Will TACO fold again?

[velik_m]

The tariff clock is ticking with just two weeks left

...
Driving the news: The "Liberation Day" tariff pause ends on July 8.

* President Trump threatened that 50% tariffs on European goods would come a day later, assuming no deal, as well as the restart of substantial tariffs against dozens of other countries.

The big picture: Financial markets aren't as panicky now as they were three months ago. The "Trump Always Chickens Out" (TACO) trade has shown that.

* Stocks are up about 20% since the pause went in place, shrugging off the trade war, actual war in the Middle East, and lingering doubts about the place of the U.S. economy in the world.
* But even if markets aren't nervous, and even if consumers are now more upbeat than they were in the spring, businesses are getting more anxious than ever about what comes next.
* Apollo chief economist Torsten Slok, in a new paper this week, predicts tariffs mean a 25% chance of recession in the next 12 months, and even if that doesn't happen, they'll still mean higher-for-longer interest rates.
...



https://www.axios.com/2025/06/25/trump-tariffs-china-mexico-canada

[velik_m]

India-US trade talks collapse over tariff disputes

TRADE talks between India and the US have hit a roadblock over disagreements on import duties for auto components, steel and farm goods, Indian officials with direct knowledge said, dashing hopes of reaching a deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

The deadlock marks a sharp shift from earlier optimism, following Trump's claim that New Delhi had proposed a "no tariffs" agreement for American goods, and officials from both sides suggesting India could be among the first countries to strike a deal on the new US tariffs.

India is pushing for a rollback of the proposed 26 per cent reciprocal tariff set to take effect on July 9, along with concessions on existing US tariffs on steel and auto parts. But US negotiators have not yet agreed to the demands, three Indian government officials said.

"The US side first wants India to commit to deeper import tariff cuts on farm goods like soybeans and corn, cars and alcoholic beverages along with easing of non-tariff barriers," leading to disagreement between the two sides, one of the sources said.

...

Even in a worst-case scenario, a third official said, India could absorb the impact of reciprocal tariffs, citing its continued tariff advantage over competitors like Vietnam and China.

India's exports to the US rose to $17.25bn (£13.6bn) in April-May, up from $14.17bn (£11.2bn)a year earlier, suggesting the US tariff hikes averaging 10 per cent in early April had a limited impact.



https://www.easterneye.biz/india-us-trade-talks-collapse-over-tariff-disputes/

[velik_m]

Looks like he will chicken out again:


Trump trade deadlines in July ‘not critical’: White House

President Donald Trump could extend looming deadlines for reimposing steep tariffs on imports from most of the world’s countries, the White House said Thursday.

Trump’s July 8 and 9 deadlines for restarting tariffs on those nations are “not critical,” White House Press Secretary Karoline Leavitt told reporters.

“Perhaps it could be extended, but that’s a decision for the president to make,” Leavitt said.

Leavitt also said Thursday that if any of those countries refuse to make a trade deal with the United States by the deadlines, “The president can simply provide these countries with a deal.”
...



https://www.cnbc.com/2025/06/26/trump-trade-tariffs-deadline.html

[Winehole23]

Treasury Secretary Scott Bessent said on Friday that negotiations with U.S. trading partners could be “wrapped up by Labor Day,” beyond a July 8 deadline set by President Trump.

[TSA]

The tariff clock is ticking with just two weeks left

...
Driving the news: The "Liberation Day" tariff pause ends on July 8.

* President Trump threatened that 50% tariffs on European goods would come a day later, assuming no deal, as well as the restart of substantial tariffs against dozens of other countries.

The big picture: Financial markets aren't as panicky now as they were three months ago. The "Trump Always Chickens Out" (TACO) trade has shown that.

* Stocks are up about 20% since the pause went in place, shrugging off the trade war, actual war in the Middle East, and lingering doubts about the place of the U.S. economy in the world.
* But even if markets aren't nervous, and even if consumers are now more upbeat than they were in the spring, businesses are getting more anxious than ever about what comes next.
* Apollo chief economist Torsten Slok, in a new paper this week, predicts tariffs mean a 25% chance of recession in the next 12 months, and even if that doesn't happen, they'll still mean higher-for-longer interest rates.


https://www.axios.com/2025/06/25/trump-tariffs-china-mexico-canada

One of Wall Street’s top critics of President Donald Trump’s tariff blitz has now admitted the president’s unpredictable trade policy may be more calculated than chaotic, asking out loud in a new blog: “Is Trump a genius?”

Torsten Sløk, chief economist at Apollo Global Management and a consistent skeptic of the tariffs since it was announced, posted a striking about-face in his latest market note, conceding: “Maybe the administration has outsmarted all of us.”

