Trump Tax

[bsm2]

Bernie Sanders @SenSanders
·
Follow
Trump’s unilateral decision to impose a 25% tariff on Canada and Mexico is most likely illegal and most definitely harmful.

Economists estimate that these will increase costs for the average American family by as much as $1,200 a year.

We need to drive prices DOWN, not UP.
12:29 PM · Feb 2, 2025

[SalesServiceGuy]

...

image.png

[bsm2]

Trump’s New 10 Percent Tariffs on Chinese Goods Begin
President Trump’s 10 percent tariff on all Chinese products went into effect at 12:01 a.m. Tuesday, the result of an executive order that he said was aimed at pressuring Beijing to crack down on fentanyl shipments into the United States.

The Chinese government swiftly announced a series of retaliatory steps, including additional tariffs on coal, natural gas, farm machinery and other products from the United States.

[bsm2]

[bsm2]

The Auto Industry Emerges From The Tariff War With Just A Flesh Wound Plus, Scout's direct sales model draws legal scrutiny from dealers, and Californians vote out Tesla with their wallets.

[bsm2]

This is Great News

[COLOR=#1665cf !important]Another form of inflation, just spelled differently"[/COLOR]: Tariffs on imported items mean American consumers can expect to pay an additional $2,500 to $7,600 a year per household, according to estimates. For example, experts say a $50 pair of athletic shoes would cost $59 to $64.

[bsm2]

President Trump’s China Tariffs to Raise Cost of Bibles Price increase comes as sales of Bibles, many printed in China, are also rising


Hilarious

[bsm2]

Meanwhile, U.S. car prices could rise even mores sharply if Mr. Trump proceeds with 25% tariffs on all Mexican and Canadian imports, now subject to a 30-day pause as officials negotiate. The impact of those tariffs would add $6,250 to the average $25,000 price of a car shipped into the U.S. from those two countries, according to an analysis by S&P Global Mobility.

[bsm2]

China targets US farm equipment with latest tariffs Mowers and combines are among the more than 50 types of agricultural goods affected by increased export duties.


I wonder how long before layoffs start?

[bsm2]

Seven Charts Showing How Canada/Mexico Tariffs Would Harm the US Auto Industry (and American Car Buyers)




https://www.cato.org/blog/seven-char...-auto-industry

[bsm2]

[bsm2]

Dow, S&P 500, Nasdaq wipe out Trump-led gains as tariff sell-off continues

[bsm2]

Ontario will slap a 25% export tax on electricity it sends to 1.5 million homes in Minnesota, Michigan and New York in retaliation for U.S. tariffs, said Doug Ford, leader of the Canadian province.
Ford added that he will direct energy producers to shut down the exports entirely if President Trump moves ahead with more tariffs on April 2. He said he would have energy from an Ontario nuclear reactor redirected to local manufacturers instead.

“President Trump underestimates the Canadian people,” Ford stated. He said Ontario also stood ready to stockpile the nickel the province’s miners usually sell to the U.S.

Canada sells roughly 50% of the nickel it produces to U.S. companies and the Department of Defense. “He’s going to wake up real quickly about our critical minerals,” said Ford.

[bsm2]

[BillyCarpenter]

I'll be honest, I'm not positive how the tariffs will turnout but I do know that Canada is in panic.