China’s is actually the highest, as this goes on top of their existing 20% tariffs, making it 54%. Fantastic.
Hmm it’s as if tariffs generate a huge amount of additional revenue for the federal government
Finally, Madagascar gets its comeuppance.
The only inanimate object that’s non-compliant with the US-Mexico-Canada trade agreement is the one occupying the US White House.
So let me get this straight.
We send a lot of money to Vietnam. In return, Vietnam sends us a bunch of stuff that we ordered, such as shirts.
This is apparently grossly unfair; therefore we are going to put a 46% tax on everything Vietnam sells us, making it more expensive for us to buy anything from Vietnam.
Vietnam is now punished for the terrible sin of selling us stuff we wanted to buy in the first place, and they are really going to hurt because we pay such a high tax every time we buy a Vietnamese shirt that we’ll stop buying them. Right?
No, that’s not how it works.
The “logic” of tariffs is that American businesses will see an opportunity: now that Vietnamese shirts are more expensive, they are going to scramble to open new factories on US soil to manufacture shirts not subject to the tariff. But of course, no one in America wants to work for $2/hour (roughly the high end of wages of a Vietnamese factory worker). The lowest minimum wage is $7.25, 4 to 6 times the Vietnamese wage. So the American shirts would still cost far more than Vietnamese shirts, even taking into account the price increase on Vietnamese shirts due to the tariff, and no one would buy them. So no American shirts are going to get made.
So, who benefits from all this?
Well, there won’t be any new American jobs. But there will be LOTS of money pouring into the government coffers due the tariffs. Which means that Congress can pass the tax cuts on the wealthy it’s been planning all along and not have to worry about increasing the national debt. Trump, Musk, and the other very wealthy people who run the world get richer, and the rest of us get poorer.
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Ah yes, our greatest geopolitical enemy: Vietnam.
Are you not feeling liberated today? My IRA certainly is. Much lighter!
John, I told your if you are mean to your friends they will not invite you to their parties anymore.
And they likely used ChatGPT to determine which tariffs the countries received!!!
[source](https://www.theverge.com/news/642620/trump-tariffs-formula-ai-chatgpt-gemini-claude-grok)
China’s is actually the highest, as this goes on top of their existing 20% tariffs, making it 54%. Fantastic.
Hmm it’s as if tariffs generate a huge amount of additional revenue for the federal government
Finally, Madagascar gets its comeuppance.
The only inanimate object that’s non-compliant with the US-Mexico-Canada trade agreement is the one occupying the US White House.
So let me get this straight.
We send a lot of money to Vietnam. In return, Vietnam sends us a bunch of stuff that we ordered, such as shirts.
This is apparently grossly unfair; therefore we are going to put a 46% tax on everything Vietnam sells us, making it more expensive for us to buy anything from Vietnam.
Vietnam is now punished for the terrible sin of selling us stuff we wanted to buy in the first place, and they are really going to hurt because we pay such a high tax every time we buy a Vietnamese shirt that we’ll stop buying them. Right?
No, that’s not how it works.
The “logic” of tariffs is that American businesses will see an opportunity: now that Vietnamese shirts are more expensive, they are going to scramble to open new factories on US soil to manufacture shirts not subject to the tariff. But of course, no one in America wants to work for $2/hour (roughly the high end of wages of a Vietnamese factory worker). The lowest minimum wage is $7.25, 4 to 6 times the Vietnamese wage. So the American shirts would still cost far more than Vietnamese shirts, even taking into account the price increase on Vietnamese shirts due to the tariff, and no one would buy them. So no American shirts are going to get made.
So, who benefits from all this?
Well, there won’t be any new American jobs. But there will be LOTS of money pouring into the government coffers due the tariffs. Which means that Congress can pass the tax cuts on the wealthy it’s been planning all along and not have to worry about increasing the national debt. Trump, Musk, and the other very wealthy people who run the world get richer, and the rest of us get poorer.
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