China Imposes 34% Reciprocal Tariffs on Imports of US Goods (cnn.com)
- Reference: 0176923823
- News link: https://news.slashdot.org/story/25/04/04/1319228/china-imposes-34-reciprocal-tariffs-on-imports-of-us-goods
- Source link: https://edition.cnn.com/2025/04/04/business/china-us-tariffs-retaliation-hnk-intl/index.html
> On Wednesday, Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, in a move poised to cause a major reset of relations and worsen trade tensions between the world's two largest economies.
>
> "This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice," China's State Council Tariff Commission said in a statement announcing its retaliatory tariffs. Since returning to power in January, Trump had already levied two tranches of 10% additional duties on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US. Combined with pre-existing tariffs, that means Chinese goods arriving in the US would be effectively subject to tariffs of well over 54%.
[1] https://edition.cnn.com/2025/04/04/business/china-us-tariffs-retaliation-hnk-intl/index.html
Re:Fuck China... (Score:5, Insightful)
Just keep thinking that way. Already our insane whackjob has pushed everyone closer to China. Meanwhile, he just removed a Russian Oligarch's wife off sanctions. [1]https://www.cnbc.com/2025/04/0... [cnbc.com] He also just fired the NSC chief. Yeah, he learned, remove all the people who kept the guardrails on him last time. Only loyalists can be in any position.
[1] https://www.cnbc.com/2025/04/03/trump-treasury-sanctions-putin-russia-rotenberg-ukraine.html
Re:Fuck China... (Score:5, Insightful)
"USA will continue punching itself in the face until China falls in line".
Here's the thing: China has plenty of other countries it can trade with. China will be fine.
The USA, OTOH, has just alienated all of its trading partners simultaneously. There are no alternative countries for the USA to trade with to make up the shortfall. All US companies that rely on imports or exports in any way are fucked. So "we might have some pain" is a bit of an understatement.
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I wonder if there is money getting stuff from China, shipped Antarctica, then back to the US with a 10% hike. It might barely break even, but it be very funny.
The side of the ship could have a picture of a penguin sliding on ice with the slogan "Smarter than the average world leader"
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EU charges 45% tariff on EV cars made in China. The rest of the world will continue to trade with US. They don't have much choice.
Re: Fuck China... (Score:2)
Why would the rest of the world trade with the US? How many products are made there that aren't made somewhere else? Especially China.
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This.
It would be harder to picture a series of move more in line with the needs of Russia and China than what we have been seeing here. Both countries are getting exactly what they want out of the US right now, and the systems have been broken so badly it will take generations to put them back together, which by then someone else will likely have rising as a world power.
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Personally, I think foreign governments should just ban Apple and Google products (handsets) and then add a VAT/tax/fee for any American tech service.
Phones are not necessary and any pain can be quickly alleviated by buying a similarly featured phone from Xiomi or Huwawai or Samsung or whatever.
This move would royally piss off American tech bros who are very buddy/buddy with Trump.
Re:Fuck China... (Score:5, Interesting)
> We might have some pain, but we need to get UN-entangled from china economically and treat them as the aggressive adversary they truly are.
I'll take signs you're in a cult for $100, Alex.
For years I heard how Biden fucked up the economy along with everything else and now your story has changed to this market crash is totally necessary.
Re:Fuck China... (Score:5, Insightful)
> We might have some pain, but we need to get UN-entangled from china economically and treat them as the aggressive adversary they truly are.
And all we have done here is open the door for China to take over as the global hegemon. If the US was doing this trade stuff but from the position of a strong leader to it's allies then maybe you have a point but simultaneously pissing off all our allies in NA and EU and Asia, receding from the world stage, capitulating to Russia, why should China view the US as anything but a nation on the downslope.
From their POV all they have to do is tough it out (which you listed many of the reasons they are well equipped to pull back and regroup, they control their media, they can easily sell any economic hardship as America's fault) and be nice to everyone we've pushed away. The tariffs don't take place in a vacuum this is practically gift wrapped for Xi to capitalize on.
