thanks Walmart this is really good timing
this post was submitted on 23 Nov 2024
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No shit.
This is literally in the first paragraph of every economics textbook when they talk about tariffs.
Donald Trump didn't win the Presidency by reading textbooks.
And you don't need a textbook to understand how the very basics of business work. You know, the thing people seem convinced he understands? A fucking toddler has more knowledge than Trump. The United States of America doesn't have two brain cells to rub together
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It doesn't even matter:
https://www.axios.com/2024/11/18/consumer-confidence-trump-republicans-white-house
Turns out, a lot of consumer mood is literally just people's social media feeds. Even if prices go up and QoL goes down, on average, consumers might feel better simply because Trump being in office makes them feel good.
I am not going to point out how monumentally problematic this is... Nope. There's definitely no bad precedent for that.
But the question is, will American manufacturing make up for the costs? Or, will American manufacturing just raise their prices to match the tariffs and lump the profits into their executive bonuses. They deserve it after all for being smart enough to raise prices.
American manufacturing CAN'T, it would take years, decades honestly, to get back the capacity to make all the crap we've outsourced to other countries.
And this is the absolute brain rot fantasy of tariffs that I keep explaining to these idiots, and keep getting blank stares or awkward silences.
Tariffs are 100% punitive, without a domestic/alternative sourcing strategy. They can work long term to reduce a foreign nation's competitive advantage in an industry while allowing a domestic industry space to exist, but that only works if there’s a domestic industry that already exists (at enough scale to meet demand) or a long term government program to nurture and build those industries - education/vocation training, regulatory concerns, infrastructure development, raw materials availability, etc
Tariffs Chinese steel/electronics/machine tools/etc into oblivion? Either buy the imported at a high price, or buy the domestic at a slightly less high price - but the cost is always carried by the consumer no matter what.
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If some other countries are any indication, not only will they raise the prices but they will raise it way more than the tariffs and just blame on tariffs and with time people will just think that is the way it is. "X cost 3 times as other countries? That is because the tariffs" no mind that the tariffs is like 50% and not 300%. Like they already do with gas prices. Gas go up immediately when oil prices rise but only goes down, if ever, for new stock.
During his first term Trump put a tariffs on Washing Machines. The price of imported washing machines went up. The price of domestically manufactured washing machines was also raised. Even the price of dryers — which didn’t have a tariff — went up on both imported and domestically manufactured appliances.
I have yet to see an economist that thinks Trumps tariff plans will benefit the working class.
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That is exactly what US steel did in response to the steel tariffs back in Trump round one.
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I feel like no one bothered to campaign against Trump.... until... AFTER he won
100% guarantee price raises across the board, even for stuff not affected by tarrifs/mass deportation labor shortages.
It'll be covid all over again, an excuse to price gouge the fuck out of those who can least afford it.
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It's a certainty, not a fucking "likelihood'. That's how they work.
You mean there's no chance that Wal-Mart might choose to absorb the increased prices out of the goodness of their hearts? :o
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China will pay for the tariffs in the same way Mexico paid for the wall.
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They voted for nonsense looks like they are getting nonsense.
How will they call the new inflation and how are they going to pin this on not Trump. Curious how this is going to play out.
Pretty sure everyone was told this before the election.
Problem:
"Harris outperformed Biden’s 2020 numbers among white voters with college degrees. Meanwhile, exit polling from NBC News gave Republicans a 9-point gain with voters who never attended college."
Thing is, basic economics is a high school subject, except:
"Sir, when am I going to have to know how tariffs work in the real world?"
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Oh, I thought he was fixing inflation!
Wow, what a shocker! Who could have predicted how that turned out?
So nice of them to say this after the orange fuck was elected. Heaven forbid they tell their customers that when their customers could actually do something about it.
What incentive do they have to tell people that ahead of time? Instead of propping up the prices by 10% to deal with the tariff they can increase it by 20% and pocket the extra, then blame it on China. Worked during the Covid inflation, why wouldn't it work now?
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Everything he will do contributes to anger, division and the collapse of the United States.
People will be angry but angry at the wrong people. No, let's not be angry at the guy for actively destroying everyone's lives. Let's be angry at blacks. Or gay people. Or transgenders. Or police. Or scientists.
