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[Official] US announces new tariffs on most countries

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Reply 780

Original post
by mqb2766
Federal Court blocks most of trumps tariffs, ruling that he doesn/tdidnt have the authority.
https://www.theguardian.com/us-news/2025/may/28/us-court-blocks-trump-tariffs
So there weren't really emergencies such that the us needed safeguarding by trump by imposing tariffs. Seems like he was making that bit up. Penguin party!
penguin.jpg

"Seems like he was making that bit up."
Applies to pretty much everything he says.

Reply 781

Original post
by 2WheelGod
"Seems like he was making that bit up."
Applies to pretty much everything he says.

Sure, its usual/straight out of the demagogue playbook "everythings bad and only I can fix it" that he trots out at any opportunity.

Reply 782

Original post
by 2WheelGod
Perhaps you missed my earlier post about the 7.5 million results when Googling news reports on "Europe economic growth" over the last week?
As I also said earlier, the facts do not care about your opinions.

Yet only 7.2 million results when searching for '"Europe economic growth" slow'

Reply 783

Even with all the uncertainty about what tariffs will be implemented (and whether the courts will rule that trumps executive orders are constitutional), they're forecast to reduce us (and global) growth over the next two years. I guess trump/vance will have to blame "bidens economy" right up to the midterms.

"Global economic growth is set to be slower this year largely because of Donald Trump's US tariffs, according to a leading international policy group.
Worldwide growth is now expected to slow to 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).
It blamed a "significant" rise in trade barriers for the downgrade and warned that "weakened economic prospects will be felt around the world, with almost no exception".
...
The OECD also lowered its outlook for US economic growth this year, from 2.2% to 1.6%, before slowing again in 2026."
https://www.bbc.co.uk/news/articles/cq69j753egeo

Reply 784

Once again a plain example that shows protectionist policies don't work and ramp up costs for businesses and consumers alike. All this does is increase the difficulty of doing business with America and discourages other countries from trading with them.

Some of the countries affected by these measures are long terms strategic allies with the USA. Weakening your own ally economically, what a really great beautiful idea.

Reply 785

Original post
by mqb2766
Even with all the uncertainty about what tariffs will be implemented (and whether the courts will rule that trumps executive orders are constitutional), they're forecast to reduce us (and global) growth over the next two years. I guess trump/vance will have to blame "bidens economy" right up to the midterms.
"Global economic growth is set to be slower this year largely because of Donald Trump's US tariffs, according to a leading international policy group.
Worldwide growth is now expected to slow to 2.9%, down from a previous forecast of 3.1%, said the Organization for Economic Co-operation and Development (OECD).
It blamed a "significant" rise in trade barriers for the downgrade and warned that "weakened economic prospects will be felt around the world, with almost no exception".
...
The OECD also lowered its outlook for US economic growth this year, from 2.2% to 1.6%, before slowing again in 2026."
https://www.bbc.co.uk/news/articles/cq69j753egeo

OK, so good news then...

Reply 786

Original post
by ErasistratusV
Once again a plain example that shows protectionist policies don't work and ramp up costs for businesses and consumers alike. All this does is increase the difficulty of doing business with America and discourages other countries from trading with them.
Some of the countries affected by these measures are long terms strategic allies with the USA. Weakening your own ally economically, what a really great beautiful idea.

Good?

Reply 787

Musk doesnt seem to believe that tariffs/doge will (re)fund the tax cuts. Rather the tax cuts will be funded by adding to the budget deficit. The bill also allows trump to borrow even more money.

Musk calls Trump's tax bill a 'disgusting abomination'
https://www.bbc.co.uk/news/articles/c0j76djzgpvo
"In a series of posts on X on Tuesday, Musk said that the "outrageous, pork-filled" spending bill will "massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America [sic] citizens with crushingly unsustainable debt"."

Also us manufacturing contracted for the third consecutive month:
Oof! Economic activity in the US manufacturing sector contracted in May for the third consecutive month, as factories were hit by a slump in export orders.
https://www.theguardian.com/business/live/2025/jun/02/china-accuses-us-seriously-violating-trade-war-truce-stock-markets-dollar-oil-house-prices-business-live

Reply 788

Original post
by mqb2766
Musk doesnt seem to believe that tariffs/doge will (re)fund the tax cuts. Rather the tax cuts will be funded by adding to the budget deficit. The bill also allows trump to borrow even more money.
Musk calls Trump's tax bill a 'disgusting abomination'
https://www.bbc.co.uk/news/articles/c0j76djzgpvo
"In a series of posts on X on Tuesday, Musk said that the "outrageous, pork-filled" spending bill will "massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America [sic] citizens with crushingly unsustainable debt"."
Also us manufacturing contracted for the third consecutive month:
Oof! Economic activity in the US manufacturing sector contracted in May for the third consecutive month, as factories were hit by a slump in export orders.
https://www.theguardian.com/business/live/2025/jun/02/china-accuses-us-seriously-violating-trade-war-truce-stock-markets-dollar-oil-house-prices-business-live

As if anyone listens to Musk anyway, the guy is a liability. Being a billionaire doesn't necessarily give you the smarts to comment on economics or run a government. I should think that would be patently obvious by now. Or was this just another rant summarised in 140 characters or less?

Reply 789

Original post
by ErasistratusV
What are you about?
Was my statement in any way problematic or difficult to understand? I mean you're replied twice to it. Is English your first language?