Re:Fuck China... (Score:4, Interesting)
> Fuck China.
> As soon as they stop manipulating their currency and other underhanded tricks (requiring US companies coming in over there to become "partners with CCP and share trade into"..etc....then we can talk fair.
More to the point about direct trade and manufacturing, China's MO has been to buy some stuff from the US and Europe, shamelessly copy it, and then sell their own unlicensed versions. The game plan for Beijing has always been to catch up to the West by reverse engineering our stuff, and then subsidize their own industries to the point where Western products are driven out. Examples in China abound, like the COMAC C909, which is an [1]unlicensed ripoff of the DC-9 series of airliners [wikipedia.org], developed using McDonnell Douglas's own tooling seized from their ill-advised "joint venture" in China.
In China's case, trade has mostly been a one-way street, with the US and other nations losing thousands of production jobs for the hollow promise of China buying big ticket items as compensation. We can see that "catch up and cast off" has always been their game plan. There's a book called [2]The China Dream [amazon.com] detailing the West's history of dumping money into China hoping for huge returns and then watching it disappear into a black hole. What's going on in China is a very old story, going back to Marco Polo. So even though they're going to be painful, I'm fin with the Chinese tariffs. Now is as good a time as any get out of China if you're a business. It was always going to happen eventually.
[1] https://en.wikipedia.org/wiki/Comac_C909
[2] https://www.amazon.com/China-Dream-Quest-Untapped-Market/dp/0802139752
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Don't get me wrong, I 100% agree with you. We should be doing something like a VAT or even tariffs then start lowing income taxes over decades IF the goal was to reduce global exports. Be more aggressive with foreign policy and "invest" in Africa to counter China's influence. Hell even standing on "moral" grounds would of brought brownie points going agents China. However, that bridge was crossed, gated, and mined.
Honestly, at this point, I don't think Trump in Putin's pocket anymore. I seriously t
Re: Fuck China... (Score:2)
EU will probably do the same as China soon. It is time to cast out the demon. Brace, brace, brace.
AMexit (Score:4, Interesting)
If Britain pulling out of EU trade was Brexit, this is AMexit - America leaving the whole world.
Re: (Score:1)
Sanitexit: Abandoning sanity.
Escalated?? (Score:5, Insightful)
> ... after US President Donald Trump escalated a global trade war.
... after US President Donald Trump started a global trade war.
FTFY
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The trade war on US goods has been going on forever. BMW 2.5% import tariff into US. Ford 30% import tariff into Germany. This is US retaliation.
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Carefully targeted tariffs have been around for ages yes, but that is dfferint from a 'war'. Trump is treating tariffs as a reason unto themselves, throwing them around with only the most basic economic calculations since actual effects are not the point. He wants a war, he wants that specific weapon, and he wants to feel like he is winning. Him. Not america, not the economy, him.
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Personally I think the current administration's approach is needlessly incendiary and confrontational, but it IS true that the US has accepted unbalanced tariff regimes for decades as 'part of supporting our allies'.
At the same time, the US has been nakedly hypocritical on (for example) agricultural subsidies to US farmers.
Personally, I think the US would be better off in a GATT world where tariffs are broadly absent, but then I haven't also spent the last decades whinging about globalization either. I do
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Trump didn't start it. This trade war has been going on since at least 2011.
[1] Here's a congressional hearing about it [govinfo.gov]
[1] https://www.govinfo.gov/content/pkg/CHRG-112jhrg74026/html/CHRG-112jhrg74026.htm
inbound package (Score:2)
I have a couple of small packages on the way from Aliexpress. Guessing they won't be organized by the time my packages arrive, but half expecting a tax bill for them.
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Tariffs paid by shipper, not the reciever. Your package will be fine. Sellers will have to adjust prices going forward, assuming this all sticks.
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Tariffs are paid by the consumer. The company passes on all cost increses to you and me. In reality, it's a tax. $6 trillion is the current estimate for how large the tax on consumers will be with all these tariffs in place.
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Like I said, tariffs are paid by shipper. they will adjust prices moving foward. No consumer gets a "tax bill"
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The tax bill is the increase in costs to the consumer. It's paid by the consumer. Stop making excuses.
