Market, trading, investing & business during 47th administration

[Macam]

Looks like S. Korea didn't give enough bribes!


Trump raises US tariffs on South Korea imports to 25%

I guess RAM prices will be giving gold prices a run for their money at this rate.

 

[loki679]

Someone needs to sit him down and explain the concept of 'allies' to him.

 

[GloatingSwine]

Someone needs to sit him down and explain the concept of 'allies' to him.

To Trump and his MAGA ilk the US' military hegemony entitles it to economic and political hegemony and so anyone who believes themself an "ally" is merely a vassal with ideas above its station.

 

[flere-imsaho]

You don't need allies if you have battleships!

 

[Klinn]

Looks like S. Korea didn't give enough bribes!
Trump raises US tariffs on South Korea imports to 25%

From the linked article:

It added that South Korea's Industry Minister Kim Jung-kwan, who is currently in Canada, will visit Washington as soon as possible

Nice that South Korea will get immediate back-to-back experience of the difference between dealing with Canada versus the US bullies.

 

[Bezoar]

Polymarket has government shutdown probability hanging out at a hair under 80%, with a median estimate of an ~10-day shutdown.

This just as the flow of government generated economic data was starting to normalize. From my perspective there's been way too many coincidences on the fiscal and monetary fronts dating back to the GFC. The mushroom plan, keep us in the dark and feed us shit.

It's like the powers that be are desperately fighting a civilization-wide reset. Civil unrest, wars on anything you might consider warring over, profligate fiscal and monetary policies, every developed country in the world debasing their currencies at a breathtaking rate. The global action in the silver and gold markets being the latest blazing red flag.

Any ideas on what we should use as a yardstick to measure just how far the global economy/civilization has sunk?

 

[concernUrsus]

Polymarket has government shutdown probability hanging out at a hair under 80%, with a median estimate of an ~10-day shutdown.

This just as the flow of government generated economic data was starting to normalize. From my perspective there's been way too many coincidences on the fiscal and monetary fronts dating back to the GFC. The mushroom plan, keep us in the dark and feed us shit.

It's like the powers that be are desperately fighting a civilization-wide reset. Civil unrest, wars on anything you might consider warring over, profligate fiscal and monetary policies, every developed country in the world debasing their currencies at a breathtaking rate. The global action in the silver and gold markets being the latest blazing red flag.

Any ideas on what we should use as a yardstick to measure just how far the global economy/civilization has sunk?

lipstick sell? porn consumption? Candies sell? number of end time cultists? Money spend on bunker?

 

[Bezoar]

lipstick sell? porn consumption? Candies sell? number of end time cultists? Money spend on bunker?

Thanks.

Cosmetics - steady and growing
Porn - becoming very egalitarian with strong growth
Sugar - 20% of global crop fraction, some curious behavior of late - bears further investigation
End time cultists - subjective with little hard data
Bunker shelter sales - booming growth with expectations of a doubling by 2030 - more digging required

 

[wco81]

I've heard a couple of different things in the last day. One that there are tailwinds in the economy with the tax cuts giving out one of the biggest refunds in history as well as lower regulations, all from the OBBB.

So the Fed might cut only two times this year and maybe none at all, even if Trump gets his puppet as Fed chair.

OTOH, stock markets underperform in midterm years, supposedly.

 

[Technarch]

I've heard a couple of different things in the last day. One that there are tailwinds in the economy with the tax cuts giving out one of the biggest refunds in history as well as lower regulations, all from the OBBB.

Tax cuts for whom?

So the Fed might cut only two times this year and maybe none at all, even if Trump gets his puppet as Fed chair.

OTOH, stock markets underperform in midterm years, supposedly.

There's just way too much going on for there to be any stability in the economy.

 

[Tapeworm]

more digging required

That was terrible AND I love it

 

[wco81]

Senator Tillis says that he's going to refuse to vote for any Fed nominee until Trump's DOJ ends their "investigation" of Jerome Powell.

