Trump's tariffs could prove to be a "nuclear bomb" on international trade and tech imports, experts warn
- Thread starter zohaibahd
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FYI, we updated the story with the latest figures (stock losses) to reflect pricing at the close.
But it will "not become cheaper to do it here". It will get more expensive "to do it here". The fact that it will get also more expensive to import something done "not here" doesn't change that fact.
Beerfloat
Posts: 995 +1,902
Did you know that you can just stop posting once you've dug yourself into a hole deep enough?
Sure does we have all the natural minerals that we need to do everything here Trump is already removing the barriers that have prevented us from mining those areas. We're going to begin exploiting our own resources again The environmentalist can go pound sand.
At the end of the day I will support an American first over every other country policy and I don't care if they hate us they hated us before we had a policy like this as well The rest of the world has hated us since I've been alive and I've always been confused why we remain their friend.
I remember 20 years ago Europeans mocking us online burning American flags then now they want to say that we're great friends and we work great friends I call BS You're not my friend you never were my friend I don't care if the entire continent implodes.
Beerfloat
Posts: 995 +1,902
The highest GDP per capita in the world (with the exception of some small tax shelters), a dynamic economy that shows resilient growth throughout many decades, and very low unemployment rates.
Of course the absurd wealth inequality and low social solidarity means a merry few benefit while many struggle beyond the next paycheck, but that is an internal issue. It's easier to point fingers at dem foreigners but they're really not the main problem.
Eldrach
Posts: 362 +424
I can tell you straight away that tariffs doesn’t work well. I live in Norway - where we have put tariffs on selected goods (food basically - Beef, Cheese, Milk and a few other products). Let’s take Beef as an example - our tariffs were supposed to protect local farmers from being outmanouvered by farmers from other countries. Did it help the prices of Beef? No - The price of local beef has been increased to a level «just below the price of imported beef» - and same goes for all the other grocery products we put a tariff on. Why? Because they can.
Same will happen to the US. A product that would cost 1500 dollars to import will be pushed to 1450 USD - where it was 1000 dollars before.
Who pays for it? American citizens. Tariffs are crap - and everyone where I live f’in hates them - so we drive accross the border on a monthly basis and buy food at half price from our neighbour country, causing a massive leak in commerce. The party in government that forced the tariffs through is no longer in government, and are at the moment extremely unpopular.
But was the tariffs removed? No - that «income» has been wasted on crap, which will also happen in the US.
And remember, this was only on a few select grocery products - this will happen to your entire import industry, all your prices are about to increase by -alot-
Same will happen to the US. A product that would cost 1500 dollars to import will be pushed to 1450 USD - where it was 1000 dollars before.
Who pays for it? American citizens. Tariffs are crap - and everyone where I live f’in hates them - so we drive accross the border on a monthly basis and buy food at half price from our neighbour country, causing a massive leak in commerce. The party in government that forced the tariffs through is no longer in government, and are at the moment extremely unpopular.
But was the tariffs removed? No - that «income» has been wasted on crap, which will also happen in the US.
And remember, this was only on a few select grocery products - this will happen to your entire import industry, all your prices are about to increase by -alot-
What's grade school obvious is that we can't rely anymore on faraway rival countries to produce stuff for us.
To incentivize businesses to move, they must be convinced they have to. If tariffs were set to increase in 2-ish years, this would be interpreted as a bluff or time for negotiations or anything else but certainty, and anyone would have waited to know for sure.
You see that Trump is talking about tariffs since quite some time, his win was certain long before the election, yet very few have plans for this situation (let alone something beyond plans).
All these 'Trump is too stupid' claims are really funny, by the way. The guy became President two times (according to some 3 times) against all odds, with the entire machinery of the state, mass media and big tech working against him, and with any conceivable abuse of the law exploited to stop him ... if after all that he's 'too stupid', what to say about those he defeated?
Beerfloat
Posts: 995 +1,902
Why, though? If it's more profitable for us to sell end products and services?
As for faraway rival countries, nearly the whole world was tarriffed. Starting with Canada and Mexico, of all places.
Oh but he had almost 50% of Congress and plenty media and big companies backing him, too. And noone is better at abusing, exploiting, and circumventing the law than Donald Trump.
We had a crazy PM, Truss, who upset the markets with her economic policies, she got the boot pretty darn quick.
Trouble is, I think in the US - Republican voters are so blinkered, partisan, mostly completely clueless and deluded that there is nothing Trump might do that they wouldn't support.
JamesBlond
Posts: 418 +271
they were screwing you long before Trump stepped in to save the US companies, 1.2Trillion invested into the US manufactruing since he came into power in 3 months...
