Trump's Tariffs and Possible Trade War

[Huckleberry]

https://twitter.com/i/web/status/1908219897676484879

John Kasich:
Supporters of these tariffs - a tax on Americans - want you to believe the U.S. is a helpless victim in global trade. It’s just not true. The real cost of these reckless policies will fall on American farmers, manufacturers, and families already struggling to get by.



Kasich is the man I wrote in when I refused for the first time to cast my vote for the GOP nominee. Though I disagreed with his stances on some important issues, I thought he was an honorable man who loved his country and cared about all of the the people he served, something that can't be said about today's GOP. And he's been right about Trump since at least 2016.

 

[Huckleberry]

President Trump’s Tariff Formula Makes No Economic Sense. It’s Also Based on an Error.

President Donald Trump announced tariffs on practically every foreign country (and some non-countries), ranging from a 10 percent minimum all the way up to 50 percent. He described the tariffs as reciprocal; however, they are nothing of the sort.

www.aei.org

From the American Enterprise Institute:
President Trump’s Tariff Formula Makes No Economic Sense. It’s Also Based on an Error.

 

[Huckleberry]

https://twitter.com/i/web/status/1908296026877780153

Jonathan Capeheart says he agrees with David Brooks that the president's tariffs, and the resulting economic fallout, are "the single dumbest domestic policy move I've ever seen." "It doesn't seem to make any sense," he says. "It makes no sense to the layperson, it makes no sense to Wall Street experts."

 

[bamaga]

Sometimes it feels like no one remembers anything more than a few months ago.

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On the bright side of a down market, and I may be ignorant in the market, but I’m buying like Billy Ray Valentine in trading places. My market ignorant ways have out performed my Robo directed trading accounts by a large margin over last few years. I hope everyone keeps selling, I’m buying for the long haul, not for next week. Oh, and thanks to the Crypto President. I’ve lost thousands on my crypto accounts but I am still buying there, too . Maybe I’ll be super rich or super broke in 5-7 years.

 

[JDCrimson]

Remind me what % of our population owns stocks?

Sometimes it feels like no one remembers anything more than a few months ago.

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[crimsonaudio]

Remind me what % of our population owns stocks?

I posted this for all those I see on social media panicking over the markets.

 

[tusks_n_raider]

I have no firm idea what the end result of this Tariff nonsense will be.

But he’s hurting Americans right now financially.

People are watching their retirement plans go up in smoke in real time.

I follow a few Investor/Stock market groups on Reddit and tonight they’ve had Suicide prevention information and contact numbers pinned to the top.

Things are really bad right now.

Fwiw I believe Trump is deranged and stupid and too narcissistic and stubborn to listen to anyone who is actually smarter than he is.

 

[bamaga]

I have no firm idea what the end result of this Tariff nonsense will be.

But he’s hurting Americans right now financially.

People are watching their retirement plans go up in smoke in real time.

I follow a few Investor/Stock market groups on Reddit and tonight they’ve had Suicide prevention information and contact numbers pinned to the top.

Things are really bad right now.

Fwiw I believe Trump is deranged and stupid and too narcissistic and stubborn to listen to anyone who is actually smarter than he is.

No way to argue that, honestly. And the worst is yet to come to everyday Americans in the form of higher prices.

 

[Bamaro]

Remind me what % of our population owns stocks?

According to the Federal Reserve, here's how many families held stock in 2022:

• 58% of U.S. families (about 72 million families) held stock.
• 21% of U.S. families (about 26 million families) directly held stock.

How Many Americans Own Stock? More Than You Think | The Motley Fool

I think the total is now about 62%

 

[JDCrimson]

Okay, i was making the case that the population who doesnt has been getting destroyed financially since covid and these measures by Trump will likely push a lot people over the edge...

I mean Im seeing numerous quotes where Trump posted on Truth Social this was is a great time to get rich...

These kind of comments during such emerging times is beyond callous.

I posted this for all those I see on social media panicking over the markets.

 

[CrimsonNagus]

Small point of clarification, it's $700 billion, not milion (see graphic below):

View attachment 50271

All earned on the backs of Americans already struggling the most. Many who voted for this idiot, many who believed his lie that he would lower prices day one. They once again believed the Trump and Fox News lies and will now pay the price, literally.

 

[JDCrimson]

Just had a conversation with a shoe retailer. He is hearing there will be $20-$40/pair increase in shoes from the wholesalers...

 

[crimsonaudio]

 

[jthomas666]

https://www.reuters.com/business/aerospace-defense/aircraft-supplier-howmet-may-halt-orders-if-hit-by-trump-tariffs-letter-says-2025-04-04/

Pittsburgh-based Howmet said in the letter to customers that it has declared a force majeure event, a legal practice that allows parties to a contract to avoid their obligations if hit by unavoidable and unpredictable external circumstances.

 

[Huckleberry]

https://twitter.com/i/web/status/1908878421003731276

Larry Summers: This is a moment of testing for Trump's advisors. The intellectually honest ones know that this reflects the President’s 40-year fixation, not any kind of a proven economic theory. This is the economic equivalent of what creationism is to biology or what ending vaccines is to medicine. The question is whether his advisors are going to have the courage to tell him and the courage to step away from being part of these policies, if he's not willing to readjust.

 

[bamacpa]

I have no firm idea what the end result of this Tariff nonsense will be.

But he’s hurting Americans right now financially.

People are watching their retirement plans go up in smoke in real time.

I follow a few Investor/Stock market groups on Reddit and tonight they’ve had Suicide prevention information and contact numbers pinned to the top.

Things are really bad right now.

Fwiw I believe Trump is deranged and stupid and too narcissistic and stubborn to listen to anyone who is actually smarter than he is.

Our soybean farmers never regained lost market share from the trade war with China in Trump's first administration. Of course, that was addressed by increased federal farm subsidies which inflated the deficit. The idea that this guy is going to cut the deficit is laughable...or cryable might be a better term.

 

[JDCrimson]

So Brazil can sell more soybeans to China, they will cut down more rainforest to convert farmland which will drive up global warming... I cant stand all this winning...

Our soybean farmers never regained lost market share from the trade war with China in Trump's first administration. Of course, that was addressed by increased federal farm subsidies which inflated the deficit. The idea that this guy is going to cut the deficit is laughable...or cryable might be a better term.

 

[CrimsonNagus]

The idiot doesn’t even know what groceries are, calling them a bag full of stuff and the word old-fashioned. He’s never shopped for groceries a day in his life. When his disastrous tariffs send prices up, he will not feel a single pinch and he doesn’t care. Worse, he can’t grasp why others care. He thinks we should all just be able to live with it like him, because he lives in his own billionaire bubble world.

 

[selmaborntidefan]

Sorry I’m a little behind.

Was it DEI or a trans athlete that crashed the stock market?

 

[jthomas666]

Donald Trump says he is not looking at pausing tariffs as US markets close after rocky day – as it happened

US president, when asked about considering a pause in global tariffs, says ‘We’re not looking at that’

www.theguardian.com