Tillis says Warsh is qualified to be Fed chair but he won't vote for any nominee out of the Banking committee where Republicans have a 13-11 edge. Without his vote, a nomination won't go to the Senate floor.

Republicans love Kevin Warsh. But he still has a problem in the Senate.

GOP Sen. Thom Tillis is vowing to block any central bank nominees until an investigation into Fed Chair Jerome Powell is “resolved.”

Read in POLITICO: https://apple.news/A1uf3g7DST3Wrb37yxMYuJw

 

[Macam]

Republicans say lots of things. Even retiring ones. That doesn’t mean they won’t cave.

 

[Welcome to Darwin]

Republicans say lots of things. Even retiring ones. That doesn’t mean they won’t cave.

Or they compromise a Democrat to side with them so that a token Republican can "object on principle" without actually undermining the overall agenda.

 

[wco81]

Another example of questionable data coming from the Trump administration, this tweet touting increased production at US Steel.

Production increased by only 1-1.5% yet look at the scale on the graph they tweeted.

Spoiler: tweet link

View: https://x.com/WhiteHouse/status/2017370992436249025?s=20

Pay attention to the community note.

The way the chart is presented shows that manufacturing nearly doubled, which is untrue and misleading. Manufacturing has only increased between 1% and 1.5%.

 

[yd]

Another example of questionable data coming from the Trump administration, this tweet touting increased production at US Steel.

Production increased by only 1-1.5% yet look at the scale on the graph they tweeted.

Spoiler: tweet link

View: https://x.com/WhiteHouse/status/2017370992436249025?s=20

Pay attention to the community note.

Nothing like low value added low job creation high cost steel for the majority of end users to make america great again!

 

[Technarch]

Well, the AI bubble may not be bursting, but this week does seem to have been a bit of a reality check for the markets.

 

[Soriak]

Well, the AI bubble may not be bursting, but this week does seem to have been a bit of a reality check for the markets.

Not sure: S&P 500 is down 2% over the past five days, and up 8% over the past six months. A reality check would look quite different. Also, isn't this the opposite of the AI bubble bursting? The big losses are concentrated in Saas companies because people are realizing that three guys with Cursor can now build a competing product.

 

[waubers]

Not sure: S&P 500 is down 2% over the past five days, and up 8% over the past six months. A reality check would look quite different. Also, isn't this the opposite of the AI bubble bursting? The big losses are concentrated in Saas companies because people are realizing that three guys with Cursor can now build a competing product.

That might be what traders are thinking, but the companies gettig hit the hardest are in many cases, having nothing to do with things that AI will impact. Off the top of my head, how is Arista going to get displaced by AI? If anything they should be going up since they're so important to the hyperscalers and to providing high-throughput networking for AI workloads. Pure Storage is down 12% this week...WTF does they have to do with SaaS vendors? Sure, they do "storage as a service" but again, they're going to be strengthened by AI workload needs.

This is toxicity flowing through an entire sector. My own company is getting hammered, and the number of people opining about it on reddit who have no clue what we actually do is wild. Like, people saying things that aren't even tangentially relevant to us or our product as the cause why our stock is down. Might as well be saying "The soybean harvest is going to be bad this year, so I better sell my Nintendo Wii* games."

*yes, Wii not Switch.

 

[dio82]

The big losses are concentrated in Saas companies because people are realizing that three guys with Cursor can now build a competing product.

That was an awesome joke. There will be precisely zero vibe coded competing products. There will be a plethora of shitty low effort apps. Those low effort apps will be a new market on its own. But the same mechanism that enables these shitty apps is the same mechanism that enables the professionals to widen and deepen the moat of existing SaaS products even more.

 

[concernUrsus]

That was an awesome joke. There will be precisely zero vibe coded competing products. There will be a plethora of shitty low effort apps. Those low effort apps will be a new market on its own. But the same mechanism that enables these shitty apps is the same mechanism that enables the professionals to widen and deepen the moat of existing SaaS products even more.

