My wife and I celebrated our anniversary today by doing nothing in particular. Forty-eight years can go by quickly.
-------------------
Congratulations!! My wife and I celebrated our 56th Saturday the 29th. Our only celebration was going out to dinner at the Great Dane pub Eastside. Marriage is especially great when the one you're married to is not only you greatest love, but your very best friend also.
Thanks, Political Junkie and William50. We spent most of the late afternoon and evening watching the local weather guys preempting the non-weather news. Good thing we had no plans.
Trump Unveils Sweeping Tariffs in Stark Shift in Trade Policy ~ WSJ
I kind of admire the way Trump tries to explain VAT to an audience who mostly know what it is, from his own perspective as someone who clearly has no clue how it works.
VAT is essentially a Sales Tax. An American exporter also doesn't pay US Sales tax on a car they export to the EU. Local competitors pay exactly the same VAT as the American exporters and EU producers pay the same Sales tax in the US as the American local producer. These taxes don't disadvantage or advantage neither EU nor US exporters.
The rest of the country and the world is in the process of being given definitive, unambiguous proof that indeed Trump’s idea is mathematically impossible and economically destructive, to the particular chagrin of those fools who voted for him.
Trump is liberating Americans from their collective wealth.
When are people gonna realize trump doesnt give a flying fuk about anything except the billions he is gonna leave with.He dont care about war,economy just his wealth. The guy is a depleting old man who will be lucky when he leaves(if he makes it that far) he dont get his butt put away. The people that voted him in again got duped with all the stuff he was gonna do and he aint done none of it except retaliation tour and milk the system for $$$. I;ll be well into my 80's and he'll be bad history with my grandkids kids reading about him like we did about Benedict Arnold and John Henry and Nathan Hale and all the guys that thought Demcracy would go more than 2.5 centuries. Putin,XI,Erdogan,Duterte,Kim Jung all know OLIGARCHY is the way to reap the harvest. My 4 children,7 grandchildren and 3 great grandchildren so far, will all navigate the true BRAVE NEW WORLD.Like the new age space Beatitudes say"The meek(poor) shall inherit the Earth and the rest will leave for space.Watch the wars for those tickets! EAT DRINK AND BE MERRY FOR TOMORROW WE ALL WILL DIE!
Senators joined democrats and voted against TARIFFS on our Ally Canada. TARIFFS ARE TAX INCREASES finally people with a brain will finallly admit. The orange guy is going to lose his shit. Finally some Repubs with some balls AND SOME FEMALE GENTILIA. Remember what Grover Norquist SAID LONG AGO.."you never vote to raise taxes! TARIFFS ARE TAX RAISES ON AMERICAN PEOPLE HELLO. TRUMP WILL HAVE TO PLAY A FEW EXTRA ROUNDS TOMORROW AND FIGURE HIS NEXT BAFOON MOVE. Mike Pence says trump is now responsible for Republican tax increase ever..The guy is a real dummy and people are starting to realize it,(well some anyway)Now got to bail out Farmers again for 4th time? WTF....
Americans’ 401Ks tomorrow AM, its Liberation Day in Trump World. Americans just need to suck it up and be willing to sacrifice for their cult leader’s glory, eh?
Hundreds, if not thousands, of American politicians have somehow built fortunes in the tens or hundreds of millions while earning low 6-figure incomes. Trump and Musk are the only ones I can think of who have lost large sums of money - not just tens of millions but billions - by going into politics. People who were perfectly willing to stay in Trump hotels, golf at Trump golf courses, and drive Teslas, when the founders were Democrats started boycotting them (or firebombing them) when they turned Republican. Yet there are still morons who say that Trump is motivated by the "billions he is gonna leave with". It's amazing that someone can be that stupid, but I suppose the writing style should have been a clue.
People are losing their shit because Trump is imposing tariffs that are half of the amount other countries are imposing on the US. Apparently, they get their jollies watching our nation get ripped off.
If and/or when we see the success of these moves - and achieve balanced trade - will these people shut their pieholes immediately after admitting they were wrong?
How were these (fictional)Trump tariff rates calculated? Trump math -- literally unbelievable.
