The trade and economy mega-thread (4 Viewers)

[superchuck500]

Is there a trade deal with China? Is it really a deal or just a pull-back to status quo ante? Is Trump advancing US interests in this well-executed trade battle plan or was this poorly conceived from the start . . . and harmful?

I think the jury's still out, but I haven't seen that the Chinese are offering much in compromise - and it's not even clear if there's going to be an agreement. But it's clear they are working on something and I'm sure Trump will sell it as the greatest trade deal ever. The proof will be in the details.

 

[longtime lurker]

Top Trump Official So Freaked Out by Tariffs, He Wants to Quit

And so the revolving door of Donald Trump’s Cabinet members begins.

newrepublic.com

 

[bird]

These people really think Americans are DUMB. I mean we are for electing this idiot. But come on!!! The reason given for rejecting biden is high prices! Now we're too privilege because we want cheap goods????? HOLY COW.

Kudlow is an idiot.

 

[DaveXA]

Kudlow is an idiot.

Has been for a while now.

 

[longtime lurker]

 

[longtime lurker]

https://www.axios.com/2025/04/04/house-republican-plans-bill-to-let-congress-block-trump-tariffs

 

[DaveXA]

https://www.axios.com/2025/04/04/house-republican-plans-bill-to-let-congress-block-trump-tariffs

I hope it happens, but color me skeptical.

That said, they'll likely eventually need to override a veto after it passes.

 

[Optimus Prime]

A Florida stationery entrepreneur has become the first to legally challenge Donald Trump’s new China tariffs, claiming they were imposed illegally and threaten American small businesses.

Emily Ley, a lifestyle influencer and the founder of Simplified, filed a federal lawsuit on Thursday in Florida against Trump and his administration, arguing the president unlawfully bypassed required procedures when implementing the 20% tariff on Chinese imports.

The legal challenge comes amid escalating global trade tensions, including China announcing retaliatory tariffs of 34% on all US goods starting on 10 April in response to Trump’s “liberation day” tariffs. Global markets have already seen trillions wiped from valuations as fears of a recession mount.


“These unlawfully implemented tariffs cause harm to American businesses, American jobs, and American consumers and will be the end of many American dreams,” Ley wrote in a post on social media.

The peculiar and sweeping nature of Trump’s tariffs has raised eyebrows, with even uninhabited territories like Australia’s remote Heard Island and McDonald Islands – home only to penguins and volcanic landscapes – appearing on the White House’s list of places facing new trade duties.

Despite market turmoil and likely more lawsuits, Trump wrote on Truth Social that his economic policies “will never change”, telling foreign investors “this is a great time to get rich, richer than ever before!!!”

Ley’s Pensacola-based company, which sells premium planners and organizational tools, argues Trump exceeded his authority by using the International Emergency Economic Powers Act (Ieepa) instead of traditional trade rules, which require detailed investigations before tariffs can be implemented.

The lawsuit also claims Trump has not demonstrated the tariffs are “necessary” to address the opioid emergency he cited when imposing them in February, then doubling them in March.……..

Florida stationery company files first lawsuit challenging Trump tariffs

Owner of Simplified says White House bypassed required procedures when setting 20% tariff on Chinese goods

www.theguardian.com

 

[Optimus Prime]

JOHANNESBURG (AP) — If you have ever bought a pair of jeans from an American brand like Levi’s or Wrangler, chances are they were manufactured at a factory in the small southern African nation of Lesotho.

Textile manufacturing is one of Lesotho’s key industries, exporting some 75% of its output to the United States.

This is expected to change after U.S. President Donald Trump slapped a 50% tariff on imports from Lesotho, the highest among all countries.

According to Trump, Lesotho charges a 99% tariff on U.S. goods, but the government said it doesn’t know how the U.S. administration calculated that figure. Government officials did not say Thursday what Lesotho’s tariffs on U.S. goods are……..

How tiny Lesotho ended up with the highest US tariffs in the world

U.S. President Donald Trump's tariffs have struck among others the small southern African kingdom of Lesotho, one of the world's poorest nations.

apnews.com

 

[longtime lurker]

I hope it happens, but color me skeptical.

That said, they'll likely eventually need to override a veto after it passes.

It looks like a few more Rep’s have joined:

https://www.reuters.com/world/us/more-us-senate-republicans-voice-support-congressional-oversight-tariffs-2025-04-04/

 

[GrandAdmiral]

A Florida stationery entrepreneur has become the first to legally challenge Donald Trump’s new China tariffs, claiming they were imposed illegally and threaten American small businesses.

Emily Ley, a lifestyle influencer and the founder of Simplified, filed a federal lawsuit on Thursday in Florida against Trump and his administration, arguing the president unlawfully bypassed required procedures when implementing the 20% tariff on Chinese imports.

The legal challenge comes amid escalating global trade tensions, including China announcing retaliatory tariffs of 34% on all US goods starting on 10 April in response to Trump’s “liberation day” tariffs. Global markets have already seen trillions wiped from valuations as fears of a recession mount.


“These unlawfully implemented tariffs cause harm to American businesses, American jobs, and American consumers and will be the end of many American dreams,” Ley wrote in a post on social media.