I mean shittfication seems going on before AI. AI just accelerates it. Every companies want things that is quick and easy, and refuse to look under the hook. I hate that part of my job (look under the hook and realize our products are not as "controlled" as it could be).

We are going to see TEMU as quality soon given our current direction for everything.

 

[yd]

Someone needs to sit him down and explain the concept of 'allies' to him.

"Rallies, did someone say rallies, excellent! I can do my two invisible dick dance and tell my story about the scorpion and the frog while grunting and doing weak press ups!" trump

How did I miss this hehe

 

[wco81]

Trump is betting on a big stimulus to boost the economy leading to the midterms.

OBBB will deliver one of the highest income tax refunds for many Americans this yearr along with lower withholding.

Overall it would effectively be $200 billion in stimulus, with the consequences, like greater debt and financial stability something a successor would have to deal with.

This year won’t be like most years. President Trump is taking unprecedented steps to run the economy hot, and there is an excellent chance he’ll succeed.

Washington has three big levers that affect growth: fiscal policy (taxes and spending), monetary policy (interest rates) and credit policy (the ease of borrowing). Historically, they were not coordinated: Fiscal policy followed the congressional cycle, monetary policy was set by an independent Federal Reserve and credit policy reflected often random decisions by regulators.

This year, all three are dialed toward stimulus, reflecting a single-minded focus by Trump and congressional Republicans on faster economic growth.

They hope that will deliver victory in the November midterm elections.

In the process, they are compromising other goals: taming debt, Fed independence and long-term financial stability. The consequences of that come later.

Fiscal flip

The first reason to be bullish on 2026 is that 2025 was remarkably good (even if many Americans disagree). Gross domestic product adjusted for inflation probably grew around 2.5%, in line with the solid pace of the previous two years. The main drivers were investment in artificial intelligence and data centers, plus consumer spending boosted by a strong stock market. This didn’t come by using up spare capacity; the unemployment rate actually edged up.

So the baseline for growth in 2026 should be well above 2%. Now recall that last year’s performance came despite restrictive fiscal policy. Trump’s tariffs raised roughly $200 billion, most of it paid by American businesses and households.

This year, average tariffs aren’t going up, and might go down if the Supreme Court rules that some were imposed illegally.

Meanwhile, the tax-and-spending bill Trump signed into law in July delivers new or expanded tax deductions, in particular for state and local taxes, overtime, tips and seniors.

Although those tax cuts were retroactive to the start of 2025, tax withholding tables were only adjusted at the start of this year. This will generate a double-barreled stimulus. Many workers will see both higher take-home this month and a refund on last year’s taxes when they file their returns.

Donald Schneider, a policy analyst at Piper Sandler, sees this injecting nearly $200 billion into the economy, enough to boost first-half annualized growth up to half a percentage point. He also sees stronger investment from the bill’s provisions allowing businesses to fully write off capital spending.

https://apple.news/A0VpDBaRDQeG9dINqAgn0Jw

 

[Lt_Storm]

That was an awesome joke. There will be precisely zero vibe coded competing products. There will be a plethora of shitty low effort apps. Those low effort apps will be a new market on its own. But the same mechanism that enables these shitty apps is the same mechanism that enables the professionals to widen and deepen the moat of existing SaaS products even more.

IDK, because I think he's right. After all, who wants products that actually work? Not the finance bros, that's who. And the finance bros rum just about everything these days. So, if you have a nice high quality app, it won't be to long before the finance bros arrange a hostile takeover and replace all your working code with slop. If you don't like it, tough, because finding something that's not a streaming pile of shit will only become more impossible.

Thanks AI. Everything is great now.

 

[wco81]

Trump and the GOP are betting heavily that fiscal stimulus in the form of tax cuts and changes to benefit businesses in the OBBB will boost voter support leading up to the midterms.

But skeptics think many people won't care about bigger tax refunds if the additional money is absorbed into higher costs for health insurance premiums and other goods and services.

Also, the refunds will all come by the spring/early summer and may be forgotten by November.

