This is after passing huge subsidies with the IRA and CHIPS act. Very interesting!

Won't this cause a lot of things to skyrocket in price? Particularly electronics?

Didn't car companies just announce they were canceling battery orders due to price?

Why are we fucking doing tariffs (╯°□°）╯︵ ┻━┻)

Damn this is actually worse than I thought.

Damn, really trying to catch up to W for the title of "dumbest modern President"

But we NEED ship to shore cranes we don’t have enough [US Flagged] for the construction that’s already underway, most of which was paid for by

Oh. The Joseph Robinette Biden Built Back Better Bill. Huh.

So this will affect like everything that costs money. Cool.

Fuck I'm not getting any new electronic devices, aren't I.

This sounds like excellent idea, carry on.

Domestic producers that don't exist. They think that by doing shit like this manufacturing facilities will spring up out of nowhere. They don't stop to reflect on the fact that the reason china has the capacity it has is because the government built it. But we will never do that here, that would be communism.

Let's set aside the fact that no competent management team would justify a multi billion dollar business case on the back of a tariff that can just as easily be lifted overnight, depending on how polls in Michigan are doing

Seriously, I’m trying to understand why the hell they would do this. It’s like shooting yourself in the foot to spite the shoemaker.

The international supremacy of the US economy relies on dollar hegemony and US imperialist foreign policy. The whole point is to be able to import cheap goods from other countries. If China’s rise is a threat to that then why accelerate the process?

The only rationale I can think of is the Biden admin legitimately thinks the Chinese economy cannot grow without access to the American market and that tariffs have the power to curtail such access. That seems so incredibly naive though for a whole number of reasons. It’s hard to imagine people with that much power are just that obtuse.

The handful of republicans in the US that might change their minds and vote for Joe.

For the EV and environmental tech companies based in the US. They'll get to suckle like a leech off climate funds, at the most expensive rate possible.

It's 4D chess, you just don't get it

China legitimately outmaneuvered the entire western world. It’s wild to compare the liberalization of their economy vs shock therapy in the USSR.

This kicks the solar industry hard in the balls

There are no domestic panels, certainly not at the scale needed to build what's in progress. Deeply stupid, harmful decision, by our fucking baby brained CHUD president

May be able to get some underwater Florida property in the far future 😭

Protectionism can be good for a country that’s looking to develop domestic productive capacity and minimize foreign imperial influence. The US isn’t doing either of those things. Not an MMT person but I’d wager it’s closer to a misstep.

you want @Droplet@hexbear.net