Steel and aluminum tariffs... [Archive] - Page 13

velik_m

05-19-2025, 11:51 PM

Chinese exporters are offering sweet deals to U.S. businesses. They often come wrapped in fraud

...

Chinese exporters, often through freight forwarders — companies that handle the logistics of shipping merchandise — understate the value of goods or mislabel them, often both, in the shipping documents to draw lesser duties.

Shipments are then routed through shell companies, registered under names of foreign entities or individuals, that act as “importers of record,” which the U.S. government deems responsible for the accuracy of customs filings and all applicable duties.

Importers are required to secure a minimum $50,000 customs bond from U.S. surety providers as a guarantee to the government that they will pay tariffs. When they fail to settle the tariffs on time, the bond covers the duties. Once the bond has been utilized, often these shell companies default and cease operations, only to quickly set up a new entity — and the cycle repeats.

“Often these companies don’t bother to file bankruptcy. They simply turn off the phone, close email accounts, and choose whatever mailing address they have [to open a new firm],” said David Forgue, partner at Chicago-based law firm Barnes, Richardson & Colburn, making it difficult for the surety to chase them for tariff reimbursement.

This tactic is not new. “The incentive to underreport always exists while tariffs are in place,″ said Joseph Briggs, managing director at Goldman Sachs. Now, it has gained greater momentum, as businesses scramble to sidestep the new levies imposed by U.S. President Donald Trump in his second term.

...

Trump’s tariff policy is a giant stress test for U.S. Customs and Border Protection, or CBP — the government body tasked with collecting tariffs and policing imports.

“There’s a massive volume of trade coming in from China and other countries ... there just simply wouldn’t be enough resources to be able to to screen them all,” said Alex Capri, a former U.S. customs officer in Los Angeles.

As the CBP inspect only a fraction of incoming cargos, a “laser-focused” cargo selectivity system that sorts high-risk shipments and determine the type of examination required becomes increasingly crucial in curbing tariff evasion through under-invoicing and mislabeling, said Capri.

Underscoring how enforcing tariffs could be tricky, Trump had to delay the repeal of duty-free imports of low-cost packages from China to put enforcement procedures and systems in place.

In April, there was a 10-hour “glitch” in the customs system that prevented importers from inputting a code that would have exempted freight already on water from being subjected to higher duties.

Illicit transshipment, where goods are routed through a third-country to conceal their Chinese origin, has also been used to dodge tariffs at the risk of fines and jail time.

A Goldman Sachs’ report released in January estimated that the tariffs Trump imposed on China during his first term saw evasions worth $110 billion to $130 billion in 2023, with understating value and mislabeling each contributing $40 billion and rerouting accounting for $30 billion to $50 billion.

In comparison, the total duty, taxes and fees collected by CBP in fiscal 2023 was $92.3 billion, according to government data.
...

https://www.cnbc.com/2025/05/20/china-us-exporters-undervalue-cargo-dodge-us-tariffs-.html

koriwhat

05-20-2025, 12:05 PM

nah, you're just incoherent

Not at all Adam.

Winehole23

05-20-2025, 12:57 PM

Not at all Adam.who's Adam?

velik_m

05-20-2025, 01:14 PM

Truce or not, Chinese firms are looking for alternatives to the U.S.

The intense trade war with the U.S. has left lasting scars on Chinese exporters with many looking to diversify away from the U.S., despite the temporary tariff reprieves, a private survey found.

Based on a poll of 4,500 exporters across several major economies, trade insurer Allianz Trade found that 95% of Chinese exporters surveyed are planning on, if not already, doubling down on exporting to markets outside the U.S. for their goods.

The U.S.-China “decoupling” remains a likely scenario over the medium term, the survey said, as Chinese exporters look to pivot away from the U.S. and American firms accelerate efforts to shift production out of China.

An increasing number of firms surveyed are expecting a dent on export turnover this year due to the double-digit U.S. tariffs, the report said.

Even after the temporary tariff reduction following Beijing-Washington’s deal in Switzerland earlier this month, the U.S. trade-weighted tariff rate on Chinese goods remained at 39%, well above the 13% rate applied before the second Trump administration, according to Allianz Trade estimates.

...

https://www.cnbc.com/2025/05/20/chinese-businesses-are-moving-away-from-the-us-despite-trade-truce.html

koriwhat

05-20-2025, 06:15 PM

who's Adam?

Damn bro, your brain cells only work for copy&paste only and nothing else is seems.

Winehole23

05-20-2025, 10:37 PM

(if you can't say what you mean I can't either)

velik_m

05-20-2025, 11:46 PM

Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports

May 20 (Reuters) - Semiconductor supplier Wolfspeed (WOLF.N), opens new tab is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Shares of the company fell over 57% in extended trading.

Wolfspeed has been grappling with sluggish demand in industrial and automotive markets and tariff-induced uncertainty.
The company is looking to file for Chapter 11 bankruptcy that would have the support of a majority of its creditors, after rejecting several out-of-court debt restructuring proposals from creditors, the report said.

...

https://www.reuters.com/business/wolfspeed-prepares-file-bankruptcy-within-weeks-wsj-reports-2025-05-20/

TSA

05-21-2025, 12:43 PM

Why would anybody plan to move a manufacturing plant which will take years to become operation when tariffs policies are improvised on a day to day basis

https://x.com/JohnDeere/status/1923033147408585132

:lol

Blake

05-21-2025, 01:35 PM

Why is that question funny? It would be stupid to open a plant here just because of Trump's tariffs that waiver from week to week.

If they say they're opening a plant here is because they were probably already planning on it or it's cost effective for them in the long run. Anything else is just lip service to Trump

ChumpDumper

05-21-2025, 02:10 PM

https://x.com/JohnDeere/status/1923033147408585132

:lol

Wow, look at all the stuff they did during the time Trump wasn't in office.

Winehole23

05-22-2025, 07:14 AM

loss of confidence, no flight to safety in US equities

The U.S. Treasury Department saw soft demand for a $16 billion sale of 20-year bonds on Wednesday with investors worried about the country's increasing debt burden as Congress wrangles with a tax and spending bill that is expected to worsen the fiscal outlook.

The poorly received auction, which saw stocks and the dollar sell off while U.S. Treasury yields rose, shows intensified investor worries about the country's ballooning debt that could spur bond market vigilantes (https://www.reuters.com/world/us/moodys-downgrade-intensifies-investor-worry-about-us-fiscal-path-2025-05-18/) who want more fiscal restraint from Washington.
https://www.reuters.com/business/tepid-demand-us-treasury-auction-shows-investor-jitters-about-tax-bill-deficit-2025-05-21/

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:dmopowukpuxjkjvvnsi4srit/bafkreiet63rhwuobaal7i6qwvzntzsz6snmu4acje6wa7ywxv sx42eseiq@jpeg

Winehole23

05-22-2025, 07:15 AM

Simons said while the auction was "far from a disaster," it showed there was not going to be a reversal in the sell-off at the long end of the yield curve anytime soon.

George Cipolloni, portfolio manager at Penn Mutual Asset Management, said there were concerns regarding U.S. budget deficits.

"(Long-term) yields of 5% with another auction not doing well is not a sign people are feeling good about the U.S. economy,” said Cipolloni, who said he was underweight bonds.

velik_m

05-22-2025, 01:37 PM

Walmart to Cut 1,500 Corporate Jobs in Restructuring (https://www.wsj.com/business/retail/walmart-layoffs-reorganization-2abd46eb)

Blake

05-22-2025, 05:18 PM

Walmart to Cut 1,500 Corporate Jobs in Restructuring (https://www.wsj.com/business/retail/walmart-layoffs-reorganization-2abd46eb)

Now they can all go get those desirable factory jobs that are coming to America

velik_m

05-23-2025, 12:18 AM

U.S., China hold first call since Geneva meeting, signaling progress in trade talks

The U.S. and China agreed to keep lines of communication open, following a call between senior officials Thursday, signaling continued high-level engagement as both sides work toward a broader deal.

Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary of State Christopher Landau exchanged views on a wide range of key issues during the call, both sides said in closely aligned statements released Friday, without specifying whether tariffs were among the topics discussed.

While the call may not indicate a breakthrough in the ongoing trade talks, it is a “positive sign” that Beijing now knows who to talk to on the U.S. side, said Dan Wang, China director at political risk consultancy Eurasia Group, who added that “the communication channel established in the Geneva talks is working.”

Following the high-level talks in Geneva, Switzerland, earlier this month, both sides issued a rare joint statement to temporarily lower most tariffs on each other’s goods, while working toward a broader agreement.

...

https://www.cnbc.com/2025/05/23/china-says-us-dialogue-to-continue-as-beijing-hints-trade-talks-are-advancing.html

"Progress" :lol

Winehole23

05-23-2025, 07:19 AM

HAD DINNER WITH SOME BRIBERY BROS LAST NIGHT, DOING SOME MARKET MANIPULATION THIS MORNING

https://cdn.bsky.app/img/feed_fullsize/plain/did:plc:4llrhdclvdlmmynkwsmg5tdc/bafkreidsfmb6a3csewijedtjz5kibuafljfr54zfwpspikz5f h7kcrsyny@jpeg

Winehole23

05-23-2025, 07:25 AM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4kshoaytrzhgsziro6ywozul/bafkreibhbefhztn2ocila725oloweoahfeudzjyqae62mzl33 kadkf235i@jpeg

ChumpDumper

05-23-2025, 09:17 AM

"recommending"?

Winehole23

05-23-2025, 09:28 AM

"recommending"?at some point Trump might ask Congress to regularize his policy diktats

Winehole23

05-23-2025, 09:31 AM

Trumplandia is crapifying BLS so we can't measure the ways Trump is fucking up the supply chain with arbitrary tariffs

No data, no problem!

BLS to Discontinue Selected PPIsWith the release of Producer Price Index (PPI) data for July 2025 on August 14, 2025, BLS will end calculation and publication of approximately 350 indexes. The elimination of these indexes includes data from PPI industry, commodity, Final Demand-Intermediate Demand (FD-ID), and special index classifications.
https://www.bls.gov/ppi/notices/2025/bls-to-discontinue-selected-ppis.htm

ChumpDumper

05-23-2025, 02:24 PM

Oh.

1925961253387735195

https://x.com/American_Bridge/status/1925961253387735195

Winehole23

05-23-2025, 02:25 PM

the China tariff climbdown doesn't seem to have revived shipping yet

https://cdn.bsky.app/img/feed_fullsize/plain/did:plc:z6rujpf4u56jfie7aqic2nfg/bafkreiehjv65mp5prskaw3xtoki4byijbz6l2blf3eev3d5fg c4crt2feu@jpeg

Winehole23

05-23-2025, 02:46 PM

All your cellphones will cost more now...maybe

https://www.inquisitr.com/wp-content/uploads/2025/05/Donald-Trumps-bald-spot.jpg

It would be also Samsung and anybody that makes that product, otherwise it wouldn't be fair. So anybody that makes that product. And that'll start on I guess the end of June ... when they build the plant here there's no tariff.

ChumpDumper

05-23-2025, 03:00 PM

"I guess"

:lmao fucking morons

Blake

05-23-2025, 03:14 PM

June 1st! Or end of June maybe! 50%! Maybe 25% sounds good!

Thank you for your attention to this matter!!!

velik_m

05-23-2025, 03:26 PM

Trump calls for 50% tariff on EU, says he’s ‘not looking for a deal’ with bloc

...
Trump has long accused Europe of taking unfair advantage of the U.S. through trade. He announced a blanket 20% tariff on the EU on April 2 as part of his “reciprocal” tariff plan, though he quickly revised that duty down to 10% for 90 days.

Europe is also dealing with Trump’s sector-specific tariffs, including a 25% levy on all steel and aluminum imports.

“To go to 10% was going to be the highest tariff rate that we had on the world in 90 years. To go to 50% is a completely different order of magnitude,” Chicago Fed President Austan Goolsbee said Friday morning on CNBC’s “Squawk Box.”

“If they’re putting in place tariffs that have a stagflationary impact, which is to say they slowed down output by raising the cost of production while also raising prices, then that’s the Central Bank’s worst situation,” Goolsbee said

https://www.cnbc.com/2025/05/23/trump-recommends-50percent-tariff-on-european-union-starting-june-1.html

Winehole23

05-26-2025, 07:45 AM

it is Trump's privilege to back down again

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:x4twekkcqqocum73hqn46aib/bafkreibw3jc5tor2voedhjx4ni7f3xcfwysqyc2gx43ruwvze ctzst6rxu@jpeg

Blake

05-26-2025, 10:52 AM

it is Trump's privilege to back down again

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:x4twekkcqqocum73hqn46aib/bafkreibw3jc5tor2voedhjx4ni7f3xcfwysqyc2gx43ruwvze ctzst6rxu@jpeg

Why does he keep signing off with "thank you for your attention to this matter!"

koriwhat

05-26-2025, 11:59 AM

it is Trump's privilege to back down again

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:x4twekkcqqocum73hqn46aib/bafkreibw3jc5tor2voedhjx4ni7f3xcfwysqyc2gx43ruwvze ctzst6rxu@jpeg

So you do want tariffs then? You're weird... when are you packing your bags and leaving already, leftist?

velik_m

05-26-2025, 12:18 PM

Canada's crude oil shift to China schools Trump in unintended consequences

...
What is becoming clear is that commodity markets are adjusting not only to actual measures imposed by the Trump administration, but also to the possibility of future actions, which has created a desire to limit exposure to the United States.