President Donald Trump is betting that larger tax refunds this spring will help sate Americans’ cravings for economic relief and boost GOP fortunes in November. The political payoff may be fleeting.

The White House believes the average refund could increase by $1,000 thanks to tax cuts in the GOP’s signature legislation, passed last summer. But as tax season kicks off, economists and Republican strategists — and even some of the president's own allies — warn that the boost American households receive from the refunds may wear off by November.

While Trump and his top advisers have been banking on the refunds as a pocketbook proof point — a moment when voters would finally feel the economy turning in their favor — those skeptics caution that the money could be quickly swallowed up by stubbornly high prices elsewhere.

“The sugar high will be short-lived if [the refunds], in fact, go toward paying and supporting prices of things like additional health care costs, additional insurance costs, additional electricity costs, additional heating costs,” said Diane Swonk, chief economist at the accounting firm KPMG U.S. “The real issue is we’ve gotten prices way out of line, and it takes a very long time to catch up.”

Even allies warn that in a rapid-fire news cycle, the refunds may be long forgotten by the time voters show up to the polls. So far this year, Trump has struggled to keep the spotlight on affordability, with his high-profile speeches quickly overshadowed by everything from a possible invasion of Greenland to ongoing immigration clashes in Minnesota.

“Any employer will tell you that when they give their employees a bonus, they get goodwill for a little bit, but six months later, the employees have forgotten about their bonus,” said Alex Conant, a GOP strategist. “[Voters] won’t remember it unless the president and candidates remind them.”

‘The sugar high will be short lived’: Trump’s big bet on tax refunds might not pay off
While Trump and his top advisers have been banking on the increased refunds as a pocketbook proof point to voters, skeptics caution the money could be quickly swallowed up by stubbornly-high prices elsewhere.
Read in POLITICO: https://apple.news/AKwzz9FchQtWSoKEYZpJqhA


Shared from Apple News




While the administration flacks like Bessent will try to keep reminding voters of these large refunds, many people won't even benefit, maybe hearing about others getting $1000 more but they themselves don't get anything near that.

The previous Trump tax cuts in 2017 became unpopular and didn't prevent a huge swing to Democrats in the 2018 midterm, when one of the largest issue was health care. Trump tried to repeal the ACA and made preexisting conditions the biggest talking point and weapons to use against Republican candidates.

The 2017 tax cut became so unpopular that Republicans were forced to pivot to other issues like immigration and health care; ultimately, the GOP lost 41 seats in the 2018 elections. As early as last spring, Bessent was warning about the political consequences that could arise if Republicans failed to move quickly on Trump’s tax agenda.

But the Trump administration this year has an issue it did not have to contend with during its first term: a persistent cost-of-living problem that is coloring voter perceptions over the state of the economy. And while economists note that Trump did not create the problem, he hasn’t solved it either, which means the additional refund could be eaten up by higher prices for everything from housing to food.

Tax cuts and larger tax refunds can also lead to higher spending, which is expected to slow the process of bringing down inflation that’s been toxic to Trump’s approval ratings. And pocketbook pressures are compounded by an unusually cold winter, driving up electricity and other heating bills, as well as rising health insurance costs.

The White House, meanwhile, has been selling this spring as “the largest tax refund season in U.S. history,” with Bessent estimating that between $100 billion and $150 billion will be returned to households.

A recent analysis from BofA Global Research estimates that refunds in 2026 could be $65 billion higher than in 2025 — when Americans received $93.5 billion back from the government — with most of those payments made between February and April.

But very few low-income filers are expected to receive a refund, according to a recent analysis by the nonpartisan Tax Foundation. While some may see other benefits – including from the elimination of taxes on tipped income, or the larger child tax credit — the workers feeling the biggest pinch from the affordability crisis are least likely to get a check thanks to Trump’s tax bill.

Trump also passed out $1000 checks when the pandemic hit and made sure to have his signature on the checks. That didn't prevent a big defeat in the 2020 elections, though of course he thinks he won.

