Trump Tariffs

[Last hard class]

The new Trump tariffs have certainly caused some excitement this week. And some pretty funny Penguin jokes. Not sure if the tariffs will work as desired, time will tell.
A couple of thoughts on his escalating trade war:

All other countries now suck! To do my part. I got rid of the Canada Ginger Ale that was sitting in the garage for the last 10 years. Also, not drinking any more Moosehead or that chihuahua piss Corona Light until further notice. Going to continue not watching any NBA games. But now it’s because there might be some euro trash playing.

The March jobs report came out higher. So that proves the tariffs are already working.

6 trillion wiped out. Watched the news and the talking head said she didn’t care about her 401k. And neither did any of the other rich people she knew. Hmmm… Luckily, a drop in the stock market only affects Lefties who don’t like Tesla anymore and poor people. No harm no foul.

If millions of manufacturing jobs come roaring back what will happen to all the robots that Elon is building? Maybe if they have a bunch of robot kids everything will equal out.

The left absolutely owns the cultural train wreck that was ruining this country. And Trump has hit that shit with a giant baseball bat. Providing he can keep his minions quiet, Only one thing will keep his big Cheeto head off Mount Rushmore. F&%king around with the economy.

Trump may go down in history as
Wile E. Coyote – Super genius.
Or
The Emperor that had no clothes.
(Written by a Dane no less)


LHC

[mojaveman]

Like what he's doing and hope his health holds out. In addition to a President should our government have a CEO like so many municipalities do? He's trying to run everything like an efficient business. Bad thing is it that it can all change again after four years.

[glebo]

If things go the way they "should", then hopefully in four yrs we continue.
That's the good side....and downside of elections. If it's good and we Americans seem to think so, we can vote the same goodness in. If not, ya get the boot.
I am optimistic on how things are going. Maybe not monetarily right at the moment with the stock market, but those are only numbers, I don't need my 401 right now, hope fully I won't and what's left (hopefully higher) will be left for my wife and/or kids.
Hopefully things work out according to plan, if not we have choices in four yrs.
I certainly hope it's a choice to carry on the work that is being done.
Not only economically, but socially as well..

[GratefulCitizen]

There may be more pieces moving than just domestic industry, trade relations, and such.

$9 trillion in national debt is due to mature in 2025.
The tariff war will be unpredictable.

When investment returns are unpredictable, money flees to safety.
This may be a strategy to refinance the national debt more cheaply.

[Badger52]

Originally Posted by GratefulCitizen

When investment returns are unpredictable, money flees to safety.
This may be a strategy to refinance the national debt more cheaply.

That's an interesting thought.

[MR2]

He's right you know...

[bblhead672]

Trump's Tariffs Shake the World: 50 Countries Already Fold as 'America First' Strategy Takes Hold

Nearly just a week, after President Donald Trump’s bold new tariffs took effect, over 50 countries, are already at the negotiating table, signaling that the global economic landscape is shifting in favor of American interests. The ten percent universal tariff on imports and reciprocal tariffs targeting roughly 90 nations are proving to be a wake-up call for the world. Countries that once took advantage of unfair trade practices are now scrambling to strike better deals, understanding that America is no longer willing to play the role of the passive consumer. Trump's "America First" approach is pushing nations to reconsider their trade practices, and it's clear that the President's strategy of economic toughness is beginning to pay off.

[Roguish Lawyer]

I like a lot of what POTUS is doing from a policy standpoint, the tariffs being a big exception, but the execution on all fronts has been amateur hour. This guy is making unforced errors all day long, and it will result in the long-term destruction of any ability to implement conservative policies in this country.

YMMV

[Last hard class]

Originally Posted by GratefulCitizen

When investment returns are unpredictable, money flees to safety.
This may be a strategy to refinance the national debt more cheaply.

Not sure that played out the way they anticipated. No worries. The way this is going, money will definitely flee to safety by the 3rd quarter.

In not unrelated news, The current cost to the Trump tax cut extensions is estimated at 5.7 Trillion.

The go to economic expert here has always been Thomas Sowell. But he's not a fan of tariffs. So I will quote another verified expert on modern trade tariffs. "I love it when a plan comes together" No, not Hannibal Smith. I'm talking about Ron Vara.

There is a very easy way to fix the U.S. trade deficits problem. Instead of some touring socialists yapping about increasing the minimum wage. Someone in Congress should propose a cap on the maximum wage. I figure, if we capped the maximum hourly wage at $4.50 per hour, overall consumption of cheap China shit would be drastically reduced and trade deficits would come into balance before the midterms. We already have forever renter communities. This is the next logical step.

