Trump's Tariffs Wipe Out over $6T on Wall Street in Epic Two-Day Rout

Post by Jtsummers » Sat, Apr 05, 2025, 1:39 AM UTC

bdelmas wrote: post #32

lreeves wrote: post #10

You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…

I think that those in command are also waiting for the next President to undo all that but it is going to have a tremendous effect for a decade or more. Hopefully for the US they won't go in a similar crisis like the UK is going through... Cutting off countries like Japan or Taiwan like that when we know their geopolitical situation with China and how critical their economy is to the US is quite crazy.

Post by trhway » Sat, Apr 05, 2025, 1:39 AM UTC

lreeves wrote: post #10

You know the craziest thing about watching this as an outsider in Canada is that we as a nation are losing one reliable trading partner (and obviously losing an ally but that's another conversation). Germany - losing a trade partner. Japan? And so on. But the US has lost 180 reliable trading partners. You're already seeing in the first week burgeoning trade alliances between nations who wouldn't have cooperated befor…

Post by percentcer » Sat, Apr 05, 2025, 1:39 AM UTC

sebmellen wrote: post #196

Majromax wrote: post #92

Earlier quoted context omitted.

I know that a quotation is not necessarily an endorsement, but this is a fantastically short-sighted idea. > it becomes increasingly burdensome for the United States to finance the provision of reserve assets How dare countries want pictures of dead Presidents so badly that... they're willing to send real goods to the United States for its consumption, with no expectation of reciprocation. > and the defense umbrella…

You’re right about all you say. But the US has struggled to implement even the simplest forms of industrial policy because other countries are so extremely price-competitive, and our markets so unbridled, that our “elites” have eroded our industrial base to drive shareholder returns. If not through tariffs, how else do you force reindustrialization? Industrial policy will always fail if it’s driven by a chimeric poli…

Post by JackYoustra » Sat, Apr 05, 2025, 1:40 AM UTC

mightyham wrote: post #93

beloch wrote: post #8

This is an inherently political subject, but I would appreciate a dispassionate argument explaining how this could be even remotely good for the U.S.'s economy in a way that is light on MAGA ideology and doesn't simply claim the overwhelming majority of economists are dumb. I'm simply not seeing even a glimmer of a possible upside right now. I see even less possibility of an upside for those of us North of the border…

It is strategically beneficial, for trade agreements, diplomatic leverage and in international conflicts, for a nation to have a strong industrial base, in other words an economy that creates and exports actual physical goods. Tariffs level the playing field in our own consumer economy for American made goods, because without them American manufacturing is competing with countries where labor is absurdly cheap.

Post by nimos » Sat, Apr 05, 2025, 1:41 AM UTC

victor106 wrote: post #167

nimos wrote: post #102

Earlier quoted context omitted.

Almost all the trade deficit numbers being thrown around by the US administration don't include trade in services which the US generally has a large surplus. A lot of that is very high margin tech SASS/advertising. If this continues it seems like this could be a "digg->reddit" type moment for US tech. In some ways it is easier for a lot of people to leave facebook than it is for a single person. If you look at gross…

>Almost all the trade deficit numbers being thrown around by the US administration don't include trade in services which the US generally has a large surplus. Then why don’t other countries tax US services? I don’t even hear this from anyone in the media too