Nice to see that he’s punishing Canada (35%) with higher tariffs than the EU. Also nice to see all those concessions everyone made have done exactly fuck-all.
Appeasing Trump does not work. It just shows him you’re weak and willing to back down. He will come back for more again and again as long as you keep bending over for him.
The irony is that all this will fuck the U.S. way worse than anyone else, boosting the cost of living dramatically. This notion that tariffs will drive manufacturing and production back to the U.S. is a pipe dream, and even if it were to occur it would take a decade to build the factories, infrastructure, and supply lines. Moreover, the tariffs themselves make it much more expensive to shift over to U.S. production. Want to build a factory? You’re going to need steel, copper, lumber, etc., all of which cost way more now because of the tariffs.
What will ultimately happen is this: tariffs will dramatically raise the price of goods (inflation), crush the U.S. economy, and Trump’s new Federal Reserve lackey that he puts into place will lower interest rates to juice the economy, which will exacerbate inflation and likely lead to hyperinflation. There is a reason why gold is in the strongest bull market since the one triggered when the U.S. left the gold standard in 1971. As the situation plays out, more people will begin to recognize it and pile into gold, as real assets like gold hold their value.
Why is he doing this? I think the easiest explanation is that he’s a malignant narcissist, and they crave attention. Look at how much attention he gets every time he slaps tariffs on countries. You can’t look at the news without seeing something about Trump dominating it. In the end, the U.S. will suffer hyperinflation and economic collapse, and the only way forward will be to dramatically scale back spending, which will cause a major depression that I’ve dubbed “The Greatest Depression”.
This notion that tariffs will drive manufacturing and production back to the U.S. is a pipe dream, and even if it were to occur it would take a decade to build the factories, infrastructure, and supply lines.
And on top of that the counter-tariffs will make it even worse. Manufacturers would have to make their products within the US and suffer tariffs trying to sell to everyone else. That would given them ~350 million people inside the US to sell to, and literally everyone else would pay higher prices. They could never compete against that. So not only does it take a long time, stable economic conditions to invest in, but they would be restricting their market severely if they brought manufacturing onshore.
Still, the Canadian economy is heavily tied to the US. They’re going to tank their own, but it’s going to hurt us up here too.
Upvoted for the first two paragraphs. Not sure either way on the third.
Two out of three ain’t bad.
Why is he doing this?
Are we really still asking this? The destruction and damage is the point. That should be obvious by now.
That’s why the people around him are doing it.
He is senile and regressing. Probably doesn’t even remember the last time he threatened or put tariffs on a countries imports.
Why is he doing this?
Market manipulation.
It’s fair to assume that it was worth a try though and likely that they’ll pull everything back again once they realize he’ll keep asking for more.
The rest of the world has nothing to lose but the visa is shutting every door to every ally and partner they ever had
No worries. Taco-Trump will back down
My father in law was just bragging about how the treasury earned over $100B in tariffs so far as though it’s not just
foreign companiesimporters passing that cost on to consumers.It’s literally just a $100B sales tax hike. So far.
Edit: yeah, the cost is paid by importers, not exporters. So it’s literally a tax on US-based importers passed on to US consumers.
It isn’t foreign companies. The AMERICAN company that imports the goods pays the tariff then passes that cost on to the American consumer. Tarrifs are a tax on the poor that are being used to give tax breaks to the rich.
deleted by creator
Don’t be shocked, but I think your father-in-law might be an idiot.
Got to steer the narrative away from the child rape!
Well, it works.
August 1st. Just enough time for TACO Don to TACO out…
He is trying to distract the public from the Epstein files.
🌮
He prefers the news cycle goes back to this rather than Epstein.
I wonder why?
In 5 days when the stocks have dropped enough for his friends to profit of it, this decision will be reversed.
What a ruinous dipshit
Tariffs are fucking stupid.
It’s just an unconstitutional tax on Americans. But I’m glad to see it. As stupid as it is it further isolates this shithole. Makes other countries do business with each other and exclude this country. Which is a win for everyone. Except us. But we elected a fascist gameshow host. We got a debt to pay.
TACO
Gambling but there’s no losing (except maybe his approval rating for one fucking week) from stagnating an entire economy
Only one reason to swap to the white hat imo
Indeed. It’s not the white “USA” hat, it’s the “white USA” hat.
“I make tariffs I take them away!” 🫲🍊🫱