An example of this is seaborne exports of crude oil from Canada, which have shifted away from the United States and towards China, even though Trump backed away from his initial plan to impose a 10% tariff on energy imports from Canada.

For the first time ever Canada exported more seaborne crude to China in April than it did to the United States, showing how market dynamics can move amid the uncertainty created by Trump's trade war.

...
This reflects another dynamic that Trump probably didn't expect, as his sanctions on Venezuelan oil, which like Canadian crude is heavy, reduced the amount of this grade available to U.S. refiners.

This means that Canadian crude is more in demand in the United States, and U.S. refiners are having to pay more.

The rising price for Canadian crude brings into question the view that Canada was far more dependent on the United States than vice versa.

It now seems that the United States is actually quite dependent on Canadian crude, especially if Trump has limited the suitable alternatives with sanctions.

...
China has also effectively halted importing crude from the United States amid the escalation in tariffs imposed by Washington and Beijing since Trump's return.

While those tariffs have been lowered for a 90-day period to allow for talks, China is still imposing a 10% levy on U.S. oil imports, which is high enough to render U.S. oil uncompetitive in China.

No U.S. crude is scheduled to arrive in China in May and June, according to Kpler, while as recently as June last year China imported 417,000 bpd from the United States.

It's not that China is replacing U.S. crude with Canadian, as they are different grades. It's that China is being dynamic in its oil trade, and is finding willing partners such as Canada.

...

https://www.reuters.com/markets/commodities/canadas-crude-oil-shift-china-schools-trump-unintended-consequences-russell-2025-05-22/

velik_m

05-26-2025, 12:21 PM

Businesses are finding a workaround for tariffs — and it’s entirely legal

Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.”

Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties.

For instance, a Chinese manufacturer sells a t-shirt to a Hong Kong vendor for $5. That Hong Kong vendor then sells the t-shirt to a U.S. retailer for $10. That U.S. retailer then sells the t-shirt to consumers for $40.

Under the first sale rule, the U.S. retailer can pay the import duty on the initial $5 price of the good, rather than the vendor’s inflated $10, thus stripping out the cost associated with the middleman’s profit.

“What the rules allow you to do is use that initial sales price from the factory to the vendor to determine the final duty price,” Brian Gleicher, senior lawyer and member at Miller & Chevalier Chartered, told CNBC over the phone.

---

https://www.cnbc.com/2025/05/26/businesses-are-finding-a-tariff-workaround-the-first-sale-rule.html

Winehole23

05-27-2025, 05:39 AM

TACO – “Trump Always Chickens Out.”

Wall Street traders have developed a biting new acronym for a strategy that’s become surprisingly lucrative for President Donald Trump’s whiplash-inducing trade policy: TACO – “Trump Always Chickens Out.”

Reportedly first coined by Financial Times columnist Robert Armstrong, the term has quickly gained traction among investors who are profiting from what they say is a predictable pattern: Trump threatens steep tariffs, the markets plunge, and days later he backs off in a way that prompts a rebound.

The latest example came over the weekend. On Friday, Trump sent markets reeling (https://www.mediaite.com/media/news/trump-blurts-out-new-tariff-bombshell-that-instantly-craters-stock-futures/) by announcing sweeping 50% tariffs on European imports. But by Sunday, the White House abruptly paused the move, citing a fresh round of trade talks. When the markets reopened on Tuesday, stocks surged.

The TACO trade strategy is reportedly being openly embraced by some investors, according to the New York Post (https://nypost.com/2025/05/27/business/dow-soars-more-than-400-points-after-trump-postpones-tariffs-on-eu/). (https://nypost.com/2025/05/27/business/dow-soars-more-than-400-points-after-trump-postpones-tariffs-on-eu/)

“Once he delivers bad news, investors are buying those stocks when they are beaten down waiting for him to chicken out and watching those stocks rebound in value,” said Ted Jenkin, president of Exit Stage Left Advisors, in an interview with the outlet.
https://www.mediaite.com/media/news/taco-wall-street-mocks-trump-with-4-letter-code-to-call-bets-against-him/

ChumpDumper

05-28-2025, 01:09 PM

:lol it's funny because it's true and it's funnier because TACO Trump lost his shit.

1927767446863114302

https://x.com/Acyn/status/1927767446863114302

https://media1.tenor.com/m/jw2mIh5OgHMAAAAC/taco-tuesday-happy.gif

Winehole23

05-28-2025, 08:28 PM

Liberation Day tariffs struck down as beyond the scope of executive powers by the US Court of International Trade, Trumplandia will of course appeal.

it was clear from the get go Trump's trade emergency was pretextual bullshit, glad to see the judiciary reining in a lawless POTUS

A U.S. trade court on Wednesday blocked President Donald Trump's tariffs from going into effect in a sweeping ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buyhttps://www.reuters.com/world/us/us-court-blocks-trumps-liberation-day-tariffs-2025-05-28/

koriwhat

05-28-2025, 08:35 PM

Liberation Day tariffs struck down as beyond the scope of executive powers by the US Court of International Trade, Trumplandia will of course appeal.

it was clear from the get go Trump's trade emergency was pretextual bullshit, glad to see the judiciary reining in a lawless POTUS

https://www.reuters.com/world/us/us-court-blocks-trumps-liberation-day-tariffs-2025-05-28/

Free school loan relief for all! Decree amendments too! :lmao

The left are clowns!

Winehole23

05-28-2025, 08:39 PM

Trump keeps losing in court -- they keep finding his shit illegal

Even Trump judges, there's one in this case. The NYC traffic congestion judge, Liman, is a Trump judge too.

Winehole23

05-28-2025, 09:39 PM

(this is just the IEEPA tariffs, the Section 232 tariffs are still on)

Winehole23

05-28-2025, 09:43 PM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:z6rujpf4u56jfie7aqic2nfg/bafkreigmxadvxknaatne7nuwpyth3f3w2vlhlee56j375nzrx 3prdjf4fi@jpeg

Winehole23

05-29-2025, 06:30 AM

illegal

The President’s assertion of tariff-making authority in the instant case, unbounded as it is by any limitation in duration or scope, exceeds any tariff authority delegated to the President under IEEPA. The Worldwide and Retaliatory tariffs are thus ultra vires and contrary to law.https://storage.courtlistener.com/recap/gov.uscourts.cit.17080/gov.uscourts.cit.17080.55.0.pdf

Winehole23

05-29-2025, 06:31 AM

The court holds for the foregoing reasons that IEEPA does not authorize any of the Worldwide, Retaliatory, or Trafficking Tariff Orders. The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The Trafficking Tariffs fail because they do not deal with the threats set forth in those orders. This conclusion entitles Plaintiffs to judgment as a matter of law; as the court further finds no genuine dispute as to any material fact, summary judgment will enter against the United States. See USCIT R. 56. The challenged Tariff Orders will be vacated and their operation permanently enjoined. There is no question here of narrowly tailored relief; if the challenged Tariff Orders are unlawful as to Plaintiffs they are unlawful as to all.

Winehole23

05-29-2025, 06:47 AM

the real shame -- and the central part of the constitutional crisis other than Trump's illegal and tyrannical actions -- is that the US Congress didn't stand up for itself

velik_m

05-29-2025, 01:50 PM

US economy contracts 0.2% in Q1 on weak spending, record trade drag

The US economy shrank at the start of the year, restrained by weaker consumer spending and an even bigger impact from trade than initially reported.

Gross domestic product decreased at a 0.2 per cent annualized pace in the first quarter, the second estimate from the Bureau of Economic Analysis showed Thursday. That compared with an initially reported 0.3 per cent decline.

The economy’s primary growth engine — consumer spending — advanced 1.2 per cent, down from an initial estimate of 1.8 per cent and the weakest pace in almost two years. Meantime, net exports subtracted nearly 5 percentage points from the GDP calculation, slightly more than the first projection and the largest on record.

The slight upward revision in GDP reflected stronger business investment and a greater accumulation of inventories. Federal government spending wasn’t as much of a drag as originally reported.

GDP figures are revised multiple times as more data become available, enabling the government to fine-tune its estimate. The first projection, released in late April, showed the economy contracted for the first time since 2022. The final estimate is due next month.
...

https://www.business-standard.com/world-news/us-economy-contracts-0-2-in-q1-on-weak-spending-record-trade-drag-125052902017_1.html

Spurs Homer

05-29-2025, 02:57 PM

the real shame -- and the central part of the constitutional crisis other than Trump's illegal and tyrannical actions -- is that the US Congress didn't stand up for itself

Well, its a CULT!

The REAL-REAL shame...

is that dear leader has yet to order the massive kool-aid order to guzzle the poison- to his cultists -so we can have mass funerals for 33 percent of the country and then - and only then....can we;

MAGA!

DarrinS

05-29-2025, 08:57 PM

Well, its a CULT!

The REAL-REAL shame...

is that dear leader has yet to order the massive kool-aid order to guzzle the poison- to his cultists -so we can have mass funerals for 33 percent of the country and then - and only then....can we;

MAGA!

You want a majority of the country to die. Nice

Knoxxx

05-29-2025, 11:35 PM

You want a majority of the country to die. Nice

What school learned you that 33% was a majority?

Spurs Homer

05-29-2025, 11:35 PM

You want a majority of the country to die. Nice

The 67% of us left will send thoughts and prayers…no worries!

Knoxxx

05-29-2025, 11:38 PM

The 67% of us left will send thoughts and prayers…no worries!

I was hoping for a zombie apocalypse that only targeted red hats. But if the zombies only were the type that ate brains I guess they’d all starve.

Winehole23

05-30-2025, 08:48 AM

Trump negs the guys who shepherded his Supreme Court supermajority, because one of his own appointees ruled against his bullshit tariffs

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:t6ubj2wlhc34awzcymh3qpur/bafkreidup3xtzrhwsswlm4cvgfmwpllihqalglowdknxmctkn ppv67qnfi@jpeg

Winehole23

05-30-2025, 08:48 AM

Trump is relentlessly petty and whining

Winehole23

05-30-2025, 08:52 AM

I MUST BE ALLOWED TO DO WHATEVER I WANT OR THE COUNTRY IS LOST

https://cdn.bsky.app/img/feed_fullsize/plain/did:plc:qqixzm5pwprzdnkbh2hglpax/bafkreidzp3bc2mpttjquvqrndvw5obeauxrj5bd4hx2or466x 7r4eyjds4@jpeg

velik_m

05-31-2025, 01:52 AM

Trump says U.S. will double steel tariffs to 50%

President Donald Trump told U.S. steelworkers on Friday that he will double tariffs on steel imports to 50%.

“We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America,” Trump said during remarks at U.S. Steel’s Irvin Works in West Mifflin, Pennsylvania. The president said the steep tariffs would “further secure the steel industry.”

“At 25%, they can sort of get over that fence,” Trump said. “At 50%, they can no longer get over the fence.”

The new import duties will start June 4, the president posted on Truth Social.
...

https://www.cnbc.com/2025/05/30/trump-rally-us-steel-nippon-deal.html

ChumpDumper

05-31-2025, 02:15 AM

https://www.cnbc.com/2025/05/30/trump-rally-us-steel-nippon-deal.html

Make Japan Great Again

velik_m

05-31-2025, 02:42 PM

OPEC+ oil producers stick to their guns with another big hike for July

The world’s largest group of oil producers, OPEC+, stuck to its guns on Saturday with another big increase of 411,000 barrels per day for July as it looks to wrestle back market share and punish over-producers.

Having spent years curbing production — more than 5 million barrels a day (bpd) or 5% of world demand — eight OPEC+ countries made a modest output increase in April before tripling it for May, June, and now July.

U.S. crude futures fell Friday due to fears that OPEC+ would boost oil output for July beyond previous forecasts.

Brent crude futures were down by 22 cents, or 0.34%, at $63.93 a barrel. U.S. West Texas Intermediate crude was last down 21 cents, or 0.34%, at $60.73 a barrel, having earlier dropped more than $1 a barrel.

OPEC+ members are spurring production despite the extra supply weighing on crude prices as group leaders Saudi Arabia and Russia seek to win back market share as well as punish over-producing allies such as Iraq and Kazakhstan.
...

https://www.cnbc.com/2025/05/31/opec-july-oil-output.html

DarrinS

05-31-2025, 10:38 PM

I just keep getting wealthier. Ho hum

ChumpDumper

05-31-2025, 11:19 PM

Black pilled Darrin is content to watch the world burn as long as he has a pool to talk about. Ho hum.

Blake

06-02-2025, 01:34 PM

Ho hum

Also Darrin during covid deaths

TSA

06-02-2025, 02:07 PM

https://x.com/QuantusInsights/status/1929607620584726740

ChumpDumper

06-02-2025, 02:13 PM

https://x.com/QuantusInsights/status/1929607620584726740

Is this what tariffs are for?

What is the point of all this?