The peculiar and sweeping nature of Trump’s tariffs has raised eyebrows, with even uninhabited territories like Australia’s remote Heard Island and McDonald Islands – home only to penguins and volcanic landscapes – appearing on the White House’s list of places facing new trade duties.

Despite market turmoil and likely more lawsuits, Trump wrote on Truth Social that his economic policies “will never change”, telling foreign investors “this is a great time to get rich, richer than ever before!!!”

Ley’s Pensacola-based company, which sells premium planners and organizational tools, argues Trump exceeded his authority by using the International Emergency Economic Powers Act (Ieepa) instead of traditional trade rules, which require detailed investigations before tariffs can be implemented.

The lawsuit also claims Trump has not demonstrated the tariffs are “necessary” to address the opioid emergency he cited when imposing them in February, then doubling them in March.……..

Florida stationery company files first lawsuit challenging Trump tariffs

Owner of Simplified says White House bypassed required procedures when setting 20% tariff on Chinese goods

www.theguardian.com

I'm sure Ron DeSantis will be sending folks to have a talk with her.

 

[cuddlemonkey]

point drop totals are always going to skew toward current/recent presidents in a bull market. Curious to see what the percentage drops are and how those compare to others.

The above list now has 4-4 on there as well, expanding it to the top 8 biggest point drops. By percentage, the top 2 are in the top 5, with Black Monday 1987 and the 1929 crash taking the other three spots in the top 6 percentage point drops.

 

[Optimus Prime]

First it was steel producers. Then automobiles. Now the fashion industry has been left reeling from Donald Trump’s announcement on Wednesday that he was imposing tariffs on more than 180 countries including severe levies aimed at some of fashion’s biggest manufacturing regions.

Trump’s “liberation day” tariffs included a 10% duty on all imports to the US but “worst offender” countries – those with whom America has bigger trade deficits – face a higher rate. Several of these are key to fashion’s supply chains. China, where everyone from Prada to Zara outsource production, faces a 54% duty. Vietnam, where more than half of Nike’s footwear was produced last year, will be subject to a 46% tariff. Pakistan, a key manufacturer of denim items, will be hit with a 29% duty. Bangladesh, where garment manufacturing makes up to 80% of its total exports, will be subjected to 37% levy, while the EU, which accounts for at least 70% of the global luxury goods market, will be hit by a 20% tariff.

Stefano Martinetto, the chief executive of Tomorrow, a fashion brand development platform that has made lead investments in the Parisian label Coperni and the British designer Martine Rose, describes the situation as extremely complex, with brands struggling to assess its impact. It is unclear what duties apply to a finished product.


“Products are not made in one place,” Martinetto says. “You could have fabrics that come from Italy. Another element that comes from China. Something else from Korea. And then it could all be assembled in Turkey.

“You have to understand the manufacturing chain and shipping chain and at the moment there is no clarity about what and where a tariff is to be applied.”

The US is one of the world’s largest consumers of clothing and footwear, more than 98% of the country’s apparel is imported. In January, reportssuggested fashion’s luxury market could benefit from increased consumer confidence in the US. But after already facing challenges including Brexit and Covid, the industry is now grappling with even greater uncertainty.……

It could set the industry back 50 years: fashion braces for impact of Trump tariffs

From farmers to designers, the entire supply chain will be hit – but it is unclear what duties apply to a finished product

www.theguardian.com

 

[UriUT]

3d chess folks.

3 D





this aligns with what my FA told me- Trump thinks that he can FORCE the FED to lower the key rate.

So far, Powell said nope.

And these Russian propaganda pushing Maga:




Let's pretend we take his words at face value. He's trying to reduce trade deficits. Economists don't even think trade deficits are inherently bad, nor does it reflect the health of an economy.

 

[Neworleansfan]

Tariffs will cause irreversible damages to small mom and pop businesses who don’t have the negotiating power and the funding to weather the cost increases forcing them to close. After the dirt settle down, big business will be left standing. It’s another step to consolidate wealth to a tiny faction of the population.

 

[efil4]

And these Russian propaganda pushing Maga:




Let's pretend we take his words at face value. He's trying to reduce trade deficits. Economists don't even think trade deficits are inherently bad, nor does it reflect the health of an economy.

Totally agree. Trade deficits are part of doing business. We all have trade deficits down to a personal consumption level.

His focus on trade deficits is an indicator of how simple his brain works. We buy more from them than they buy from us? Bad

 

[longtime lurker]

Jaguar Land Rover halts shipments to US in wake of tariffs as Trump insists he'll win 'economic revolution'

Jaguar Land Rover has "paused" shipments to the US over Donald Trump's tariffs as the US president insisted he will win the "economic revolution".

www.lbc.co.uk

 

[Neworleansfan]

I hope it happens, but color me skeptical.

That said, they'll likely eventually need to override a veto after it passes.

I am seeing it as a bailout as in “I forked up, please bail me out”. So if it passes, I don’t think it will be vetoed.

 

[UriUT]

Tariffs will cause irreversible damages to small mom and pop businesses who don’t have the negotiating power and the funding to weather the cost increases forcing them to close. After the dirt settle down, big business will be left standing. It’s another step to consolidate wealth to a tiny faction of the population.

Mark Cuban agrees with you.