Just months ago, Sløk warned that Trump’s escalating import duties, 10% on most goods and 30% on Chinese products, would be “certainly painful” and risked destabilizing U.S. markets. Now, with Trump’s 90-day tariff pause set to expire on July 9, Sløk is pitching a very different view: The tariffs could be a masterstroke, forcing global partners to the table while generating billions for the Treasury.

https://www.mediaite.com/media/news/top-economist-admits-trump-may-have-outsmarted-everyone-on-tariffs/

Has Trump Outsmarted Everyone on Tariffs?

As we approach the Trump administration’s self-imposed 90-day deadline for trade deals, markets are starting to speculate about what comes next. The longer uncertainty remains elevated, the more negative its impact on the economy, as shown in the chart below.

Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade.

Extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs, and it would also result in an immediate decline in uncertainty, which would be positive for business planning, employment, and financial markets.

This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers. Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.

https://www.apolloacademy.com/is-trump-a-genius/

[ChumpDumper]

No, it's stupid.

"would produce $400 billion of annual revenue for US taxpayers"

Paid by...US taxpayers....

It's another regressive sales tax.

[ChumpDumper]

Look, if it's this easy to impose tariffs, it will be just as easy to change or rescind them.

This is what you want.

This is what you will get.

[velik_m]

US Trade Deficit Surges Despite Donald Trump's Tariffs

...

The Census Bureau reported a gap of around $96.6 billion in May, up 11.1 percent compared to the $87 billion reported in April. Exports for May dropped to $179.2 billion, dropping about 5 percent (or $9.7 billion) from April, while imports were about $0.1 billion less at around $275.8 billion.

This accompanied offsetting changes in wholesale and retail inventories, which saw the former decrease by .3 percent while the latter increased at the same rate. In real dollars, that translated to end-of-month Advanced Wholesale Inventories of $905.4 billion and Advanced Retail inventories of around $806.6 billion. Both were up compared to the same month one year earlier.

...



https://www.newsweek.com/us-trade-deficit-surges-donald-trump-tariffs-2091131

[Blake]

One of Wall Street’s top critics of President Donald Trump’s tariff blitz has now admitted the president’s unpredictable trade policy may be more calculated than chaotic, asking out loud in a new blog: “Is Trump a genius?”

Torsten Sløk, chief economist at Apollo Global Management and a consistent skeptic of the tariffs since it was announced, posted a striking about-face in his latest market note, conceding: “Maybe the administration has outsmarted all of us.”

Just months ago, Sløk warned that Trump’s escalating import duties, 10% on most goods and 30% on Chinese products, would be “certainly painful” and risked destabilizing U.S. markets. Now, with Trump’s 90-day tariff pause set to expire on July 9, Sløk is pitching a very different view: The tariffs could be a masterstroke, forcing global partners to the table while generating billions for the Treasury.

https://www.mediaite.com/media/news/top-economist-admits-trump-may-have-outsmarted-everyone-on-tariffs/

Has Trump Outsmarted Everyone on Tariffs?

As we approach the Trump administration’s self-imposed 90-day deadline for trade deals, markets are starting to speculate about what comes next. The longer uncertainty remains elevated, the more negative its impact on the economy, as shown in the chart below.

Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade.

Extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs, and it would also result in an immediate decline in uncertainty, which would be positive for business planning, employment, and financial markets.

This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers. Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.

https://www.apolloacademy.com/is-trump-a-genius/

Lol no it's not 4d chess no matter how many times you guys want it to be. He's really just an idiot and so are you.

[ChumpDumper]

:lol Trumptards keep doing backflips for this moron.

Why?

[DMX7]

I once heard a liberal commentator say that it was in the best interest of the United States to run very big trade deficits because countries that traded with us used the money we paid them to buy our treasuries enabling us to go into virtually unlimited debt without any real negative effects. No wonder we have $37 trillion in debt. Because we've had people this stupid in our country.

[DMX7]

Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade.

Extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs, and it would also result in an immediate decline in uncertainty, which would be positive for business planning, employment, and financial markets.

This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers. Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.


We should have done this a long time ago, but most other countries realized we would just accept nearly all unfair tariffs and other trade practices imposed against us... until now.

[ChumpDumper]

Oh look, DMX7 stanning for Trump again.

[Blake]

:lol Trumptards keep doing backflips for this moron.

Why?

Anything for lib tears!

[DMX7]

Oh look, DMX7 stanning for Trump again.

So what? I'll stand against him on the things I disagree with him on. I literally voted for Harris, but I don't take marching orders from the DNC or RNC like you.

