Summary
Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.
The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.
Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.
Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.
I don’t buy that Trump has anything to do with the logic behind this world-destabalizing shock and awe spectacle.
The conversation would be different if people stopped attributing authorship to him and acknowledged the massive decades-old machine using him as a mouthpiece.
But it sure makes people feel smart though. Gives them something to meme about while the people who planned this get the real dirt done. Maybe he’ll misspell a country name next… Do another ad for Leon’s dinkeys, Israeli beans or something. Stoopid Donald got poopy pance. lol.
The conversation would be different if people stopped attributing authorship to him
Is there a lemmy channel for those conversations?
Trump basically ran his mouth, realized he had to drop something, whipped some crap together, took a dump in the living room and left for the golf field… exactly what MAGAtards wanted, hope you are enjoying it
Gold has held up well with new all time highs. You really can’t challenge the classic.
No basis in logic if he were actually trying to do what he says he is. He’s not. They make perfect sense if the goal is to destabilize the country. We elected a fucking Manchurian candidate twice, and the in-between term was spent on a bunch of business as usual and not setting up protections in case it happened again. This country is fucking done.
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I don’t think this is a generational thing, personally, unless we’re talking about the Boomers.
The Boomers took a vibrant, beautiful world and spent two generations driving it into this McDonaldized hellhole we live in, after reaping the benefits of the most prosperous economic period for workers in our history in the 1960’s. They’re still profiting now thanks to the lopsided tax policies that favor people with wealth.
The vast majority of the country only has one or two choices when shopping for necessities now, so I can’t really blame them for the world that they were born into. Calling young people consumerist is just blaming them for circumstances of which they had no real control.
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Your point of view sounds a whole lot like the 2500 year-old history of blaming young people.
In reality, however, it’s the Boomers who are largely responsible for the world we find ourselves in, not the 20 year-olds. Electing Reagan twice, by itself, was more harmful to American society and beneficial to consumerism than anything Gen Z has done.
Exactly
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lol you sound like such a boomer
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You had me right up to “I didn’t vote”.
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Our options on the left are to unite yesterday or die.
There isn’t really another option anymore. People are dying, now, because we can’t rally.
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Because that means you supported Trump, regardless of what you say, your actions helped put him in power.
By that logic they would’ve supported Kamala by not voting had she won. Dumb
Yeah. That’s how it works. If you don’t get involved you effectively support the party that wins. Lol
Insanely stupid logic and thought process
Lol. You must be very smart.
Clearly smarter than you at the very least
Why?
Democrats and Republicans have spent the last eight years convincing the poor and middle class that voting doesn’t matter. Hell, Democrats even subverted their own primary rules twice to strike that point home, and then argued in court that it was their right to do so when they were sued for it.
I vote, but I can’t pretend it matters much when I watch most people in this country across the last eight years working gig jobs for 100 hours a week and all their labor can buy for them is a roach-infested studio regardless of where they live, and our president always has money and time for genocide.
It is always someone else who is at fault for Trump except Trump himself, the Republicans, and people like you who didn’t vote.
Realistically, it’s the fault of people voting for shitty candidates. That’s not a matter of opinion, but of fact.
Nut had me when he blamed democrats for Trump. Not the actual Russians propping him up and the NRA who was funneled money from Russia to give to Republicans.
UK and Italy are playing Trump’s game. He doesn’t negotiate. He demands tribute and only honours agreements if they are a win for him and he feels like honouring it at the time. Canada has a Trump negotiated trade agreement - the best agreement ever, in his parlance. It is apparently not worth the paper it is written on.
Countries must negotiate trade agreements - with everyone except the USA. And citizens must support their countries by not purchasing any thing from the USA. As for the few Americans that didn’t vote for Trump, so sorry but your fellow Americans still fully support him. So it isn’t “just Trump”, it is America that is the problem. Trump is simply reflecting who the majority of Americans really are.Because Trump is getting demented. This is all his idea
Vlad Vexler makes the point that the point of is not at all economics but that it does have a basis in logic: it is about asserting that he can do this, that his political power is above economic rationality. It is a political move, not an economic play.
It’s also chaos.
He’s making it so nobody can even trust their own country or economy.
You just have to listen and trust him and Trump will make it right …
“No basis in logic” will be both the title of Trump’s time in office and the reason why the USA collapses
This thumbnail looks like the shittiest ‘Soulsborne’ Boss. Ever. Like, worse than Patches. Limping; anaemic.
Well just to be fair - and i know people like shitting on Trump but hear me out - the complaints from workers against out-shoring labor to other countries has been very loud for many years.
Everytime the newspaper reports “Company X has moved its factory to China” you can be sure that lots of people are gonna complain about it. But tariffs are the only thing that actually forces companies to put the factories back to the USA. Or do you have a better idea?
U.S. factories in most cases cannot produce goods that are competitive in a global market. Our labor costs are too high.
This idea that we can revive American traditional manufacturing of basic goods is a complete fantasy. The factories in Vietnam aren’t going anywhere, because they will still be selling to the other 95% of the globe outside the U.S. Even if factories are stood up in the U.S., they will be constrained to producing higher-priced goods exclusively for the domestic market, with all the attendant inflationary impacts from start-up costs and higher labor costs.
