Trump raises tariffs on China to 125% but announces 90-day pause for other countries – business live
S&P 500 sees one of biggest days since second world war after Trump levies pause – as it happened
This just proves that US tariff policies are unstable.
Why would any company move production to US based on tariff then? Imagine spending money to move a factory from China to America, and the next month tariffs flip flop and your competitor laughs at you all the way to the back counting earnings from their Chinese imports.
Dems just need to say that their candidates will drop all new tariffs like this. Which is goofy (repubs pro-tariff, dems anti), but it incentivizes them to not go along with any of this, medium/long term
Whatever Democrats say, it will just contribute to uncertainty which is what the comment you replied to was all about.
Trump is fighting against himself, and he is losing.
This is blatant market manipulation, he and his cohort are laughing their asses off getting richer than ever
Until someone puts a bullet through their face.
Honestly, they seem too stupid to have even that much of a plan.
When I played Pokemon as a kid, I would get so mad when my Pokemon 'hurt itself in confusion'. I thought, how the hell is that even possible. But now I see it first hand...
This is so stupid. He announce tariffs, markets tank. He pauses, markets rebound. He then imposes tariffs, markets tank. He pauses.... oh he's jerking off everyone. got it.
I'll give you one guess when he and his cronies are buying and selling stocks.
I'm beginning to think Wall Street and this stock market thing might involve scamming and fraudulent activity... Maybe crypto too...
🌎🧑🚀🔫👨🚀
Yeah, but here is the tragedy to all that: It is still also deciding, which things get the capital investments necessary to exist, and the livelihood of people has been entangled with that shitshow to an absurd degree.
Sometimes I almost love that I am already at subsistence level disability payments (in a European Welfare state, so thankfully, not in danger of starvation or anything) without any real wealth beyond day-to-day living expenses, there's not that much for me to lose every time this shit happens.
Unless you own a lot of stocks and shares, then a bit of insider trading is really working out well
Just whacking it into his own mouth while the looney tunes factory music plays
To add to that chaos, the announcement that there was a 90 day pause was not even true. It was tweeted by Steven Bloomberg or something and markets rebounded because it spread all over Twitter and outlets started reporting it, but he never said it so they sank. Did he actually end up announcing a 90 day pause now? So now they’re back up? The fuck?
Pure fucking market manipulation.
At this point I kind of hope China goes nuclear and implements a complete import and export ban with the United States. China has the social infrastructure inplace and debt head room to borrow their way out of any kind of financial crisis. The United States does not.
China uses debt differently. Local governments are not allowed to borrow money directly, so they use companies to borrow money for public works. The system is called local government financing vehicle(lgfv). They usually get land, which they sell or lease to get some money or to secure loans. It is usually understood that local governments would bail lgfv out. The issue with lgfv is that they owe more money then the GDP of China and it is secured with mostly real estate, which is somewhat on the edge of crashing. Chinese real estate is crazy overvalued, so popping that bubble can hurt China badly.
The difference is that China is in a trade war with the US. The US is in a trade war with the rest of the world.
This is one of the better explanations on the China debt + real estate connections I've read. Thank you
China exports a lot. The libs on lemmy are lying to themselves if they don't think this is going to hurt China in any way. It's likely going to be harder on them in fact.
Is America the only country on the planet?
You seem to forget that the EU and China are starting to mingle; and that China is heavily involved in Africa et al via the Belt&Road Initiative.
Obviously everyone gets hurt in it a trade war, that's why it's called a war. But the the long term outlook for China is significantly better than America's - they will win a war of attrition.
China is also doing their due diligence. Tit-for-tat is the most effective negotiation strategy, you will not beat physics, and they understand this.
The craziest part is that both America and China were benefiting immensely off of the status quo, considering they were the #1 and #2 richest countries on the planet. But since the least qualified person on the planet to handle money (Trump) has unregulated power, it has all gone to shit.
Yes, they export a lot, but this would only be to one country. The US is likely their biggest trade partner by a large margin, but they could still trade with 176 other countries.
It will hurt them but not cripple them. The US gets SO MANY things from China that it would cripple our country. Every computer chip outside of the TSMC fabs, every junk toy, half our clothing, tons of car parts, everything sold at Harbor Freight and Home Depot, cell phones, etc. They'll still be able to sell those to the rest of the world, but the US would have to switch up our entire global supply chain. It would take years to recover.
Haven't seen anyone saying that.
China's financial instability and housing market issues are going to make them vulnerable. That said, the world does more trade with China than America thanks to global Western companies outsourcing all their manufacturing there (thus screwing blue collar workers in their home countries).
