this post was submitted on 30 Nov 2024
212 points (95.7% liked)

World News

398 readers
568 users here now

Rules:

  1. Be a decent person
  2. No spam
  3. Add the byline, or write a line or two in the body about the article.

founded 2 months ago
MODERATORS
Deceptichum@quokk.au
Grainne@lemmy.dbzer0.com
PhilipTheBucket@ponder.cat
212
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar (apnews.com)
submitted 3 weeks ago by TheKetchupSong@lemmings.world to c/world@quokk.au
84 comments fedilink hide all child comments
 

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

you are viewing a single comment's thread
view the rest of the comments
[–] ricecake@sh.itjust.works 10 points 3 weeks ago (2 children)

The thing is, they have no real reason to care about the threat of a tariff. It makes domestic US prices increase. For a lot of things, there isn't the ability to start making it domestically in a timely fashion, so either demand drops for a bit or if it's something vital, then the producer never even notices.

It's threatening the shoe store by waving a chainsaw at your legs. Sure they'll have some reduced sales, but you're mostly hurting yourself.

[–] thericofactor@sh.itjust.works 4 points 3 weeks ago

"It's threatening the shoe store by waving a chainsaw at your legs" I don't know if you personally made this up, but this cracked me up.

[–] okamiueru@lemmy.world 2 points 3 weeks ago (1 children)

Why do you suggest foreign trade partners have no reason to care? The US market will reduce. All trade partners care about that.

[–] ricecake@sh.itjust.works 2 points 3 weeks ago (1 children)

Sure it's not ideal, but it's a much bigger blow to the US market than to the other markets. We're not the only buyer, just a big one.

Punishing your electorate for buying imported products only makes sense on paper if you have a domestic supply of the product.
For a lot of what's going to be tarifed, prices will just go up and no domestic supply can scale during the life of the tariff, with politicians having to gauge how much they can punish the people who elect them to pressure other nations into doing things they're not going to do regardless.

[–] okamiueru@lemmy.world 1 points 3 weeks ago

Sure it’s not ideal, but it’s a much bigger blow to the US market than to the other markets. We’re not the only buyer, just a big one.

No issues with that more nuanced phrasing.