2天前

"Liberation Day" Trump’s Tariffs on Europe

cross-posted from: https://lemm.ee/post/60291330

kudos to s h i k o r a
edit: complete list is here (4 pages long)

BuyFromEU @feddit.org

nuko147 @lemm.ee

3天前

"Liberation Day" Trump’s Tariffs on Europe

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44 评论

I literally dont understand what they are doing. Sometimes trumps decisions seem truly random. Why did they put tarrifs on israel? Arent they huge zionism fans?
- Because America has a trade deficit with them. If a country exports more to America than they import back then Trump sees that as losing. He can't understand the situation any other way. He sees all deals as a power balance and the one who gets more money is the winner. All these seemingly random ass tariff rates are designed to erase any trade deficits with brute force, because that's the only thing Trump understands.
  
  I know Trump is dumb. I know his administration is dumb. I still can't fathom that someone is this stupid. Does he really think all goods that are currently being imported will magically start being produced in the US, just because he puts import tax on them? I just can't wrap my head around someone being so incredibly naive so he either must be
  Actively trying to destroy the american economy, probably because Putin wants him to
  There is some other plan that we just don't see yet Or 3. He really is that stupid.
  
  While not supporting the idea, this video gives some insight into what the actual plan may be.
  Just discovered this channel, worth watching.
  
  I know Trump is dumb. I know his administration is dumb. I still can’t fathom that someone is this stupid.
  Oh but it can get more stupid, don't you worry. The following is a quote from Trump's Trade Representative, where they describe how the tariffs were calculated:
  The recent experience with U.S. tariffs on China has demonstrated that tariff passthrough to retail prices was low (Cavallo et al, 2021).*
  What is this recent experience that the Trump administration learned from, you ask? Cavallo et al studied the impact of Trump's tariff on China in 2018! What else did they find?
  US profit margins decreased on both imports AND exports as a result of the tariffs, while China’s was much less affected. The paper clearly shows American tariffs hurt Americans more than literally anyone else, and the Trump Administration "read" that paper and publically cited it as a source on a government website.
  Our analyses indicate that the price incidence of US import tariffs falls largely on the United States... Our results suggest that retailers are absorbing a significant share of the increase in the cost of affected imports by earning lower profit margins on those goods... [These analyses reveal] that the recent tariffs applied by foreign governments on US exports have affected total foreign import prices far less than was the case for the recent US tariffs
  *Please note while prices remained stable in response to that one tariff, Cavallo did not suggest it was a generalizable fact. It's not.
  TL;DR:
  Research shows Trump's 2018 tariff hurt US importers' profit margins more than anyone else. They paid the cost (that time) to keep prices stable.
  It also shows China's reciprocal tariffs hurt US exporters much more than it hurt China's importers.
  The Trump administration legitimized this research when they cited it in their flawed reasoning that domestic prices always remain stable after tariffs (they don't)
- It's all done with a crude metric - half the current "tariffs" on American goods to a minimum of 10%.
  Russia are, presumably, not on the list because they are sanctioned and there is no trade.
  
  there is no trade.
  But there is and what's remaining in trade is exempt from Trump's tariffs because of him being a Putin fanboy.
- I literally dont understand what they are doing.
  Lol. Did you still expect to?
  Anyway, they clearly have no idea what they are doing. Absolutely no idea. But this one seems to be calculated by an academic that used an impersonal objective formula that he expects to zero the trade deficit.
  Somehow, it's one of the economists that don't know that tariffs don't have a direct impact on the total trade deficit. Probably, an "economist", but I didn't check.
  
  It requires things you intuitively gain in preschool if you have any empathy. If you lack that, you keep making these mistakes and running nations and companies and people into the ground unless someone stops you
- Crash the economy so the rich can buy everything at cheaper prices
- Companies will be selectively opted out for dropping DEI and replacing it with a christofascism-approved alternative of pushing out everyone not christian, white, able-bodied, cishet, etc., all under the name of "faith protection" and "meritocracy".
  Countries will likely be opted out if they stop "censoring big tech". (They should just kick them out altogether.)

44 评论