/Just figured out where these fake tariff rates come from. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
It's also important to understand that the tariff rates that foreign countries are supposedly charging us are just made-up numbers. South Korea, with which we have a trade agreement, is not charging a 50% tariff on U.S. exports. Nor is the EU charging a 39% tariff./ https://x.com/JamesSurowiecki/status/1907559189234196942
One more time.... let's take each counties trade deficit with us and divide it by their exports, and we’ll call that percentage their tariff’s against us!
Karoline Leavitt's press briefing should be fun tomorrow. 🍿
I tried watching Eddie and the Cruisers but I couldn’t get the link to work. It kept going to a documentary about the movie so I ordered the dvd. BTW Bubba Ho-tep is free with Amazon Prime
Bubba Ho-Tep is based on a story by Joe R Lansdale who also wrote quite a few mysteries. I’m starting with Savage Season but I enjoyed Bubba Ho-Tep and Bubba and the Bloodsuckers more. He’s quite a story teller.
One has either to take people as they are, or leave them as they are. One cannot change them, one can merely disturb their balance. A human being, after all, is not made up of single pieces, from which a single piece can be taken out and replaced by something else Franz Kafka
The Constitution establishes a Supreme Court, but provides that Congress may establish inferior courts — which it has done. If Congress were to (for example) dissolve the district and circuit courts for the District of Columbia, assigning jurisdiction over cases arising in DC to other courts, and reassigning judges (who have life tenure) to other courts, would there be a plausible constitutional objection to that action?
Most inspirational quote in Bubba Ho-Tęp (possibly a spoiler) What do I really have left in life but this place? It ain’t much of a home, but it’s all I got. Well, goddamnit. I’ll be damned if I let some foreign, graffiti-writin’, soul-suckin’ son of a bitch in an oversized cowboy hat and boots take my friends’ souls and shit ’em down the visitors’ toilet! - Elvis Presley
Eric Daugherty @EricLDaugh 🚨 The DNC with Chuck Schumer and Hakeem Jeffries is suing President Trump over his effort to prevent illegal aliens from voting in our elections
They say Trump is trampling the Framers' vision of how to run elections and that such an executive order reflects Trump's "conspiratorial beliefs."
Unreal.
Mike Lee
@SenMikeLee
Why are top Democrats suing to allow non-citizens to vote in American elections?
Lucien: " If Congress were to (for example) dissolve the district and circuit courts for the District of Columbia, assigning jurisdiction over cases arising in DC to other courts,"
There is the Constitutional language (art III sec 2; restated in Amd VI) about trials needing to happen in the "State and District" where the matter happened. This was to avoid repeating Crown abuses like shipping dudes back to Britain for trial.
But DC is not a state. And III/2 goes on to say Congress can determine the place to try crimes "not committed within any State." Unless of course a judge determines it is a "State" for purposes of this clause. So who bloody knows.
For things that aren't criminal trials - lawsuits, equity actions, etc - Congress looks like it has complete freedom to legislate where the case gets tried.
Having said all that, I don't know that disestablishing DC courts would fix the problem - the judges are the same kind of people all over the country. Even if juries are involved, there's not going to be a huge difference between a DC jury and, say, a Northern Virginia or Montgomery County, MD jury. And I doubt there's the intestinal fortitude in Congress to move DC criminal trials to Idaho, or even to a randomly-generated District Court somewhere in the country.
Probably the most straightforward solution would just be to legislatively remove jurisdiction from District Courts. And legislatively preserve the SCOTUS decision about when you can and can't criminally prosecute the President. You would think a bipartisan majority could be found for these, with the D's thinking ahead to the next time they're in office. But there I go again, thinking the D's can delay gratification....
Godowski has a lot of piano transcriptions of Bach BWV 1001 that fill out the piano keyboard. Let no fingers go to waste. Same channel has a lot of others.
In this one the second movement shows up as a countertheme in the first.