[ChumpDumper]

So what? I'll stand against him on the things I disagree with him on. I literally voted for Harris, but I don't take marching orders from the DNC or RNC like you.You're for a high regressive sales tax on all imports?

Was that your Berniebro stance?

[DMX7]

You're for a high regressive sales tax on all imports?

Was that your Berniebro stance?

Generally speaking, I think 30% tariffs for China and 10% tariffs for other countries is ideal with some industry specific exemptions that may make sense. So far companies are clearly not passing on all of the tariffs to customers. I do think we'll see more of it, but the benefits to domestic industry and the tax revenue are worth it to me.

[velik_m]

Trump ending all trade talks with Canada ‘immediately’

U.S. President Donald Trump says his team is ending all trade talks with Canada, “effective immediately,” citing disagreement over Canada’s controversial digital services tax as the reason for shutting down negotiations.

He made the announcement in a post Friday on Truth Social, calling the levy “a direct and blatant attack” on the U.S. and its technology companies.

Trump’s announcement is a wrench in ongoing trade discussions between the two countries, which have been in the throes of a trade war for months, since the president’s first slate of tariffs on Canadian goods in February.

Trump has since levied a series of sweeping and stacked tariffs on Canadian products, targeting a range of industries. Canadian countermeasures are also in place.

Following the G7 meetings in Kananaskis, Alta. earlier this month, Trump and Prime Minister Mark Carney said they would pursue negotiations toward a new trade and security deal by mid-July, a 30-day deadline from their discussions in the Rockies.
...



https://www.ctvnews.ca/politics/article/trump-ending-all-trade-talks-with-canada-immediately/

So emotional.

[ChumpDumper]

Generally speaking, I think 30% tariffs for China and 10% tariffs for other countries is ideal with some industry specific exemptions that may make sense. So far companies are clearly not passing on all of the tariffs to customers. I do think we'll see more of it, but the benefits to domestic industry and the tax revenue are worth it to me.
Which domestic industries?

Phones?

Televisions?

Textiles?

Furniture?

[DMX7]

Which domestic industries?

Phones?

Televisions?

Textiles?

Furniture?

Autos, semiconductors, appliances, pharmaceuticals... there are plenty.

[Winehole23]

Generally speaking, I think 30% tariffs for China and 10% tariffs for other countries is ideal with some industry specific exemptions that may make sense. So far companies are clearly not passing on all of the tariffs to customers. I do think we'll see more of it, but the benefits to domestic industry and the tax revenue are worth it to me.why do you think these historically extreme tariff levels make sense?

[ChumpDumper]

Autos, semiconductors, appliances, pharmaceuticals... there are plenty.So you want everyone to pay more for all those plenty things?

[TSA]

Lol no it's not 4d chess no matter how many times you guys want it to be. He's really just an idiot and so are you.

You can call me an idiot all you want as if it means anything coming from you, an actual idiot. I expose your stupidity here day after day after day and all you can do is lash out and project. :lol

[ChumpDumper]

TSAnon still trying to ignore his history of believing the stupidest shit ever posted on this board.

[DMX7]

So you want everyone to pay more for all those plenty things?

You don't want jobs and tax revenues?

[ChumpDumper]

You don't want jobs and tax revenues?We had those without your dumbass tariffs.

[DMX7]

ABC News 6/26/25: GE Appliances (Owned by CHINA!) moves some production from China to Kentucky with $490M investment

https://abcnews.go.com/Business/wireStory/ge-appliances-moves-washing-machine-production-china-kentucky-123235653

[DMX7]

We had those without your dumbass tariffs.

The country is going broke.

[ChumpDumper]

ABC News 6/26/25: GE Appliances (Owned by CHINA!) moves some production from China to Kentucky with $490M investment

https://abcnews.go.com/Business/wireStory/ge-appliances-moves-washing-machine-production-china-kentucky-123235653

How much more will they cost?

[ChumpDumper]

The country is going broke.

Nope.

It's taxing the wrong people the wrong rates.

[DMX7]

How much more will they cost?

I think you and most people will be just fine.

[ChumpDumper]

I think you and most people will be just fine.That is not an answer.

How much more will they cost?

[SnakeBoy]

You're for a high regressive sales tax on all imports?

Was that your Berniebro stance?

What was your Bidenbro stance?

[ChumpDumper]

What was your Bidenbro stance?
Not chaos.

:lol you can't even say you support Trump's policies and actions.

