Trump Pledges 25% Tariffs on Mexico, Canada and 10% on China

[u/Peteostro]

https://www.wsj.com/politics/policy/trump-pledges-tariffs-on-mexico-canada-and-china-3c62b1f7

[u/bit-by-a-moose]

30% is conservative.

We've seen corporations with record profits EVEN during the pandemic. Why? Because they raise prices just because they can. Global pandemic, oops prices going up. Most importantly, public blaming Dems for inflation? "Yeah, that's why we are raising the prices"

Tariffs are going to give corporations an opening to raise prices even more. Over and above what would be considered reasonable. And then the economic downturn will as well. It is a domino chain and every fallen one is an opportunity to raise prices.

Biden of course will get the blame first. Residual effects from Bidenomics. Maybe they'll eventually move blame to "China is charging too much for their products." (oh the irony there) but yeah, the corporations and trump will never receive the blame.

[u/GammaFan → u/bit-by-a-moose]

I hate how accurate this is because it has forced me to grapple with the reality that TFG or his handlers are actually proposing tariffs not as some dumbshit concept of a plan but specifically for the reasons you’ve stated.

Fuck, it’s a genuinely good smokescreen for price hikes that an uninformed populace will never even notice.

Fuck.

[u/jkman61494 → u/bit-by-a-moose]

The ONLY possibility is these prices will be so seismic with the addition of millions of layoffs going that consumer spending power is gonna take a major hit. People are gonna have to spend more on groceries versus a new TV.

That's when things could get juicy of corporations going to Trump saying uhhh, we're losing money because of you

[u/darkmafia666 → u/jkman61494]

It's this exact thing that I'm thinking will be the only thing that saves us from economic destruction. The corporations getting pissed that they are losing money because the lower cast cannot afford their products.

[u/bit-by-a-moose → u/jkman61494]

Yeah. My scenario only includes a portion of the incoming situation. Include the deportation of millions of people, the substantial impact that is going to have on food production, the closing of government services, the influx of unemployed from that, and the double whammy of them not having any unemployment benefits because those offices were shutdown, it is bleak.

Of course it isn't going to matter much if we're not going to have enough food to eat. Or afford.

[u/Zerodot0 → u/bit-by-a-moose]

Nah, I think most people will blame Trump. People tend to blame whoever's in office for rising prices. MAGA diehards will blame somebody else but *insert Trump's shoot a guy story*