Trump announces tariffs ranging from 10% to 49% for dozens of countries

[froggle]

Felt like a funeral at work all week. The timing of the announcement made it clear that he was going to overshoot what was leaked/rumored.

Congrats to all the idiots who thought this man would bring down prices while promising to implement tariffs. By the summer there might be outright revolt in republican circles to remove tariff power from the executive branch. I know multiple Chamber Of Commerce groups are planning on trying to make a dent in the MAGA shyt by financing republicans who run on anti-tariff platforms.

Once again this is why all that hand wringing about trannies and "dems don't have leaders" was bullshyt. This dude is fukking shyt up exactly like he did last time and it's not gonna get better. Last night democrats had a great night, and they're gonna have a REALLY good night this November during the Virginia elections (including governor). People gotta eat this L for four years tho. We could have continued with (slowly) lowering inflation and getting back to normalcy with Harris (or Biden).

what do you do breh? And what your industry looking like?

 

[Bunchy Carter]

Resident coli cacitalists @Bunchy Carter @JT-Money @Black Hans @Rick Fox at UNC

Trump is now fukking with your money, do yall still support him?

He's not fukking with my money, I sold all of my stocks in late January when they rose because historically when a new president comes into office, stocks rise then get choppy. I'm just sitting on my money and will invest in the dip and make more money.

Here is an article from MSNBC:

What the stock market typically does after the U.S. election, according to history​

Published Mon, Nov 4 20242:14 PM ESTUpdated Tue, Nov 5 202411:53 AM EST

Stocks typically rise after a presidential election, but investors need to be prepared for some short-term choppiness first, history shows.

The three major benchmarks on average have seen gains between Election Day and year-end in the presidential election year going back to 1980, according to CNBC data. However, investors should not be expecting a straight shot up in the market after polls close.

The S&P 500 after the election​

Election Date	Day After	Week After	Month Later	Year End
11/3/2020	2.20%	5.23%	8.83%	11.48%
11/8/2016	1.11%	1.91%	4.98%	4.64%
11/6/2012	-2.37%	-3.77%	-1.01%	-0.15%
11/4/2008	-5.27%	-10.62%	-15.96%	-10.19%
11/2/2004	1.12%	2.97%	5.29%	7.20%
11/7/2000	-1.58%	-3.42%	-6.17%	-7.79%
11/5/1996	1.46%	2.16%	4.23%	3.72%
11/3/1992	-0.67%	-0.31%	2.38%	3.76%
11/8/1988	-0.66%	-2.48%	0.52%	0.93%
11/6/1984	-0.73%	-2.61%	-4.49%	-1.86%
11/4/1980	2.12%	1.72%	5.77%	5.21%
Average	-0.30%	-0.84%	0.40%	1.54%
Median	-0.66%	-0.31%	2.38%	3.72%

The Dow after the election​

Election Date	Day After	Week After	Month Later	Year End
11/3/2020	1.34%	7.06%	9.06%	11.38%
11/8/2016	1.40%	3.22%	6.99%	7.80%
11/6/2012	-2.36%	-3.70%	-1.30%	-1.07%
11/4/2008	-5.05%	-9.68%	-12.98%	-8.82%
11/2/2004	1.01%	3.49%	5.47%	7.45%
11/7/2000	-0.41%	-2.48%	-3.06%	-1.51%
11/5/1996	1.59%	3.04%	5.85%	6.04%
11/3/1992	-0.91%	-0.83%	0.74%	1.50%
11/8/1988	-0.43%	-2.37%	0.67%	1.93%
11/6/1984	-0.88%	-3.02%	-5.92%	-2.62%
11/4/1980	1.70%	0.73%	3.55%	2.86%
Average	-0.27%	-0.41%	0.83%	2.27%
Median	-0.41%	-0.83%	0.74%	1.93%

The Nasdaq Composite after the election​

Election Day	Day After	Week After	Month Later	Year End
11/3/2020	3.85%	3.52%	10.90%	15.48%
11/8/2016	1.11%	1.58%	4.31%	3.65%
11/6/2012	-2.48%	-4.25%	-0.75%	0.25%
11/4/2008	-5.53%	-11.19%	-18.79%	-11.41%
11/2/2004	0.98%	2.95%	8.00%	9.61%
11/7/2000	-5.39%	-8.12%	-19.41%	-27.67%
11/5/1996	1.34%	2.23%	5.78%	5.04%
11/3/1992	0.16%	3.83%	8.56%	11.97%
11/8/1988	-0.29%	-1.77%	-0.96%	0.67%
11/6/1984	-0.32%	-1.08%	-4.58%	-1.27%
11/4/1980	1.49%	0.97%	6.75%	4.76%
Average	-0.46%	-1.03%	-0.02%	1.01%
Median	0.16%	0.97%	4.31%	3.65%

Via: https://www.cnbc.com/2024/11/04/wha...ter-the-us-election-according-to-history.html

 

[chineebai]

I really miss the Biden days where my portfolio went up 20% by literally doing nothing.

