BREAKING: trump is having a temper tantrum, ending ALL trade negotiations with Canada.
He's butthurt that they aired an ad of President Reagan that shows how dumb trump's tariffs are.
It's VERY effective.
Be a shame if it went viral. 🇺🇲🇨🇦
You sent your troops here without fuel, food, water or a place to sleep.
Here they are — being forced to sleep on the floor, piled on top of one another.
If anyone is treating our troops disrespectfully, it is you @realDonaldTrump.
Let this sink in. The Secretary of Health and Human Services (RFK JR.) is a 14-year former heroine addict who is now afraid of needles and feels that everyone else should be too. He feels vaccines dont work. He's had zero medical training and not a single medical course. Which part of DEI is he?
Every woman, I repeat, every woman of every age, every color, every political affiliation should condemn this, should raise their voice about this, should be terrified about this. Just a few short months ago women’s health advocates were optimistic for the first time in generations, today we should be alarmed. Women’s health research cannot afford to be cancelled like this, our lives are on the line.
https://t.co/TEcyeA8nl6
Ironically, one symptom of deindustrialization is that many commenters have never actually managed a physical business.
So. Suppose your US company imports $1M of high quality parts, and adds in its own components to produce finished goods sold for $1.2M per batch. Your gross profit is $200k per batch.
But wait! Suddenly a new 30% tariff is imposed on that $1M of parts. You now have to fork over $300k to customs before you sell anything. That’s cash you probably don’t have. Oh, and even if you do sell everything, you’re now losing $100k per batch.
With a sinking feeling, you realize your profitable business which you somehow managed to keep in America all these years has suddenly become unprofitable.
You post online about how bad this is but get shouted down by an angry mob, convinced that capitalists like you should die. You can’t tell nowadays if they’re on left or right.
Moreover, you don’t have the time, money, skills, or tools in house to build that $1M of parts yourself. You are being asked to do the equivalent of growing a maple tree when all you needed was a little maple syrup. So now you are faced with several tough choices.
(1) First, you may need to go into debt or fire people to quickly come up with the $300k in cash to pay for these surprise tariffs at customs. Even if the tariff might go away, it might not, so you have to get the cash somehow or risk having your shipment impounded.
(2) Next, you might need to reduce quality to stop losing $100k on each batch. You could order the lower quality $750k parts, grimace and pay 30% tariff at customs, and hope you can build and sell for the same price of $1.2M per batch despite the lower quality.
(3) Alternatively, you could keep the quality parts at $1M and instead raise prices to $1.5M per batch to get back your original margins of $200k per batch, which you need to pay employees after all. But that’s a big hike that your customer will probably not welcome, given that he’s likely dealing with his own tariff shock.
So: these tariffs don’t really give an incentive to build in the US. Because it’s far more expensive to build a screw factory than to pay even high tariffs on a foreign screw.
Instead what they likely mean is debt, layoffs, lower quality, and higher prices for any US company that buys parts abroad.
Just to understand how common that is:
ZOOM REQUIRED:
This note appeared on this morning’s snow report for @Sugarbush_VT - the ski resort @VP is visiting.
It was deleted soon after appearing on the mountain’s website.
Ambassador Caroline Kennedy’s statement to the US Senate on RFKJr’s nomination for HHS Secretary
This is a reading of a letter she just sent to Senate Committee on Health, Education, Labor and Pensions
I’m so proud of my courageous mother, who’s lived a life of dignity, integrity and service.
she’s the kindest funnest smartest you’ll ever meet.