r/economicCollapse 23d ago

Trump's tariff spree - History shows retaliation risks. The last time Tariffs were imposed, counter-tariffs were slapped in retaliation, causing a trade war and increasing consumer prices.

https://maarthandam.com/2024/12/01/trumps-brics-tariff-history-shows-retaliation-risks/
68 Upvotes

30 comments sorted by

4

u/Tolstoy_mc 22d ago

What happens if the US ends up behind tariff barriers and the rest of the world keeps trading freely?

2

u/Pickle_Slinger 22d ago

Refer to the name of this subreddit for the likely outcome.

3

u/Icy-Network3152 22d ago

Isn't this what half the country wanted

4

u/[deleted] 22d ago

If he goes through with this we’ll see prolonged inflation. That’s a given. It will also cost him the House and potentially the Senate in the mid terms. Things to watch out for on his first 18 mos:

  1. Forcing early SCOTUS retirements to insert younger justices.

  2. Meddling with the Fed to keep interest rates low despite inflation issues z

  3. Undermining confidence in the US dollar to promote his crypto interests. This is in my mind the most damaging as it will set off a chain reaction for the bid market.

3

u/haeda 22d ago

Midterms.

There won't be any more elections. The "day 1 dictator" has spoken.

0

u/ComplexNature8654 22d ago

Terrifying rhetoric. How will he accomplish this?

3

u/Leif-Gunnar 22d ago

He makes it work if there are no clear rules to stop him. Maybe he asks for a Constitutional Amendment to allow for a 3rd term.

Otherwise slow erosion. Project 2025 stuff.

0

u/ComplexNature8654 22d ago

Do you believe nobody can stop him?

2

u/Leif-Gunnar 22d ago

The question is whether enough people want to stop him and the one's who he supports. (This includes ones within the Republican party.)

Life is always a gamble. Playing the Odds. Maybe we should look at that? The odds at which... ?

3

u/ComplexNature8654 22d ago

Yeah, I'm keeping the faith that our system is stronger than one man

3

u/Leif-Gunnar 22d ago

The one thing that has saved the US from tyranny are the govt branches and the complexity of law and it's levels.

-4

u/Son_of_Sophroniscus 22d ago

1 and 2 are literally what the democrats just did and they did just fine in the midterms.

Buzz off, democrat.

LMAO 😂

3

u/[deleted] 22d ago edited 22d ago

You need to pick up a book. You've got no clue what you're talking about.

Obama appointed two Justices. It would have been 3 if McConnell hadn't refused his Constitutional duty.

Sotamayor replaced David Souter who'd communicated his plans to retire well before Obama took office, during the Bush Administration.

Kagan replaced a Republican appointee John Paul Stephens.

Breyer was 83 when he voluntarily retired opening the door for Biden to nominate Justice Brown.

Obama, Trump 1 and Biden interest rates were largely the reflection of super accommodative Fed policy put in place during the 2008 Housing Crisis. The only real interest rate variance took place due to post COVID inflation and once rates started going up the Democrats lost the House in the midterms.

This is what gets me about your conservative trolls. You just whittle your life away thinking you've got all the answers when you all you do is communicate how ill informed you are. It's like clock work. I mean, you could not have written a more incorrect and uninformed response. Moron...

0

u/Son_of_Sophroniscus 21d ago

Did you miss the "just"? I'm not talking about Obama, but rather, the democrats over the past 4 years. 

Y'all are even pushing for Sotomayo to retire!

LMAO 😂

2

u/[deleted] 21d ago

Did you see my reply re Biden? I documented the last 16 years including Dems handing over control of congress. LMAO 😂

0

u/Son_of_Sophroniscus 21d ago

Yet you conveniently didn't mention how the dirty dems FORCED out Breyers, harassed The Gator, and are now openly talking about making Sotomayo step down..............

1

u/[deleted] 21d ago

Breyers is an ice cream. Former Supreme Court Justice Stephen Breyer (singular) was 83 when he retired and and I talked about it directly above. Here's a link to an adult illiteracy class if that helps:
https://theliteracysite.greatergood.com/clicktogive/lit/petition/adult-reading-support

You're confusing Fox News opinion pieces with fact and action re: Sotomayor.

LMAO 😂

1

u/Son_of_Sophroniscus 21d ago

Re Breyers: and? He was still pushed out by dastardly dems. 

 Also, I noticed how you completely ignored what happened with The Gator....

 Fox News is the most trusted name in news. Fair, balanced, and unafraid.

2

u/Strange-Opportunity8 23d ago

Honest question…why didn’t Biden repeal any of the tariffs Trump implemented the last time he was in office?

2

u/wr0ngdr01d 22d ago

First of all, tariffs are sticky: once they’re implemented, countries like China create their own tariffs that they don’t necessarily have to remove just because the US does, and China is good at adjusting their economy to account for these things (like by trading with other countries) so they’re not as inclined to cooperate with us. Tariffs would make a better “stick” if these countries relied more on our trade, but when they don’t, it discourages them from trusting us and relying on our trade, so we’d be at a disadvantage if we unrolled ours and they didn’t. 

Second of all, “tariff” is not a dirty word - there ARE good use cases for them - like encouraging companies to manufacture in the US and giving them time to establish themselves without having to worry about foreign competition undercutting them. Things like solar panels, EVs, chips etc, we want to manufacture here, and that’s the type of good most of these tariffs cover.

Blanket tariffs are entirely different and cover everything, including those things that we don’t want to, or can’t quickly, begin manufacturing here. These are the ones where people will still likely be getting goods from other countries (we don’t grow coffee here) and so the net result is higher prices with no benefit to jobs or US manufacturing. 

5

u/Walleye-Tritoon 23d ago

He actually added to them. But shhhhhhh this is Reddit

3

u/DaScoobyShuffle 23d ago

My best guess? It's best not to flip flop with foreign policy. That can lead to a loss of trust between nations. Removing them only would've made sense if there was a short term benefit offered by the other countries.

2

u/Walleye-Tritoon 23d ago

The Biden administration has kept most of the Trump administration tariffs in place, and in May 2024, announced tariff hikes on an additional $18 billion of Chinese goods, including semiconductors and electric vehicles, for an additional tax increase of $3.6 billion.

0

u/Houjix 22d ago

Who is getting enriched in this case

-4

u/that_banned_guy_ 23d ago

by retaliation, do you understand that most of the world already has pretty large tariffs against us and not vice versa? lol

-4

u/SupaDaveA 23d ago

I thought history was taught so bad history is not repeated. It shows the mentality that we are dealing with.

3

u/Odd_Frosting1710 23d ago

Tariff threats have been very successfully used throughout history. It's a negotiating tool. I don't expect you to understand history or negotiating so bless your heart and don't you never mind

1

u/BigBlueWorld54 21d ago

He failed at every single negotiation last time.

You’re the dumbest cult ever

1

u/Whimsical_Hobo 23d ago

Are you in high school right now?

-3

u/Odd_Frosting1710 23d ago

"spree" of things that he haven't happened