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 21:42
https://lemmy.ca/post/41987899

#world

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SatansMaggotyCumFart@lemmy.world on 08 Apr 21:46 next collapse

After this last week I’ll be working until I’m ninety-five.

fluxion@lemmy.world on 08 Apr 22:34 next collapse

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.

SatansMaggotyCumFart@lemmy.world on 08 Apr 22:36 next collapse
Bongles@lemm.ee on 09 Apr 16:42 collapse

Mines -12% YTD. At least I’m not retiring anytime soon.

barneypiccolo@lemm.ee on 09 Apr 04:46 next collapse

Aw, c’mon, without Medicare, vaccines, and with RFK, Jr medical protocols, you’ll be dead LONG before that.

10001110101@lemm.ee on 09 Apr 06:31 collapse

Stitching Nike’s.

huppakee@lemm.ee on 08 Apr 21:53 next collapse

<img alt="fictional fight" src="https://i.imgflip.com/9q4fn1.jpg">

gravitas_deficiency@sh.itjust.works on 08 Apr 22:10 next collapse

Ngl, I did NOT have “rooting for the CCP” on my bingo card

madame_gaymes@programming.dev on 08 Apr 22:48 collapse

Crazy, right? I mean, Xi is a massive piece of shit, but at least he has the ability to think and consider before acting.

vividspecter@lemm.ee on 09 Apr 00:21 collapse

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).

fluxion@lemmy.world on 08 Apr 22:33 collapse

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

[deleted] on 09 Apr 04:41 collapse
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gon@lemm.ee on 08 Apr 22:11 next collapse

104%?

Is this the fucking Onion?!

over_clox@lemmy.world on 08 Apr 22:13 next collapse

No, it’s the fucking orange shitstain… 🍊💩

Buffalox@lemmy.world on 08 Apr 22:17 next collapse

It’s crazy,
But Trump is probably stupider than what the Onion was able to imagine!

obvs@lemmy.world on 08 Apr 23:23 collapse

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

djsoren19@lemmy.blahaj.zone on 08 Apr 23:14 next collapse

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!

empireOfLove2@lemmy.dbzer0.com on 09 Apr 01:10 collapse

Chat gpt said 104%, you’re gone get 104%

hazypenguin@feddit.nl on 09 Apr 00:40 next collapse

It should be on !nottheonion@lemmy.world

getoffthedrugsdude@lemmy.ml on 09 Apr 06:18 collapse
Treczoks@lemmy.world on 08 Apr 22:16 next collapse

This is Trumps America shooting themselves in the foot with a cruise missile.

pulsewidth@lemmy.world on 09 Apr 02:17 collapse

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.

Buffalox@lemmy.world on 08 Apr 22:22 next collapse

Luckily USA imports very little from China, so most people won’t even notice.
/s

lemmie689@lemmy.sdf.org on 08 Apr 22:31 next collapse

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ToadOfHypnosis@lemm.ee on 08 Apr 22:34 next collapse

Trump needs to go. How does this fast food and amphetamine monster keep limping along?

dan1101@lemm.ee on 08 Apr 22:54 next collapse

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.

evenglow@lemmy.world on 08 Apr 22:57 next collapse

Republican support. That’s how.

ToadOfHypnosis@lemm.ee on 08 Apr 23:45 collapse

I meant his heart, his liver, his physical health.

floofloof@lemmy.ca on 08 Apr 23:11 next collapse

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.

djsoren19@lemmy.blahaj.zone on 08 Apr 23:16 collapse

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.

roguetrick@lemmy.world on 08 Apr 23:48 next collapse

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.

SpaceNoodle@lemmy.world on 08 Apr 23:59 next collapse

And what exactly are the consequences of impeachment?

roguetrick@lemmy.world on 09 Apr 00:04 collapse

It removes a sitting president without a gunshot?

SpaceNoodle@lemmy.world on 09 Apr 00:49 next collapse

Trump was already impeached twice. He was not removed from office. Try again.

[deleted] on 09 Apr 01:54 collapse
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[deleted] on 09 Apr 02:06 collapse
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[deleted] on 09 Apr 02:14 collapse
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SpaceNoodle@lemmy.world on 09 Apr 04:31 collapse

🙄

Ledericas@lemm.ee on 09 Apr 02:28 collapse

there are other more unconventional methods. a sharp metal sword, a rope,etc.

djsoren19@lemmy.blahaj.zone on 09 Apr 00:06 next collapse

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.

NotMyOldRedditName@lemmy.world on 09 Apr 01:05 next collapse

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.

i_am_not_a_robot@discuss.tchncs.de on 09 Apr 01:12 collapse

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.

Not_mikey@slrpnk.net on 09 Apr 01:24 collapse

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

ToadOfHypnosis@lemm.ee on 08 Apr 23:47 next collapse

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.

hazypenguin@feddit.nl on 09 Apr 00:50 collapse

Sounds like America needs forced to have some democracy

<img alt="" src="https://feddit.nl/pictrs/image/532ad27f-a76b-4bbc-b75c-8acf2a582729.jpeg">

[deleted] on 09 Apr 01:26 next collapse
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MonkeMischief@lemmy.today on 09 Apr 07:46 collapse

A fresh steaming cup or liber-tea!

corsicanguppy@lemmy.ca on 09 Apr 00:37 next collapse

Blood transfusions from young donors.