 

[Technarch]

Trump also passed out $1000 checks when the pandemic hit and made sure to have his signature on the checks. That didn't prevent a big defeat in the 2020 elections, though of course he thinks he won.

Offtopic: Trump knows he didn't win. If he did he wouldn't have tried half a dozen increasingly violent ways to overturn the results.

Ontopic: I am skeptical that 1) ordinary Americans will see significant tax refund increases, if any, and 2) that any such refund would outweigh the extreme K-shaped economy voters are seeing.

 

[wco81]

Mike Johnson failed to prevent a vote in the House to cancel the tariffs on Canada and 6 Republicans voted along with the Democrats to rescind tariffs on Canada, 219-211. Trump had threatened on TS any Republicans who voted to rescind the tariffs.

Even if it passes the Senate, it won't be veto-proof majorities but it may have some midterm campaigning value as the tariffs are very unpopular.

The resolution to disapprove of the national emergency Trump declared to raise tariffs on Canada, was approved 219-211. Republican Reps. Kevin Kiley of California, Thomas Massie of Kentucky, Don Bacon of Nebraska, Brian Fitzpatrick of Pennsylvania, Jeff Hurd of Colorado and Dan Newhouse of Washington voted for the resolution. Rep. Jared Golden of Maine was the only Democrat to vote against the measure.

Trump threatened those in his party who voted against his tariffs in a Truth Social post moments before the vote was finalized.

“Any Republican, in the House or the Senate, that votes against TARIFFS will seriously suffer the consequences come Election time, and that includes Primaries!” Trump wrote. “TARIFFS have given us Great National Security because the mere mention of the word has Countries agreeing to our strongest wishes. TARIFFS have given us Economic and National Security, and no Republican should be responsible for destroying this privilege.”

The resolution now goes to the Senate, where it could pass; the upper chamber has already approved two similar resolutions on Trump’s Canada tariffs with the support of four Republicans. But the president would certainly veto it, and Congress is unlikely to muster the two-thirds majority in both chambers needed to overturn a veto.

Even so, House Speaker Mike Johnson tried to block the vote from happening at all, fearing the political fallout for his GOP members. Trump’s tariffs have proven politically unpopular over the past year — a POLITICO poll even found that self-identified MAGA Republicans are split on them — and Democrats have overperformed in off-year and special election campaigns that have focused on affordability.

Both Hurd and Newhouse said they voted for the resolution because the tariffs are hurting businesses in their home states — and because they felt Congress should have control over trade policy.

“Congress should not tie its own hands on our Constitutional authority to levy tariffs,” Newshouse said in a post on social media. “While I understand the President’s approach to utilize tariffs as leverage to secure more trade deals, the fact of the matter remains the tariffs on Canada have harmed Washingtonians.”

Republican leadership urged members to wait to weigh in on tariffs until the Supreme Court determines whether Trump overstepped his authority by implementing the tariffs, a ruling that could come as soon as next week.

But Johnson’s bid to restart House Republicans’ nearly yearlong blockade on tariff votes failed Tuesday, after a handful of Republican members joined Democrats in rejecting a procedural maneuver that would have established a moratorium on such votes until August.

https://www.politico.com/news/2026/02/11/house-rebukes-trumps-canada-tariffs-00776898

 

[karolus]

Trump and the GOP are betting heavily that fiscal stimulus in the form of tax cuts and changes to benefit businesses in the OBBB will boost voter support leading up to the midterms.

But skeptics think many people won't care about bigger tax refunds if the additional money is absorbed into higher costs for health insurance premiums and other goods and services.

Also, the refunds will all come by the spring/early summer and may be forgotten by November.




‘The sugar high will be short lived’: Trump’s big bet on tax refunds might not pay off
While Trump and his top advisers have been banking on the increased refunds as a pocketbook proof point to voters, skeptics caution the money could be quickly swallowed up by stubbornly-high prices elsewhere.
Read in POLITICO: https://apple.news/AKwzz9FchQtWSoKEYZpJqhA


Shared from Apple News




While the administration flacks like Bessent will try to keep reminding voters of these large refunds, many people won't even benefit, maybe hearing about others getting $1000 more but they themselves don't get anything near that.

