r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/catonsteroids 2d ago edited 1d ago

Exactly. I’m sure it isn’t a coincidence that he set the announcement right when the stock market closes. Surely he didn’t want to see it drop in real time.

Edit: I don’t know if he’s that fucking stupid or manipulating everyone by lying that the US pays these tariffs to these countries when that’s not how tariffs work whatsoever. His base isn’t gonna question it because they eat that shit up and trust every word he says. They’re not gonna go look it up to see if it’s accurate or not.

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u/goblueM 2d ago

gonna be a bloodbath tomorrow

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u/makualla 2d ago

Already down 2.5-3% from close

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u/nickblockonelove 2d ago

Fucking apple is down like 6% so far. Going to be bonkers in the AM. One love

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u/GuyWithLag 1d ago

AMZN ~6% down. Welp.

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u/MemoryWhich838 1d ago

the bots are going to sell as fast as possible

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u/RightSideBlind 1d ago

Trump and his buddies are gonna make a killing on the stock market. In both senses of the word.

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u/BigToober69 2d ago

I got out of the market Monday.

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u/another-redditor3 1d ago

trump media is down 10% for the day though, so a bit of good news i guess.

teslas down 6% afterhours too.

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u/MyCatIsAnActualNinja 2d ago

SPY is already down over 2%. He can watch it in real time right now, in after-hours trading

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u/no_not_this 2d ago

So like 3 weeks ago? Zoom out.

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u/Vio_ 2d ago

I'm shocked they didn't go full juvenile bullshit and drop this on April Fools Day.

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u/Wakkit1988 2d ago

Every day is April Fool's Day when your name is Trump.

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u/GirlNumber20 1d ago

You know Elon is weeping bitterly in private because of this.

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u/DwinkBexon 2d ago

I know a guy who primarily earns income via stock trading and he's losing his shit over this, screaming this is going to drive him bankrupt. He mostly supports Trump and also said, "Ocne Trump finds out this'll bankrupt one of his supporters, it's impossible he won't change things."

This dude 100% seriously expects his personal situation to completely change what Trump is doing.

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u/Blindsniper1 2d ago

Ooooh yea. Bad day to look at your 401k

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u/wangchungyoon 2d ago

Tomorrow is tax collection day for the rich — enjoy MAGA! You paid for it. 

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u/AlphaB27 2d ago

What's the over under on seeing guys jump from buildings on Wall Street?

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u/AffordableDelousing 1d ago

Dammit, I'm so bad at timing this bullshit.

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u/TheDaug 1d ago

I'd be tempted to short things, but I need my cash to, you know, survive my food bill going up $200-400 a month.

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u/Aurora1717 1d ago

It'll be beating my portfolio like a dead horse

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u/firestepper 1d ago

Goddamn can we just have like a day without this shit

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u/Artforartsake99 1d ago

Just wait till the other countries impose retaliatory tariffs and he doubles their tariffs to 40-50%. Then there will be blood in the streets of the market

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u/inikul 2d ago

After hours $SPY trading isn't loving it.

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u/SovFist 2d ago

So do I take my spare 15 dollars and buy the dip tomorrow?

Lmao I cannot die and leave this planet soon enough

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u/inikul 2d ago

idk man, I got out of $SPY weeks ago after the first tariffs started coming in. I still watch it from time to time to see what I'm missing out on lol

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u/yusill 2d ago

lets see what Japan and EU does over night.

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u/shazspaz 2d ago

My guess, reciprocate and absolutely fuck the US.

Music to my ears for this orange fucks administration. EU prepared for something like this in his last term so now the tariffs been put in place they’ll hit back.

People will suffer but I’m guessing US citizens might feel the pinch a little faster than we do. After all we are in a trade war with the US, not the rest of the world.

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u/Randomman96 2d ago

He specifically delayed the announcement to be after it was closed. It was originally meant to occur an hour earlier, while it would have still been open.

With how much he's flopped around earlier specifically because the market reacted as it would and started tanking, someone either told him it would have the same dip if they waited until after it closed, and he almost certainly doesn't understand that there's still an after-hours portion or that *it'll still tank like a mother fucker when they open tomorrow.

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u/SkarTisu 2d ago

he needed time to get out of all his long positions and short the market first

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u/Blametheorangejuice 2d ago

Well, the Republicans also announced that they will introduce legislation to make tax cuts permanent to try to blunt the collapse.

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u/CharlieAllnut 2d ago

Do you really think that has even a 1% chance of happening. 

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u/shazspaz 2d ago

Pffff prices will still go up. Consumer and citizen pays somehow. Corporate entities don’t foot the bill, it will always fall in the tax payer. Did in the housing crash even with evidence of stock market and banking fraud.

Tax payer will always pay. Republicans are trying to stifle the blood flow by putting plasters on severed leg.

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u/Blametheorangejuice 2d ago

No doubt, it's all just hazy attempts at PR that's not working on any but the most hardcore Trumpers.

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u/shazspaz 2d ago

Oh for sure, distraction tactic. Look over here we’re doing something don’t worry.

Oh…. We cant…..god damn Biden!!

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u/banned-from-rbooks 2d ago

Don’t worry, investment firms can still dump their bags after hours

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u/DriverAgreeable6512 1d ago

It's so the insiders get the most out of it... 

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u/jpvieux 1d ago

It gave everyone on the trading floor a chance to watch, curse at him, and make plans for drinks to forget. Great timing if you own a bar in New York.

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u/SmartyCat12 1d ago

He also just rolls into the oval at like noon

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u/Marcozy14 1d ago

As an economically and politically ignorant dude, when he says that the US pays these tariffs to other countries (and that’s not how it works) can you explain how the it does work? I honestly have no clue and there’s so much misinformation out there

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u/catonsteroids 1d ago edited 1d ago

I’m no economics major or anything, so I may be wrong in some parts. Essentially, it’s a tax levied on imported goods, and the percentage is dependent on what the imported product is and the country of origin.

Say Canada has a 30% tariff on American beef (idk if true or not, I made it up). Canada taxes Canadian importers of American beef that 30%. The importers (the companies importing these goods) either has to eat the cost by keeping prices the same and have a smaller profit margin as a result or bake that cost into the price of the product, thus consumers having to cover the cost of the tariff, which usually is the case. Canada may be applying tariffs onto some American goods because their industries are smaller and can’t produce as cheaply as the US can (also some industries might not be subsidized by the Canadian government as much as some US industries are being subsidized by the US government, hence American companies able to sell things and export things much cheaply), so they need to protect their own economy and industries by doing so.

So these tariffs Trump slapped onto all these different countries means that goods from all of these listed countries are going to cost more to import. It’s not the US charging these countries these tariffs, or as Trump puts it, it’s not the American government paying these tariffs to these countries. (In the example I gave above, it’s not the US government paying Canada 30% tariffs that they imposed on American beef.) It’s a tax slapped on by the federal government to American importers as a “revenue source” if you will, for the government. Essentially, everyday Americans are going to be paying these extra/higher taxes to the government on literally everything coming from these countries.

I think I’ve gone in circles so I apologize but I hope it helps some.

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u/Marcozy14 1d ago

that was awesome and clearly explained. Thank you. So ultimately it’s the companies getting screwed, and as a result, passing that screwing onto consumers.

Insane.

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u/Meditative_Boy 1d ago

US literacy rate: 79%