Lifer
Suddenly our sales taxes of 25% doesn't seem so high 😛
NWRMidnight
Diamond Member
He gets to pick the nominee, still had to be affirmed by Congress, so if Democrats take back the house/Senate, he won't be able to just stick his loyal Trump junk sucker in there.
Don't forget the processor... is made by Samsung... in South Korea... with 25% tariff
Brainonska511
Lifer
Saw a suggestion that the tariff rates were literally decided by looking at imports vs exports, and wouldn't be surprised if they set the rates in such a stupid and hamfisted fashion.
Trade deficit divided by that country's exports to us. So dumb...
Trade deficit divided by that country's exports to us. So dumb...
Last edited:
K1052
Elite Member
Saw a suggestion that the tariff rates were literally decided by looking at imports vs exports, and wouldn't be surprised if they set the rates in such a stupid and hamfisted fashion.
Trade deficit divided by that country's exports to us. So dumb...
Well this explains why Bessent looked like he was gonna cry on TV.
MrSquished
Lifer
If this is legit, they might have come up with i using AI lolol
SteveGrabowski
Diamond Member
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