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Don't bet on it. My packages have to clear customs. Customs can absolutely charge me some kind of import duties.
[1]https://archive.ph/cD3p8 [archive.ph]
[1] https://archive.ph/cD3p8
What's the true endgame? (Score:3)
From day one, I believed that Trump's intention is precisely to sow chaos in the global economy, generating an unprecedented economic crisis with the aim of forcing a change of regime from socio-liberal to right-wing authoritarian in as many countries as possible.
This would explain why he took these actions right at the beginning of his government. By the end of these 4 years, many affected countries may have turned their backs, since the population will tend to blame their own leaders for the crisis. And in the US, if inflation stabilizes by then, most Americans will have already gotten used to higher prices and will have forgotten all about it.
This is, of course, just a theory.
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*turned their backs
I meant, turned sides.
Re:What's the true endgame? (Score:4, Interesting)
Doesn't seem surprising when people voted for the guy who bankrupt multiple casinos and would be richer today had be let his initial inheritance just ride in the S&P 500. [1]https://www.forbes.com/sites/d... [forbes.com]
[1] https://www.forbes.com/sites/danalexander/2021/10/11/its-official-trump-would-be-richer-if-he-had-just-invested-his-inheritance-into-the-sp500/
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It takes a special kind of "business genius" to lose money on both casinos and New York City real estate, that's for sure. I grew up in NYC and knew who he was when I was a child, and I was shocked during the primaries in 2016 that people were actually voting for him based on the premise that he was some kind of financial savant.
With that said, if you actually read the article you're posting, it isn't as simple as you make it out to be. The article claims that, at the time the statement “Had Trump d
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> would be richer today had be let his initial inheritance just ride in the S&P 500.
But then he wouldn't have all that experience screwing and trolling people.
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> forcing a change of regime from socio-liberal to right-wing authoritarian in as many countries as possible.
Or the complete opposite. The right way to respond to violence is to unite. Given that the US attacks many countries at once, this is also a logical reaction. For example, it has brought Canada and the EU closer together.
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The chaos is intentional, but I believe it's more about bringing a new economic system. Bretton Woods(1944) -> Neo Liberalism/Nixon Shock (Nixon 1971 abandoning the gold standard) -> Trump/Bessent Tarrifs (2025). They're aiming to twist the arms of our allies into pegging their currency to a weakening dollar, which would allow the US to continue to spend more(on the military) than they earn. However, the fatal mistake is that they're doing the tariffs all at once, creating global solidarity to fight a
Re:What's the true endgame? (Score:4, Interesting)
Could be. Because if this was about "bringing manufacturing back to the USA", the tariffs would have been implemented slowly like 1% added every month or something .. so companies have time to build capacity in the US. Instead, it will cause a capital freeze. Hope we're happy with 401k tumbling. Meanwhile the world will polarize against us. The world will advance more into high-tech while our workers will be reassigned from aerospace, robotics, and high-tech to making T-shirts and cheap plastic products. The US unemployment rate is 4%, plus we're deporting or selling into foreign slavery our cheapest workers, so the US workers to manufacture basic products have to come from somewhere.
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I don't think he has an endgame. There are dozens of people whispering in his ear that have various objectives, and for Trump himself, tariffs ARE the endgame. They are not supposed to DO anything, they are the things he wants regardless of what effect they have.
Though one thing that makes such theorizing difficult is, well, those dozens of people. Each of them have an endgame, but Trump jumps between them so randomly that nothing is really lining up. Though the most consistent part... Trump is going
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> This is not the solution for these manipulative, slave-labor-using commie assholes who only care about money. Get rid of the "developing country" subsidy in international shipping THAT WE PAY FOR. Then Temu, Aliexpress, and all their friends and fail simultaneously when you can't get $2.99 shipping on a single item and it costs $20 instead, like it should
I know another group of people who only care about money. The Chinese government subsidizes shipping from Temu, how do you propose we make them stop?