I asked Grok: Why does the White House's latest chart indicate that the tariffs South Korea charges the US is 50%? Grok's reply: The White House's latest chart, released on April 2, 2025, as part of President Trump's "Liberation Day" tariff announcement, does not indicate that South Korea currently charges the United States a 50% tariff on imports. Instead, the chart lists a 25% tariff rate to be imposed by the United States on South Korean goods entering the U.S., effective April 9, 2025. This is part of a broader policy of "reciprocal tariffs" aimed at addressing trade imbalances, as outlined in the White House fact sheet from that date.
The confusion may stem from a misunderstanding of how these rates were derived or from earlier claims during Trump's announcement. The White House has stated that these reciprocal tariffs are calculated based on a formula that considers trade deficits and other factors, such as tariffs and non-tariff barriers imposed by trading partners, divided by the value of their exports to the U.S., and then halved. For South Korea, the actual tariff rate on U.S. goods has been very low—around 0.79% in 2024—due to the U.S.-Korea Free Trade Agreement (KORUS FTA) in place since 2012. However, the U.S. trade deficit with South Korea was significant, at approximately $66 billion in 2024, with South Korean exports to the U.S. totaling $131.5 billion. Some have speculated that a higher figure (like 50%) might have been an intermediate calculation (e.g., $66 billion ÷ $131.5 billion ≈ 50%, then halved to 25%), but this is not what South Korea charges the U.S.
Trump’s rhetoric during the announcement suggested that the listed rates reflect what countries "are and have been charging us," adjusted downward out of "kindness." However, this does not align with South Korea’s actual tariff rates on U.S. goods, which are near zero for most products under the FTA. The 25% figure in the chart is thus a U.S.-imposed tariff on South Korean imports, not a reflection of a 50% tariff charged by South Korea. This discrepancy has been noted in public discourse, with some suggesting the numbers are more about political messaging or trade deficit adjustments than a direct mirror of South Korea’s tariffs on the U.S.
I've been inclined to give Trump the benefit of the doubt and I voted for him three times. That said, these tariffs are shockingly bad policy. I know they need to get interest rates down to refinance our massive debt, but I question whether a full blown recession is the best way to achieve that goal. I do accept that they have a nearly impossible puzzle to solve here, and radical change is needed. He also has some very smart people advising him. But industry doesn't relocate overnight, and no one believes these tariffs will survive the next administration. It would seem that companies will choose to wait it out for the most part. Tariffs are a poor method of taxation.
The New York Times ran a long "secret history of the Ukraine war" article recently, which, given our host's affinity for that publication, I thought would make an appearance here. It does clearly articulate just how close to WW3 Biden was pushing the USA, recklessly. Anyone read the whole thing or a distillation of it?
"That said, these tariffs are shockingly bad policy. "
It does raise the point, if they're such bad policy, then how come all these foreign countries have set themselves up to rake in the cash off the back of American manufacturers, with their tariffs for all this time?
What is absent is a more descriptive discussion of what the tariffs actually are. I haven't delved into the subject matter and looked very hard. It seems to me that the Trump tariffs are reciprocal, and this word has now started to enter into the media coverage. They are normally levied against specific categories, not across entire import chains, as far as I can tell.
But who could be against the principals of free trade? If you want to protect your industries or national economies, fine. You shouldn't expect it to be without a response from those affected, though. And there shouldn't be any doubt that the American manufacturing base has been withered on the vine over the past 30-40 years or so, rendered noncompetitive by things like this.
I think it's just part of the broader message from Trump that America is no longer a Free Ride country, and the realization is still sinking in, particularly in the European countries that have come to expect American welfare in its many different forms.
If these tariffs were coupled with massive cuts in personal and corporate taxes plus deregulation, then they might be a great idea. The problem is that those things require congressional support, and Congress is uninterested in doing much of anything. I'm still at the stage of wait-and-see, but I'm not confident that his strategy (whatever it might be) will play out well. I'd be fine with equities getting devalued if it led to reshoring industries and strong growth, but I have my doubts.
