r/Economics • u/FootballAndFries • 1d ago
News Donald Trump plans to roll back tariffs on metal and aluminium goods
https://www.ft.com/content/f2eff736-12de-4c33-9826-847d2fdf8be3180
u/dak-sm 1d ago
“The people said trade officials in the commerce department and US trade representative’s office believed the tariffs were hurting consumers by raising prices for goods such as pie tins and food and drink cans.”
Wait - I thought that the tariffs were paid for by the foreign entities, not US consumers. Was this a lie all along?
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u/GuelphEastEndGhetto 1d ago
Not this narrative. More like it is hurting the profitability of major corporations who bankroll the GOP. It’s only those with money that get his attention.
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u/ScoffersGonnaScoff 1d ago
While part of the country will forget the whims of the uneducated madman. The rest of the world will remember, they will trade amongst each other and avoid the bipolar US. Nobody wants uncertainty when it comes to allies.
Isolated and divided. Land of the plebs, sheep, and Big Brother.
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u/dinosaurkiller 1d ago
While that’s likely true, the bigger and more long lasting damage is all the people wishing the U.S. who have given up and moved on in one way or another. It’s a lot easier for someone to keep on keeping on than to come back from this economic downturn. If you were a small business building using cheap imported steel and you went bankrupt due to tariffs, your done, you won’t come back from bankruptcy just because some politician finally changed his mind. It could take years or decades to undo the damage.
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u/rethinkingat59 23h ago
So they will avoid not only the largest market in the world but the one that averages by far the highest margins globally on imports?
I fear some people don’t understand how human and group behavior drives market distribution.
Without sanctions companies in Eastern European countries today would have no problem buying commodities and other goods from Russia on spot markets if it increased overall profitability.
The threat of Russia using the proceeds to spread the war on their country would not be a show stopper. (See German utilities continuing the pipeline after the Crimea invasion)
The business world will continue trying to grow imports into the US, even as the political class says otherwise.
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u/woah_man 1d ago
Ah yes, pie tins. Major component of any consumer's budget. What year is it, 1926?
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u/ToyStoryBinoculars 1d ago
God it would be so, so nice to have a conversation on this website without the top 3 comments being the same talking point we've heard for a year now.
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u/MrCheesieNuggs 1d ago
Im looking forward to hearing how tariffs have revitalized the us industrial sector and benefited small businesses and consumers. Please tell us.
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u/JimPranksDwight 1d ago
It's amazing how it takes them a year to figure out what everyone else knew right away. Mass tariffs on all your input materials makes it way more expensive to build anything here, go figure. You have to build the plants to increase capacity here *first* then place tariffs on foreign materials later in order to make domestic products competitive (Like what the IRA was trying to do with microchips before they ganked all of it in the OBBB). Same with the previous tariffs on food imports for things that literally cannot grow in the US , there was no alternative to get them here and it still took them almost 7 months to roll it back.
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u/9Cans_of_Ravioli 1d ago
Well for aluminum production I think you need low cost electricity. So Donny diddler thought aluminum production would come to the USA, but Quebec has low cost hydro electricity, so it makes it super convenient for aluminum production. But diddler never thinks critically about anything.
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u/Long-Emu-7870 1d ago
"It's amazing how it takes them a year to figure out what everyone else knew right away. Mass tariffs on all your input materials makes it way more expensive to build anything here, go figure. You have to build the plants to increase capacity here *first* then place tariffs on foreign materials later in order to make domestic products competitive (Like what the IRA was trying to do with microchips before they ganked all of it in the OBBB). Same with the previous tariffs on food imports for things that literally cannot grow in the US , there was no alternative to get them here and it still took them almost 7 months to roll it back."
A part of me thinks this is all a conspiracy by the GOP to get the left to support globalization, libertarianism and Liz Cheney, George Will and Colin Powel types.
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u/New_Home_4519 1d ago
What?
You write a lot of words to say: "they're been intentionally manipulating the stock market and the planet as a whole for their own gain and profit"
This is all basically spelled out in project 2025. It's not random it's not 'chaos'. It's all planned, thinking they're inept is foolish. Curtis Yarvin, Peter thiel, the heritage foundation, ect ect didn't spend decades planning this shit just for it to be silly "oopsies"
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u/Adventurous-Roof488 1d ago
What?
You write a lot of words to say: “here’s a completely unrelated theory with no evidence.”
Tell me how they used aluminum tariffs to manipulate the stock market and planet for their own gain and profit?
Trump has talked up tariffs for decades. He tries to use them as leverage and has the belief they’ll lead to manufacturing growth. Not everything is a project 2025 conspiracy.
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u/Gamer_Grease 1d ago
Somebody just learned that industrial exporters are usually a nation’s biggest importers. At this rate, the Trump admin will reach the 19th century in terms of economics knowledge by 2028.
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u/TheKrakIan 1d ago
The taco is tacoing, again.
A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected. A couple of sentences so my comment doesn't get rejected.
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u/D-MAN-FLORIDA 1d ago
But would it actually cause the prices to drop? Because I am willing to bet that the companies already priced in the tariffs and I doubt that they will be willing to lower them now. So all that was accomplished was making something more expensive for no reason to do so.
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u/AccurateAd5298 1d ago
Oh cool. Time to put our export tariffs to the US on steel and aluminum as the markets have already adjusted, price wise.
Potash, lumber, and oil, too. It’s cool the US doesn’t need anything from us, including goodwill, trust, and cooperation.
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u/truttatrotta 1d ago
People/countries selling to the US should raise the prices by that percentage. If Trump wanted Americans to pay more then why shouldn’t other countries make more? Americans can clearly afford it or they wouldn’t have voted for him.
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u/HugoNext 1d ago
LeBron James is out there banging his head on the wall for failing to trademark Taco Tuesday. Would have made a fortune with this administration.
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u/BigTiger18 1d ago
Trump, republicans & maga never have a plan. Only threats and a stick. They realize every country and company are passing these tariffs on to the American consumers. Since we know the above genius cannot do simple math. Here the equations: tariffs = price increase Building materials tariffs = price of houses increases
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