That same world is now slightly more interested in punishing America thanks to the Trump regime. If he doesn't revert to previous agreements in the next 6 weeks or so, then I'd expect a global recession is coming not too far down the track.
This is hard on the whole world in a way that nobody is going to come out hurt less in any meaningful way.
Only one country doesn’t see that.
Reply to some of these comments big guy cmon
Isn’t export to the US only like 3% of Chinas gdp though?
So if the other day was liberation day, then today is…?
Capitulation Day
Decapitation Day.
Profit like a motherfucker day.
You think he doesn't have someone buying the stocks he tanked just before his announcement.
So he's giving the other countries a 90 day reprieve to seek other trading partners? Ones that aren't dictated by a toddler who thinks random mood swings are the basis of a sensible foreign trade policy? Smart move, trump.
Probably less. He could change his mind at any time.
seems like he learned his negotiation skills from the scene in Blazing Saddles where the black sheriff points a gun to his own head. "Do what he says! Do what he says!"
The stock dropped enough, now the harvesting can Start.
yep, you are freaking right.
No, they haven't even got started yet. This is the advertisements before the show, people are still sitting down and buying snacks.
"I am bleeding, making me the victor"
Face to foot style, how'd you like it?
Praise God other people see this connection! A friend and I have been referring to the GOP as Wimp Lo for the last couple of years and are always sad when others don’t get the reference. It’s perfect!
Personally I'm siding with China he's going to hit the rest of us again in 3 months again. This is blatant stock manipulation in my opinion and he should be jailed for both that and treason.
China can respond by immediately n stop all shipments
Trump's tariff policy is like the Windows file copy dialogue.
Remember when flip-flopping was bad for a politician?
No, but this is the art of the deal™
(/s in case any dumbass is reading this. There is no art and he made no deal, except the deal with his criminal friend to do insider trading)
Flip-flopping in and of itself isn't bad.
What it is - is a symptom.
A symptom of being an absolute dumbass. Now that is what's bad.
0
Nothing says "Genius" better than changing your mind more than your Depends.
HIs mind changes with whoever just left the room.
Why stop there? Why not 500% or 1000%? We'll see the greatest US market in history. It'd be legendary. Like no president has ever done before. /S
This guy is a moron. The United States will be in a self made recession or depression very soon cause of this clown.
Trump should just create a tarrif that doubles whatever increase the target nation does.
So tarrifs China 50%. China hits back 50% so now China is 150%
Then China should do the same and raise tarrifs.
Then we'll have infinity tarrifs!
And I think it should be exactly like that.
Considering they have proven they can get algebra solved, with their (x-y)/x formula, China should retaliate with -50% tariff policy. United States doubles to -100%.
Everytime you buy something from China, the US Government has to pay you it's entire value.
China raises tariffs to 204% tomorrow’s headline.
I'm excited for tree fiddy
You'll love your $2250 iPhone and you'll be happy
So he imposed them on everyone to see who would retaliate the hardest and when China did he decided that ok got a target and doubled down even harder. He used it as bait to see who would be the most pissed. Someone please shoot him, cut off his head, hang his corpse from the torch of the statue of liberty.
No one had time. China's tariffs were announced earlier, but the EU and other blocs would have undoubtedly followed (and might still follow with 10%), but they freaking think it through over at least a week like a normal government.
So he imposed them on everyone to see who would retaliate the hardest and when China did he decided that ok got a target and doubled down even harder.
This book "See What You Made Me Do: The Dangers of Domestic Abuse That We Ignore, Explain Away, or Refuse to See" is in the Self-Help section, but surely it belongs in the Politics section instead.
No, China was always the target. Other countries were basically targeted proportionally to their manufacturing bases.
It's about manufacturing (which Trump wants to return to America).
It's almost like tariffs should go thru a process to be decided. Instead of decided by trump when he's sitting on toilet
Now, I'm not an economist but it looks like orange pile was just testing how he could fuck around the economic beehive. I'm gonna get my money out after it recovers and a few days before the orange pile tries anything again. Probably I should move my retirement money overseas?
I'm looking around for other strategies.
Go 100% on BTC, no regrats.
Edit: Yall, this was sarcasm lmao. Don't fucking buy BTC.
LOL
Ah yes, since the one thing that markets truly love is stability, and moving production from one country to another requires long-term planning, this will surely help with that.
He couldn't handle china retaliations so had to pause tariffs elsewhere, so he can focus on china. Now he is forcing Americans to pay 125% tax on china imports.
