Trump Signs Order Imposing 10 Percent Baseline Reciprocal Tariffs, 20 Percent On Imports From EU.
Trump Signs Order Imposing 10 Percent Baseline Reciprocal Tariffs, 20 Percent On Imports From EU
20 percent on goods from the European Union, 25 percent on South Korean imports.
Bit higher than expected, but not wholly unexpected either.
34 percent on Chinese goods, 32 percent on Taiwanese imports
Oof. That will tank the tech manufacturing industry. GPU card price will shoot through the roof.
46 percent on Japanese products
Holy shit! What did Japan do to deserve freaking 50% tarrifs? I knew there was some bad blood in the 80s and 90s but is it still the case now?
I hope Nintendo stocked those Switch 2s everywhere ahead of time or it's gonna be rough.
Maybe the US will understand that these tariffs primarily do over thing: raise prices for their own citizens.
Living in the EU, I'm looking forward to the non-tariffed Switch 2.
The issue might be that this isn't actually a negative for the government and its cronies. They want to control their population and making everyone poorer actually helps with that. It could lead to a large-scale rebellion, but I think the conservative brainwashing is far along enough that most conservatives and especially the MAGAs will just ignore it.
Uhm, the EU has tarrifs on imports from outside the EU though? Obviously not as high as the US ones for the Asian countries here, but they are still there.
30% against Switzerland. Even though we don't have any tariffs against the USA (except for agricultural products).
Wtf
I guess the americans like their medicine even more expensive than the ridiculous profit margins our pharmaceuticals already claim?
The Switch 2 is probably manufactured in China, so the 34% should apply, not the 46% from Japan, right? Not worst case but still ridiculous either way
Is it fully manufactured in China, or is the final assembly done in Japan/somewhere else? Because that would change the tarrif.
Guess 1: calculation of trade deficit Guess 2: based on taxes and fines (like the EU has 19% sales taxes on all its products)
Either way: Japan did nothing to deserve this, lower or higher tariffs isn’t because favourability (this time)
I hope Nintendo stocked those Switch 2s everywhere ahead of time or it’s gonna be rough.
The EU has a 20% tariff on Chinese electronics.
US people will start to buy Chinese shitty products with dirty cheap prices now. Or find under the paper ways to get their products.
Oof. That will tank the tech manufacturing industry. GPU card price will shoot through the roof.
Honest question: Why? Aren't these tariffs on US imports? And aren't most graphics cards manufactured outside the USA anyway?
Supply chains are globalized. It just needs one step to be performed in the US (e.g to protect critical IP) for the tarrifs to be applied. Your comment prompted me to do a bit of research on Nvidia's supply chain, and here is what little I could find, a non-exhaustive list of suppliers.
You're right, it doesn't seem like they have parts done in US (mostly Taiwan, China, and Thailand), which should mean they are somewhat safe drom this. But depending on the reseller you buy from, if their distribution network goes through the US, you might still get those tarrifs applied back to you (even if you don't live there).
They aren't reciprocal tariffs. Reciprocal tariffs are matched to an existing tariff from the target nation. That's what reciprocal means.
This idiot thinks trade is a zero sum game and therefore any import imbalance is theft.
Accepting his deliberately false wording is accepting his agenda.
trump literally doesn’t understand anything.
Take trade imbalances for a minute. As an contrived example, we buy $1m worth of steel from Canada, they buy $100k worth of steel from us.
There’s a $900k trade imbalance, and you can tell how trump talks about it, he thinks that means we just gave $900k to Canada for fun.
He completely ignores the part where we traded $1m for $1m worth of steel. We get the fucking steel, it has value, we know it has value because we were willing to pay for it.
But just listen to him talk about trade, he doesn’t understand that basic component of trade. He thinks a $X trade imbalance means we just give that country $X for nothing. He is the dumbest motherfucking idiot on the planet.
We will all get to be that strange old person who won’t discard an orange peel because we lived through the second Great Depression.
Pff, not me. I'm going to become a bank robber.
Last time the US played this game, the great depression came about...
Yea, and then the Republicans of the time lost the House and Senate for 60 years...so...¯\_(ツ)_/¯
I hope your're right about that again. Instead of an FDR you get a Bernie. Fuck... That would be great for the entire world.
Actually, the enacted the tariffs in June 1930 when the depression was already happening. It was not the cause of the depression. It probably made the depression worse though.
Bring it on America. I do love seeing you punch yourself in the face.
America isn't punching itself, it's just the USA
...and the rest of the world's faces while they're at it, unfortunately.
One trick pony.
You have accumulated too many morons. Flee while you still can.