Putting off importing at higher prices after stockpiling the shit out of goods for a month?:lol

TSA

06-02-2025, 02:20 PM

ChumpDumper

06-02-2025, 02:27 PM

It's good to demand things.

velik_m

06-02-2025, 02:38 PM

US retail giants pushing Chinese suppliers to shoulder up to 66% of tariff costs

American retailers – under pressure at home to ‘eat the tariffs’ – are now demanding that Chinese producers split the cost of the levies

https://www.scmp.com/economy/china-economy/article/3312482/us-retail-giants-pushing-chinese-suppliers-shoulder-66-tariff-costs

Sure, maybe they Chinese companies will start paying US firms, so they can sell them stuff. That's how trade works. right? The sellers pays the buyer, otherwise they're ripping them off.

DMX7

06-02-2025, 07:18 PM

Sure, maybe they Chinese companies will start paying US firms, so they can sell them stuff. That's how trade works. right? The sellers pays the buyer, otherwise they're ripping them off.

No, but some will simply charge less to supply US firms. You can't be serious.

Blake

06-02-2025, 07:29 PM

No, but some will simply charge less to supply US firms. You can't be serious.

Lol "some will simply charge less to supply to US firms".

ChumpDumper

06-02-2025, 08:11 PM

No, but some will simply charge less to supply US firms.Why?

Blake

06-02-2025, 08:36 PM

Why?

Because that's the middle of the road both sides guy response

DMX7

06-02-2025, 09:34 PM

Why?

Because otherwise some may lose the business altogether. Accepting lower profit margins is the best of two bad choices for some suppliers.

ChumpDumper

06-02-2025, 10:05 PM

Because otherwise some may lose the business altogether. Accepting lower profit margins is the best of two bad choices for some suppliers.This is capitalism?

DMX7

06-02-2025, 11:04 PM

This is capitalism?

Pretty much. Walmart is a business notorious for playing hardball with suppliers when they can.

ChumpDumper

06-02-2025, 11:18 PM

Pretty much. Walmart is a business notorious for playing hardball with suppliers when they can.

Doesn't sound like capitalism at all tbh.

velik_m

06-02-2025, 11:51 PM

No, but some will simply charge less to supply US firms. You can't be serious.

China tariffs are at what, 50%? No business is eating that margin. If you have that much margin, you don't have serious competition to worry about anyway.

Winehole23

06-03-2025, 12:23 AM

https://cdn.bsky.app/img/feed_fullsize/plain/did:plc:q5wqr7zofdqyqwoki4cby36x/bafkreiap2qzggkzlvypow2oaxmdbolizjoh4ulmhwgdgwzo7r 5jy7z6nku@jpeg

Blake

06-03-2025, 08:55 AM

Pretty much. Walmart is a business notorious for playing hardball with suppliers when they can.

I like how America needs Walmart now to muscle China companies.

TSA

06-04-2025, 10:53 AM

https://x.com/QuantusInsights/status/1929946706981847327

Blake

06-04-2025, 11:09 AM

https://x.com/QuantusInsights/status/1929946706981847327

Now do a report on how small businesses are doing here

ChumpDumper

06-04-2025, 11:59 AM

https://x.com/QuantusInsights/status/1929607620584726740

:lmao

https://x.com/nicholaswu12/status/1930229286985720041

https://x.com/nicholaswu12/status/1930229286985720041

Blake

06-04-2025, 12:05 PM

:lmao

https://x.com/nicholaswu12/status/1930229286985720041

https://x.com/nicholaswu12/status/1930229286985720041

Lol

velik_m

06-04-2025, 12:22 PM

With steel tariffs doubling today, a North Carolina manufacturer wonders how to compete

...

The higher tariffs likely will provide a boost for domestic companies that produce steel and aluminum. But for every steelworker in America, there are about 80 people working for companies that use steel. And their costs are about to go up.

"How is it that you're supposed to buy the most expensive steel in world in the United States, and compete with global competitors who have access to world market pricing," asked H.O. Woltz, who runs a company in Mount Airy, N.C. that twists steel wire into cables used to reinforce concrete.

During the first Trump administration, Woltz's company was doubly squeezed — paying more for raw steel while competing with finished products from other countries that didn't face a tariff.

This time around, the Trump administration is taxing some of those finished products as well. Still, Woltz worries the higher cost of building materials might put some construction projects on hold.

...

Today's tariffs, which are higher and more far-reaching, could also show up in higher prices at the supermarket, for everything from canned soup to a six-pack of soda pop.

"We know that we as can-makers pass these increases on to our customers—the food producers and soft-drink makers and the beer brewers—and they'll pass that on to the consumer as well," says Robert Budway, president of the Can Manufacturers Institute. "It's a lose-lose for American consumers."

In raising the steel and aluminum tariffs, Trump did not rely on the 1977 emergency statute he's used for many other tariffs, which are the subject of an ongoing court battle. Instead, he cited the authority of a different statue — Section 232 of the Trade Expansion Act of 1962 — which is designed to protect national security.

https://www.kpbs.org/news/economy/2025/06/04/with-steel-tariffs-doubling-today-a-north-carolina-manufacturer-wonders-how-to-compete

Winehole23

06-04-2025, 07:49 PM

oh yeah, def gonna hurt

"that's how you know it's working!"

Winehole23

06-04-2025, 09:07 PM

Trumplandia redacts and withholds farm data

https://www.politico.com/news/2025/06/04/trump-officials-farm-product-trade-deficit-forecast-00382549

Winehole23

06-05-2025, 08:19 AM

Winehole23

06-05-2025, 08:23 AM

fire, aim, ready

it's like nobody thought this through

China has the extreme edge on rare earth magnets

Four major automakers are racing to find workarounds to China’s stranglehold on rare-earth magnets, which they fear could force them to shut down some car production within weeks.

Several traditional and electric-vehicle makers—and their suppliers—are considering shifting some auto-parts manufacturing to China to avoid looming factory shutdowns, people familiar with the situation said.

Ideas under review include producing electric motors in Chinese factories or shipping made-in-America motors to China to have magnets installed. Moving production to China as a way to get around the export controls on rare-earth magnets could work because the restrictions only cover magnets, not finished parts, the people said.

If automakers end up shifting some production to China, it would amount to a remarkable outcome from a trade war initiated by President Trump with the intention of bringing manufacturing back to the U.S.
https://www.mediaite.com/politics/trump/oops-trump-trade-war-has-u-s-automakers-looking-to-move-manufacturing-to-china-per-wsj/

Blake

06-05-2025, 09:29 AM

velik_m

06-05-2025, 01:24 PM

Trump speaks with Xi, will resume talks between U.S. and China over tariffs

...
Beijing’s Ministry of Foreign Affairs and China’s embassy in the U.S. said earlier Thursday that Trump had requested the call with Xi.

Trump has reportedly been eager to speak with Xi, as already-strained trade relations between the two countries frayed further in the past week.

After Thursday’s call, Trump wrote, “There should no longer be any questions respecting the complexity of Rare Earth products.” He did not explain what that meant.

China has expressed deep frustration with a recent decision to impose new restrictions on Chinese student visas. It has also accused the Trump administration of undermining recent trade progress by issuing an industry warning against using Chinese semiconductors.

...

https://www.cnbc.com/2025/06/05/trump-held-call-with-xi-chinese-media-says.html

ChumpDumper

06-06-2025, 02:25 AM

Your children will put tiny screws into American bananas.

1930669431165763641

https://x.com/atrupar/status/1930669431165763641

velik_m

06-06-2025, 11:23 AM

America’s Electric Vehicle Surrender
If Trump’s “big, beautiful bill” passes, the entire supply chain could be ceded to China.

The year is 2030 and about half of all cars sold in the world are electric. Thanks to new battery and charging technologies, electric vehicles (EVs) are cheaper than anticipated and the fear of range-anxiety is immaterial. Barring a few competitors in South Korea and Europe, this market belongs entirely to China. Such a scenario is increasingly a base case. Already in 2025, the majority of Chinese EVs are cheaper than their fossil equivalents and are flooding the world with low-cost exports, including in emerging markets from Ethiopia to Brazil. Alongside producing over 60 percent of the world’s EVs and 80 percent of its batteries, Chinese companies have unveiled new breakthroughs that will solidify their dominance in automobile markets: EVs that charge in five minutes, batteries that don’t require any costly critical minerals, and a luxury EV that can drive for 14 hours on a single charge. These are tectonic shifts in one of the most politically and economically vital manufacturing sectors across developed nations.
...

https://foreignpolicy.com/2025/06/05/electric-vehicles-house-bill-senate-china/

velik_m

06-07-2025, 01:34 AM

Disguise of Stability

...
Healthcare added 62,000. Hospitality chipped in 48,000. Social assistance threw in another 16,000. That’s more than 90 percent of the gain. Three sectors holding up the entire report.

The rest of the economy? Either flat or worse.

Manufacturing shrank. Construction barely moved. Temp work fell again. That part matters. Temporary staffing is where employers flinch first. It’s the easiest labor to cut. It fades quietly, but it always fades before the rest.

Then there’s the federal government. Down 22,000 jobs in May. Fourth straight month in the red. Budget cuts, buyouts, early retirements, and whatever Elon Musk is doing with his bizarrely named “Department of Government Efficiency.” DOGE. It was funny at first. Now it’s just cleaning out departments and canceling contracts.

Take those cuts out and the private sector added about 161,000 jobs. Not bad on paper. Not enough to ignore everything else.

Let’s talk about that other number. The household survey.

It showed a loss of 696,000 workers. That’s not a rounding error. That’s not noise. Full-time employment collapsed by over 600,000. At the same time, part-time roles ticked up.

Labor force participation dropped to 62.4 percent. Lowest since early 2020. That’s half a million people stepping out of the workforce in a single month. Gone.

...

https://www.bullionbite.com/p/disguise-of-stability

Winehole23

06-07-2025, 07:25 AM

don't worry, cuts to BLS have already degraded its capacity to measure the damage of Trump's cruel and moronic import taxes

velik_m

06-08-2025, 01:49 AM

The U.S. Economy Is Headed Toward an Uncomfortable Summer

The U.S. economy, which weathered false recession alarms in 2023 and 2024, is entering another uncomfortable summer.

Job growth held steady in May, with the economy adding 139,000 jobs. The unemployment rate has stayed in a tight range, between 4% and 4.2%, over the past year.

But there are cracks beneath the surface. Businesses are warning that constantly shifting trade policies are interfering with their ability to plan for the future, leading to hiring and investment freezes.

Policy uncertainty has unfolded against the backdrop of an economy with slower job growth and a cooling housing market. Compared with last year, the Federal Reserve is more reluctant to cut interest rates because officials are worried about new inflation risks.

John Starr, the owner of UltraSource, an importer and manufacturer of meat-processing technology in Kansas City, Mo., said he is hunkering down—no hiring, no more capital spending—until he has clarity on tariffs.

...

Steel and aluminum tariffs, which Trump this past week raised to 50% from 25%, could boost domestic metal producers while squeezing profits for carmakers, can manufacturers, and companies such as Titan Steel. Hutton, the steel company’s president, said customers have been understanding about accepting some price increases because his competitors have also had to raise prices.

“It feels like we’re muddling through,” he said. “Nobody—neither us, nor our customers, nor our overseas supplier—is in any position to do any long-term thinking.”

The Fed aggressively raised rates in 2022 and 2023 to combat inflation. But the U.S. economy was insulated because many households and businesses had already refinanced at ultralow rates during the pandemic. Later, the economy benefited from an unexpected boom in capital spending on artificial intelligence.

...

He expects businesses eventually will have to pass along some cost increases, however, because they will have depleted inventories acquired at pretariff rates.

One tailwind—recent declines in energy prices—could help offset some of the inflationary impulses from tariffs.

While the president often gets undue credit for what goes right or wrong in the economy, this time could be an exception.

“The economy has a lot of momentum, and so if Trump truly backs off on tariffs and just calms down, you could see this expansion going another two, three years, honestly,” said Thornberg of Beacon Economics. “Then again, if he keeps rocking the boat, you can blow it up by the beginning of next year.”

https://www.wsj.com/economy/trump-tariffs-us-economy-business-investment-7d3c6476?st=4VdcqW

velik_m

06-08-2025, 01:54 AM

The US Is on Track to Lose $12 Billion in Travel Revenue in 2025

According to new data from the World Travel & Tourism Council (WTTC), shared exclusively with Bloomberg, the country is set to lose $12.5 billion in travel revenue in 2025, with visitor spending estimated to fall under $169 billion by year’s end. The numbers represent a decline of around 7% in visitor spending year-over-year, and a decline of 22% since tourism reached its peak in the US in 2019.

This puts the US in a league of its own. Out of 184 global economies analyzed by WTTC in conjunction with Oxford Economics, it’s the only one projected to lose tourism dollars this year. “Other countries are really rolling out the welcome mat, and it feels like the US is putting up a ‘we are closed’ sign at their doorway,” says WTTC President and Chief Executive Officer Julia Simpson.

The consequences, Simpson says, could be devastating. “The US travel and tourism sector is the biggest sector globally compared to any other country, worth almost $2.6 trillion,” she says, citing WTTC and Oxford Economics data. According to Simpson’s data, direct and indirect tourism represents 9% of the American economy. (Visitor spending is one of the “direct” parts of the travel economy, while “indirect” contributions include the knock-on effects of increased spending by hospitality professionals.) The sector employs 20 million people and creates $585 billion in US tax dollars each year—7% of all tax revenue the US government receives. It’s a “major mainstay of the US economy,” she says.

