196
submitted 2 weeks ago by MicroWave@lemmy.world to c/news@lemmy.world

Summary

Donald Trump announced that the U.S. will impose 25% tariffs on all steel and aluminum imports starting Monday, including from Canada and Mexico.

He also plans “reciprocal tariffs” on goods from countries imposing duties on U.S. products.

Markets reacted negatively, with stocks dropping over tariff concerns.

Trump previously paused tariffs on Canada and Mexico but imposed 10% duties on China.

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[-] TommySoda@lemmy.world 94 points 2 weeks ago

is that how you bring manufacturing back to the US? By making all the materials way more expensive?

[-] AreaKode@lemmy.world 38 points 2 weeks ago

Yep. When you're stuck paying more for the foreign metals, it forces the US suppliers to charge less. Right? 'Murica?

[-] jmcs@discuss.tchncs.de 39 points 2 weeks ago

How many hours until he cancels these ones too?

[-] skuzz@discuss.tchncs.de 28 points 2 weeks ago

What better way to run a money pump? Literally. It is what they are doing. You know when to buy, sell, short, or hedge.

[-] FlyingSquid@lemmy.world 11 points 2 weeks ago

Just long enough for him to get his knee pads to beg to Claudia Sheinbaum again.

[-] straightjorkin@lemmy.world 8 points 2 weeks ago

Gonna be another masterful gambit

[-] jmcs@discuss.tchncs.de 12 points 2 weeks ago

Aluminum is going to change its atomic symbol to Al and the UK - great country, very bad prime minister - is going to name their aluminum "aluminium" to distinguish it from the great high-IQ American metal. I'm suspending the tariffs for 2 years and one and two half days. I'm a biggly stable genius.

  • Donald Trump, February 11 2025
[-] Honeybee@sh.itjust.works 3 points 2 weeks ago* (last edited 2 weeks ago)

The worst part about this, for the first three sentences I couldnt if it was serious. Then I suspected it may be satire, but I cant tell 100 percent certain

[-] jmcs@discuss.tchncs.de 3 points 2 weeks ago* (last edited 2 weeks ago)

The main clue is that in reality Trump has no clue about what an atomic symbol is.

[-] catloaf@lemm.ee 35 points 2 weeks ago

Do you think he announces these on weekends to soften the market drop?

[-] Erasmus@lemmy.world 33 points 2 weeks ago

Yup this is just him playing the market or at least him scheming with his rich buddies.

Same with making these stupid comments about Canada as a 51st state. No one in Canada wants to become an American or vice versa. Nothing against Canada. He is just keeps shit like this in the headlines as a distraction while his idiot minions screw up/tear down the government.

[-] DemBoSain@midwest.social 22 points 2 weeks ago

vice versa.

Imma stop you right there...

[-] Erasmus@lemmy.world 10 points 2 weeks ago

Ha ha, good point.

[-] RunningInRVA@lemmy.world 7 points 2 weeks ago

I feel like he did that to us last time. So probably.

[-] mesamunefire@lemmy.world 11 points 2 weeks ago

Then he doesn't do it. Pump and dump. Repeat.

[-] HellsBelle@sh.itjust.works 16 points 2 weeks ago* (last edited 2 weeks ago)

A week ago, during the tariff on/tariff off bs, it was announced that:

The cost of aluminum for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said.

Here's hoping that stands.

https://globalnews.ca/news/10995839/canafa-aluminum-europe-trump-tariffs/

[-] someguy3@lemmy.world 9 points 2 weeks ago* (last edited 2 weeks ago)

Trade threats 2, electric aluminoo.

[-] tiredofsametab@fedia.io 2 points 2 weeks ago

electric alumilieu?

[-] affiliate@lemmy.world 9 points 2 weeks ago

Trump says he will announce 25% steel and aluminum tariffs Monday

it sounds to me like he announced them today

I'm torn about this. On the one side, i support (a low level of) import tariffs in general, but on the other hand, the only reasonable exception i see to this is in minerals, because they are non-uniformously geographically distributed, and sometimes can only be sourced from abroad.

Then again, steel and aluminum are made from minerals which are so incredibly wide-spread, that it probably makes no difference to implement tariffs on them, because they can be sourced from every country, including your own.

[-] Evotech@lemmy.world 5 points 2 weeks ago* (last edited 2 weeks ago)

Protectionism tends to sound good in theory. But in the end it doesn't turn out that way

I would be a bit more careful about only listening to previous empirical data. Not everything can be extrapolated from the past.

There is the story of the cock:

A rooster wakes up every morning and crows, for a 1000 days in a row. The rooster observes this and, as a consequence, believes himself to be invincible. "Until now, i have always waken up the next day in the morning."

But the rooster, is not invincible, neither is he immortal. In fact, quite the opposite.

Also, this XKCD:

[-] Evotech@lemmy.world 2 points 2 weeks ago

O mean trump did the same thing in his last term. Well see

this post was submitted on 10 Feb 2025
196 points (100.0% liked)

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