Potential re-structuring on all global trade because he wants ‘universal tariffs to pay off the national debt’, with the assumption that US doesn’t get tariffed right back to equalize.
Let alone that the countries that are hit by tariffs might then be like, hmm should we just accept that we lost X % of our exports or… maybe we should just sell it straight to China instead who has the industrial capacities to suck up everything, and then be able to produce everythin even cheaper and get access to new goods. Which I think is exactly what happened hte last time when he pulled out of TPP and then decided to tariff India and other countries who then just started trading more with China instead
wm_1176 on
Donald Trump will be a disaster for America, period.
HearYourTune on
But it’s bad for the economy and billionaires too.
they are so greedy they would rather not pay taxes for an amount a year that they lose in a day of trading and then lose more when we go into a recession and our economy collapses.
their greed blinds them and they think it’s patriotic to be a tax cheat.
btxglspl on
Diaper Don is worse than Hitler, and we’re focusing on tariffs? How about his entire platform of hate & violence? How are mass deportations and murder less important than economic promises?
freakincampers on
Just a reminder that the last tariffs cost farmers so much, the entire tariff went to bailing them out.
Oh, and China went with a different country to fulfill their agricultural need. Those farmers lost big.
Ihaveaterribleplan on
They could have saved ink with just “Trump’s a Disaster”
Itsprobablysarcasm on
Donald Trump has been a disaster for America.
He’s king Meirdas – everything he touches turns to shit.
Average Americans are objectively worse off because of him, but they got to hate people openly and freely, so that tells you all you need to know about MAGA and those who support Trump.
urhazard on
For those that are confused about tariffs, the IMPORTER does pay the US Government the tariff amount. Let’s say a company decides to import LVT flooring from China. If that costs $10 per box, they would have to pay the US Government $2.50 in order to bring that into the country. So now this company paid $12.50 for that box of flooring planks. At no point in this exchange does China, or the manufacturer in China, pay this tariff. It is the American company paying it, and then passing it along to the US consumer.
Why is this so hard for Trump to grasp?
filthy_beauty on
Tariffs cause inflation. Domestic producers will raise their prices because foreign competitors are priced higher. Basic supply and demand. He really is an idiot.
korean_jess on
He doesn’t need to know how they work his brainless followers do not care and they won’t question him.
cuernosasian on
I hope Bloomberg tv and their anchors decide to read this opinion.
MoonEliza on
Well, he’s an incredibly stupid person. He never will understand.
ur_freak on
He doesn’t need to understand, he just needs his supporters to be dumb enough to know he doesn’t, and to bank on his culture war bullshit.
Dapper-Percentage-64 on
Even taking out the word tariffs ,that sentence would ring true
Gommel_Nox on
By definition tariffs are inflationary.
It’s literally how they work.
brywalkerx on
Donald Trump’s existence is a disaster to America.
mrg1957 on
Yeah.
My 75 year old older sister is complaining she doesn’t have enough to live on due to inflation. She’s also a vehement Trumpster.
joepez on
We’re talking about a base who thinks “drill baby drill” is actual policy. They’ve been conditioned to believe tariffs are some magic cure. Neither their leader nor they understand what they are never mind work and assume America somehow in todays world works in a vacuum.
Heck even in his latest rants about how tariffs saved steel he’s wildly out of touch. US Steel is trying to sell itself. Which has less to do with tariffs and China and more to do with not investing in modernizing its facilities for decades.
Morepastor on
It is more than just a cost issue. China is one of the largest manufacturing countries for American supply chains. China holds a lot of American debt. China is a growing world war threat. The fact that America is an important part of their economy makes war much less likely but once we either become less important as a customer our our economy becomes unstable and they lose money on the debt they hold and we become less of a customer war and more power becomes more of an economic opportunity for them. Currently trade keeps peace.
loosepaintchips on
the ones biden never repealed and renewed or some different ones?
More_Waffles2024 on
Prices are going to remain high due to the dock workers strike. This will keep happening by either administration.
DarkOne4098 on
Only the Tariffs? Seriously the media has got to stop playing us as fools.
Javasndphotoclicks on
Even the news projects.
waffle299 on
Its like a five year old’s first game of chess. They’ll win if you just deliberately no move your threatened pieces.
BrewKazma on
They were before. The steel tariffs fucked everything.
danfromwaterloo on
Tariffs play an integral role in protecting local production – but Trump’s tariffs demonstrate a high school level understanding of economics.
When you have two countries – say US and China – who have two fully functional industries that are competing with roughly equal price points, tariffs can push demand to the local competitor by artificially inflating the costs of the foreign competitor. The problem with leveraging this approach in the current environment is that the two countries aren’t on even footing for most industries. Much of the products we buy in stores are manufactured in China. It would take a decade for most industries to adjust to tariffs on China to make local products even remotely to meet demand. In the interim, we would all have to pay the Chinese-made goods, because there’s really no alternative. We are fully dependent on foreign-made goods. Plus, assuming that over 3-10 years, we would bring back manufacturing on-shore, the cost of those goods would be significantly more expensive. The reality is: why would we pay an American $15 an hour to manufacture goods we can get made in a sweatshop in Bangladesh for $15 a day?
What good does it do the United States to build a middle class manufacturing capability over 20 years if nobody can afford anything between now and then?
ComprehensiveYam on
Trump makes up policy proclamations on the fly without actually discussing with anyone who has expertise in the field. He thinks being president is about having dudes on horseback with flags and trumpets unfurling scrolls and reading off whatever nonsense he came up while eating Fox and Friends this morning instead of actually, you know listen to subject matter experts and deciding what to do after being informed on the situation.
