this post was submitted on 01 Feb 2025
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politics

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Summary

Donald Trump announced new tariffs against China, Mexico, and Canada, sparking market turmoil as the measures were set to begin this weekend.

Following the announcement, major indices plunged, with the Dow Jones, NASDAQ, and S&P 500 suffering significant losses, reflecting investor anxiety across global markets.

Canada, Mexico, and China vowed retaliatory tariffs, with officials warning that these measures could escalate trade conflicts and significantly harm economic stability.

Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.

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[–] werefreeatlast@lemmy.world 14 points 9 hours ago (2 children)
[–] chemicalprophet@slrpnk.net 3 points 5 hours ago (2 children)
[–] match@pawb.social 2 points 5 hours ago

it's also on not Facebook

[–] werefreeatlast@lemmy.world 1 points 5 hours ago

That's where the sleeping sheep are at so yeah unfortunately.

[–] revdrnegative@lemmy.world 4 points 7 hours ago (1 children)

Looks like the link was taken down...

[–] HellsBelle@sh.itjust.works 4 points 7 hours ago

It opened for me.

[–] Furbag@lemmy.world 44 points 16 hours ago (2 children)

Could this finally be the term that Trump speedruns the economy crash so the Republicans can be properly blamed for it happening due to their policies and leadership, rather than the Dems always inheriting a timebomb and wasting a whole ass term fixing it?

[–] AntiOutsideAktion@lemmy.ml 4 points 5 hours ago

Just to be clear that's not what happened this last time. Biden deliberately took away all of the covid provisions that were holding the economy up. And while the inflation wasn't directly caused by the government at the time, democrats did nothing about it except wait for studies to come out showing it was price gouging so they could say it wasn't their fault.

[–] MrMcGasion@lemmy.world 18 points 11 hours ago (1 children)

Trump is already running with the line that the helicopter/plane collision was somehow Biden's fault, even though Trump and "Justin Hammer" fucked with the FAA. That's probably why they are speedrunning this collapse, they want to claim they inherited a mess, and shift blame for the consequences of their actions.

[–] HawlSera@lemm.ee 7 points 9 hours ago (1 children)

Which is one of two reasons why they keep screeching this "DEI Hires did 9/11!" nonsense

  1. It's the only card they have for claiming Biden is responsible for Trump's blunders
  2. It's to manufacture consent for Trump's plan to repeal the Civil Rights Act "in the interest of public safety"
[–] chiliedogg@lemmy.world 2 points 5 hours ago

The FAA's diversity hiring programs under Biden were the same as they were under Trump.

[–] MapleEngineer@lemmy.world 27 points 18 hours ago (2 children)

If you are a non-Trump voter in a red state, especially if you work for the flagship company or industry in that state, I would like to apologize on behalf of all Canadians for what our government is about to do. We don't want to do it but it is the only way to deal with a bully.

[–] rayyy@lemmy.world 7 points 9 hours ago (2 children)

I would like to apologize on behalf of all Canadians for what our government is about to do.

Awfully nice of you Canadians to apologize in advance for defending yourselves - eh?

[–] MapleEngineer@lemmy.world 4 points 6 hours ago

It's what we do. We understand that most Americans didn't vote for him and that those who did don't understand tariffs or just how much the damage that he and the billionaires are doing to the government is going to hurt regular Americans, including his base, for decades to come. It sucks but here we are.

[–] CircuitGuy@lemmy.world 7 points 16 hours ago

We don’t want to do it but it is the only way to deal with a bully. I think tariffs are bad for the people of the country that levies them. If another country puts a tariff on things my country sells, I'm for unilaterally disarming. Let the other country's people enjoy the dubious industry-protecting benefits of that tax, and let us enjoy the benefits of buying whatever is a good deal.

I think it's nonsense to think that when people freely trade money for goods, the person receiving the money "wins" and the person receiving the goods "loses". They made the trade because it was good for both parties.

I'm American, and we're pursing the opposite of what I think is good policy.

[–] cupcakezealot@lemmy.blahaj.zone 37 points 22 hours ago (2 children)

We need to seriously start planning states breaking up from the federal government.

