DAalseth
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China calls Trump's trade war a joke, jumps tariffs on U.S. goods to 125%
The US needs stuff from China more than China needs ANYTHING from the US.
I expect there may be exemptions for Amazon, Apple and Walmart. But the hundreds of thousands of small stores, local stores, regional stores, that are the heart of the economy will be massacred.
As someone pointed out yesterday, this whole scrap is above all making China look like the reliable, stable, rational, trustworthy partner. That is going to be the most harmful thing coming out of this for the US.
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Apple stock rocked for fourth day, despite brief signs of recovery
Louis Rukeyser liked to call it a Dead Cat Bounce.
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Apple stocks plummet, as Trump threatens 104% tariff on China
There are things that the US can only get from China.
China has markets other than the US that will buy its products and materials.
Trump is operating under the delusion that China needs the US more than the US needs China.
He is wrong about that.
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Apple stock bloodbath continues after China applies retaliatory tariffs
You a multimillionaire or something? The tax cuts won’t go to us. Didn’t last time, won’t this time. I work in taxes. The last round of Trump tax cuts left a good number of our clients in real trouble. They didn’t get any benefit from the tax cuts, but suddenly were facing huge bills from other ‘adjustments’ made to the code. Some had to sell farms, liquidate businesses, unload houses and move. It was brutal.lwr32 said:
Tax cuts mean more money in our pockets to spend, which in turn means more sales tax we’re paying. Where does the sales tax go?foregoneconclusion said:
LOL...are you aware of the infamous Smoot-Hawley Tariff Act? That was a bill that passed Congress and was signed by Hoover. Notice that it's CONGRESS that is levying the tariffs and not Herbert Hoover. Which means Trump doesn't have the power to levy tariffs under the Constitution either. The current administration is trying to claim that the national debt has created a national emergency that gives him the power to do it himself. But that is obvious b.s. considering Trump wants to make the $2 trillion tax cut from 2017 permanent + add trillions more in new tax cuts. All of that will explode the national debt to new heights.ilarynx said:
Not an option, according to the Constitution.foregoneconclusion said:The governor of California is going to call Trump’s bluff by ignoring the federal tariff and negotiate directly with other countries on tariffs. Seems like a decent strategy considering that the Trump tariffs are entirely dependent on the claim that the national debt has created a national emergency that gives the president the power to levy tariffs. In other words, the White House is likely violating the law and California is going to respond in kind.Article I, Section 8 of the U.S. Constitution explicitly says, “The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, … but all Duties, Imposts and Excises shall be uniform throughout the United States.”
I strongly recommend reading the U.S. Constitution. Frequently. You can't preserve, protect, or defend, something you don't know.
https://www.archives.gov/founding-docs
Basically CA is saying "if you're going to pretend to have the authority to negotiate tariffs by yourself then we're going to pretend that we can do that as well".
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BBC cries foul over lack of branding for its Apple News stories
I hope the BBC wins and nails Apple and Google to the wall. Quoting without attribution is simply theft. It’s not ok when AI scrapers do it, and it’s not ok when news aggregators do it, it’s not ok when a high school kid does it in a report. It’s just not ok.