#SnacksSoScared

[SnakeBoy]

BofA's take on the poll question

Tariffs and tax cuts are inextricably linked
We have long held the view that one of the goals of the impending fiscal package is to offset the growth headwind from tariffs. The key question is around timing: will fiscal stimulus arrive soon enough to head off a tariff-driven slowdown? With both Republicans' target date for the fiscal bill (July 4) and the end of the 90-day pause on the 'Liberation Day' tariffs (July 9) looming, this "timing problem" sets up some interesting permutations over the next two weeks.
"Bad" news on fiscal could mean good news on tariffs…
Our base case is that it will take until late July for the OBBBA to get passed. If that's correct (in particular, if the bill isn't done by July 9), we see a greater chance of a blanket extension of the tariff pause. The administration might prefer to revisit the April 2 tariff rates, which were close to embargo levels for some countries, after locking in a tailwind from fiscal stimulus.
… But good news on fiscal could mean bad news on tariffs
But if the tax bill gets passed by July 4, we think investors should brace themselves for a bumpy ride around the July 9 deadline. The administration might then feel more emboldened to up the ante on tariffs, particularly against countries or regions it feels have not negotiated in "good faith" (to quote Treasury Secretary Bessent). Among the US's major trade allies, the EU appears most vulnerable to higher tariffs as it seems to have made the least progress in trade negotiations.

[DMX7]

That is not an answer.

How much more will they cost?

You're going to find out soon enough and I think you're going to be just fine... just fine.

[ChumpDumper]

You're going to find out soon enough and I think you're going to be just fine... just fine.
But this does nothing for your claimed debt concerns.

It's all for nothing.

That won't be just fine, will it?

You make no sense.

[ChumpDumper]

BofA's take on the poll question

Tariffs and tax cuts are inextricably linked
We have long held the view that one of the goals of the impending fiscal package is to offset the growth headwind from tariffs. The key question is around timing: will fiscal stimulus arrive soon enough to head off a tariff-driven slowdown? With both Republicans' target date for the fiscal bill (July 4) and the end of the 90-day pause on the 'Liberation Day' tariffs (July 9) looming, this "timing problem" sets up some interesting permutations over the next two weeks.
"Bad" news on fiscal could mean good news on tariffs…
Our base case is that it will take until late July for the OBBBA to get passed. If that's correct (in particular, if the bill isn't done by July 9), we see a greater chance of a blanket extension of the tariff pause. The administration might prefer to revisit the April 2 tariff rates, which were close to embargo levels for some countries, after locking in a tailwind from fiscal stimulus.
… But good news on fiscal could mean bad news on tariffs
But if the tax bill gets passed by July 4, we think investors should brace themselves for a bumpy ride around the July 9 deadline. The administration might then feel more emboldened to up the ante on tariffs, particularly against countries or regions it feels have not negotiated in "good faith" (to quote Treasury Secretary Bessent). Among the US's major trade allies, the EU appears most vulnerable to higher tariffs as it seems to have made the least progress in trade negotiations.Trump just said it's not a deadline.

He won't pick a lane.

[SnakeBoy]

Not chaos.

:lol you can't even say you support Trump's policies and actions.

#SnacksSoScared

lol you don't want to talk about it, you never do

[FrostKing]

Nope.

It's taxing the wrong people the wrong rates.
"These taxes are dumb but those taxes will save us"

[ChumpDumper]

lol you don't want to talk about it, you never doI just told you.

What is wrong with you?

Are you really this stupid?

[DMX7]

What was your Bidenbro stance?

Wasn't Bernie anti-NAFTA and pro-tariffs? Of course not after Trump does them.

[ChumpDumper]

"These taxes are dumb but those taxes will save us"What's your tax rate where you say you live?

[FrostKing]

What's your tax rate where you say you live?
Quite high. But if USA is to be this import paradise then I think taxes should be low.

[DMX7]

But this does nothing for your claimed debt concerns.

It's all for nothing.

That won't be just fine, will it?

You make no sense.

No, you have a really bad understanding of tariffs.

We will still import some things that are tariffed but it will also make our own industry more competitive and boost domestic industry. Still, we're not going to make EVERYYTHING on our own, so there will be tarriff revenue coming in.

I think the reason you have such a bad understanding is because you work backwards from "trump supports it so it is bad" to reasons why you think it might be bad that don't really hold water.

[ChumpDumper]

No, you have a really bad understanding of tariffs.

We will still import some things that are tariffed but it will also make our own industry more competitive and boost domestic industry. Still, we're not going to make EVERYYTHING on our own, so there will be tarriff revenue coming in.

I think the reason you have such a bad understanding is because you work backwards from "trump supports it so it is bad" to reasons why you think it might be bad that don't really hold water.
Again, you have a really bad understanding of tariffs.
What is the deficit projected to be the next ten years?

You pretend to care about it. Post the numbers.

Show your deep understanding of the US budget.

