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
Well, the far-right courts made that illegal for publicly-traded companies, so, no.
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.
And then there’s the ensuing trade war that always happens, with the countries retaliating with their own tariffs to the US. Tariffs are a lose-lose scenario, just like they were in 2019.
And they want to kill the CHIPS act, which was going to build some of that local supply.
IMO that’s the height of economic policy stupidity because if/when Taiwan gets invaded, China will own nearly all semiconductor manufacturing outside of the highest end fab houses such as Intel or GlobalFoundries. The future of domestic manufacturing is high tech or specialty like Corning glassworks or L3-Harris, even car manufacturers get beat out by imports with our current tariff structure
And beyond that, it will incentivize further automation rather than more blue collar jobs.
More like generations IMO
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.
That is exactly what US steel did in response to the steel tariffs back in Trump round one.
I think we know
I think you guys know.
I don’t think that guy over there knows.
I think we all know except for him too!
Haha number go up again
Uff the country that loves to buy temu crap is forced to buy american crap
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?”
You had econ in HS? Mine had it but it was only an elective.
I don’t think mine even had it as an elective. We were too busy spending 2 years of history classes learning how nice the Pilgrims were to the natives. And this was in Massachusetts, which I believe ranks #1 in education in the US.
#1 in education.
And also the only state in the country where every precinct voted for Harris.
Surely that must be a coincidence, right?
Basic economics was not a required class in my high school. Macro and Micro Economics were both electives.
tariffs, trade wars, and their effects surely were covered, or at least touched on, in a history class or two.
Hmm maybe my highschool was far below average then
I was the idiot who though skipping school to partake in smoking weed was the better outcome of studying at school, although I do partially blame being bullied at school for me avoiding it.
‘I love the poorly educated’, donald j trump, feb 2016.
A simple google search would have many credible sources giving the answer to what tarrifs are.
But to the magats, only fox news has the truth.
I bet a big portion of that 9% shops at Walmart.
Would been smart for Wally’s bottom line to maybe tell their customers about this before the fucking election.
They don’t care. The owners of Walmart are some of the richest people in the world. So like all rich people they just figure they’ll hike prices and people will still pay (and they’ll have to, because Walmart tends to drive all its competitors out of town).
They do not care, and the Waltons probably like Trump. They’ve got their money already. Waltons don’t care about America; they’ve been in bed with China since Sam died & they’ve been gobbling up the excessive profits for years. Cheap Chinese goods for low-ish American prices.
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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.
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.
Well, we just were told that nearly all economic indicators pointing to a good economy was not “really” good because people just weren’t feeling it. Even if things were actually better. Sure, not everyone is invested in stocks, so that’s not really saying much and people don’t really see how things like GDP are going to help them make ends meet. Understood. But nearly everything was turned around, or turning around, under Biden.
Still not good enough - the Democrats apparently did nothing for the price of eggs so voting for donvict was going to make things “better”, even if they really won’t. And now a whole lot of dipshits are saying everything is better, even though donvict is not in office yet. WTAF.
/facepalm
It’s even simpler than that, it’s people being told what to think.
I think “people” speaking very generally used to not read a ton of news, heard stuff from the grapevine, and so on. “Elites” and news junkies had somewhat more monolithic sources.
And that’s not true anymore. Nearly every “average” person’s life is now dominated by a personalized feed, a podcast, TV, radio, chatroom, whatever, and it’s having an outsized influence compared to their observations of reality now.
It’s my belief that there’s basically nothing Biden could have done to alter this (other than regulating algorithms, and it’s far too late) and ultimately it’s the DNC’s fault for “taking the high road” and not playing the propaganda game.
just like mexico paid for his ‘wall’
That wall probably bought him a lot of renovations at Mara Lago.
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.
If companies are going to suck consumers dry just because they can, they’d better put Republican’s name on it.
Are you kidding ? This is absolutely going to be blamed on Biden, loudly and repeatedly.
I know I know, Walmart is in the GOP’s pocket. But if the DNC knows what’s good for them they’ll take any scraps they have from Harris 2024 and painting the entire Republican movement as lovers of raising prices on Americans.
They won’t.
Yes, but don’t worry. Elon and Trump will be FINE. Stop worrying, everyone!
Wonder who they who are they gonna blame then?
What are you talking about? It’ll all be Biden’s fault.
It will be blamed on Obama’s missing long form birth certificate and the bulge in Michelle’s skirt. Hillary’s true remark on the deplorables. Kamala’s cackle. Biden’s age.
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.
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.
Funny that we both posted the same concern at the same time.
i’m glad that we both realized that 17 minutes ago was the perfect time to post that comment
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.
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.
Trump will get blamed
Like they blamed him for his COVID-19 response?
If that didn’t get through… honestly, I have no idea what would. Americans are just stuck in their feeds and divorced from reality now.
The OG Gazans
Oh my you must be in your early 20s…
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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.
China will pay for the tariffs in the same way Mexico paid for the wall.
Realistically it will shift more work to India, vietnam, mexico. I’m not in supply, but I’m pretty sure my company has started shifting out of china in prep for this.
Didn’t part of the wall fall over into Mexico a while back?
I feel like no one bothered to campaign against Trump… until… AFTER he won
The I voted for him for cheaper eggs crowd are about to call this fake news.
It’d be kinda ironic if eggs were about the only thing that didn’t rocket up in price…
Duuuh. Did they really think the company would just eat the additional costs? What a bunch of maroons.
They thought the exporting country/company would pay for it.
and without raising the price they sell it at. which is just many millions of sad examples of how ‘effective’ the republicants war on public education has been.
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.
And fuck those of us who already knew the lesson. Its like school but without getting to go home at the end of the day. And just like school, the kids who need it probably wont pay attention
I have a trick to get others to pay it for me:
buys that external drive I’ve been putting off for a while
Meanwhile, in Canada, I’ve been meaning to build a raid 6 with 4TB drives. With any luck, as imports into your country drop, prices in my country will drop as well
I was planning my first build in 7 years for around 6 months from now. I just CANT right now.
I just upgraded my GPU even though I wanted to wait until the new stuff drops, but I can’t risk getting boned by tariffs and/or scalpers.
I’m sitting here waiting for black Friday deals on lifep04 batteries for my solar setup. Fuck knows those are going to double in price when ding dong gets his hands on the levers.
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