Likely, it’s going to be applied with every crossing. With reciprocal tariffs in place, it gets applied both coming and going. It’s a total fiasco. Knowing how certain people operate, I believe it was intended as a threat to get the others to back down and remove their trade barriers. But now that it has mostly backfired, guess who gets left holding the bag…
I think that China may ultimately be holding the winning cards in the tariff war by cutting-off the export of Rare Earth Minerals to The US, as these substances are vital for many defense projects.
https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/
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This weakness has been known for some time along with Russia threatening to cut us off as well. One of the big reasons they are looking to cut a deal with Ukraine. They can cut us off instantly but it will take us years to develop an alternate source. Shortsightedness is rampant these days…
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Here is a look at car components that will be hit with minimum 10% price increases as a result of the newly-imposed tariffs.
In fairness I used to read the wsj every day. In the past years they seem to have gone the way of so many others and outside of some editorials, are less reliable.
So we’ll just see how this all shakes out but we are in the process of revamping policies put in place after World War Two. Bound to be some rough patches. Interesting that Klause is retiring. You know the guy that wants us to eat bugs and not own anything-for our own good.
Next it sounds like bill gates may lose his tax exempt status. Wow. What’s not to like?
HUH? Everything is after WWII. What does that mean? Trade policies have been an on-going process with every country since WWII. Trade policies with Canada and Mexico were rewritten under trumps first presidency. And a decade before there was NAFTA. We’ve had many revisions with Europe - especially when the European countries became one be trading country. These policies are not just causing rough patches. It’s a cluster f*ck.
Nobel Prize-Winning Economist Warns of Trump Recession - Newsweek
Live Today: Nobel Laureate Economist Paul Krugman on Trump Tariffs
16 Nobel Prize-winning economists say Trump policies will fuel inflation | Reuters
Trump made the idiot statement that manufacturing plants that build car parts will be coming back to the US within MONTHS. It takes YEARS to build a new plant even if permits are expedited. And not to mention that the materials needed to build these plants are IMPORTED. 10%-15% will be the MINIMUM increase of ALL car prices. This could all escalate even higher.
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Additionally, any new factories that are built–after a minimum of 3-4 years–would be highly-mechanized, and robots would be doing the vast majority of the work, meaning that “new” job creation would be minimal.
When the current Commerce Secretary was confronted on that reality by Margaret Brennan, his response was that some mechanics would be necessary to repair the robots. Ergo–minimal job growth.
This is the same simpleton who, when asked about the rationale for placing tariffs on uninhabited islands that have no imports or exports, his response was “we’re closing loopholes”. Yeah, we really have to worry about those Penguins unleashing exports on The US.
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I think MUCH worse. Stock market has already lost $4 TRILLION since tariffs announced.
It looks like today’s trading is going to result in more losses, unfortunately.
Yeah terrible. As reported, the upper 10% own 88% of the market. The bottom 50% only 10%. So this is not really a factor for minimum wage folks. But the word is buy.
Stock prices? No. Paying more for everything? BIG FACTOR.
About 40% of the US population does not own any stocks–either directly or through mutual funds. Those folks probably couldn’t care less about the plummeting stock market, but I can guarantee that they care about increases of 10%–or more–in the price of their groceries, clothing, car parts, and other necessary items.
Yep maybe all those made in China products at home depot will be more expensive.
The toro ceo at the time was a classmate. At a reunion I told him I bought a toro blower because I wanted one made in the USA, like windom, Mn. Then I got it home and the engine was made in China and the housing was made in Mexico. He just said yeah, they have to be competitive. I wouldn’t have minded paying a few hundred more if I had a choice.
That’s fine and I applaud you for your stance but what you’re missing is that these Tariffs and Counter-Tariffs are making everything more expensive for everyone.
We slap a broad 10% Tariff on a Canadian products and you’re 10% out of pocket.
In retaliation Canada slaps a broad 10% Tariff on American products and now we’re 10% out of pocket.
Governments on both sides of the Border “have placed their thumbs on the scale” and the only one’s who pay are the Consumers and the only ones who gain from what isan indirect tax are the Tax Men.
I support Fair Trade and Targeted Tariffs when one side isn’t playing fairly but this foolishness of Broad Tariffs will accomplish nothing except to make us all poorer.
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You make it sound like it’s only China. EVERY country’s imports will be taxed at 10%, minimum, with many much higher:
You seem to think that is a good thing ! Everything is going to be more expensive and while some of us can servive that many people will really have to make big changes to their lifestyle . Not even counting the people who are now or going to be out of work.
All because of a person who could not even make Casinos stay open.
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HUH? You learn that from taking an Economics class at Trump University. The lower wage earners are disproportionately affected by a downturn in the stock market. Downturn in stock market triggers a recession and with that - massive layoffs and/or lower wages. This was clearly demonstrated in the 29 Crash and the more recent crash under Bush Jr.
Stock market down-turn effects peoples 401K’s which is people’s retirement.
The ONLY people who will benefit from this stock-market loss is the wealthy. Billionaires LOVE a down turn in the market. It gives them the opportunity to buy failing businesses and farms for pennies on the dollar.
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The latest news is that “he” may impose a 104% tariff on Chinese-made goods, which would more than double the price of those products. At that point, I seriously doubt if people with lower incomes could afford to buy any of the goods sold by Walmart, Home Depot, and other mass merchandisers.
Even for those with higher incomes, this is nothing more and nothing less than a very high federal sales tax, and the resulting increase in inflation could be crushing to many people’s financial situations.
New and reliable do not beling in the same sentence. Even the former darling of reliability, Toyota is junk now. The new prius may be ok but unaffordable now due to the additional taxes on them since they are made in Japan.
My most reliable vehicle is an 89 caprice, COLD r12 ac, it can cruise almost silently or bark the tires when I get a little froggy.
Even the typically poor performing disc brakes are great on it since the rotors are a big ol hunk of iron, not thin junk rotors.