this post was submitted on 31 Jan 2025
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Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump's pledge to reduce living expenses.

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[–] supersquirrel@sopuli.xyz 64 points 1 week ago (1 children)

I can't wait for mainstream business media to attempt to explain this rationally while keeping a straight face AND still bootlicking at the same time.

I don't envy that job.

[–] hansolo@lemm.ee 60 points 1 week ago

Lol, do it, bitch. Bet you'll chicken out of this one too.

[–] KoboldCoterie@pawb.social 58 points 1 week ago (16 children)

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

Does anyone honestly think Trump meant anything he said while he was campaigning? It was obviously all just saying what people wanted to hear. He basically said as much himself. Pretending otherwise is just legitimizing lies and propaganda.

[–] LadyMeow@lemmy.blahaj.zone 32 points 1 week ago

Yes, he meant several things while campaigning. Like destroying trans peoples lives, freeing nazis, and punishing those who deigned to attempt to hold him accountable for his many crimes. Oh also for destroying climate protections, deporting brown people, shall I go on? All the things like lowering prices? No absolutely not. That would benefit regular Americans and not hurt minorities, so it doesn’t make the list

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[–] Zier@fedia.io 45 points 1 week ago

I was going to give up eating this year anyway. Food just takes too long to buy, cook & eat.

[–] MothmanDelorian@lemmy.world 43 points 1 week ago (3 children)

Great so now my food will cost even more?

[–] Snowclone@lemmy.world 53 points 1 week ago* (last edited 1 week ago) (3 children)

WAY more. We import a lot of food from Mexico as is, and the immigration and ethnic clensing the Trump goverment is engaging in is already forcing farmers to watch their crops rot on the ground with no one to harvest them. So we're following in the great tradition of Stalin and Pol Pot, we have a dumb fucking asshole with a hard on for ''strong man tactics'' demanding we change how we get food in many extreme ways immediately, you know, instead of gradual change, so we'll all get to see what an artifical famine looks like! Do you think Trump will let other nations send us emergency rations so we won't die? Or will he confiscate them at a dock or border and have them dumped into the ocean so he doesn't look weak? North Korea knows.

[–] rocket_dragon@lemmy.dbzer0.com 15 points 1 week ago

We also export a hell of a lot of soybeans, so when retaliatory tariffs kick in I guess our new ultra-masculine conservative government is going to have us all eating lots and lots of soy.

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[–] mycelium_underground@lemmy.world 20 points 1 week ago (1 children)

I can't believe some people think that putting tariffs on a country means the country will just give the government 25% of everything and the merchants of that country are not just going to raise the prices to match the new expenses(or maybe even a little bit more since they have a good excuse to change prices).

I guess I can stand to eat a bit less, we can call it the economic collapse of the US diet! Just think of all the profits from the diet books! To bad they are going to cost 30% more now that my Mexican publisher is paying a tarrif to bring the books into the US. That's OK, spending more money on the book just means that you won't be able to afford as much food, making the diet work even better!

[–] tekato@lemmy.world 9 points 1 week ago (4 children)

I can't believe some people think that putting tariffs on a country means the country will just give the government 25% of everything and the merchants of that country are not just going to raise the prices to match the new expenses(or maybe even a little bit more since they have a good excuse to change prices)

I’m not sure anyone believes that. The point of tariffs is that merchants will have to increase prices to keep the same profit, causing people to purchase less of the product and look for cheaper alternatives (those without tariffs).

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[–] tal@lemmy.today 25 points 1 week ago* (last edited 1 week ago) (1 children)

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

First time around, with the trade war with China, he had the federal government cut checks to affected farmers. I don't know the form that took, but during COVID-19, he had stimulus checks sent out -- with his name on them -- to the broader public.

So, that's presumably to make sure that they associate him with the check. I understand that sending out gifts to the public with your name attached isn't uncommon around election in some countries with kinda sketchy political systems.

One imagines that he might do a repeat. Most people don't seem to have a great handle on what drives inflation, from polls I've seen. If you figure that you get political points for sending out checks but don't lose as many political points for raising prices because people don't associate you strongly with those costs, that might be an advantageous political move; add tariff, which generates revenue to federal government, then send money to some approximation of impacted people with name attached. It's economically-inefficient, but...