[ChumpDumper]

Quite high. But if USA is to be this import paradise then I think taxes should be low.Import paradise?

You're against the Trump tariffs?

[DMX7]

What is the deficit projected to be the next ten years?

You pretend to care about it. Post the numbers.

Show your deep understanding of the US budget.

Tarriff Revenue is not going to make the budget deficit worse, it will make it better. The other things in the budget are another issue.

[ChumpDumper]

Tarriff Revenue is not going to make the budget deficit worse, it will make it better. The other things in the budget are another issue.By being a regressive sales tax!

Hooray!

Post your numbers.

Show how much you care.

[FrostKing]

Import paradise?

You're against the Trump tariffs?
I prefer USA made. Most Americans can afford to spend a little more.

Big Picture it boosts morale. People want something to believe in and support especially without religion.

[SnakeBoy]

I just told you.


"not chaos" isn't an answer to whether you were for or against Biden keeping Trump's tariffs and then adding or expanding tariffs on ev's, solar cells, semiconductors, steel and aluminum


Wasn't Bernie anti-NAFTA and pro-tariffs? Of course not after Trump does them.

Yes, as was Nancy Pelosi. I know whinehole used to be pro tariff until Trump beat Hillary. It's really not worth debating them on the actual pros/cons of tariffs, Trump bad is their only core position.

[ChumpDumper]

I prefer USA made. Most Americans can afford to spend a little more.

Big Picture it boosts morale. People want something to believe in and support especially without religion.

But you say you don't live here and never will again.

[DMX7]

I prefer USA made. Most Americans can afford to spend a little more.

Big Picture it boosts morale. People want something to believe in and support especially without religion.

A lot of this domestic investment will create good paying full-time jobs for Americans, and those better jobs give them the ability to pay a little more for American made products.

Too many Americans are underemployed with poor paying jobs.

[DMX7]

It's really not worth debating them on the actual pros/cons of tariffs, Trump bad is their only core position.

I think you nailed it, and that's what I was saying earlier. They're working backwards from the conclusion of "Trump supports it, so it's bad" to their reason for hating it.

[Blake]

TSAnon still trying to ignore his history of believing the stupidest shit ever posted on this board.

LOL U jeS LashiNg oUt

[Blake]

I think you nailed it, and that's what I was saying earlier. They're working backwards from the conclusion of "Trump supports it, so it's bad" to their reason for hating it.

Nope. That's the lazy take on it. The tariffs he's trying to impose are stupid because there's no need for them. Why do you want to pay more for stuff when you don't have to?

[Winehole23]

"not Of course not after Trump does them.
Yes, as was Nancy Pelosi. I know whinehole used to be pro tariff until Trump beat Hillarynot that I recall, got a link for that?

[Blake]

not that I recall, got a link for that?

Lol

[Winehole23]

I think you nailed it, and that's what I was saying earlier. They're working backwards from the conclusion of "Trump supports it, so it's bad" to their reason for hating it.neither of you can explain how Trump's tariffs are supposed to work or why that's good, so there's that

[SnakeBoy]

not that I recall, got a link for that?


https://www.youtube.com/watch?v=49eJYs8aDbs

https://www.youtube.com/watch?v=LayOiPkvKBw

Pelosi was post NAFTA but same position


In a fiery 1996 speech on the House floor, Pelosi:

Opposed granting China Most Favored Nation (MFN) trade status, citing human rights abuses and unfair trade practices.

Called for reciprocal tariffs, pointing out that U.S. tariffs on Chinese goods averaged just 2%, while China imposed tariffs as high as 35% on American exports.

Warned of massive job losses, claiming that U.S.-China trade supported at least 10 million jobs in China but only 170,000 in the U.S..

Described the trade relationship as “the biggest and cruelest hoax of all” on American workers.

You know you can just ask GROK to find these things. It's fast & easy, try it old man. You can also search this forum for your own pro tariff position pre Trump.

[SnakeBoy]

neither of you can explain how Trump's tariffs are supposed to work or why that's good, so there's that

You don't know how tariffs work?

[Winehole23]

https://www.youtube.com/watch?v=49eJYs8aDbs

https://www.youtube.com/watch?v=LayOiPkvKBw

Pelosi was post NAFTA but same position



You know you can just ask GROK to find these things. It's fast & easy, try it old man. You can also search this forum for your own pro tariff position pre Trump.I wasn't on this board in 1996. I was aware of NAFTA, but mostly unaware of what Pelosi and Sanders were saying about it -- Democratic Party politics were not my thing

Not sure why you think you can read my mind on this

[Winehole23]

You don't know how tariffs work?if you're for it, it's your burden to tell how they work and how we win

[SnakeBoy]

if you're for it, it's your burden to tell how they work and how we win

Nobody is obliged to entertain your playing dumb routine

[Winehole23]

Nobody is obliged to entertain your playing dumb routineI'm not playing dumb, you're either tongue-tied or you don't know what you're talking about

[Blake]

I wasn't on this board in 1996.

