US Administration announces 34% tariffs on China, 20% on EU • Hacker News Board

Re: US Administration announces 34% tariffs on China, 20% on EU

#91

Post by belter » Thu, Apr 03, 2025, 1:00 AM UTC

ggm wrote: post #87

I think a lot of people assume the economic consequences like these have not been understood by the WH. Although I don't like this administration I beg to differ: they know what's going to happen, and they expect the coming storm because they seek what follows. They want to repudiate foreign held debt, or devalue it, by revaluation of the USD and they will wear what they think of as a one time economic shock to get t…

You have seen nothing yet. Next he will want a mineral deal with each country to pay back the money they stole from the USA in the past. "Primate Behavior Reference 21": https://youtu.be/GhxqIITtTtU

Re: US Administration announces 34% tariffs on China, 20% on EU

#92

Post by mcoliver » Thu, Apr 03, 2025, 1:10 AM UTC

Here's a csv and google sheet of the data. Turns out they aren't tariffs countries charge us. They are trade imbalance percentages. Unreal:

https://docs.google.com/spreadsheets/d/1xK0OQ5VGl8JHmDSIgbXh...

https://gist.github.com/mcoliver/69fe48d03c12388e29cc0cd87eb...

Re: US Administration announces 34% tariffs on China, 20% on EU

#93

Post by jckrichabdkejdb » Thu, Apr 03, 2025, 1:31 AM UTC

ggm wrote: post #87

I think a lot of people assume the economic consequences like these have not been understood by the WH. Although I don't like this administration I beg to differ: they know what's going to happen, and they expect the coming storm because they seek what follows. They want to repudiate foreign held debt, or devalue it, by revaluation of the USD and they will wear what they think of as a one time economic shock to get t…

[dead]

Re: US Administration announces 34% tariffs on China, 20% on EU

#94

Post by TheJoeMan » Thu, Apr 03, 2025, 1:32 AM UTC

hnburnsy wrote: post #56

The exemptions... >Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that ar…

I thought the tariff goal was also to fix the issue with Pharmaceuticals where the R&D happened in the US, the company then “exported” the IP to the EU factories, and now import the drugs back. This results in a US tax rate of 0%.

Re: US Administration announces 34% tariffs on China, 20% on EU

#95

Post by danny_codes » Thu, Apr 03, 2025, 1:40 AM UTC

mcoliver wrote: post #92

Here's a csv and google sheet of the data. Turns out they aren't tariffs countries charge us. They are trade imbalance percentages. Unreal: https://docs.google.com/spreadsheets/d/1xK0OQ5VGl8JHmDSIgbXh... https://gist.github.com/mcoliver/69fe48d03c12388e29cc0cd87eb...

lol when I saw him hold up his piece of cardboard I thought, “yeah that’s definitely random numbers he invented 2 hours ago”

Re: US Administration announces 34% tariffs on China, 20% on EU

#96

Post by tootie » Thu, Apr 03, 2025, 2:35 AM UTC

ggm wrote: post #87

I think a lot of people assume the economic consequences like these have not been understood by the WH. Although I don't like this administration I beg to differ: they know what's going to happen, and they expect the coming storm because they seek what follows. They want to repudiate foreign held debt, or devalue it, by revaluation of the USD and they will wear what they think of as a one time economic shock to get t…

I have never caught even the slightest whiff of Trump knowing what he's doing on any topic. I'm genuinely not trying to be glib either, this is a sincere observation. When has he publicly or privately intimated that he understands how tariffs or trade work? Or energy or immigration or infrastructure or technology? His public persona gives facile and misleading explanations that are ostensibly just politicking, but every tidbit of leaked insider accounts or hot mics or unguarded moments don't show anything more than the same persona.

Re: US Administration announces 34% tariffs on China, 20% on EU

#97

Post by tootie » Thu, Apr 03, 2025, 2:37 AM UTC

Karupan wrote: post #39

Genuine questions: why are they calling it “reciprocal”? Is the US just matching the tariffs set by the other countries? Also, this announcement has wiped out any plans of buying tech products this year, plus a holiday to the US and Canada later in the year. Good thing too, as the entire globe is probably staring down the barrel of a recession.

It's just spin. The new duties are purely punitive.

Re: US Administration announces 34% tariffs on China, 20% on EU

#98

Post by tootie » Thu, Apr 03, 2025, 2:39 AM UTC

iteratethis wrote: post #75

This won't bring home manufacturing but let's say that it will... The US doesn't have the people to do the actual manufacturing. I saw a video recently explaining how sectors like the military, construction and the automotive industry each have 100K+ positions that they are unable to fill. A return to manufacturing adds to that shortage. Apparently there's some 7 million young men of working age that are...missing in…

The best option would be to close the gap with immigration but alas...

Re: US Administration announces 34% tariffs on China, 20% on EU

#99

Post by tootie » Thu, Apr 03, 2025, 2:40 AM UTC

vFunct wrote: post #15

Trump really thinks America is in the 1950's. He thinks people want to work at factories doing manual labor. He doesn't understand that we DON'T want to work at factories. Americans like our plush corporate office jobs building intellectual property. We aren't oxen doing physical labor. And we designed it that way. We pay thousands of dollars to each citizen in our public schools to teach them calculus, literature, w…

He has repeatedly invoked the 1890s actually. Big fan of McKinley.

Re: US Administration announces 34% tariffs on China, 20% on EU

#100

Post by iJohnDoe » Thu, Apr 03, 2025, 3:27 AM UTC

0x_rs wrote: post #22

Inheriting a strong economy beating all expectations that was just about to end its fight with inflation and burning it all away in a pump and dump crypto scheme fashion, while doing nothing (or even working to expand) unprecedented wealth inequality. Good luck, going to need it. The world reserve currency status is faltering, and so will the benefits it allowed US economy.

Agree with everything you wrote.

It’s almost like Trump and his administration are trying to purposely hurt America.

I don’t want to be melodramatic, but if Russia had a ultra long-term plan to hurt America, it might look like this.