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I'm pretty sure the U.S. isn't subsidizing shipments from China. Can you provide any sources for that besides "trust me bro"?
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[1]https://protrans.com/blog-why-... [protrans.com]
"...you can buy a one pound package from South Carolina and have it shipped to New York City for approximately $6 whereas the same product shipping from Beijing to New York only costs about $3.66. Sending that same package from NYC to Beijing costs around $50."
"...the UPU charges developing nations considerably less than other fully developed ones – sometimes 40-70 percent less – to ship their postage. Nations like Bosnia, Botswana, or Cuba receive signific
[1] https://protrans.com/blog-why-the-international-postage-imbalance-what-can-we-do-about-it/
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Are you sure that side is up to date? [1]https://www.americansabroad.or... [americansabroad.org]
[1] https://www.americansabroad.org/potential-effects-of-us-withdrawal-from-the-universal-postal-union-for-us-citizens-overseas
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I think people tend to forget that China, as a nation, is still very poor. It is depicted as wealthy because of how concentrated that wealth is, but on average (which is what the system is designed for), it really isn't. But America has a bit of a problem with only seeing rich people, the poor just don't exist.
Video of the day (Score:3)
If you need a laugh after checking your 401k this morning. [1]https://www.youtube.com/watch?... [youtube.com]
[1] https://www.youtube.com/watch?v=STUFbDdEnsY
Withholding Taxes Please! (Score:2)
Remember withholding taxes on sales? Remember that they were phased out because tariffs were being reduced aka global economy. And global tax agreements were just around the corner (but never happened). For Europe it would catch rented software and recurring digital ads. USA would benefit by demanding locally export only goods, are also available in country of manufacture. Info; Caterpillar machinery sold by the Swiss subsidiary does not pay American tax if they choose not to remit the profit. I doubt US
Prediction (Score:2)
I predict he will lift most of this in the next few weeks and claim some wins from whatever happens. Then the market will rebound and he will use this low as the marker for how amazing his leadership is. That gives him an extra 15-25% bump since he can omit the high of a ~45k DOW he inherited.
Make America (Score:1)
Poor Again.
Re:Make America (Score:5, Insightful)
Hey we may be living on the streets and eating cat food but at least we owned the libs in the process!
Anyone taking bets on the stock market triggering a halt today to prevent free fall?
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I hope they play some Tom Petty when that happens.
[1]https://www.youtube.com/watch?... [youtube.com]
[1] https://www.youtube.com/watch?v=1lWJXDG2i0A
Re: (Score:3, Insightful)
I'm happy to watch it fall. It's time to stop helping Wall Street at the expense of Main Street. Where I live, since 2020 almost every industrial business has closed, minus a rock quarry. All of this came at the expense of Chinese products. It's also terrible that so many "American" cars are made in Mexico, again at the expense of American workers. Yes, prices will go up, but so will wages as manufacturers compete for labor. And if you're going to claim that robots will just fill the jobs, that's complete n
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Correcting myself: since 2000, not 2020.
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... every country or trading block with high tariffs had high tariffs on our goods.
That is a lie.
It's not one you invented - the initial source is the white house, and all of the RWNJ media is echoing it.
But it is a lie.
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It's not a lie; it's just newspeak. Trump is just making good on his promise to Orwellify the US: War is peace. Freedom is slavery. Ignorance is strength. Insanity is wisdom. Sacrilege is holy. Trade imbalance is tariff.
Re: Make America (Score:4, Insightful)
No, that is not a tariff but value added tax (VAT) which also applies to all local products.
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Maybe you should look it up. Some of the number Trump present are a little bit inflated, but no matter how you slice it, they're all significantly larger tariffs , not VAT, than we charged on imports.
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> The European Commission says it charges an average tariff of just 1% on US products entering the EU market, "considering the actual trade in goods". It adds that the US administration collected approximately 7 billion euros of tariffs on EU products in 2023 compared to the EU's 3 billion euroson US goods.
> A World Trade Organisation (WTO) estimate puts the average tariff rate on US products entering the EU slightly higher at 4.8%.
