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I can't wait for Trump to come up with the brilliant, never before thought of "just print more money."
As an American, I am just hoping Trump doesn't learn any additional economic terms. I keep expecting him to try to replace our federal income tax with a VAT.
Dear Australia, please sanction the shit out of us. We deserve it. Sorry we are so terrible.
VAT has tax in the name, and it goes on a receipt. It would be harder to tell people other countries are paying for it
I think the rest of the world has 5 billion total. All the rich assholes have 3 trillion total.
the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.
I will never understand how Americans developed a taste for his constant hyperbolic bullshit.
Really? Tariffs? Rehashing pre-WW1 economics theories is the greatest thing America has ever done? Greater than abolishing slavery? Greater than the civil rights act? Greater than the moon landings? Greater than the invention of the transistor?
Trump is at a point where nobody bats an eye to this. Trying to hold him accountable for literally anything he says is futile, and half the country things that quality is a good thing and they enable it.
You have a section of America that wants more manufacturing to return to the US, and they see tarrifs as a way to make more production domestic. Those people haven't thought through that that will cause a lot of inflation and will heavily impact a lot of the manufacturing industry that the US still has.
Even if this plan succeeds, it's not like the countries you just tariffed are just going to allow American exports into their markets. It will shrink the whole economy AND cause inflation at the same time. Economics fear this state for a reason.
If they don't, Trump will do what he did to us here in Canada today and double the tariffs.
What do you mean? America is so strong and powerful, these countries would never fight back.
/s
They forget they don't have the production plants or skilled labor for all this stuff they plan to build. Hell, they won't even have unskilled labor after they finish deporting everyone.
OK, so even if they do build it all and somehow get it working, nobody is going to buy any of it because they pissed the world off.
It isn't a well thought out plan.
Those people are, sadly, too shortsighted to realize that they can't have their cake and eat it too. They want domestic manufacturing back, but they turn around and buy cheap Chinese shit from Walmart for a fraction of what it would cost if all manufacturing were here instead. Those two things are pretty much mutually exclusive.
If it came between Trump getting his way or big business getting their way, I'm betting on the big box retailers lobbying to stop Trump from doing anything that might dig into their profits. Rich folk aren't ideologues, they're just greedy assholes.
I fucking hate this. I fucking hate every day in this countrymen I FUCKEN HATE YOU TRUMP
“We’re going to take in hundreds of billions of dollars in tariffs"
...from ourselves.
Trump still doesn't understand what tariffs are. You'd think the moron would have Wikipedia'ed tariffs at some point after talking about them for so damn long.
My theory is he fully understands tariffs, but it’s a convenient way to siphon money off from Americans into a coffer he can steal that doesn’t require the IRS.
.. and, he understands that every new tariff threat tanks the US stock market briefly, so he & his masters can sell first, 'buy the dip' a day or so later and make quick profits as the market recovers. Blatant manipulation.
... up until it stops being a "dip". I don't think these people care about having more. I think they want everyone else to have less.
Yup. And they're something he controlls, so when a company or country wants to get an exemption to his tarrifs so they can be more competitive they need to grovel.
It's an extortion racket, mixed with a poor tax, mixed with insider trading. Honestly as far as Trump grifts go, this one is pretty impressive. Just don't know how long he'll get away with it before his followers start to feel the pain.
it is a grift, he knows his supporters are pretty stupid, that he has stated in the past. and he will probably be selling them something down the line.
He’s never stopped. Bibles, those weird digital fantasy representations of himself, coins…
I love browsing estate auctions. Maybe that makes me a voyeur of sorts, either way, the amount of Trump coins that show up, consistently, since 2021 or so shows how much they’re buying.
What metal (if they even are metal) are they?
I can say I pay that much attention after seeing his face on it, gold and or silver colored.
I actually think I know how he plans on "legally" stealing the money for himself too.
