I'm not being hyperbolic. The numbers they released are 100% made up, as in not based in reality at all.
These are completely made up numbers
Too bad foreigner
they're very real when they arrive in the US ;)
Well, the retaliation will be based on reality for sure.
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff,[1] was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised U.S. tariffs on more than 20,000 imported goods.[2]
Excluding duty-free imports, when enacted, the tariffs under the act were the second highest in United States history, exceeded by only the Tariff of 1828.[3] The act prompted retaliatory tariffs by many other countries.[4]
The act and tariffs imposed by U.S.'s trading partners in retaliation were major factors in the reduction of American exports and imports by 67% during the Great Depression.[5]
Economists and economic historians have agreed that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.[6]
Invest in cans of beans and sacks of flour.
Everything is fake and gay now. I just threw on Yahoo Finance to hear what they're saying about the news.. Kind of major news. Like really really big fucking news for the financial industry.
What is Yahoo Finance talking about?
They're interviewing an ex-homeless trans woman about what it was like for her to start a modeling career while homeless.
Not joking, that's literally what's on right now.
>Economists and economic historians have agreed that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.[6]
The recession is an unfortunate but necesssary step on the road towards depression.
yes, they are pretty much made up
seems trump still doesn't understand trade deficits and thinks an economy the size of madagascar should consume as much as the US
brazil went from 10% to 10%
NOOOOOOOOOOOOOOOO
I know, but this is just so ridiculous. These "tariffs" appear to include stuff like VAT, which is paid by both foreign and domestic companies, so how is that a tariff? Trump talks about tariffs all the time, but doesn't even know what a tariff is. There will be so much pain and it could have all been avoided.
The media is so fucking gay and bad now. If we still had hard hitting reporters with press cards in their brimmed hats and big cameras that burn out the flash bulb in one exposure we never would have gotten to this point.
Its worse he just asked chatgpt to do it
Because it's not about avoiding pain. It's about him causing problems and making people suffer, feeding his narcissistic need to make himself the center of attention.
Good God. We are ruled by actual retards.
what the actual fuck
I would not buy this 100% as the actual math, but it wouldn't surprise me. The way Trump has talked about trade deficits as "screwing America" in the past makes it really clear he simply doesn't get it
how did he get 39% for the EU?
is VAT related to this?
did they explain to him what VAT is ?
that's why people suspect these crazy math schemes, the numbers simply don't add up
and I have no doubt many people tried to explain VAT to trump, if he understood them... well.....
wrong, they're not made up
they're just the tariffs needed to get the trade deficit to 0 kek
So I have a trade deficit with the local bakery because I buy bread every day from them? And that is somehow bad? Is that the retard's logic?
yes
he's that fucking retarded
even countries the US has a trade surplus with are getting hit with the 10%, so they work to increase the deficit
yes, why dont you want the bakery to bake bread at your home and also employ(fuck) you wife too?
I actually, really, cannot believe it
Im being hypergolic and ill tellya hwhat
interest rates?
Quintuple'm
tarriffs?
Quadruple'm
deflation?
Triple'it
taxation?
Double the taxes
.
Hope you cashed out
Mentioning the Smoot bullshit is a 100% retard shill redflag. Post the discord you fucking bot
Yep. He's that dumb but so much of america either doesn't care or is <=
Everyone ITT is so incredibly naive it hurts. Trump may be a senile retard, but the people running the show aren't. This is intentional. It's malice, not stupidity. They are deliberately crashing the economy and they'll make a killing. Their greed knows no bounds.
the people running the show aren't
Meaning?
idk some of them like Peter Navarro are straight up nut jobs. A lot of them are true believers in the rhetoric the right has been pushing for decades.
The people running at the show are the voters. Even if there is a shadow cabal writing out these tariff plans, the voters are the one who gave them the justification to carry it out.
Whatever damage these tariffs do to the poors, the blue collars, the young men out of high school, let them suffer it. They asked for it.
Yes, totally made up and this is the proof. They put higher tariffs on Aussie territories without knowing they are Aussie
Trump may be a senile retard, but the people running the show aren't.
Tragic as it is, Trump IS running the show this time, and this is what he had in mind all along. Crashing the market with no survivors.
I mean he also put tariffs on two islands that are owned by australia but are literally uninhabited
no its not bad it's extortion
what the fuck these pussies gonna do?
why have the biggest military on the planet and not bully retards for protection money?
Where's Isreal?
lol wtf
The last 3 months proved muh deep state was retarded schizo hallucinating a boogeyman
You will foot the bill.
This is the level of financial analysis I want my bank to do as well.
cause we dismantled it, loser.
Btw, Trump won!
No, actually, people thought Trump would just reverse Joe Biden bullshit and stabilize the economy.
Yes, he pursued some tariffs his first term. Very small compared to what he is doing now. If you'll remember, the economy was doing well before COVID. The stock market was rising. This was Trump and his administration being good stewards of the economy. He tinkered with NAFTA so he could put his signature on it.
Look at the fucking stock market today. Look at the last two months. It's a fucking disaster. This is not responsible. This is crazy horseshit that will transfer money from less well of people to the most well off. Almost everyone will get poorer. People will be very skeptical of trade with America now.
4 fucking years of this. I don't want to get too apocalyptic here, but there is the potential for things to get very bad. They're already really bad.
????
Term 1 Trump had a bunch of tard wranglers surrounding him to make sure he didn't make super damaging decisions.
Trump then proceeded to fire most of these people over his first term and then got rid of almost all of them during the time between Term 1 and Term 2.
Term 2 Trump is him with a bunch of people who don't know how to do much more than suck him off which is why we are just seeing baffling decision followed by baffling decision.
nah i'll just continue not being a mindless consumer
the most prolific liar in the world has lied about the numbers
shocker
Yeah I know he surrounded himself with Yes Men and retards like Navarro.
It's very fucking bad. I didn't vote for this guy but I did root for him, I wanted him to win. I didn't vote for him because his conduct in office was unacceptable. But the Democrats just can't stop running unelectable bitch psychos against him, and so he won because they are so fucking bad at this now. He won in a landslide.
It's very aggravating, what he is doing. Deporting all the illegals isn't worth a completely fucked economy.
If he had just kept his cool, not done this tariffs shit, and continued dabbing on Dems and deporting illegals, he would have been remembered as one of the most consequential presidents ever. Quite possibly a Reagan- like figure. Now he will be remembered for taking a sledgehammer to the world's biggest economy.