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[-] just_another_person@lemmy.world 116 points 7 months ago

It's a certainty, not a fucking "likelihood'. That's how they work.

[-] wagesj45@fedia.io 64 points 7 months ago

You mean there's no chance that Wal-Mart might choose to absorb the increased prices out of the goodness of their hearts? :o

[-] nickwitha_k@lemmy.sdf.org 15 points 7 months ago

Well, the far-right courts made that illegal for publicly-traded companies, so, no.

[-] danc4498@lemmy.world 84 points 7 months ago

But the question is, will American manufacturing make up for the costs? Or, will American manufacturing just raise their prices to match the tariffs and lump the profits into their executive bonuses. They deserve it after all for being smart enough to raise prices.

[-] ansiz@lemmy.world 45 points 7 months ago

American manufacturing CAN'T, it would take years, decades honestly, to get back the capacity to make all the crap we've outsourced to other countries.

[-] Milk_Sheikh@lemm.ee 46 points 7 months ago

And this is the absolute brain rot fantasy of tariffs that I keep explaining to these idiots, and keep getting blank stares or awkward silences.

Tariffs are 100% punitive, without a domestic/alternative sourcing strategy. They can work long term to reduce a foreign nation's competitive advantage in an industry while allowing a domestic industry space to exist, but that only works if there’s a domestic industry that already exists (at enough scale to meet demand) or a long term government program to nurture and build those industries - education/vocation training, regulatory concerns, infrastructure development, raw materials availability, etc

Tariffs Chinese steel/electronics/machine tools/etc into oblivion? Either buy the imported at a high price, or buy the domestic at a slightly less high price - but the cost is always carried by the consumer no matter what.

[-] bradinutah@thelemmy.club 17 points 7 months ago

And then there's the ensuing trade war that always happens, with the countries retaliating with their own tariffs to the US. Tariffs are a lose-lose scenario, just like they were in 2019.

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[-] coriza@lemmy.world 33 points 7 months ago* (last edited 7 months ago)

If some other countries are any indication, not only will they raise the prices but they will raise it way more than the tariffs and just blame on tariffs and with time people will just think that is the way it is. "X cost 3 times as other countries? That is because the tariffs" no mind that the tariffs is like 50% and not 300%. Like they already do with gas prices. Gas go up immediately when oil prices rise but only goes down, if ever, for new stock.

[-] dgmib@lemmy.world 22 points 7 months ago

During his first term Trump put a tariffs on Washing Machines. The price of imported washing machines went up. The price of domestically manufactured washing machines was also raised. Even the price of dryers — which didn’t have a tariff — went up on both imported and domestically manufactured appliances.

I have yet to see an economist that thinks Trumps tariff plans will benefit the working class.

[-] hydrospanner@lemmy.world 19 points 7 months ago

That is exactly what US steel did in response to the steel tariffs back in Trump round one.

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[-] jordanlund@lemmy.world 83 points 7 months ago

Pretty sure everyone was told this before the election.

Problem:

https://www.usatoday.com/story/news/education/2024/11/12/trump-election-win-college-educated-voters/76109508007/

"Harris outperformed Biden’s 2020 numbers among white voters with college degrees. Meanwhile, exit polling from NBC News gave Republicans a 9-point gain with voters who never attended college."

[-] deadbeef79000@lemmy.nz 45 points 7 months ago

Thing is, basic economics is a high school subject, except:

"Sir, when am I going to have to know how tariffs work in the real world?"

[-] tigeruppercut@lemmy.zip 29 points 7 months ago

You had econ in HS? Mine had it but it was only an elective.

[-] EldritchFeminity 25 points 7 months ago

I don't think mine even had it as an elective. We were too busy spending 2 years of history classes learning how nice the Pilgrims were to the natives. And this was in Massachusetts, which I believe ranks #1 in education in the US.

[-] billiam0202@lemmy.world 18 points 7 months ago

#1 in education.

And also the only state in the country where every precinct voted for Harris.