[–] djsoren19@lemmy.blahaj.zone 0 points 5 hours ago (1 children)

Ah yeah, great plan, let's fracture the empire while major corporations look on like vultures circling a corpse.

The sad truth is that without a strong, united US government, corporations are going to sieze complete control of any offshoots.

[–] the_q@lemm.ee 3 points 5 hours ago

Have you not been paying attention? Corporations already run this country.

[–] tiefling@lemmy.blahaj.zone 22 points 21 hours ago

California already got the ball rolling

[–] dx1@lemmy.world 28 points 23 hours ago* (last edited 23 hours ago) (1 children)

Tariffs are the opposite of a "free market" measure and absolutely choke an interconnected economy. Look at the damage done to Cuba or North Korea by sanctions, it's the same principle. Getting to the real meat of why this is happening is like a forensic case study. Doesn't even benefit Trump unless he basically immediately reverses it and gives the old "see they capitulated to my demands" based on whatever random thing he dredges up.

[–] Sculptor9157@sh.itjust.works 16 points 21 hours ago (2 children)

It helps folks who are positioned to buy the dip.

[–] dx1@lemmy.world 2 points 7 hours ago* (last edited 7 hours ago)

As long as the stock/asset/etc. actually goes back up, yeah. And yeah, you can short a decline as well.

[–] ieatpillowtags@lemm.ee 4 points 9 hours ago

Just another opportunity for the oligarchs to buy more of our country at a discount!

[–] glowing_hans@sopuli.xyz -3 points 9 hours ago* (last edited 9 hours ago)

This tariff war inside north America is unprecedented since 1945. We will need more Data to evaluate consequences and clearly distinguish random market fluctuations from real consequences; remind me in 10 days/months/years. Capital flows might still strengthen the Dollar in the short term, as countries who depend on exporting commodities (namely oil/coal/wood) into the US will attempt to lower prices to compete with domestic US producers …

[–] LodeMike@lemmy.today 15 points 23 hours ago (5 children)

It didn't "plummet" lol its less than a 1% change

[–] Shardikprime@lemmy.world 1 points 4 hours ago

Literally this, it's hard to take this messaging seriously with these kind of declarations

[–] Bransons404@lemmy.world 1 points 5 hours ago

If bitcoin/crypto is anything to go off of, that's down 10% +. Come Monday the market will probably be a sea of red

[–] theherk@lemmy.world 6 points 9 hours ago

Markets have been closed since Friday. Come Monday, we’ll see what’s what.

[–] rayyy@lemmy.world 3 points 9 hours ago

It hasn't even begun to drop, LOL. Wait a couple of days.

[–] Qwaffle_waffle@sh.itjust.works 12 points 22 hours ago (1 children)
[–] LodeMike@lemmy.today 7 points 21 hours ago (1 children)
[–] Maiq@lemy.lol 4 points 19 hours ago (1 children)

Here we goooi! To the floor!

[–] Spacehooks@reddthat.com 3 points 11 hours ago

Then back up for that growth and profit!

[–] eugenevdebs@lemmy.dbzer0.com 13 points 23 hours ago* (last edited 21 hours ago)

Is this owning the libs, or does that come with the biggest economic crash in our lives for a third time?

[–] SnotFlickerman@lemmy.blahaj.zone 155 points 1 day ago* (last edited 1 day ago) (7 children)

Critics argue the tariffs will harm consumers and businesses, creating global trade uncertainty and risking prolonged economic challenges in the United States.

God damn it media, can't we just call a fucking spade a spade. Anyone with a fucking functional brain knows these tariffs will harm consumers and businesses. "Critics," my ass. Informed people, more like.

It's this kind of shit that allowed us to get here to begin with, an unwillingness to just say the painful, obvious truth and speak it to power.

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[–] Treczoks@lemmy.world 21 points 1 day ago (1 children)

Yea! That's the way Republicans and Trump support the economy!

I wonder if we outsiders have to rebuild the American economy with foreign aid and a new Marshall plan in 2029...

[–] HawlSera@lemm.ee 3 points 9 hours ago

I hope so, for the love of God please.. America cannot be left to its own devices, Americans will die if that happens.

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