Trump 2.0 official thread

[FriedButter]

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Most companies are already raising prices or plan to because of tariffs, data shows​

Data from the New York Federal Reserve shows a majority of companies have passed along at least some of President Donald Trump’s tariffs onto customers, the latest in a growing body of evidence indicating the policy change is likely to stretch consumers’ wallets.

In May, about 77% of service firms that saw increased costs due to higher U.S. tariffs tariffs passed through at least at least some of the rise to clients, according to a survey conducted by the New York Fed that was released Wednesday. Around 75% of manufacturers surveyed said the same.

In fact, more than 30% of manufacturers and roughly 45% of service firms passed through all of the higher cost to their customers, according to the New York Fed’s statics.

Price hikes happened quickly after Trump slapped steep levies on trading partners, whether large or small. More than 35% of manufacturers and nearly 40% of service firms raised prices within a week of seeing tariff-related cost increases, according to the survey.

Trump announced in early April that he would impose “reciprocal” tariffs on more than 180 countries and territories, sending the stock market into a tailspin. But Trump soon rolled back or paused those levies for three months, unleashing the equity market to claw back most of its initial losses.

July deadline

Companies and investors alike are now looking to a July 9 deadline for the return of those suspended tariffs, coping in the meantime with continued confusion regarding to trade policy. The U.S. has already announced one trade deal with the United Kingdom, and Deputy Treasury Secretary Michael Faulkender said this week that the Trump administration is “close to the finish line” on some other agreements.

The New York Fed’s survey is the latest in a salvo of data releases and anecdotal reports that have shown companies’ willingness to pass down cost increases despite pressure from Trump not to do so.

Nearly nine out of 10 of the 300 CEOs surveyed in May said they have raised prices or planned to soon, according to data released last week by Chief Executive Group and AlixPartners. About seven out of 10 chief executives surveyed in May said they plan to hike prices by at least 2.5%.

Corporate executives have been careful in how they speak about the impact of Trump’s policies on their business, especially when it comes to trade, to avoid getting caught in the president’s crosshairs. Last month, for example, Trump warned Walmart
in a social media post that the retailer should “eat the tariffs” and that he would “be watching.”

Consequently, survey data and anonymous commentary offer insights into how American business leaders are discussing the tariffs behind closed doors.

“The administration’s tariffs alone have created supply chain disruptions rivaling that of Covid-19,” one respondent said in the Institute for Supply Management’s manufacturing survey published Monday.

Another respondent said “chaos does not bode well for anyone, especially when it impacts pricing.” While another pointed to the agreement between the U.S. and China to temporarily slash tariffs, they said the central question is what the landscape will look like in a few months.

‘Hugely distracting’

“We are doing extensive work to make contingency plans, which is hugely distracting from strategic work,” this respondent said. “It is also very hard to know what plans we should actually implement.”

Responses to the ISM service sector survey released Wednesday revealed a similar focus on the uncertainty stemming from controversial tariffs.

“Tariffs remain a challenge, as it is not clear what duties apply,” one respondent wrote. “The best plan is still to delay decisions to purchase where possible.”

In fact, more than 30% of manufacturers and roughly 45% of service firms passed through all of the higher cost to their customers, according to the New York Fed’s statics.

 

[Hyper]

Petrodollar and US-led global financial order down the drain LETSSSGOOOOOOOOOOO

https://twitter.com/i/web/status/1929897569532178563

Buddy is unaware of his own laws.
14th amendment section 4.

 

[zyklon]

Buddy is unaware of his own laws.
14th amendment section 4.

Funny thing is that not only does Senator Graham hold a graduate level degree in law, but spent over 30 years as a lawyer in the USAF and USAF Reserve.

Lindsey even deployed to Iraq to work on legal issues for American forces:

Not sure if Abu Ghraib was ever a matter the honorable gentleman from South Carolina worked on, but from the visuals, it looks like something that would've stroked his interest . . .

 

[manqiangrexue]

Funny thing is that not only does Senator Graham hold a graduate level degree in law, but spent over 30 years as a lawyer in the USAF and USAF Reserve.

We all need a woman who looks at us like Lindsay Graham looks at this dude... an actual woman, though, not a guy with a woman's name who may or may not have been victim to a cruel joke where someone slipped estrogen pills into his morning coffee every day.