Surely that must be a coincidence, right?

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[-] adarza@lemmy.ca 27 points 7 months ago

'I love the poorly educated', donald j trump, feb 2016.

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[-] brucethemoose@lemmy.world 64 points 7 months ago* (last edited 7 months ago)

It doesn't even matter:

https://www.axios.com/2024/11/18/consumer-confidence-trump-republicans-white-house

Turns out, a lot of consumer mood is literally just people's social media feeds. Even if prices go up and QoL goes down, on average, consumers might feel better simply because Trump being in office makes them feel good.

I am not going to point out how monumentally problematic this is... Nope. There's definitely no bad precedent for that.

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[-] adarza@lemmy.ca 63 points 7 months ago

just like mexico paid for his 'wall'

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[-] A_Random_Idiot@lemmy.world 58 points 7 months ago* (last edited 7 months ago)

100% guarantee price raises across the board, even for stuff not affected by tarrifs/mass deportation labor shortages.

It'll be covid all over again, an excuse to price gouge the fuck out of those who can least afford it.

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[-] randon31415@lemmy.world 48 points 7 months ago

There are two bright sides to this (and dark sides as well):

-This will decrease demand of Chinese goods in the U.S., hurting a country that is ... problematic to say the least. (Anyone remember the Uyghurs? The O.G. Gazens?) It probably won't shift demand back to the U.S. factories, but maybe it is time for another country to become the slave-labor-ish manufacturing capital of the world.

-When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed. I just hope this wasn't the plan all along and those "fake" inflation hikes back after covid weren't to cover for the real ones down the road.

[-] affiliate@lemmy.world 75 points 7 months ago

When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed.

i really hope you’re right, but i think that will most likely get blamed on biden “ruining the economy” in his last term, or something in that vein. a lot of trump voters get their news from fox news or directly from donald trump, and i can’t imagine either of those sources criticizing trumps economic policies.

[-] pivot_root@lemmy.world 14 points 7 months ago

Funny that we both posted the same concern at the same time.

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[-] rayyy@lemmy.world 64 points 7 months ago

Trump will get blamed

Ha, ha, ha, he will blame Biden, or immigrants, and his moron supporters will believe him just like they have when he lied the other thousands of times.

[-] prole 42 points 7 months ago

Trump will get blamed

Oh honey...

[-] pivot_root@lemmy.world 39 points 7 months ago* (last edited 7 months ago)

When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed.

In all likelihood, only a small percentage of his voters will actually blame him for the predictable consequences of his tariffs. The rest of them will believe Trump when he blames it on Biden's economic policies that were put in place before Trump's second term. Our egos have a funny way of making us do mental gymnastics to avoid having to accept the idea of oneself being wrong.

[-] brucethemoose@lemmy.world 19 points 7 months ago* (last edited 7 months ago)

Trump will get blamed

Like they blamed him for his COVID-19 response?

If that didn't get through... honestly, I have no idea what would. Americans are just stuck in their feeds and divorced from reality now.

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[-] rayyy@lemmy.world 39 points 7 months ago

Everything he will do contributes to anger, division and the collapse of the United States.

[-] NeoToasty@kbin.melroy.org 20 points 7 months ago

People will be angry but angry at the wrong people. No, let's not be angry at the guy for actively destroying everyone's lives. Let's be angry at blacks. Or gay people. Or transgenders. Or police. Or scientists.

Fucking dumb Americans.

[-] aesthelete@lemmy.world 37 points 7 months ago

China will pay for the tariffs in the same way Mexico paid for the wall.

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[-] HawlSera@lemm.ee 31 points 7 months ago

I feel like no one bothered to campaign against Trump.... until... AFTER he won

[-] Suavevillain@lemmy.world 28 points 7 months ago

The I voted for him for cheaper eggs crowd are about to call this fake news.

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[-] hydrashok@sh.itjust.works 26 points 7 months ago

Duuuh. Did they really think the company would just eat the additional costs? What a bunch of maroons.