...

It’s a cost for which the US can’t easily compensate. Already, 90% of the US tourism economy is made up of domestic travel—Americans vacationing within the 50 states—making it a hard sector to grow. Meanwhile, Simpson adds, every other country is making it easier for people to come visit with new perks like digitized visas. “India is gaining, the Middle East is gaining, China is gaining, Europe is doing quite well,” Simpson says. “It’s only Americans that are being left behind and losing out.”

https://finance.yahoo.com/news/us-track-lose-12-billion-063026737.html

velik_m

06-08-2025, 03:34 AM

Trump is now Begging Mark Carney for a Way Out of Canada's "Anti-Trump" Boycott/Tariff War, in Texts/Secret Phone Calls

...

Trump’s illegal, punitive tariffs on Canadian steel and aluminum were supposed to bring Canada to heel. Instead, they’ve triggered a full-scale economic counteroffensive led by the world’s most terrifying combatant: a calm, credentialed technocrat who doesn’t care if Trump screams on Truth Social.

Since March, Trump has doubled down, hiking tariffs to 50% on Canadian steel and aluminum—an economic escalation so reckless that even his own ambassador, off the record, admitted it’s a “mess.” Exports between the two countries have cratered. American companies are bleeding. Canadian politicians across the spectrum—from Mark Carney to Doug Ford—are spoiling for a fight.

And now Trump’s White House is quietly texting Canada’s Prime Minister, trying to ease the pain.

...

Duty-free sales at crossings like Niagara and Lacolle have decreased by 40–80%. U.S. tourism boards are sounding the alarm. In Buffalo, shop owners are pleading with Canadian customers to return. But they’re not coming. Because Canadians aren’t just avoiding American products—they’re angry.

Trump joked about annexing Canada. Then he called our exports a threat to U.S. national security. Then he doubled our tariffs. Canadians got the message.

And we’re sending one back: Get bent.

...

https://deanblundell.substack.com/p/breaking-trump-is-now-begging-mark

velik_m

06-08-2025, 11:39 PM

...

Winehole23

06-09-2025, 06:26 AM

businesses can't plan when a mercurial shitbird keeps changing his mind how high taxes are going to be

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:z6rujpf4u56jfie7aqic2nfg/bafkreigp3objrw6c4zif5otpbrew7fpkqrnuwu67txrcth3er uivuhi7f4@jpeg

Winehole23

06-09-2025, 06:39 AM

Sometimes when the mad king issues a new decree, nothing happens

In a much-hyped split-screen Oval Office phone call a month ago, U.S. President Donald Trump promised Britain’s Prime Minister Keir Starmer that the two had struck an “historic” trade deal.

The agreement would lower Trump's punishing 25 percent tariffs on key U.K. exports, including cars, steel and aluminum, the White House said. The pact meant tariffs would be “immediately slashed (https://www.gov.uk/government/news/landmark-economic-deal-with-united-states-saves-thousands-of-jobs-for-british-car-makers-and-steel-industry),” No. 10 trumpeted.

A month later, those duties remain in place. There is still no clear timeline for when they’ll lift.
https://www.politico.eu/article/donald-trump-white-house-britain-uk-deal-tariffs/

velik_m

06-09-2025, 10:32 AM

Florida farmers now plowing over perfectly good tomatoes as Trump’s tariff policies cause prices to plummet

...
From January through April, Trump’s threatened tariffs triggered Mexican suppliers to double or even triple tomato exports to the U.S. — before tariffs went into effect.

The result? The U.S. market was flooded with Mexican tomatoes. Florida farmers saw the wholesale price of a box of tomatoes plummet from $16 per box to $3 or $4. DiMare said tomato farmers need around $10 or $11 per box to break even.

“You can’t even afford to pick them right now,” said Heather Moehling, president of the Miami-Dade County Farm Bureau. “Between the cost of the labor and the inputs that goes in, it’s more cost-effective for the farmers to just plow them right now.”

It’s not just Florida tomato growers feeling the pinch. Canada has imposed a 25% tariff on U.S. watermelons in retaliation for Trump’s tariffs on Canadian products. DiMare knows one watermelon grower who’s lost Canadian customers to Mexican watermelon suppliers as a result.

...

https://www.yahoo.com/news/florida-farmers-now-plowing-over-130000347.html

velik_m

06-09-2025, 10:46 AM

West Virginia coal mine had 30 years of production left. It will close.

...
On Monday, Kurt Salvatori, Core’s senior vice president and chief administrative officer, informed state officials that 234 workers would be laid off.

That includes 197 workers at the Itmann Mine No. 5 and 37 at the coal preparation plant. Salvatori said the layoffs were expected to be permanent.

The Itmann mine produces metallurgical coal, the kind used to make steel.

In its first quarter report, released on May 8, Core said the “long-term market dynamics for Core’s metallurgical segment remain highly promising.”

However, the report also acknowledged that “trade-related uncertainties continue to weigh on markets” for coal.

...

https://www.lpm.org/news/2025-06-07/west-virginia-coal-mine-had-30-years-of-production-left-it-will-close

Winehole23

06-10-2025, 10:53 PM

framework for an agreement

translation: Xi told Nutlick to kick rocks

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4kshoaytrzhgsziro6ywozul/bafkreih2yi27nbfrhgeo7ehhhnbg23csuac67ot7sfppsn2hd tsal7rhd4@jpeg

TSA

06-11-2025, 09:25 AM

Now do a report on how small businesses are doing here

https://x.com/SecScottBessent/status/1932793616927178859

TSA

06-11-2025, 09:30 AM

fire, aim, ready

it's like nobody thought this through

China has the extreme edge on rare earth magnets

https://www.mediaite.com/politics/trump/oops-trump-trade-war-has-u-s-automakers-looking-to-move-manufacturing-to-china-per-wsj/

framework for an agreement

translation: Xi told Nutlick to kick rocks

OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!

https://truthsocial.com/@realDonaldTrump/posts/114664632971715644

:bobo

ChumpDumper

06-11-2025, 10:32 AM

Has always been good with him?

:rollin:rollin:rollin

Let's see the signed trade agreement.

Blake

06-11-2025, 11:08 AM

https://x.com/SecScottBessent/status/1932793616927178859

Yeah sentiment has improved thanks to TACO. This isn't difficult, derp.

Blake

06-11-2025, 11:42 AM

TSA

06-11-2025, 12:20 PM

"The president said the deal is "done," but added that it is still "subject to final approval" between himself and Chinese President Xi Jinping."

https://www.cnbc.com/2025/06/11/us-china-trade-tariffs-lutnick.html

Lol

Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized.

Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You can definitely say that.”

https://www.cnbc.com/2025/06/11/us-china-trade-tariffs-lutnick.html

lol

USA tariffs China 55%
China tariffs USA 10%

Real world finance guy, is this a better deal for the USA than was previously in place? yes or no

ChumpDumper

06-11-2025, 01:45 PM

They're going to change again.

And it's a worse deal for America than was previously in place because real world Americans buy things.

Blake

06-11-2025, 03:13 PM

Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized.

Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You can definitely say that.”

https://www.cnbc.com/2025/06/11/us-china-trade-tariffs-lutnick.html

lol

USA tariffs China 55%
China tariffs USA 10%

Real world finance guy, is this a better deal for the USA than was previously in place? yes or no

Fuck no. You're an idiot for eating up everything Trump feeds you. Fucking idiot.

TSA

06-11-2025, 03:30 PM

Fuck no. You're an idiot for eating up everything Trump feeds you. Fucking idiot.

Fuck no huh? Sounds like you are pretty passionate about this and must have a lot of reasons why it's not a better deal than before. Please explain in detail how this is not a better deal for the USA, real world financial guy.

TSA

06-11-2025, 03:38 PM

Fuck no. You're an idiot for eating up everything Trump feeds you. Fucking idiot.

Throughout former President Joe Biden's term, tariffs against China only increased twice, whereas tariffs against the U.S. increased once after going down. Tariffs against China sat at 19.3% for most of Biden's term, increasing to 19.9% near Sept. 27, 2024, and 20.8% near Jan. 1, 2025.

Tariffs from China against the U.S. were set at 21.2% around July 1, 2020, and dropped to 21.1% around May 1, 2021. China then increased back to 21.2% around Jan. 1, 2025.

https://www.commercialappeal.com/story/money/2025/05/13/how-high-were-u-s-tariffs-against-china-before-president-trump/83580518007/

Blake

06-11-2025, 04:28 PM

Fuck no huh? Sounds like you are pretty passionate about this and must have a lot of reasons why it's not a better deal than before. Please explain in detail how this is not a better deal for the USA, real world financial guy.

No. Not gonna hold your retard hand any more, tbh.

Winehole23

06-11-2025, 07:06 PM

Bessent says Trump may extend next month's tariff deadline

Winehole23

06-11-2025, 10:55 PM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:dmopowukpuxjkjvvnsi4srit/bafkreif5a5br52dc5fpufgvwucivir46jfgvhe6eg7hvk7vtp nskw4hwoy@jpeg

velik_m

06-12-2025, 03:47 AM

Bessent says Trump may extend next month's tariff deadline

Don't worry business owners, Trump will chicken out.

Winehole23

06-12-2025, 08:35 AM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:2siuzncztvvgr47k7e7esvim/bafkreibbqqyxuz7mqnsf7kh3v4frg4giil3a76amllxw5udph lom5vh77a@jpeg

TSA

06-12-2025, 08:43 AM

No. Not gonna hold your retard hand any more, tbh.

Blake saw the tariff data vs China under Biden and folded :lol

Winehole23

06-12-2025, 08:58 AM

China and the USA agreed to return to the former agreement, which wasn't really an agreement but just a roadmap for future negotiations

No progress, pain postponed again by TACO

ChumpDumper

06-12-2025, 11:18 AM

Blake saw the tariff data vs China under Biden and folded :lol

Any Trump deal is not a better deal because Americans buy things and will have to pay more no matter who is making it. Thinking Chinese people want to drive F-150s in Shenzhen is cute tho.

Blake

06-12-2025, 11:45 AM

China and the USA agreed to return to the former agreement, which wasn't really an agreement but just a roadmap for future negotiations

No progress, pain postponed again by TACO

But they still will proclaim a 55% tariff victory.

Blake

06-12-2025, 11:47 AM

Any Trump deal is not a better deal because Americans buy things and will have to pay more no matter who is making it. Thinking Chinese people want to drive F-150s in Shenzhen is cute tho.

It's pretty simple like that. Impose tariffs, consumers pay more.

If you want to say "America is making money out of these tariffs" then it's basically just circling back to taxing average Joe instead of Donald billionaire.

velik_m

06-15-2025, 02:34 PM

American travel demand declines as US consumers cut costs

...
Prices for airline tickets and hotel accommodation also dropped on a seasonally adjusted basis between April and May, according to figures published by the Bureau of Labor Statistics on Wednesday. Operators said it had been increasingly difficult to fill rooms, as President Donald Trump’s trade war stokes fears of inflation and unemployment.

“The uncertainty in the environment is creating cautionary behaviours from guests,” Joan Bottarini, chief financial officer at hotel group Hyatt, told an investor conference last week in New York.

US consumers across all income levels cut their spending on lodging and airlines in the year to May, compared with the same period in 2024, according to an analysis of credit and debit card spending by Bank of America.

The decline is a further blow to the US tourism industry, which is reeling from sharp drops in visitors from Canada and Europe amid political and economic tensions and some tourists experiencing hostile treatment at the US border.

Canadian air travel to the US fell almost a quarter in May compared with the same month in 2024, according to Statistics Canada. There were also more than 7 per cent fewer arrivals from France and Germany, the two largest US tourism markets in mainland Europe, in the year to April, according to the International Trade Administration.

The biggest pullback on travel spending was among lower-income households, according to Bank of America. Wealthier consumers only marginally reduced their spending, meaning that luxury hotels were mostly insulated from the slowdown.

...

https://www.ft.com/content/28fd4e9a-9bbd-4307-80c5-8126f81b8a2d

Winehole23

06-15-2025, 10:47 PM

Trump quasi-nationalizing US Steel is hilarious

It's the sort of thing we used to send the US Marines to deal with, not too long ago

velik_m

06-16-2025, 03:43 PM

Texas retailer At Home files for bankruptcy, citing tariffs as a challenge

North Texas furniture and home decor retailer At Home is filing for bankruptcy as the company tries to claw back its debt and deal with the impact of tariffs.

On Monday, At Home announced that the company and some of its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware as part of a restructuring agreement with lenders.

In doing so, At Home is aiming to eliminate the company’s nearly $2 billion in funded debt. The company also entered into an agreement for $600 million in debtor-in-possession financing, which includes a $200 million capital infusion from some of its existing lenders and a "roll up" of $400 million of existing senior secured debt. At Home expects the capital infusion to serve as support through the restructuring process and beyond.

At Home stocks furniture, rugs, decor and bed and bath goods for value prices. While it was once a Houston-based home decor and crafts retailer known as Garden Ridge, the company is now headquartered in Coppell, Texas. It operates 260 stores in 40 states, including about 10 in the Houston area. Currently, 26 store closings have been authorized, according to a bankruptcy document, though none of the affected stores are in Texas, the Dallas Morning News notes.

