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

bnew

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More Chaos: Trump Admin Signals New Tariffs on Electronics From China After Pause​


On Friday, the administration announced an exemption for smartphones, computers, and other devices, but this weekend White House officials say more tariffs on those goods are coming

April 13, 2025

More Chaos: Trump Admin Signals New Tariffs on Electronics from China After Pause


Donald Trump looks on during a cabinet meeting in the Cabinet Room of the White House on April 10, 2025, in Washington, DC. Brendan Smialowski/Getty Images

The Trump administration had announced tariffs on products from China only to walk back that decision on Friday, issuing an exemption from astronomical 145 percent reciprocal tariffs for smartphones, computers, semiconductors, and other electronic devices — although other tariffs would still apply.

But on Sunday, the administration had senior White House trade adviser Peter Navarro and Commerce Sec. Howard Lutnick on NBC’s Meet the Press and ABC’s This Week, respectively. Both only added to the confusion around the issue.

Lutnick said that the technology exemption was only put in place temporarily until the administration can write a new policy for those goods.

“Those products are going to be part of the semiconductor sectoral tariffs which are coming,” Lutnick told host Jonathan Karl. “So, you’re going to see this week there will be a register in the federal registry. There will be a notice put out.”

Lutnick added that semiconductors and pharmaceutical imports from China are “going to have a special focus-type of tariff to make sure that those products get reshored,” adding that those tariffs “are coming in probably a month or two.”

“Our medicines and our semiconductors need to be built in America. Donald Trump is on it. He’s calling that out,” Lutnick said. “So, you should understand these are included in the semiconductor tariffs that are coming and the pharmaceuticals are coming.”

Experts have warned that forcing a company like Apple to manufacture iPhones in America could come at a very steep cost, potentially doubling the cost of manufacturing the device, according to Bank of America analysts led by Wamsi Mohan. The cost of labor alone could increase 25 percent, they said. Another analyst, Wedbush’s Dan Ives, estimated that an iPhone made in the U.S.A. could cost $3,500 — nearly tripling the retail price. Apple currently manufactures more than 80 percent of its products in China.

“It’s pie in the sky,” Jeff Fieldhack, research director at Counterpoint Research, told CNBC of an American-made iPhone.

More confusingly, Navarro insisted that the exemptions for electronics from reciprocal tariffs the White House announced on Friday are “not exclusions” to Trump’s tariff policy.

“The policy is no exemptions, no exclusions,” Navarro told Meet the Press moderator Kristen Welker.

“Even the White House called it an exclusion,” Welker pointed out.

Despite the chaos and apparent flip-flopping, Navarro claimed the tariffs are “unfolding exactly like we thought it would in a dominant scenario.” (Anticipating the tariffs going into effect, the markets dipped, which Trump Treasury Sec. Scott Bessent, a multimillionaire, said was “healthy.” When the tariffs first began, the stock market plunged further and still hasn’t fully recovered. Trump has claimed the crash was intentional.)

Democrats meanwhile have been heavily critical of the administration’s tariffs and their effect on the markets.

“There is no tariff policy,” Sen. Elizabeth Warren said Sunday on ABC. “It’s all just chaos and corruption. That’s all we have going on. And how can you believe any of these guys?”

She continued by advocating for Congress to intervene: “These guys are into chaos and into corruption, and this is the reason it is time for Congress to step up and to say, under the authority that the president is currently using by declaring these national emergencies, ‘No.’ The law says specifically Congress can just say, there’s no national emergency across the board here, and revoke that authority from the president.”

Warren said that the courts could step in to stop Trump but that Congress should not wait for that because it has the power to intervene. “Every Democrat is ready to go, to push back and take away from the president the power he’s now exercising and the chaos he’s now creating,” she said.

“The question is whether or not the Republicans will join us in this,” she continued. Trump’s extreme approach to tariffs has Republicans scrambling to defend and make sense of the president’s aggressive strategy.

“There will be a vote in about 15 days,” Warren said. “The Republicans can either decide that their entire job is to do nothing but bow down to Donald Trump, or the Republicans in Congress can say that their job is to stand up for the American people and to stand up for the American economy and roll back what Donald Trump is doing.”

Warren also pressed the Securities and Exchange Commission to conduct a “sweeping review of all securities trades” to investigate whether federal officials, including Trump, violated insider trading laws.