Re: tariffs- beaucoup economists support the belief that tariffs are bad policy. I’m one of those troglodytes what still believes in free trade and comparative advantage so I do too but no matter. I also believe what’s important at the moment is game theory says Tit For Tat is consistently a winning strategy. Do find Hannah Fry’s BBC series for an entertaining in depth exploration…and when did we get so soft and whimpy about market cycles and modest and once-regular market contractions? Grow a pair…
It would seem that companies will choose to wait it out for the most part.
As someone that has worked (and still working) in multiple large industries (aerospace and energy), I question the observation skills of someone that writes the above. They waited out the last 4 years post Covid, and they can wait no longer. Trump’s re-election is a result of this. The working classes voted for Trump.
how come all these foreign countries have set themselves up to rake in the cash off the back of American manufacturers, with their tariffs for all this time?
And I have earthly clue why anybody would be opposed to that.
I know of a bunch of reasons but most relevant is the risk of a tariff war becoming permanent policy which ultimately makes goods more expensive and reducing household wealth, higher transfer payments to government with the potential/likelihood of being squandered on inefficient and/or illegal political activities…and I don’t need to guess about what Trump is thinking- he wants to see growth in American manufacturing and a better deal for American assembled goods overseas. Tariffs are a tool, not the goal…
I still pay import duties for Swiss watches, a trade war started in the 1920s. A whole branch of US Customs enforcing, likely not supporting themselves with the duties they collect…
Trump's tariff formula? That is a bit rich for a random number generator.
Think of a number...now double it...divide it by your countries trade deficit, now add 10....Is that your birthday?
Trump's formula is getting plenty of attention but the starting point of looking at goods only much less so -- why? Services are a key US export and a natural balance to a goods deficit. It appears meaningless before we even get to the formula.
Russia was left off the list because most trade with Russia is now prohibited, and what isn't is subject to VERY high tariffs. Our trade with Russia dropped off a cliff after the invasion of Ukraine.
Mike Johnson is going to pull a McConneell dirt bomb trick even though senate defeated CANADA tariffs,Johnson will call and going session only! day and therefore the minimum time for the House to have to vote on no tariffs for cananda(would pass dems and repubs) the day will never change therefore they wont have to vote and trump gets his tarriffs on Cnada despite congress not wanting it.What a fukked up scenario and government rules.Its the McCONNELL YEAR HOLD OUT OF mERRICK gARLAND AGAIN ONLY DIFFERENT CIRCUmstances/ wtf THATS YOUR CONGRESS FOR YA!
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62 comments:
2026 and 2027 have GOP WI Supreme Court candidates up for re-election.
Given how Musk and Trump 'helped' this election, I bet Ben Winkler had an extra bottle of champagne last night.
today’s democrats
offended by ev’rything
ashamed of NOTHING
My wife and I celebrated our anniversary today by doing nothing in particular. Forty-eight years can go by quickly.
Congrats Narr.
Althouse put in a day today. 11 posts with the night cafe making an even dozen. Good night, cruel and neutral, Thank you for blogging.
Narr said...
My wife and I celebrated our anniversary today by doing nothing in particular. Forty-eight years can go by quickly.
-------------------
Congratulations!! My wife and I celebrated our 56th Saturday the 29th.
Our only celebration was going out to dinner at the Great Dane pub Eastside. Marriage is especially great when the one you're married to is not only you greatest love, but your very best friend also.
Thanks, Political Junkie and William50. We spent most of the late afternoon and evening watching the local weather guys preempting the non-weather news. Good thing we had no plans.
Trump Unveils Sweeping Tariffs in Stark Shift in Trade Policy ~ WSJ
I kind of admire the way Trump tries to explain VAT to an audience who mostly know what it is, from his own perspective as someone who clearly has no clue how it works.
VAT is essentially a Sales Tax. An American exporter also doesn't pay US Sales tax on a car they export to the EU. Local competitors pay exactly the same VAT as the American exporters and EU producers pay the same Sales tax in the US as the American local producer. These taxes don't disadvantage or advantage neither EU nor US exporters.
The rest of the country and the world is in the process of being given definitive, unambiguous proof that indeed Trump’s idea is mathematically impossible and economically destructive, to the particular chagrin of those fools who voted for him.
Trump is liberating Americans from their collective wealth.
