Tariff Time Woes

How are tariffs affecting you? Probably not at all on the first day other than maybe your 401K tanked. The stock market will recover.

I just picked up my tariff free eye glasses and am enjoying a tariff free Old Fashioned and a tariff free filet steak. Things may change. :smiling_face_with_sunglasses:

2 Likes

Does "Joe Average" in the USA realise that imposing tariffs will make a whole load of things more expensive or unavailable ?

Hard to say. Joe average is not in my circle of friends but Trump seems to be promoting the theory that foreign countries will be paying the bill so who knows.

1 Like

See how many businesses close down and how many state employment offices get backed-up. See how few social security offices there will be and how many people won't get their forms through fast enough for Prince Musk.

Now's the time to live with your head up denial singing it can't happen here!

All in all, this is the normal market economy.

All market participants will try to maximise and optimise returns through their value chains.

Keep calm and carry on.

The general public, not the pot bangers, understand cheap imports take away local employment, which is, to the general public, more important than trinkets. Which is more important to the head of a country: employing your citizens or some random country's?

"Federal" about 25,000 and counting. [caveat] until they show their work, then they will be re-instated [/caveat]

Back of the envelope math, if they HAD applied it the same way:
Trade deficit ($2.4 billion) divided by Russian exports ($3 billion) divided by two would be a 41% tariff.
-- Bluesky

What could possibly be the reason the US didn't impose a 41% tariff on Russia?

We even put a 10% tariff on the US Naval Support Facility Diego Garcia, the sole inhabitant of the British Indian Ocean Territory.

-- See Trump's list: More than 180 countries and territories facing reciprocal tariffs

I liked the 10% tariff on Heard and McDonald Islands, which are inhabited only by penguins, seals and sea birds.

Those penguins have been ripping off the US for years. :wink:

6 Likes

4 Likes

And annexing you into the US and charging you income tax.

1 Like

What have the penguins been buying from the US all this time, anyhow? And what have they been taking their 10% tariffs in, fish?

Or was it the seals?

<tongue firmly lodged in cheek, just in case it isn't obvious>

The penguins have offered letterboxes for letterbox companies, just like in Panama. :smiling_face_with_sunglasses:

The penguins can laugh all they like but they won't find it funny when the External Revenue Service calls or they get a visit from more ICE. To El Salvador with you innocent or not!! which in reality is pretty horrific.

Then why don't they buy expensive locally produced goods rather than cheap imports ?

5 Likes

Many, because, of course, there are no Federal employment offices to handle signing up for unemployment benefits.

The right wing pot bangers along with their fearless leader don't understand the concept of a global economy and how it's all interconnected and works pretty well to keep prices in a range that's good for everyone. They don't understand that a totally vertical manufacturing system is not the best way to build a product if, for example, you use hundreds of sub-widgets and there is a country that builds millions of them and isn't limited to a solely domestic market.

There are products, like advanced semiconductors, that it would make a lot of sense to build lots more of in the US. Unfortunately, that isn't one of the things Trump is pushing for.

To this end, the Americans are building chip factories in Germany.

I'm curious how those direct shipped cheap Chinese electronics goodies you get off eBay will be tariffed. Presumably since you are the importer, you'll have to go down to Customs and pick them up and pay the tariff.

But when they are imported into the USA they will be subject to a tariff

It is a welfare state.

Which will presumably be taxed when the parts are shipped to the US. When we finally get into WWIII, it would be good not to have to import missile parts from Germany and Taiwan.