“It’s entirely appropriate to have an investigation to make sure that Donald Trump, Donald Trump’s family, Donald Trump’s inner circle didn’t get advance information and trade on that information,” Warren said. She also mentioned legislation she introduced to block members of Congress from insider training.

“The American people should never have to wonder, when the president, when his Cabinet, when members of Congress are making a decision, whether it’s for the good of the country or for the good of their own bank account,” she said.

Three of four Americans polled by CBS News/YouGov said they believe Trump’s tariffs and trade policies will benefit the wealthy and increase prices in the short term, while 71 percent said that large corporations will benefit.
 

bnew

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[Discussion] My post on China nuking the bond market hit 4.8M views. Mods deleted it with no reason. Here’s why that should terrify you. (Enhanced with ChatGPT & Sources)



Posted on Sun Apr 13, 2025, 02:51:27 AM UTC

/r/WallStreetbetsELITE/comments/1jxxzo0/my_post_on_china_nuking_the_bond_market_hit_48m/

Disclaimer:

I enlisted ChatGPT to help organize my thoughts and structure them so that they aren't so schizophernic. The message remains unchanged—just refined for clarity. Enjoy the EM dashes.

Alright degenerates, gather ‘round. This is the post-mortem for the analysis the mods couldn’t handle.

21.5k upvotes. 4.8 million views. 3.3k comments. 7.5k shares. 4 awards.

Then? Deleted. No rule cited. No DM. No “tone it down.” Just gone. Why?

Because I said what the markets won’t:

The Fed blinked. China and Canada are holding the detonator. And the U.S. Treasury market—the holy grail of global finance—isn’t bulletproof anymore.

Let’s recap:

  • Japan started quietly dumping Treasuries. Data from Japan's Ministry of Finance indicates that Japanese investors were net sellers of foreign bonds in the week ending April 5, 2025, marking a significant shift in their investment behavior. www.fxstreet.com
  • China responded to tariffs by not escalating—a silence that screamed “we’re ready.” China's measured response to the U.S. tariffs suggests strategic positioning rather than immediate retaliation. www.theguardian.com
  • Japan, South Korea, and China began coordinating trade and financial policy. Reports indicate that these nations have engaged in discussions to align their economic strategies in response to U.S. trade policies. www.reuters.com
  • Canada issued a $3.5B USD bond, signaled reserve repositioning, and quietly hinted at coordinated selling. Mark Carney didn’t even have to raise his voice—just moved a piece on the board and let the pressure rise. www.snopes.com/
  • Bond yields exploded. Liquidity evaporated. The yield on the 30-year U.S. Treasury bond briefly surpassed 5%, reaching levels not seen since late 2023, signaling a significant drop in demand. www.theguardian.com
  • The Fed muttered, “we’ll stabilize markets if needed.” This statement indicates the Federal Reserve's readiness to intervene in the markets to maintain stability amid the volatility. www.theaustralian.com.au

All of this points to one thing:

This is no longer about interest rates or inflation. This is a trust war.

And trust—not tanks—is what backs the U.S. dollar.

Here’s what I didn’t get to post:

The infrastructure broke.

The system cracked under the pressure.

According to Risk.net, over $2 trillion in U.S. Treasuries were traded per day during the height of the tariff fallout—double the average daily volume. www.risk.net (Paywalled)

FIS and Trading Technologies—core post-trade platforms used by major brokerages—experienced significant processing delays due to the unprecedented trade volumes.

This wasn’t Reddit lagging under upvotes. This was the clearing layer of the bond market going offline.

That’s the nightmare:

A liquidity shock colliding with a back-office failure.

It creates a bottleneck that spirals into margin calls, repo freezes, counterparty chaos, and then—

maybe—an actual market halt.

And what happened right after?

A surprise tariff exemption.

Which brings me to the biggest tell of all: the walkback.

Trump spent days imposing 125% tariffs. Then suddenly:

He backs off. Quietly. Subtly. A pause. A delay. A face-saving half-reversal.

content.govdelivery.com

Why?

Because the bond market screamed.

Because Japan’s selling worked.

Because the Treasury floor buckled—and the White House blinked.