Congratulations to both of you, Narr!
The people liberating Americans from their wealth were those in the DOGE spotlight.
YouTube: On speaking a language
"A look at the weird, inexplicable, and paradoxical nature of language."
When are people gonna realize trump doesnt give a flying fuk about anything except the billions he is gonna leave with.He dont care about war,economy just his wealth. The guy is a depleting old man who will be lucky when he leaves(if he makes it that far) he dont get
his butt put away. The people that voted him in again got duped with all the stuff he was gonna do and he aint done none of it except retaliation tour and milk the system for $$$. I;ll be well into my 80's and he'll be bad history with my grandkids kids reading about him like we did about Benedict Arnold and John Henry and Nathan Hale and all the guys that thought Demcracy would go more than 2.5 centuries. Putin,XI,Erdogan,Duterte,Kim Jung all know OLIGARCHY is the way to reap the harvest. My 4 children,7 grandchildren and 3 great grandchildren so far, will all navigate the true BRAVE NEW WORLD.Like the new age space Beatitudes say"The meek(poor) shall inherit the Earth and the rest will leave for space.Watch the wars for those tickets! EAT DRINK AND BE MERRY FOR TOMORROW WE ALL WILL DIE!
YouTube: Grok may be "thinking" after all
I say maybe (weasel word) because they are not sure yet.
It depends on what we think "thinking" is.
Senators joined democrats and voted against TARIFFS on our Ally Canada. TARIFFS ARE TAX INCREASES finally people with a brain will finallly admit. The orange guy is going to lose his shit. Finally some Repubs with some balls AND SOME FEMALE GENTILIA. Remember what Grover Norquist SAID LONG AGO.."you never vote to raise taxes! TARIFFS ARE TAX RAISES ON AMERICAN PEOPLE HELLO. TRUMP WILL HAVE TO PLAY A FEW EXTRA ROUNDS TOMORROW AND FIGURE HIS NEXT BAFOON MOVE. Mike Pence says trump is now responsible for Republican tax increase ever..The guy is a real dummy and people are starting to realize it,(well some anyway)Now got to bail out Farmers again for 4th time? WTF....
Americans’ 401Ks tomorrow AM, its Liberation Day in Trump World. Americans just need to suck it up and be willing to sacrifice for their cult leader’s glory, eh?
I anticipate Roberts again trying to split the baby, resulting in a complete betrayal of the constitutional separation of powers.
What will ACB do?
Hundreds, if not thousands, of American politicians have somehow built fortunes in the tens or hundreds of millions while earning low 6-figure incomes. Trump and Musk are the only ones I can think of who have lost large sums of money - not just tens of millions but billions - by going into politics. People who were perfectly willing to stay in Trump hotels, golf at Trump golf courses, and drive Teslas, when the founders were Democrats started boycotting them (or firebombing them) when they turned Republican. Yet there are still morons who say that Trump is motivated by the "billions he is gonna leave with". It's amazing that someone can be that stupid, but I suppose the writing style should have been a clue.
People are losing their shit because Trump is imposing tariffs that are half of the amount other countries are imposing on the US. Apparently, they get their jollies watching our nation get ripped off.
If and/or when we see the success of these moves - and achieve balanced trade - will these people shut their pieholes immediately after admitting they were wrong?
How were these (fictional)Trump tariff rates calculated?
Trump math -- literally unbelievable.
/Just figured out where these fake tariff rates come from. They didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us.
So we have a $17.9 billion trade deficit with Indonesia. Its exports to us are $28 billion. $17.9/$28 = 64%, which Trump claims is the tariff rate Indonesia charges us. What extraordinary nonsense this is.
It's also important to understand that the tariff rates that foreign countries are supposedly charging us are just made-up numbers. South Korea, with which we have a trade agreement, is not charging a 50% tariff on U.S. exports. Nor is the EU charging a 39% tariff./
https://x.com/JamesSurowiecki/status/1907559189234196942
One more time.... let's take each counties trade deficit with us and divide it by their exports, and we’ll call that percentage their tariff’s against us!
