Trump Plans 10% Tariffs on China Goods, 25% on Mexico and Canada

https://www.bloomberg.com/news/articles/2024-11-25/trump-plans-10-tariffs-on-china-goods-25-on-mexico-and-canada

34 comments

  3. Didn’t that dumbass say he needed Mexico and China help to stop the flow of Fentanyl?

  4. America, this isn’t what our exporters pay. It’s what the American importers will pay.

    And what you will pay.

    Enjoy your higher prices.

  5. All you guys upset about $4 eggs…Trump is about to give you $6 eggs.

  6. Canada: Wait. What did we do? (Attendez. Qu’avons-nous fait?)

  8. It’s not like we import a lot of food from Mexico, oh wait, we do. Billions of dollars worth. Ay dios mio.

  9. As a Canadian, this essentially is a death sentence for us small to mid-size businesses that relies on US customers. Even after Trump is gone, it’s almost impossible to get rid of these tariffs. I don’t know how much this will hurt the consumers, but trust me when I say this, if Trump wants us to open up shops in the US and hire US workers, the cost of it alone will bankrupt most of us. This fucking sucks, because we really like our US customers and we’ve been serving them for years, I even know their families, so this will be a difficult conversation to have…

  10. Well I guess we and Mexico have no choice but to raise tariffs 25% on our side.

    Then Trump raises it again and we get sucked into this tit for tat exchange until we can’t keep up.

    Is this really where America wants to go because it’s going to be a disaster for EVERYONE.

  11. Not surprised. Trump always likes Russian and China more than Mexico and Canada

  12. He talked about tariffs for a long time as a money raising thing, but I think we’re all waaay past that now. He can’t actually believe it raises money.

    So why was he being secretive about the reason for tariffs– doubling down on economic protectionism & isolationist policies? What is his real intent? That certainly fits the withdraw-from-NATO talk, abandon Ukraine talk, etc. Is he wanting to take us back to pre-WW2 isolationism? If so, I don’t see how that fits really well with the supporting Israel rhetoric.

    I’m not seeing the path to fully revitalizing a tariff-protected manufacturing economy in the U.S. that can compete with Mexico, China, etc.
    Yet he still wants to keeping immigrants out– the one population willing to work for lower wages. Is he planning on destroying all unions and drastically lowering U.S. avg income, to make us competitive with Mexico?

    How does this not result in sharp inflation in costs and deflation in wages? Who is planning and thinking this through? I’m really missing his big economic picture. Then again, I think we’re all missing his big health-care picture.

  15. Oof. Yeah, this is not good—not good at all. The man’s speedrunning a recession to own the libs.

  16. I would like to propose the name “The Yuge Depression” for the economic catastrophe to follow.

  18. At least the DOGE frauds will have a first order of business: eliminating the subsidies to our farmers to offset Trump’s tariffs

  19. He says there’s a massive caravan coming from Mexico through the open border that can’t be stopped.

  21. uh oh! There goes your grocery bill, MAGAts! Hope you don’t want to keep eating that out of season fruit.

  22. So what happened to 100% tarrifs on Chinese goods? Dump loves dictators and strong armed men. Or just scared shit of the repercussions? In either case he will gloat over ‘promises kept’ and stiff the population with higher prices.

  23. Trump is not, and never has been the economic genius he’s touted as by both him and his supporters. And the point needs to be driven home that he, in fact, wasn’t “better for the economy”

    – Trump inherited a growing economy. All he had to do was ride those coattails, but as soon as a real crisis emerged—the covid pandemic—he mismanaged it at every turn and left office with the economy in tatters. While in the aftermath, he succeeded in scapegoating others like Dr Fauci and Joe Biden. What’s frustrating, is that Trump will be inheriting a growing economy for the second time.

    – An economic crisis occurred at the end of the last two Republican administrations. A democrat president stepped in both times and was forced to oversee an economic recovery and handle the subsequent fallout. Republicans exploited both opportunities to point fingers at their opponents, choosing to take advantage of a crisis for political gain and campaign talking points.

    – Under Trump, the national debt ballooned by nearly 40%

    – Trump’s tax cuts legislation, which disproportionately and permanently benefited the rich and corporations, did not “pay for itself,” and has/will cost the government an estimated trillions.

    – Trump put pressure on the fed to keep interest rates low for a political edge. This only worsened inflationary issues.

    – The Trump administration hamstringed the labor movement, made it more difficult for workers to unionize and operate effectively.

    – Trump didn’t just mismanage the pandemic, but he shirked responsibility and encouraged his supporters to politicize every aspect of COVID, dividing Americans during a time of crisis.

    – Trump started a trade war with China and his tariff policies were disastrous for Americans.

    *It must be emphasized that all of these things and more contributed to economic and inflationary issues that extended into the Biden administration.*

    Now, to elaborate more on Trump’s tariffs.

    Most economists agree that tariffs, especially if they’re not carefully implemented, generally do more harm than good, and disproportionately hurt lower income Americans.

    This was made evident by Trump’s tariff policies and the trade war he instigated during his presidency. To put it simply, it hurt Americans BIGLY.

    And now he’s proposing higher, across the board tariffs that will have even worse economic impacts.

    We haven’t seen tariff policies like this since the Smoot-Hawley Tariff Act, which accelerated the Great Depression and brought global trade to a stand still.