...

https://www.chron.com/culture/article/at-home-bankruptcy-20379287.php

Winehole23

06-16-2025, 07:48 PM

https://cdn.bsky.app/img/feed_fullsize/plain/did:plc:jfex7pbe5p7nejruly6rnnhn/bafkreid7pfdwforcfdj5x6jvuww45lwsgdpnz4esknbz2tpg2 rswb5slyi@jpeg

ChumpDumper

06-16-2025, 07:57 PM

:lol Trump did another socialism.

SnakeBoy

06-16-2025, 08:05 PM

https://www.chron.com/culture/article/at-home-bankruptcy-20379287.php

Failing company with 1 billion debt acquired by private equity firm in '21. Private equity firm doubles the debt to 2 billion now asks to have it's debt erased cuz muh tariffs :cry

Winehole23

06-17-2025, 10:43 AM

Trump: "We had a good G7. We signed the deal with the European Union -- phase one of a deal -- but we signed the deal with the UK ... look, we're actually finished with every deal if you really think about it, because all I have to do is say, 'This is what you're gonna pay.'"

Winehole23

06-17-2025, 10:53 AM

and by you, Trump means US consumers

Blake

06-17-2025, 11:47 AM

Failing company with 1 billion debt acquired by private equity firm in '21. Private equity firm doubles the debt to 2 billion now asks to have it's debt erased cuz muh tariffs :cry

Out of all the companies that are really suffering from these retard tariffs, you finally found one that maybe is putting false blame on them. Congrats, Columbo.

ChumpDumper

06-17-2025, 11:58 AM

Private equity bad now?

Winehole23

06-18-2025, 07:31 AM

ingenuity eludes the taxman

“I was talking to somebody recently and they were showing me their lapel pin,” said Kelley Drye & Warren’s Foote. The pin, tacked onto the person’s suit, featured a “festive design” with pieces of cubic zirconia at the back, Foote said.

The inclusion of cubic zirconia helped the company that manufactures those pins avert a 14% tariff, as the item no longer fell under festive article category but got classified as jewelry, Foote subsequently learnt.

“The value attributable to the cubic zirconia was significant enough [and] it was a relatively easy manufacturing change,” Foote said.

The practice of tariff engineering can be traced back to 1882, when an importer coated sugar with molasses to avoid higher duties imposed on lighter-colored sugar. In a landmark ruling (https://www.cit.uscourts.gov/sites/cit/files/17-102.pdf), the Supreme Court ruled the act perfectly legal: “so long as the goods are truly invoiced and freely and honestly exposed to the officers of customs for their examination, no fraud is committed.”
https://www.cnbc.com/2025/06/18/businesses-tweak-products-to-qualify-for-lowter-tariffed-categories-.html

ChumpDumper

06-18-2025, 03:37 PM

:lol

1935406949799281026

https://x.com/Acyn/status/1935406949799281026

Winehole23

06-18-2025, 04:17 PM

:lol Trump did another socialism.will Trump try to coopt the steel workers union, or will he break it?

Winehole23

06-18-2025, 04:26 PM

:lol

1935406949799281026

https://x.com/Acyn/status/1935406949799281026sounds bad

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:tfcfinlt55bchirdqxsjbat4/bafkreidlp3347ejkqy66s63vlpan76bjqqprq2oqojiudgcrs 23t6pz7h4@jpeg

Blake

06-18-2025, 05:12 PM

:lol

1935406949799281026

https://x.com/Acyn/status/1935406949799281026

Does that count as an inflation warning? Asking for someone currently in Korea

velik_m

06-19-2025, 09:04 AM

U.S. wine export market struggling after Canada ‘pulled the plug,’ expert says

After U.S. President Donald Trump announced a series of tariffs targeting Canadian goods earlier this year, Canada was quick to respond with retaliatory measures aimed at American sectors that rely on exports north of the border, one of which was the wine industry.

The result was a 93 per cent drop in American wine exports to Canada in April, the biggest year-over-year decline in decades. Since Canada is the largest buyer of exported U.S. wines, the ongoing trade dispute has plunged the industry into crisis, according to one expert.

“Wine firms here in the U.S. thought that a tariff on (imported) goods, including wine from Canada, would be a boon, but it has turned out the other way around,” Karl Storchmann, executive director of the American Association of Wine Economists, told BNN Bloomberg in a Wednesday interview.

...

“Canada is a very, very important market for upscale wine and it’s in enormous quantities. The premium wine markets are Canada and China,” he said.

American wine exports to China, the third largest purchaser of U.S. wine, also took a hit in April, as Beijing and Washington were in the midst of a trade war of their own. China bought 30.5 per cent less American wine in April than it did in the same month in 2024.

Storchmann said that on top of all this, overall demand for wine around the world has been on the decline for the last two or three years.

“Wine consumption in the U.S. and globally has been going down probably pretty much starting after COVID-19, so that is another problem,” he said.

“That’s why Canada virtually pulling the plug makes it especially hard.”

https://www.ctvnews.ca/business/article/us-wine-export-market-struggling-after-canada-pulled-the-plug-expert-says/

TSA

06-19-2025, 12:50 PM

Does that count as an inflation warning? Asking for someone currently in Korea

:lol rent free in your tiny pea brain
:lol trying to shift your claim from warning of "massive inflation" and warning of "huge inflation" to just "warning of inflation".
:lol det goalpost move

This forum is dying and it's becoming a one man echo chamber and it gets boring making you look stupid every day.

You just can't let this go and you continue to make yourself look like a fucking idiot.

Many economists on both sides today are warning of massive inflation coming.

Top conservative economists warn of huge inflation after election - ESPECIALLY if Trump wins

Powell didn't warn of "massive inflation" or "huge inflation" and the fed numbers released are the exact opposite of your idiotic claim.

2.5% now
3.1% by end of year
2.4 % 2026
2.1% 2027

https://www.federalreserve.gov/monetarypolicy/fomcprojtabl20250618.htm

Don't be a little bitch and dodge again. Are those numbers from the Fed "massive" or "huge" inflation numbers? yes or no.

ChumpDumper

06-19-2025, 03:57 PM

TSAnon demands accountability

Blake

06-19-2025, 05:47 PM

Lol

TSA

06-20-2025, 09:49 AM

Lol

You are such a pussy :rollin

Blake

06-20-2025, 06:52 PM

You are such a pussy :rollin

You're a rambling retard :lol

Winehole23

06-21-2025, 02:51 PM

https://www.ctvnews.ca/resizer/v2/PZV533FQBJBXJESPDY6HQA6GOQ.JPG?auth=3eed8e4805273d 08bf01688c91513758528286a4a2b5f0883688fa49a3f298bb&width=800&height=523

Journalist: "What is holding up a deal with Canada"

Trump: "I have a tariff concept Mark Carney has other ideas"

Canada will adjust counter-tariffs on steel and aluminum products on July 21 to levels “consistent” with progress made during trade negotiation with the United States, Prime Minister Mark Carney said Thursday.He did not specify what those adjusted tariffs would amount to. July 21 coincides with the end of the 30-day trade deal deadline announced after Carney and U.S. President Donald Trump met in Kananaskis, Alta., on the sidelines of the G7.

In addition to adjusting those counter tariffs, Canada will limit federal procurement policies to favour Canadian suppliers and “reliable trading partners” by June 30, according to a press release.

Third, the government will unleash new, retroactive tariff quota rates, at 100 per cent of 2024 levels, on imports of steel products from non-free trade agreement countries. More tariff measures will be adopted in the coming weeks to respond to “unfair trade inthe steel and aluminum sectors, which are exacerbated by U.S. actions,” the news release adds.https://www.ctvnews.ca/world/trumps-tariffs/article/canada-to-adjust-counter-tariffs-against-us-on-july-21-carney/

Winehole23

06-21-2025, 02:52 PM

Carney gives Trumplandia a deadline

TSA

06-21-2025, 07:22 PM

You're a rambling retard :lol

A “rambling retard” has taken you to the woodshed over and over again. What’s that make you?

koriwhat

06-21-2025, 09:11 PM

You're a rambling retard :lol

LOL you're both a retard and a pussy, BlaKKKe.

Winehole23

06-24-2025, 05:35 PM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:ekts44pfepbmryv2h633onqu/bafkreibnx6emoe2mc25ikdtfw4l6yz6nbfkrygqjmkxqtfyhv b3xrsy22a@jpeg

Blake

06-24-2025, 05:52 PM

A “rambling retard” has taken you to the woodshed over and over again. What’s that make you?

If we both agree you're a retard, then your victory claim goes from worthless to hilarious.

velik_m

06-26-2025, 09:49 AM

The US economy shrank much faster in the first quarter than previously reported

The US economy contracted in the beginning of the year at a much faster pace than previously reported, after new data factored in much weaker consumer spending.

Gross domestic product, the broadest measure of economic output, registered an annualized rate of -0.5% from January through March, the Commerce Department said Thursday in its third and final estimate. That’s worse than the 0.2% decline reported in the second estimate. GDP is adjusted for seasonal swings and inflation.

The latest estimate showed that consumer spending — the lifeblood of the US economy — was tepid in the beginning of the year. Spending in the first quarter grew at a rate of just 0.5%, down from 1.2% in an earlier estimate. That’s the weakest rate in more than four years.

The first quarter’s decline in GDP was attributed to a massive trade deficit as American businesses rushed to stock up on imports to get ahead of President Donald Trump’s stiff tariffs. The third estimate revised imports down, but they still greatly exceeded exports, which subtracted from GDP.

...

https://edition.cnn.com/2025/06/26/economy/us-gdp-q1-final

velik_m

06-27-2025, 01:16 PM

Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows

Prices that consumers pay rose slightly in May, while the annual inflation rate edged further away from the Federal Reserve’s target, according to a Commerce Department report Friday.

The personal consumption expenditures price index, the Fed’s primary inflation reading, rose a seasonally adjusted 0.1% for the month, putting the annual inflation rate at 2.3%. Economists surveyed by Dow Jones had been looking for respective levels of 0.1% and 2.3%.

Excluding food and energy, core PCE posted respective readings of 0.2% and 2.7%, compared with estimates for 0.1% and 2.6%. Fed policymakers consider core to be a better measure of long-term trends because of historic volatility in the two categories. The annual rate was 0.1 percentage point ahead of the April reading.

The Fed targets inflation at 2%, a level where it has not been since early 2021.

...

https://www.cnbc.com/2025/06/27/pce-inflation-report-may-2025-.html

Winehole23

06-27-2025, 03:06 PM

Trump is bringing on stagflation

SnakeBoy

06-27-2025, 03:32 PM

Ya'll have predicted hyperinflation, stagflation, and deflation in the last 4 months

ChumpDumper

06-27-2025, 03:35 PM

You predicted recession the entire Biden administration.

Winehole23

06-27-2025, 04:05 PM

Ya'll have predicted hyperinflation, stagflation, and deflation in the last 4 monthsNope, I've been fairly steady with the stagflation call

Blake

06-27-2025, 04:21 PM

Ya'll have predicted hyperinflation, stagflation, and deflation in the last 4 months

Trump keeps making TACOs

Winehole23

06-27-2025, 05:33 PM

Is it a good thing when US consumer spending falls?

Winehole23

06-27-2025, 05:37 PM

Income fell last month too, by 0.4%

velik_m

06-28-2025, 04:38 AM

Deep inside U.S. economy, more sticker prices start going up due to tariffs, and inventory is headed down

On the surface of the U.S. economy, prices are higher. The latest inflation data out on Friday from the government showed a bigger uptick than forecast. On Thursday, Nike said it took a $1 billion hit due to tariffs and the fact that price increases have yet to be implemented.

Inside the U.S. economy, within distribution networks that manage inventory, there are fewer items overall due to the trade war, but more goods on which sticker prices are going up.

“We are now seeing multiple customers increasing pricing,” said Ryan Martin, president of distribution and fulfillment for ITS Logistics.

While price tags are placed on items at the manufacturer, Martin said over the past month his company has started re-ticketing “millions of units of products for many customers,” items ranging from apparel to consumer products in the warehouse being prepped for eventual delivery or immediate transport to stores.

Depending on the product, price increases range from 8%-15%, he said.
...

https://www.cnbc.com/2025/06/27/deep-inside-economy-more-sticker-prices-start-to-go-up-due-to-tariffs.html

Winehole23

06-30-2025, 07:46 AM

with the clock running out on the 90 day pause and few deals trickling in, Trump announces no deals will be necessary

counterparties will be notified by mail what their tariffs are

"We made deals, but I'd rather just send them a letter, a very fair letter, saying 'congratulations, we're going to allow you to trade in the United States of America, you're going to pay a 25% tariff, or 20%, or 40 or 50%.' I would rather do that," Trump said on Fox News' "Sunday Morning Futures."

Asked about extending the pause, Trump said "I don't think I'll need to. I could, there's no big deal."

"What I wanted to do is, and what I will do just — sometime prior to the 9th — is we'll send a letter to all these countries," he added.

"I'm going to send letters. That's the end of the trade deal," Trump said, giving U.S. ally Japan as an example.

