The Real timschochet

It’s not even debatable! Lol

“Second handers” is a phrase from The Fountainhead, not Atlas Shrugged, gb.

We also don’t know who came to the table, what they’re offering (if anything), and what will benefit us. So it’s wise to wait and see. But a question: if the point of the tariffs was to create pressure in order to get other nations to agree to new deals, then why relieve the pressure before any deals are done or even negotiated? That’s a little mystifying to me.

I think this is wise. If trade deals are negotiated to our benefit (meaning lower tariffs on all sides) I will happily congratulate President Trump. Let’s see what actually happens. Leaving the tariffs in place would have been a catastrophe. The China tariffs, as they stand at this moment, will be a catastrophe. But- 10% across the board tariffs are bad in themselves. It’s not good for our economy to have a 10% tax on all imports. It’s stupid.

Unless Trump caves on China too we will still have a recession. But I think he will cave. (He’ll call it a victory.)

The complaints are the only thing that got Trump to cave. And there were no overreactions. If anything, the threat to our economy was understated.

Don’t forget Marshall Petain.

Turns out the biggest Panican of all was Donald Trump himself! For which I am grateful…

I’m optimistic about this too. Surrendering on the tariffs is a good start. Now if we make a deal with China prices should start to come down.

I’m convinced that there’s going to be some kind of deal coming with China, or at the very least a de-escalation. China is our third largest trading partner. Too much money is on the line. In a week, possibly two, possibly less…this will be resolved. I’m much more optimistic than I was this morning. Somebody smart got into Trump’s ear, told him he had to cave, and he did.

Hopefully the 90 day pause becomes a permanent pause.

Trump would make such a great World War II French general wouldn’t he? Marshall Petain would be envious. Anyhow, good stuff!

Dow up 2200 points

I’ll take it.

So he just surrendered on the tariffs thankfully- except for China. Don’t know where that goes. Should be good for the Dow though.

Trump raising tariffs on China to 125%. 90 day pause on all other tariffs!!

So what? Perhaps you can explain what nobody else has managed to do: why exactly is a trade deficit bad for us?

I’m actually going to try and help you out here. It’s not my posts that annoy people; it’s your incessant, meaningless responses to them. if you think my posts are worth ignoring, then by all means ignore them. If you think they’re wrong then feel free to disagree, offer a rebuttal or counter argument. But this constant “nobody cares”, along with personal insults offers nothing of value. If you’re trying to make me feel bad, I assure you it doesn’t. It’s just annoying.

Trump: pharmaceutical tariffs coming next: https://www.bbc.com/news/articles/cedyylj1v32o.amp

Some of us have complained about tariffs for years. My own view on this issue was shaped in college when I read Milton Friedman. It was further defined by a 1993 televised debate on the Larry King show between H. Ross Perot and Al Gore. Gore took the side of free trade and capitalism, and I found him compelling. I have always held the position that we should have no tariffs in this country no matter what other nations do. That being said your question is based on a misunderstanding of Trump’s tariffs: you assume they are reciprocal. They aren’t. In many cases we have in the last week placed tariffs on countries who don’t have any on us. In other cases we have placed tariffs far exceeding those placed on us. So you’re simply wrong.

To answer your question, I think it will be far worse. Of course I hope I’m wrong.

The way most news outlets are presenting this, there are two guys competing for Trump’s ear right now: Scott Bessant represents Wall Street, Musk, the billionaire “globalist” group, and he’s trying to convince Trump to agree to new trade deals that would result in lower tariffs on all sides. This is the sort of result @Strikeand @Engorgeous George are anticipating, and it would be wonderful. It would very likely send the stock market back up, lead us to economic prosperity and be a political victory for Trump. It still wouldn’t resolve China but it might be enough to proclaim this a win. But the other guy is Peter Navarro. An anti-globalist conspiracy theorist with views somewhat similar to @Frozenbeernuts here (though without the anti-Semitism) he wants to reshape the world economy, and believes honestly that permanent high tariffs are the way to achieve this. He doesn’t want any deals that would end this confrontation; he wants the confrontation. He’s been saying this for 20 years. Wall Street is praying that ultimately Trump ignores Navarro and listens to Bessant. So am I. We’ll see.

This is is a good point. But you and @Strike and many others continue to assume that the ultimate result of these actions will be trade deals in which tariffs are lower than they are now. I hope you’re right about this. But it flies in this face of Trump’s repeated statements that he is doing this not to bring about better trade deals but instead to return manufacturing back to the USA. It also doesn’t solve China. If these tariffs hold up we are basically cutting off trade with China. Bad for them for sure but also very bad for us. There is no way our economy won’t be severely hurt by that no matter what other trade deals are achieved.

It wasn’t. Millions died. We had no choice but to shut things down. Thankfully we developed a vaccine quickly (Trump deserves some of the credit for that) and recovered. But then many people refused to take the vaccine and thousands more died. Thats what happened. Anything else is historical revisionism.

104% tax on all items imported from China. 84% tax on all items imported to China. We’re talking about 500 billion dollars of trade a year between our two countries. Short term interest rates are spiking as investors are dumping their treasury bonds. Now nearly every economist is predicting a recession, whereas nobody predicted one a month ago. Oil prices are going down, but that’s hardly a good sign: it means recession.