Tariffs.... Wins/Losses
POSTED BY: 6ixStringJack
UPDATED: Sunday, August 30, 2026 17:02
VIEWED: 3256
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Explosive moment top economist delivers seven-word blow to Donald Trump live on BBC
https://www.radiotimes.com/movies/final-destination-bloodlines-soundtr
ack/
US markets mixed after federal court blocks Trump tariffs
https://www.bbc.com/news/live/c2dekzjg6gzt
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Quote:
Originally posted by JAYNEZTOWN:
Explosive moment top economist delivers seven-word blow to Donald Trump live on BBC
https://www.radiotimes.com/movies/final-destination-bloodlines-soundtr
ack/
I can't tell if this is a joke or not.
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"I don't find this stuff amusing anymore." ~Paul Simon
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"I don't find this stuff amusing anymore." ~Paul Simon
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a war economy now
bombs and missiles flying
Europe-Iran talks yield little in Geneva at 'perilous' moment
https://japantoday.com/category/world/europe-iran-talks-yield-little-i
n-geneva-at-%27perilous%27-moment-ministers-ready-to-meet-again#comments
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Trump ending all trade talks with Canada ‘immediately’
https://www.ctvnews.ca/politics/article/trump-ending-all-trade-talks-w
ith-canada-immediately/
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their Tariffs story based on interviews
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BRICS Summit Begins In Rio De Janeiro, Xi Jinping Absent, Putin Joins Via Video Link | WION
PM Modi Joins World Leaders for Family Photo at 17th BRICS Summit in Rio
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Trump Admin Insider Blows Lid Off Tariffs: ‘It’s All Fake’
A source close to the MAGA administration suggested the president’s “deals” are all theatrics MADE FOR TV
By Will Neal | Jul. 7 2025 12:00AM EDT
https://www.thedailybeast.com/trump-admin-insider-blows-lid-off-tariff
s-its-all-fake/
A source deeply embedded in the Trump administration’s ongoing trade talks accused the Republican president of waging a tariff war for TV ratings.
“[Donald] Trump knows the most interesting part of his presidency is the tariff conversation,” the White House insider, who chose to remain anonymous out of fear of reprisals, told Politico. “It’s all fake. There’s no deadline. It’s a self-imposed landmark in this theatrical show, and that’s where we are.”
In April, the MAGA figurehead paused his sweeping “Liberation Day” tariffs to announce a three-month window for the world to negotiate new trade agreements with the United States—or face the full force of his levies.
In a subsequent interview with Time magazine, Trump claimed to have in principle already “made all the deals” with more than 200 foreign partners, before later suggesting the real number would likely be closer to just a few dozen.
Yet ahead of a self-imposed July 9 deadline, only the UK and China have inked relatively limited arrangements, with less than four days now left to go.
As global markets brace for the Wednesday deadline, Trump has lately appeared full of tough talk in his public appearances, telling reporters Friday he’d already signed more than 12 “take it or leave it” letters to various countries reminding them of the levies they’ll face if a deal is not soon reached, Reuters reported.
On Sunday, Trump announced that the first dozen letters will be sent out this week as Treasury Secretary Scott Bessent confirmed that the looming deadline has been moved again, this time to Aug. 1.
Trump appeared to revel in the uncertainty that his tariff regime has created. “We can do whatever we want,” he said of the deadline during a White House press conference Tuesday, CNBC reported. “We could extend it, we could make it shorter. I’d like to make it shorter.”
That ambivalence apparently has some of the president’s allies questioning just how far he’s willing to go to net new trade opportunities for the country.
“You have wins. Take them,” as the White House insider put it to Politico. “You only have to assume he doesn’t want to take them because he likes the game too much.”
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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A "source", according to The Daily Beast.
Okay.
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"I don't find this stuff amusing anymore." ~Paul Simon
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Quote:How about this "source"? Trump wrote letters explaining his tariffs.
Originally posted by 6ixStringJack:
A "source", according to The Daily Beast.
Okay.
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"I don't find this stuff amusing anymore." ~Paul Simon
The Tariff Beatings Will Continue Until Morale Improves
News flash: Trump is still Trump
By Paul Krugman | Jul 08, 2025
https://paulkrugman.substack.com/p/the-tariff-beatings-will-continue
Many investors seem to have deluded themselves into believing that Trump was done disrupting world trade, and some economists, myself included, were hoping that we wouldn’t keep having to write about stupid, feckless trade policy. But here we go again.
By now we were supposed to have scores of trade deals signed. Instead, yesterday Trump began posting letters on Truth Social (diplomacy!) telling a variety of countries that they would face high tariffs on Aug. 1. The first two letters were to South Korea and Japan, both told that Trump would put a 25 percent tariff on all their exports. Some countries are facing even higher tariffs. Overall, the tariff rates announced so far look very close to the widely ridiculed Liberation Day tariffs announced on April 2.
Honestly, I’ve written so much about tariffs that it’s hard to find new things to say. But let me offer a few notes on where we seem to be now.
These tariffs are really, really high
One way to look at the newly announced tariffs is in the light of history. The infamous Smoot-Hawley tariff of 1930 pushed the average tariff rate to about 20 percent. So far every country that has received a letter will be facing rates higher than that.
Another way to look at it to ask how much we would expect these tariffs to reduce trade. The key number is the elasticity of substitution in world trade — the percent fall in imports caused by a one percent rise in import prices. The median estimate from many studies is 3.8, which implies that in the long run 25 percent tariffs will reduce trans-Pacific trade by almost 60 percent. That’s a lot.
Side note: If I were a government employee, this post would probably be flagged for DEI because I just used the word “trans.”
There were never going to be genuine trade deals
These tariffs are going to hurt South Korea and Japan, although they’ll hurt U.S. consumers even more. So why didn’t Korean and Japanese negotiators make big enough concessions to satisfy Trump?
Because there was nothing for them to concede. South Korea has had a free trade agreement with the United States since 2012, so most U.S. exports to Korea face zero tariffs. Japan, like other wealthy nations, has very low tariffs on most goods. Neither country, then, was in a position to offer big tariff reductions, because their tariffs were already minimal.
Here's part of Trump’s letter to South Korea, alleging that the country’s “Tariff, and Non Tariff, Policies and Trade Barriers” are responsible for the bilateral trade imbalance:
Notice that Trump offered no specifics — because there aren’t any. How were the South Koreans supposed to end unfair trade practices that exist only in Trump’s imagination?
Here’s an analogy that occurred to me: Imagine that you have a belligerent neighbor who threatens to take revenge unless you stop dumping trash on his lawn. You reply, truthfully, that you aren’t dumping trash on his lawn. His response is to accuse you of being intransigent and slash your car’s tires.
The only possible out here would be a series of fake deals, in which countries pretend to have offered significant concessions and Trump claims to have won big victories. Some people still think that will happen — the new tariffs aren
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