Karoline Leavitt's press briefing should be fun tomorrow. 🍿
Thank you to whoever mentioned Bubba Ho-Tep in a previous post. Great movie. Highly recommended.
I tried watching Eddie and the Cruisers but I couldn’t get the link to work. It kept going to a documentary about the movie so I ordered the dvd. BTW Bubba Ho-tep is free with Amazon Prime
Bubba Ho-Tep is based on a story by Joe R Lansdale who also wrote quite a few mysteries. I’m starting with Savage Season but I enjoyed Bubba Ho-Tep and Bubba and the Bloodsuckers more. He’s quite a story teller.
Oops, that was Bubba and the Cosmic Bloodsuckers
Why was Russia left off the list?
Does anybody have any inspiring quotes to share?
One has either to take people as they are, or leave them as they are. One cannot change them, one can merely disturb their balance. A human being, after all, is not made up of single pieces, from which a single piece can be taken out and replaced by something else
Franz Kafka
Put All Your Eggs in One Basket, and Then Watch That Basket
-Andrew Carnegie
I asked Grok for the most inspirational quote ever:
Be the change you wish to see in the world.
Mahatma Gandhi
Not impressed.
The Constitution establishes a Supreme Court, but provides that Congress may establish inferior courts — which it has done. If Congress were to (for example) dissolve the district and circuit courts for the District of Columbia, assigning jurisdiction over cases arising in DC to other courts, and reassigning judges (who have life tenure) to other courts, would there be a plausible constitutional objection to that action?
Most inspirational quote in Bubba Ho-Tęp (possibly a spoiler)
What do I really have left in life but this place? It ain’t much of a home, but it’s all I got. Well, goddamnit. I’ll be damned if I let some foreign, graffiti-writin’, soul-suckin’ son of a bitch in an oversized cowboy hat and boots take my friends’ souls and shit ’em down the visitors’ toilet! - Elvis Presley
Thanks for sharing, Eva
Fascism is the frenzy of sexual cripples.
- Wilhelm Reich
If someone can get Dink and Kak and Inga into the same tent, I’ll frag ‘em.
Of Course: Liberals Stealing From Bezos Because He Isn't Sufficiently Leftist
I didn't want to steal this pork chop.
Jeff Bezos made me steal this pork chop.
HT: Flip Wilson
I guess it's better than arson.
Eric Daugherty
@EricLDaugh
🚨 The DNC with Chuck Schumer and Hakeem Jeffries is suing President Trump over his effort to prevent illegal aliens from voting in our elections
They say Trump is trampling the Framers' vision of how to run elections and that such an executive order reflects Trump's "conspiratorial beliefs."
Unreal.
Mike Lee
@SenMikeLee
Why are top Democrats suing to allow non-citizens to vote in American elections?
You know why.
https://x.com/SenMikeLee/status/1907440634329227654
Why was Russia left off the list?
Why don't you list the trade agreements we have with Russia, Tuesday? And the tariffs they impose upon us.
And then go from there.
If someone can get Dink and Kak and Inga into the same tent, I’ll frag ‘em.
Nope. Let them spew.
Not worth the ordnance.
Inspirational quote: s day without Kak, Dink, and Inga is like a day without razor blades up your butt.
Lucien: " If Congress were to (for example) dissolve the district and circuit courts for the District of Columbia, assigning jurisdiction over cases arising in DC to other courts,"
There is the Constitutional language (art III sec 2; restated in Amd VI) about trials needing to happen in the "State and District" where the matter happened. This was to avoid repeating Crown abuses like shipping dudes back to Britain for trial.
But DC is not a state. And III/2 goes on to say Congress can determine the place to try crimes "not committed within any State." Unless of course a judge determines it is a "State" for purposes of this clause. So who bloody knows.
For things that aren't criminal trials - lawsuits, equity actions, etc - Congress looks like it has complete freedom to legislate where the case gets tried.
Having said all that, I don't know that disestablishing DC courts would fix the problem - the judges are the same kind of people all over the country. Even if juries are involved, there's not going to be a huge difference between a DC jury and, say, a Northern Virginia or Montgomery County, MD jury. And I doubt there's the intestinal fortitude in Congress to move DC criminal trials to Idaho, or even to a randomly-generated District Court somewhere in the country.
