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Liberation Day is here

jomar

jomar

chillin
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So my take, given trump’s purely transactional and me me me personality, is that the tariffs are strictly to build up the coffers McScrooge style to pay for the tax break for the 1%ers. Then if he can’t break the constitution to be president for life, oh well, golf on in a golden cart.

Meanwhile, musk has successfully scrapped any oversight on his increasing govt contracts (can you say starlink air traffic control systems) and ethics violations so he’s good.

And who’s buying all those govt buildings that the govt will rent back to save money on cleaning services and whatnot. Big eye roll there. Was this scheme in the project 2025 appendix?
 
Yup.. "Liberation Day".

This new American presidents administration, they do know that this is going to start a trade war? A war with no winners.

And, they do know (I feel like a broken record at this point), that EU is a pretty tight knit group, and that you cannot single a country out, we will react like a unity.

USA simply does not have the cards for this game. I am sure the tech oligarchs, who are supporting the administration, are looking forward to the retaliation from EU.

Tariffs on; Netflix, Disney.. what about software from Microsoft.. the possibilities are endless.

International trading is not a zero-sum game, it is not "Us vs. Them", that way of thinking is archaic and represents a poor and lacking understanding of fundamental international business and economic.
 
Do we learn; have we learned from history?

President Herbert Hoover’s tariffs, most notably the Smoot-Hawley Tariff Act of 1930, significantly worsened the Great Depression by imposing steep duties on over 20,000 imported goods, aiming to protect American industries and agriculture. Instead, the tariffs triggered a wave of retaliatory measures from other countries, sharply reducing international trade at a time when global economic cooperation was desperately needed. As exports plummeted, American farmers and manufacturers suffered even more, while global economies—already fragile—contracted further. This protectionist policy deepened the economic downturn worldwide, turning a severe recession into a prolonged and global depression.

Let's hope and pray it's not deja vu all over again.
 
Bray123 said:
Why anyone would think that the guy who doesn't pay taxes & set up a charity just so he could steal from it, wouldn't find a way of profiting from higher taxes on everyone else defeats me.
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Well... New oligarchs of our time, the tech billionaires - they seem to believe him.🤷🏼‍♀️
 
Heard a talking head this morning say that companies like Target may keep many tariffed goods at the same price to appease the consumer and felon but increase the cost of other items to offset the cost -- fucking over the consumer while still appeasing the felon.
 
DeluxAuto said:
Heard a talking head this morning say that companies like Target may keep many tariffed goods at the same price to appease the consumer and felon but increase the cost of other items to offset the cost -- fucking over the consumer while still appeasing the felon.
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Someone needs to pay... Tariffs are not cheap.

How the individual stores are going to do that math, that is the interesting thing in this situation.

I mean, being Danish - I do feel the president's and his administration's disdain and annoyance with us.
Somehow, I imagine it must be terrifying to get on his bad side, if you actually live in the States.

It is going to be 4 very, very long years.
 
RobDownSouth said:
Liberation indeed!

The president is pleased with Elon Musk, but the decision comes as the tech mogul increasingly looks like a political liability.​

It appears the comedy duo of 'Elon and the Felon' has run its course...
​
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Maybe Musk will refuse to go? He paid $280 million for his chance to run the government, and I’m sure he wants his money’s worth.

And he installed his DOGE bros at the top of all the departments. They might laugh at Trump’s suggestion to leave.
 
Is tariff revenue supposed to make up for a cut in the income tax?

The president might (or might not) have the authority to impose tariffs unilaterally, but only Congress can change the income tax, and they haven't, yet.
 
Trump keeps changing his mind about tariffs -- so where do things stand now, on Liberation Day? Are the tariffs in place, or are they not?
 
Politruk said:
Trump keeps changing his mind about tariffs -- so where do things stand now, on Liberation Day? Are the tariffs in place, or are they not?
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He’s on tv now bloviating about how the US has been getting ripped off by other countries for decades and past presidents didn’t do there job but he’s MAGA and how great things will be and the tariffs will begin at midnight.
 
Just curious but can anyone of you critics tell me why it's okay for other countries to impose obscene levels of tariffs on American goods and wrong for America to impose reciprocal tariffs?

"Reciprocal" meaning that if they drop their tariffs on American goods then we will drop our tariffs on their goods.

Seems fair to me.
 
Baztrachian said:
Just curious but can anyone of you critics tell me why it's okay for other countries to impose obscene levels of tariffs on American goods and wrong for America to impose reciprocal tariffs?

"Reciprocal" meaning that if they drop their tariffs on American goods then we will drop our tariffs on their goods.

Seems fair to me.
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You are confused about who started it. Their tariffs are retaliation for ours.
 
And what ever happened to that USMCA free trade agreement that Trump himself negotiated?
 
Baztrachian said:
Just curious but can anyone of you critics tell me why it's okay for other countries to impose obscene levels of tariffs on American goods and wrong for America to impose reciprocal tariffs?

"Reciprocal" meaning that if they drop their tariffs on American goods then we will drop our tariffs on their goods.

Seems fair to me.
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The new tariffs aren’t entirely reciprocal. Blanket 10% isn’t reciprocal.

Baztrachian said:
No. Canada has had massive tariffs on American dairy products for decades. And that's just one example.

https://brendonbeebe.substack.com/p/history-of-tariffs-between-canada
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Trump negotiated and signed the existing trade agreement with Canada that includes those dairy tariffs (which you are oversimplifying anyway). Are you saying Trump negotiated a bad deal?
 
MajorRewrite said:
Trump negotiated and signed the existing trade agreement with Canada that includes those dairy tariffs (which you are oversimplifying anyway). Are you saying Trump negotiated a bad deal?
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Yep. I am. And now that's getting fixed.
 
MajorRewrite said:
Trump negotiated and signed the existing trade agreement with Canada that includes those dairy tariffs (which you are oversimplifying anyway). Are you saying Trump negotiated a bad deal?
Click to expand...
Say, what ever happened to that USMCA? Is it still in force?
 
Trump just announced one of the largest tax increases in US history, and some MAGAs are celebrating.

Stable geniuses. 😆
 
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