[1]https://www.euronews.com/my-eu... [euronews.com]
[1] https://www.euronews.com/my-europe/2025/04/03/fact-check-are-donald-trumps-tariffs-on-the-eu-really-reciprocal
Re: Make America (Score:2)
I live in Europe, I know this from personal experience.
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Wrong. Trump's table has nothing to do with tariffs on US goods entering other countries.
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> Yes, prices will go up, but so will wages as manufacturers compete for labor.
>> Hahahahaha.
>> Wait, you're serious? Let me laugh even harder...
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You think factories and jobs are going to spring up overnight? The US isn't ever moving back to a manufacturing economy. Hell, China is even moving away from that. Why do you think China is investing so heavily in Africa?
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Yeah, they keep referencing the gilded age and how well tariffs worked then, but really it is a one time thing. Tariffs can be effective at protecting developing economies as they are transitioning, not once they are already developed. All tariffs do at this stage is protect everyone else while weakening the US.
Re:Make America (Score:5, Insightful)
Let's say I am an American company, why would I now be compelled to spend billions to open a factory in the US now when:
Experiencing massive economic uncertainty (businesses love uncertainty right?) , the falling stocks have closed up a lot of capital that would fund that expansion,
said new factory would take 2-5 years to build and open and right now nobody knows what the economy will look like in 3 days much less 3 years. Also consumer spending is expected to plummet in the near future.
These tariffs are done via EO so they can be undone via EO. If Jan 2027 or 2029 everything is rescinded now I am left holding the bag on an expensive factory producing more expensive goods. Kinda risky compared to say, just raising prices as most every other business is going to do and ride it out.
Even in your example thanks to those retaliatory products I would expect BMW to start laying off workers as US exports become less competitive. If BMW was considering opening another plant in the US they are likely reconsidering that now. The US is clearly an economically risky place to invest in currently.
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When it opened, that BMW plant built almost every model of car on their line, minus the M series. Most of those cars stayed in North America. Now they only manufacture a couple of their SUVs there, many of which are exported globally. Don't I keep reading all over /. about how shipping goods overseas hurts the environment? If you think about it, cars are mostly empty space. As BMW has previously built almost everything there, they can resume doing it. That's not a huge changeover. And it was costly to build
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So you expect American demand for BMW cars to increase more than the loss of that plant's export market will cost them? Enough increase in BMW sales in the USA to where they will expand production at that plant now? In a time of reduced consumer spending and car prices expected to increase (Does BMW use all USA made parts in those cars?)
A strawman aside about environmentalists isn't really making a strong argument either, if we're gonna be silly like that I can point to every response on /. about shipping e
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> So you expect American demand for BMW cars to increase more than the loss of that plant's export market will cost them?
You can't be this stupid. The sales remain the same, but the source for cars that were previously made overseas for the US markets becomes the US.
> I can point to every response on /. about shipping emissions to also point out sea shipping is like 3% of global emissions.
ROTFL. "Only"! How about making that near 0 instead. I'm not going to bother responding to the rest. You really have been manipulated by Wall Street. Your eyes really have been shut to what's been going on the last 30 years. My town has lost all of it's industry minus a quarry since 2000. Now people work at McDonalds and Arby's. Why not concentrate on everyone in
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Why would you assume the sales remain the same? Prove your positive claim.
What's your problem with people working in food service? Do they not make enough money? If that's the issue focus on that and don't just fetishize "industrial jobs" and expect us to do your mental work for you.
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Trump's end plan is to auction off exceptions to specific businesses.
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> Now they only manufacture a couple of their SUVs there, many of which are exported globally
And who will buy these exported cars now that other countries will impose reciprocal tariffs? Since that plant is mostly producing exported goods, that plant is probably going to close.
> And it was costly to build new factories in Mexico, China, etc. Other manufacturers have done it before, they can do it again.
You missed the point. 1) It costs money to build anywhere. Building a factory the US was considerably higher than in those countries. Building cars in those factories in those countries is higher than in the US. 2) Those plants are already built. Building new factories going forward will cost additional money the companies di
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> And who will buy these exported cars now that other countries will impose reciprocal tariffs? Since that plant is mostly producing exported goods, that plant is probably going to close.