Probably the most straightforward solution would just be to legislatively remove jurisdiction from District Courts. And legislatively preserve the SCOTUS decision about when you can and can't criminally prosecute the President. You would think a bipartisan majority could be found for these, with the D's thinking ahead to the next time they're in office. But there I go again, thinking the D's can delay gratification....
JSM
Godowski has a lot of piano transcriptions of Bach BWV 1001 that fill out the piano keyboard. Let no fingers go to waste. Same channel has a lot of others.
In this one the second movement shows up as a countertheme in the first.
NKP said...
If someone can get Dink and Kak and Inga into the same tent, I’ll frag ‘em.
4/3/25, 12:39 AM
What the hell is wrong with you people?
I asked Grok: Why does the White House's latest chart indicate that the tariffs South Korea charges the US is 50%?
Grok's reply:
The White House's latest chart, released on April 2, 2025, as part of President Trump's "Liberation Day" tariff announcement, does not indicate that South Korea currently charges the United States a 50% tariff on imports. Instead, the chart lists a 25% tariff rate to be imposed by the United States on South Korean goods entering the U.S., effective April 9, 2025. This is part of a broader policy of "reciprocal tariffs" aimed at addressing trade imbalances, as outlined in the White House fact sheet from that date.
The confusion may stem from a misunderstanding of how these rates were derived or from earlier claims during Trump's announcement. The White House has stated that these reciprocal tariffs are calculated based on a formula that considers trade deficits and other factors, such as tariffs and non-tariff barriers imposed by trading partners, divided by the value of their exports to the U.S., and then halved. For South Korea, the actual tariff rate on U.S. goods has been very low—around 0.79% in 2024—due to the U.S.-Korea Free Trade Agreement (KORUS FTA) in place since 2012. However, the U.S. trade deficit with South Korea was significant, at approximately $66 billion in 2024, with South Korean exports to the U.S. totaling $131.5 billion. Some have speculated that a higher figure (like 50%) might have been an intermediate calculation (e.g., $66 billion ÷ $131.5 billion ≈ 50%, then halved to 25%), but this is not what South Korea charges the U.S.
Trump’s rhetoric during the announcement suggested that the listed rates reflect what countries "are and have been charging us," adjusted downward out of "kindness." However, this does not align with South Korea’s actual tariff rates on U.S. goods, which are near zero for most products under the FTA. The 25% figure in the chart is thus a U.S.-imposed tariff on South Korean imports, not a reflection of a 50% tariff charged by South Korea. This discrepancy has been noted in public discourse, with some suggesting the numbers are more about political messaging or trade deficit adjustments than a direct mirror of South Korea’s tariffs on the U.S.
Hey, Rich: the country's "collective wealth" was already removed by the inflation during the administration of Sleepy Joe Biden.
I've been inclined to give Trump the benefit of the doubt and I voted for him three times. That said, these tariffs are shockingly bad policy. I know they need to get interest rates down to refinance our massive debt, but I question whether a full blown recession is the best way to achieve that goal. I do accept that they have a nearly impossible puzzle to solve here, and radical change is needed. He also has some very smart people advising him. But industry doesn't relocate overnight, and no one believes these tariffs will survive the next administration. It would seem that companies will choose to wait it out for the most part. Tariffs are a poor method of taxation.
The New York Times ran a long "secret history of the Ukraine war" article recently, which, given our host's affinity for that publication, I thought would make an appearance here. It does clearly articulate just how close to WW3 Biden was pushing the USA, recklessly. Anyone read the whole thing or a distillation of it?
"That said, these tariffs are shockingly bad policy. "
It does raise the point, if they're such bad policy, then how come all these foreign countries have set themselves up to rake in the cash off the back of American manufacturers, with their tariffs for all this time?
What is absent is a more descriptive discussion of what the tariffs actually are. I haven't delved into the subject matter and looked very hard. It seems to me that the Trump tariffs are reciprocal, and this word has now started to enter into the media coverage. They are normally levied against specific categories, not across entire import chains, as far as I can tell.
