Tariffs in the second Trump Administration [SPLIT]

[rareboy]

Welp.

It only took a day for the markets to tell TrumpCo. that the whole thing was a total fuck-up.

Although I don't believe it will sway them from their true intent of raising regressive taxes on the ordinary American schmuck. 30 days from now we'll see more performance theatre.

I suspect that the real pressure came from the auto industry who literally faced shutdown within the week.

As I said. At least TrumpCo. insiders likely made a lot of money out of this market manipulation.

The question is...will Canada pause its tariffs and product removals?

I think this pause is just to re-tool the messaging.

Trump agrees to postpone Canada and Mexico tariffs by one month

President delays threatened 25% tariffs on US neighbors but China still to face 10% levy on exports to US from Tuesday

www.theguardian.com

 

[rareboy]

 

[KaraBulut]

...A 63% drop in sales is likely to be reflected in all markets over the next quarter.

I spoke with one of my friends in Europe over the weekend. He recently bought an electric vehicle... from China. China is now the #1 producer of electric cars. Germany is making as many electric cars as the US. With Musk's sabotage of the tax incentives, he's just empowering the Chinese car makers.


Who is buying EVs?

 

[Norri]

I spoke with one of my friends in Europe over the weekend. He recently bought an electric vehicle... from China. China is now the #1 producer of electric cars. Germany is making as many electric cars as the US. With Musk's sabotage of the tax incentives, he's just empowering the Chinese car makers.
View attachment 2903193

View attachment 2903190

Musk cannot compete on price with the electric cars coming out of China and neither can the Germans, what he needs is for those tax incentives not to apply to Chinese made cars. If those affordable Chinese cars are ever allowed to be sold in the US Tesla is in big trouble and Musk has said as much.

 

[KaraBulut]

Welp.

It only took a day for the markets to tell TrumpCo. that the whole thing was a total fuck-up.

Although I don't believe it will sway them from their true intent of raising regressive taxes on the ordinary American schmuck. 30 days from now we'll see more performance theatre.

I suspect that the real pressure came from the auto industry who literally faced shutdown within the week.

I've been doing some catchup on market editorials. You're on the money about where the pressure came from- Wall Street and Detroit. The surprise outrage was from investors in Japanese carmakers with maquiladoras in Mexico.

https://www.bloomberg.com/news/newsletters/2025-02-03/trump-s-opening-trade-war-salvo-rips-through-markets

Asian markets were the first to feel the impact of the new trade war.Photographer: Toru Hanai/Bloomberg
By Balazs Penz
February 3, 2025 at 3:00 AM CST

Financial markets are in turmoil after US President Donald Trump shocked nearly everyone by unleashing aggressive and immediate tariffs on imports from Canada, Mexico and China and threatening fresh levies on the European Union. A gauge of Asian stocks fell the most in nearly six months, the peso depreciated to its lowest level against the dollar in almost three years, while the Canadian dollar sank to its weakest since 2003. Crypto assets plunged, with Ether, the second-largest digital asset by market value, falling as much as 27%.

The biggest losers in the region include Japanese carmakers that make vehicles for the US market in Mexico, Chinese online retailers and chip exporters. Oil prices jumped on the risk of market disruptions and metals tumbled because of the threat to global growth. Trump is "like a poker player who’s betting his whole stash on the first hand,” said Steven Englander, global head of G-10 FX research at Standard Chartered. “The market just wasn’t prepared for it.”

If any of these videos can't be viewed outside of the US, let me know and I'll upload them:

 

[rareboy]

Can't see the first two.

 

[Dargelos]

All 3 work in UK

 

[KaraBulut]

Can't see the first two.

I don't know why US channels insist on blocking Canada.

These interviews were likely recorded before the markets and US CEOs freaked out over the tariffs. Moscow Mitch will go down in history as the man whose blunders of putting party before the country enabled what we're seeing happening in the 2nd Trump Administration.


View attachment 60 Minutes Interview-Trump’s former trade chief on how tariffs affect the economy-480p.mp4

View attachment 60 Minutes Interview-Mitch McConnell-480p.mp4

 

[Kulindahr]

So Fuck anyone who somehow thinks everyone isn't going to feel the pain.

I've been trying to dump some stock for two weeks now and keep getting technical difficulties.

 

[Kulindahr]

I imagine we have our sights set upon his state again.

Trump gives GOP Senate leader 'heartburn' as tariffs may 'cripple' his state: report

As President Donald Trump threatens to slap blanket tariffs on all products from Canada and Mexico, Politico reports that Sen. John Thune (R-SD) and fellow Republicans from agricultural states are getting "heartburn" as their states are most likely to suffer from such actions.As background...

www.rawstory.com

Thune has a simple way to stop Trump: tell him to stop the tariff game or no appointments -- none -- will be approved in the Senate.