:lol

[ChumpDumper]

https://www.youtube.com/watch?v=49eJYs8aDbs

https://www.youtube.com/watch?v=LayOiPkvKBw

Pelosi was post NAFTA but same position



You know you can just ask GROK to find these things. It's fast & easy, try it old man. You can also search this forum for your own pro tariff position pre Trump.

What year is it now?

Were you for NAFTA back then?

[ChumpDumper]

Nobody is obliged to entertain your playing dumb routine

You won't talk about it. You never will.

[Spurs Homer]

Dumbshit traitor: “we have been getting ripped off for decades! So unfair and now we will stop it…blah blah lie lie lie”

dumbshit traitor five seconds later: “we are doing great, richest country in the world , all is perfect now that i stole the election”

yeah…no

either we are the richest country on the planet for the last hundred years because what we had was working well…
(not perfect- but still richest on the planet)

or

trump is lying as he has done 60-80,000 times in the past 10 years…

magats: “trump cannot lie he is incapable of lying!….trump trump trump usa usa usa!”

[DMX7]

Nope. That's the lazy take on it. The tariffs he's trying to impose are stupid because there's no need for them. Why do you want to pay more for stuff when you don't have to?

Watch Nancy Pelosi's speech and if you still don't get it then you may never.

[ChumpDumper]

Watch Nancy Pelosi's speech and if you still don't get it then you may never.
Why are you not citing Reed Smoot or Willis Hawley?

A great idea is timeless, isn't it?

[Winehole23]

Watch Nancy Pelosi's speech and if you still don't get it....please describe it in your own words

can you?

[Winehole23]

the approximately total inability of horny right wing posters on this board to verbalize their own opinions

continues to amaze

[Blake]

please describe it in your own words

can you?

Never will.

[Winehole23]

You don't know how tariffs work?assume I do

go

[DarrinS]

Still trying to make cringe taco meme a thing.

[ChumpDumper]

Still trying to make cringe taco meme a thing.

He keeps doing it. We'll keep saying it.

Tough shit, tough guy.

[DMX7]

Why are you not citing Reed Smoot or Willis Hawley?

A great idea is timeless, isn't it?

I'm not advocating for 20% tariffs on all countries during a Great Depression. There's an optimal rate that is much lower and that our economy can easily handle.

[ChumpDumper]

I'm not advocating for 20% tariffs on all countries during a Great Depression. There's an optimal rate that is much lower and that our economy can easily handle.What were their reasons for wanting tariffs?

[DMX7]

What were their reasons for wanting tariffs?

Why? The economy and the financial system were in ruins. Trade policy wasn't going to quickly change that.

[Winehole23]

Why? The economy and the financial system were in ruins. Trade policy wasn't going to quickly change that.the economy and the financial system were in ruin when?

[ChumpDumper]

Why? The economy and the financial system were in ruins. Trade policy wasn't going to quickly change that.What were their reasons for wanting tariffs though?

[DMX7]

the economy and the financial system were in ruin when?

Stock market had collapsed in 1929 and set it in motion. Early 1930s was in ruins but not from trade policy, lol.

[DMX7]

What were their reasons for wanting tariffs though?

To protect from foreign competition but they went too far with rates and timed it terribly.

[ChumpDumper]

To protect from foreign competition
Oh.

but they went too far with rates and timed it terribly.
Did they think the rates and timing were wrong at the time?

[DMX7]

Oh.

Did they think the rates and timing were wrong at the time?

It's interesting how you don't ask anything about India or EU tarriff rates? Did you know a US auto import into the EU is hit with a 10% tariff? A big US motorcycle like a Harley is hit with like a 40-50% tariff entering India.

[velik_m]

No, you have a really bad understanding of tariffs.

We will still import some things that are tariffed but it will also make our own industry more competitive and boost domestic industry. Still, we're not going to make EVERYYTHING on our own, so there will be tarriff revenue coming in.

I think the reason you have such a bad understanding is because you work backwards from "trump supports it so it is bad" to reasons why you think it might be bad that don't really hold water.

Tariffs make domestic industry more competitive on domestic market, it makes them less competitive on foreign markets (which one is bigger?). Especially if you do something stupid, like tariff everything (and make materials and components more expensive for businesses that need them). It can also takes years to spin up factories, let alone entire industries. And Trump's policies just made it a lot harder to do so, because of all the uncertainties and hostility towards foreigners.