OMFG. Why would they close the plant when they can instead retune the plant back to producing nearly every model? As previously stated, the plant USED to build nearly every model for the North American market, and as such can do the same again. And again, are you missing the fact that so many factories in this country have shut down? FFS, open your eyes.
Re:Make America (Score:4, Insightful)
> Even in your example thanks to those retaliatory products I would expect BMW to start laying off workers as US exports become less competitive. If BMW was considering opening another plant in the US they are likely reconsidering that now. The US is clearly an economically risky place to invest in currently.,
The more I hear these arguments, they more they sound like Brexit arguments. For example, the UK used to have a Honda plant that exported many cars to the EU. Honda warned that they might have to close the plant if Brexit happened. Brexit happened. Honda closed the plant. Brexit supporters are probably still wondering why that happened.
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Truly the USA saw Brexit and said "that but worse"
Re:Make America (Score:4, Insightful)
America has a trade surplus in services. And much of America has their IRAs invested in Wall Street as well as Labor Union funds. Tariffing goods the way that ignorant git is doing it won't bring factories back to the U.S. It is too haphazard and arbitrary, business won't invest in that environment, especially since America might get some sense and turn the Maggots out in the next election.
And even if they did invest in new factories (that ignorant git included as "factories" 2-3 person companies when he was drooling to the press), those new factories will be modern and produce with a minimum of workers. One of the things that depopulated the working poor to just the poor was automation. So rather than investing in education and training, la Presidenta opts to shoot the messenger. He's not really capable of understanding anything without an immediate effect regardless of how stupid it is.
This is nothing more that la Presidenta making an enormous bet with the entire American economy. He always was a gambler, that's how he ran his "companies" into the ground, always looking for the "big score". He's a bad gambler. Want to bet how this will pan out?
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> America has a trade surplus in services.
Build an aircraft carrier with services. Or a jet fighter. And those services? They're, and were anyway, about to get exported as well, as there's no current way to tariff them.
> And much of America has their IRAs invested in Wall Street as well as Labor Union funds.
All of which there's no working class anymore to benefit from. Working at a restaurant doesn't give you an IRA. Many Labor Unions were largely destroyed over the last 30 years. As I already pointed out, many manufacturing plants require workers, and it's way more than 2-3 workers.
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He's a bad gambler. Want to bet how this will pan out?
It's not his money, why should he care? When it comes to the Golden Grifter, it's always some else's fault for his failures.
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And what materials are you going to use at this new, magical factory that will some how appear out of thin air, to assemble these cars? Steel from China, oil from Canada, chips from Taiwan, batteries from Africa, leather from Europe....? all of which now costs 40% more? and now there's no demand for your product...?
Good luck with that.
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Clearly a magic bag of holding. This seems to be the logic of most tariff supporters. Things magically come from nowhere in great supply.
Idiot (Score:5, Insightful)
but so will wages as manufacturers compete for labor
How much do you think you're going to make running a sewing machine in a shirt factory or forming fiberglass fenders? Those were minimum wage jobs in the 80s, before that all moved to Mexico.
The plan is not to make you richer, the plan is to make you too desperate to complain. You're responding to a romanticized vision of manly 50s factory work supporting a Leave It To Beaver lifestyle. To the extent that ever existed, that world is gone.
This is a $6 trillion tax on the middle class that will be used to (a) finance permanent tax cuts on the billionaires and (b) subvert democracy by extorting domestic companies begging for exemptions, just like he's extorting Biglaw.
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You have a rock quarry in town? Are they hiring??
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Close the money loop? Do you have any idea how much of the US economy is propped up by foreign investment? It counts to the GDP, but not trade balance.
Things can not be 'fixed' by leaning into american exceptionalism and belief that the rest of the world will crawl to our doorstep because we are just that awesome. The US has been EXTREMELY expensive for the rest of the world to maintain, and now there is a good chance that wealth will be spent elsewhere.