 

[SlothmanAllen]

Everyone with a somewhat functioning brain already knows that China holds the upper hand in any manufacturing trade war. If the US wanted to come up with a plan to make itself less reliant on foreign inputs or finished goods it could have pursued a plan to do so. The problem is that a large portion of the US political class and population believes that the "free market" solves all problems. Which basically means that by removing government oversight or investment in a particular sector will automagically make the desired outcome manifest itself. You want to increase manufacturing output? Remove regulations and place tariffs on every nation and somehow your entire workforce will reconfigure itself overnight. Don't bother to question why it took China decades of government led support to get to a dominant manufacturing position today! For those that do question things, claim China only got to its current position by stealing from the ideas rest of the world and using slave labour to produce products at unfair price points.

These people are totally braindead. Honestly listening to the conversations and statements that come out of the Trump administration is exhausting. 99% of what they say is FUCKING RETARDED (I know that is not a great term, but I don't think the word stupid encapsulates how I feel regarding their statements and behaviour) and attempting to attach any logic to what they say will cause you to have a stroke.

Fuck these people.

 

[siegecrossbow]

Everyone with a somewhat functioning brain already knows that China holds the upper hand in any manufacturing trade war. If the US wanted to come up with a plan to make itself less reliant on foreign inputs or finished goods it could have pursued a plan to do so. The problem is that a large portion of the US political class and population believes that the "free market" solves all problems. Which basically means that by removing government oversight or investment in a particular sector will automagically make the desired outcome manifest itself. You want to increase manufacturing output? Remove regulations and place tariffs on every nation and somehow your entire workforce will reconfigure itself overnight. Don't bother to question why it took China decades of government led support to get to a dominant manufacturing position today! For those that do question things, claim China only got to its current position by stealing from the ideas rest of the world and using slave labour to produce products at unfair price points.

These people are totally braindead. Honestly listening to the conversations and statements that come out of the Trump administration is exhausting. 99% of what they say is FUCKING RETARDED (I know that is not a great term, but I don't think the word stupid encapsulates how I feel regarding their statements and behaviour) and attempting to attach any logic to what they say will cause you to have a stroke.

Fuck these people.

Probably an insult to the mentally challenged people of the world. To the best of my knowledge most of them are lawful morally upstanding citizens, which is more than I could say for the hive of snakes currently running the state department.

 

[SlothmanAllen]

Probably an insult to the mentally challenged people of the world. To the best of my knowledge most of them are lawful morally upstanding citizens, which is more than I could say for the hive of snakes currently running the state department.

Yeah, it was a poor choice word choice really. I just don't feel like I have the correct vocabulary to describe way I feel towards these people.

 

[Captainquirk]

Everyone with a somewhat functioning brain already knows that China holds the upper hand in any manufacturing trade war. If the US wanted to come up with a plan to make itself less reliant on foreign inputs or finished goods it could have pursued a plan to do so. The problem is that a large portion of the US political class and population believes that the "free market" solves all problems. Which basically means that by removing government oversight or investment in a particular sector will automagically make the desired outcome manifest itself. You want to increase manufacturing output? Remove regulations and place tariffs on every nation and somehow your entire workforce will reconfigure itself overnight. Don't bother to question why it took China decades of government led support to get to a dominant manufacturing position today! For those that do question things, claim China only got to its current position by stealing from the ideas rest of the world and using slave labour to produce products at unfair price points.

These people are totally braindead. Honestly listening to the conversations and statements that come out of the Trump administration is exhausting. 99% of what they say is FUCKING RETARDED (I know that is not a great term, but I don't think the word stupid encapsulates how I feel regarding their statements and behaviour) and attempting to attach any logic to what they say will cause you to have a stroke.

Fuck these people.

Not completely true.

What China has been doing is nation building. And in the beginning stages of development you need a strong central government. Look at how a weak central govt is hampering India’s development.

In developed countries, it’s better to have less regulation. Look at how all the regulations is hampering Europe.

 

[BillRamengod]

Apparently Yilong lost it.

https://twitter.com/i/web/status/1930336497208832059

https://twitter.com/i/web/status/1930338434415243739

why would he want to kill me? /j

 

[Michael90]

Chinese suppliers didn’t tell Walmart to fuck off.
Instead they still talking. So clearly they value the relationship. Eventual compromise for any relationship to work.

Agree. They are private businesses afterall. They need their business to keep working and growing or at least to survive.. Patriotism is secondary when it comes to private business and their survival.. Else the state should step in and provide some guaranteed purchases to keep them running for some time.