That tariff exemption validates everything:

  • If the tariffs were effective, there would be no need to flinch.
  • If China, Japan, or others weren’t leveraging their holdings, there’d be no fear.
  • If the Treasury market wasn’t exposed, the Fed wouldn’t have signaled intervention.

This was a geopolitical stress test—and the U.S. didn’t pass.

It limped across the finish line.

So what now?

This is the foundation under your economy catching fire.

And the Fed just checked the beams and heard them hollow.

If you missed the original post, I’ve reuploaded it onto my profile An idiot's Reddit profile.

If you’re a mod, just admit it rattled you. Don’t pretend it was “low effort” or “off-topic.”

You know exactly what this was.

If I’m wrong? Great. I’m an idiot with a flair for drama.

But if I’m right?

I'll reiterate

Tick.

fukking.

Tock.

Edit:

To save me responding to all the "braindead/CCP cope/OP is an idiot" comments:

Cool, go buy calls about it then.

Also, for everyone else:

Don't take me at face value, try and prove me wrong, then invest based on how well you feel you did.

Addendum: Consumer Credit Collapse

As u/couchsurfinggonepro rightly highlighted, I still managed to leave out a key point: the high risk of credit default at the consumer level.

Despite the tribal noise in politics, here’s the truth:
Most people are financially exhausted.

COVID didn’t just disrupt—it indebted. And while the headlines talk about jobs and inflation, the only real debate in Washington was: who gets bailed out and how?

Trump’s “solution” is now playing out. And what it will unleash is:

-Mass unemployment

-Mortgage defaults

-Credit card delinquencies

-Student loan defaults

-Personal bankruptcies

There is a bubble in personal consumer debt

Addendum 2: Margin Calls and Domestic Liquidity Fragility

u/im_a_squishy_ai built on the analysis above, it’s not just foreign selling that's stressing the bond market—the domestic side is breaking too.

Margin calls started going out to hedge funds on the first Thursday and Friday of the selloff. These weren’t triggered by any deep fundamental devaluation of equities—they were triggered simply because valuations reverted to a historical norm.

Stocks fell to 15–20x forward earnings—which is textbook fair value. That’s not a crash. That’s a mean reversion.

And yet, it triggered margin calls.

That tells us something:
Hedge funds are so over-leveraged that even a return to normal valuations creates a liquidity crisis. There is no buffer. There is no margin for error. No resilience.

This means this is another bubble—plain and simple. A structurally fragile one.

As the real economy begins to absorb job losses, business failures, declining earnings, and reduced consumer demand—all natural consequences of the tariff and credit tightening cycle—those margin calls are going to accelerate.

The market has already shown its hand:

Just normalizing destabilizes it.

But we’re not heading for normal. We’re heading for a deterioration.
And that means the next wave of selling won’t be orderly—it’ll be forced. Liquidations. Defaults. Fire sales.

Addendum 3: The Commercial Real Estate Time Bomb

u/Pietes highlighted another structural fault line we need to talk about, commercial real estate—and specifically the overvaluation and fragility of REITs.

Most commercial real estate isn’t bought outright. It’s acquired using loan-like financing structures, often leveraged against stock-based collateral or a fragile web of interconnected property portfolios. It’s a Jenga tower of credit assumptions—and all it takes is one piece to wobble.

REITs (Real Estate Investment Trusts) are the largest holders of both commercial and residential real estate in the U.S. They are heavily dependent on valuation stability and rental yield expectations—both of which are at risk in the current macro environment.

In a scenario of rising rates, job losses, and liquidity-driven asset fire sales, REITs become amplifiers of systemic risk.

If the market faces renewed margin calls, and REIT valuations slip even modestly, their leverage unwinds

If property vacancies rise from business closures or consumer retrenchment, their cash flows evaporate

And if broader financial players start selling REITs or their underlying mortgage-backed assets to meet liquidity demands, we’re looking at contagion across multiple sectors

In short: REITs are sitting on illiquid assets funded by borrowed optimism.
In a liquidity crunch, optimism is the first thing to vanish.

Addendum 4 : The Domestic Bank Run

As per u/Boobpocket on my original post:
https://www.reddit.com/r/WallStreetbetsELITE/s/2LMdR3Z3AQ

The recent policy move to freeze immigrant bank accounts is a potential flashpoint—and one that could blindside the financial system.

