Eggplant.place

135d

🧵via Chris Murphy, in part:

Those trying to understand the tariffs as economic policy are dangerously naive.

No, the #tariffs are a tool to collapse our democracy. A means to compel loyalty from every business that will need to petition #Trump for relief. #TrumpTax

1/…

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134d

#TrumpCrash #TrumpTax #tariffs

Closing.

THUD.

Added: via Bloomberg, "The S&P ended the week down 9.1%, the biggest decline since March 2020, while the Nasdaq 100 entered a bear market. "

Closing time.

Dow -2231

NASDAQ -962.82

S&P 500 -322.44

ALT

Edited 134d ago

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186d

#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

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136d

Via Angry Staffer:

I was thinking that none of those numbers made sense, but holy fuck this is insane

#TrumpTax #tariffs

James Surowiecki:

Just figured out where these fake tariff rates come from. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion.
$17.9/$28 = 64%, which Trump claims is the
tariff rate Indonesia charges us. What extraordinary nonsense this is.

James Surowiecki:

It's also important to understand that the tariff rates that foreign countries are supposedly charging us are just made-up numbers. South Korea, with which we have a trade agreement, is not charging a 50% tariff on U.S. exports. Nor is the EU charging a 39% tariff.
U.S.A. Discounted

ALT

Edited 136d ago

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134d

“Federal Reserve Chair Jerome Powell said that the #tariffs, and their impacts on the economy and inflation, are “significantly larger than expected.” He also said that the import taxes are “highly likely” to lead to “at least a temporary rise in inflation,” but added that “it is also possible that the effects could be more persistent.” #TrumpTax #Trumpflation
https://thereport.be/article/?app=breaking&u=https%3A%2F%2Fapnews.com%2Farticle%2Ftariffs-inflation-economy-trump-powell-490417656971634592bbeb3b2ade3593%3Ftaid%3D67f000563e9bc50001a7dab1

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78d

#TACO #Trump always chickens out.

🐔🌮

#TrumpTax

‪Aaron Rupar‬:

Trump gives away the game that there is literally no process to his tariff announcements beyond the half-baked thoughts flitting through his head:

Trump on the announcement he just made to increase steel #tariffs to 50%: "I said to the group, 'Would you rather have a 40% increase?' Because I was thinking about 40 when I came. I said, 'Would you rather have a 40% or a 50%?' They said, 'Well take 50!' ... so congratulations."

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109d

#TrumpTax

Via Carl Quintanilla:

TELSEY begins tracking price increases over the past week. Some highlights:

* Abercrombie jeans: up 33%

* Amazon Echo: up 38.5%

* Target / Barbie doll: up 42.9%

As @emptywheel points out: " #Trump making it more expensive to plunge the shit that is clogging your toilet, quite literally."

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110d

Take THAT.

“Britain & European Union are set to sign a formal declaration committing to “free and open trade” in defiance of #Trump ’s #tariffs agenda.

A leaked draft promises “new strategic partnership” between London & Brussels based on “maintaining global economic stability & our mutual commitment to free & open trade.” #TrumpTax
https://www.politico.eu/article/uk-eu-defy-trump-free-open-trade-declaration/

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128d

“ #Trump 's Trade War With #China Is Now Hurting Hollywood—and US Soft Power

On Thursday, Chinese officials retaliated against Trump’s #tariffs by imposing new restrictions on US movies. That’s a big blow to America’s cultural cachet in the nation” #TrumpTax
https://www.wired.com/story/trumps-trade-war-with-china-is-now-hurting-hollywood-and-us-soft-power/

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123d

" #Canada 's finance ministry said it will give its country's businesses a six-month relief from #tariffs on certain U.S. goods imports, but warned this temporary measure should be used to "adjust their supply chains and prioritize domestic sources". #TrumpTax
https://www.newsweek.com/canada-gives-new-lifeline-trump-tariffs-2059964

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57d

Via MSNBC:

BREAKING: Supreme Court won't immediately take up Trump tariffs case

#TrumpTax #SCOTUS #tariffs

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74d

The OECD has slashed its outlook for global output as Donald #Trump's trade war saps momentum in leading economies— Financial Times

More: #TrumpTax #tariffs

https://www.cbsnews.com/news/oecd-us-economic-forecast-trump-tariffs-2025-2026/

Edited 74d ago

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87d

Thud

#TrumpTax #TrumpCrash

"Dow tumbles by more than 800 points and bonds fall as concerns rise over America’s status as a safe place to invest

Dow closed -817, or 1.91%. S&P 500 -1.61% Nasdaq Composite -1.41%. The 3 major indexes each posted their worst day in one month" https://www.cnn.com/2025/05/21/investing/us-stock-market-bonds?cid=ios_app

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73d

"Can makers."

Your grocery bills ⬆️💸

You remember groceries, right? "A bag with different things in it"

#TrumpTax

NYT:

Home builders, car manufacturers and can makers are among those that will see higher prices for materials after #Trump raised tariffs on steel and aluminum imports to 50%.

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70d

"Job opportunities at the Port of Los Angeles are dwindling as #Trump ’s steep #tariffs take hit on global trade.