"Dear Mr. Japan, here's the story. You're going to pay a 25% tariff on your cars," he said.
Trump said letters would go out "pretty soon" and that "we don't have to meet. We understand, we have all the numbers."

https://www.axios.com/2025/06/29/trump-tariffs-pause

Winehole23

06-30-2025, 07:47 AM

"2 to 3 weeks"

The intrigue: Trump made similar promises of unilateral tariff letters on May 16 (https://www.axios.com/2025/05/16/trump-tariffs-trade-deal) and June 11 (https://www.axios.com/2025/06/11/trump-tariffs-trade), saying both times they'd be sent in 2 to 3 weeks.

That didn't happen.

ChumpDumper

06-30-2025, 10:36 AM

Mr. Japan?

Blake

06-30-2025, 01:31 PM

Mr. Japan?

:lol seriously who the fuck can seriously think this guy is a competent leader of anything at all.

Blake

06-30-2025, 01:33 PM

Dear Mr Gulf of Mexico, my phone company that's worse than Cricket will be changing your name to Gulf of America in 2-3 weeks

Winehole23

06-30-2025, 05:33 PM

totally incoherent

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4llrhdclvdlmmynkwsmg5tdc/bafkreiau7b3prnevrk3m3llevglgmk64ug27nmu27g2riotvw ko4hjvvzu@jpeg

Blake

06-30-2025, 06:16 PM

totally incoherent

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4llrhdclvdlmmynkwsmg5tdc/bafkreiau7b3prnevrk3m3llevglgmk64ug27nmu27g2riotvw ko4hjvvzu@jpeg

Trump tards will still complain about Biden being old

velik_m

07-01-2025, 11:20 AM

Powell confirms that the Fed would have cut by now were it not for tariffs

Federal Reserve Chair Jerome Powell said Tuesday that the U.S. central bank would have eased monetary policy by now if not for President Donald Trump’s tariff plan.

When asked during a panel if the Fed would have lowered rates again this year had Trump not announced his controversial plan to impose higher levies on imported goods earlier this year, Powell said, “I think that’s right.”

“In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs,” Powell said at European Central Bank forum in Sintra, Portugal.

Powell’s admission comes as the Fed has entered a holding pattern on interest rates despite mounting pressure from the White House.

The Fed last month held the key borrowing rate steady once again, keeping fed funds at the same range between 4.25% and 4.5% where it’s been since December.

...

https://www.cnbc.com/2025/07/01/powell-confirms-that-the-fed-would-have-cut-by-now-were-it-not-for-tariffs.html

velik_m

07-02-2025, 10:40 AM

U.S. private employers shed 33,000 jobs in June - ADP

U.S. private payrolls dipped by 33,000 in June, worse than expectations for growth of 99,000, reflecting a hesistancy among employers to hire and reluctance among workers to leave in a time of tariff-fueled economic uncertainty.

The ADP National Employment Report was also revised to 29,000 in May, lower than an initial reading of 37,000 -- which was itself the smallest gain since March 2023.

...

https://finance.yahoo.com/news/u-private-employers-shed-33-125054121.html

velik_m

07-02-2025, 10:42 AM

US manufacturing mired in weakness as tariffs bite

WASHINGTON, July 1 (Reuters) - U.S. manufacturing remained sluggish in June, with new orders subdued and prices paid for inputs creeping higher, suggesting that the Trump administration's tariffs on imported goods continued to hamper businesses' ability to plan ahead.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI nudged up to 49.0 last month from a six-month low of 48.5 in May. It was the fourth straight month that the PMI was below the 50 mark, which indicates contraction in the sector that accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI little changed at 48.8.

The survey joined weak data on the housing market, consumer spending and swelling unemployment rolls that have suggested the economy's underlying momentum slowed further in the second quarter even as gross domestic product probably rebounded as the drag from a record trade deficit faded due to falling imports.

A measure of domestic demand grew at its slowest pace in more than two years in the January-March quarter. President Donald Trump's sweeping tariffs, which have led businesses and households to front-run imports and goods purchases to avoid higher prices from duties, have muddled the economic picture. Economists warned it could take time for the tariff-related distortions to wash out of the economic data.

...

https://www.reuters.com/business/us-manufacturing-mired-weakness-tariffs-bite-2025-07-01/

velik_m

07-02-2025, 10:43 AM

https://x.com/atrupar/status/1940390331033272413

koriwhat

07-02-2025, 10:47 AM

If we both agree you're a retard, then your victory claim goes from worthless to hilarious.

What if we don't both agree? I don't think TSA is a retard in the least so don't try to lump me in with you. We aren't the same you bitch boy cuckold. Eat shit BlaKKKe! :tu

velik_m

07-02-2025, 01:29 PM

Inside America’s department stores, tariff-triggered price hikes are picking up

The impact of President Trump’s tariffs on prices throughout the economy is expected to increase over the summer. At U.S. department store chains including Macy’s, Nordstrom, and Dillard’s, the evidence of more sticker price inflation is starting to show up across more items.

Recent price increases in apparel, footwear, and bags across major U.S. department-store websites tracked by DataWeave indicate a turning point in May, when prices started their ascent.

DataWeave analyzes nearly 15,000 SKUs (stock keeping units), a scannable code retailers use to identify and track a product, and has been collecting that data from January to June for signs of price hikes in footwear, apparel, and bags.

“Footwear is now as much as 4% above January levels at some banners, while apparel is roughly half that pace,” said Karthik Bettadapura, co-founder & CEO of DataWeave.

According to the data, Macy’s 1589 SKUs of footwear reported a 4.2% increase in price, followed by Nordstrom (3.1%), and Dillard’s (2%.)

Prices in store may vary slightly from online prices, but typically follow the same pricing trend.

...

Vietnam is the second-largest supplier for footwear, apparel, and accessories sold into the U.S. market, according to the American Apparel and Footwear Association. In 2024, the U.S. imported 274 million pairs of footwear from Vietnam, accounting for over half of all athletic footwear imports by volume and value, according to the Footwear Distributors and Retailers of America, and it says Vietnam is on pace to be the largest international footwear supplier in 2025.

The 20% tariff would be less than Trump’s initial threat of a 46% tariff on goods from Vietnam, but would be stacked on top of existing 10% most-favored nation tariffs paid by Vietnam, bringing the combined tariff to as high as 30% at a minimum, which could cause significant economic challenges for retailers. Meanwhile, the 40% transshipment tariff that has yet to be clearly defined by the administration.

...

https://www.cnbc.com/2025/07/02/inside-americas-department-stores-tariff-price-hikes-pick-up.html

Blake

07-02-2025, 01:48 PM

https://x.com/atrupar/status/1940390331033272413

Yeah but what about all those crop picking and roofing jobs that Americans are complaining had they were losing out on

Winehole23

07-03-2025, 09:30 AM

all these tariff deals are taxes laid unilaterally on US importers, by the president

Meanwhile, University of Michigan professor of public policy and economics, Justin Wolfers (https://x.com/JustinWolfers/status/1940455456121790478), noted on X, "'New' trade deal just dropped: US businesses get tariff-free access to the Vietnamese market, just as they were offered 8 years ago in the TPP, but Trump refused to sign. In addition, Trump's imposing a 20% tax on Americans who import goods from Vietnam."https://www.rawstory.com/trump-vietnam-trade/

velik_m

07-07-2025, 11:18 PM

Trump announces steep tariffs on 14 countries starting Aug. 1

At least 14 countries’ imports are set to face steep blanket tariffs starting Aug. 1, President Donald Trump revealed Monday.

The president, in a series of social media posts, shared screenshots of form letters dictating new tariff rates to the leaders of Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos and Myanmar.

Later in the day, he shared another set of seven letters, to the leaders of Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia and Thailand.

Goods imported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan and Tunisia are now set to face 25% tariffs, according to the letters Trump posted.

South African and Bosnian goods will be subject to a 30% U.S. tariff, and imports from Indonesia will be hit with a 32% excise duty.

Bangladesh and Serbia are both at 35%, while Cambodia and Thailand are set for 36% tariff rates, the president’s letters said.

Imports from Laos and Myanmar will face a 40% duty, according to the letters Trump posted on Truth Social showed.

The letters Trump signed add that the U.S. will “perhaps” consider adjusting the new tariff levels, “depending on our relationship with your Country.”
...

https://www.cnbc.com/2025/07/07/trump-tariffs-trade-letters-japan.html

Really working hard to get Bosnia to negotiating table.

Winehole23

07-08-2025, 06:47 AM

Can't think of a better tactic to unite the whole world against the USA and this administration in particular

velik_m

07-08-2025, 09:45 AM

India tells WTO it may impose retaliatory tariffs worth $724 million on U.S. imports

...
In a communication to the WTO dated July 3, India said that even though the U.S.’ measures had not been notified to the WTO, they were in essence safeguard measures. It added that India’s position on the matter was that the U.S. tariffs were not in accordance with the General Agreement on Tariffs and Trade 1994, the agreement at the core of the WTO, and the Agreement on Safeguards (AoS).

“As consultations provided for under Article 12.3, AoS have not taken place, India reserves the right to suspend concessions or other obligations under Article 8, AoS that are substantially equivalent to the adverse effects of the measure to India’s trade,” India said in its communication.

In other words, as the U.S. had not conducted consultations with India over the issue, India reserves the right to suspend concessions provided to the U.S. equalling the amount that the U.S. tariffs would impact India’s exports to the U.S.

...

https://www.thehindu.com/business/Economy/at-wto-india-proposes-retaliatory-duties-against-us-over-auto-tariffs/article69772514.ece

Blake

07-08-2025, 01:22 PM

Can't think of a better tactic to unite the whole world against the USA and this administration in particular

The only nice left to get the rest of the world to laugh harder would be if the USA got calf tats

Blake

07-08-2025, 01:23 PM

https://www.thehindu.com/business/Economy/at-wto-india-proposes-retaliatory-duties-against-us-over-auto-tariffs/article69772514.ece

TACO TUESDAY

Winehole23

07-09-2025, 08:28 AM

old-timey mercantilists were smart enough to avoid laying duties on industrial inputs

not us, I guess

By August, Benchmark said that U.S. consumers could be paying around $15,000 per metric ton for copper, while the rest of the world pays around $10,000, assuming the 50% tariff rate comes into effect at the start of the month.

This huge discrepancy will start to have a major economic impact, Daan de Jonge, Benchmark’s lead analyst for copper demand and prices, told CNBC.

“On household spending, if you’re buying a new fridge, air conditioner, car, everything is going to get more expensive, and companies could reasonably be expected to pass that on,” he said. Depending on the final baseline tariff rates, U.S. consumers could opt to buy goods produced more cheaply abroad due to that impact.

“If we’re looking at public investment, U.S. debt has got more expensive, the dollar is declining, and now you’re getting a major raw material cost increase for infrastructure investments ... I’d expect that to start showing employment effects.”

Another side effect may be that projects start to swap copper for cheaper aluminum, which in some cases can be used as a replacement, though it is heavier and more expensive to maintain in the long run, de Jonge said.

“All of this definitely enters the risk range of demand destruction,” he noted.

https://www.cnbc.com/2025/07/09/us-copper-price-premium-economic-consequences.html

ChumpDumper

07-09-2025, 12:38 PM

Trump and co. still have no idea what the goal is.

1942994211512660277

https://x.com/Acyn/status/1942994211512660277

velik_m

07-09-2025, 12:51 PM

Trump sends more letters dictating high tariff rates around the world

President Donald Trump on Wednesday sent letters dictating new U.S. tariff rates on at least six more countries’ imports, leaning into his aggressive approach to resetting America’s global trade relationships.

The latest letters, revealed by Trump via Truth Social screenshots, were sent to the leaders of the Philippines, Brunei, Moldova, Algeria, Iraq and Libya.

Trump had teased the announcement Tuesday evening, writing on social media that he will release a “minimum of 7 Countries” on Wednesday morning and an “additional number of Countries” in the afternoon.

The new round comes two days after Trump first shared letters telling 14 countries’ leaders that their exports to the U.S. would face steep new tariffs starting Aug. 1.

...

A number of the countries who have received letters so far are relatively minor U.S. trading partners. And while the U.S. has trade deficits with all of them, some of those gaps are minuscule. For instance, America’s trade deficit with Moldova in 2024 totaled just $85 million, according to U.S. data.

...

https://www.cnbc.com/2025/07/09/trump-tariff-letters-trade.html

I like how the latest tariff letters have mostly same or lower rates as initially. He's negotiating with himself and losing.

velik_m

07-09-2025, 12:58 PM

Copper now costs way more in the U.S. than elsewhere. This could hit its economy hard

...
As U.S. prices remain elevated despite larger-than-usual inventories, the gap in U.S. Comex futures

over those on the LME has fluctuated between $500 and $1,500 since Trump announced a probe into copper in February. Historically, that rate has been near-zero, and was around the $150 level in 2024.

Prices on the Shanghai Metals Market, meanwhile, have been similar to those on the LME.

On Tuesday, the Comex-LME price premium soared by 138%, moving above $2,600 a tonne, according to London-based agency Benchmark Mineral Intelligence.

...

This huge discrepancy will start to have a major economic impact, Daan de Jonge, Benchmark’s lead analyst for copper demand and prices, told CNBC.

