Trump's 104% tariffs on China to take effect at midnight, quashing earlier market gains
(www.cbc.ca)
from RandAlThor@lemmy.ca to world@lemmy.world on 08 Apr 2025 21:42
https://lemmy.ca/post/41987899
from RandAlThor@lemmy.ca to world@lemmy.world on 08 Apr 2025 21:42
https://lemmy.ca/post/41987899
#world
threaded - newest
After this last week I’ll be working until I’m ninety-five.
I’ve been so focused on my stocks that i haven’t even bothered to check my 401k yet. I don’t think I want to know.
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Mines -12% YTD. At least I’m not retiring anytime soon.
Aw, c’mon, without Medicare, vaccines, and with RFK, Jr medical protocols, you’ll be dead LONG before that.
Stitching Nike’s.
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Ngl, I did NOT have “rooting for the CCP” on my bingo card
Crazy, right? I mean, Xi is a massive piece of shit, but at least he has the ability to think and consider before acting.
One of the vanishingly few benefits of not being a democracy, is that the people just can’t just vote in an idiot. Of course, there are other avenues for an idiot to take over an authoritarian government (historically, usually by war or inheritance).
They’ll throw in a little Taiwan invasion for shits and giggles and fuck us on semiconductors too. And they’ll succeed, because Trump won’t lift a finger to defend Taiwan
104%?
Is this the fucking Onion?!
No, it’s the fucking orange shitstain… 🍊💩
It’s crazy,
But Trump is probably stupider than what the Onion was able to imagine!
I read today that one of his secretaries said that China had miscalculated, because China exports roughly four times as much to the U.S. as the U.S. imports to China, and he said that that makes the U.S. a lot stronger than China, that it would give the U.S. a better bargaining position.
That’s like a wealthy family in a small town saying they can outlast the grocery store if the grocery store decides to stop selling food to you.
I mean, good luck with that…
The 4% is what really sends me. I understand it’s just coming from their new nonsensical 34% tariffs but just…you’re already doubling the cost wtf is the point of the extra 4%? Just go for a flashy round 100%, they can’t even be evil right!
Chat gpt said 104%, you’re gone get 104%
It should be on !nottheonion@lemmy.world
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This is Trumps America shooting themselves in the foot with a cruise missile.
Nah, he’s run out of feet to shoot - next shot is aimed for the groin.
I do wish we could fast forward to the part where he Hitlers himself in a bunker.
Luckily USA imports very little from China, so most people won’t even notice.
/s
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Trump needs to go. How does this fast food and amphetamine monster keep limping along?
He has to be fueled by hate and spite and maybe drugs. I can say a thousand bad things about him but he sure does have a lot of energy.
Republican support. That’s how.
I meant his heart, his liver, his physical health.
When the UK had a Prime Minister stupid enough to tank the economy like this, she was gone before you could eat a lettuce. But she only hurt her own country’s economy, while Trump is doing worldwide damage. The USA needs to step up and get rid of this hopeless leader.
The U.K.'s democracy is, unfortunately, several times more competently constructed than the U.S. democracy. Lizz Truss could be removed because there were avenues put in place to legally remove her from her position, there are no such avenues in the U.S. Here, the only way a sitting president can retire is via gunshot.
Our vote of no confidence is impeachment. Same problem in regards to the party selecting the party leader in the UK. You actually have to have MPs/senators that actually agree.
And what exactly are the consequences of impeachment?
It removes a sitting president without a gunshot?
Trump was already impeached twice. He was not removed from office. Try again.
🙄
there are other more unconventional methods. a sharp metal sword, a rope,etc.
Until I see an impeachment actually result in the removal of a president, I don’t seriously believe it is a viable method. Trump has been impeached twice so far with no consequences, so forgive me for having zero confidence in the third time being the charm.
At this point the only way it’d be possible is if one party controlled both chambers of congress. The current MAGA bunch would impeach and convict the next dem president for putting ketchup on their hotdog before mustard.
Also Fox News was a direct response to Nixon so it would never happen again to a GOP president. They won.
He “learned his lesson” so he was allowed to stay in office. He learned his lesson alright. He learned he can do whatever he wants because the federal government is overrun with traitors.
Yeah the problem isn’t in our government structure, in this case, but in the republican cult of personality.