It's all heading to the promised land: Dream Cities.



LHC

[Badger52]

Originally Posted by Last hard class

In not unrelated news, The current cost to the Trump tax cut extensions is estimated at 5.7 Trillion.

I get jammed up with terminology sometimes. Seems to me it's only a "cost" if one accepts the premise that the previous rate was appropriate. Or it wouldn't be a cost if spending were cut. No one has a bill that's suddenly going to shave $5.7T tomorrow, I get that. But a few billion here & there...

[1stindoor]

Originally Posted by Badger52

.... But a few billion here & there...

I'll be honest, I'm happy with a few million here and a few million there...it's a much needed start.

[glebo]

Well at least someone is taking a look at all these programs/policies or whatever. Most, if not all politicians state while running for office they'll "fix" the budget and cut unwanted spending....hasn't happened yet. Until now no one had the gonads to try and look for unwanted spending, don't want to upset the apple cart and all.
They may not cut and slash like it sounds, but they are definitely finding waste and fraud.
As stated earlier, I'm happy they're taking a look at things and trimming/cutting as necessary..

[WarriorDiplomat]

The Tariff conversation is annoying to get involved with.

These countries around the world Tariff American products and hinder the fair trade goal. What is aggravating are people quoting great economist and politicians to bolster the anti Tariff (really anti Trump) argument. Why is it so hard to understand the stupid argument that tariffs are bad seems to be one direction...i.e. bad when Trump does it but fair when the world does it to us. It seems that the American blue collar steel, coal, auto industries have just enough time separated from their heyday for Americans to have forgotten how resources rich we are and how much we produced. Unlike any other country there is not a country as resource balanced wealthy as we are. Globalism has turned off American resourcefulness and independence and watched crooked politicians barter away that independence. The man has been in office less than 6 months and he has gone directly into solving the trade deficits killing our economy, under status quo politicians we went from producers to service dominated. Do we still have a generation of workers to fulfill bringing jobs back? Well with the trend to smaller families we will need immigrants to provide workers because so many young Americans refuse to labor for the "man".

It's a simple strategy, remove tariffs or lose market share, competition is our friend because of untapped global economy ready and willing to make a deal. Let's not forget how tariffs work and who benefits when all these countries tax out exports/imports the politicians of importing countries pockets that money their own people pay the cost and American products are priced out of competitive markets

M.T.F.A. make trade fair again.

[Badger52]

India has apparently decided to pick sides and has gone with Trump.
CTH link here.
The additional link at the bottom goes to the MSN-hosted link for the Kenya Times article. "Make India Great Again." lol

German Automakers Smartly Shift
CTH link here. More goodness to be coming out of Tuscaloosa and Spartanburg it looks like. Not an immediate effect but ya gotta start somewhere and this is a serious commitment out of some serious companies.

[Badger52]

Footnote to the announcement above of India's going with the US. RT today quotes an article from the Indian Ministry of Communications that iPhones will be getting built in India, not China.

On Tuesday, Indian Telecommunications Minister Jyotiraditya Scindia said Apple “has decided to source and produce all its mobile phones in India in the years to come.”

Apple CEO Tim Cook reportedly confirmed the production shift during the company’s quarterly earnings call, saying “the majority of iPhones sold in the US will have India as their country of origin.”

With more than 60 million iPhones expected to be sold annually in the US by end-2026, Apple would need to double production in India, according to media reports. The company assembled $22 billion worth of devices there in the past year, a 60% increase that brought India’s share to about 20% of global iPhone output. China, however, still accounts for roughly 80% of Apple’s production capacity.

iPhone shipments from India to the US reportedly picked up ahead of Trump’s worldwide “reciprocal” tariffs, which took effect on April 5. Apple flew five planeloads of iPhones and other devices from India to the US over three days in late March, the Times of India reported.

Apple lost more than $700 billion in market value in the four days following Trump’s tariff announcement. The stock recovered some ground after he offered a temporary reprieve for consumer electronics made in China. The devices are still subject to a separate 20% tax on all Chinese goods. India was hit with a 26% tariff, which is now on hold while it negotiates a trade deal with Washington.

Trump says his tariff campaign is part of a broader effort to revive US manufacturing and bring jobs back home. The measures have been paused until July while the administration seeks bilateral agreements.

Indian Trade Minister Piyush Goyal said on Tuesday the two sides were making “very good” progress and expected to finalize a deal soon.