Fucking dumb Americans.
The I voted for him for cheaper eggs crowd are about to call this fake news.
Nobody here is surprised.
Yeah, I mean I knew that, you knew that, Americans are so uneducated that the majority had no idea how basic economics work.
Well FAFO, we're all going to learn the hard way I guess.
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There are two bright sides to this (and dark sides as well):
-This will decrease demand of Chinese goods in the U.S., hurting a country that is ... problematic to say the least. (Anyone remember the Uyghurs? The O.G. Gazens?) It probably won't shift demand back to the U.S. factories, but maybe it is time for another country to become the slave-labor-ish manufacturing capital of the world.
-When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed. I just hope this wasn't the plan all along and those "fake" inflation hikes back after covid weren't to cover for the real ones down the road.
Trump will get blamed
Ha, ha, ha, he will blame Biden, or immigrants, and his moron supporters will believe him just like they have when he lied the other thousands of times.
When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed.
i really hope you’re right, but i think that will most likely get blamed on biden “ruining the economy” in his last term, or something in that vein. a lot of trump voters get their news from fox news or directly from donald trump, and i can’t imagine either of those sources criticizing trumps economic policies.
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Trump will get blamed
Oh honey...
When the prices skyrocket, along with food from all the missing immigrant farm hands, Trump will get blamed.
In all likelihood, only a small percentage of his voters will actually blame him for the predictable consequences of his tariffs. The rest of them will believe Trump when he blames it on Biden's economic policies that were put in place before Trump's second term. Our egos have a funny way of making us do mental gymnastics to avoid having to accept the idea of oneself being wrong.
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Gonna be real neat watching Republicans turn on corporate America and accusing them of price gouging when (for once) they're not.
They won't. Blame the last administration, rinse and repeat.
Trump almost has it. If he can just be a slightly bigger ass on a slightly bigger stage, then he'll be happy.
Musn't give up too soon.
Folks, listen closely, okay? Nobody understands tariffs better than me. Believe me, they’re tremendous, tremendous tariffs. And now Walmart – yes, Walmart, great company, big stores, huge – they’re telling you that YOU, the great American people, will be paying for these tariffs. And you know what? That’s fantastic news. Incredible. Let me tell you why.
First, it’s about sacrifice. The greatest country in the world doesn’t rise without its amazing, hardworking patriots chipping in a little bit more. And trust me, when you pay a little extra at Walmart for your cheap, uh, Made-in-China toasters, you’re not just buying a toaster. You’re buying FREEDOM, folks. You’re sticking it to the Chinese economy. No one else could get that deal done, okay? Only me.
Second, we’re BUILDING here, okay? When American families dig a little deeper into their pockets, that’s money going back into our economy. It’s like… MAGA economics, so smart you wouldn’t believe it. All of a sudden, Americans will say, "Hey, why am I buying Chinese stuff? Let’s buy American!" And BOOM – jobs. Factories humming. Steel, coal, maybe even wood, I don’t know. Beautiful stuff.
Third, let’s talk winning. When we pay these tariffs – our tariffs – we’re showing the world who’s boss. China thinks they’re so smart. So clever. Well, joke’s on them. We’re so good at tariffs, we’re making YOU pay them instead of them. Genius move, right? They won’t even know what hit them. Tremendous strategy. They’re probably shaking in Beijing.
And look, folks, I hear you. “But sir, sir, what about the prices?” And I say this: are you willing to pay a little more at Walmart to make America the GREATEST it’s ever been? I think you are. And if you’re not, then maybe you like China too much. Sad!
So remember, every time you spend a little extra at Walmart – and it’s a GREAT store, by the way, I love it, fantastic – just think of it as making a donation to America. To freedom. To ME – your favorite president – who is bringing the best tariffs, the best deals, and the best America you’ve ever seen.
God bless tariffs. God bless Walmart. And God bless the United States of America. MAGA!
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No shit.
Don't worry, at least Americans are, on average, in possession of endless piles of extra money after the last decade. Elon says it's time for all of us to tighten our belts. We're just so fat with all that money we've all been saving!
I'm so glad he and the other rich chucklefucks trickled so hard on us.
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