Lets see the Logic flow from the Retarded Mentally ill left
The Talking Tech
Posts: 866 +2,180
Perhaps you are too ignorant to acknowledge the fact that Biden is absolutely right, any well respected scholar would agree with him regardless if you choose to make fun of a 82 year old individual with a speech impediment.
It seems like your parents failed at their most basic job.
This is really awesome for the rest of the world.. just not America.
Thank you!
Thank you!
You're aware unemployment doesn't track people have been unemployed for more than a year don't you long-term unemployed or an actual problem but they don't count it the government statistics they intentionally don't there's plenty of long-term unemployed. The fact is the jobs have to come back here now this really helps out the actual poor in this country because those jobs are coming back and they're going to need people to work those jobs.
See here's what you're missing Trump is a populist, He's not an old school Republican he is literally a populist candidate That's why he won the swing states people that can't figure this out are nuts. You know what's real popular in this country right now America no longer being taken advantage of on the world stage. America no longer giving away our money to defend countries that are openly hostile to Americans when they come to visit.
And yeah let's talk about that because if you go watch anybody that does any sort of traveling both Europeans who travel to America, and Americans travelimg to Europe you're going to find something really interesting out. Europeans travel to America they're treated like family by the average American. And some Europeans find it off-putting that Americans are so friendly but that's our nature. When Americans go to Europe they are treated with derision and hostility. And this isn't just since Trump took office this has been consistent since I've been alive.
Here's the thing America is no longer bys the message that the people over there are our friends we don't see it. Diplomatically friends because you needed us not because you wanted us in the relationship had we simply left our checkbook open and stayed away it would have been the same relationship. You're right it is a whole new world, one where America is finally doing what's best for American interest not for Western interests not for global interests for American interests. We haven't done that since before world war II.
Economics 101: prices will rise when there is less competition and when components are harder to source.
Production will also slow down because of the lack of manpower and because of how much harder it will be to get the required production components/parts.
There is no light at the end of the tunnel.
The Talking Tech
Posts: 866 +2,180
For someone that worries about their future retirement not voting is exactly the reason why we are in this mess.
Eldrach
Posts: 362 +424
I can tell you for a fact that is wrong. Americans are not being treated with derision and hostility. It might be they are not used to a different culture - but as with everywhere you travel, if you are polite - you’ll get a polite response.
Observere the locals and act accordingly - that also goes for Europeans travelling to the US, especially concerning your tipping culture which is foreign to alot of us across the Atlantic.
Europeans loves Americans, Americans loveds Europeans. Don’t listen to stupid proganda - come and visit!
Are you suggesting that I should have voted for Trump?
Vulcanproject
Posts: 1,802 +3,504
The reality these people don't understand that trust is broken. Who among America's wealthy allies sees this behaviour and thinks yes, I'm now going to invest billions into building manufacturing in the USA that'll take us five years to get running. Only to understand this administration could change its mind on a whim, or the next one could be different too by the time the factory is built.
Trump and Co talk about how they despise what they call freeloaders of security in Europe or places like Japan. They should be more self sufficient on defence. OK they should spend more but again why should they throw investment money at the USA if they think they aren't even getting any reliable friendship or security benefits? They won't! They'll turn back to domestic markets or other partners.
Investors HATE HATE HATE uncertainty. This will not work. A twelve year old can tell you this will not work. Everyone else is telling them this will not work. The breathtaking hubris exhibited by this American administration will destroy the country.
Maybe we shouldn't have an economy based around what investors want who don't do any actual work and just throw money around? That's how we end up with Private Equity funds buying up businesses, running them into the ground and taking out massive loans before filling for bankruptcy.
Vulcanproject
Posts: 1,802 +3,504
The point was Trump believes this will onshore manufacturing and force American investors as well as foreign ones to push more capital into the country. Hilarious but no. Very much no. Trust and stability matters more than they understand.
dirtyferret
Posts: 1,051 +1,685
It's an ignorant take that manufacturing will be coming back to the states that his gullible followers fall for. Most items that require unskilled labor will still be done over seas because it just so much cheaper to be done there even with tariffs. You can bring back some of the high end manufacturing but parts/supplies you need for those items are still done over seas so prices will still rise. Even Mike Pence stated the tariffs are stupid and will cost the average USA household 3,500 in extra cost (and that's on the low end).
It will onshore SOME jobs, but the US will never be the manufacturing center of the world again. the real-estate market has bleed the middle clash dry and made a "living wage" so high that it's impossible to make anything at a competitive price on the world market.
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