I wish I was sure that was false.

kn0wmad1c@programming.dev on 09 Apr 01:19 next collapse

I have a theory that evil people tend to live longer because they aren’t weighed down by empathy.

hausthatforrem@lemm.ee on 09 Apr 02:56 collapse

That’s a bingo. Empathy causes stress.

[deleted] on 09 Apr 01:24 collapse
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Semi_Hemi_Demigod@lemmy.world on 08 Apr 22:36 next collapse

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?

ptz@dubvee.org on 08 Apr 23:17 next collapse

With that question alone you’ve already put more thought into this than the person declaring these brain-dead tariffs.

Semi_Hemi_Demigod@lemmy.world on 09 Apr 00:18 collapse

It’s not hard to put more thought into anything than most people.

ptz@dubvee.org on 09 Apr 00:21 next collapse

Ain’t that the sad truth.

Semi_Hemi_Demigod@lemmy.world on 09 Apr 00:25 collapse

The sadder truth is that most of us are all most people.

atzanteol@sh.itjust.works on 09 Apr 04:39 collapse

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.

BombOmOm@lemmy.world on 08 Apr 23:22 next collapse

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.

Darkassassin07@lemmy.ca on 08 Apr 23:47 next collapse

I hope >100% wasn’t tested and breaks the software

Semi_Hemi_Demigod@lemmy.world on 09 Apr 00:19 next collapse

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?

JeremyHuntQW12@lemmy.world on 09 Apr 02:18 next collapse

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.

AThing4String@sh.itjust.works on 09 Apr 06:58 collapse

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.

partial_accumen@lemmy.world on 09 Apr 00:19 next collapse

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.

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.

JeremyHuntQW12@lemmy.world on 09 Apr 02:23 collapse

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.

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.

ricecake@sh.itjust.works on 09 Apr 03:54 collapse

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.

ricecake@sh.itjust.works on 09 Apr 03:31 collapse

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.

libra00@lemmy.world on 08 Apr 22:45 next collapse

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.

wirebeads@lemmy.ca on 08 Apr 22:54 collapse

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.

roserose56@lemmy.ca on 08 Apr 23:26 next collapse

Say bye bye to Nintendo switch 2 pre-order. I wonder what the gamers will do? This is gonna end very bad!

vividspecter@lemm.ee on 09 Apr 00:18 collapse

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.

moody@lemmings.world on 09 Apr 02:38 collapse

But is the product being shipped from Vietnam to the US, or just built there?

donnager@lemmy.world on 08 Apr 23:35 next collapse

I cannot wait to see the stock markets reaction tomorrow.

filister@lemmy.world on 08 Apr 23:43 next collapse

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.

BlackSheep@lemmy.ca on 09 Apr 00:25 next collapse

All Trump understands is “winning” or “losing”. He doesn’t understand negotiations. He doesn’t understand politics. It’s WIN or nothing.

ThatGuy46475@lemmy.world on 09 Apr 00:33 next collapse

If you ain’t first you’re last

SabinStargem@lemmy.today on 09 Apr 02:55 collapse

Sounds like his casinos. I would like to bet against the house.

MehBlah@lemmy.world on 09 Apr 00:48 next collapse

Why not a 1000% felon 47?

[deleted] on 09 Apr 01:22 next collapse
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mooncake@lemm.ee on 09 Apr 02:55 next collapse

I mean just his administration if fine, nobody would be missed.

peoplebeproblems@midwest.social on 09 Apr 03:01 collapse

At this point it feels like a good epicenter blast would mak all’ my problems go away

cupcakezealot@lemmy.blahaj.zone on 09 Apr 01:29 next collapse

“haha take that” - donald trump, slamming his dick in the car door

Doom@ttrpg.network on 09 Apr 02:43 next collapse

love this take

wanderwisley@lemm.ee on 09 Apr 04:16 collapse

Mushroom

Ledericas@lemm.ee on 09 Apr 04:07 next collapse

according to stormy, its not long enough

b161@lemmy.blahaj.zone on 09 Apr 04:23 next collapse

“Masterful gambit sir!” — MAGAts

MonkeMischief@lemmy.today on 09 Apr 07:43 next collapse

slamming his dick in the…

Burning deplorian truck’s “safety trunk door” on the Whitehouse lawn.

KSPAtlas@sopuli.xyz on 09 Apr 16:37 collapse

I thlammed my penith in the car door

Formfiller@lemmy.world on 09 Apr 04:37 next collapse

Those maga hats are going to be expensive

MonkeMischief@lemmy.today on 09 Apr 07:39 collapse

So will those blasphemous grift-bibles. (I’m gonna guess they’re still sold?)

BlackSheep@lemmy.ca on 09 Apr 04:44 next collapse

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 🤣

slaneesh_is_right@lemmy.org on 09 Apr 06:22 next collapse

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.

shalafi@lemmy.world on 09 Apr 07:16 collapse

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.

Sarie@lemmy.world on 09 Apr 10:14 collapse

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.

BlackSheep@lemmy.ca on 09 Apr 07:33 next collapse

104%?? Seriously? What’s next? 175% tariffs. Trump, you fucking idiot. The rest of the world doesn’t need you.

T156@lemmy.world on 09 Apr 08:12 next collapse

He’s going have the biggest, the greatest, the best tariffs.

cupcakezealot@lemmy.blahaj.zone on 09 Apr 11:55 collapse

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.

friend_of_satan@lemmy.world on 09 Apr 11:46 collapse

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