DT's back from the golf course early this week I see.
DT's back from the golf course early this week I see.
"No ability to bring him back"
Jesus Christ these people are truly evil.
The air jordan logo is on their list of tattoos that mark you out as a gang member.
10% tariffs for us, 20% for the EU. I wait to see how James O'Brien spins this so as to continue his stance of no good things coming from Brexit. He's probably furiously masturbating into a mirror while working through tomorrow's opening monologue as I type.
Seems we've been rather fucked by the 10% floor.
Everyone else gets their reciprocal tariff at half rates, we get the full 10/10.
That'll be the angle then.
When you say 10/10, do we have tariffs on goods to the US already?
Pretty tenuous to claim this as any sort of vindication for Brexit but ok.
So Ameri-nerds, do you feel liberated yet?
Not what I said, but ok.Originally Posted by Disco
In fact this would be a great time to have much easier and better trade with our closest neighbours.
Probably, there are tariffs on everything. They've also been calculating 'non-tariff barriers' although seem to have fallen short of declaring VAT an import tax at least.
It is the same as Brexit to an extent in that everyone shits themselves over how important international trade is when it really isn't.
As long as it doesn't completely tank the global economy you can sort of see the sense of it. Maybe everything shouldn't be made in China. Maybe things becoming more expensive will have some unforeseen benefits, like the death of fast fashion etc. It'll probably go badly wrong though.
The thing that seems to be being focused on whenever I see any critique of the approach is that the consumer ends up paying the tariff as if that's some sort of gotcha. It isn't because Trump's been fairly clear that one of the aims of this is to encourage businesses to the US, which seems like pretty sound logic. Whether it will work or not is another story.
Oh and on the tariffs are on everything point, lol if he's only doing to other countries what they're already doing to the US.
Didn't they choose to outsource it to slave labour because capitalism...
Absolutely, and it's made them the richest country in the world / ever.
Which is a bit where the whole you're going to be rich again might fall down a bit. This won't help 'Ordinary Americans' in all likelihood.
Companies definitely did.
I think it could work out reasonably well for America. They can produce pretty much everything they need, and they lots of cheap energy, so that should level it all out somewhere along the line. Everybody else no idea. Europe probably lol, us maybe not as lol.
Based in...?
Isn't there a slight flaw in the immediate plan, highlighted by Trump himself, that all advanced microprocessors are made in Taiwan and they're now however much more expensive tomorrow. Yeah, you can make your own eventually, but you can't make them this year.
Surely if your tariffs are supposed to promote goods manufactured at home and they're making you loads of money then they aren't really working. Not that logic has ever bothered Trump, he's only in this so people can put money in his pocket in exchange for carve outs. He's already said he doesn't give a fuck if things get more expensive.
He has at least continued his obsession with holding up big dumb charts, what a fucking goober.
I wanna see the details on what crazy shit Laos and Madagascar was getting up to that managed to get them into mid 90s of tariffs on US products.
I don't normally like to talk about these private matters, but the 34% additional tariff on China was a genuine instant boner. First thing I'll spend my extra commission on is a tee time at Trump Turnberry.
All joking aside I'll probably be made redundant again because tech kit is going to rocket in price. Oh well.
As for the Brexit angle, unfortunately for Remain fans this is exactly the sort of far-off development - completely unforeseeable in 2016, with Obama in the White House, woke on the rise and globalism in full swing - that made Leave the far superior long-term strategic choice than Remain. It doesn't mean that Farage gets to swing his shirt around his head and say I told you so - because he didn't tell you so - but it is still undeniably the case. Covid was another, war might be another. You have to be nimble. Short term inconvenience is not important and does not matter.
He has at least continued his obsession with holding up big dumb charts, what a fucking goober.
This seems really smart as a country that devalued it's currently 20 years ago specifically to boost its export ability.
He has at least continued his obsession with holding up big dumb charts, what a fucking goober.
This seems really smart as a country that devalued it's currentcy 20 years ago specifically to boost its export ability.
It's some of the thickest shit imaginable. As if the modern American youth is gagging for a 40 year stint in a re-opened steel mill.
Problem is, even things made in the US are rarely made with 100% American inputs. You need to get materials, parts, etc. from other places and pay tariffs on them, so even stuff made in the US becomes more expensive. Also, even if it were to lead to people buying more things Made In The U S of A (as opposed to just buying less stuff), it means that people are paying more than they should for things. Good for the company making the items, bad for the (far more) consumers of the item. Plus, even if it benefits the workers of said company, even they have to pay more for everything else. Yet another system were a few people win while the vast majority lose.
The full list is great. Bits of France get different tariffs despite being in the EU, they've tariffed a volcano, and an island full of penguins.
Aye, they've also tariffed Heard & McDonald Islands off the coat of Australia with a population of... zero.
Damn coastal elites.
Unfortunately we appear to have got off lighter than expected with the pharma exemption.
Fuck looking at numbers at this time of morning to see if it's viable, but won't this give us leverage to become the EU's export hub?
The Isle of Shite
The main question is how will this affect my Costco shop?
One thing I noticed during the freewheeling was that he called the Nvidia Nuh-vidia, I've always said En-vidia, although in fairness I also always wanted to say Bruno En-gotty, which I know is wrong.
Taiwanese semiconductors are exempt. Makes this a very slightly less massive shit show.
He also says 'groceries' like it's a word he discovered yesterday so I wouldn't worry too much.
Bow to your AI overlords.
Ah, I see. Much like most of Ireland's €50bn trade deficit with them. I mean, what the fuck? Germany, industrial powerhouse of Europe, maker of things, 83m hard working drones, only manages a £90bn deficit. What the fuck are 5 million people on a rock in Atlantic 'exporting' [other than tax avoidance]?
Viagra.
What do you mean other than tax avoidance? It's all tax avoidance.
Yeah, but it's hard to imagine how tax avoidance can be classed as a 'good'.
Do they actually make the drugs there or do they just licence the IP / shelter the profits as per all of the other big US companies making theirs a triple?
I see 'the markets' are taking this well.
I was reading earlier how the likes of Nike etc are essentially uninvestable in now due to their reliance on far eastern manufacturing.
What happens when the foreign made stuff is still cheaper with the tariffs than making it in the US would be? More tariffs?
It'll be classed as Consultancy Services or something nebulous like that.
Manufactured here. The place is covered in pharmaceutical manufacturing plants.
Massive drops on Wall Street. Will be interesting to see if this continues whether there's a mechanism for those in the background pulling the strings to get rid of him sharpish, ala Truss over here.
I suspect there isn't.
Imagine if there is though.
It's a cult at this point, the whole point of surrounding himself with idiots and sycophants off the telly was so he could do whatever he wanted without being gainsaid by anyone with a brain which happened occasionally the first time around.
The mechanism is Republicans in Congress. Rand Paul, Mitch McConnell and some other Republican I can't remember already came up with a bill to stop the Canada tariffs, but I doubt that there are many others with balls.
As for the markets, they haven't crashed enough, if anything.
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