tariffs
Holy f*ck!
"The tariffs are not broken down by country, they're broken down by top level internet domain."
They spelled “tax Americans” wrong
“Trump Says He’ll Impose #Canada, #Mexico With 25% #Tariffs on Feb. 1” - Bloomberg https://www.bloomberg.com/news/articles/2025-01-30/trump-says-he-ll-hit-canada-mexico-with-25-tariffs-on-saturday
#TrumpTax on Americans.
Via Aaron Rupar:
[SpoxBarbie] Leavitt: "The president will be implementing tomorrow 25 percent #tariffs on #Mexico, 25 percent on #Canada, and a 10 percent tariff on #China."
ADDED (At least they asked!):
REPORTER: Can you guarantee that those tariffs won't increase prices for Americans, including at the gas pump and grocery store?
LEAVITT: I think Americans who are concerned about increased prices should look at what President [sic] Trump did during his first term
What's this?
Orange juice for one cent?
These are #Canadian shelves, and these are #American products
This is at a Loblaws in #Ontario, photo taken on Monday
#Canada retailers pretty much have to give #USA products away as Canadians #boycott the #US and #Trump's bellicose verbal diarrhea and #tariffs
#Florida #citrus growers: you voted for this
(ps:
the food banks don't have any room for this juice, because so much unsold American food is already going to the food banks)
Mexico to retaliate against US tariffs, president says
https://globalnation.inquirer.net/263181/mexico-to-retaliate-against-us-tariffs-president-says
Mexican President Claudia Sheinbaum angrily rejected an accusation by the United States Saturday that her government has an alliance with drug cartels, and vowed to retaliate against Donald Trump’s sweeping tariffs.
Meanwhile, in the normal world:
"#Ecuador president says new #trade deal with #Canada finalized"
Apparently, #Trump admires President #McKinley's #tariffs (same guy Trump replaced #Denali's name with)
This fucking moron is trying to recreate antiquated #protectionist bullshit from the #GildedAge that doesn't work in the modern world
#China will expand its trade
Canada and Ecuador and others will bypass the #USA
And the USA will suffer mightily
So fucking stupid
Product of Canada, Product of Mexico signs going up all over our local grocer. Shoppers looking at labels and putting back items that say USA
People are angry and actively resisting
The #Trump admin has agreed to pause sweeping #tariffs on #Mexico for 1 month while the 2 sides hammer out an agreement, Pres #ClaudiaSheinbaum announced Mon. Sheinbaum posted that, in a conversation w/ #Trump, Mexico agreed to fortify its border w/10k national guard troops to try to block the flow of drugs, especially fentanyl, across the border. Trump is also speaking Mon w/ #Canada PM #Trudeau before tariffs aimed at the country are due to take effect early Tues.
https://www.washingtonpost.com/world/2025/02/03/mexico-tariff-retaliation-trump/
Whether the tariffs happen or not, the damage is done. The national response seems to be to strengthen internal trade and reliance, as well as trade with other countries. There is no way to stop an anti-US sentiment in this country after this.
We will, of course, still buy from the US, but we will put more focus on buying from other countries and selling to other countries.
The consequences of this breach of trust and betrayal will last a long time
U.S. stock futures dropped on Sunday evening
as the White House remained defiant even after a two-day historic stock market rout
that followed President Donald Trump’s rollout of shockingly high tariff rates on most key U.S. trading partners.
🆘Dow Jones Industrial average futures fell 1,531 points, or 4% Sunday evening, pointing to another brutal session ahead on Monday.
💥S&P 500 futures shed 4%.
💥Nasdaq-100 futures lost 4%.
⚠️This follows a market wipeout to end last week:
🔥The Dow posted back-to-back losses of more than 1,500 points for the first time ever, including a 2,231-point shellacking on Friday.
🔥The S&P 500 dropped 6% on Friday for its worst performance since the outbreak of the pandemic in March 2020. The benchmark lost 10% in two days, pushing it to more than 17% below its February record, perilously close to a 20% bear market.
🔥The Nasdaq Composite entered a bear market Friday — down 22% from its record — after losses on Thursday and Friday of nearly 6% apiece.
Investors did not receive the news over the weekend they were wishing for that the Trump administration was having successful negotiations with countries to lower the rates, or at the very least, was considering delaying the set of so-called reciprocal tariffs due to take effect April 9.
Instead the president and his key advisors played down the sell-off:
❌Trump posted on Saturday to Truth Social for people to “hang tough” and that this was an “economic revolution.”
❌Commerce Secretary Howard Lutnick told CBS News that the tariffs would not be postponed. “The tariffs are coming... They are definitely going to stay in place for days and weeks.”
❌Treasury Secretary Scott Bessent noted to NBC News that more than 50 countries have approached the administration for negotiations, but cautioned “they’ve been bad actors for a long time, and it’s not the kind of thing you can negotiate away in days or weeks.”
Investors were surprised first by the magnitude of certain rates applied to trading partners that appeared to be based on a formula without a valid rationale based on established economic theory.
