Trump tariffs: ruin U.S. economy until 2040

[Anonymous]

Anonymous wrote:

Buckle up folks.
Straight back to the 1890s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you guys looking at the market right now?

It’s crashing.

Trump's announcement that tariffs are on is why.

Trump says Canada, Mexico tariffs to take effect on Tuesday; stocks tumble
U.S. President Donald Trump said on Monday that 25% tariffs on goods from Mexico and Canada will definitely take effect on Tuesday, raising fears of a trade war in North America and sending financial markets reeling.
https://www.reuters.com

Related news headlines and stories from Reuters:

Trump trade threats compound global ocean shipping uncertainty
https://www.reuters.com/markets/commodities/trump-trade-threats-compound-global-ocean-shipping-uncertainty-2025-03-03/

Trump alerts American farmers: get ready for external tariffs April 2
https://www.reuters.com/world/us/trump-alerts-american-farmers-get-ready-external-tariffs-april-2-2025-03-03/

US companies announce layoffs to cut costs
https://www.reuters.com/business/factbox-us-companies-announce-layoffs-cut-costs-2025-02-26/

[Anonymous]

Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Buckle up folks.
Straight back to the 1890s.

Yup, they want the gilded age and its corruption, greed, and lack of regulations for business owners.

[Anonymous]

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

No they won’t. Demand will dry up.

[Anonymous]

[Anonymous]

The WSJ editorial board is once again calling Trump’s tariffs “dumb.”

Trump takes the dumbest tariff plunge
https://apple.news/A5Ld_VE2aSia5-jNTxqcpyw

[Anonymous]

Anonymous wrote:

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

No they won’t. Demand will dry up.

Exactly, these tariffs will have a negative effect on purchases, and this effect will vary demanding on how elastic/inelastic demand is for a certain good. For goods with an inelastic demand (oil I would assume), the demand will fall but by a smaller percentage that the increase in price (ie 25% increase in price may lead to a 20% decrease in demand). However, since demand for many good is also elastic, then the decrease will be larger than the price changes (say a 25% increase in price will lead to a 30% change in demand).

These tariffs may raise some revenue, but it will be way less and will be offset by the decrease in demand. Economics 101. The harm that this will do to the US and global economy overall is substantial.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lot of talk that Trump’s policies will be good for the economy.

Interesting paper here that runs the numbers.

It’s not good.

Be interested for a Trump voter to provide detail on how the Trump policy will improve our economy.


“We find that these steps would result in lower US national income, lower employment, and higher inflation than otherwise. In some cases, economic conditions recover over time, but in others the damage continues through 2040.

And despite Trump’s “America first” rhetoric, these policies would harm the US economy more than any other in the world, particularly trade-exposed sectors such as manufacturing and agriculture. In some cases, other countries would enjoy stronger economic growth than otherwise after receiving inflows of capital leaving the United States.”

https://www.piie.com/blogs/realtime-economics/2024/how-much-would-trumps-plans-deportations-tariffs-and-fed-damage-us

As an economist, I voted for Harris because I read the economic policies Trump & Co shared and they were nonsensical and going to be very bad for our economy, short-term and long-term. He has no understanding of tariffs or what causes inflation. The people he surrounds himself with also don't know.

Vote these fools out asap.

Really don’t get what the endgame is here. They could not be damaging the U.S. economy more if they tried. They are doing absolutely everything possible to increase unemployment, inflation, and uncertainty.

So maybe they are intentionally doing this? It makes no sense otherwise.

They are.

This was before the election.

“Elon Musk admitted that he knows that Donald Trump’s policies would crash the economy if he’s elected president, but thinks that the price is worth it.”

The price is worth it because…the goal is…? What exactly? What does a “healthier” economy mean?

I still don’t get it.

No one gets it and no one is interrogating it.

Trump has dementia. Elon is drugged out of his mind. Vance can almost touch the golden ring he so desperately desires and won’t speak up. The GOP wants tax cuts first.

There really should more attention on the fact that they're trying to hide the damage to the economy by messing with GDP indicators, too.

I don’t disagree that there will be shenanigans. But remember that during W’s Great Recession no one needed government charts to see the damage.

Trump’s recession may actually be on track to be a depression. And all because he is salty about not getting reelected in 2020.

Bush and Trump the two dumbest Presidents ever, so much winning.

[Anonymous]

It’s very bleak.

Leon and Manbaby want to destroy our economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

No they won’t. Demand will dry up.

Exactly, these tariffs will have a negative effect on purchases, and this effect will vary demanding on how elastic/inelastic demand is for a certain good. For goods with an inelastic demand (oil I would assume), the demand will fall but by a smaller percentage that the increase in price (ie 25% increase in price may lead to a 20% decrease in demand). However, since demand for many good is also elastic, then the decrease will be larger than the price changes (say a 25% increase in price will lead to a 30% change in demand).

These tariffs may raise some revenue, but it will be way less and will be offset by the decrease in demand. Economics 101. The harm that this will do to the US and global economy overall is substantial.

It will also cause inflation to plummet and the Fed will reduce rates, which will send the stock market skyrocketing.

[Anonymous]

LOL...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

No they won’t. Demand will dry up.

Exactly, these tariffs will have a negative effect on purchases, and this effect will vary demanding on how elastic/inelastic demand is for a certain good. For goods with an inelastic demand (oil I would assume), the demand will fall but by a smaller percentage that the increase in price (ie 25% increase in price may lead to a 20% decrease in demand). However, since demand for many good is also elastic, then the decrease will be larger than the price changes (say a 25% increase in price will lead to a 30% change in demand).

These tariffs may raise some revenue, but it will be way less and will be offset by the decrease in demand. Economics 101. The harm that this will do to the US and global economy overall is substantial.

It will also cause inflation to plummet and the Fed will reduce rates, which will send the stock market skyrocketing.

Yes, this is the real reason for all of this. Lower interest rates are at the heart of Elon's project. That is his main goal.

All the DOGE silliness, like putting thousands of people out of work and terrorizing them and destroying the government, is just a fun effect.

[Anonymous]

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

It no one is buying, how who will send goods to the US?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Serious question. These tariffs are going to generate huge revenues for the Federal government. Where does the money go and what does it get spent on? Is there a general account for customs and tariff revenues?

No they won’t. Demand will dry up.

Exactly, these tariffs will have a negative effect on purchases, and this effect will vary demanding on how elastic/inelastic demand is for a certain good. For goods with an inelastic demand (oil I would assume), the demand will fall but by a smaller percentage that the increase in price (ie 25% increase in price may lead to a 20% decrease in demand). However, since demand for many good is also elastic, then the decrease will be larger than the price changes (say a 25% increase in price will lead to a 30% change in demand).

These tariffs may raise some revenue, but it will be way less and will be offset by the decrease in demand. Economics 101. The harm that this will do to the US and global economy overall is substantial.

It will also cause inflation to plummet and the Fed will reduce rates, which will send the stock market skyrocketing.

Yes, this is the real reason for all of this. Lower interest rates are at the heart of Elon's project. That is his main goal.

All the DOGE silliness, like putting thousands of people out of work and terrorizing them and destroying the government, is just a fun effect.

I thought lower mortgage rates (lower cost of housing) and lower inflation rates were a good thing though? Do Dems want expensive housing and high inflation now? I can’t keep up.