The Trump Tariffs thread

[Indus]

Quite a few YT accounts hyping up some trade deal with China as per the WH but watch yourselves.

I don't think it's real.. but would anyone be surprised at more market manipulation?

 

[K1052]

So down to 30% for Chinese imports and 10% for US imports for 90 days. US Consumers are still going to eat major price increases tho.

 

[Panino Manino]

"WEAK!"

 

[pmv]

So down to 30% for Chinese imports and 10% for US imports for 90 days. US Consumers are still going to eat major price increases tho.

Damn, these tariffs go up-and-down like a windows 'estimated time remaining' progress indicator.

 

[uallas5]

so the trade "deal" is

1. Trump blinking
2. tariffs going down but not gotten rid of
3. continuing business uncertainty because there's a 90-day time limit and he may have them go up again

did I miss anything? all this "winning" has gotten my heart goin a flutter an I can't see straight

 

[K1052]

90 days is the new two weeks.

 

[Josh128]

Its just a 90 day "truce" of sorts without any real commitment from either side than just agreeing on those tariff numbers. Its great though, because the previous numbers were untenable for many, many small & large businesses in the US and China. The WTO and both Republicans and Democrats have agreed that China has very unfair trade practices, such as currency manipulation, subsidies, IP theft, forced labor, etc., so the real question is what policies will China agree to change for a permanent agreement and to what extent?

But this is a major positive development in the de-escalation of trade war, good for the world, IMO.

 

[dainthomas]

Businesses famously love wild, erratic swings in the cost of goods. I'm sure this will restore everything to normal.

 

[Brovane]

Article on Sunday from WSJ. Not sure if this latest changes will make much of a difference.

There is no consistency from the current regime.

How Tariffs Are Crushing Small Businesses: ‘Nobody in Power Seems to Care’

 

[misuspita]

Of course they don't care. Anyone that voted for him thinking he sees anything below 100 millions is crazy. But hey ho, Darwin wins

 

[MomentsofSanity]

Article on Sunday from WSJ. Not sure if this latest changes will make much of a difference.

There is no consistency from the current regime.

How Tariffs Are Crushing Small Businesses: ‘Nobody in Power Seems to Care’

It's not just small business. Planning this fiscal quarter after reviewing everything with my group and laying it all out I then had to throw in the... BUT...

 

[Indus]

So down to 30% for Chinese imports and 10% for US imports for 90 days. US Consumers are still going to eat major price increases tho.

So it's not just big business up at 3 AM because of tariffs.. it's the little people like me and you too! 🙁

 

[MomentsofSanity]

so... they gonna refund all those businesses and people who paid that ridiculous tariff amount for the two weeks it was there before he caved for absolutely nothing in return... again?

 

[sdifox]

Yeah I doubt current deal will last 90 days before Donny pulls a "Ha! Sucker!"

 

[brycejones]

How is America going to get rich on China paying only a 30% tariff? I was told there were riches to be had.

 

[RnR_au]

How is America going to get rich on China paying only a 30% tariff? I was told there were riches to be had.

I think he is only trying to pay for the tax cuts for his friends. 30% tariff on China is about $130bil a year, if trade volume doesn't decline.

 

[RnR_au]

So down to 30% for Chinese imports and 10% for US imports for 90 days. US Consumers are still going to eat major price increases tho.

So in the agreement posted above by @Panino Manino their current tariff is 10%.

Sounds like Trump caved.



This tariff stuff is more confusing than my own code...

 

[Indus]

This tariff stuff is more confusing than my own code...

No it's not..

A 30% tariff, is an additional 30% sales tax on Americans on top of state and local sales tax.

 

[Jaskalas]

No it's not..

A 30% tariff, is an additional 30% sales tax on Americans on top of state and local sales tax.

Isn't this the same tariff Trump stuck us with on his first term?

 

[K1052]

Isn't this the same tariff Trump stuck us with on his first term?

No this is much larger in size because they impact all imports not just a few sectors like the first term. The 10% global tariff on everybody else is also gigantic. Together these policies result in the largest tax increase in US history.

 

[Heartbreaker]

No this is much larger in size because they impact all imports not just a few sectors like the first term. The 10% global tariff on everybody else is also gigantic. Together these policies result in the largest tax increase in US history.

If you just Tariff everyone 10%, that gives them an excuse to apply selective more sensible tariffs against specific US goods. So it will work as a drag on US exports.

It will also drive inflation inside the USA.

It's also not enough to make any production of anything move to the USA.

 

[Indus]

If you just Tariff everyone 10%, that gives them an excuse to apply selective more sensible tariffs against specific US goods. So it will work as a drag on US exports.

Yep

It will also drive inflation inside the USA.

Majorly

It's also not enough to make any production of anything move to the USA.

I just checked my house recently to find out what was Made in America..

1. Weber Grill
2. Can Opener
3. Hammer & Pliers from the 1950's
4. 1950's oven that we don't use anymore

And nothing else.

 

[IronWing]

No this is much larger in size because they impact all imports not just a few sectors like the first term. The 10% global tariff on everybody else is also gigantic. Together these policies result in the largest tax increase in US history.

Yep, but explaining to Americans that Trump unilaterally imposed the largest, most regressive tax hike in history seems to be an impossible task in the face of Trump’s wall of bullshit. If he had called it a national sales tax, his own supporters would have burned the White House down.

Our paychecks are worth a minimum of 10% less today than six weeks ago. The loss of buying power is on par with what hyperinflation would do.

 

[Indus]

Yep, but explaining to Americans that Trump unilaterally imposed the largest, most regressive tax hike in history seems to be an impossible task in the face of Trump’s wall of bullshit. If he had called it a national sales tax, his own supporters would have burned the White House down.

Our paychecks are worth a minimum of 10% less today than six weeks ago. The loss of buying power is on par with what hyperinflation would do.

Easiest place to see it is.. Home Depot.

Dewalt table saw usually goes on sale around Memorial Day for $299. Just checked today.. $329.

10% more check!

It'll likely be more eventually if it's made in China as I suspect.

 

[MomentsofSanity]

Yep

Majorly


I just checked my house recently to find out what was Made in America..

1. Weber Grill
2. Can Opener
3. Hammer & Pliers from the 1950's
4. 1950's oven that we don't use anymore

And nothing else.

awwwww man... not my Weber..... As a Canadian this pains me immensely now....Good thing I got my new one BEFORE all this nonsense!