this post was submitted on 06 Apr 2025
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Summary

Trump’s sweeping global tariffs are causing rising consumer prices, market losses, and job risks, but his administration defends them as necessary for long-term economic independence.

Critics warn the tariffs hurt low-income households dependent on cheap imports, especially from China.

Officials argue the American dream isn't about “cheap baubles,” but higher living standards. However, economists say tariffs worsen inflation and housing affordability.

Despite past GOP support for cheap goods, MAGA allies now downplay short-term pain.

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[–] mctoasterson@reddthat.com 10 points 19 hours ago (2 children)

Even if the stated goal was to reshore large amounts of production of goods to the US, there are several problems with that.

One, history shows that it is largely not possible, at least in any practical sense. US companies make t-shirts in Vietnam and Pakistan because they can sell them to consumers here for $10. Are US consumers magically going to decide they're OK with an Old Navy (low quality) garment costing $35 instead of $10?

Secondly, standing up manufacturing and distribution domestically isn't an overnight thing. Funding, site selection, construction, supply chain integration etc. all take time. Trump thinks he can trade a few weeks of bad headlines and market hit, for some magically reappearing domestic manufacturing. It doesnt work that way. Even if it were possible, it wouldn't create positive economic conditions on any kind of timeline sufficient to offset the negative effects real consumers are already experiencing.

"Sorry little Johnny, not only can we not afford new Nikes for you anymore, but also you can forget about that Nintendo Switch 2 for Christmas because we can't even order one. But at least we know your GED-educated uncle Jimbo in northern Michigan might be able to get a lower-middle class factory job assembling widgets again... maybe... in 2 years."

That isn't a good economic pitch for most people.

[–] Geetnerd@lemmy.world 1 points 6 hours ago

This is an intentional strategy to bankrupt most of the poors, so they'll have to sell their property to The Nobility.

[–] stabby_cicada@slrpnk.net 2 points 19 hours ago (1 children)

Trump thinks he can trade a few weeks of bad headlines and market hit, for some magically reappearing domestic manufacturing. It doesnt work that way. Even if it were possible, it wouldn't create positive economic conditions on any kind of timeline sufficient to offset the negative effects real consumers are already experiencing.

A few weeks? Try a few months. Or years. I think Trump is fine with bad headlines for months on end.

The positive interpretation is: Trump's confident that he's right. He's confident America will be better off under his tariff plan. OR he's confident he can use tariffs to force trade deals that benefit America and exploit the rest of the world. And he knows voters have short memories. As long as the economy is strong in fall 2026 he can take credit for it and give Republicans overwhelming electoral victories at the federal and state level.

The negative interpretation is: Trump doesn't care about public opinion because he doesn't think elections are going to matter anymore.

Either way, what the media and the voters think about tariffs now doesn't matter to Trump. Trump does what Trump wants and the rest of the world submits to him. It's everything he's always wanted.

[–] Geetnerd@lemmy.world 1 points 6 hours ago* (last edited 6 hours ago)

Try decades.

Trump doesn't think anything. The Heritage Foundation has one of their minions tell him what to think and say, and he does it. But like the colossal narcissist he is, they make him think it's his idea, then he says it is. 100% predictable.

The man is in late stages of dementia, and it would be pitiable if he hadn't been such a spoiled, entitled, narcissistic, psychopathic asshole his entire life. He is a tool to them, but one that is uncontrollable and unpredictable. That is, to anyone but Putin, who has the kompromat on Trump.

[–] CircaV@lemmy.ca 6 points 20 hours ago (1 children)

Americans aren’t known to be a people willing to “do without”

[–] Geetnerd@lemmy.world 2 points 6 hours ago

They are if they think it hurts Those People more.

[–] rayyy@lemmy.world 2 points 20 hours ago (1 children)

"Short term pain", LOL.
No words.

[–] Geetnerd@lemmy.world 1 points 6 hours ago

Well, it won't hurt The Aristos, just their maids, butlers, landscapers, chefs, drivers, cult members...

[–] Treczoks@lemmy.world 1 points 19 hours ago

It didn't work out when the Republicans tried it in 1930. Now the US is even more dependent on foreign trade, this time it will be a disaster.

[–] Gates9@sh.itjust.works 18 points 1 day ago (2 children)

Purchasing power in the form of cheap goods is really the only thing distracting people from the fact that we are being ripped off by the wealthy. Now that Trump has levied tariffs as a political cudgel, when the nations of the world insulate themselves from our influence, people will have no one else to blame.

[–] Drusas@fedia.io 9 points 1 day ago (1 children)

Sports and TV/movies are also there to provide that distraction. Bread and circuses.

[–] hovercat@lemmy.blahaj.zone 3 points 19 hours ago

Well, they're taking away the bread, and the circuses cost $80/mo now. So probably won't be able to keep it up too long.

[–] Zippygutterslug@lemmy.world 81 points 2 days ago (1 children)
[–] BlameThePeacock@lemmy.ca 8 points 2 days ago

May is doing a lot of heavy lifting, it's more about how many at this point.

[–] 1984@lemmy.today 34 points 2 days ago (2 children)

I stil cant believe this narcissist is the god damn president of the United States. Every day im actually surprised to not be having a nightmare.

Im not joking. The man has no empathy and he is running the United States now.

[–] FenrirIII@lemmy.world 13 points 1 day ago

It was a coordinated effort by the rich and white, Christian nationalists.

[–] slaneesh_is_right@lemmy.org 23 points 2 days ago

He's the president AGAIN.

[–] ragingdachshund@lemm.ee 11 points 1 day ago

Americans living is also apparently a “sacrifice” this traitor is willing to make.

[–] Ledericas@lemm.ee 10 points 1 day ago (1 children)

There an article going around Powell is looking to jump ship soon, he doesn't want to get blamed for this

[–] rothaine@lemm.ee 3 points 1 day ago (1 children)

Shit. I feel like Powell is the only thing saving us from hyperinflation

[–] tacosplease@lemmy.world 2 points 4 hours ago

Didn't Trump pressure Powell into keeping the interest rates low during his last presidency when it would have been better to increase them?

He's meh in my opinion, but who knows if we'd get someone better next time.

[–] N0body@lemmy.dbzer0.com 18 points 2 days ago (2 children)

What level of bullshit can the right wing tech bros maintain when ordinary Americans are priced out of bread and circuses? Even the most unfair social contracts have rails.

More to the point, how many Americans have maxed out their credit cards paying bills and basic necessities? What happens when making the minimum payment on the maxed credit card balance makes them unable to afford food and housing? Are millions of people going to become homeless in the next several months? Is the credit system going to collapse?

Honestly, the solution at the citizen level is for everyone to file bankruptcy. It ensures a roof over your head, paused payments on debt, and it shifts all the financial losses to the banks. Banks taking actual losses and being threatened with insolvency puts their skin in Trump’s game to destroy the global economy.

[–] Kanda@reddthat.com 2 points 4 hours ago

Oh, great, we'll have to bail out the banks again

[–] SkyNTP@lemmy.ml 10 points 2 days ago

Priced out of circuses? My dude, social media is the new circus, cheaper and more accessible than ever. No need for bread when we can control and distract the masses by pulling on the algorithm levers at no cost.

I know it's probably necessary to reiterate these points to people who still don't get it, over and over again. But as someone with a functioning brain I find these "stating the obvious" headlines very tiring.