Futures Down 1000 points on fears tariffs will spark trade war

[bjl584]

Stock market today: live updates Trump tariffs

[kork13]

Kinda makes me want to pay more attention & look for deals as more 'bad days' continue to pile up. We haven't quite crossed into "really bad day" territory, where it becomes a buyer's playground ... But we may yet get there.

Alas, I'm too busy to pay closer attention to how the politicians & blowhards are messing with the economy. Gratefully, my automatic purchases are still set to keep buying more every week. I'll ride the market down, and ride it right back up whenever things settle.

[disneysteve]

You can’t enact the largest peacetime tax increase in history without a significant impact on the economy.

[ua_guy]

The market opened with a bit of a thud this morning. Let's see if the tariffs are still real 2 days from now. All of this is so un-serious, like the islands we tariff'd, which don't actually produce anything.

[kork13]

In fairness, many countries impose universal tariffs upon all imported goods. For example, Japanese grocery stores all have an "imported foods" section, wherein you can buy American, Australian, & Korean products for roughly double the cost of a comparable domestic product. (Oddly, I've found that condiments like ketchup, mustard, and mayo offer great comparisons).

So I can see some legitimacy to imposing tariffs relative to the tariffs charged by other countries in our exports. I think a large problem is just that they're being imposed suddenly & wantonly, then getting walked back, then reimposed. Market economies loathe chaos & uncertainty & unreliability.... Which is exactly what's happening right now.

[ua_guy]

Is anyone else curious why Russia and/or North Korea are not listed in the "Liberation Day" taxes?

[james.hendrickson]

Is anyone else curious why Russia and/or North Korea are not listed in the "Liberation Day" taxes?

This is, in fact, a very good question.

[disneysteve]

Is anyone else curious why Russia and/or North Korea are not listed in the "Liberation Day" taxes?

I’m not curious at all. That’s not a surprise in any way. However he did impose tariffs on some uninhabited islands in Australia so I’ll sleep better knowing that.

[kork13]

I'm more confused by his use of the term "Liberation Day" .... That is the name of a very specific holiday where i grew up (Guam), which is a bigger celebration than New Year's or July 4th. Instead he's misappropriating it to designate when he's launching massive tariffs?? I'm low-grade offended... Lol

[bjl584]

Is anyone else curious why Russia and/or North Korea are not listed in the "Liberation Day" taxes?

Same with Belarus and Cuba
Countries that already have heavy sanctions imposed on them were excluded due to the fact that there is no meaningful trade with those countries currently.

[ua_guy]

Same with Belarus and Cuba
Countries that already have heavy sanctions imposed on them were excluded due to the fact that there is no meaningful trade with those countries currently.

That's a good story, however, suspect. There are other countries included in the tariffs which are also under heavy US sanctions. We do actually trade with Russia even with sanctions in place. Is $3 Billion annually not "meaningful" to you?

And what about the places that are tariffed where there is absolutely no trade? Do penguins owe tariffs even if they don't export anything? Asking for a friend, of course.