Meanwhile, retaliatory tariffs from other countries will cause the collapse of U.S. exports. We’ll lose markets for the sectors where the U.S. is still competitive, like agriculture, advanced manufacturing, and even services.
Trump’s approach is similar to the failed development strategy of import substitution industrialization, except in this case he thinks it will cause the U.S. to reindustrialize. In any case, it will fail for the same reasons ISI failed in Latin America.
But tariffs are the only thing that actually forces companies to put the factories back to the USA. Or do you have a better idea?
I mean no… And, how about accepting that the US is no longer a manufacturer, and that’s just fine in a global economy
tell that to the workers
I mean we did like 40 years ago…
40 years ago knowledge workers were in high demand, and IT was booming. Now, IT is enshittifying, so what do the workers do next? Where do they go?
Maybe calculated tariffs on commodities where companies are contemplating outsourcing, but that’s a step you take in advance in order to dissuade their action. This is like making the whole school sit with their heads down through recess because one specific kid was unruly.
Edit: There wasn’t even an unruly kid. The Principal is just vindictive, has a hangover, and hates children.
because one specific kid was unruly
Edit: There wasn’t even an unruly kid.
Well, outsourcing labor was a mass phenomenon in the last 50 years.
You need to have a plan in place before doing this to even think about bringing manufacturing back here. And tariffs need to be like the last part of the plan
I agree that a plan is needed. Still, what would be the other parts of the plan? Tariffs are the only really impactful measure, it seems to me. Tariffs on import and subsidies on export.
Also, maybe Trump is so “on-off” with the tariffs to give companies a warning to bring back manufacturing to the US, and them lifting them again to not cause a recession, giving them a few years to set up the infrastructure, and then re-install the tariffs. One needs to look for the “good outcome”, sothat one steers in that way.
I think you’re kind of being unfairly downvoted because it’s definitely underappreciated how much tariffs are used in modern trade deals.
Putting selective import tariffs on certain goods (like say car manufacturing) might be a wise move if you want to encourage the US to develop a manufacturing base. It’s worth noting that the US, and most other countries have been doing this selectively for years.
This is reeeaally far from the tariffs that have actually been anounced though, which are the highest rate the US has had in around 100 years, and applied pretty indescriminately. There are some goods that the US just can’t produce itself (like certain rare earth minerals that aren’t in the USA) but even worse, because of the insane logic of applying them to countries as they have been done, it opens up this type of event:
- A comany like Apple might assemble laptops in the US, but import parts like chips from, say, China.
- They now have around a 40% tariff on all chips, which is really going to drive up cost, and leaves them with two options.
- Option one, they bring all manufacturing into the US, which would take a long time to build up the infrastructure, and still really ramp up the price because wages in the US are so much higher than they are in China
- Option two, they outsource everything to say Mexico or Canada who don’t pay the tariffs on Chinese chips, and just pay the wholesale import tariffs are needed to bring things from Mexico/Canada to the US. They also get to skip out all the reciprocal tariffs that other countries are placing on the US in retaliation for the recently announces ones when they import out to, say, Europe.
Even option one is bad, because Apple might sell laptops internally, but the newly increased price makes them super uncompetitive with rival firms overseas, so it might still lead to a loss in overall jobs for US workers.
I’m not pretending this doesn’t suck - but US based international companies like Apple have a clear incentive to just forgoe the US as much as possible now. This kind of risk is why countries have traditionally been very conservative with changing tariffs.
I think you’re probably right that there might be an argument for countries to be less conservative than they have been, but the US government just cranked up the dial from 0 to 11 and we’re all about to find out what that might look like in real time.
You can’t just flip a switch to have manufacturing moved to the United States overnight or even five years. Not to mention that even raw goods needed to even start the process that are being tarriffed like aluminum just doesn’t come out of nowhere. This is a dumb sledgehammer approach that’s going break more things than it fixes
There is simple logic in it. Punish everyone, and then let them come to you asking for exemptions. Then he can demand things in exchange. After that it’s “Pray I don’t alter the deal any further.”
UK already asked for an exemption and he said they should buy chlorinated chicken first. If every country responds in the same way and gives in he’s making bank. If they respond with a boycott on anything American, especially digital services, things get bad.
Well if hes following Project 2025, which it seems based on recent comments by Elon Musk, then hes expecting other countries to remove all tariffs first. As you say, chlorinated chicken, but if you dont then you dont get to sell your healthy chickens to America, and all that money you owe thats denominated in USD becomes very hard to acquire.
Maybe the better option is to allow it but to label it with its harmful chemicals, let the free market decide, in a kind of democratic process of people determining their own marginal utility versus budget constraints. You can still buy cigarettes in the UK and Europe as well, so whats a bit of American chicken versus a lifetime of smoking?
Chlorinated chicken…?
Is that as mouth-watering as it sounds?
For when your food grows up in so much squalor that you need to dip them in chlorine to fake the bacterial culture tests.
Oh no.
The “Empires last 250 years” thing is bad history and not really supported by fact…but…
Can we stop winning already? I’m tired of winning so much.
Ooh boy, does my retirement account feel liberated.