Nearly 1/2 of longshoremen who support ops at port went w/o work over last 2 wks..Port processed 25% less cargo than forecast for.. May" #TrumpTax https://www.latimes.com/business/story/2025-06-07/port-of-los-angeles-job-orders-down-by-half

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79d

#TrumpTax

“The admin may seek to quickly replace the 10% tariff w a similar tariff of up to 15%" ..

Investment bank UBS warned clients "significant policy uncertainty remains." Even if the struck-down #tariffs do not come back, they wrote, "at least some of the economic impact has likely already begun to take effect."
https://www.nbcnews.com/business/markets/stocks-react-court-strikes-down-trump-tariffs-nvidia-strong-earnings-rcna209667

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79d

Keep 'em coming

#TrumpTax #tariffs

Via Kyle Cheney:

BREAKING: Judge Contreras has blocked #Trump's tariffs as unlawful. This is a *separate* injunction by a federal judge in D.C., unrelated to the block issued yesterday by judges on the federal tr de court. https://storage.courtlistener.com/recap/gov.uscourts.dcd.279804/gov.uscourts.dcd.279804.35.0.pdf

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79d

#TrumpTax
🤦🏻‍♀️
“A federal appeals court lifted the first of two rulings blocking Trump’s #tariffs on Thursday, handing him a temporary win after a lower court rejected the administration’s legal defense hours earlier.” https://thereport.be/article/?app=breaking&u=https%3A%2F%2Ftrib.al%2F5Ea6VHi

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40d

Here we go again.

Via Bloomberg:

US stocks hit session lows after #Trump announces 25% tariff on goods from Japan and South Korea.

#TrumpTax #tariffs

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40d

Below is the stupidest letter you will ever read.

#Trump #tariffs #Japan #TrumpTax

..Great Honor for me to send you this letter in that it demon's strength & commitment of our Trading Rel'ship, & fact that US has agreed to cont working w Japan, despite having a signif Trade Deficit w your great Country. Nevertheless we have decided to move fwd w you, but only w more balanced, & fair, TRADE. Therefore, we invite you to partic in extraord Econ of US, the No. One Market in the World, by far. We have had yrs to discuss our Trading Rel'ship w J,have concl we must move away from these longterm, very persistent, Trade Deficits engendered by J's Tariff, & Non Tariff, Policies & Trade Barriers. Our rel'ship has been, unfort'ly, far from Recip. Starting 8/1 we will charge J Tariff of only 25% on any & all J products sent into US, sep from all Sectoral T'fs. Goods transshipped to evade a higher Tariff will be subj to that higher Tariff. Please understd 25% # is far less than what is needed to elim Trade Deficit disparity we have w your Country. As you are aware, there will be no Tariff if J, or co's w/in your Country, decide to build or manuf product w/in US, in fact, we will do everything poss to get approvals quickly, professionally, & routinely—IOW in a matter of wks.
If you decide to raise your Tariffs, then, whatever the # you choose to raise them by will be added onto 25% that we chg..these Tariffs neces to correct many yrs of Japan's Tariff..Policies..causing these unsust Trade Deficits against US
This Deficit is major threat to our Econ & indeed our nat sec!

ALT

Edited 40d ago

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61d

"Owned by Hellman & Friedman, the Plano, Texas-based company, which has been struggling for months amid rising #tariffs..."

#TrumpTax

‪CBS News‬:

At Home, the home decor and furniture retailer with more than 200 locations in the United States, is filing for bankruptcy.

https://cbsn.ws/4lbsNPi

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61d

1. 10% is still a #TrumpTax. A big one.

2. No deal is final unless approved by Congress

‪Politico‬:
‪
#Trump has agreed to lower tariffs on British autos from 25% to 10% by the end of June.

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60d

"Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of #Trump’s sweeping #tariffs on nearly all imports.

Sales at retail stores, restaurants dropped 0.9% in Mayafter decline of 0.1% in April..pulled down by a steep drop in auto sales, after Americans ramped up their car-buying in March to get ahead of Trump’s 25% duty on imported cars and car parts. Excluding autos, sales fell 0.3%" #TrumpTax https://abcnews.go.com/Business/wireStory/us-retail-sales-fall-americans-turn-cautious-after-122924889

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51d

More #Tariffs Threat Makes US Trade Partners Wary of Signing Deals -

Tariff negotiations with the #Trump administration are running into roadblocks, as partners balk at signing deals without knowing how badly they’ll be hit by separate levies on exports
#TrumpTax
https://www.bloomberg.com/news/articles/2025-06-26/fear-of-sectoral-tariffs-proving-roadblock-for-trump-trade-deals

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44d

And YOU get a tariff! And YOU get a tariff! And YOU... and YOU....!

#TrumpTax #STFU

‪Aaron Rupar‬
‪@atrupar.com‬
· 2m
REPORTER: Can we expect any more trade deals before next week?

#TRUMP: My inclination is to send a letter out and say what tariff they're gonna be paying. It's just much easier ... 'you're gonna pay a 20%, or 25, or 30% tariff.' We're gonna be sending some letters out starting probably tomorrow.

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trumptax