Tariffs
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Add the Falkland Islands to the list of "what the hell?"
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Barstool Sports founder Dave Portnoy blasted President Donald Trump over his sweeping tariffs that have sent the stock market into chaos this past week.
Portnoy, a supporter of Trump, said that he is “down” $7 million across the stock market and cryptocurrency as Trump’s tariffs continue to wreak havoc on the economy. Trump announced a 10% tariff on all imports into the U.S. earlier this week despite economists’ warnings that it could send the country into a recession.
Portnoy said that he does not understand the point of the tariffs.
“I’m down 7 million bucks in stocks and crypto, and it’s tariff city. Trump has put his tariffs all over the place. I’ve been trying to understand them. I don’t. Like it’s more a trade deficit tariff. To me, like, hey, we get this much sh-t from you, and you get this much from us. Let’s even that up. Let’s get some wacky formula, do tariffs. And everything’s in the sh-tter because of it,” he said in a video that is circulating on social media.
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The good news about Trump’s tariffs. Jonathan Chait writing for the Atlantic.
Authoritarian leaders are most dangerous when they’re popular. Wrecking the economy is unlikely to broaden Trump’s support..
The good news about Trump’s tariffs. Jonathan Chait writing for the Atlantic.
Authoritarian leaders are most dangerous when they’re popular. Wrecking the economy is unlikely to broaden Trump’s support..
Please let people see what’s happening and actually get angry in the right direction.
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Leopards, faces, etc.
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Add the Falkland Islands to the list of "what the hell?"
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The formula used by the Trump administration to levy reciprocal tariffs contains a serious math error that over-inflates the impact by about a factor of four, economists at the American Enterprise Institute said.
Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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The formula used by the Trump administration to levy reciprocal tariffs contains a serious math error that over-inflates the impact by about a factor of four, economists at the American Enterprise Institute said.
Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
it's all so stupid.... and this administration will never admit to any mistakes, so we'll have to live with the consequences forever.
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The formula used by the Trump administration to levy reciprocal tariffs contains a serious math error that over-inflates the impact by about a factor of four, economists at the American Enterprise Institute said.
Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
Depends on what you think the goals are.
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Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
Depends on what you think the goals are.
@Steve-Miller said in Tariffs:
Why it matters: The conservative think tank says the error led to tariff rates massively higher than they should have been to achieve the goals the administration sought.
Depends on what you think the goals are.
Indeed. The administration wanted big numbers, so the formula was designed to give them big numbers.
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America Underestimates the Difficulty of Bringing Manufacturing Back
On April 2nd, 2025, our president announced major new taxes on imports from foreign countries (“tariffs”), ranging from 10% to 49%. The stated goal is to bring manufacturing back to the United States and to “make America wealthy again”.
These tariffs will not work. In fact, they may even do the opposite, fail to bring manufacturing back and make America poorer in the process.
This article gives the 14 reasons why this is the case, how the United States could bring manufacturing back if it were serious about doing so, and what will ultimately happen with this wrongheaded policy
I’ve been in the manufacturing industry for 15 years. I’ve manufactured in the USA and in China. I worked in a factory in China. I speak and read Chinese. I’ve purchased millions of dollars worth of goods from the US and China, but also Vietnam, Indonesia, Taiwan, and Cambodia. I’ve also visited many factories in Mexico and consider myself a student of how countries rise and fall.
In other words, unlike many who have voiced an opinion on this topic, I know what I am talking about. And that’s why I felt compelled to write this article. I had to do it. I’m a first generation American and I love my country and it pains me to see it hurtling at high speed towards an economic brick wall. This article is an attempt to hit the brakes.
https://www.molsonhart.com/blog/america-underestimates-the-difficulty-of-bringing-manufacturing-back
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It’s not about bringing manufacturing back. It never was. It’s about bringing in more money to the treasury so Spanky and Gang can cut taxes on the very wealthy and the largest corporations in the country.
It really is that simple.
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President Donald Trump said Tuesday that pharmaceutical imports will soon be hit with “major” tariffs as part of his efforts to drive manufacturing back to the U.S.
Drug imports evaded the first round of tariffs that Trump imposed on countries around the world, but the president said they will not be spared.
“We’re going to be announcing very shortly a major tariff on pharmaceuticals,” he said at a dinner of the National Republican Congressional Committee. “And when they hear that, they will leave China. They will leave other places because they have to sell — most of their product is sold here and they’re going to be opening up their plants all over the place.”
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EU slaps tariffs on US trucks, cigarettes and ice cream to target Trump’s red states
European trade officials sure know how to have fun.
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Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%.
https://apnews.com/live/stock-market-economy-tariffs-updates-4-9-2025
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Amid escalating trade tensions between China and the United States, some Chinese exporters are taking the drastic step of ditching shipments mid-voyage and surrendering containers to shipping companies to avoid crushing tariff costs.
Industry insiders have dubbed the move “preparing for the Long March”, a grim metaphor for what many see as a prolonged and punishing downturn in cross-Pacific trade.
A staff member at a China-listed export company, who requested anonymity, said its US-bound container volume had plummeted from 40 to 50 containers a day to just three to six as a result of the new tariffs on Chinese imports imposed by the second Trump administration. It has increased tariffs by 104 per cent this year, taking the total impost to around 115 per cent.
The new tariffs have triggered a backlash from Beijing and sent shock waves through global markets.
“We’ve halted all shipping plans from the Philippines, Vietnam, Indonesia and Malaysia,” the employee said. “Every factory order is halted. Anything that hasn’t been loaded will be scrapped, and the cargo already at sea is being re-costed.”
One client had told the company it was abandoning goods already on the water and giving them to the shipping company, as “no one will buy them after the tariffs are imposed”.
Reporting from South China Morning Post:
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Treasury Secretary Scott Bessent told reporters at the White House that the tumult in the market came because investors didn’t understand Trump’s tariff strategy.
“The market didn’t understand, those were maximum levels. The countries can think about those levels as they come to us to bring down their tariffs, their non-trade barriers,” Bessent said.
He said Trump “created maximum negotiating leverage for himself” and the Chinese have “shown themselves to the world as the bad actors”
insert eyeroll here
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All this on again/off again stuff must be real comforting for companies trying to plan ahead
