- cross-posted to:
- worldnews@lemmit.online
- cross-posted to:
- worldnews@lemmit.online
Donald Trump announced he will impose an additional 100% tariff on goods from China, on top of the 30% tariffs already in effect, starting November 1 or sooner. The threat is a massive escalation after months of a trade truce between the two nations.
Trump’s announcement is tied to Beijing ramping up export controls on its critical rare earths, which are needed to produce many electronics. As a result, Trump appeared to call off a meeting with Chinese President Xi Jinping that was scheduled for later this month in South Korea.
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Never forget the Epstein files
Just don’t trade with USA, problem solved. Figure out other trading partners and let them cry about it.
That’s what China is doing on the one hand. On the other, it’s got a gun to our head on rare earth metals. Good job Trumpo. These deals are not likely to come back to us, but we are going to have to capitulate to them because we have no other sources.
If only there was a trader partner rich on rare earth metals, right beside the usa… And if only USA hadn’t burnt their relation…
Deposits of rare earths aren’t rare, and the US has them, too. It’s the processing of ore into usable metal that China really has a lock on, and the processors have promoted development of the nearby deposits because that makes logistical sense. Sure, other countries could catch up if motivated and organized about it, but building the expertise and infrastructure would take years to decades. If we want to have access to new electronics two years from now, we will capitulate to China.
I’m sure the totally competent and not remotely inept Canadian government will get right on this in an efficient and hasty manner.
I don’t think I want my country dug up and polluted so the world’s greatest war monger can build better baby-seeking missiles or hospital-buster drones. Fuck em.
This is why he does that 51st state bullshit
This is also the main reason he wanted to invade Greenland
I thought it was because he saw “green” and thought golf green.
Dude has dementia and can’t remember what he did last week.
China has a 100 year plan … Trump doesn’t have a plan for the next 100 minutes
Golf, always. It keeps em fit.
How many fucking times os this fucking guy gonna try to destroy the economy in a single year?
He’s destroying the economy for 99%. The 1% is making lots of money out of this.
We have 2.5 months left to go, so… anywhere between 6-1000 times. It’s the “art of the deal”. No one ever mentioned that it’s always a bad deal.
I still think it could be a strategy for midterms.
Best way to win midterms is to have the economy improve, for prices to go down.
Best way to improve the economy is to first break it in obvious ways you know roughly how to undo.
Come January, I expect TACO to go into full effect, announcing a hiatus on tariffs and in the subsequent months they’ll actually be able to show prices going down year to year. A comparative flood of cheap and available goods. They’ll claim the upswing as proof that 2025 was just the residual ‘Biden economy’.
And it’ll work. People relieved at the good fortune will happily vote for the people that exacerbated the mess in the first place. Anyone pointing this out will be branded as a sore loser democrat that refuses to recognize Trump’s economic leadership.
Unless they decide not to ‘waste it’ on midterms and save up for 2028 instead. But I’d guess midterms to keep GOP power strong while they have more time to implement whatever other measures might make it matter less about having to actually win over voters.
I don’t understand what the scam is. Is it just buying the dip when he announced this and selling once he “chickens out” or is there something more complex that he’s being convinced to trigger?
That and shorting, stocks, bitcoin, currencies.
The scam is you can’t time the market - unless you are the person who sways the market. So he lets his buddies know what he is about to do so they can buy puts as the market crashes then they buy calls when he reverses. He was on video bragging about how Charles Schwab made over a billion dollars in one day because he had insider information.
Pretty sure that’s it honestly. Buy low, sell high(er) grift. He’s a simple man after all. A little too simple.
It’s a pump and dump game. He just wanted some more quick cash at your expense.
Just assume infinity as everything he does works towards ruining the economy.
You haven’t seen my final form yet (bis).
I’m sure my retirement account dropping drastically overnight is 100% coincidence
Somehow I only had a 3% loss in one day. I don’t know what my current distribution is, but it’s currently saving my ass. The biggest drop was in April (in the past 3 years). I should look at 2020, that should be a good shock.
3 percent would be a large drop in 6 months, let alone in a day.
Yeah I had to check what the fall actually was yesterday and 3% seems about spot on for the market as a whole. Which sucks, but it’s not like I can touch it anyway
My IRA will be 3 years old this year. I refuse to check the balance because I can’t handle any more bad news
The headline makes it sound like the US trade war ever abated in the first place. But that’s fine America. The rest of us just love to get pissed on constantly. Don’t worry about it.
Or alternatively you could take steps to unfuck your shit, but that’s none of our business.
Everyone buy stocks for the Chinese companies that tanked. Guaranteed these tariffs will go away by Tuesday and he’s just manipulating the markets again
Did it ever go away? I’ve been hearing about tarrifs ever since the orange retard started blubbering about it
It dropped to 30%, which is still painful but larger businesses (which make of the vast majority of the stock excahnges) can manage without too much stress. The 100% shock number lasted less than a week, if I remember correctly. Until now. TBD how long this go round lasts.
Just delayed
🤡
War? It’s just a bunch of legislators afraid of the dumbshit man child tantruming in DC.
No, they’re all making money on it. They buy now. When he announces that he’s relaxed the tariffs, because of some made up reason that doesn’t exist, they’ll all sell. It’s disgusting.
Treasonous bullshit
Stepping on his dick and shooting his foot. Maybe this is the nudge the generative Ai bubble need to burst!
Americans having trouble with basic math per usual. 30% on top of a 100% is not 130%
Looks like your country has trouble reading. Or maybe it’s dumb to stereotype an entire country and it’s just you.
If the item is currently 100 dollars and the tariff tax is 30% that’s 30 dollars. The extra 100% is on the item value, not the value plus original tariff, so it’s 100 dollars.
The total is therefore 130 dollars or 130% on top of the original value.
Lemmings having trouble with basic math per usual.
I would definitely believe if Trump was tariffing tariffs though.
From the few articles I read, Trump was refering to percentage points, not actual step by step percentage increases.
I wouldn’t bet that even grandpa rape knows what the fuck his own words meant, other than insider trading for his closest traitors.
I honestly wouldn’t be surprised if Trump can’t tell the difference (initially) between X2 step by step 45% increases (which would result in ~110% increase from base), versus two 45% percentage point increases (which would be 90% from base).
No, it’s done correctly, and it’s done that way for the same reason. It’s not compounding, it’s additive.
What part of that do you take issue with? The article itself says 130%, also.