Targeted tariffs can be a useful tool, but generally work worse than subsidies as the effects are more unpredictable and often cause backlash from targeted country (which is why it's stupid to target entire world at once). They will cause a drop in consumption though, which i guess is not that bad as long as your entire current economy is not consumption oriented.

[ChumpDumper]

It's interesting how you don't ask anything about India or EU tarriff rates? Did you know a US auto import into the EU is hit with a 10% tariff?So we put a 25% tariff on their cars?

Is that better?

[DarrinS]

My 401k keeps soaring.

[DMX7]

So we put a 25% tariff on their cars?

Is that better?

We have 10% on UK car imports as a result of the trade deal. That's likely where we end up with the EU if we get a trade deal.

[ChumpDumper]

We have 10% on UK car imports as a result of the trade deal. That's likely where we end up with the EU if we get a trade deal.It already was 10%.:lol

[ChumpDumper]

My 401k keeps souring.

Why are you so miserable?

[DMX7]

Tariffs make domestic industry more competitive on domestic market, it makes them less competitive on foreign markets (which one is bigger?).

Germany sells like 2x or 3x more cars to the US than the US sells to Germany, and it's been like that in previous years despite like 4x higher EU import tariffs than US import tariffs.

[DarrinS]

Why are you so miserable?

Your side is miserable. That's why you live here.

[ChumpDumper]

Germany sells like 2x or 3x more cars to the US than the US sells to Germany, and it's been like that in previous years despite like 4x higher EU import tariffs than US import tariffs.What are you saying is the EU tariff on US cars?

[ChumpDumper]

Your side is miserable. That's why you live here.But why are you miserable?

[DarrinS]

But why are you miserable?

I'm loving everything that's happening

[ChumpDumper]

I'm loving everything that's happeningWhy are you constantly bitching?

[Blake]

Still trying to make cringe taco meme a thing.

Right, that makes you cringe but not tard Trump. Cringe priorities.

[DMX7]

It already was 10%.:lol

In previous years it was 2.5%. Trump upped it to 10% and has threatened to go higher for the EU unless they reach a deal. So I'm hoping we end at 10% with a deal.

[Winehole23]

Why are you constantly bitching?definitely not a love and good vibes guy

[Blake]

Germany sells like 2x or 3x more cars to the US than the US sells to Germany, and it's been like that in previous years despite like 4x higher EU import tariffs than US import tariffs.

Well maybe GM, Ford and Dodge should stop making crap

[Winehole23]

In previous years it was 2.5%. Trump upped it to 10% and has threatened to go higher for the EU unless they reach a deal. So I'm hoping we end at 10% with a deal.how did this work out with Smoot-Hawley?

[DMX7]

how did this work out with Smoot-Hawley?

How did 10% EU import tariffs work out for Germany's auto industry?

[Winehole23]

In previous years it was 2.5%. Trump upped it to 10% and has threatened to go higher for the EU unless they reach a deal. So I'm hoping we end at 10% with a deal.to what end?

[DMX7]

Well maybe GM, Ford and Dodge should stop making crap

They haven't been on a level playing field with European automakers. No doubt they would at least be more competitive if they had been.

[Winehole23]

How did 10% EU import tariffs work out for Germany's auto industry?i'm not familiar with the case, what happened?

[ChumpDumper]

In previous years it was 2.5%. Trump upped it to 10% and has threatened to go higher for the EU unless they reach a deal. So I'm hoping we end at 10% with a deal.It's currently 25%.

You don't seem to know what you're talking about.

[DMX7]

to what end?

To have a more level playing field, more tariffs revenue and more competitive US industry.

[DMX7]

It's currently 25%.

You don't seem to know what you're talking about.

A deal will get it lower. Didn't you just say it was already 10%? Pretty crazy that it's up to 25% -- we're hardly feeling the price increases at least at the imports I've been looking at.

[ChumpDumper]

A deal will get it lower. Didn't you just say it was already 10%?That's what the EU tariff on US cars has been all along.

Are you indeed high?

You're failing to understand simple sentences.

You don't seem to know anything about the actual tariffs.

[DMX7]

That's what the EU tariff on US cars has been all along.

Are you indeed high?

You're failing to understand simple sentences.

You don't seem to know anything about the actual tariffs.

So why aren't you complaining about their 10% then? I'm not following you at all. You only complain about us I guess.

[ChumpDumper]

So why aren't you complaining about their 10% then? I'm not following you at all. You only complain about us I guess.Ours was 10% and theirs was 10%.

What should it have been?

[DMX7]

Ours was 10% and theirs was 10%.

