this post was submitted on 01 Feb 2025
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politics

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Summary

Donald Trump announced new tariffs against China, Mexico, and Canada, sparking market turmoil as the measures were set to begin this weekend.

Following the announcement, major indices plunged, with the Dow Jones, NASDAQ, and S&P 500 suffering significant losses, reflecting investor anxiety across global markets.

Canada, Mexico, and China vowed retaliatory tariffs, with officials warning that these measures could escalate trade conflicts and significantly harm economic stability.

Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.

(page 2) 50 comments
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[–] [email protected] 54 points 2 weeks ago (6 children)

Could this finally be the term that Trump speedruns the economy crash so the Republicans can be properly blamed for it happening due to their policies and leadership, rather than the Dems always inheriting a timebomb and wasting a whole ass term fixing it?

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[–] [email protected] 30 points 2 weeks ago (4 children)

If you are a non-Trump voter in a red state, especially if you work for the flagship company or industry in that state, I would like to apologize on behalf of all Canadians for what our government is about to do. We don't want to do it but it is the only way to deal with a bully.

[–] [email protected] 8 points 2 weeks ago

We don’t want to do it but it is the only way to deal with a bully. I think tariffs are bad for the people of the country that levies them. If another country puts a tariff on things my country sells, I'm for unilaterally disarming. Let the other country's people enjoy the dubious industry-protecting benefits of that tax, and let us enjoy the benefits of buying whatever is a good deal.

I think it's nonsense to think that when people freely trade money for goods, the person receiving the money "wins" and the person receiving the goods "loses". They made the trade because it was good for both parties.

I'm American, and we're pursing the opposite of what I think is good policy.

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[–] [email protected] 0 points 2 weeks ago* (last edited 2 weeks ago)

NGL it'd be cool if VYM dropped to $77 again, I'd like to buy into more of that.

Right now it's worth $132 even though the dividends get adjusted down to if the stock was worth roughly $100.

[–] [email protected] 39 points 2 weeks ago (4 children)

We need to seriously start planning states breaking up from the federal government.

[–] [email protected] 27 points 2 weeks ago (2 children)

California already got the ball rolling

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[–] [email protected] 30 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Tariffs are the opposite of a "free market" measure and absolutely choke an interconnected economy. Look at the damage done to Cuba or North Korea by sanctions, it's the same principle. Getting to the real meat of why this is happening is like a forensic case study. Doesn't even benefit Trump unless he basically immediately reverses it and gives the old "see they capitulated to my demands" based on whatever random thing he dredges up.

[–] [email protected] 19 points 2 weeks ago (2 children)

It helps folks who are positioned to buy the dip.

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[–] [email protected] 19 points 2 weeks ago (6 children)

It didn't "plummet" lol its less than a 1% change

[–] [email protected] 14 points 2 weeks ago (1 children)
[–] [email protected] 8 points 2 weeks ago (1 children)
[–] [email protected] 4 points 2 weeks ago (1 children)

Here we goooi! To the floor!

[–] [email protected] 3 points 2 weeks ago

Then back up for that growth and profit!

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[–] [email protected] 13 points 2 weeks ago* (last edited 2 weeks ago)

Is this owning the libs, or does that come with the biggest economic crash in our lives for a third time?

[–] [email protected] 21 points 2 weeks ago (1 children)

Yea! That's the way Republicans and Trump support the economy!

I wonder if we outsiders have to rebuild the American economy with foreign aid and a new Marshall plan in 2029...

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[–] [email protected] 39 points 2 weeks ago (1 children)

Are egg prices plummeting?

[–] [email protected] 36 points 2 weeks ago

Where are all of the "I'm worried about the economy" voters at? Come on be loud and proud!

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