[-] baronvonj@lemmy.world 25 points 7 months ago

They thought the exporting country/company would pay for it.

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[-] inclementimmigrant@lemmy.world 22 points 7 months ago

Yeah, I mean I knew that, you knew that, Americans are so uneducated that the majority had no idea how basic economics work.

Well FAFO, we're all going to learn the hard way I guess.

[-] IzzyJ@lemmy.world 14 points 7 months ago* (last edited 7 months ago)

And fuck those of us who already knew the lesson. Its like school but without getting to go home at the end of the day. And just like school, the kids who need it probably wont pay attention

[-] Blackout@fedia.io 22 points 7 months ago

I have a trick to get others to pay it for me:

trix

[-] GhiLA@sh.itjust.works 21 points 7 months ago

buys that external drive I've been putting off for a while

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[-] ikidd@lemmy.world 20 points 7 months ago

Oh, I thought he was fixing inflation!

Wow, what a shocker! Who could have predicted how that turned out?

[-] suzune@ani.social 20 points 7 months ago

The good thing about Trump is that other countries will try to get more independent from the US.

[-] yarr@feddit.nl 18 points 7 months ago

Folks, listen closely, okay? Nobody understands tariffs better than me. Believe me, they’re tremendous, tremendous tariffs. And now Walmart – yes, Walmart, great company, big stores, huge – they’re telling you that YOU, the great American people, will be paying for these tariffs. And you know what? That’s fantastic news. Incredible. Let me tell you why.

First, it’s about sacrifice. The greatest country in the world doesn’t rise without its amazing, hardworking patriots chipping in a little bit more. And trust me, when you pay a little extra at Walmart for your cheap, uh, Made-in-China toasters, you’re not just buying a toaster. You’re buying FREEDOM, folks. You’re sticking it to the Chinese economy. No one else could get that deal done, okay? Only me.

Second, we’re BUILDING here, okay? When American families dig a little deeper into their pockets, that’s money going back into our economy. It’s like… MAGA economics, so smart you wouldn’t believe it. All of a sudden, Americans will say, "Hey, why am I buying Chinese stuff? Let’s buy American!" And BOOM – jobs. Factories humming. Steel, coal, maybe even wood, I don’t know. Beautiful stuff.

Third, let’s talk winning. When we pay these tariffs – our tariffs – we’re showing the world who’s boss. China thinks they’re so smart. So clever. Well, joke’s on them. We’re so good at tariffs, we’re making YOU pay them instead of them. Genius move, right? They won’t even know what hit them. Tremendous strategy. They’re probably shaking in Beijing.

And look, folks, I hear you. “But sir, sir, what about the prices?” And I say this: are you willing to pay a little more at Walmart to make America the GREATEST it’s ever been? I think you are. And if you’re not, then maybe you like China too much. Sad!

So remember, every time you spend a little extra at Walmart – and it’s a GREAT store, by the way, I love it, fantastic – just think of it as making a donation to America. To freedom. To ME – your favorite president – who is bringing the best tariffs, the best deals, and the best America you’ve ever seen.

God bless tariffs. God bless Walmart. And God bless the United States of America. MAGA!

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[-] Sixtyforce@sh.itjust.works 18 points 7 months ago

Nobody here is surprised.

[-] zaft@lemmy.world 17 points 7 months ago

It's crazy how so many GOP supporters didn't know this...

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[-] jaggedrobotpubes@lemmy.world 16 points 7 months ago

Trump almost has it. If he can just be a slightly bigger ass on a slightly bigger stage, then he'll be happy.

Musn't give up too soon.

[-] nutsack@lemmy.world 16 points 7 months ago

thanks Walmart this is really good timing

[-] ThePerfectLink@lemmy.world 15 points 7 months ago

Realistically though, that's how tariffs just work. With products costing more, theoretically that should drive demand down and eventually lead to fewer imports. Of course, if there's still no competing product or the product is a basic necessity, then it'll likely just result in people paying more.

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this post was submitted on 23 Nov 2024
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