It sucks but the Republicans won a very narrow victory in the house senate and president. No matter what system you have, if it’s at all democratic that party makes all the decisions. The problem is there making the decision to standby and watch as a demented oaf flushes the country down the toilet
Yeah, our “checks and balances” were designed poorly. The religious reverence placed on the constitution stopped it from evolving to be better. It needs a revamp on a major scale.
Sounds like America needs forced to have some democracy
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A fresh steaming cup or liber-tea!
Blood transfusions from young donors.
I wish I was sure that was false.
I have a theory that evil people tend to live longer because they aren’t weighed down by empathy.
That’s a bingo. Empathy causes stress.
How does this work from an implementation perspective? Is there a field on whatever software that does import taxes that they can tweak? Or is it just backdated from the date of import, based on the invoice?
With that question alone you’ve already put more thought into this than the person declaring these brain-dead tariffs.
It’s not hard to put more thought into anything than most people.
Ain’t that the sad truth.
The sadder truth is that most of us are all most people.
Most people didn’t need to think about this that much. It’s the ones who do need to but don’t that are the problem.
I believe they get charged when products go through customs. If you want them to get to the US side of the ‘gate’, the importer pays the tariff. One inputs the country of origin, the product category, and the product value, and out pops the required charge.
Probably will have some delays as the software get updated, and I wouldn’t be surprised if a bunch of Chinese goods get re-routed through Vietnam or other countries with lower import tariffs.
I hope >100% wasn’t tested and breaks the software
Do you have an idea of how the value is discerned? For example, what’s to stop someone from putting things on a boat and saying they’re worth a penny?
They have to show the invoice from the supplier.
Yes, where the importer is also the manufacturer (such as cars), the factory can sell at a loss and make up the difference onshore. However, then their tax liability is greater. What they usually do is sell via a tax haven, the importer is based in Barbados, pays their supplier below cost, and the onshore distributor then pays the importer more than they sell for, so they make a “loss” for tax purposes. Tax is only liable on profits.
That does get audited - customs officials do have a look at a lot, and frequently check products against stated claims.
At least this is my experience with my own company’s cross border business - labeling, valuation, documentation of sales and invoices, etc, all matter. We’ve had shipments to the US stopped and held before over what you’d consider minor issues with labeling or newer guys at the ship desk leaving i’s undotted or t’s uncrossed. I’ve had some panicked calls about costing and valuation documentation in big shipments. There were some loopholes to a few rules, but they were small and because these tariffs apply to pretty much everything from any given country, I have a hard time imagining there would be major work arounds for this.
Smaller drop-shippers with more discreet packaging might be able to get away with reducing their numbers - or at least rolling the dice on not getting checked - but for large commercial shipments, absolutely not.
trump hit Vietnam with a 46% tariff, so lower than China currently, but still a huge hit.
I was planning on buying a pair of sneakers within the next couple of months. When these tariffs hit, I knew I needed to buy them right now while shelves are still stocked with pre-tariff merchandise. My (popular) brand of shoes are made in Vietnam (46% tariff) and Laos (58%) tariff.
Many popular brands of shoes are made in these two countries so you also may want to do the same.
Most likely they’ll just have is “assembled” (put in a box) in Mexico.
India has 300% tariff on Chinese goods. Everything is still made in China there. US auto workers make $40 an hour, a Chinese autoworker makes $100 a week. Yes there are robots, but they have to be maintained. The difference is the costs of fitters in the US and China is even greater.
There might be a few edge cases where it is cheaper to make in the US ; food processing for example, where the sale price is low and transport is a large proportion, or highly automated things, like making plastic bags or injected moulded stuff like those garden chairs or plastic tanks.
The things that are cheaper to make in the US were already made in the US.
Because of the high cost of labor here, we tend to specialize in things where the unit cost is so high that the labor cost doesn’t matter as much and spending extra for educated and skilled workers becomes a cheaper upgrade. Things like jet engine parts, engines, and machine tools.
Also things where you make a lot of them in an automated fashion, like precision screws and nuts or refined petroleum products. We’re probably not making the plastic bags or chairs, but we would be making the giant tub of plastic beads used for the injection moulding, which is then shipped to Malaysia to be moulded, and then back to the US to be a deck chair.