And its going down again. This is like rollercoaster tycoon irl
"I want to get off Mr Bones' Wild Ride"
Tariffs that change wildly from one day to another it's something that companies really love. Because goods get teleported between countries and you can predict easily what rate you are going to get
Trump the financial terrorif and his cronies are doing an absurd amount of insider trading
wow, a fascist cunt biting more than he could chew? gotta be the first time.
pussy.
Coward. And now he's going to tell everyone what a great deal maker he is - it only cost the world $12 B or so.
The fact that people defend this action is appalling.
So, do I sell because he'll keep wrecking the economy, or do I hold because he'll keep backing down? What do the licensed financial advisors here, acting in their professional capacity and accepting full legal responsibility for the consequences, think?
What do the licensed financial advisors here, acting in their professional capacity and accepting full legal responsibility for what they say, think?
Most of the time they say "Pay me 2% of the value of your portfolio for me to give you that answer".
They say "what legal responsibilities?"
Personally I sold a lot of my "total" market etfs/stocks and bought into staples/utilities/dividends just cause I've always seen those as safeish.
I'm keeping a lot, probably more than I should, in cash expecting things to get worse. I fear I may need the cash or can buy when things get worse, but that puts me at larger risk for inflation (which seems more and more likely). However, I'm not sure what would be protected from inflation at this point (maybe gold?).
And then after 90 days what happens? Because if today you order stuff from another continent to be shipped by ocean, there's a chance it will arrive after that date. Especially if everyone has the same idea of frontloading their warehouses before he changes idea again
He isn't going to wait 90days , he's too impatient, he will resume the tariffs as soon as he feels like it.
Yep, and then pause them claiming, like he did this time, that somehow magically every nation in the world managed to negotiate with him to his satisfaction within a couple of days....
Or claim that no one but China threatened retaliatory tariffs (and of course a lot of them did) and that's why he gave them a reprieve to reward them for not retaliating.
Or to claim that China is a bad actor because they imposed punitive tariffs and that's only something that bad actors do...
Better move the ships quickly, full speed, and pray there isn't another Ever Given
The Orange Turd is a complete moron. He just on a whim crashes world markets.
That’d be funny if everyone who isn’t rich just took their money out of the market so these billionaires can just rob each other over and over instead of actual human beings
Edit: see the correction below by another commenter because I’m vastly wrong, don’t listen to me
"Regular" people not being invested in the market is one of many reasons why billionaires are so rich. 401ks aside, if most normal people got (and had the means to) to hold a few companies they thought were doing good things (and didn't sell on a whim, say hold for at least 5 years), even if it was just like $100 -$1k each, it would be a hugely progressive redistribution of wealth.
Everything's stupid and nothing matters.
I think some of you guys are reading way too much into this.
Trump is having a dick measuring contest while Xi is letting him fuck himself.
We rely on China more than they rely on us. Think about how obsessed we are with low prices. Trade with China brings our average prices on goods way down. China also trades with the rest of the world, and they know they can weather a trade war with the US.
China is the next world leader unless the West can somehow right the ship. WW3 is going to be about who becomes the next Economy and de-facto world leader.
For anyone who needs to hear it: Authoritarian states do not think like people, they think like empires. If you were an empire, would you take advantage of the current climate?
Disclaimer: Both China and the US are authoritarian states, strictly speaking. But the State is not unified under Trump currently, so we're seeing a combination of thinking like a state and thinking like a person coming from the US, depending on the source.
It's about pulling money from the market(s) to his pockets. If the turd was in debt before, now he's (getting) rich. He is also clearly immune to any and all crimes.
It's about that, too.
WW3 is going to be about who becomes the next Economy and de-facto world leader.
It won't be because the next world leader won't be stupid enough to start a war over it. The previous one might try that but it won't help and they can't afford to make it a world war.
There must be a universe where Trump became a train conductor. I wonder what that ride would be like and would it have equal amount of casualties.
Don't you mean in a nursing home, his daughters son and Melania realize he's more than they can handle, when he had thoughts of running for presidency, they stuck him a. Nursing home before he could try.
He would be in amtrack
You know the first time I responded to the article, my brain rejected the title so I made a fun dumb meme.
Now my brain understands the title is real, and it doesn't understand that reality is bullshit
If he weren't just doing this to profit off of market manipulation at all of our expenses I'd be adding this to the very short list of good things he did, including declassifying US endorsement of Syrian rebels and protecting rights to unionize (in Mexico...)
I understand balancing trade deficit is improtant, but the way to fix a mole on your feet is not by shooting it.
Idgaf about trade deficits, we're a trade surplus with SAE by 270%.
I just want to reduce imports from China. They've fucked around and now they need to find out.
Well, that puts them off until after the Switch 2 launch, so good for Americans who are able to get one at launch, I guess.