    The process of determining tariff rates is a delicate one, and a process that Trump couldn’t be bothered with. It should involve complex negotiations and careful considerations. Things Trump couldn’t care less about. This is precisely why the Biden/Harris administration was forced to reform Trump’s tariff policies, adopting a more selective and calculated approach

    Trump’s tariffs have and will generate economic tensions, raise prices, hurt domestic industries and pass costs down to the consumer.

    They will also hurt rural communities just as much, if not more than they will Americans living in cities. While small businesses will face economic challenges of their own as they have fewer resources and less power to manage the consequences.

    > In general, it is believed that Trump’s tariffs did more harm than good, costing companies billions of dollars and reducing the demand for exported goods that were hit with retaliatory tariffs.

    > In a survey of economists conducted by Reuters, the Trump administration’s tariffs were very poorly received. Almost 80% of the 60 economists surveyed believed that the tariffs… would actually harm the U.S. economy… All in all, none of the economists surveyed thought that the tariffs would benefit the economy.

    > A CNBC study discovered that Trump’s tariffs actually hurt consumers greatly and equaled one of the largest U.S. tax increases in decades. Researchers have also found that the Trump tariffs lowered the real income of American workers and reduced GDP. In 2021, the Biden administration worked to undo many of these harmful trade barriers.

    And when it comes to the trade deficit that Trump blames Biden for:

    ***The U.S. trade deficit grew under Trump’s tariffs, from $481 billion in 2016 to $679 billion in 2020.***

    The trade war Trump started targeted American farmers and agricultural workers in the Midwest most of all, These are the same political groups that voted for him in droves.

    As the trade war continued:

    > tariffs were also shown to reduce employment and economic output, impacting the overall U.S. economy and people’s livelihoods. The tariffs also did significant damage to relationships with other countries, particularly allies

    Trump’s current tariff policies have been picked apart by most economists, and the consequences are estimated to be severe. This is what Harris was talking about when she referred to Trump’s “national sales tax.” Most of the damage is expected to trickle down to consumers and small businesses. While it’s very likely that Trump doesn’t even know how tariffs work.

    Trump is not an “economic genius,” he is a notorious financial fraud who lies about his wealth and threatens to sue anyone who speculates about his *real* worth. He’s bankrupted or crippled practically every business, product or service he’s tried to slap his name on.

    Trump has been involved in over 4,000 legal cases, many of them including financial crimes.

    Tax information also shows that over a period of time in the 80s and 90s, Trump had lost more money than any other American taxpayer. What a loser! Literally…

    Here’s a long list of Trump’s business failures:

    – Trump Casinos and Hotels
    – Trump University (The Trump Entrepreneur Initiative)
    – Trump Magazine
    – Trump Airlines
    – Trump Beverages
    – Trump “The Game” (yes a Donald Trump boardgame)
    – Trump Mortgages
    – Trump Steaks
    – Trump Travel Site
    – Trumpnet
    – Trump Tower Tampa
    – Trump Vodka
    – Trump Fragrances
    – Trump Mattress
    – Trump Network
    – Tour de Trump
    – Trumped! (Trump Radio)
    – Truth Social (why not call it “Trump Social” at this point?)

    Donald Trump is not some financial guru, his administrations “economic achievements,” by most metrics, benefitted the rich at the expense of everyone else. His greatest financial achievement was inheriting daddy’s empire.

    Before The Apprentice, Trump had squandered his riches, and if it weren’t for his lucky reality TV show break, he’d be known as the failure he was always destined to be.

    The next Trump administration will destroy what’s left of the labor movement, which has been in steady decline ever since Reagan stepped into office. Don’t forget Trump’s recent remarks in front of a crowd of union workers, where he said he “hated” giving overtime pay.

    Over the next four years, the MAGA coalition will use Trump to implement an agenda that will continue to redistribute wealth to the top, an agenda that Republicans have been working towards for decades.

    Even Trump’s immigration policies, and his plan for the “mass deportation” of immigrants, will reduce our economy, as it’s estimated that Immigrants add trillions of dollars to our GDP. And make no mistake, the new Trump administration will have *all* immigrants in their sights.

  24. *grabs popcorn and kicks feet up*

    I did my part in a red state to avoid this disaster. This is going to suck for all of us but at this point sometimes the child has to touch the hot stove to learn that it’s going to harm them

  25. A lot of our lumber comes from Canada, which will drive up the cost of new construction homes.

  28. If we’re going to put tariffs on things… why in the hell are we charging one of our rivals 10% and our ostenisible allies 25%?

    Tariffs are such a rock fuckin stupid way of operating in the global world we’re in now… but it’s even dumber to hammer our friends and mollycoddle our enemies.

  29. 25% tariff on Canadian imports. According to MAGA, the president has a magical dial on gas prices and Trump is about to crank it up to $6.00/gal.

  30. Is this Project 2025 shit or is it Trump being a Russian asset shit?

    Just trying to understand the motive for intentionally destroying the US economy and who wants to benefit from it.

  31. Liberal democracy requires an educated populous. Severe pain might teach some people, but I don’t have a lot of faith it will make a difference. The same cycle repeats itself. No one learns a fucking thing.

  32. If Trump’s proposed tariffs are actually implemented, they would make everyone yearn for the “good times” when post-COVID inflation was only 11%.

  33. He’s gonna do this and give billionaires and corporations another tax break so they get richer and we get even more cash strapped

  34. I mean, c’mon.  Dude is a Russian asset.  Combative with NATO, going after NAFTA trade partners like Canada and Mexico, thus weakening our influence in the western AND Eastern hemispheres.  It can’t be coincidental.

    And our voting (and non-voting) population is too stupid to see it and do something about it.

Comments are closed.