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So one major sector the tariff hit is the auto industry. Lots of cars are imports or built elsewhere or have parts imported. In completely unrelated news, a go
by IgorPartola 2y ago
So one major sector the tariff hit is the auto industry. Lots of cars are imports or built elsewhere or have parts imported.
In completely unrelated news, a good friend of POTUS runs a struggling American car manufacturer. I think it’s called Tesla or some such?
- JohnTHaller 2y agoAs per the President, it's pronounced Tessler
- deleted 2y ago[deleted]
- zozbot234 2y agoThat "good friend of the POTUS" has everything to lose if the economy tanks. Tesla is far from insulated from the rest of the market, same with his other ventures. There's no way he's happy about this.
- IgorPartola 2y agoThat makes sense, but I do wonder if the idea here is that he thinks Tesla will be less damaged than others. In either case it’s really dumb but hey it’s not like we all didn’t at some point ruin an economy or two.
- ethbr1 2y agoOr, there is a diverse group of people in the current administration, with sometimes contradictory agendas and views.
- kavalg 2y agoAre you sure? Maybe the rich just want to buy shares back at a favorable price. I can't help wondering how much cash they are holding now.
- theGnuMe 2y agoCars are overpriced already so the recession will force the manufacturers to eat the cost or continue to extend the financing window. China will probably be banned from selling cars here so it may work.
- seanmcdirmid 2y agoA recession will probably tank a lot of manufacturers if they aren’t getting bailouts. And China is only banned here, but not everywhere in the world, they are poised to take over many car markets that are irked by American tariffs, they just have to offer them a slightly better deal.