Gasp! Who would’ve thought?!
Yep that’s tariffs 101
I am shocked, shocked I say. I can’t believe this country is going in the direction it is. I mean, we voted in Biff Tannen, I thought things would be different
But he said he’d lower grocery prices le shock.
And let’s not forget the “Look, the tariffs are adding 10% already… what’s an extra 5% on top of that?” tax.
Who could ever have foreseen something like this happening? Certainly, not I.
Is this not C/leopardatemyface?
It’s going to be super frustrating when a court suddenly decides in a couple of years that actually these tariffs were illegal all along and the federal government has to give the money back to the businesses and they just pocket all this money
Even more frustrating…some companies are putting out bonds that they will pay out when they recover the money they paid to the government for these tariffs. There are members of Trump’s administration that have bought these bonds.
So you’re paying higher prices for everything and Trump’s guys (and likely Trump himself too) are going to profit from it.
Any more detail on the bonds thing or articles?
Trump is 79 and apparently has some kind of medical issue (it must be serious considering that they’re covering it up). Hopefully this orange ass-clown won’t live long enough to enjoy it.
79 and apparently has some kind of medical issue
Not heard any of this. Any links?
not that i doubt this but do you have a source for the info? very curious to learn more about this, havent heard as much before
Sorry I don’t have a an exact source. From what I recall they were talking about this on the Bulwark a month ago I think? It’s such a weird thing (is bond the right word for it?) that there’s even a term for it. So it’s not an easy thing to search for. What do you even call it when you can buy a piece of a tax refund that you expect to happen when the court rules the government levied an illegal tax?
when a court suddenly decides in a couple of years
Good start
that actually these tariffs were illegal all along
We hope
and the federal government has to give the money back
I don’t think that can happen, but it would be nice down the line to-
to the businesses and they just pocket all this money
GOD DAMN IT
You know it’s true. Why would trump push them if it wasn’t some scam? Guys birthday was sponsored by a Bitcoin scammer
I’m pretty sure we are in hell
Welcome to 1938, enjoy your stay
Well yeah. Tariffs are taxes and I told people last year I need to save up for the trump tax and most people shrugged it off or gave me a hard time.
I work with international sales, tariffs are my job. But as we know, people don’t like facts or reality.
Yeah…my grocery bill has been reflecting this lately. Food is getting even more expensive.
Yup, and when the tariffs go away, they’ll keep the higher prices and pocket the difference.
Another fun thing about tariffs. Those domestic producers that are being protected by tariffs will increase their prices as high as they can.
For example, let’s say an American company can sell a widget for $5 and a Chinese company can sell it for $4.
You slap a 100% tariff on the Chinese widget, now it costs the consumer $8.
The American company can now sell you the widget for the initial $5 and leave $2.99 on the table, or they can jack their price up to $7.99, be cheaper than the Chinese widget, and increase their profits while gesturing around vaguely at “market conditions”
End result, you pay more for the widget, more than it the foreign producer used to sell it for and more than the domestic producers used to sell it for.
Now imagine you make something that has dozens of inputs and that happens to every input.
Truly a golden age
It’s not just domestic companies being greedy (though they definitely are) they kinda have to raise prices to avoid shortages. Basic supply and demand pressures.
In the long term they could expand their production and lower the prices, which is theoretically the point of the tariffs. But no one is going to make that long term investment because of the likelihood that the tariffs will be ruled illegal by the courts and general TACO stuff.
Here in Australia, most of the inflation we encountered in 2024 was due to large retailers simply increasing their prices because everyone expected everything to be more expensive.
It’s been the same in the US since covid.
I want to say “no shit” but then I remember the average American.
why hasn’t anyone told about this???
Retailers wanted to put a line item on the receipts calling out the tariff costs and Trump threatened to sue them.
same story with Amazon too, initially there was a note detailing the extra cost of tariffs. needless to say Trump started hurling threats, flailing his arms, crying and shouting.
So exactly like they did during the pandemic… And continued to after the pandemic.
Wouldn’t it be more news worthy if they were not?
Unfortunately, a lot of people actually believe the Chomo-In-Chief’s bullshit and truly thought that other countries were paying the tariffs.
a lot of people
For low values of “people.”
The very same rocket surgeons thought that Project 2025 was a “Democratic hoax” or a “blue maga conspiracy theory”, too…not the sharpest bulbs, as Taco would say.
They knew that was a lie, but they’re OK with lying if it benefits their agenda.
Well honestly I kinda don’t understand what’s been happening since April. I know there’s been a lot of chickening out but I had thought that a lot of tariffs were in place even if it’s only 10%. Have grocery chains not been passing this on for the last several months?