“On household spending, if you’re buying a new fridge, air conditioner, car, everything is going to get more expensive, and companies could reasonably be expected to pass that on,” he said. Depending on the final baseline tariff rates, U.S. consumers could opt to buy goods produced more cheaply abroad due to that impact.

“If we’re looking at public investment, U.S. debt has got more expensive, the dollar is declining, and now you’re getting a major raw material cost increase for infrastructure investments ... I’d expect that to start showing employment effects.”

Another side effect may be that projects start to swap copper for cheaper aluminum, which in some cases can be used as a replacement, though it is heavier and more expensive to maintain in the long run, de Jonge said.

...

“There’s a reality that has to be dealt with, and the price of copper with a 50% tariff is not going to mean copper production in the U.S. goes through the roof tomorrow.”

Chase said U.S. consumers and businesses will feel an immediate impact, and it will likely hit the U.S.’s AI infrastructure build-out plans.

Analysts at Citi, meanwhile, called Tuesday a “watershed moment for the copper market in 2025.”

“Imminent flagged tariff implementation should abruptly close the window for further significant U.S.-bound copper shipments (possibly for the rest of 2025),” they said in a Wednesday note, saying this would cause a pullback in ex-U.S. pricing.

...

https://www.cnbc.com/2025/07/09/us-copper-price-premium-economic-consequences.html

Blake

07-09-2025, 01:01 PM

Trump and co. still have no idea what the goal is.

1942994211512660277

https://x.com/Acyn/status/1942994211512660277

Wtf is Sinha's official title there on his name card?

Winehole23

07-09-2025, 02:17 PM

TACO TUESDAY

* MEXICAN PRESIDENT SAYS "LET'S WAIT" WHEN ASKED ABOUT TRUMP'S TARIFFS ON COPPER IMPORTS

ChumpDumper

07-09-2025, 02:19 PM

Let's wait -- Trump hasn't had a chance to TACO this because no one told him about it.

Winehole23

07-09-2025, 03:32 PM

the US doesn't run a trade deficit versus Brazil, but Trump does have a grudge about how the Bolsonaro attempted coup went down, as well as a highly contrived one about free expression

*TRUMP TO IMPOSE 50% TARIFF ON GOODS FROM BRAZIL

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:pnx2fjuannbdpy3337ggthpp/bafkreichazwza54ditipjnjmer65e7sjgmis5f3xhaqgcqi5q vnrfwb2nq@jpeg

Blake

07-09-2025, 04:00 PM

Winehole23

07-09-2025, 04:17 PM

Does he have a 10 tenth grader type this for him?the house style is tediously overbearing, like its leader

btw

how much do you like coffee, beef and orange juice?

Blake

07-09-2025, 04:44 PM

the house style is tediously overbearing, like its leader

btw

how much do you like coffee, beef and orange juice?

$10 Starbucks cup of coffee coming soon I guess.

Even if the big bags of coffee at Sam's Club go up, I'm still going to get it. I love coffee, I make it better than any lousy shop does, and I'm willing to pay.

The point is made though. I love a great steak every now but that's definitely something I can live without. Hell in a roundabout way we might all be better off with less beef but that's a different thing.

Winehole23

07-10-2025, 07:15 AM

$10 Starbucks cup of coffee coming soon I guess.

Even if the big bags of coffee at Sam's Club go up, I'm still going to get it. I love coffee, I make it better than any lousy shop does, and I'm willing to pay.

The point is made though. I love a great steak every now but that's definitely something I can live without. Hell in a roundabout way we might all be better off with less beef but that's a different thing.I don't think there's any legal basis for the president laying tariffs for political reasons, but who'll stop him or the 10,000 other illegal things Trump is doing?

Winehole23

07-10-2025, 07:21 AM

every time Trump opens his mouth, someone who knows what he was going to say beforehand gets rich

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4lx6nur5wstwoc4wtgj56kyu/bafkreia5i43hn7kw3eyredhfjzca7g52v5lkbfyvx6yh74fzr mv2xctx2u@jpeg

Winehole23

07-11-2025, 10:00 AM

Trump is talking about raising the tariff baseline to 15%-20%

Trump insiders front run the market every time

https://www.rawstory.com/trump-tariffs-2673068454/

Winehole23

07-11-2025, 10:46 AM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4lx6nur5wstwoc4wtgj56kyu/bafkreicahbvkuszwvvy4kjrvnewkyvgsmpmbs7ekmj3ucch5i lbtjluiii@jpeg

koriwhat

07-11-2025, 11:36 AM

Echo chamber of limp wrist leftists! :lmao

Winehole23

07-11-2025, 12:33 PM

with the tariff letter, Trump just recognized Myanmar's dictatorship

which thanked him for it

Myanmar’s military leader has praised Donald Trump (https://www.theguardian.com/us-news/donaldtrump) and asked him to lift sanctions, as the junta sought to capitalise on a tariff letter from the US president believed to be Washington’s first public recognition of its rule.

Min Aung Hlaing, who has been in power since a 2021 coup (https://www.theguardian.com/world/2022/sep/19/myanmar-coup-2021-explained-in-30-seconds), expressed his “sincere appreciation” for Trump’s letter, which threatened a tariff of 40% on its goods, and commended the US president for his “strong leadership” and for guiding the US “toward national prosperity with the spirit of a true patriot”.

US diplomats do not officially engage with Min Aung Hlaing or the ruling junta, which seized power from the elected government of Aung San Suu Kyi. It was among a tranche of almost identical letters sent by Trump to world leaders on Monday.

“This is the first public formal recognition that I’ve seen,” said Richard Horsey, a senior Myanmar (https://www.theguardian.com/world/myanmar) adviser for the International Crisis Group, describing it as “a gift to the regime”.
https://www.theguardian.com/world/2025/jul/11/myanmar-military-leader-min-aung-hlaing-praises-donald-trump

SnakeBoy

07-11-2025, 03:43 PM

https://x.com/KobeissiLetter/status/1943735384518615230

ChumpDumper

07-11-2025, 03:51 PM

https://x.com/KobeissiLetter/status/1943735384518615230

What's the surplus projected to be the next ten years?

Or is another one of those things you will never talk about?

Blake

07-11-2025, 04:10 PM

https://x.com/KobeissiLetter/status/1943735384518615230

Guess who will end up paying for that surplus

Winehole23

07-11-2025, 10:24 PM

Trump laid the largest business tax ever in the USA by decree

Sanke Boy is crowing about new tax revenues being collected from US importers

Winehole23

07-11-2025, 10:29 PM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:ekts44pfepbmryv2h633onqu/bafkreigs3bhstxib2e7d2ugtdsgrd6r3h6omxs6re3jddmxet qm4ifynfi@jpeg

Winehole23

07-12-2025, 08:24 AM

how is the US trade deficit with the EU a national security emergency?

how is the gigantic US appetite for narcotics Mexico's fault?

President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico.

Trump announced the tariffs on two of the United States’ biggest trade partners in letters posted to his social media account.

In his letter to Mexico’s leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States.

But he said the country has not done enough to stop North America from turning into a “Narco-Trafficking Playground.”

Trump in his letter to the European Union said that the U.S. trade deficit was a national security threat.
https://apnews.com/article/trump-tariffs-eu-mexico-66bf84d97dcd69bbd1f1108e42283afd

Winehole23

07-12-2025, 08:28 AM

Trump's extorting every country in the world at the same time must have some intended benefits that overcome the obvious drawbacks -- what are they?

velik_m

07-12-2025, 10:23 AM

Trump announces 30% tariffs on EU and Mexico, starting Aug. 1

President Donald Trump said Saturday the U.S. will impose a 30% tariff on goods from the European Union and Mexico that will take effect on Aug. 1.

Trump revealed the new rates in letters to European Commission President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum, which he posted on his social media site Truth Social.

“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump wrote to Sheinbaum.

Trump said that there will not be tariffs on goods from the EU if the 27-member bloc, “or companies within the EU, decide to build or manufacture product[s] within the United States,” he wrote.

He said that if the EU or Mexico retaliates with higher tariffs, “then, whatever the number you choose to raise them by, will be added on to the 30% that we charge.”

...

https://www.cnbc.com/2025/07/12/trump-tariffs-european-union-eu-mexico-trade.html

He needed a whole week to send a couple of nearly identical letters. I guess at his age, that's about all the work and effort you can expect from him.

velik_m

07-12-2025, 10:25 AM

Trump's extorting every country in the world at the same time must have some intended benefits that overcome the obvious drawbacks -- what are they?

He's not extorting the countries, because the American taxpayers pay the tariffs.

Winehole23

07-12-2025, 12:35 PM

He's not extorting the countries, because the American taxpayers pay the tariffs.oh, it affects the targeted countries too

Trump just wrecked Lesotho

Winehole23

07-14-2025, 07:26 AM

this just isn't true

Japan imports ~$15B dollars/year worth of US ag imports

and there aren't significant trade barriers for US automobiles -- they're too big, too uneconomical and too unsafe for the Japanese market

Trump thinks the stuff he saw on TV forty years ago is still true

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:ddvus7otnqtlh7fdooxm6qat/bafkreibv4ffqcnqaeri36pigrcic3gx3flp4xgcgejrfs7nq7 krjq47pd4@jpeg

Winehole23

07-14-2025, 07:29 AM

this graph is related to the price of your cookout

Trump's tariff on Brazil just made it worse

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:z6rujpf4u56jfie7aqic2nfg/bafkreifanvvrcerez74qokkmdzrq7aoggzoat7fvatphuyv2n v3kmfv2ui@jpeg

velik_m

07-14-2025, 12:59 PM

The coming rare earths war China has the advantage

...

The result was an immediate slump in imports. At the start of May, America’s auto-industry representatives wrote to four Trump administration officials, warning of imminent disruption to the sector. Within days, the President had reversed course, albeit dressing up the agreement in Geneva as a “historic trade win”. When that truce failed, Trump’s officials blamed China for not delivering on the rare earth measures. The economic pressure China was placing on the US and European economies became highly visible. In early June, Ford revealed that it had halted production at several factories the previous month because of a shortage of rare earth magnets. Meanwhile, the European Commissioner for Trade and Economic Security, Maroš Šefčovič, complained the EU car industry faced an “alarming situation”. In boasting about a second agreement desperately struck in London on 11 June, Trump emphasised that this time China would supply rare earths “up front”. Still, supply remained tight, requiring the administration to seek a third agreement within little over a month, with uncertainty throughout over samarium imports, even as the situation eased for car makers.

...

Such is the scale of the present emergency, the Pentagon has agreed this month to become MP Materials’ largest shareholder. This injection of federal capital will fund a second magnet plant. Explaining the deal, MP Materials’ CEO said it is the means required to defeat “Chinese mercantilism”. The question is whether this move will be any more effective than the executive order Trump issued in 2020 to build domestic capacity for the same reason and which did nothing to avert the current crisis.

If the damage China can cause as an exporter is now as clear as crystal, the significance of China’s own need for rare earths is still underrated. Back in 2010, most consumption occurred in Japan and the United States. But Made in China 2025 was in this respect, as in so much else, transformative. Almost all the 10 sectors identified in Xi Jinping’s decade-long strategy to make China a high-tech manufacturing superpower relied on rare earths or rare earth magnets. Realising that objective has made China a net importer of rare earths. This change renders China a competitor for the United States in developing new mining as Washington urgently seeks to escape reliance on China.

At the moment, more than half of China’s imports come from Myanmar, which is relatively rich in the heavier rare earths. This dependency embroils China in Myanmar’s political instability, especially since the Kachin Independence Army — the northern armed rebels seeking autonomy — seized control of the country’s main mines in 2024. Even as China has inflicted rare earth pain on Western countries this year, it has faced its own sharp decline in imports. Consequently, China too wants new rare earth opportunities.

...

https://unherd.com/2025/07/china-is-winning-the-rare-earths-war/

SnakeBoy

07-14-2025, 05:31 PM

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:ekts44pfepbmryv2h633onqu/bafkreigs3bhstxib2e7d2ugtdsgrd6r3h6omxs6re3jddmxet qm4ifynfi@jpeg

Any updates? What happened?

ChumpDumper

07-14-2025, 05:31 PM

Any updates? What happened?

You guys figure out what the tariffs are for yet?

Blake

07-14-2025, 05:38 PM

Any updates? What happened?

Yeah they realized Trump is just gonna chicken out again

velik_m

07-15-2025, 09:27 AM

https://x.com/factpostnews/status/1944803650955628766

velik_m

07-15-2025, 09:32 AM

Inflation accelerated in June. Is the 'tariff shock' finally here?

...
Already, prices are increasing on some categories of consumer goods potentially impacted by tariffs. Apparel prices rose by 0.4% in June. Furniture prices rose by 1%. Prices on video and audio products increased by 1.1%. Toy prices rose by 1.8%.

Sooner or later, most economists expect the import taxes to lift the inflation rate, as retailers pass their costs on to American consumers. The June inflation report may be an early sign of that effect.

"This marks the first inflation report where tariffs are beginning to show up materially in key categories — from appliances and furnishings to apparel and groceries," said Daniel Hornung, senior fellow at MIT and former deputy director of the National Economic Council, in a written comment. "But it is unlikely to be the last: Tariffs will likely increase prices more dramatically in the months ahead, as businesses work through their inventories from pre-tariff imports."

