"In 2024, China was the top supplier of goods to the United States, accounting for 16.5 percent of total goods imports. U.S. goods imports from China totaled $438.9 billion."
lol that would be hilarious to see. If he manages to piss Mexico and Canada too (same numbers), the USA will import nothing in the next few years.
the USA will import nothing in the next few years.
I don't think its going to take very long for tariffs to bite American consumers. A month ago I bought a $1000 technology item that is manufactured in China. I see that same item's price has raised to $1200 in the last week or so. This was an item ordered from online, so its possible they didn't have a large inventory onshore in the USA.
There are bricks and mortar retailers that have weeks or months of inventory warehoused in the USA just as part of their normal supply chain. However without replenishment, popular items will sell out and simply not be stocked again because the tariff affected margins will price out consumers for many of those goods. I'd say if these tariffs stay as they are (or get worse) our retailers are going to have lots of empty shelves in 3 months.
We saw what happened with toilet paper in 2020 and said “wouldn’t it be great if everything could be like this? At least we wouldn’t have a black lady as President!”.
Can you link the item I just wanna see it for myself so I can show idiot trumpers proof
I'm not sure it would help for your proof. It just shows the new higher price now.
He’s already pissed off Mexico and Canada. He’s pissed off most of the world.
It's about to get absolutely stupid. Like I know everyone thinks things are bonkers now, but up until this week vendors I work with, that supply electronic equipment either partially or entirely manufactured in China, were still honoring quotes created weeks ago. This week we're being told that quotes we've had in the works for weeks or months are now likely going to be pulled and not honored, and that was BEFORE this additional increase. We're talking large spend that's likely going to be delayed indefinitely, which will almost certainly shrink the entire GDP and cause mass layoffs, and we'll be in a depression before we know it. I wish I was being hyperbolic, but I'm watching multi million dollar spends planned for the better part of a year evaporate because quotes won't be honored.
Besides Oil, USA doesn't actually need a lot of imports (and I'm not rly sure how much imported oil they actually need if allowing for a slight increase in energy cost). Today the US relies on imports cause it managed to outsource all possible labor-intensive tasks to whom now are now the manufacturers, but getting those industries back to being made locally shouldn't take more than say, 5 years. US just imports these things because they're cheaper to make that way, but has everything except as-cheap labor to make them (including the know-how).
If this maneuver is successful, it would likely be very good for US working class.
This is not a trump endorsement btw. It's just good socioeconomic strategy to bring industry back to national territory.
Edit: To those of you who are downvoting me (i.e. everyone), don't worry. I still love you. <3.
Edit 2: I think this is my all time most downvoted comment of all time! I don't know what to say.... I'd like to thank my autism and lack of rewarding life experiences. Hi, mom! :D
Random Google search:
- the main imports were consumer goods (27 percent), etc. (so, pretty big actually)
- In 2017, imports accounted for 19% of the country's petroleum demand (big too)
getting those industries back to being made locally shouldn’t take more than say, 5 years
You missed a 0 here, I certainly don't expect any country to create millions of jobs in 5 years.
US just imports these things because they’re cheaper to make that way
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.
it would likely be very good for US working class
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 sorry if your portfolio isn't doing well and you're cranky
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.
Pharmaceuticals can be made anywhere
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.
Besides Oil, USA doesn’t actually need a lot of imports
Just to remind you: how many screws and nails are made in USA? How many electronic parts - not the devices themselves, but the itsy bitsy things on the mainboards like resistors and capacitors - are made in USA? How many of the basic chemicals needed to make pharmaceutical and other chemical products are still made in the USA?
The truth is: NEARLY NONE.
This is a the first good argument I've heard from any of you crybabies. OK, you have a point.
This only works if you have a captive semi slave work force that could be paid minimally or not at all.
You mean like every empire in the history of civilization or dare I say every nation state currently recognized by the UN does?
Yes, it does and that's why they're doing it this way.
If this was a targeted tariffs at something we specifically used to be good at, for example cars, and it came with price controls for the internal market, you might have a point.
As it stands a broad global tariff will not shift manufacturing "back" to the US it will simply serve to further monopolize the economy further.
US working class is not going to get any benefit of this assuming that US is able to bring the manufacturing back. The robots are more cost effective than paying US working wage in many cases. They are going to automate the factories.
Now coming to bringing back manufacturing, the carrot approach usually works better. Its possible to move some part of critical infrastructure back. Example is semi conductor chips. What tariffs do is opposite. Tariffs forces countries to move supply chain away from US and eventually moving away from US dollar as reserve. Now normally this would result in a war. The problem is US cant go to a war with China. There are 3 nuclear countries in that region. SEA wont even help US against China. Same goes for India and Russia. Its not afghanistan anymore. US loses its bases in entirety of Asia as a result of this and dollar will be thrown out of the equation.
He doesn't realize that this is a war that can't win, right?
Maybe all China has to do is to threaten to kick out Tesla and give their gigafactory to byd. The real president is going to be really angry with the sockpuppet
I hope China claps back with an even higher percentage. See who folds first: the orange trash bag with a country full of people whining that they can't get their cheap Shein and Teemu slop anymore or the country that trade in mass volumes with the entire world and can probably easily trade anything bound for the US to other countries instead.
They stop being effective. At 50% if there is another supplier they will be cheaper and get picked. If you set it to 100% or 200% it doesn't make much of a difference. Trade just stops between the countries unless there is only a single supplier for what you need.
Well that's what the US has just done so let's see if that happens.
Americans don't just buy Chinese products from Shein and Temu. They buy those products from Walmart, Target, Amazon and essentially every major US retailer.
The US is speedrunning ending their empire on the current trajectory. The world needs to call their bluff to put them in their place.
I fully agree with you but I don't think the orange wankstain is bluffing. I believe that he legitimately thinks he's doing God's work and "making America great again" by completely crashing the entire country.
He doesn’t realize that this is a war that can’t win, right?
He was never smart enough for that.
Let's all unite together as one and put 1000% on America. This is the guy most Americans found best suited to steer the country!
no we didn't. they used anti voter legislation strategically planned over decades to eliminate voters. they are still doing this, just look into the SAVE act which will require people to now have their birth certificate or passport to vote... these if course are not common documents here as you have to pay for both, they can be pricey and time consuming to get.
There’s no way this could go wrong twice, so what the heck, put it all on the green 00.
Trump really doesn't get it does he?
Like powerful people have been assassinated for less
Much less
Bezos has the Jackal on this shit, beliedat.
That doomsday clock is a lot more quiet than I expected it to be.
Hopefully they slap back with and then the EU responds is quick to respond to this recent April tariffs. Slap tariffs on US services
$2B/day huh?
So $7T wiped out of Americans savings will only take 3500 days to pay back. I guess they'll be writing cheques then?
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