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#Economy

564 posts170 participants25 posts today
Public
Miguel Afonso Caetano

"The debate over whether to take Trump literally or seriously is over. He has now learnt how to be the tyrant he always wished to be. That took a while. But, with the help he has received, he is there. His administration is engaged in a comprehensive assault on the American republic and the global order it created. Under attack domestically are the state, the rule of law, the role of the legislature, the role of the courts, the commitment to science and the independence of the universities. All these were the pillars on which US freedom and prosperity rested. Now, he is destroying the liberal international order. Soon, I presume, Trump will be invading countries, as he proceeds to restore the age of empires.
(...)
It seems inevitable that these tariffs, plus the uncertainty created by the unanchored, and so unpredictable, new policy environment, will damage the world and US both now and in the longer term. Our economies are far more open than ever before. Sudden and huge increases in protection will have correspondingly bigger economic effects than before. Stock markets are surely right to guess that a good part of today’s productive capital stock will turn out to be scrap: continued market turmoil is likely.

This offers a perverse kind of hope. The attempt by Trump and his associates to undermine the republic would take time. It is now more likely that he will run out of it. Imagine that as a result of all this turmoil, the economy indeed falters and so the Republicans are hammered in the midterms. This would make the Maga project far more difficult to carry out. Who knows? US institutions might begin to show a little backbone. Above all, the next presidential election might actually be a fair one.

So long as Maga dominates the American right, the US potential for unpredictable, irrational and pernicious behaviour will remain. That is, alas, a huge gift to China."

ft.com/content/d96d4a44-2b75-4

Financial Times · Trump’s tariffs will damage the worldBy Martin Wolf
#USA#Trump#Tariffs
Public *
brettezeleliquide

Je coupe les taxes Et je remets les taxes Je coupe les taxes Et je remets les taxes Et je recoupe les taxes

J’adore

Les gens arrêtent de danser
Ils se demandent qui a coupé
Et ils commencent à négocier

J’adore
Regarder danser les gens
Je trouve ça fascinant
Au bar de l'Amérique du Nord
Regarder danser les gens
J’adore, j'adore, j'adore, j'adore, j'adore

Donald Tump / Philippe Katerine
#tariffs #trump #chanson #economy #politics

Public
Nonilex

#Trump on Wednesday paused for 90 days many #tariffs but is not halting 25% tariffs on automotive imports & looming tariffs on #auto parts, drawing criticism from #Michigan #business & auto groups.

The #Detroit Regional Chamber & #MichiganAuto called on Trump to protect the automotive industry's complex international #SupplyChain framework from harmful fragmentation that weakens its global competitiveness.

#economy
reuters.com/business/autos-tra

Public *
Yogthos

Trump said he “can’t imagine” increasing tariffs on China beyond the 125% he has imposed. Meanwhile, the Nasdaq celebrates his momentary pause like trained dogs, oblivious to the chaos that's yet to come.

The world watches, equal parts horrified and amused, as the empire’s fate rests in the hands of a man who governs by gut and greed.

wsj.com/livecoverage/stock-mar

#china#us#tariffs
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