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.

 

[Neworleansfan]

Typical trump meltdown imminent!

In all caps.
Republicans will criticize this ruling on their favorite media outlets but deep down, they know that this ruling saves their butts if it stands.

 

[longtime lurker]

 

[superchuck500]

Court blocks tariffs.

US court blocks Trump from imposing the bulk of his tariffs | CNN Business

A three-judge panel at the US Court of International Trade, a relatively low-profile court in Manhattan, ruled Wednesday to halt Trump’s global tariffs that he imposed citing emergency economic powers, including his “Liberation Day” tariffs imposed on April 2 and tariffs placed earlier against...

www.cnn.com

https://www.cnbc.com/2025/05/29/court-strikes-down-trump-reciprocal-tariffs.html

 

[efil4]

 

[Sendai]

https://www.cnbc.com/2025/05/29/court-strikes-down-trump-reciprocal-tariffs.html

I suspect there are more than a few who are quietly pleased with the courts ruling.

 

[superchuck500]

I suspect there are more than a few who are quietly pleased with the courts ruling.

The US market futures shot up on the news

 

[wardorican]

https://www.cnbc.com/2025/05/29/court-strikes-down-trump-reciprocal-tariffs.html

Trade deficits dont hurt us. It means we have more wealth to buy more than the other countries. Having a trade deficit with Vietnam isn't hurting us.

And the courts didn't decide a course of action. They just said yours were illegal Donnie...lol

 

[superchuck500]

 

[efil4]

no tirade...yet. Just this....

 

[efil4]

The US market futures shot up on the news

muted at open. ( well off the highs )

I suspect there is "reserved enthusiasm" until things become a bit more clear ( on the appeal )

 

[Optimus Prime]

Court blocks tariffs.

US court blocks Trump from imposing the bulk of his tariffs | CNN Business

A three-judge panel at the US Court of International Trade, a relatively low-profile court in Manhattan, ruled Wednesday to halt Trump’s global tariffs that he imposed citing emergency economic powers, including his “Liberation Day” tariffs imposed on April 2 and tariffs placed earlier against...

www.cnn.com

MAGA not pleased

 

[Neworleansfan]

Donny met with Jerome Powell today to ask for rate cut. No meltdown yet.

Trump met with Jerome Powell today to scold him about rates. Powell stressed the Fed is staying out of politics | CNN Business

President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, scolding him for not lowering borrowing costs. Powell maintained that any decisions won’t be based on the president’s demands.

www.cnn.com

 

[efil4]

Appeals court reversed US Trade court ruling/halt. Hoever its temporary, as Admin will look to ask for permanent stay during appeals.

https://www.cnbc.com/2025/05/29/blocked-trump-tariffs-trade-court-appeal.html?taid=6838b46b9847150001febb29&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter

 

[faceman]

Appeals court reversed US Trade court ruling/halt. Hoever its temporary, as Admin will look to ask for permanent stay during appeals.

https://www.cnbc.com/2025/05/29/blocked-trump-tariffs-trade-court-appeal.html?taid=6838b46b9847150001febb29&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter

Jeffrey Schwab,lawyer for the plaintiffs is very confident the appeals court will uphold the lower courts decision.

 

[MT15]

This could easily fit into the Trump mental state thread as well. Embarrassing.

 

[efil4]

This could easily fit into the Trump mental state thread as well. Embarrassing.

"not surprising to some..."

Guess he falls into the "other" category- the guy who actually made the deal didnt see this coming.

huh.

 

[wardorican]

MAGA not pleased

The fact check from Charlie Kirks post is interesting.

So, why did Trump use the IEEPA to levy these massive tariffs instead of the trade expansion act? Are there limits/conditions to that act?

 

[efil4]

The fact check from Charlie Kirks post is interesting.

So, why did Trump use the IEEPA to levy these massive tariffs instead of the trade expansion act? Are there limits/conditions to that act?

from my limited understanding of Sec 232, Trump would first have to have Commerce conduct an "investigation" into SPECIFIC items, not ALL. Then submit report, along with SECDEF signing off and THEN can impose Tariffs.


See, Trump did this in his 1st term for Aluminum, steel, autos, auto parts, uranium, titanium, transformers and vanadium.

2017-2021. During the first Trump Administration, Commerce completed seven Sec. 232 investigations: (1) aluminum, (2) steel, (3) automobile and automobile parts, (4) uranium, (5) titanium sponge, (6) transformers and transformer components, and (7) vanadium. In all completed investigations except for vanadium, Commerce found a threat to U.S. national security.

President Trump imposed tariffs on steel and aluminum in 2018. He later modified the steel and aluminum tariffs, granting certain product and country exemptions as well as negotiating import quotas and increasing tariff rates on specific countries and goods. For other goods, the Trump Administration entered into negotiations with trading partners. For uranium, President Trump did not concur with Commerce's finding of a national security threat, but announced the establishment of a working group.

Commerce found all but vanadium to be national security, and he imposed his tariffs on those products. ( except vanadium )

He wanted to skirt the boring report part and go straight to choke hold.

https://www.congress.gov/crs-product/IF13006