 

[Breh13]

 

[Outlaw]

if you think you can time the market perfectly, then wait it out

i learned from my mistakes during covid. i didnt buy enough, then i kept waiting for it to crash again, and it didn't

i'll be buying on the way down, and wait out the ride back up. tax cuts coming at the end of the year, and powell is gonna be forced to cut rates pretty soon

Look how long it took for the market to recover after the dot com bust or the Great Recession. Covid was different. If you’re not worried about market timing then sure the market may be able to eclipse all time highs in a decade if things go south

 

[Piff Perkins]

what do you do breh? And what your industry looking like?

Finance/accounting firm. Not looking good fellas. Also...the prices aren't gonna come down in x months or years when Trump or someone else reverses these policies. This is going to do so much harm to companies they're going to keep their prices high to avoid wipeout...and then once they recover guess what. They'll argue the market has adopted the new prices so why lower unless someone undercuts us. We saw that at the end of last year. Inflation rate kept going down but general prices (groceries, cars, clothes, etc) didn't really drop enough for people to notice. This shyt is being baked into our economy and will remain for the long term.

I don't see how a new president can fix this in 2028.

 

[Piff Perkins]

Actual economists are not working on this. This is being driven by political amateurs. The type of people who copy/paste from Wikipedia.

 

[Cloutius Maximus]

plz no tariffs on Indonesia

price of the kratom brick goin up

 

[chineebai]

They put less thought into this than your average analyst. It's like a few columns in excel, they literally took the trade deficit from each country and divided it by 2, it's nuts. You might as well pick a number out a hat.

 

[BK The Great]

The bloodbath is already happening in the futures market

They already said we’re headed to a recession by 2nd quarter, we’re on time it seems

 

[MegaManX]

I'm not an economist and this is why this topic is dangerous/easy to manipulate. On the surface the sell is "you charge me tarrifs so I will change you back", to common people they will say they seems fair

yeah trump is an absolute retard. He doesn't even understand what the tariffs are.

All countries have SPECIFIC product tariffs. Hell, we got a global tariff on sugar so we can protect the candy companies in the US.

No one cares because its a specific product the country wants to keep domestic.

universal tariffs are dangerous because they are basically a sanction.

Most countries in the world do not participate in universal tariffs. This guy is a complete unhinged loser.

 

[Samori Toure]

Trump has already managed to make people look back fondly on the Presidency of George W. Bush. Now Agent Orange has his sights set on the legacy of Herbert Hoover.

 

[MegaManX]

US Stuff is expensive as hell in these other countries due to tariffs. I was at the mall and wanted to cop a cheap hoodie in another country that prob retails for 100-120 USD and they were charging 500 USD

no one guys anything but luxury US products outside the US.

US is the worst common item producer in the world. Our labor is expensive and our currency is one of the most expensive in the world.

 

[RickyGQ]

He wants to destroy the net worth of regular people. If people can't afford to make their rent payments, they'll take a second or third job and will work for less money. He wants the average American worker to be as poor as someone from Bangladesh, Mexico, or Malaysia which are becoming manufacturing hubs as china's population ages, shrinks, and needs higher wages.

If it's cheaper to manufacture in America than a place like China, he hopes America will become the new China and become the Hotspot for making cheap products for the rest of the world.

He'll create the conditions that cause people to crash out and commit crimes, jail those people then use them as unpaid labor. It's part of the reason he's trying to destroy constitutional rights around due process, fair trials, illegal search and seizure etc. The goal is to make it so that the ACCUSATION is enough to jail someone. Remember slavery IS LEGAL in America under the 13th ammendment. When most of the population is desperately poor and will work for any amount of money to survive and the rest are imprisoned, that makes America a desirable place for imports.

If he cripples the buying power of the average American and weakens the dollar as more countries exchange their dollars for something else, then it will reduce the demand for other country's products because people here literally won't be able to afford them and the dollar will be a cheaper currency than something like the euro or yuan.

He and his team can have such a stupid idea because they fear no consequences. Nobody has actually checked them so they have no reason to believe the public would ever do anything, especially since you'll have people posting even HERE who don't understand that this man WANTS most Americans to be poor. He wants America to slide into developing nation status while the net worth of the few rich people here explodes through corporate consolidation, asset speculation, and foreign investment. America has shown its too p*ssy to stand up to a fascist even when he's telling them to their faces what he's going to do so what reason would he ever have to believe that they'll do anything to fight back from the overwhelming misery his policies will create for anyone who has less than a million dollar net worth?

Saw this play years ago. The pandemic scared the shyt out of corporations when people weren’t coming back to work so they had to increase pay.

 

[Apollo Creed]

yeah trump is an absolute retard. He doesn't even understand what the tariffs are.

All countries have SPECIFIC product tariffs. Hell, we got a global tariff on sugar so we can protect the candy companies in the US.

No one cares because its a specific product the country wants to keep domestic.

universal tariffs are dangerous because they are basically a sanction.

Most countries in the world do not participate in universal tariffs. This guy is a complete unhinged loser.

yeah this is why I say this is a dangerous convo because Tarrifs are complex but spoken on "Casually" so the common person can get on board.