Russia?
this post was submitted on 02 Apr 2025
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Lmfao buckle up for the second Great Depression, everyone! It’ll be fun! ᕕ( ᐛ )ᕗ
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As I understand it, that “rest of the world” is actually a base tariff, and the rest of these are ON TOP OF that.
So China is actually 44%, etc
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Holy shit the post-market drops for SPY and QQQ are insane. I haven't seen a post/pre market move this sharp since Covid
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China: 34%
Added note that this is cumulative so it's 54% total. Confirmed by Press secretary earlier.
After hour stock trading is a fucking slaughter right now. We might see the biggest drop in history tomorrow.
Just trying to understand the Australian perspective on this. Maybe others can correct me.
He's using the term "reciprocal" as a way of saying certain practices are unfair.
For example, we refuse to import raw meat products because we don't have mad cow disease here.
We also don't have american style healthcare, so pharmaceuticals can't be advertised and are purchased exclusively through the federal government procurement scheme.
In response, he's applying a 10% tariff on any Imports from Australia. I assume this is in addition to the aluminium and iron ore tariffs but I'm not sure.
We have a federal election coming up so the opinions of both major parties are relevant. Our current progressive PM says it will hurt the US more than us, that we're not going to respond with tariffs on US products, and we do have legal recourse through our existing free trade agreement.
From here it's hard to see this as anything other than a huge self-own by the Trump Administration. We just don't export a lot of stuff to the US, our stock market has responded positively since the announcement. I would be absolutely gutted if the Australian government made any concessions what so ever, and I don't think I'm alone in that. We have our fair share of MAGA idiots down under, but even they are nationalists, with families. No one here has any interest in letting Trump fuck with our health care system just so Americans pay less in tariffs.
Just saw a news item here in the Netherlands about a bourbon distillery in the US and the owner said that in the long term the tariffs will be good for his business. LOL these magats are delusional. I fucking hope he and his ilk become destitute. Sorry not sorry.
Never mind the money. Think about this: Is the American lifestyle self-sustainable?
No? Why not?
Because they use more than they produce? Yes, and where do those things come from?
Imports? Yes.
Trump litteraly put a stop to the American lifestyle.
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How are they even coming up with the number all these countries supposedly tariff the US?
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Don't buy American. Make America lose the trade war and crawl away from these tariffs
So is the plan to drive the cost of everyday essentials so high that virtually everyone bankrupts and the billionaires buy all of our assets for pennies on the thousand dollars? That is all I can come up with trying to make a scenario where this has some coherent objective.
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This Wikipedia page is going to be relevant to all our lives very soon.
https://en.m.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act
In 1930, the Republican-controlled House of Representatives, to alleviate the effects of the...Anyone? Anyone? The Great Depression passed the, anyone? Anyone? The tariff bill? The Smoot-Hawley Tariff Act? Which, anyone? Raised or lowered? Raised tariffs to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression.
.. Bueller? ... Bueller?
This is killing so many small businesses. I know mine is basically dead now
Only ones "looting, raping, and pillaging our country" are billionaires.