Mirth completely senseless. Case in point, Botswana which is where the US gets natural diamonds, buys very little from US. So he put that 70% tariff on us. For diamonds the US doesn’t mine.

Lesotho has a similar rate. They export tons of textiles enabled by the American Growth and Opportunities Act that Bush introduced. So he’s disabling their main export earner that the US helped develop

      Claudius its funny, the upside of all this is that he is severely damaging US influence around the world through these tariffs and cutting USAID. He seems to believe this stuff was done due to benevolence rather than self interest. Its very funny.

          Isn't that what Mirth's tweet said? 😆
          Quite worrying if Trump actually thinks that's what tariffs are. Like Claude says, Trump's math will basically conclude that any country not importing that much stuff from USA have a tarriff on them.

          In Norway's case, the import numbers he's using are also wrong. I'll assume this goes for several countries.

            Qwiss Claudius its funny, the upside of all this is that he is severely damaging US influence around the world through these tariffs and cutting USAID. He seems to believe this stuff was done due to benevolence rather than self interest. Its very funny.

            When JFK launched USAID, he described it as "a source of strength of us". It was often framed as a way to expand influence in emerging markets ahead of "adversaries". You will definitely see developing countries look to Europe, and BRICS countries for export markets and development assistance. It feels like a war against us

              Mirth "Reciprocal" tariffs. Lol.

              People who said Trump's unhinged tariffs talk was just posturing and a negotiation tactic have eggs on their faces now. Can't wait for them to blame Biden and EU when shit hits the fan for the average American.

                QuincyAbeyie Isn't that what Mirth's tweet said? 😆

                Yeah you're right, there were so many theories flying around yesterday so thought Mirth was something different!

                  it's always about power and control with this administration. the tariffs are a form of economic blackmail to bring the business world to heel in the short term. make no mistake, this is a short term power play to enforce obedience from corporate america, and by extension the rest of the world. as always, they're running a PR scam is that it's for the longterm good of the country. we'll see how much economic pain his cult will tolerate. if the public start to turn on him, I'd expect him to start a war with iran and declare a national emergency and dictatorial powers

                    Gazza M Agree - it's so patently not about the tariffs themselves because there's no economic view or theory that supports placing blanket tariffs on all your trade partners. Including ones you have a trade surplus with (e,g, Australia/UK)

                        Mirth aye. congress has the power of the purse, but if you defang congress and the IRS and make revenue collection fall under the purview of the executive in the form of tariffs, that's the whole ball game. and as always they will jingle a shiny set of keys like 'abolish the IRS', which sounds great if you're stupid or greedy. they know how to sell this dogshit to the public

                          Gazza M it's always about power and control with this administration. the tariffs are a form of economic blackmail to bring the business world to heel in the short term.

                          Yep it's a racket. You've gotta think of him as an aspiring fascist leading a post-globalisation, partly deindustrialised economy. He has his brownshirts but he doesn't have decisive blocs of national capital as his allies, so he reasons he's got to try to carrot-and-stick a few countries or companies into subordination.

                          It will surely backfire badly even in that sense (it's guaranteed to do tons of economic damage). The way international power works, even brute measures such as tariffs, is too diffuse and complex for this. The stuff already circulating about secondary tariffs indicates a level of anxiety. Meanwhile a lot of the incumbent leaders whose countries he's targeting are gaining domestic support out of it.

                            It's not all horseshit tho tbf. This is from the White House fact sheet:

                            "Countries including China, Germany, Japan, and South Korea have pursued policies that suppress the domestic consumption power of their own citizens to artificially boost the competitiveness of their export products. Such policies include regressive tax systems, low or unenforced penalties for environmental degradation, and policies intended to suppress worker wages relative to productivity."

                            This is actually bang on - obviously only raised as a stick to beat these countries with but it's still correct.

                            Throwing blanket tariffs at everyone obviously still is the most unhinged attempt at butt naked imperialism ever. God bless the orange dickhead for his idiocy, nobody else American or not could have caused as much damage to the US as he has already

                              jones Such policies include regressive tax systems, low or unenforced penalties for environmental degradation, and policies intended to suppress worker wages relative to productivity.

                              As opposed to the US?

                                  this toolbag ackman is one wall streets most famous hedge fund managers, and has been a trump glazer for the last 12 months. I love this for him

                                    RowJimmy I did say the US are only saying this to attack Germany and others for it, not that they're any better.

                                      Gazza M Margin calls can make anyone a bit cranky....

                                      jones This is actually bang on - obviously only raised as a stick to beat these countries with but it's still correct.

                                      Yup the diagnosis is correct, they're giving a bloody strong dose of medicine though! Lets hope the cure doesn't kill the patient but am guessing you may think otherwise 😉

                                          There isn't going to be any gains to tax 😆

                                          Gurgen How are your stock portfolios looking lads?