[–] ms_lane@lemmy.world 9 points 1 week ago

Don't forget his little issue with TSMC holding a virtual monopoly on wafer fabrication.

Don't forget that's HIS FAULT.

GlobalFoundries had working 7nm, but they were a year late and-

  • Intel's problems appeared to be over (they weren't)

  • TSMC would have mass production of N7 up within months (they were already in risk production)

  • Samsung's aggressive posturing and pricing for Samsung Fab would eat into their business, even though it was for a 10nm class product

  • UMC would have 7nm up within 6 months (they stole TSMC IP and got clapped for it, no UMC 7nm)

  • SMIC would also be up within a year (Also stolen TSMC IP, they can't sell it in the west but it's used extensively in China)

All those thing would make it hard to make a lot of money when they were a year late (though all of them turned out wrong except TSMC). SF parent company would have allowed all that to happen too, but then Trump started subsidising oil to put pressure on OPEC. ATIC no longer had their 'unlimited money' and GF had to get back in black, so 7nm was cancelled.

This left only TSMC and Poor Quality Samsung (Intel still doesn't really do third party fab work)

Thanks Trump for putting tariffs on for the mess you created.

[–] Akasazh@feddit.nl 19 points 1 week ago (1 children)
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[–] labbbb2@thelemmy.club 18 points 1 week ago* (last edited 2 days ago) (1 children)

What an idiot he is.

Plot twist: Trump is just looking to see if the Americans can stand up for themselves. If they remain silent and do nothing, he will continue to tighten the screws.

P.S. Need to take out a loan for Trump passport at 146% APR, lol

[–] kreskin@lemmy.world 11 points 1 week ago (1 children)

I'm not sure what to do though. Pitchforks at city hall? mean letters to white house interns? Protests that the news wont cover? I live in one of the bluest states there is.

We certainly cant count on the Corporatist dems doing much of anything, except if there is any pushback they will try to use it as a photo op while contributing no support to it at all.

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[–] werefreeatlast@lemmy.world 17 points 1 week ago (11 children)

I love how old the orange asshole looks in the photos. Hopefully things just work out in our favor soon. It could be a permanent sleep or maybe a nice golf ball to the forehead or choked on a pretzel. I think we should probably place some ...legal... Bets on how it all goes down? It shouldn't that that long. I remember when my Grandma looked like that and we buried her a few months later.

[–] prof_wafflez@lemmy.world 15 points 1 week ago (1 children)

It's not like this buffoon being gone will stop the rest of the out-of-their-minds and now fascist Republicans or Muskrat from continuing the work.

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[–] Bosht@lemmy.world 10 points 1 week ago

Man have you seen him speak? I don't know what concoction of drugs he is on or if he's just showing his age but he's definitely not the rager he was 5 years ago. Seems tired and much less coherant. Makes me optimistic he might be in mental decline more than I theorized previously. But if we go by the 'asshole' rule he'll outlive most of the Senate just out of stubbornness and hatred. We definitely need a quick solution.

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[–] ubergeek@lemmy.today 11 points 1 week ago (5 children)

As an American, I'm loving this... Really. Its high time we feel the pain we've inflicted on other countries. Our "comeuppance" if you will.

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[–] mvilain@fedia.io 10 points 1 week ago (1 children)

I read a post on Mastodon from someone in Ontario Canada that was proposing shutting off all export of oil and electricity to the US. The thing that made me doubt this was they were also calling for impeaching 45 (again!). That would leave Vance which scares me even more.

[–] vastard@lemmynsfw.com 10 points 1 week ago* (last edited 1 week ago) (1 children)

The person who proposed shutting off electricity was Doug Ford, the premier of Ontario who could in fact follow through. It would definitely be the nuclear option but it would disrupt the power grid of several norther states we border.

I don’t think it will come to that. I think the orange idiot just wants some politicians to grovel and pay his tithe at the last minute so he can feel powerful. He’s “warned” of tariffs too many times to make me think he’s serious.

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[–] adarza@lemmy.ca 8 points 1 week ago (1 children)

exclude oil, and the u.s. has a trade surplus with their northern neighbor.

so leaving oil without the extra tax, then there is not even that flimsy concept of an excuse to have the tariffs in the first place.

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