5DsofDodgeball69 on
This all gets passed along to the eventual customer. It doesn’t harm China or Europe at all.
Raspberries-Are-Evil on
They already were.
He put farms out of business– then tried to blame China and sent relief checks to farmers to buy their voted.
29 Comments
Potential re-structuring on all global trade because he wants ‘universal tariffs to pay off the national debt’, with the assumption that US doesn’t get tariffed right back to equalize.
Let alone that the countries that are hit by tariffs might then be like, hmm should we just accept that we lost X % of our exports or… maybe we should just sell it straight to China instead who has the industrial capacities to suck up everything, and then be able to produce everythin even cheaper and get access to new goods. Which I think is exactly what happened hte last time when he pulled out of TPP and then decided to tariff India and other countries who then just started trading more with China instead
Donald Trump will be a disaster for America, period.
But it’s bad for the economy and billionaires too.
they are so greedy they would rather not pay taxes for an amount a year that they lose in a day of trading and then lose more when we go into a recession and our economy collapses.
their greed blinds them and they think it’s patriotic to be a tax cheat.
Diaper Don is worse than Hitler, and we’re focusing on tariffs? How about his entire platform of hate & violence? How are mass deportations and murder less important than economic promises?
Just a reminder that the last tariffs cost farmers so much, the entire tariff went to bailing them out.
Oh, and China went with a different country to fulfill their agricultural need. Those farmers lost big.
They could have saved ink with just “Trump’s a Disaster”
Donald Trump has been a disaster for America.
He’s king Meirdas – everything he touches turns to shit.
Average Americans are objectively worse off because of him, but they got to hate people openly and freely, so that tells you all you need to know about MAGA and those who support Trump.
For those that are confused about tariffs, the IMPORTER does pay the US Government the tariff amount. Let’s say a company decides to import LVT flooring from China. If that costs $10 per box, they would have to pay the US Government $2.50 in order to bring that into the country. So now this company paid $12.50 for that box of flooring planks. At no point in this exchange does China, or the manufacturer in China, pay this tariff. It is the American company paying it, and then passing it along to the US consumer.
Why is this so hard for Trump to grasp?
Tariffs cause inflation. Domestic producers will raise their prices because foreign competitors are priced higher. Basic supply and demand. He really is an idiot.
He doesn’t need to know how they work his brainless followers do not care and they won’t question him.
I hope Bloomberg tv and their anchors decide to read this opinion.
Well, he’s an incredibly stupid person. He never will understand.
He doesn’t need to understand, he just needs his supporters to be dumb enough to know he doesn’t, and to bank on his culture war bullshit.
Even taking out the word tariffs ,that sentence would ring true
By definition tariffs are inflationary.
It’s literally how they work.
Donald Trump’s existence is a disaster to America.
Yeah.
My 75 year old older sister is complaining she doesn’t have enough to live on due to inflation. She’s also a vehement Trumpster.
We’re talking about a base who thinks “drill baby drill” is actual policy. They’ve been conditioned to believe tariffs are some magic cure. Neither their leader nor they understand what they are never mind work and assume America somehow in todays world works in a vacuum.
Heck even in his latest rants about how tariffs saved steel he’s wildly out of touch. US Steel is trying to sell itself. Which has less to do with tariffs and China and more to do with not investing in modernizing its facilities for decades.
It is more than just a cost issue. China is one of the largest manufacturing countries for American supply chains. China holds a lot of American debt. China is a growing world war threat. The fact that America is an important part of their economy makes war much less likely but once we either become less important as a customer our our economy becomes unstable and they lose money on the debt they hold and we become less of a customer war and more power becomes more of an economic opportunity for them. Currently trade keeps peace.
the ones biden never repealed and renewed or some different ones?
Prices are going to remain high due to the dock workers strike. This will keep happening by either administration.
Only the Tariffs? Seriously the media has got to stop playing us as fools.
Even the news projects.
Its like a five year old’s first game of chess. They’ll win if you just deliberately no move your threatened pieces.
They were before. The steel tariffs fucked everything.
Tariffs play an integral role in protecting local production – but Trump’s tariffs demonstrate a high school level understanding of economics.
When you have two countries – say US and China – who have two fully functional industries that are competing with roughly equal price points, tariffs can push demand to the local competitor by artificially inflating the costs of the foreign competitor. The problem with leveraging this approach in the current environment is that the two countries aren’t on even footing for most industries. Much of the products we buy in stores are manufactured in China. It would take a decade for most industries to adjust to tariffs on China to make local products even remotely to meet demand. In the interim, we would all have to pay the Chinese-made goods, because there’s really no alternative. We are fully dependent on foreign-made goods. Plus, assuming that over 3-10 years, we would bring back manufacturing on-shore, the cost of those goods would be significantly more expensive. The reality is: why would we pay an American $15 an hour to manufacture goods we can get made in a sweatshop in Bangladesh for $15 a day?
As a case study, an iPhone would cost between 30,000 and 100,000 if made in the US today: https://www.forbes.com/sites/quora/2018/01/17/how-much-would-an-iphone-cost-if-apple-were-forced-to-make-it-in-america/
What good does it do the United States to build a middle class manufacturing capability over 20 years if nobody can afford anything between now and then?
Trump makes up policy proclamations on the fly without actually discussing with anyone who has expertise in the field. He thinks being president is about having dudes on horseback with flags and trumpets unfurling scrolls and reading off whatever nonsense he came up while eating Fox and Friends this morning instead of actually, you know listen to subject matter experts and deciding what to do after being informed on the situation.
This all gets passed along to the eventual customer. It doesn’t harm China or Europe at all.
They already were.
He put farms out of business– then tried to blame China and sent relief checks to farmers to buy their voted.