- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
Donald Trump and White House officials walked back a Friday announcement that there would be tariff exemptions on imported electronics.
In a Truth Social post on Sunday, Trump directly denied the tariff exemption announcement.
…
“This is really mind-boggling. If this was serious industrial policy, the main thing you want is certainty: ‘Here’s the tariff, it will be in place for the indefinite future, and you should plan accordingly,’” Dean Baker, an economist at the Center for Economic and Policy Research, a left-leaning think tank, said, according to The Washington Post. “Here, it’s basically: ‘Come back next week and see what we’ve got.’ That’s no way to run an economy.”
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Walking-back the walk-back? They’re doing a whole 1-2 shuffle!
They turned 360
I’m not surprised that this is how the second Trump administration has started. This level of stupidity is exactly what I was expecting. What does surprise me, though, is that many tens of millions of people voted for this. Honestly, it’s shaken my commitment to democracy. Maybe the people shouldn’t be making important decisions.
How about education should never be touched when it comes to budgets?
I think that’s a good idea, but, unfortunately, if put to a vote, I’m confident the American people would vote against it.
People are fucking stupid
How about education should never be touched when it comes to budgets?
…stupidity? 🤦♂️🤦♂️🤦♂️
They’re intentionally crashing the economy so they and all their billionaire buddies can buy everything up for cheap. Everything is going literally exactly as planned.
I was one to agree with you for a time, but at this point I’m not even sure what the plan could actually be, US treasury bonds are taking a big hit because of this shit and the global economic order is shifting to exclude the US and could even endanger the dollar as the world reserve currency. That’s a change so seismic no one could even predict what it would mean for anyone. If that’s his intention then whoever came up with the plan is stupid beyond all imagining
I won’t go russian to judgement or putin the blame on anyone, but some people that love to sow chaos and take down the US do come to mind.
this “plan” assumes recovery
The US was never a democracy to begin with. It was a government designed to benefit one very particular small but powerful minority.
It’s just that now it’s come out of the closet.
It’s strange that it would happen now, at a point when literally every job can be automated(or will be automatable within the next 5-10 years).
Democracy is the power of the majority. Now think of how stupid the avarage person is and realize half of them is stupider than that.
What surprises me is that tens of millions still think he’s doing the right thing even as he makes the country look like fools.
You know, this may really piss off some folks who got an early notification that there would be an exemption for electronics. You know, his insider trading buddies. It will be interesting to see who gets the angriest about this last minute change.
On April 11, 2025, traders placed large, targeted call option bets on Apple. That evening, the Trump administration quietly exempted smartphones from tariffs, news not publicized until April 12. These trades weren’t speculation - they were placed before the memo was released.
Lmao. Bet there are some angry Tech-bros calling.
May they lose their shirts.
The AP source title is: Trump’s commerce secretary says new electronics tariff exemptions are temporary, chip tariffs coming
The part that’s been denied is that the exclusion is permanent. Since Friday, electronics from China would be subject to 20% of the fentanyl tariff and nothing more. It will be this way until Trump invents another tariff just for electronics. I believe this is what most commentators expected back in Friday, but there must be talks of capitulation and Trump couldn’t stand to lose face.
Crazy that someone checked the facts and shares about it and 3 hours later only has 5 upvotes including the one I just gave. Thank you. Maybe next time you should begin your comment with
# HERE IS THE CONTEXT GUYS!
This isn’t even a subtle attempt to destabilize the world market, and yet so many people are just like
Stock market futures be like 📉📈📉📈📉📈📉📈📉
Every movement of the stocks can be used to make money if you know it’s coming. These guys are making hand over fist with insider trading fraud.
An insider trader’s delight.
MAKE UP YOUR MIND!!!
I think you’re confused. They make up their mind all the time, then check if everyone sold/bought stocks and than they make up their mind again. Then they check if everyone sold/bought stocks and on and on.
And the sell off of our debt will pick up speed. These idiots are going to crash our economy and anyone left holding the bag.
Is it just me or is anyone else reminded of Pahpshmir out of the Naked Gun movies by this disgusting man?
Stock market doesn’t believe his truth social report it seems. Apple shares are still up mid morning.
Trump, “There was no Tariff ‘exception’ announced on Friday”.
Nope, totally nothing to see here: “Reciprocal Tariff Exclusion for Specified Products”.
Who else has been riding the VIX train with me from 2 weeks ago?
