Donald Trump's latest tariff war emerges from a decades-long personal belief that America's trading partners are "pickpockets" who must be punished, rather than from conventional economic strategy.
Josh Marshall at TPM also summed it up nicely: in a normal business agreement each side profits, but Trump is pure zero-sum-game, so he isn't winning unless the other side is losing. The US has still profited when other countries enact their own tariffs, because by keeping our markets open we act as custodians of the world market and everyone wants to do business here-- the US Dollar is the de facto world reserve currency. Trump and some of his advisors think the new tariffs will rebuild US manufacturing, maybe so, but other countries will not stand for being arbitrarily punished forever, they will find a way out at the first chance, they may cut a short term deal with Trump but that's just to buy time while looking for other options.
Of course with current levels of automation, onshoring manufacturing to the US won't really improve the economy for people unless we increase wages, presumably by increasing the minimum wage and encouraging union membership. Of course that is not part of the plan.
there are other ways to improve the economy, but they're all "socialist."
for instance, public healthcare so we don't have to sink our wages into it. a pension paid for by taxes so we don't have to pay into social security. free tuition for higher education. huge investments in public transportation to reduce what we send on cars. regulation of housing to get private equity out of rentals. etc.
we should raise wages, but we should also reduce the importance of wages. money should be primarily about luxury, not survival.
"Wanna do business with me? Well, it's gonna cost ya, see?"
Plus, he gets to inflict pain on those Americans who oppose him.
Of course, his own cult gets hurt, too, but why should he GAF? He *already* got their votes, and that's all he needed them for. Now that he is back in office,, he **will** commit all manner of fuckery to make sure he *stays* there.
Hell, I wouldn't be surprised if he kicks out Shady Vance and names Jr. as his veep... then proclaims himself to be King Donald the Magnificent.
Matt Parker over at Stand-up Maths has gone into the 'thinking' behind the tariffs and it is every bit as dumb, mathematically illiterate and half-arsed as you might have thought:
Only problem w/ this article is you need to replace "America's closest allies" with "everyone who isn't him".
Josh Marshall at TPM also summed it up nicely: in a normal business agreement each side profits, but Trump is pure zero-sum-game, so he isn't winning unless the other side is losing. The US has still profited when other countries enact their own tariffs, because by keeping our markets open we act as custodians of the world market and everyone wants to do business here-- the US Dollar is the de facto world reserve currency. Trump and some of his advisors think the new tariffs will rebuild US manufacturing, maybe so, but other countries will not stand for being arbitrarily punished forever, they will find a way out at the first chance, they may cut a short term deal with Trump but that's just to buy time while looking for other options.
https://talkingpointsmemo.com/edblog/wtaf-is-going-on-in-search-of-the-plan-behind-trumps-global-economic-crisis/sharetoken/8abbc6ca-2447-4a56-ad97-541a2dcfbfec
Of course with current levels of automation, onshoring manufacturing to the US won't really improve the economy for people unless we increase wages, presumably by increasing the minimum wage and encouraging union membership. Of course that is not part of the plan.
there are other ways to improve the economy, but they're all "socialist."
for instance, public healthcare so we don't have to sink our wages into it. a pension paid for by taxes so we don't have to pay into social security. free tuition for higher education. huge investments in public transportation to reduce what we send on cars. regulation of housing to get private equity out of rentals. etc.
we should raise wages, but we should also reduce the importance of wages. money should be primarily about luxury, not survival.
# ...pure Trump unleashed.
.
He's a wannabe Mob Boss.
These tariffs are *extortion*, pure and simple:
"Wanna do business with me? Well, it's gonna cost ya, see?"
Plus, he gets to inflict pain on those Americans who oppose him.
Of course, his own cult gets hurt, too, but why should he GAF? He *already* got their votes, and that's all he needed them for. Now that he is back in office,, he **will** commit all manner of fuckery to make sure he *stays* there.
Hell, I wouldn't be surprised if he kicks out Shady Vance and names Jr. as his veep... then proclaims himself to be King Donald the Magnificent.
Matt Parker over at Stand-up Maths has gone into the 'thinking' behind the tariffs and it is every bit as dumb, mathematically illiterate and half-arsed as you might have thought:
https://www.youtube.com/watch?v=j04IAbWCszg
Another trillion plunge on Monday 4/7/2025.