During his campaign Trump kept taunted his favorite thing, economic thing, tariffs and now that he is in the seat of power he has made good on his threats.
With the use of the executive order he, Trump, has made it possible for us mere peons to be raped by business…..
Declaring an economic emergency under the law that allows him to take the action, President Trump on Saturday signed an executive order imposing tariffs on China, Canada, and Mexico. Tariffs of 25% on goods from Canada and Mexico and 10% on imports from China are scheduled to take effect on Tuesday, CNBC reports. Energy products from Canada will face a 10% rate, apparently to head off a spike in gas prices. If the nations retaliate, the order stipulates, further action—most likely higher tariffs—will occur.
Trump has endorsed tariffs as a way to force trading partners to negotiate deals more favorable to the US, and Mexican President Claudia Sheinbaum alluded to that strategy Saturday in remarks to supporters. “I don’t feel alone, and you are not alone either,” she said, per the New York Times, adding, “When we negotiate with other nations, we do it always with our heads held high, never looking down.” Canada has drawn up a response that includes taxing Florida orange juice, Tennessee whiskey, and Kentucky peanut butter—all from states that voted Trump in November and have Republican senators.
The tariffs are being imposed under International Emergency Economic Powers Act, and administration officials have blamed fentanyl entering the US from Mexico and Canada that includes ingredients from China. They’ve said the idea also is to pressure Canada and Mexico to take steps against illegal immigration into the US. The nations are the three largest trading partners of the US. At the moment, most goods from Canada and Mexico face no tariffs, while many from China are hit with taxes as high as 25%, per the Washington Post. The new tariffs on China will go on top of those fees.
You mental midgets that think this is a good idea need to look at how tariffs work (use Google if you know how).
Let me help….the country does not pay the tariffs the company getting the product does and it is then passed onto to you at a substantial higher rate….
Even the great god Trump warns you that you will suffer….
President Trump acknowledged that his plan to impose tariffs on Canada, Mexico, and China will likely cause “pain” for Americans but insisted it will be worth it to bring about a “golden age” in America.
The president wrote on Truth Social: “THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!).”
Golden for whom?
Definitely not the consumer and not for his raid low breed supporters.
The fleecing of the public has begun!
On Sunday Trump tried to make his case for annexing Canada….
Trump on Sunday also reiterated his “51st state” rhetoric with regard to Canada, posting, “Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada—AND NO TARIFFS!” It’s not clear just how quickly the tariffs, which take effect just after midnight Tuesday, will hit consumers, but Democratic Sen. Tim Kaine predicted on Sunday that gas prices will go up within days. Republican Sen. Lindsey Graham, however, predicted that once the changes Trump wants made are made, “I think the tariffs probably go away.”
With the world on fire thanx to the US is this the best way to spend your time?
So why is this a good idea?
Please tell us.
I Read, I Write, You Know
“lego ergo scribo”
Tarriffs are attempts to achieve behavior modification of trade “partners” ripping off US . Goal – perhaps offending country buy more US goods, drop price their goods, then tarriff reduction and limited effect American consumer. Any other suggestions not to include bombing offending country ?
How is Canada ripping off the US. The consumer will pay this is for the countr4y in question does not pay the tariff the company bringing in the product pays and then you pay….there is no upside.
Yes, the American consumer will pay tarriff on imports with accompanying elevated prices. Cannot list particulars of Canada complaints. I suppose all Americans will gain or suffer from all international complications. I understand Russia and China fairly immune to US sanctions. Is that true ? Other things in our toolbox ?
They are fairly immune because they are part of the trading bloc known as BRICS…so trading with US is not as pronounced as some would have you believe. chuq
the fleecing of the public has always been government policy regardless of who has been in control… nothing new here…except for the intensity of the fleecing….
Nothing is new with capitalism….it is the same fleecing machine it has always been. chuq
that is true but no longer of concern…the entire country is getting screwed now regardless of the system of finance in place….
Trumponomics at its best. chuq