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#tariffs

1.3K posts681 participants22 posts today
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JdeBP

@mcv @cstross

Other unintended consequences of #tariffs is that they remove price competition, and domestic producers can raise prices.

Not that this increases profits, necessarily, as of course any imported raw materials or parts now cost more; and labour demands higher wages.

So consumer prices go up, but domestic profits do not.

And the money goes into the U.S.A. federal coffers and thence … somewhere.

mastodon.scot/@JdeBP/114276846

mastodon.scotJdeBP (@JdeBP@mastodon.scot)What with entire government departments (e.g. USAID, USED) being shuttered and no Congressionally allocated funds being paid out, and huge tax hikes in the form of all of these extra #tariffs, no-one seems to be asking where all of this extra revenue and unspent appropriation is going. What are the Department of Dodgy boys, with their fingers in the government spending computers, doing with it? #DOGE #ElonMusk #DonaldJTrump #USPolitics #WorldWarThree
#economics#DonaldJTrump#ElonMusk
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Chad :mstdn: 🇨🇦

BREAKING: officials from MacDonald Islands released this image in response to Trump’s tariffs against the small, sovereign island.

Officials released this statement with the image: “Peace was never an option.”

#trump#tariffs#uspol
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Carolyn Barber, MD

“Trump’s gone full-on crazy,” says economist Paul Krugman.

“It’s not just that he appears to be imposing much higher tariffs than almost anyone expected. He’s also making false claims about our trading partners—not sure in this case whether they’re lies, bc he may be truly ignorant — that will both enrage them & make it very hard to back down.

paulkrugman.substack.com/p/tru #press #tariffs

Paul Krugman · Trump Goes Crazy on TradeBy Paul Krugman
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Coach Pāṇini ®

“Trump announced a sweeping set of #tariffs affecting almost every American trade partner. A day later, the stock market had its worst day since the pandemic, and economists warned that Trump risked plunging the economy into recession. On the plus side, there is no plus side. This is all really happening, and for no good reason at all. Sorry about that.”
platformer.news/trump-tariffs-

Platformer · TikTok’s fate could be decided by tariffsTrump is holding out ByteDance's app as a bargaining chip. Will China take the bait?
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JdeBP

@weekend_editor @cstross

It's wholly true, not just slightly more true because of penguins and a military base. (-:

Even #BBCNews has not really grasped in its reporting, even though it is running little explainers after the headlines (because viewers who lived in a single market for ~40 years are still not really used to the idea of tariffs being the norm), who is paying the taxes, in this case.

mastodon.scot/@JdeBP/114275513

mastodon.scotJdeBP (@JdeBP@mastodon.scot)Stupid #BBCNews. It's not the penguins that will pay, even in jest. All of #DonaldJTrump's tariffs are going to be paid by U.S.A. companies and U.S.A. consumers. This is an enormous tax raise *on* the United States of America *by* the United States of America. By a government that professes to be about lowering taxes, but actually isn't. #tariffs #WorldWarThree #economics
#tariffs#DonaldJTrump#USPolitics
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JdeBP

@mcv @cstross

The sad thing is all of the unintended consequences, such as pushing large parts of the world into closer relations with China.

In this sort of scenario, it's a push to move as much of the manufacturing chain as possible outwith the U.S.A. to Canada or to Mexico, so that it doesn't criss-cross multiple tariff borders, leaving only distribution and retail within the U.S.A..

#DonaldJTrump has not thought this through. Of course not.

#tariffs#WorldWarThree#USPolitics
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