Damn he really just be doin shit
I mean I, for one, do appreciate the extremely cheap Chinese imports we are about to receive overe here in sanity land. You think nobody in Europe is buying American cars now? Give it a minute, they'll be giving out BYDs in cereal boxes.
BYD is not selling in the US.
They are selling everywhere else
Wtf is going on
They are literally pumping and dumping the stock market as a whole. It's market manipulation by tariff as they make bank on peoples fear.
announce tariffs > market uncertainty > sell off stocks > value goes down > buy the dip > pause tariffs > markets recover > laugh all the way to the bank
or something like that
https://en.wikipedia.org/wiki/Pump_and_dump
Two rules. Only buy. No sell.
Chaos. And it's intentional. It makes the US vulnerable.
I disagree. While many of his sicko fans may be pushing towards this goal, Trump, himself, is far too incompetent, stupid, and demented to understand the point of what ever he is, he does. He reacts at a pure emotion, and this play will obviously end him And all of us in a much worse position. He’ll still convince him, Self he’s winning, though, and every sycophant around him will vociferously agree.
The only way to stop any of this is if Trump, and his entire cabinet, are dead. I’ll leave it up to you to figure out how that should happen.
It's not intentional...
His first term had people managing him and stopping him from doing this shit.
This term is all people egging him on
He thought countries would rush to negotiate, instead they called his bluff. So now he's vaugely saying "everyone" has been negotiating so he's pausing everyone but China.
He wants every country to think they're the only one not negotiating, when really no one is.
trump isn't that hard to predict. 80s sleazy business practices are way more likely than some convoluted scheme to crash everything.
Putin wants him to, and trump is gonna do it. But at no point will trump be crashing the US economy intentionally, he's genuinely doing his best right now.
And that's way fucking scarier
Quick edit:
Even this 90 day pause, it's almost certainly just because they saw the bounce from that fake tweet, and knew it would at least cause another bump if they really did it
They're fucking idiots with no clue what they're doing.
At this point, I am convinced it's a pump and dump scheme, still ongoing, too. It only takes a few people in the know of when and where the news break about the tariff supsension, to seriously make a killing on the market, on the backs of others. Trumpists can now also (for a while) feel like their God has saved them again and never steered them wrong, or curse their momemts of doubt, when they did not buy yesterday, as their prophet called for.
It is a mixture of incompetence, impulsivity, but I am certain at this point, a huge chunk of it is outright corruption and cult tactics.
I honestly believe it is intentional as well. The 90 pause that went around social media the other day wasn't a mistake it was a leak.
They'd be stupid to not be financially gaining from their intentional manipulation. We hired an entire administration of grifters, what else should we expect?
Any bets that it will take less than 90 days before we get the next tariff circus?
And there's only a neutered SEC left to investigate.
2+ million shares of SPY were traded in 3-4 minutes an hour before it broke. Had been pretty much flat since opening for the day. It's fucking blatant.
A psychopathic criminal regime has taken over the US.
And by and large the electorate is fine with it
They're openly doing insider trading
Ineptitude.
Government by a delusional malignant idiot clown.
An entire administration of delusional malignant idiot clowns in fact...
The US is a clown country, no more pretending otherwise.
He's a demented rapist who should be nowhere near government.
Trump is a dumb fuck who got called on a shit by someone he couldn’t force into doing what he wanted. So, like any bully, he’s “changing the agreement” to appear that he is still in power. Which, obviously, he never was.
End stage capitalism
Trump told his friends to short their stocks, announced tarifs to crash the economy, they all made tons of money.
Had everyone buy low, announced pause on tarifs, made tons of money again.
I really hope its that way, and not just trump being batshit crazy and having no idea or plan what to do.
I guess the strategy of USA is based on D20 dices. That would be my best guess.
I think we all know Trump can’t use a dice any larger than a D6 without severe confusion. Hell, might have to scale that back to a coin flip.
South Park already explained how the US government determines economic policy...
https://youtu.be/dvYvQeNeq3A
They wanted to extort other countries but they are too stupid to execute something like this. They used ChatGPT and fake experts to come up with this 'plan' and it failed. Now they are bailing. In couple of days they will start droning Mexico or Israel will start another ground invasion somewhere to cover this fuckup with another one.
Pure idiotic fuckery is what's going on and the idea of a market rebound is hilarious to me because even without global tariffs there are plenty of other things he can do and IS doing to create instability in the USA. He's gotta go, the sooner the better.
HEYYEYAAEYAAAEYAEYAA
Tariffed countries slapped the woke out of trump and his woke tariffs.