Past “agreements” made by progressive wackos that hate our country and let us be taken advantage are subject to renegotiation and are over with, buddy.
No more free rides for Canada, Mexico, China and the European nations. Its America first, so just get used to it, pay your tariffs and start worrying about how your pathetic woke country will ever make its comeback.
It’s been a day and a half. Now we get to see what happens.
As I understand it, Trumpism operates on the belief that the US economy drives the world and everyone else has been taking advantage of them and it has to stop. There’s some truth to the idea that the US economy drives the world. As of 2023, the United States’ economy accounts for approximately 25.95% of the global economy in nominal terms, with a GDP of $27.36 trillion. The EU is at 17.4%. China is at 19%.
China and the EU have a debt to GDP of about 80%. The US stands at over 120%, which I don’t find disastrous. Canada is at 74% (even with our commie universal health and welfare programs) and Japan sits at 263%, so the US is in the middle somewhere and debt is not likely to crush their economy. I do expect Trump tax cuts to result in huge deficits that will take that up to perhaps 200%, but time will tell.
If the US puts tariffs up in front of their economy, other countries will obviously retaliate and there will be a trade war. This will lead to higher prices in the US but not necessarily in Canada or the EU, as it is unlikely we will match the US tariffs on other countries. So the US will tariff Canadian and EU goods along with Chinese and Vietnamese goods, Canada and the EU will tariff US goods but not Chinese or Vietnamese goods. I can’t see any outcome other than the US ending up more inefficient.
Trump will, of course, cut taxes on the rich. Internally, there will be a much bigger divide between rich and poor in the US, already at the highest level since the depression. Health care, already by far the most expensive and inefficient in the world, will suffer. The poor will get poorer. The rich will get richer.
US cities already look like shit and smell like piss. I expect that will worsen as programs for the poor are cut further. Elon promises to cut $2 trillion from the budget. Third world, you’re going to need to make room for one more country joining your ranks.
Immigration will be cut drastically. Honestly, I think that is good for the world. This industry of Latinos going to the US illegally should stop. Let them build up their own nations so that people don’t want to go anywhere. I don’t know what that will do for the US, though. American-born kids don’t want to do hard work. I’m not sure who’s going to do hard work, now. Perhaps Elon’s robots. Seriously.
Trump may have both houses and the Supreme Court behind him. He can do what he wants, now. I am so very grateful I live in Canada.
I’m not sure I understand your question, but I think you are asking if the importer pays the tariff when they sell. The answer is no. They pay when it clears customs.
That’s probably a good thing. The buyer will want to know the price and the importer will know better how much it has to charge.
It’s going to irritate Americans to see something cost 20% more in the US than it does in other countries. Then again, health care has been far more than 20% more expensive in the US and most Americans accept it.
Imagine Trump replaced obamacare with single payer just to take credit for something. He wouldn’t have to tell his followers it’s socialism. The legislature wouldn’t go for it though.
I am interested to see if RFK gets a cabinet spot. I could see that either way. Trump could have just told him that but not really meant it.
I no longer hold out hope for the US. It appears over half of Americans want to stand there clutching their Bibles, guns and Constitutions as their nation burns. So be it. I have no say.