What should it have been?

No, ours was 2.5% until Trump changed it this year.

[velik_m]

Germany sells like 2x or 3x more cars to the US than the US sells to Germany, and it's been like that in previous years despite like 4x higher EU import tariffs than US import tariffs.

Germany is a quarter of USA's population, so if your numbers are true, they prove my point. Also Germany didn't tariff components and materials for those cars, that would be extremely stupid,

Most "German" cars sold in USA are made in the USA anyway, though Trump policies are making those factories less economical.

[ChumpDumper]

No, ours was 2.5% until Trump changed it this year.

So you think it should be 10%?

[ChumpDumper]

Should the US tariff on EU light trucks have been 25% for the past 60 years?

[DMX7]

So you think it should be 10%?

Yes.

[ChumpDumper]

Yes.

Should the US tariff on light trucks still be 25%?

[DMX7]

Should the US tariff on EU light trucks have been 25% for the past 60 years?

Yes, because that was in retaliation for other EU trade injustices. It's worked out well but that's an exceptional circumstance.

[ChumpDumper]

Yes, because that was in retaliation for other EU trade injustices.Which injustices?

[DMX7]

Which injustices?

It was originally chicken tariffs but they hit us with all kind of agriculture related crap.

[ChumpDumper]

It was originally chicken tariffs but they hit us with all kind of agriculture related crap.In 1964.

What's the EU chicken tariff now?

[DMX7]

In 1964.

What's the EU chicken tariff now?

No clue, they have plenty of stuff that is unfair to justify it regardless.

[ChumpDumper]

No clue, they have plenty of stuff that is unfair to justify it regardless.How can you say that when you admit you have no clue?

[DMX7]

How can you say that when you admit you have no clue?

Because chicken tarriff rate is immaterial compared to other unfair trade practices.

[ChumpDumper]

Because chicken tarriff rate is immaterial compared to other unfair trade practices.Which ones have lasted since 1964?

[Winehole23]

To have a more level playing field, more tariffs revenue and more competitive US industry.When you tariff industrial inputs, as Trump is doing, you have increased the cost for domestic industry now, for an indefinite future payoff

[velik_m]

It was originally chicken tariffs but they hit us with all kind of agriculture related crap.

Ah yes, the unfair practice of holding US agriculture to the same health standards as EU agriculture. US should be able to push same cheap, unhealthy crap to EU consumers as they do to US consumers. Nothing more unfair as requiring the same standards for US companies as for EU companies. Let me guess, you're also be upset when they charge the US companies the same digital services tax to them as they do to EU companies?

[velik_m]

Oh, look, a new deadline after failing to sign a single deal.


Bessent: Tariffs will ‘boomerang’ back to April levels by Aug. 1 for countries without deals

Treasury Secretary Scott Bessent said Sunday that tariffs announced back in April will take effect on Aug. 1 for countries that have not reached an agreement with President Donald Trump’s administration.

“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” Bessent said on CNN’s “State of the Union.”

On Aug. 1, countries will “get a letter saying that if we have not reached an agreement, then you will go back to the April 2 level,” he said.

Bessent rejected the idea that Aug. 1 is yet another new tariff deadline, but the August date could still give trading partners more time to renegotiate tariff rates.

“We are saying this is when it’s happening, if you want to speed things up, have at it, if you want to go back to the old rate that’s your choice,” Bessent said.

...



https://www.cnbc.com/2025/07/06/bessent-tarrifs-trump-august.html

[velik_m]

Trump says tariff letters to 12 countries signed, going out Monday

...
Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the U.S. president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union.

He touched on that briefly late on Friday, telling reporters: “The letters are better ... much easier to send a letter.”

He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline.

The shift in the White House’s strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline.

Most past trade agreements have taken years of negotiations to complete.
...



https://www.cnbc.com/2025/07/05/trump-says-tariff-letters-to-12-countries-signed-going-out-monday.html

[Blake]

https://www.cnbc.com/2025/07/05/trump-says-tariff-letters-to-12-countries-signed-going-out-monday.html

Taco time

[Winehole23]

deadlines aren't deadlines

deals aren't deals

Trump is squandering US credibility and trust

[velik_m]

https://x.com/Acyn/status/1941976912945193107

Strong "Brexit means Brexit" vibes.

[baseline bum]

Trump squandered US credibility and trust

FIFY - there is no coming back from this regime for the nation

[Winehole23]

FIFY - there is no coming back from this regime for the nationAnother way to look at this is that there's no going back to the status quo ante -- the 1787 US Constitution. Trump already overthrew it.

[velik_m]

https://x.com/Acyn/status/1942366414771479015