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US to implement 104% tariff on China as Trump-imposed deadline passes
(www.theguardian.com)
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this post was submitted on 08 Apr 2025
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You missed a 0 here, I certainly don't expect any country to create millions of jobs in 5 years.
People buy because it's cheaper. And we import because we can't make them. But even if we could (which we can't), their prices would triple while you wait for people to be trained and factories to be built.
Doubling or tripling the prices will be very bad for all the classes except millionaires.
One last quote: "Donald Trump's Atlantic City casinos have undergone four bankruptcies." He has no strategy, he's officially a fucking idiot. Even I without any knowledge wouldn't be able to fuck up a casino that bad.
Well someone didn't really care to understand what I was actually saying OR do their homework very well.
Please tell me which of these imports (sauce: wiki) cannot be substituted in the short term and is of critical importance. There's pharmaceutical and there's medical and they don't represent a very large chunk of imports. Pharmaceuticals can be made anywhere (they just follow the lowest taxes) and medical equipment... guess who was the world's largest exporter of this? The USA (see table in page 210).
Yes, consumer goods are a big import but they can be substituted to a great degree in the short term and relocated to be manufactured nationally within the mid term. That was kinda what I said, you know, before.
No, I did not miss a zero, thank you. Unskilled labor needs a few months of on boarding at most and the capital moves freely to where the money is to be made. Yes, factories take some years to build but while there's money to be made, they'll be built very fast. The most profitable ones, anyway.
You can make those goods! I believe in you! cheers
How do you think those foreign companies started making them? Who do you think they copied?
It's all stolen US/EU IP and probably a big chunk of the first movers of tech stuff are partially US-owned. All their specifications and that of the machinery that makes them were likely created in the USA or EU. This is easy to understand and see if you look at the auto industry. Anyone can make low skill labor intensive stuff... The difficulty is by definition not in the manufacturing process... The problem is it's usually only convenient for everyone for the country with the cheapest labor to make the stuff cause cheaper. The machinery and facilities required to make these things were likely also designed in the west 90% of the time.
Doubling and tripling prices in exchange for having a living wage for someone who currently has a $0 income is actually a really good deal.
I'm not saying he's not an idiot or that he's capable of empathy. This isn't about that. This is just a good move on its own. Had to be done. Sry. You guys were walking straight to an abyss out of fear of people ~~like you~~ overreacting, like you are now.
Oh and I'm sorry if your portfolio isn't doing well and you're cranky. You'll be back in the greens in no time.
Have a nice week, friend.
edit: I realize saying "people like you overreacting" was unfair. I apologize.
I'm not American and don't have a portfolio. I'm just here for the lulz. The greatest country ever since the 70s managed to vote for the most stupid guy ever for absolutely no valid reason, and will destroy what they created in the process.
Well, hope you're enjoying the schadenfreude. Have a good one.
Oh, we do. The popcorn is great.
Good luck with that. Like with all basic industrial ingredients that the US imports because they are cheaper elsewhere, you have long lost all the machinery, the sites, and the skills you need for producing them at home.
Well good news is it doesn't matter that much cause they're already overcharging their people for medication 10000x
I see you're editing your comment and included something about oil. The decision of petroleum being either extracted or imported is based on local extraction costs vs import prices. This is why I mentioned "allowing for slight energy cost increase". You could very well be importing 100% of your oil and just not extracting your own because slightly more expensive... And once again, this would be giving away labor to the world at the cost of US workers so companies that relied heavily on energy got better profit margins (i.e. mining, logistics, etc)
I don't make the rules. This is just how it works.