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Tit for Tat Tariffs - The US versus the World

bèlla

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Is that the pic of him starring directly into the sun?

It’s taken from a speech he gave during the eclipse.

IMG_3151.jpeg
 
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camille70

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Trump’s Policies Are Driving the U.S. Economy Toward Structural Collapse



The farm crisis has spread to industry. John Deere, the emblem of American agricultural machinery, announced that it lost over $300 million in the first half of the year due to new tariffs — and expects total costs to reach $600 million by year’s end. Rising steel and aluminum prices, coupled with farmers’ dwindling purchasing power, have slashed equipment demand. The result: 2,000 layoffs and a 29 percent revenue drop. The downturn in this sector has rippled through local economies — shuttered stores, falling property values, and shrinking towns
 
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camille70

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34:30 mark to about 41 min mark

Rumor: Families of cabinet members are purchasing tarriff claims from companies who have paid them in anticipation they will be overturned.

 
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Say it aint so

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34:30 mark to about 41 min mark

Rumor: Families of cabinet members are purchasing tarriff claims from companies who have paid them in anticipation they will be overturned.

AI Overview

Reports emerged in mid-2025 that Cantor Fitzgerald, a financial services firm run by the sons of U.S. Commerce Secretary Howard Lutnick, offered to purchase potential tariff refund claims from companies affected by President Donald Trump's tariffs. The offers drew scrutiny from lawmakers due to the potential for conflicts of interest.

They are parasites.
 
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essentialsaltes

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Five Senate Republicans join Democrats to rebuke Trump’s Brazil tariffs​

Sens. Rand Paul, Thom Tillis, Susan Collins, Lisa Murkowski and former Senate GOP Leader Mitch McConnell sided with Democrats in the 52 to 48 vote.

McConnell has long been critical of Trump’s trade policy, and said in a statement ahead of the vote, “Tariffs make both building and buying in America more expensive. The economic harms of trade wars are not the exception to history, but the rule.”

“The emergency, with respect to Brazil, the unusual and extreme emergency that threatens the United States, that emanates in whole or in part outside the United States, is the Brazilian decision to prosecute Donald Trump’s friend. How is that an emergency?” [Sen. Kaine] said, noting that the US has a trade surplus with Brazil.

The resolution, however, isn’t expected to be taken up by the House.

[Certainly not when the House has been idle for weeks to avoid a vote on the Epstein files.]

Earlier this year, Republicans in the chamber added a measure to a procedural rule blocking members from being able to force a vote on the president’s tariffs.

[Well, that too.]
 
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essentialsaltes

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Trump admin faces deeply skeptical Supreme Court in early tariff arguments

President Donald Trump’s attorney faced deep skepticism from several key conservative justices in early arguments at the Supreme Court over his sweeping global tariffs – a potentially troubling sign for the administration.

Chief Justice John Roberts and Justice Amy Coney Barrett, in particular, pressed the administration hard on several points, including whether the law at issue in the case authorized Trump to impose his emergency tariffs.

Roberts pushed back on key arguments from the administration, suggesting that the language in the law – which permits a president to “regulate” imports – may not be clear enough to justify the import duties. Barrett, meanwhile, asked Solicitor General D. John Sauer whether the court had ever viewed the term to “regulate” to include sweeping tariffs.

Justice Brett Kavanaugh, too, seemed skeptical of one of the administration’s historical arguments: That former President Richard Nixon was permitted by courts to impose tariffs under a precursor to the law at issue in the case.
 
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Hans Blaster

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Justice Brett Kavanaugh, too, seemed skeptical of one of the administration’s historical arguments: That former President Richard Nixon was permitted by courts to impose tariffs under a precursor to the law at issue in the case.
It would be nice if one of the Georgetown Prep wing of the Court would rule for sanity and black-letter law on this one.
 
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camille70

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essentialsaltes

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"We cannot build bananas in America"

At a House Appropriations hearing on Thursday, Rep. Madeleine Dean (D-PA) questioned Sec. Howard Lutnick about President Trump's tariffs.

