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#tradewar
#Trump doesn’t just want to reduce income tax for the rich, he wants to abolish it altogether and fund federal government via tariffs on international trade. This would turn the clock back to 1913, which he has been talking about for ages. #Trumpland #TradeWar #MAGA www.bbc.com/news/article...
Trump has turned his back on t...
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We don't need your trade war
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We don't want your fascist state
The CGTN video displays images of car factories & humanoid robots dancing in burned-out streets.
"You taxed each truck, you taxed each tire. Midwest burnin' in your dumpster fire," the automated voice sings.
Economists say #consumers are likely to see higher #prices due to the #TradeWar & that the #US #economy could enter a #recession, while some US #trade partners are putting their own levies on American products - effects that #Trump has called a "disturbance". [he’s the disturbance]
That's what you get when you put a total stooge as the leader of the (soon to be former) most powerful country in the world.
"Not long after President Donald Trump’s inauguration, the administration’s economic staff went to work on a daunting task: determining tariff rates for dozens of countries to fulfill the president’s campaign pledge of imposing “reciprocal” trade barriers.
After weeks of work, aides from several government agencies produced a menu of options meant to account for a wide range of trading practices, according to three people familiar with the matter.
Instead, Trump personally selected a formula that was based on two simple variables — the trade deficit with each country and the total value of its U.S. exports, said two of the people, who spoke on the condition of anonymity to recount internal talks. While precisely who proposed that option remains unclear, it bears some striking similarities to a methodology published during Trump’s first administration by Peter Navarro, now the president’s hard-charging economic adviser. After its debut in the Rose Garden on Wednesday, the crude math drew mockery from economists as Trump’s new global trade war prompted a sharp drop in markets."
https://www.washingtonpost.com/politics/2025/04/04/trump-tariffs-reason-advisers/
@fulelo #AmericanCarnage2.0 is all shock and no awe.
#Resist. #DoNotComply. #BoycottUSA to *quickly* end the #TrumpTaxes - aka #tariffs - and #TradeWar.
Graeme Keyes @KeyesGraeme on #TradeWar #TrumpTariffs #TradePolicy #tariffs #Trump #MAGA - political cartoon gallery in London original-political-cartoon.com
"Mr Trump called it one of the most important days in American history. He is almost right. His “Liberation Day” heralds America’s total abandonment of the world trading order and embrace of protectionism. The question for countries reeling from the president’s mindless vandalism is how to limit the damage.
Almost everything Mr Trump said this week—on history, economics and the technicalities of trade—was utterly deluded. His reading of history is upside down. He has long glorified the high-tariff, low-income-tax era of the late-19th century. In fact, the best scholarship shows that tariffs impeded the economy back then. He has now added the bizarre claim that lifting tariffs caused the Depression of the 1930s and that the Smoot-Hawley tariffs were too late to rescue the situation. The reality is that tariffs made the Depression much worse, just as they will harm all economies today. It was the painstaking rounds of trade talks in the subsequent 80 years that lowered tariffs and helped increase prosperity.
On economics Mr Trump’s assertions are flat-out nonsense. The president says tariffs are needed to close America’s trade deficit, which he sees as a transfer of wealth to foreigners. Yet as any of the president’s economists could have told him, this overall deficit arises because Americans choose to save less than their country invests—and, crucially, this long-running reality has not stopped its economy from outpacing the rest of the G7 for over three decades. There is no reason why his extra tariffs should eliminate the deficit. Insisting on balanced trade with every trading partner individually is bonkers—like suggesting that Texas would be richer if it insisted on balanced trade with each of the other 49 states, or asking a company to ensure that each of its suppliers is also a customer."
"Far from being “good on the economy,” there’s a lot of evidence that Trump is basically incapable of understanding abstract entities like “the market” or “the economy.” His entire notion of the world comes down to personal relationships and he personalizes every concept and event. If the market goes down, someone is trying to screw you, personally. If it goes up, and you benefit, it’s because you’re smart. Many commentators are pointing out that he’s establishing something like a patrimonial or personalist regime, which replaces the impersonal rationality of bureaucracy with a network of personal ties and loyalty.
His entire business is based on the notion that his touch is what counts: his brand, and, before that, his businesses worked through what I’ve called “personal arbitrage,” basically leveraging the advantages of an entrepreneurial small businessman against large, impersonal institutions like big banks, financial markets, or the state, which have consistently mispriced the value of his assets. It’s easy to understand why he’d come to the conclusion he’s got some special sauce: if you’ve been counted out so many times and then come back, you might start to think you have some kind of magic power to pull things off, too. He and many of his followers believe he can resolve all contradictions and problems through the sheer fact of his charisma, which, not for nothing, sounds like what a demented dictator and his acolytes believe."
Trump tariffs to cause ‘untold damage’, UK business groups warn | Donald Trump News https://www.byteseu.com/894936/ #business #DonaldTrump #Europe #News #TradeWar #UnitedKingdom
"President Donald Trump on Thursday contradicted his top aides on the purpose of his sprawling new global tariff regime, adding to the uncertainty over the trade war that has sent markets reeling.
Earlier in the day, top Trump aide Peter Navarro and Commerce Secretary Howard Lutnick said the president was not looking to strike deals over the tariffs. “This is not a negotiation,” Navarro told CNBC.
White House officials also circulated internal talking points telling surrogates that the tariffs should not be characterized as a starting point for negotiations, according to three people with knowledge of the matter who spoke on the condition of anonymity to describe internal matters.
But after markets closed down sharply, Trump told reporters on Air Force One that he would be open to striking deals with individual countries."
https://www.washingtonpost.com/business/2025/04/03/tariffs-trump-global-trade-talks/
#trump and his dense #Republican cronies are SHOCKED at China’s predictable assertive response to the #TrumpAdministration imposition of very high tariffs on Chinese products. China ‘panicked’ they say… no, quite the opposite. China didn’t panic at all, they’ve been planning this for months, ever since the ‘fentanyl tariffs’ earlier this year. Have US diplomats and planners not been paying attention to China’s new breed of ‘wolf warriors’, ‘little pinks’ and armies of online activists? The country is taking strong, assertive and expansionist positions across all arenas, political, economic, foreign affairs, trade, and military. We have poked the Chinese tiger, and it is roaring its defiance. Not the expected response by naive US operatives. The stage is set now for a major #TradeWar that could last long enough to drive global #Recession. Hang on to your hats, folks. #economy #economics #tariffs #TariffsWar #China #RepublicansOwnThis #RepublicansDidThis
#Amazon could lose up to $10B in profits due to #tariffs. Profits, not revenues. Profits!
How is that donation amortising, #Bezos? I hope you are happy about your #ROI.
#TrumpEconomy #TradeWar #UnplugTrump #BoycottUSA
Trump’s 34% tariff gambit against China is the latest convulsion of a capitalist system in decay. For four decades, neoliberal orthodoxy gutted the US industrial base, outsourcing production to low-wage markets to maximize shareholder profits. The result is a financialized economy where Wall Street thrives while the real economy lies in ruins. Tariffs, sold as economic populism, are a naive attempt to reindustrialize the economy. 