Remember that sovereign wealth fund? I would bet dollars to donuts that he is going to funnel the tariff money into that. Then he uses that money to buy crypto, which pumps up the whole market including his coin. Then they sell off some of there crypto assets, rinse and repeat.
Bingo, he’s robbing from the poor to give to himself.
I noticed this phrasing as well. Our government is taking this money from the poorest half of its citizens, and Trump either doesn’t know that or is intentionally clouding the waters for those who still dont know what tariffs are.
so, he's gonna put a 10-15% tariff on all imports? everything?
that would do just one thing, get every other country trading ONLY with each other---and NOT the u.s.
I mean, people will still trade with the US, but no exporter is going to eat those tariffs out of the goodness of their heart or fear of the Orange Menace, so prices in the US will go up, likely a bit more than the amount of the tariffs as suddenly volumes are lower and administrative overhead is higher. Then the US economy slows in a way that will not rebound quickly, and investment in the US becomes much less attractive due to low customer buying power and the inability to move goods freely. All of this of course reduces the amount actually collected in tariffs. Reduced economic activity may ultimately have positive knock-on effects for many, but the direct economic impact worldwide, distributed, will definitely be negative.
I don't see a single way this is good for anyone, aside from those who can directly benefit from access to the levers of power and/or just want to watch the country burn (or at a minimum, smolder).
Wow I'm so so glad we fucked over France for a submarine deal. We're definitely going to get those submarines right? For no more than the promised amount? I'm feeling super confident that fucking over France was a clever thing to do.
Honestly it sounds like both of them were shit deals, but that's what we get for living in plutocratic dictatorships masquerading as "democracy".
He was never going to give us an exemption and anyone believing he will is delusional, like Trump.
I don't speak for all Australians, but fuck Trump.
Maybe learning Mandarin wouldn't wouldn't so bad
If you have to chose between Mango Mussolini and Winnie the Pooh. Winnie starts to sound better all the time.
At least the CCP values education, and is basically the most highly educated regime in all of history.
America is just a religiously mentally ill idiocracy that aggrandizes pure narcissism and individualism. It's a dead end.
Finally! The American kangaroo farmers were really hurting because of unfair competition from Australia.
No amount of protectionism will ever dent our dominance of the spider market.
Australia can keep their nightmare spiders thankyouverymuch.
But if another country wanted to then I am all for it. Yours Truly the Australian Arachnophobiac.
ITT: people still don’t get that all of his actions are taken to please his owner.
"Think how stupid your average ~~American~~ person is, and then realize half the population is dumber than that."
Trump is very clearly there to line his own pockets with these tariffs. Do they really need to cut all these federal jobs with all that new federal income?
This is just a way to plunge the market value so he and his cronies can buy cheaper stocks.
Plunge the market so they can do options on the way down. Then with the profits but the stocks at a cheaper price. Also do options on the way up.
And buy out bankrupt companies and liquidated assets.
Time to shut down Pine Gap
Especially now that
The US have told the Five Eyes to stop sharing intelligence with Ukraine - something I suspect the other Four Eyes may have a moral problem with, and
The US is obviously compromised. Sharing intelligence with them is akin to just handing that intelligence straight to the "enemy", whoever that may be these days.
He's like someone rocking back and forth in the corner of a padded room repeating to himself that "the tariffs will save the economy" and "the tariffs will make us billions" over and over again while those tariffs, especially the way he tries to use them, are the very thing that is destroying the economy.
This man will cling to his delusions that the problems their economy is having right now are caused by his predecessors and keep doubling down in doing the very thing that is sinking the economy, completely incapable of admitting fault, until his entourage finally turns on him.
I'm giving him another month if the stocks continue tanking at the rate they currently are. The collapse has sped up today.
“Common what?”
“Sir, it means the Commonwealth of…”
“Fucking get it.”
So the US recession is not coming fast enough then.
Civil war when? When will people take to the streets to get rid of this guy who is making their country even worse than it was before?