Never let it be said that the Trump Administration can't eventually learn from its mistakes months after people point out the obvious flaws in its simplistic and drastic actions.

Bessent says 'substantial' tariff relief on coffee and bananas is coming soon

President Donald Trump also promised tariff relief on coffee this week.

Bessent, speaking on Fox News Channel, said that while "it's tough to do a lot of specific things," [oh, lordy, all those details. Who has time to sort it all out?!?] the administration would be moving to cut duties on a number of "things that we don't grow here in the United States."

Bessent added on Wednesday that he expects "the American people are going to start feeling better" about inflation in the first or second quarter of 2026.

So day 500 instead of day 1? I'll believe it when I see it.
 
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essentialsaltes

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The Trump administration is racing to reframe his tariff rollbacks

Late Friday, the White House announced the president had signed an executive order exempting more than 200 food products, including bananas, beef and coffee, from the so-called reciprocal tariffs he has imposed on U.S. trading partners.

The move comes as the trade duties have begun to face economic, legal and political resistance that cast doubt on their efficacy.

They were perfectly effective at raising prices on these goods!

White House officials are insisting the rollbacks do not amount to a retreat from the president's staunch defense of tariffs as an economic driver.

While some of the factors influencing the cost increases are not directly tied to tariffs, economists have estimated that consumers have been shouldering more than 50% of the overall price increases seen from Trump's import duties.

[It should have been obvious to not impose tariffs in the first place on items not produced in the US.] But whether all the products that were most recently exempted from tariffs fall into the category of “not produced in the United States” is doubtful.

Beef and oranges are produced in the United States, for example, and yet they were included on Friday’s list of broad exemptions from all reciprocal tariffs — not just from duties on imports from countries where the U.S. has secured trade deals. [not to mention the large US taxpayer donation to Argentina.]

Key elements of Trump’s tariff regime now also face legal jeopardy, however, as the Supreme Court weighs whether Trump illegally bypassed Congress when he imposed 'reciprocal' duties and fentanyl-related tariffs using emergency powers authorization.
 
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essentialsaltes

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Congressional Budget Office Lowers Tariff Savings Estimate By $1 Trillion

Recent tariff changes will produce $3 trillion in total savings, the office said, down from the $4 trillion savings estimate it made in August.

Since these tariffs were supposed to partially pay for tax cuts for the wealthy, I guess we'll have to raise their taxes. We certainly wouldn't want to add an extra trillion to the debt, would we?

(Not to mention the debt that would come from those tariff checks)
 
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Dale

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Trump has believed in high tariffs since the 80's. He is simply being consistent.

And he doesn't care how many people think that he or Press Secretary get taught about economic policy from the AP.
========
However, he SHOULD listen to the Wall Street and other billionaires.

IMO, much of this is a diversion while he gets his reconciliation law passed, including the huge tax break for his friends.

He has exactly ZERO interest in reducing the debt or balancing the budget. He has other priorities.

I've heard people say, "We need a businessman as President." The whole reason for wanting someone who owns a business as President is that businessmen know how to balance budgets. If they don't care about that, there is no reason for wanting them in office.
 
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mark46

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I've heard people say, "We need a businessman as President." The whole reason for wanting someone who owns a business as President is that businessmen know how to balance budgets. If they don't care about that, there is no reason for wanting them in office.
If you want a businessman in the White House that doesn't understand debt, then so be it. There are very few such businessmen. Debt is part of almost all business models. A "balanced budget" is not a meaningful concept for business.
 
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Dale

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If you want a businessman in the White House that doesn't understand debt, then so be it. There are very few such businessmen. Debt is part of almost all business models. A "balanced budget" is not a meaningful concept for business.

A wise businessman knows when they have a debt problem. They seek to reduce debt and increase income. Investors do look for excessive debt as as a warning sign.

Donald Trump used corporate bankruptcy to stiff contractors, workers and investors. He never was a good businessman.
 
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mark46

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I 100% agree. Trump may or may not be worse that Democrats on the economy, but his attitude toward debt is the same: it doesn't matter.

Your point was that we should want a businessman who wanted a balanced budget as his critical priority.
 
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