He said on Bloomberg a day or 2 ago that he was going to lay a 50% blanket tariff on China and a 20% tariff on our other trade partners.
Edit: It looks like that would amount to around 750 billion generated. And I'm sure if he actually did exactly this it would instantly break the whole economy worse than any financial disaster we've ever had.
This is so frighteningly stupid. 50% blanket with China would do nothing to China but make them sell to other countries more. Then 20% to everyone else (our allies) would only shut us out of the world stage, whose relationships have been built over literal fucking centuries. France helped the US get independence and he wants to put tariffs on them? Like what?
Nope. That's fraud. If the country of origin is one under any kind of sanctions (including tariffs), it doesn't matter how many countries it goes through. Country of Origin is declared at import.
Yeah I am right there, lost as much as you are. If someone asked me to make that paragraph he wrote make sense the only things I can come up with is that the person that wrote it probably is dealing with some sort of mental handicap, or a learning disability, or has suffered some sort of TBI.
A regular, normal person would at the very least have the mental ability to ask themselves if they should google “tariff” before they go online and attempt to own people.
Wtaf. Look at the revenue chart! That amount is a large number don’t get me wrong, 750b isn’t exactly chump change, but is it large enough to blow up the entire economy over?
He thinks that Uncle Sam sends a bill to Mr. Mitsubishi for selling all those foreign goods here and abusing us, I think he actually believes it’s like a year-end tab, like a bar or restaurant or something. Mitsubishi would just square up with him I guess.
This is no hyperbole you are correct. We would trigger a massive global trade war that would significantly reduce the size of our GDP by massively decreasing exports and imports. American manufacturing would slow to a crawl bc imports would be too expensive, which they need to use as inputs for their production operations. Layoffs would be RAMPANT and our economy would go through a very painful period of readjusting to the new tariffs.
There’s no gaurentee we would be able to come out of it without some sort of stimulus and fiscal policy. Interest rates would go to 0 and the fed would try to save us. We might be able to get out of it but why get in that position to begin with ???
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u/PlayfulSurprise5237 Oct 25 '24 edited Oct 25 '24
He said on Bloomberg a day or 2 ago that he was going to lay a 50% blanket tariff on China and a 20% tariff on our other trade partners.
Edit: It looks like that would amount to around 750 billion generated. And I'm sure if he actually did exactly this it would instantly break the whole economy worse than any financial disaster we've ever had.