President Donald Trump on Friday floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting among top U.S. and Chinese trade officials as he looks to deescalate the trade war.
This must what winning looks like.
He has to or he is gonna completely destroy every American corporation and have mass unemployment.
The damage is done, we will be in Depression 2.0 by midsummer
Supply chain is already broken, it will take months to rebuild if they ended the tariff bullshit RIGHT NOW
But as slow as this is moving, we’re going to see massive layoffs in shipping infrastructure and that will take YEARS to rebuild
That and xi and Putin were in a love nest this morning and posted all the pics. It was very much a rub in trump’s face.
What an obnoxious whiny little bitch… goes and starts a trade war for no reason, and then loses.
Not for no reason, because he somehow thought it would generate enough profit to cut taxes on the rich
Literally no one in his administration understands macroeconomics
i hated him before he basically ruined my life
and to 40% of the country that makes you mentally ill
not my biggest problem right now
Shun anyone who voted for this for life
I’ll forgive people who voted the first time, I avoid people who voted for him the second time, and I have to constantly restrain myself from being violent on people who voted for him a third time.
My congratulations to Trade for winning the trade war.
The trade war HE. BUILT.
Not even a trade war it’s one man thinking he has more leverage than he does and looking like an idiot.
Any tariff over 100% stalls trade completely. He’s probably feeling pressure over that.
Sounds like he’s negotiating with himself in the corner while China laughs at this point.
Some industries are saying they are completely unviable around 40-60%. See the recent Gamers Nexus video about the computer hardware industry.
Some companies can survive 10-30% by cutting margins and passing to the consumer, but there are entire classes of product where demand will just evaporate if you raise prices 20-30%, especially budget and value products.
It’s impossible to reshore manufacturing to stop this too. Every single economist is saying that there is a 0% chance that the way Trump has weaponized tariffs will cause any meaningful production in the US. The only outcome from this is empty shelves and stagflation.
The only outcome from this is empty shelves and stagflation.
Wrong, there’s also prices dropping for us(no caps) Europeans
That’s not exactly true, as a lot of companies are increasing prices in other regions to offset their profit dips and/or retain some market share in the US. This trade war sucks for absolutely everyone and it is sickening that a single looney idiot can achieve so much damage.
The only way this could hypothetically accomplish reshoring is if it was heavily government subsidized which has not been the stated intention. Trump wants to keep tariff revenue to enrich himself and his cronies.
No one is investing millions to reshore when Trump changes his mind on tariffs every few days.
Trump even reversed the domestic industrial subsidies that Biden signed in so double dumbass for that one
So, was this always just the best possible narrative spin for Trump to do some open market manipulation and make him and his peers even richer or is Trump stupid enough to believe the nonsense he was fed and regurgitated to his followers?
Both. He knows it made him richer and he’s enough of an egomaniac to believe it does what he says it would do just because he said it. Now he’s richer and he’ll believe this was his plan all along because a narcissist is never wrong to themselves, hes already been blaming Biden about any negative economic news.
Art of the deal: make concessions before negotiations.
Those are preconcessions, a little known tactic. It’s followed by the negotiation crumble and post negotiation victory lap.
I wondered when he’d back down, and what excuse he’d give to his followers.
whatever excuse they will eat it up and parrot it like it is the most profound economic truth, and then complain about Biden when we hit Depression 2.0 in August
He can pussy out all he wants - the damage is already done.
I don’t think he committed enough damage. Public opinion has not shifted enough.
Some damage is already done. A lot. But flip flopping again and backing down would make it less bad.
How’s that trade war going for ya, Donny?
They’re easy to win. All you do is, whatever happens, say you won.
Note: this technique works best if your supporters are fucking idiots
Thought this was posted on /lepardseatmyface for a sec.
Shut the fuck up, Donny.
In a just world, someone would yell that at him every time he spoke from now until he dies
Does it matter? Trade is nearly stalled anyway.
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