Is the US going to Annex Canada? by force? or just destroy the Canadian Econ for fun

[summit]

Senate passes measure to overturn Trumps tariffs on Canada!

[J. Barron DeJong]

Senate passes measure to overturn Trumps tariffs on Canada!

Yes, but... the House is unlikely to pass it, and even if they do Trump has said he will veto it. So we would need 2/3 majorities in both the House and Senate to make it veto-proof.

[Casey E]

The Trump slump

[gravitylover]

It looks like one of the companies I work with will end operations on Friday. The products are made in Vietnam and they are pretty sure they can't sell at what the new price will have to be. That's about $40k I won't make this year

[yeahman]

I think people are assuming everything will go up a lot so they might as well try? Rather than just "end operations"?

[DougW]

My summary as trying to get mind around itall oil imports 10% tariff, so tax on refiners that use heavy oil some midwest and gulfcoast, so exports of refined pet will sufferpotash 10% so tax on farmersbig tax on auto buyers both offshore and NA , will take some time to detangle auto part supply chains big tax on US aerospace short Boeing??Saw some huge stock losses on home store like RH ( high end) down 40% Williams Somona down ( mid end) 17% - some people think rich people are going to be buying $$ furnitureOil stock hit, ressession to cause big drop in demand and price ? oil down 6% thats a drop

[gravitylover]

They have enough product on the water that will be hit with that 46% plus another 20 on some of the components that it will send the COG beyond where it can be profitable. They are talking about pausing rather than stopping. We will see...

[gravitylover]

They have enough product on the water that will be hit with that 46% plus another 20 on some of the components that it will send the COG beyond where it can be profitable. They are talking about pausing rather than stopping. We will see...

[The AD]

Yes, but... the House is unlikely to pass it, and even if they do Trump has said he will veto it. So we would need 2/3 majorities in both the House and Senate to make it veto-proof.

To me it still seems worthwhile as a symbolic gesture.

[J. Barron DeJong]

To me it still seems worthwhile as a symbolic gesture.

I agree. At the very least it gets Republicans on the record in support of this destructive bullshit.

I just do not think anyone should be holding their breath that the tariffs are going be called of because of this.

[J. Barron DeJong]

“You have a trade deficit with your hair stylist, does that mean you need to learn to cut your own hair?” -Comment on CNBC moments ago


https://bsky.app/profile/jaspar.bsky.../3llw3yxmvsc2h

[J. Barron DeJong]

Senators Chuck Grassley (R) and Maria Cantwell (D) just introduced a bill to reassert Congress’s power over tariffs.

—President must notify Congress on new tariffs within 48 hours of imposition.

—Congress must approve them within 60 days or they expire.

https://www.cantwell.senate.gov/imo/...review_act.pdf

https://bsky.app/profile/sahilkapur..../3llw5dpqlyk2m

(Again, thi would be a new law, so Trump can veto it. Need 2/3 in each house to make it veto proof.)

[J. Barron DeJong]

Fucking clown show:

Brendan Duke
@Brendan_Duke
Incredible stuff--they wanted to make the thing seem more sophisticated than it is so they threw in two Greek letters but selected values that cancel out so it's still just trade deficit divided by imports.


(you'll need to click the link to see the formula)

Parameter Selection
To calculate reciprocal tariffs, import and export data from the U.S. Census Bureau for 2024. Parameter values for & and were selected. The price elasticity of import demand, €, was set at 4.
Recent evidence suggests the elasticity is near 2 in the long run (Boehm et al., 2023), but estimates of the elasticity vary. To be conservative, studies that find higher elasticities near 3-4 (e.g., Broda and Weinstein 2006; Simonovska and Waugh 2014; Soderbery 2018) were drawn on. The elasticity of import prices with respect to tariffs, , is 0.25. The recent experience with U.S. tariffs on China has demonstrated that tariff passthrough to retail prices was low (Cavallo et al, 2021).

https://bsky.app/profile/carlquintan.../3llw7cx2bd22z

[bennymac]

lol JFC this is amateur hour

paging Cono to explain how this makes sense

[grinch]

https://www.instagram.com/reel/DH_SJ...w1Nndta3JydA==

Sent from my SM-S711W using TGR Forums mobile app

[bodywhomper]

It will be interesting to see how much car insurance premiums change and when those changes will go into effect


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[Ted Striker]

The clown meme is overused, but that one is chefs kiss

[The AD]

Oh my God that would be funny if it didn't affect the world economy!

[Ted Striker]

paging Cono to explain how this makes sense

He's busy posting his delusions of magnanimity with a side order of I told you so.

(edit: in the stock market thread in case that was unclear)

[Trackhead]

What would you guys do if you didn’t have Cono to obsess about?

In regards to four brave Republicans voting against party lines….maybe it’ll break the ice for more would be chickenshits to step up for what is right in the future.

[BmillsSkier]

When their donors start calling complaining about how this nonsense is cratering their businesses (nevermind the global economy) thats when they start to find their moral compass.

[dan_pdx]

Quote: "So Americans will pay a lot more for ski equipment"

Bikes.

A good time for On3P, Donek, Vanilla, Lynskey and Litespeed. Too bad about everyone else.

[XXX-er]

well I have been sayin get on with the carnage which is actualy really easy when it won't affect me one bit

but yeah more people need to hurt to feel pain and write their congressman

all them people who didnt vote all them people who just thot trump was funny all them people who didn't really know where Canada was,

buddy who " lost muh job makin silverdos "

buddy paying 75cents a gallon more for RUG

[bennymac]

What would you guys do if you didn’t have Cono to obsess about?

We’d have to switch to obsessing about how Canada has hurt the feelings of everyday Americans?

[Trackhead]

It's good to have a Plan B.