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Trump temporarily drops tariffs to 10% for most countries

cnbc.com

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Re: Trump temporarily drops tariffs to 10% for most countries

#741

Post by etcet »

mort96 wrote: post #638
karim79 wrote: post #559

Is anyone sure this is not stock manipulation? Honest question.

The president told his Truth Social followers that it's a great time to buy stock just a few hours before this announcement: https://truthsocial.com/@realDonaldTrump/posts/1143082727259... It's probably many things, but one part of it is for sure stock manipulation.

This is wild.

8:37AM "THIS IS A GREAT TIME TO BUY!!! DJT"

12:18PM "I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!"

Re: Trump temporarily drops tariffs to 10% for most countries

#742

Post by y04nn »

karim79 wrote: post #559

Is anyone sure this is not stock manipulation? Honest question.

Indeed, the 90 days delay leaked in the morning before being denied and at the end of the day there was the official announcement. So some people new before the official announcement and shared the information.

Re: Trump temporarily drops tariffs to 10% for most countries

#743

Post by stevage »

hello_computer wrote: post #342
Animats wrote: post #315

Possibly because lawsuits challenging the power of the President to impose tariffs under the Emergency Economic Powers Act are underway.[1] GOP support for Congress taking back control of tariffs is building.[2] At some point, Congress or the courts will take his toys away. [1] https://www.newsweek.com/trump-tariffs-hit-lawsuit-group-his... [2] https://thehill.com/homenews/senate/5236142-congress-tariff-...

Seems kinda crazy that so much power was ever vested in the president. https://www.congress.gov/crs-product/R48435

It's interesting to see it as an answer to the question, how long does it take to turn a well regulated democracy with a powerless head of state into an autocracy.

Re: Trump temporarily drops tariffs to 10% for most countries

#744

Post by MrMember »

Animats wrote: post #531
hello_computer wrote: post #342

Earlier quoted context omitted.

Seems kinda crazy that so much power was ever vested in the president. https://www.congress.gov/crs-product/R48435

How to handle emergency authority in a democracy has been a hard problem back to the Roman Empire. Read up on Roman dictators.[1] [1] https://en.wikipedia.org/wiki/Roman_dictator

Roman dictators have always fascinated me. It worked (for a while at least) because both sides agreed it was necessary and temporary. The people who appointed the dictator knew extreme measures were needed to navigate them through some crisis. The dictator knew if they tried to hold on to power longer than was necessary they would simply be removed or killed, their supreme power only extended through the crisis in which they were needed.

Re: Trump temporarily drops tariffs to 10% for most countries

#745

Post by cma »

peeters wrote: post #506
SoyAnto wrote: post #411

Earlier quoted context omitted.

Congress does have the power (article I, section 8), however it delegated this power to the president for "extraordinary" situations with certain laws.

"Extraordinary", such as a fictional fentanyl emergency at the northern border (despite the fact that a trivial amount of fentanyl enters the U.S. from Canada, and more enters Canada from the U.S.). Of course, you have Congress to keep the President in check that these are real emergencies. Which is why the House will definitely be bringing S.J.Res. 37 to the floor, right? Because it's their sworn duty to act as a ch…

He first announced tariffs on China over fentanyl something like 2 or 3 days after pardoning the biggest heroin by mail operator in world history (Ross Ulbricht).

Re: Trump temporarily drops tariffs to 10% for most countries

#746

Post by torlok »

BJones12 wrote: post #438
0x5f3759df-i wrote: post #13

Earlier quoted context omitted.

Like if the president had posted that “now is a great time to buy DJT” 15 minutes before announcing the pause?

Regardless of whatever happened today, it's never a good time to buy $DJT because 1) it's not profitable and 2) holders are slowly continually liquidating in a complicated manner explained by past Money Stuff articles.

The actual quote is "THIS IS A GREAT TIME TO BUY!!! DJT", which makes DJT either a signature and a call to buy the market if he can form a valid sentence, or a call to buy NASDAQ:DJT if he can't form a valid sentence. Take your pick. It's market manipulation either way.

Re: Trump temporarily drops tariffs to 10% for most countries

#747

Post by ilamont »

antognini wrote: post #558
Animats wrote: post #315

Possibly because lawsuits challenging the power of the President to impose tariffs under the Emergency Economic Powers Act are underway.[1] GOP support for Congress taking back control of tariffs is building.[2] At some point, Congress or the courts will take his toys away. [1] https://www.newsweek.com/trump-tariffs-hit-lawsuit-group-his... [2] https://thehill.com/homenews/senate/5236142-congress-tariff-...

I've seen relatively little discussion about these lawsuits, but I do think there is a pretty good chance that SCOTUS will rule these tariffs unconstitutional. (It's certainly more likely than Congress rescinding the powers they've ceded to the presidency.) Constitutionally, the power to set tariffs resides with the Legislative branch, not the Executive branch. Congress has delegated some authority to set tariffs und…

> I do think there is a pretty good chance that SCOTUS will rule these tariffs unconstitutional.

Unlikely. SCOTUS is cowed, as shown by the latest batch of rulings (https://www.npr.org/2025/04/08/nx-s1-5351799/scotus-probatio...). They want to avoid his ire, and interference.

Possibly, they are saving dry powder for a bigger fight.

Re: Trump temporarily drops tariffs to 10% for most countries

#748

Post by anigbrowl »

magicreadu wrote: post #579
matt-p wrote: post #554

Earlier quoted context omitted.

Also china has 125% tarriff but the reason that they couldn't originally give 10% to Vietnam was trans-shipment of Chinese goods. If it wasn't happening before, it certainly will be now. What's actually wrong with them.

The reason they have reduced all tariffs back down to 10% even for the countries that were obviously transshipping (Vietnam, Myanmar, Thailand, Cambodia) is that they need time to negotiate with those countries, to make sure these countries now put similarly high tariffs (100%+) on China, so that transshipping is reduced to nothing

That's like saying China's strategy is to get Ecuador and El Salvador to inflict high tariffs on the USA.

Re: Trump temporarily drops tariffs to 10% for most countries

#749

Post by kenjackson »

magicloop wrote: post #397

"It’s the T-bills wot dun it." That’s my read on why the U.S. just paused the global tariff hike to 10%. From the beginning, I’ve believed the executive branch's real goal was to push down the yield on the 10-year Treasury. Why? Because Uncle Sam has to refinance a mountain of debt this year, and the cost of that depends heavily on Treasury yields — especially the 10-year. That’s the rate that sets the tone for every…

"From the beginning, I’ve believed the executive branch's real goal was to push down the yield on the 10-year Treasury. Why?"

None of leaked conversations or prior discussions indicate anything like this. Peter Navarro has no even slightly nuanced agenda. He's been on record for years about this. I think their position was much more that they'd drive foreign tariffs down and would be able to make other demands against other countries, and they underestimated the tolerance even their base would have.

Re: Trump temporarily drops tariffs to 10% for most countries

#750

Post by matt-p »

baq wrote: post #654
gsanderson wrote: post #524

Earlier quoted context omitted.

Donald is weak. He was always going to fold. Once China and the EU called his bluff and retaliated, he was done. Lasted less than 24 hours.

The tariffs that he kept on would be nothing to sneeze at in more… civilized times. The market overreacted, as was priced in the vix at 50+. We are not out of the woods yet.

125% tariff rate on your biggest importer isn't something I'd say is "nothing to sneeze at" personally. Particularly when the expert economist used to justify it is made up.
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