Quoting for posterity’s sake.
(Upon consideration: I think you know I’m mainly joking here.)
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This is going to be an unmitigated disaster.
I presumed it was going to be 10% across the board and then the charts came out.
You only believe that because Trump says so.
I actually agree with you. Markets have already lost $5 trillion, and I believe it is going to get much worse.
I’ve been staying silent thus far, but I’m now beginning to panic.
Maga put the fate of the economy in a guy that bankrupted a casino. What did you think would happen?
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Have you been reading my bearish doom-and-gloom posts all these months?
Did you choose not to act on them?
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My understanding is, these tariffs are blanket - everything from the country.
So, if say Viet Nam has a tariff on US bourbon of 90%, we are hitting them with a tariff of 45% on everything.
Maybe I’m wrong?
I think tariffs are a good tool. Putting tariffs on everything all out trading partners sell to us is moronic.
I would not be surprised if that is what he did.
Step 1:
We sell wheat to country A.
(We would sell them cars and steel except for tariffs)
We buy plastic toys and polyester clothes from the same country.
Decade after decade that “trading partner” puts tariffs on our wheat our steel and our cars.
Step 2:
Donaldus Maximus responds "Oh you wanna see a tariff? I show you a tariff.
Step 3:
People who never opposed a tax or a tariff in their lives, who never supported the free market in their lives suddenly become tariff-hating free-market lovers (and expect they have any credibility after doing that.)
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He said they calculated ‘tariffs’ by looking at the tariffs, and currency manipulation and other trade barriers, and came up with a figure.
it also seems to me that he is cherry picking sectors.
Here is an article about Viet Nam tariffs.
https://www.channelnewsasia.com/asia/vietnam-slashes-duties-imports-us-trump-tariffs-5036561
“From Mar 31, 2025, certain items such as cars, wood, ethanol, frozen chicken legs, pistachios, almonds, fresh apples, cherries, raisins, etc, will be subject to a new preferential import duty rate,” a statement said late Monday (Mar 31) on the government’s official news portal.
It added that import duties on some cars will be halved and the tax rate for liquefied natural gas will drop from 5 per cent to 2 per cent.
Tariffs on frozen chicken legs will be reduced from 20 per cent to 15 per cent, the rates on unshelled pistachios will be slashed from 15 per cent to 5 per cent, and for almonds, it will drop from 10 per cent to 5 per cent.
“I believe that Vietnam is doing everything they can to soften the blow,” said Bruno Jaspaert, CEO at DEEP C Industrial Zones in Vietnam and chairman of the country’s European chamber of commerce.
Trump claims VN has 90% tariffs on US goods.
Something isn’t right.
Maybe @Gaius can explain this?
Just a reminder - you voted for this.
Please see Viet Nam and their 5% pistachio tariff, and explain how putting a 45% tariff on them makes sense.
How dare you.
I only voted for the things I liked out of each administration.
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lol…
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So it’s 10% on the world and special higher rates on a very dozen countries.
Every trip to Walmart will be 10-30% higher. Home depot too…
This is madness.
Couple this with rising labor prices do to mass deportations, and no seasonal labor…food prices will be out of sight this summer.
I’ve got people. In actuality, my portfolio is up ever so slightly since the beginning of the year. It is down less than 1% from its peak late last year.
But overall, I’m still very uncomfortable with all of these tariffs. I do see the very real possibility of a major trade war, that would create some serious volatility in the world markets.
Part 1
The Lousiana Catfish famers are gonna LOVE LOVE LOVE this!
Wouldn’t surprise me.
Vietnam places (or did until recently) tariffs on US goods
- Automobiles: Tariffs can reach up to 70%
- Alcoholic beverages: 65%
- Tobacco products: 100%
In addition Vietnam has numerous non-tariff barriers
- Vietnam manipulates its currency
- Vietnam subsidizes is fish farms (producing fish similar to catfish and sold in the USA as “Basa” or “Swai”)
- Vietnam does not have a free market for land
- Vietnam does not have a free market for labor
- Vietnam does not have a free market for investment capital
The WH stacks these together and says Vietnam has tariffs and non-tariff barriers totally 95% on US products
I’m not going to go too far out on a limb defending 95%.
.
.
.
Part 2
What I will say "Yeah they have high tariffs on us. They also have very high very unfair non-tariff barriers. I am not surprised someone has spun that as 95%.
I am glad we are finally responding. If we stick together on this our response will do some good.
OTOH if we sell-out America and use this as nothing more than an opportunity to divide and attack Trump then our economy will be worse off.
I support fish farming. It helps save the planet.
I support American fish farmers and American jobs.
I oppose dictators, and even more so when they enact tariffs and non-tariff barriers.
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I have done that below. . . (I guess by now it is above)
It is pretty dishonest to say “their 5% pistachio tariff”
Is that your own personal dishonesty or did you blindly and willfully believe someone else’s dishonesty?
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But we don’t know that’s the point I have heard a lot of people say what they think they are charging the US on forums but nothing to back it and then the news isn’t saying a word about whether the list is true just that it’s going to cause pain.
I want to know if other countries have been ■■■■■■■ the U.S. like that for years.