Art of the deal!
Art of the deal!
Art of the deal!
Dont forget you're also paying 50% for your aluminium in the US because youre tariffing Canada on it, and you get almost all of it from Canada.
So that 25% car parts is compounded by the +50% on that.
Trump is such a goddamm fucking idiot. He was given the world, and he gave back far, far, far less than nothing.
A silver spoon in trade for a dumpster fire of his own creation.
A kingdom in exchange for rot, disease, and chaos.
A curse upon this creature. May he writhe as he dies within his final resting place. May the reaper give no mercy on this plague that has been given to humanity.
May he damn those that helped this disease upon the earth. May they all die within the fires of their creation.
Rise up. Stand tall. We, the people, have demanded more from our leaders. Long Live the kind, gentle, and generous. We shall inherit the Earth.
Trump was born on third base and claims he scored a touchdown.
Actually you won’t have to pay a 15% tariff. Americans will. And you can still sell into any other market with a trade agreement.
Isn't it wild how so many Americans do not understand how tariffs work?
Well if they make and sell within the EU it would be even easier.
Its wild, Biden was like "I'm saving the world" and then slapped tariffs on cheap EVs rather than match subsidies, ensuring the survival of gas cars and destruction of the planet, for the benefit of American manufacturing.
Trump is like "I'm saving America" and just fucking over everyone.
Trump might contribute more to saving the world by downsizing the US economy in the end.
Not that he would do so intentionally.
Subsidies would have been great, but the practice appears to be much different. The tariffs you are talking about stemmed from a US trade representative investigation request that was initiated in 2018. As part of the 1974 Trade Act (section 301) retaliation measures are are allowed by the executive branch and comically tariffs are never mentioned as a retaliatory measure by name until 2018 really. For example tariffs are mentioned 24 times in the Congress.gov section 301 overview. https://www.congress.gov/crs-product/IF11346
Tariffs were never mentioned in 301 prior to that. https://usinfo.org/law/majorlaws/301.htm
Using section 301 in the format we have it now in my interpretation is that "retaliatory" measures can be taken globally or against an individual country as per the reviewed and debated investigations findings... But subsidies aren't a form of retaliation, and therefore would fall outside section 301 and require legislative approval. Which is what Biden should have faught. If he could have substantiated an argument that subsidies are a form of retaliation, maybe he could have performed them without congressional approval. It's a hard maybe though.
He should have had the executive branch conclude no retaliatory action was necessary as tariffs would have potentially caused further damage to the U.S. economy and trade. Thereby ending the USTRs investigation/fundings as something that shouldn't be addressed by the executive branch and forced the legislative branch to address it by encouraging such subsidies. They probably weren't going to go anywhere do to Congress being split but it may have helped stifle tarrifs being a standardized retaliatory act in our current era of trade agreements.
"It's not a tax! Countries will just eat the tariffs!"
-- maga business graduates not knowing "margins"
It's not a dick, it's a mouth based video game
He’s collecting bribes from foreign companies and countries. And some domestic companies.
That’s it. There’s no 5d chess here.
The other bit is that Peter Navarro hates Canada.
An extra bonus for him is when foreign leaders brownnose him on camera, that tickles his pathological narcissism. But yeah, the grifting is his main purpose by far.
The pitch is "go broke, because the rules are changing week by week and choosing either could mean losing massive amounts of money. You may be better off quitting while you are ahead."
"Go broke so my corporate raider friends can buy up GM and sell it for parts", because all the corporate raiders forgot that you actually have to have someone who WANTS the product you're selling. Toyota or whoever isn't going to want GM's manufacturing arm in America because of those tariffs.
Toyota will want the real estate and factories, at least. One thing we're still good at in the US is paving over former EPA superfund sites and protected wetlands and cheaply erecting huge, inadequately-ventilated industrial buildings.
Being President finally showed us that he was lying about being a "deal artist" all this time.
No, I think anyone who was paying him any mind knew. It's just his biggest claim to fame before his presidency was a mediocre TV personality.
He failed to sell steaks and casinos(yes multiple casinos) to Americans.
You know what Americans fucking love? Steak and the distant chance of becoming rich through no effort.
You know how badly you’d have to mismanage a casino to cause it to go bankrupt? It’s a building where people willing go to get blind drunk and give you money. If you owned a money printer, I don’t know if you could make as much money as a casino can per day.
He’s been a moron for decades. He just used Daddies money to buy his way into pop culture. He’s Paris Hilton but replace the tits and drug use with being a sad loser who couldn’t sell shit to a fly.
Maybe he just want American car manufacturers to make 50% smaller cars instead of the huge trucks? America could be a world leader of smart cars
Hahahaha sure. You're so smart. This has all been a secret master plan by Trump to manipulate US car manufacturers, Soviet-style, into capturing the lucrative, highly-desired Smart Car market, which was discotinued in the US in 2019 due to poor sales! Hahahaha
The Art Of The Really Stupid Deal by Paul Krugman.
This is just great 👏
Just what we were expecting but even stupider.
The tariff on Steel in USA is very very old (1800s). It was to protect their own production, which would plummet if the tariff was not existed. I think after WW2 remained very low (5%), only to reappear temporarily in 2000s and permanently with the 1st Trump presidency, which Biden kept and now Trump has doubled.
Ofc the reappear of tariffs on Steel made the Steel prices get higher (huge spikes after new tariffs and higher average price in the long term) and all the products made of it. So prepare for American cars price hike.
We're fucking workers
Workers of the world, unite!
One for $2, Two for $5, very good deal
The secret behind this jenus deal is that he isn't in prison for fraud
Canada applied reciprocal tariffs on American made cars that boosted the cost of a Tesla Model Y by about $20K, so Musk turned to Tesla's German production and imported the cars from there instead, and dropped the price back down to what it was.
Steel is extremely cheap compared to the car.
A metric ton of hrc steel costs like $800 - that's $400 added value to the end product.
A car costs like $30k. 15% is like $4.5k of the added value. The argument doesn't stand
What's really the problem is that the supply chain might cross the border a few times. That's what was the intent for the tarifs.
Stop thinking about the orange clown's government as the dumb villains from done kind of comedy. They are our political opponents
The two aren't mutually exclusive.
It’s still a losing proposition, even if you don’t already have a factory in [insert country]. Steel is cheap yes, the value add comes from labor and capex payback yes, but there’s more than just metal that makes a car go vroom .
25% tariff on car parts
Ca parts could be anything from plastic fan ducting or the infotainment screen, or major components like engines and drivetrains. The majority of which is plastics/polymers and aluminum. The engine has steel sure, but the aluminum block is the most expensive part, while steel con-rods, crankshafts, and gears aren’t exactly an easy thing to set up a new factory in order to duck tariffs - tariffs that have been proven to come and go over social media beef.
So while it’s impossible to truly know the full BoM cost without seeing each component category’s HTS codes and how each maker sources their parts, I’d still wager that the 15% is the better pathway. Especially if you already have a factory, a known and trained labor pool, established transit and vendor links, etc
What it’ll definitely have more impact upon is expensive or luxury brands, because the material cost doesn’t scale with the sticker price the consumer sees.
You saying Ford is paying $800 per ton for the formed steel they use in their vehicles?
Idk how much they pay. The price is significantly lower than the price of the car by 2 orders of magnitude
Well the F150 is an aluminum frame so that's 50% tariffs from Canada. Not sure about the rest
Donald Trump is a Russian asset and our intelligence agencies have been telling us this since 2015
Was one, but his cooperation with Russia has always been on the basis of Trump's narcissistic mental weakness and Russia's been hurting his feelings lately.
Tulsi Gabbard though...