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Trump raises tariffs to 15% day after Supreme Court ruling

https://www.bbc.co.uk/news/articles/cn8z48xwqn3o
19•rwmj•1h ago

Comments

JumpCrisscross•1h ago
The wild thing is Republicans would probably keep the House if Miller et al let the illegal tariffs expire. The tax cut would probably even give the Fed room to cut rates. Not sure who in the White House is most directly pushing for these. But they're clearly hurting both America and Trump.
AnimalMuppet•1h ago
I don't think they're going to lose the House over just one thing. The economy feels fundamentally broken in some sense that doesn't seem to show up in statistics. (Affordability plus job mobility, maybe?) Tariffs are only a part of that. But there's also the brutality and thuggishness of the ICE crackdown. There's the rule by executive order, sidelining Congress. There's the constant trampling of norms and precedent (and even the Constitution). There's the rampant egomania and attention-seeking. There's the corruption and graft. There's the rambling, disjointed speech that makes one wonder if he's all there. There's Epstein. There's the "peace president" attacking Venezuela and threatening to go to war against Iran. There's the incompetence and buffoonery of the Cabinet.

It just goes on and on and on. Cutting tariffs is not going to be anywhere near enough to save the Republicans in the midterms.

metalman•55m ago
you can add in that the trip to China next month will be eventless, as whatever wildly dirty deal they want from Zi will be politely ignored, some sort of cringe thing trying to trade looking the other way on Taiwan for stabbing Russia in the back, or worse.
CamperBob2•3m ago
The economy feels fundamentally broken in some sense that doesn't seem to show up in statistics.

Turns out that it's amazing what you can do for the economy simply by putting your cronies in charge of the numbers.

If these people tell you that 2+2=4, you should double-check with two calculators and Wolfram Alpha.

Hikikomori•1h ago
Peter Navarro is the tariff lover, probably told stories about tariff golden age of old to trump. Lutnick seems to like them as a tool to enrich himself.
lysace•1h ago
This man is not well.
CamperBob2•11m ago
The country that elected him twice is also not well.
7777777phil•49m ago
Section 122 caps at 15% and expires in 150 days without Congress. So I would assume this is a "negotiating position", not a trade regime.

I'm more interested to see how the Fed reads it, since tariffs map directly into cost-push shocks that force a dual mandate tradeoff between inflation and employment. Covered this angle recently: https://philippdubach.com/posts/dual-mandate-tensions/

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