But who could be against the principals of free trade? If you want to protect your industries or national economies, fine. You shouldn't expect it to be without a response from those affected, though. And there shouldn't be any doubt that the American manufacturing base has been withered on the vine over the past 30-40 years or so, rendered noncompetitive by things like this.
I think it's just part of the broader message from Trump that America is no longer a Free Ride country, and the realization is still sinking in, particularly in the European countries that have come to expect American welfare in its many different forms.
If these tariffs were coupled with massive cuts in personal and corporate taxes plus deregulation, then they might be a great idea. The problem is that those things require congressional support, and Congress is uninterested in doing much of anything. I'm still at the stage of wait-and-see, but I'm not confident that his strategy (whatever it might be) will play out well. I'd be fine with equities getting devalued if it led to reshoring industries and strong growth, but I have my doubts.
Re: tariffs- beaucoup economists support the belief that tariffs are bad policy. I’m one of those troglodytes what still believes in free trade and comparative advantage so I do too but no matter. I also believe what’s important at the moment is game theory says Tit For Tat is consistently a winning strategy. Do find Hannah Fry’s BBC series for an entertaining in depth exploration…and when did we get so soft and whimpy about market cycles and modest and once-regular market contractions? Grow a pair…
It would seem that companies will choose to wait it out for the most part.
As someone that has worked (and still working) in multiple large industries (aerospace and energy), I question the observation skills of someone that writes the above. They waited out the last 4 years post Covid, and they can wait no longer. Trump’s re-election is a result of this. The working classes voted for Trump.
I’m one of those troglodytes what still believes in free trade ...
There's free trade, and then there's fair trade.
I can't read his mind, but I'm pretty sure Trump's working for the latter.
And I have earthly clue why anybody would be opposed to that.
But I'm guessing the regular suspects will tell me why.
how come all these foreign countries have set themselves up to rake in the cash off the back of American manufacturers, with their tariffs for all this time?
Exactly.
And if not now? When?
What the hell is wrong with you people?
It was a dumb comment - by one person - on a thread.
"You people" tried killing Trump. At least twice.
So, fuck off.
And I have earthly clue why anybody would be opposed to that.
I know of a bunch of reasons but most relevant is the risk of a tariff war becoming permanent policy which ultimately makes goods more expensive and reducing household wealth, higher transfer payments to government with the potential/likelihood of being squandered on inefficient and/or illegal political activities…and I don’t need to guess about what Trump is thinking- he wants to see growth in American manufacturing and a better deal for American assembled goods overseas. Tariffs are a tool, not the goal…
I still pay import duties for Swiss watches, a trade war started in the 1920s. A whole branch of US Customs enforcing, likely not supporting themselves with the duties they collect…
“Anyone read the whole thing or a distillation of it?”
I read a distillation of it a few days ago and mentioned it in a post a few days ago. It does seem worthy of discussion to me.
Trump's tariff formula? That is a bit rich for a random number generator.
Think of a number...now double it...divide it by your countries trade deficit, now add 10....Is that your birthday?
Trump's formula is getting plenty of attention but the starting point of looking at goods only much less so -- why? Services are a key US export and a natural balance to a goods deficit. It appears meaningless before we even get to the formula.
TeaBagHag said...
"Why was Russia left off the list?"
Russia has nothing we want.
Russia was left off the list because most trade with Russia is now prohibited, and what isn't is subject to VERY high tariffs. Our trade with Russia dropped off a cliff after the invasion of Ukraine.
Mike Johnson is going to pull a McConneell dirt bomb trick even though senate defeated CANADA tariffs,Johnson will call and going session only! day and therefore the minimum time for the House to have to vote on no tariffs for cananda(would pass dems and repubs) the day will never change therefore they wont have to vote and trump gets his tarriffs on Cnada despite congress not wanting it.What a fukked up scenario and government rules.Its the McCONNELL YEAR HOLD OUT OF mERRICK gARLAND AGAIN ONLY DIFFERENT CIRCUmstances/ wtf THATS YOUR CONGRESS FOR YA!
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