zlacker

I find the "no one could have seen it coming" crowd extremely tiring, they usually always say that about something anyone who paid a tiny bit of attention could see coming.

It's genuinely baffling to me why business owners pay so little attention to the politics that will directly impact their business.

The entire tariffs thing was incredible obvious to me (I am Australian) and I only check in on US politics for 10 min a couple of times a month, any less and it would be zero.

>>chillf+(OP)
Trump in 1987 in a full page ad in the New York Times: "It's time for us to end our vast deficits by making Japan, and others who can afford it, pay. Our world protection is worth hundreds of billions of dollars to these countries, and their stake in their protection is far greater than ours. ... Tax these wealthy nations, not America. End our huge deficits, reduce our taxes, and let America's economy grow unencumbered by the cost of defending those who can easily afford to pay us for the defense of their freedom. Let's not let our great country be laughed at anymore."

Trump in 1989 talking to Diane Sawyer: "he would impose a 15% to 20% tariff on Japanese imports".

Trump in 2011 in his book "Time to Get Tough: Making America #1 Again": "I want foreign countries to finally start forking over cash in order to have access to our markets. So here’s the deal: any foreign country shipping goods into the United States pays a 20 percent tax. If they want a piece of the American market, they’re going to pay for it. No more free admission into the biggest show in town — and that especially includes China."

Trump at a rally in Vegas in 2011, referring to China: "Listen, you motherfuckers, we’re going to tax you 25%!"

Trump in 2018: If the Europeans are "not going to treat us fairly... then we're going to tax all those beautiful Mercedes-Benzes that are coming in."

Anyone who didn't think tariffs were coming is a fucking moron.

>>munifi+v9
Too harsh. Trump was president once before, and didn't impose 150% tariffs on anybody. You don't have to be a fucking moron to assume he'll behave similarly in his second presidency. Trump says a LOT of things that he doesn't end up doing.

>>bjt+Gd
He imposed quite a few high tariffs the first time, too.

https://en.wikipedia.org/wiki/Tariffs_in_the_first_Trump_adm...

>>chillf+(OP)
Did you buy options to trade on it?

>>bjt+Gd
Tariffs were a huge point of debate in his first administration. The government had to pay $30 billion to farmers to offset the impact of tariffs.

> China implemented retaliatory tariffs equivalent to the $34 billion tariff imposed on it by the U.S. In July 2018, the Trump administration announced it would use a Great Depression-era program, the Commodity Credit Corporation (CCC), to pay farmers up to $12 billion, increasing the transfers to farmers to $ 28 billion in May 2019. The USDA estimated that aid payments constituted more than one-third of total farm income in 2019 and 2020.

>>chillf+(OP)
Meanwhile, here in Australia I spoke with small business owners (cafes, gyms, etc...) about their preparedness for the COVID lockdowns before the first one we had. All of them just had a wide-eyed look and a mumbled "Lockdowns? Really? Here? You think so?"

More than half of them went bankrupt.

One guys kept dumping money into a new gym buildout mere weeks before the months-long lockdowns commenced.

>>carabi+ak
My first thought too, there's a big difference between 10-30% tariffs on China on certain goods and a blanket 150% on everything.

>>dghlsa+Qe
Thanks for that. It had flown below my radar.