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Um, this was a campaign promise. He promised to raise tariffs, and the natural reaction of the market to new tariffs is to drop. This isn't surprising, this is expected, and Trump said as much.
If you didn't want that, you shouldn't have elected Trump. Simple as. I didn't want that, so I didn't vote for Trump. Simple as.
The knuckleheads all thought that the other countries would be paying the tariffs because they didn't understand how tariffs work.
well, it's been a quick and painful way to educate the American population on specific economic theories and topics
You don't even need to get into economic theory, just tell them it's a hidden sales tax, and that's all they'll need to know. Tariffs are pretty simple:
They won't see the tax when they buy stuff, but it's still there, and it's largely the same as if the fed government levied a nationwide sales tax, but it only applies to imports. Most US-made stuff relies on imported materials, so it even impacts them.
The Harris campaign literally did this, I want to say in a sideswipe during the debate. And Trump said nuh-uh, it's not a tax, and the campaign more or less shut up about it, wasn't a core feature of their advertising, stump speech, or debate strategy going forward, they opted for "save our institutions" and "he's going to raise the ever nebulous cost of living" (which got lost in the Biden is responsible for bird flu egg prices noise from the other side). Can you imagine betting it all on courting Republican voters, and being so easily talked off of the "he's going to tax you more" hill? I know hindsight is 20/20, but that's some frustrating shit to think about
"Tariffs are a Trump tax" was a core message of the Harris campaign... (Trump really was planning to tariff the entire world 10% since last August!) The last months of the campaign befoee election day are a blur to me, but did Harris really drop that line after the debate? I really doubt it.
A few did. Many still don't understand, and some are doing some pretty impressive mental gymnastics to make it sound like it's Biden's fault somehow.
Neither do Democrats or they would have used that information to win the election.
I find this baffeling. Multiple people, on different topics did disagree with his campaigns promises, and voted for him against their best interest. (Farmers for exemple) Their justification ? "He won't do it". Are you telling me you are voting for someone who promises to do things, in the hope that he does all the other things but the one that would negatively impact you ? REALLY ?!
But you see, America is the Greatest Country in the World™, and therefore anyone they elect as President can't be that bad. It doesn't matter if he repeatedly states how he absolutely will be that bad, he won't actually do the things he says he'll do because those things Can't Happen Here.
I always assume politicians won't keep the promises I like and will keep the promises I don't. Generally speaking, I've been pretty right about that.
That said, Trump did these tariffs in his last term, so I don't understand why anyone would think he wouldn't do it again.
Common clay of the new west and so on
https://www.youtube.com/watch?v=hYTQ7__NNDI
Couple of days ago there was a news item here in the Netherlands about a Dutch tulip grower. And his dad was wearing a MAGA hat. And this old man was saying that Trump was doing the right thing even though his business is negatively affected by Trump’s tariffs. Seriously, conservatives all have brain worms or something. Or they hate everyone else so much that they would gladly suffer to see other people get hurt.
Even if you expected some tariffs the degree and arbitrariness have exceeded almost every expectation. Charitably you could have assumed he meant he would implement tariffs in a way that makes some kind of sense, you know, warning well in advance so businesses can actually plan for them.
It's kind of amazing the market hasn't dropped even more now that the administration has revealed that it has no guard rails guiding Trump's dementia fueled decisions and that he doesn't give a fuck about wall street at all.
Yeah, Trump is a real estate guy, and I expect he has a relatively small allocation to stocks in his portfolio. So he probably doesn't care all that much about Wall Street.
That said, he did give several warnings. He campaigned on a platform of across the board tariffs (I think he even mentioned his 10% figure), he tried doing tariffs at the start and backed off, and now he's committing to them. So that's several months of warning, not necessarily for the actual numbers, but for the general direction.
It absolutely is alarming though. But that's kind of Trump's MO, he holds his cards close, and is usually bluffing, but sometimes he actually takes action.
Anyone charitably assuming anything of him is either a complete fool or complicit. This is exactly what they voted for, whether they admit it or not.