Let's add in that while they're boasting about record unemployment, they're also saying they're bringing more jobs here while firing people, who apparently will be so glad to be out of that office and back in front of the blast furnace.
Trump's Tariffs and Possible Trade War
- Thread starter Huckleberry
- Start date
BTW everyone, here's your reminder of what a "business genius" this guy is:
1) Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin." In July 1991, Trump’s Taj Mahal filed for bankruptcy. (Most subprime mortgage holders did better than default either the first six months or first 15 months, and they had nowhere near the money of Donnie Bunko.)
2) and
3) He could not keep up with debts on two other Atlantic City casinos, and those two properties declared bankruptcy in 1992.
4) A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt.
5) Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt.
6) Trump Entertainment Resorts also declared bankruptcy in 2009, after being hit hard during the 2008 recession.
And we can add the USFL, the league that had controlled costs that Trump violated (to be fair, he wasn't the first, but he was by far the worst), a spring league he insisted HAD to move to fall, and whose losses skyrocketed when he joined the league.
Would the USFL have gone out of business without Trump? Probably. But that's about like saying that if you live to 81 and die anyway that it's the same thing as dying at 37 of an easily treatable cancer, too.
1) Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin." In July 1991, Trump’s Taj Mahal filed for bankruptcy. (Most subprime mortgage holders did better than default either the first six months or first 15 months, and they had nowhere near the money of Donnie Bunko.)
2) and
3) He could not keep up with debts on two other Atlantic City casinos, and those two properties declared bankruptcy in 1992.
4) A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt.
5) Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt.
6) Trump Entertainment Resorts also declared bankruptcy in 2009, after being hit hard during the 2008 recession.
And we can add the USFL, the league that had controlled costs that Trump violated (to be fair, he wasn't the first, but he was by far the worst), a spring league he insisted HAD to move to fall, and whose losses skyrocketed when he joined the league.
Would the USFL have gone out of business without Trump? Probably. But that's about like saying that if you live to 81 and die anyway that it's the same thing as dying at 37 of an easily treatable cancer, too.
I heard someone explain the Trump tariffs this way: if a country places a tariff pon American rice sold in their country, then we will place the same tariff on rice grown in their country and shipped to the US. Except the concept of comparative advantage means that Finland imports oranges from Spain (because Spain has a comparative advantage in the production of oranges so they are cheaper) almost by definition means Spain does not import oranges from Finland. That would be dumb.
If Finland slaps a tariff on Spanish oranges, it would be dumb for Spain to retaliate by slapping a tariff on Finnish oranges because Finland does not grow oranges. Spain would be smarter to place a tariff on Finnish cell phones.
It's just more in a long list of evidence that Trump has no clue what tariffs actually are and how they work.
U.S. President Donald J. Trump has now announced that in retaliation to the Chinese retaliatory tariffs of 34% on U.S. goods, the U.S. will now impose an additional tariff of 50% on Chinese goods. China has until tomorrow, April 8, 2025, to rescind the tariffs, or the additional U.S. 50% tariffs will go into effect the next day, April 9, 2025.
Just remember something, everyone: no matter how bad anything gets or how catastrophic any result is, Trump will claim it was what he intended, and that he was right about it, and a substantial chunk of the American electorate will praise him as a genius who saw something nobody else could have and who is a winner.
The propaganda outcome of this debacle has already been written.
The propaganda outcome of this debacle has already been written.
Also remember that no matter the outcome of this there will be a substantial chunk of the American electorate who will criticize their President. You can't have it both ways. The one's who complain the most about Trump are the same one's who ignored and made excuses for every single misstep or error that Biden made.
This happened. I’ve made many trips to Burma. Pepsi set up a plant and distribution center outside Yangon. The first military government (disbanded in 2008) game in, took it over, and rebranded it Star Cola. Ran pepsi out of the country. Pepsi lost all resources and obviously took a loss.
I doubt it. I believe it's only on goods imported from the Bahamas.
When you think about it, this is actually one hell of a good question.
Investing in any country must take into account the likelihood of the local government seizing their property. As the action of a sovereign state, who would the victim appeal to for relief?
Anyway, determining who has the comparative advantage is never as simple as comparing minimum wage (or even average wage) in country A and B.
You left out the fact that they are completely shocked they were duped by his staff who said he was perfectly fine mentally.
I would appreciate some clarity on the economics involved, so if someone has a reputable source, I'd appreciate a link.
Let's look at our biggest trading partner, Canada
The US exported $348 billion to Canada in 2024. The commodities exported were broadly:
What are the most egregious tariffs imposed by Canada on American goods?
Dairy products are the ones Trump tweeted about. Politicfact explained it this way:
"After a small fixed quota of U.S. exports is reached, Canada imposes a tariff on any dairy products brought into the country, with the level varying a bit depending on the specific product. For instance, fluid milk is 241 percent, cheese is 245.5 percent, ice cream is 277 percent, cream is 292.5 percent, and butter is 298.5 percent."
So, depending on the statistics, it is technically honest to say that Canada admits US dairy products at a very low tariff (up to the quota amount). Once the quota is expended, however, the tariffs Canada imposes are so large as to be almost prohibitive. Thus, it is also technically true to say Canada imposes ~270% tariff on US dairy products (which Trump tweeted and which Politicifact calls "a reasonable mid-range estimate.")
So, is Canada harming US dairy producers? Sure. How high should the US set tariffs on Canadian products? That is subject for debate.
If I was a US producer who manufactured machinery, nuclear reactors or boilers, I'd be nervous. If I was a Wisconsin dairy farmer, I'd be cheering Trump on.
Let's look at our biggest trading partner, Canada
The US exported $348 billion to Canada in 2024. The commodities exported were broadly:
| United States Exports to Canada | Value | Year |
|---|---|---|
| Vehicles other than railway, tramway | $53.67B | 2024 |
| Machinery, nuclear reactors, boilers | $51.27B | 2024 |
| Electrical, electronic equipment | $28.30B | 2024 |
| Mineral fuels, oils, distillation products | $26.40B | 2024 |
| Commodities not specified according to kind | $24.32B | 2024 |
| Plastics | $15.07B | 2024 |
Dairy products are the ones Trump tweeted about. Politicfact explained it this way:
"After a small fixed quota of U.S. exports is reached, Canada imposes a tariff on any dairy products brought into the country, with the level varying a bit depending on the specific product. For instance, fluid milk is 241 percent, cheese is 245.5 percent, ice cream is 277 percent, cream is 292.5 percent, and butter is 298.5 percent."
So, depending on the statistics, it is technically honest to say that Canada admits US dairy products at a very low tariff (up to the quota amount). Once the quota is expended, however, the tariffs Canada imposes are so large as to be almost prohibitive. Thus, it is also technically true to say Canada imposes ~270% tariff on US dairy products (which Trump tweeted and which Politicifact calls "a reasonable mid-range estimate.")
So, is Canada harming US dairy producers? Sure. How high should the US set tariffs on Canadian products? That is subject for debate.
If I was a US producer who manufactured machinery, nuclear reactors or boilers, I'd be nervous. If I was a Wisconsin dairy farmer, I'd be cheering Trump on.
There is a big difference between being sane and level headed vs. being physically fit enough to lead. I will gladly say neither man is up to the task of leading our country. So far, I'd much rather have the previous administration's weaker leadership where I'm not whipsawed daily by random EOs, watching my spouse's work get cancelled by Kennedy, and losing massive chunks of our retirement savings.