They were rattled further when China on Friday decided to retaliate first with a 34% tariff on all U.S. imports, instead of negotiating.
“Trump’s Liberation Day last Wednesday triggered #annihilation days on Thursday and Friday, with the stock market vigilantes giving a costly thumbs-down to Trump’s reign of tariffs,”
wrote Ed Yardeni, president and chief investment strategist of Yardeni Research, in a note to clients Sunday.
While the administration said at least 50 nations had reached out to start negotiations, Canada and the European Union were planning to follow China’s lead and readying #retaliatory #tariffs against the U.S.
Vietnam has offered already to cut tariffs on the U.S. to zero, according to Trump, but they appeared to be the exception so far.
Fears grew on Wall Street that the sell-off would feed on itself with hedge funds forced to sell down equities and other risky assets to raise cash and meet margin calls.
And there were worries that the rapid stock market decline would lead to a vicious circle that would hit the U.S. consumer even before tariffs had an impact.
🆘“The plunge in stock prices since Liberation Day increases the odds that the resulting negative wealth effect will depress consumer spending, which increases the odds of a recession, which is, in turn, depresses stock prices,” said Yardeni.
The price of #bitcoin, which usually trades like another big tech stock but had bucked the broader market meltdown week, 🔸fell under the $80,000 Sunday.
Other than a couple brief blips below that floor, the flagship cryptocurrency has largely traded above it so far this year.
https://www.cnbc.com/2025/04/06/stock-market-today-live-updates.html
It would be good if the press mentioned that fentanyl deaths are declining "in large part due to concerted efforts to curb trafficking by the Joe Biden administration in cooperation with other countries, namely China and Mexico." And that Canada is responsible for almost none of the US supply.
#media #trump #tariffs #canada #mexico #china #trumprecession https://www.cfr.org/article/how-does-fentanyl-reach-united-states
Imma just gonna leave this here cuz the dude ain’t wrong.
#border #canada #trump #drugs #republicans #tariffs #tiktok #whompwhomp
REMEMBER: THE PURPOSE OF THE TARIFFS IS TO DESTROY THE ECONOMIES OF RUSSIA'S ENEMIES
#Trump “ #tariffs on steel & aluminum “will not go unanswered,” Eur. Union chief vowed on Tues…will trigger tough countermeasures from the 27-nation bloc. It means iconic U.S. industries like bourbon, jeans, peanut butter, motorcycles should beware” #TrumpTax
https://apnews.com/article/eu-us-tariffs-trump-trade-war-leyen-0b23d25d30428eb288b79bfda4fa25e9
“In Canada, a slew of apps has emerged with names such as “buy beaver”, “maple scan” and “is this Canadian” to allow shoppers to scan QR barcodes and reject US produce from alcohol to pizza toppings.”
#trump #fascism #elonmusk #tariffs #TrumpRecession
https://www.theguardian.com/us-news/2025/mar/12/i-feel-utter-anger-from-canada-to-europe-a-movement-to-boycott-us-goods-is-spreading
"We have downgraded our 2025 US GDP growth forecast from 2.4% at the start of the year to 1.7% now (both on a Q4/Q4 basis). ...The reason for the downgrade is that our trade policy assumptions have become considerably more adverse and the administration is managing expectations towards tariff-induced near-term economic weakness."
-Goldman Sachs
Wall Street is telling the #TrumpMusk regime that its approach is wrong, it must make an about face.
#Recession #Tariffs #USPol https://www.bbc.com/news/articles/cz61nn99eg1o
An excellent piece from Daniel Dale, demolishing Trump’s latest lie; that Canada has some of the highest tariffs in the world, a claim so patently false as to be absurd..https://www.cnn.com/2025/03/12/politics/fact-check-trump-canada-highest-tariffing-nations/index.html #Canada #cdnpoli #tariffs #USMCA #CUSMA
The world’s most widely followed #StockMarket benchmark slid into a correction on Thurs, a drop that underscores how the 2-yr-long bull market [#Bidenomics] is running out of steam in the early days of the #Trump admin.
The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Trump over the past few weeks. On-again, off-again #tariffs & #MassLayoffs of #FederalWorkers have fomented unease on #WallStreet.
#economy #Trumpcession
https://www.nytimes.com/2025/03/13/business/sp-500-stocks-market-correction.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=2AF81A08-DB10-4E54-BA71-32F938B4D01C
👀👀👀
Via Aaron Fritschner:
Republicans snuck a provision into the rule for the CR that would preemptively surrender congressional authority to block #tariffs.
When House Republicans vote for this rule today, they will also be voting to support #Trump's tariffs and all the resulting damage to the US economy #TrumpTax
#FederalReserve Chair #JeromePowell is speaking
Says #Trump #tariffs were far higher than expected & that larger than expected tariffs mean higher #inflation, slower growth.
"We face a highly uncertain outlook with elevated risks of both higher #unemployment & higher inflation," undermining both of the #Fed's mandates of 2% inflation & maximum employment, Powell said in prepared remarks for a business journalists' conference.