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US announces double-digit tariffs on most of globe to replace expiring duties
- ck2 3mo agoGuess what you're getting for xmas? Nothing, a great big pile of nothing because you can't even afford food or clothing Well maybe wrapped up for January will be an impeachment under the tree, all depends if the Dems get the Senate (unlikely) Billions in refunds to major retailers in six months but no refund to consumers BTW this is why he's had a 40 Year Tantrum over Tariffs, savvy Japanese businessmen: * https://www.bbc.co.uk/news/articles/c4gp5pw654lo https://www.bbc.co.uk/news/articles/c4gp5pw654lo
- onetokeoverthe 3mo ago[dead]
- bijowo1676 3mo agoDidnt supreme court strike down tatiffs?? Hownis it possible ?
- ck2 3mo agoarticle actually explains it well uses same small technique Biden and even Obama used "Section 301 of the Trade Act of 1974" just lazily applies it to the whole damn globe instead one or two countries like they did (aka he's taxing the penguins again) except all the crude oil markets now are closing at $100 for September and there's no sign it's going down in October or why even before 2029 $100/barrel = $5 gallon of gas, $6 diesel
- toomuchtodo 3mo agoChina did the world a solid by rapidly curtailing oil imports to try to stave off the pain from these geopolitical decisions. Alas, we have encountered conditions even China cannot manage. The oil futures curve tells the painful story ahead, as you mention. https://youtu.be/BkA0bkb6ZO0 https://youtu.be/BkA0bkb6ZO0 https://www.scmp.com/economy/china-economy/article/3361206/chinas-crude-purchases-plunge-june-amid-middle-east-supply-drop-higher-prices https://www.scmp.com/economy/china-economy/article/3361206/c... Best one can do is continue to decouple from the US whenever possible of a trade partner, or if a natural person, leave the US for a developed country or hunker down until there is political will to reverse these suboptimal policies.