You quoted me here from my post #785.
There I wasn't quoting you, I was quoting another poster.

I quoted you in post #786.

So how have I replied to your statement twice?

Reply 790

Original post
by Quady
You quoted me here from my post #785.
There I wasn't quoting you, I was quoting another poster.
I quoted you in post #786.
So how have I replied to your statement twice?

Good?

Reply 791

Original post
by ErasistratusV
Good?

What are you about?
Was my statement in any way problematic or difficult to understand? I mean you're replied twice to it. Is English your first language?

Reply 792

Original post
by Quady
What are you about?
Was my statement in any way problematic or difficult to understand? I mean you're replied twice to it. Is English your first language?

Play the ball, not the violin. Or something.

Reply 793

Original post
by 2WheelGod
Play the ball, not the violin. Or something.

Indeed.

Reply 794

Original post
by mqb2766
Musk doesnt seem to believe that tariffs/doge will (re)fund the tax cuts. Rather the tax cuts will be funded by adding to the budget deficit. The bill also allows trump to borrow even more money.
Musk calls Trump's tax bill a 'disgusting abomination'
https://www.bbc.co.uk/news/articles/c0j76djzgpvo
"In a series of posts on X on Tuesday, Musk said that the "outrageous, pork-filled" spending bill will "massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America [sic] citizens with crushingly unsustainable debt"."
Also us manufacturing contracted for the third consecutive month:
Oof! Economic activity in the US manufacturing sector contracted in May for the third consecutive month, as factories were hit by a slump in export orders.
https://www.theguardian.com/business/live/2025/jun/02/china-accuses-us-seriously-violating-trade-war-truce-stock-markets-dollar-oil-house-prices-business-live

Musk and Trump fighting isn't really about the Big Beautiful Bill. Everyone knew Republicans would borrow trillions to fund their tax cuts. It happened during Trump's first presidency. It was clear in Republican policy circles in the run up to the election that it would happen again. Despite this, Musk was happy to bankroll Trump.

It is just two toddlers with massive but fragile egos falling out.

Now we have Trump stating Musk should lose his federal contracts.

Meanwhile Musk, after being given unprecedent access to government information, is insinuating Trump is a child sex offender.

Reply 795

As my original post instantly disappeared. A shorter version:

It is hilarious to see Trump and Musk having this fallout.

And maybe, just maybe, Trump handing Musk the keys to the federal computers before their fallout was not a very smart move.

Reply 796

Original post
by Gazpacho.
As my original post instantly disappeared. A shorter version:
It is hilarious to see Trump and Musk having this fallout.
And maybe, just maybe, Trump handing Musk the keys to the federal computers before their fallout was not a very smart move.

I thought it had peaked with trump doing a poor impression of basil fawlty with the german chancellor, but that was just the warm up.

Edit - fully agree about (re)funding the tax cuts. Trump was always going to borrow more money/bump up the deficit. Doge was never going to deliver the sums talked about and tariffs seemed to be a way to (try to) sell his numbers to the republicans. They are forecast to lower us and global growth, reduce us exports as happened with china in the first term, have a limited effect on bringing manufacturing jobs back to the us, ... It probably goes without saying that the main beneficiary has been trump with the new golf courses, hotels being offered to be built in far away places, and of course the tax cuts (for the well off) which was the driver of this stuff in the first place.
(edited 7 months ago)

Reply 797

Original post
by Gazpacho.
As my original post instantly disappeared. A shorter version:
It is hilarious to see Trump and Musk having this fallout.
And maybe, just maybe, Trump handing Musk the keys to the federal computers before their fallout was not a very smart move.

It was probably moderated. Some of my posts have the same effect then I receive a notification that it was approved or decline few hours later.

Reply 798

Original post
by Gazpacho.
Musk and Trump fighting isn't really about the Big Beautiful Bill. Everyone knew Republicans would borrow trillions to fund their tax cuts. It happened during Trump's first presidency. It was clear in Republican policy circles in the run up to the election that it would happen again. Despite this, Musk was happy to bankroll Trump.
It is just two toddlers with massive but fragile egos falling out.
Now we have Trump stating Musk should lose his federal contracts.
Meanwhile Musk, after being given unprecedent access to government information, is insinuating Trump is a child sex offender.

It is not a good look and it would be foolish for Trump/Republicans to fight Musk. Trump has 3.5 years left in the WH, but Musk potentially has decades to destroy the Trump family.

Although he has denied it, i think the EV mandate is probably Musk’s pain point. He overreacts when his interests are not protected.

If Trump is a dodgy Epstein-ally as claimed by Musk, it must be investigated. We must protect women at all costs.

Reply 799

Original post
by Gazpacho.
Musk and Trump fighting isn't really about the Big Beautiful Bill. Everyone knew Republicans would borrow trillions to fund their tax cuts. It happened during Trump's first presidency. It was clear in Republican policy circles in the run up to the election that it would happen again. Despite this, Musk was happy to bankroll Trump.
It is just two toddlers with massive but fragile egos falling out.
Now we have Trump stating Musk should lose his federal contracts.
Meanwhile Musk, after being given unprecedent access to government information, is insinuating Trump is a child sex offender.

I wonder if the MAGA Republicans will continue to retweet Musk's posts, or suddenly decide he isn't the genius saviour they claimed he was? 🤔

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