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> It's also terrible that so many "American" cars are made in Mexico, again at the expense of American workers.
What is ironic is that the American car companies gave Americans grief for buying Japanese and not American cars when those Japanese cars were more American than they were. For a long time, most Hondas and Toyotas sold in America were assembled in America. These days all manufacturers have at least one model made in Mexico.
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> And don't forget, every country or trading block with high tariffs had high tariffs on our goods.
Citation needed.
> If you think tariffs don't work, then why do these countries have them?
Tariffs work when they are specific and targeted for a situation. Blanket tariffs are idiotic. That's like saying if a drug works for a certain illness why doesn't everyone take that drug?
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> And don't forget, every country or trading block with high tariffs had high tariffs on our goods.
Wrong. Announced tariffs by Trump have nothing to do with reciprocity. They are calculated based on the trade deficit as a percentage of that country's exports to the USA. Divided by two.
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> cars are made in Mexico, again at the expense of American workers
Your entire post is based on ignorance of reality. US unemployment has been at historic lows, especially in the manufacturing field. You and your ignorance can get bent.
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Anyone taking bets on the stock market triggering a halt today to prevent free fall?
It won't fall far enough to trigger the halt. There shouldn't be any halts regardless of how far it falls, but it won't happen today. People like me will buy the plunge which will offset some of the losses.
Re:Make America (Score:5, Informative)
Anyone taking bets on the stock market triggering a halt today to prevent free fall?
The better question is, when do legislative (R)s remember that Congress controls tariffs? The only reason Donnieboy can do this is because they're letting him.
14 Republicans still in possession of spines could reverse this.
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Grassly saw the light. [1]https://www.politico.com/live-... [politico.com] 13 to go
[1] https://www.politico.com/live-updates/2025/04/03/congress/top-republican-leads-bill-to-reassert-congress-tariff-power-amid-trump-trade-war-00268710
Re: (Score:2)
The best part of owning the libs is that you get to do it with leftist policy.
If you govern conservatively, the libs get happy.
But change everything, break things, do the never-before-tried, abandon decades-old (or even centuries-old) solutions, tear down Chesterton's Fence, and the libs cry.
The right is left of the left; the left is right of the right. Congratulations, everyone here today: We live in interesting times!
Re: (Score:2)
there's plenty of crying from the Right, right now.
examples:
Mike Pence - “the largest peacetime tax hike in US history”
Rand Paul - “Our constitution was very specific that taxes – tariffs are a tax – taxes originate in the House, come to the Senate and then go the president,” he told reporters. “They don’t just go to the president and no one else. What kind of system would it be if all of our taxes and laws were passed by one person?”
also, i wasn't aware
Re: (Score:2)
"Anyone taking bets on the stock market triggering a halt today to prevent free fall?"
it would have to drop a LOT abruptly for that to happen.
this could prove to be a golden buying opportunity for those who have the cash & can afford to play the waiting game.
unfortunately, i'm not one of those
Re:Make America (Score:5, Insightful)
I'm sure these are just the first of many.
What may hurt the US even more though are export controls on things like rare earths and components.
Unfortunately it looks like the rest of us are going down with you. Markets seem to be operating on the basis of there being a global recession.
Re: (Score:2)
What will hurt the U.S. is now countries know they are too heavily invested in trade and other agreements with the U.S. So la Presidenta may get some short term "wins" he can blow his horn about, longer term countries will remove the U.S. from consideration. And there's no turning back. Those countries finally understand how stupid Americans can be to elect an idiot like that. They will never trust Americans to not be so stupid in the future.
Re: (Score:2)
Definitely. Mark Carney said it yesterday, the US has abdicated its role as the holder of the reserve currency, financial stability, the rule of law, the global trader. The priority now is to isolate and contain it.
Re: (Score:2)
Poor China. Australia is 100% dependent on American Pecan nuts with walnut's not far behind. California can keep its purple garlic milkshakes though. Where would a Chinaman get 14 EEEE runners? Aircraft jet engines? One is curious where firefighting equipment /. sensors is made - but CA does not need it right now.