The Federal Reserve aims for an annual inflation rate of 2%, a figure sufficiently low that consumers don’t really notice it. The central bankers don’t expect to reach that goal any time soon, and tariffs are the main reason.

“Were it not for the tariff shock, US inflation would likely have hit the Fed’s 2% target this year,” said Seema Shah, chief global strategist at Principal Asset Management, in a written comment.

...

https://www.usatoday.com/story/money/2025/07/15/inflation-accelerated-june-tariffs/85198190007/

velik_m

07-15-2025, 09:34 AM

China Emerges From Trade Chaos With Record Exports, Surplus

(Bloomberg) -- China ended the first half of the year with a record trade surplus of about $586 billion after exports to the US began to stabilize, with factories riding out the tariff rollercoaster that upended global commerce.

Exports rose 5.8% in June from a year earlier to $325 billion, exceeding the median estimate in a Bloomberg survey of analysts. Imports rose 1.1% to grow for the first time since February, according to data from the General Administration of Customs on Monday.

Shipments to the US fell 16.1% from a year earlier after slumping by over 34% in May. Chinese firms were able to increase their sales in other markets to compensate for the drop to the US, with exports to the 10 Southeast Asian nations in the Asean group soaring 17% from a year earlier.

“China’s trade resisted pressure and progressed in the first half of the year,” Wang Lingjun, deputy head of the customs agency, said at a press briefing. “But we need to note that unilateralism and protectionism are on the rise globally, and the external environment is becoming more complex, grim and uncertain.”

...

https://finance.yahoo.com/news/china-export-growth-picks-fragile-040846901.html

Blake

07-15-2025, 08:06 PM

https://x.com/factpostnews/status/1944803650955628766

Wtf incoherent babbling again?

BUT AT LEAST HE'S NOT ZOMBIE BIDEN AMIRITE

Blake

07-15-2025, 08:07 PM

https://www.usatoday.com/story/money/2025/07/15/inflation-accelerated-june-tariffs/85198190007/

No, I don't think tariff shock has completely arrived yet.

TSA

07-16-2025, 09:36 AM

Donald Trump reaps $50bn tariff haul as world ‘chickens out’

https://www.ft.com/content/82e32f7c-47e2-4e96-bb53-a58377e18aa9

TSA

07-16-2025, 09:41 AM

US and EU firms strike major gas deal as trade talks hit crunch time

One of Europe’s largest energy companies has signed a multi-decade agreement to buy American natural gas, as U.S. President Donald Trump calls on the continent to boost imports to avoid hard-hitting tariffs.

In a statement shared with POLITICO, Italian firm ENI and Virginia-headquartered exporter Venture Global confirmed they had penned a 20-year deal to ship 2 million metric tons of liquefied natural gas (LNG) per year. The announcement marks the first long-term contract signed between ENI and a U.S. gas producer.

“This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution,” said Mike Sabel, CEO of Venture Global.

https://www.politico.eu/article/us-and-eu-firms-strike-major-gas-deal-as-trade-talks-hit-crunch-time/

ChumpDumper

07-16-2025, 09:49 AM

Donald Trump reaps $50bn tariff haul as world ‘chickens out’

https://www.ft.com/content/82e32f7c-47e2-4e96-bb53-a58377e18aa9

Another $50 billion tax hike on Americans!

SnakeBoy

07-16-2025, 10:09 AM

Donald Trump reaps $50bn tariff haul as world ‘chickens out’

https://www.ft.com/content/82e32f7c-47e2-4e96-bb53-a58377e18aa9

WACO

TSA

07-16-2025, 10:18 AM

WACO

They are having to eat it too lol

"The cost of Mr Trump’s tariffs are also not falling solely on American consumers, supply chain experts say, as international brands look to spread the impact of cost increases around the globe to minimise the impact on the US market.

Simon Geale, executive vice-president at Proxima, a supply chain consultancy owned by Bain & Company, said big brands such as Apple, Adidas and Mercedes would look to mitigate the impact of price increases.

“Global brands can try and swallow some of the tariff cost through smart sourcing and cost savings but the majority will have to be distributed across other markets, because US consumers might swallow a 5 per cent increase, but not 20 or even 40,” Mr Geale said.

Despite US tariffs hitting levels not seen since the 1930s, the timidity of the global response to Mr Trump has forestalled a retaliatory spiral of the kind that decimated global trade between the first and second world wars.

Economists said the US’s dominant position as the world’s largest consumer market, coupled with Mr Trump’s threats to redouble tariffs on states that defy him, meant that for most countries the decision to “chicken out” was not cowardice, but economic common sense."

Blake

07-16-2025, 10:28 AM

They are having to eat it too lol

"The cost of Mr Trump’s tariffs are also not falling solely on American consumers, supply chain experts say, as international brands look to spread the impact of cost increases around the globe to minimise the impact on the US market.

Simon Geale, executive vice-president at Proxima, a supply chain consultancy owned by Bain & Company, said big brands such as Apple, Adidas and Mercedes would look to mitigate the impact of price increases.

“Global brands can try and swallow some of the tariff cost through smart sourcing and cost savings but the majority will have to be distributed across other markets, because US consumers might swallow a 5 per cent increase, but not 20 or even 40,” Mr Geale said.

Despite US tariffs hitting levels not seen since the 1930s, the timidity of the global response to Mr Trump has forestalled a retaliatory spiral of the kind that decimated global trade between the first and second world wars.

Economists said the US’s dominant position as the world’s largest consumer market, coupled with Mr Trump’s threats to redouble tariffs on states that defy him, meant that for most countries the decision to “chicken out” was not cowardice, but economic common sense."

"More than 80 leading US footwear companies, including Nike, Adidas, and Skechers, addressed a letter to Trump urging him to protect their goods from tariffs.

"Our industry is uniquely vulnerable," the letter states.

"With some of the highest tariff rates already in place—especially on children's and low-cost shoes—these new tariffs are simply unsustainable. They won't bring manufacturing back, but they will hurt families at the register."....

....The letter calls the situation an "emergency that requires immediate action and attention," warning that US footwear workers and consumers will suffer, citing concerns about imminent footwear job losses, added costs for consumers, and reduced consumer spending...."

https://www.businessinsider.com/footwear-brands-urge-trump-to-exempt-shoes-from-tariffs-2025-5

Why are you idiots cheering for higher costs at the register?

ChumpDumper

07-16-2025, 10:40 AM

:lol TSA fapping to 5% inflation. "It's not 40%!"

SnakeBoy

07-16-2025, 03:57 PM

"More than 80 leading US footwear companies, including Nike, Adidas, and Skechers, addressed a letter to Trump urging him to protect their goods from tariffs.

"Our industry is uniquely vulnerable," the letter states.

"With some of the highest tariff rates already in place—especially on children's and low-cost shoes—these new tariffs are simply unsustainable. They won't bring manufacturing back, but they will hurt families at the register."....

....The letter calls the situation an "emergency that requires immediate action and attention," warning that US footwear workers and consumers will suffer, citing concerns about imminent footwear job losses, added costs for consumers, and reduced consumer spending...."

https://www.businessinsider.com/footwear-brands-urge-trump-to-exempt-shoes-from-tariffs-2025-5

Why are you idiots cheering for higher costs at the register?

muh sneakers

Blake

07-16-2025, 04:31 PM

muh sneakers

You forgot 'muh tomatoes'.

SnakeBoy never buys anything

Winehole23

07-17-2025, 09:05 AM

every time Trump jawbones the market, his corrupt cronies get richer

I wonder if Trump is getting any kickbacks

1945539526698369193

velik_m

07-21-2025, 12:25 PM

U.S. firms scramble to secure rare-earth magnets — imports from China surge 660%

China’s exports of rare-earth magnets to the United States in June surged more than seven times from the prior month, as American firms clamor to get hold of the critical elements following a preliminary Sino-U.S. trade deal.

In April, Beijing placed restrictions on several critical magnets, used in advanced tech such as electric vehicles, wind turbines and MRI machines, requiring firms to receive licenses for export. The move was seen as retaliation against U.S. President Donald Trump’s steep tariffs on China.

Beijing has a stranglehold on the production of rare-earth magnets, with an estimated 90% of the market, as well as a similar hold on the refining of rare-earth elements, which are used to make magnets.

The U.S. received about 353 metric tons of rare-earth permanent magnets in June, up 660% from the previous month, data released by China’s General Administration of Customs showed, though the exports were about half that from June last year.

...

https://www.cnbc.com/2025/07/21/rare-earth-magnets-china-exports-surge.html

TSA

07-21-2025, 12:30 PM

You forgot 'muh tomatoes'.

SnakeBoy never buys anything

https://x.com/EricLDaugh/status/1947289932449394865

:lol Blake Cramer

ChumpDumper

07-21-2025, 12:42 PM

https://x.com/EricLDaugh/status/1947289932449394865

:lol Blake Cramer

What does that even mean?

Was he not selling tomatoes before?

Were they rotting in boxes or on the vine because he couldn't get buyers?

Please give us an update on ground beef since you're really following everything closely and want to give everyone a complete picture of what's going on.

Blake

07-21-2025, 12:46 PM

https://x.com/EricLDaugh/status/1947289932449394865

:lol Blake Cramer

:lol tsa. You get so much shit wrong almost every time you post you're a laughing stock here. Keep trying :tu

ChumpDumper

07-21-2025, 12:48 PM

A tomato farmer gets sales calls for tomatoes.

STUNNING VINDICATION

ChumpDumper

07-21-2025, 12:50 PM

Didn't TSA brag about dodging agricultural import duties and/or tariffs in his work?

TSA

07-21-2025, 01:12 PM

:lol tsa. You get so much shit wrong almost every time you post you're a laughing stock here. Keep trying :tu

Peak projection here :rollin

ChumpDumper

07-21-2025, 01:17 PM

I don't remember Blake's ever declaring he received special secret coded messages from the president but I'm willing to look at some links if they're available.

Blake

07-21-2025, 01:48 PM

Peak projection here :rollin

Give your opinion. Will tomato prices go up because of tariffs?

And oh yeah bonus question, if Trump is deporting all of the workers, who will be left to pick the tomatoes?

Blake

07-21-2025, 01:54 PM

I don't remember Blake's ever declaring he received special secret coded messages from the president but I'm willing to look at some links if they're available.

The one I got said "DRINK YOUR OVALTINE"

koriwhat

07-21-2025, 02:30 PM

Peak projection here :rollin

That's all these "men" do here is project. Remember Fuzzy calling me an incel, yeah... :lmao

Dod01 claiming I use ChatGPT because he's too dense for my very limited vocabulary?: lol

So many examples it's pathetic.

Winehole23

07-21-2025, 10:29 PM

quite the hickey for US imports

this is from Bloomberg

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:ldb6hx3aef2vhrctg2xdepjw/bafkreicinvxb55s5jcnnyipllyep4lnkb5lu5v2amfkrohbqb kzanxxsve@jpeg

velik_m

07-22-2025, 02:37 PM

https://x.com/Acyn/status/1947485910783955188

Winehole23

07-22-2025, 08:03 PM

Bragging about raising taxes on Americans -- the biggest tax hike in US history

US importers and retailers will pass the cost along to consumers, it's inherently inflationary

To the extent that the added costs will tend to destroy demand for imports that are not readily replaceable, jobs will be lost and businesses will go bankrupt

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:nyjm4ylfid2a7mjm6varxuiq/bafkreid6oeiiv7n62xjeqzogia3hnglnnsw4e4g2t2rdywdyh zjuzhcczy@jpeg

Winehole23

07-23-2025, 08:47 AM

tariff otaku can alter the so-called deal anytime he wants, so there's no telling where we'll actually end up

https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4lx6nur5wstwoc4wtgj56kyu/bafkreiekkitgy2fq6lhlsc4micbic7w375v5h336wjq2l2tvl ac6jlxapa@jpeg

Blake

07-23-2025, 09:28 AM

velik_m

07-23-2025, 09:54 AM

GM says Trump tariffs knocked $1.1bn off its operating income last quarter

General Motors announced on Tuesday that Donald Trump’s tariffs knocked $1.1bn off its operating income in its last quarter.

The US automaker’s second-quarter core profit fell 32% to $3bn and said it expected the tariff impact to worsen in the third quarter. The company stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn to $5bn. GM said it could take steps to mitigate at least 30% of that impact.

The automaker’s revenue in the quarter ending on 30 June fell nearly 2% to about $47bn from a year ago. Shares fell about 3% in premarket trade.

Nearly 1 million workers in the US are employed in the automotive manufacturing industry, with GM the largest US auto manufacturer by market share. GM employs about 162,000 people globally.

...

Beyond tariffs, GM’s underlying business in the quarter was solid. Sales in the US market – its main profit center – rose 7%, while the company continued to command strong pricing on its pickup trucks and SUVs. GM swung back to a small profit in China, after losing money there a year earlier.

Jeep-maker Stellantis on Monday warned that tariffs would significantly affect results in the second half of 2025, and said tariffs cost it about $350m.

The falls come as US inflation rose in June 2025 to 2.7% from 2.4% in May, as companies have raised prices in response to tariff rates implemented by the Trump administration.

https://www.theguardian.com/business/2025/jul/22/gm-earnings-profits-trump-tariffs