 

[Kulindahr]

Once again, those companies still took the price hikes. Everything got more expensive, people lost their farms because their markets (which never came back) disappeared.

Not just farms; a couple of lumber companies in my region shut down as well.

Republicans love to sound off about God punishing America, and they can't recognize real doom when it shows up with orange hair.

 

[KaraBulut]

...Republicans love to sound off about God punishing America, and they can't recognize real doom when it shows up with orange hair.

I thought Protestant churches were obsessed with the anti-Christ, false prophets and eschatology. Or is it that they want the End Times?

 

[rareboy]

For those thinking that their Cheeto Jesus scored some kind of victory...Canada just agreed to do what Canada had announced it was doing in Decemeber 2024, with the addition of a 'Fentanyl Czar' (to monitor 43 pounds?) and Mexico just committed to keep doing what they committed to do in 2021.

I would note that Mexico did apparently get some agreement that the US would halt the flow of 400,000 illegal guns into Mexico.

 

[KaraBulut]

Remember the brouhaha over Gen Milley calling offiicials in the Chinese military to reassure them on 6-Jan-2021 that the insane man in the White House wasn't going to nuke them?

Well... a lesser known story happened during the Biden Administration when, under pressure, Biden ordered the downing a Chinese weather balloon floating over the US, including some sensitive military sites. After the balloon was shot down, it was discovered that the balloon was a weather balloon and did not transmit any intelligence to China. However, it did create a 6 month rift between the Chinese and US military, with the Chinese refusing to accept calls from the Pentagon.

Yesterday, Trump levied a 10% tariff against all Chinese goods. This means that just about everything in a Walmart and Target will be 10% more expensive. A large number of the items on Amazon will be 10% more expensive. Every cell phone and almost all computers will be 10% more expensive. Air conditioners and large appliances for you home will be more expensive.



And the Chinese are retaliating. They are imposing tariffs on the small number of things they import from the US. They're also targeting Google.

China counters with tariffs on US products. It will also investigate Google

China’s State Administration for Market Regulation on Tuesday said it is investigating Google on suspicion of violating antitrust laws.

apnews.com

China announced retaliatory tariffs on select American imports and an antitrust investigation into Google on Tuesday, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect...

China said it would implement a 15% tariff on coal and liquefied natural gas products as well as a 10% tariff on crude oil, agricultural machinery and large-engine cars imported from the U.S. The tariffs would take effect next Monday.

“The U.S.’s unilateral tariff increase seriously violates the rules of the World Trade Organization,” China’s State Council Tariff Commission said in a statement. “It is not only unhelpful in solving its own problems, but also damages normal economic and trade cooperation between China and the U.S.”...

China’s State Administration for Market Regulation said Tuesday it is investigating Google on suspicion of violating antitrust laws. The announcement did not mention the tariffs but came just minutes after Trump’s 10% tariffs on China were to take effect.

It is unclear how the probe will affect Google’s operations. The company has long faced complaints from Chinese smartphone makers over its business practices surrounding the Android operating system, Gong said.

 

[Kulindahr]

I thought Protestant churches were obsessed with the anti-Christ, false prophets and eschatology. Or is it that they want the End Times?

A large portion do, and in fact are willing to do a lot to try to make it come sooner -- like the group that has a pre-fab version of the Jerusalem Temple all ready to assemble for Israel.

 

[Kulindahr]

This means that just about everything in a Walmart and Target will be 10% more expensive.

Make that 12% to 15% more expensive because they can get away with it, counting on customers being too dumb to notice the difference.

 

[KaraBulut]

Make that 12% to 15% more expensive because they can get away with it, counting on customers being too dumb to notice the difference.

And always remember: retail prices go up and they do not come back down, even when the wholesale price drops.

 

[KaraBulut]

A large portion do, and in fact are willing to do a lot to try to make it come sooner -- like the group that has a pre-fab version of the Jerusalem Temple all ready to assemble for Israel.

Guyana Punch was so much simpler.

 

[rareboy]

One result of the tariffs and the naked oligarchy inn the US has been a definite downturn in support for retailers like Amazon and others.

It is never a good sign when municipalities and other huge buying organizations drop a supplier.

Every day, new alternatives for Amazon and a host of other Trump supporting corporations are being shared.

This week with one client group, we spent our time looking at how to unwind purchases from the US, no matter what happens with tariffs over the this month, because people are tired of the undependability and the potential impact on supply chains.

The City of Montreal has dropped Amazon from its list of suppliers, pledges to buy local

The City of Montreal had dropped Amazon from its list of suppliers in response to the still-looming tariff threat from the U.S.

cultmtl.com

 

[rareboy]

Wow. Even this tax grab was apparently too much for voters to tolerate? And this was the big easy of all of them.