Tariffs
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The world's remotest corners couldn't hide from US President Donald Trump's global tariffs onslaught Wednesday -- even the uninhabited Heard and McDonald Islands.
The Australian territory in the sub-Antarctic Indian Ocean was slapped with 10 percent tariffs on all its exports, despite the icy archipelago having zero residents -- other than many seals, penguins and other birds.
Strings of ocean specks around the globe, including Australia's Cocos (Keeling) Islands and the Comoros off the coast of Africa, were likewise subjected to 10 percent new tariffs.
Another eye-catching inclusion in the tariffs list was Myanmar, which is digging out from an earthquake that left nearly 3,000 people dead, and whose exports to the United States will now face 44 percent in new levies.
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Kindness is as kindness does. Got to be fair.
I tolerated 10 minutes of the Trump(CF) address before his self-professed humbleness, the meekness & humility of his demeanor, became too much to bear.
I tolerated 10 minutes of the Trump(CF) address
You're a better man than I am, Gunga Din. We watched a few episodes of As Time Goes By instead.
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Reactions from around the world:
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Omg someone on one of my boardgame groups just referred to him as “Mango Mussolini” and I’m dying.
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Journalist James Surowiecki now seems to have cracked the tariff calculation code.
"They didn't take into account non-tariff barriers at all, as they claim. Instead, they just took the trade deficit and divided it by the country's exports."Surowiecki gives the example of Indonesia. "We have a trade deficit of $17.9 billion with Indonesia. Exports to us are $28 billion. 17.9 divided by 28 = 64%. And that, according to Trump, is the tariff that Indonesia charges us. What nonsense this is."
In a follow-up tweet, Surowiecki said it was "even worse" than he thought. "Trump's staff only considered the trade deficit in goods. Services apparently don't matter."
And what about Russia?
https://www.bbc.co.uk/news/articles/cdjl3k1we8vo -
Stable Genius
. 5D chess.Or an unmitigated disaster.
Among those Trump has targeted with new tariffs: Lesotho, the tiny landlocked country that was slapped with a 50 percent tariff rate — the highest rate, shared also by the French territory of St. Pierre and Miquelon — and only has a trade imbalance with the U.S. because of a law that allows sub-Saharan African countries to ship thousands of goods duty-free; an overseas territory whose only inhabitants are workers at a military base operated jointly by U.K. and U.S. forces; and the Heard and McDonald Islands, home to no human, and mostly penguin, residents.
The tariffs could be devastating for some of those small countries. Lesotho has one of the highest rates of HIV in the world and the clothing factories the tariffs target are a key source of access to HIV medicines in the country.
“This could have really tragic implications for that country,” Gresser said.
The Republicans in Congress could stop this disaster if they could just grow a pair...
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Stable Genius
. 5D chess.Or an unmitigated disaster.
Among those Trump has targeted with new tariffs: Lesotho, the tiny landlocked country that was slapped with a 50 percent tariff rate — the highest rate, shared also by the French territory of St. Pierre and Miquelon — and only has a trade imbalance with the U.S. because of a law that allows sub-Saharan African countries to ship thousands of goods duty-free; an overseas territory whose only inhabitants are workers at a military base operated jointly by U.K. and U.S. forces; and the Heard and McDonald Islands, home to no human, and mostly penguin, residents.
The tariffs could be devastating for some of those small countries. Lesotho has one of the highest rates of HIV in the world and the clothing factories the tariffs target are a key source of access to HIV medicines in the country.
“This could have really tragic implications for that country,” Gresser said.
The Republicans in Congress could stop this disaster if they could just grow a pair...
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Stable Genius
plays 5D chess. -
There are good economists in the Council of Economic Advisers who likely helped invent this "formula." People like Kim Ruhl. He is a trade economist. I suspect his credibility is shredded for all time coming. For a few pieces of silver he ...
Back in the day, the CEA's role was to represent the economics profession and to tell truth to power. I know many people who have served well in that role over the years. Those days are in the rear view mirror.
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There are good economists in the Council of Economic Advisers who likely helped invent this "formula." People like Kim Ruhl. He is a trade economist. I suspect his credibility is shredded for all time coming. For a few pieces of silver he ...
Back in the day, the CEA's role was to represent the economics profession and to tell truth to power. I know many people who have served well in that role over the years. Those days are in the rear view mirror.
I think you may be giving these guys too much credit.
Saw an article where a guy asked 3 different AI things the best way to calculate a fair tariff. All three came up with the formula they ended up using. I don’t do AI - would someone like to test this? My guess the formula was generated by some snot nosed kid who then drove back to his mother’s basement in a WankPanzer to spend the rest of the night whining on line about how he can’t get a date.
No? Ask AI things to name every country in the world and you get the exact list of countries affected by the tariffs.
Including uninhabited islands.
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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..
When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
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Trump White House cited economists for its tariff formula. They pan it.
Economists say the administration’s formula fails to take into account whether conditions change.
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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.