If even a fraction of the 15+ million account holders rush to withdraw their funds in fear of asset seizure or financial isolation, it could trigger a silent bank run.

This isn’t a regional bank failure or a crypto contagion. This is distributed, fragmented, and unpredictable—across every major bank and financial institution in the country.

You’re talking about:

Mass withdrawals

Liquidity pressures

Forced reserve drawdowns

Potential failures of smaller or mid-tier institutions

And a surge in cash hoarding and offshore transfers that destabilizes confidence in retail banking itself

It doesn’t matter whether the policy gets enforced.
The fear alone, the signal it sends can do the damage.
 

bnew

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1/11
@RichardHanania
One sign that American elites are honorable is that no mainstream economists are standing up and saying they support Trump's policies.

Batya and Oren Cass are on Fox all day because they're willing to make fools of themselves. But if you're an economics professor at Michigan or Princeton or whatever, all you would have to do is defend Trump's policies and you would cash in. This is why Peter Navarro is in the position he's in. To be pro-Trump is the most extreme form of affirmative action there is.

MAGA would love to have mainstream credibility. You could be on Fox every day. Crank out a book and get it promoted on all right wing talk radio and social media accounts. Probably a government job.

Instead, it's only Batya and Oren everywhere.

This indicates that economists have too much decency and integrity for this grift. It's remarkable how few people sell out given how easy it is to ride the MAGA wave towards money and power.



2/11
@RichardHanania
There are right wing and left wing economists. They all get the basic idea that central planning doesn’t work. The Humble Capitalist



3/11
@Langerhans_isle
Dave Navarro has put his reputation on the line. (I think that's the one.)



Gocjn6EWMAAGj-O.jpg


4/11
@RyanPortland2
You raise a good point but I'm not sure an MIT professor could rise to the level of Hawk Tuah girl in MAGA. Yes, he would be hero to Fox Business but would struggle to monetize fame.



5/11
@dawallach
Elite experts should be prized. After all, we collectively bear a huge cost to produce them. I always ask the anti-expert class what they think a compelling alternative is to experts and they have no ideas. Citizen science is a cool concept but hasn’t actually yielded much value.



6/11
@mathepi
You make a good point here.



7/11
@powerfultakes
You too deserve some recognition for not selling out Richard.



8/11
@joelcardwellX
Well now you know someone will take you up on the challenge.

It’s only a matter of time.

Greed, after all, is good.



9/11
@paulmidler
There tends to an orthodoxy in economics, at least in regards to certain ideas



10/11
@doobydoobadooby
Eh, I think it's much less that they're honourable, and much more that they value the respect of academia more than millions of dollars. If there was a chance for an economist to totally sell out their honour, but be loved by academics for it, at least a couple would sell out



11/11
@SpaceXNews
Economists stand on business




To post tweets in this format, more info here: https://www.thecoli.com/threads/tips-and-tricks-for-posting-the-coli-megathread.984734/post-52211196
 

Gloxina

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China is doing a very slow victory lap. Things like this are being released and shared for a reason.



White Americans still don’t know what is going on.

I remember like 10-15yrs ago the not-so-funny big joke was that everyone needed to learn Mandarin.

We’re going to understand why sooner than later.
 

JT-Money

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Even the products actually made in Italy or France or the US employ Chinese workers. It takes skills to make high end products. A lot of those skills are no longer taught.
But the Chinese have been making knockoffs like this for decades already. It probably wasn't too hard for them to make the real thing. They pretty much reverse engineer every product in the West to undercut them.
 

ORDER_66

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some guy just told me american cant copy the chinese cars with the same technology. i was like :mjlol: dude where do you think china gets their ideas from?!? aint shyt original.
 

Secure Da Bag

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some guy just told me american cant copy the chinese cars with the same technology. i was like :mjlol: dude where do you think china gets their ideas from?!? aint shyt original.
The US can copy. But their version will be 105k base and the Chinese version will be 45k all options. And they both will run and maintain the same.


:francis:
 

3rdWorld

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Like I told @Gloxina in her thread, they just trying to break the economy so the corporations can get their status quo back. :francis:

He's upending it, so he can hand it to his billionaire boys club..
Trump wants nations to be weak so they grovel and kneel before him, so he can undercut them when the US already enjoy higher benefits in a deal.
He needs to keep it up, the world benefits actually.
 
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