The set of industries that are close enough to the line to make sense to move to the US and can be moved quickly enough for it to matter is vanishingly small.
It’s why most of our exports have been intangible for so long.
I believe it’s paid as part of clearing customs. Since everything is in some capacity inspected (even if that just means checking the weight, container seals, and serial numbers in the freight container), that means there’s some record of what’s coming in and from where. At that point the importer pays customs the various fees and taxes before customs let’s them take the goods out of the port of entry.
The importer would mark it down as part of the taxes that they paid on their purchase, but it would largely only matter so that they can appropriately indicate what portion of the purchase price was taxes that have already been paid so they don’t double pay later.
What? I had a nap and Trump decided he liked tariffs and all but that he wasn’t tariffing hard enough so now he’s gonna double the price of all Chinese goods. Oh lawd. Guess I’m waiting a few years to build my next PC.
No way. You’ll totally be able to afford to get one tariff free from those new factories that are absolutely bigly being built right now in the great state of America.
Everything should be up and running in a week or so. They just fast tracked all the tool and die makers needed to help develop the machines needed to build your next generation silicon and mother boards, and those ram chip thingies. To avoid all the tariffs from China they’re mining rare earth on mars and conveyor belted back on to America in the frunk of the swastitrucks.
It’s everything computer.
Believe in Trump, he believes in you. Or not.
Most likely not. He doesn’t care about you. He only cares about charging the government insane amounts to his golf course so he can golf while messing up his presidential diapers and getting rich off your tax dollars while wearing pants pulled up to his orange cheetos nip nips.
Say bye bye to Nintendo switch 2 pre-order. I wonder what the gamers will do? This is gonna end very bad!
I think it’s mainly Vietnam tariffs that will hit the Switch 2 (Nintendo moved manufacturing their to minimise tariffs in the first place). But they are harsh enough in their own right.
But is the product being shipped from Vietnam to the US, or just built there?
I cannot wait to see the stock markets reaction tomorrow.
About time for republicans to start voting with their wallets. In what universe does Trump think he can win waging trade war against the whole world? Plus the US economy is mostly driven by their service sector, so I think it is about time for the rest of the world to start tariffing their services and see how their economy collapses.
All Trump understands is “winning” or “losing”. He doesn’t understand negotiations. He doesn’t understand politics. It’s WIN or nothing.
If you ain’t first you’re last
Sounds like his casinos. I would like to bet against the house.
Why not a 1000% felon 47?
I mean just his administration if fine, nobody would be missed.
At this point it feels like a good epicenter blast would mak all’ my problems go away
“haha take that” - donald trump, slamming his dick in the car door
love this take
Mushroom
according to stormy, its not long enough
“Masterful gambit sir!” — MAGAts
Burning deplorian truck’s “safety trunk door” on the Whitehouse lawn.
I thlammed my penith in the car door
Those maga hats are going to be expensive
So will those blasphemous grift-bibles. (I’m gonna guess they’re still sold?)
OK. So China is going to retaliate. Because they can. It’s kind of watching a 5 card stud game, and Trump is bluffing. And everyone knows it 🤣
I don’t know if americans themselves realise that their whole life revoles about shit they buy from china. But they will soon. When the garbage from temu is suddenly expensive garbage.
I’m expert level at reusing, recycling, repurposing. I could take someone on a 2-hour tour of my house or camp, either one, two hours without repeating myself, and show them all the shit I didn’t buy new.
Some y’all about the learn how to scavenge. Or not.
BuT VidEo gAmE prIceS!!
While you’re at it, you’ll learn a whole new diet called, “Grow Your Own Calories.”
“But I can’t do that in my dense city center!”
I know. One of a hundred reasons I refused to live like that.
And fuck me. Tomorrow is my last day off for a minute and I gotta build and farm. FML.
At this point I don’t think the Chinese need to retaliate. They could just say that they will and just wait for the US to put another bullet in their foot.
104%?? Seriously? What’s next? 175% tariffs. Trump, you fucking idiot. The rest of the world doesn’t need you.
He’s going have the biggest, the greatest, the best tariffs.
they’re already screaming for 400% tariffs on china because republicans don’t give a fuck about the american people and the hurt they cause.
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