The previous Trump tax cuts in 2017 became unpopular and didn't prevent a huge swing to Democrats in the 2018 midterm, when one of the largest issue was health care. Trump tried to repeal the ACA and made preexisting conditions the biggest talking point and weapons to use against Republican candidates.



Trump also passed out $1000 checks when the pandemic hit and made sure to have his signature on the checks. That didn't prevent a big defeat in the 2020 elections, though of course he thinks he won.

A lot of good a measly $1,000 will do for a family facing insolvency.

 

[sword_9mm]

I have yet to see any 'tax cut' make any difference to my take home or refund.

Yay 5$ extra back so Musk can keep 500 billion. I feel so fucking blessed.

 

[Starbuck79]

A lot of good a measly $1,000 will do for a family facing insolvency.

The White House believes the average refund could increase by $1,000 thanks to tax cuts in the GOP’s signature legislation,

Also, with an "Average" refund that means that some will get tens of thousands or millions, while others get little at all. "Average" Refunds mean absolutely nothing. Lets see what a Median Refund is or Refund for people making less than $100,000

 

[wco81]

Looks like Democrats are going to try to force more tariffs votes. After they got the House to pass a vote to rescind Canada tariffs, they plan on forcing votes on tariffs against Mexico, Brazil and other countries.

The goal is to force vulnerable Republicans in competitive districts to vote for Trump's tariffs, to use the vote against them as an affordability argument, that the Republican incumbent supported Trump's tariffs as they raised prices.

Trump has threatened Republicans who vote against tariffs but the WH is also scrambling to make sure Republicans won't vote to override a veto.

Johnson is trying to convince Republicans to vote against rescinding the tariffs, arguing that the SCOTUS decision is imminent. So Democrats want to get a lot of swing-district GOP incumbents to vote on the record

Democrats are now preparing to move ahead with multiple additional resolutions overturning Trump’s tariffs in Mexico and Brazil, as well as the president’s global “Liberation Day” tariffs. They see them as up-or-down referendums on a key policy driving up costs for Americans as recent special and off-year elections show voters turning against the GOP.

“Those folks are starting to speak out,” said Rep. Gregory Meeks of New York, the top Democrat on the House Foreign Affairs Committee and the lead proponent of the tariff votes. “Those are warning signs to them that they need to do what the right thing is, and not just follow the president and his wayward ways.”

Tariff politics are already making their mark on a number of campaigns — especially in districts and states where manufacturing or agriculture have been adversely impacted. Rep. Haley Stevens, who is running in a competitive Democratic primary for a Michigan Senate seat, has hammered the Trump levies as part of her affordability message.

https://www.politico.com/news/2026/02/12/house-tariff-votes-republicans-affordability-00777567

 

[wco81]

Companies are raising prices now, after holding off in the fall. They cite tariffs, higher labor and heath care costs as the reasons.

Companies from Levi Strauss & Co. to McCormick & Co., among others, say they are raising prices early this year on items from bluejeans and spices to housewares and industrial products.

After holding the line on prices for several months, companies—big and small—have begun a new round of increases, in some cases by high-single-digit percentage points.

Companies had raised prices last year after tariffs hoisted costs. Yet starting in the fall, many firms held off on increases and sometimes offered discounts to capture holiday shoppers.

The pricing break is over. Many companies typically raise prices at the start of the new year. Yet increases appeared to be stronger than normal for January for electronics, appliances and other durable goods, said UBS economist Alan Detmeister.

Some companies have pointed a finger at tariffs for their increases, while others, especially small businesses, also blame higher wages and hefty health-insurance costs that firms said they can’t absorb or share with suppliers.

Prices on the most affordable imported goods are up by 2.3% since dipping at the end of November, according to data through Feb. 10 collected by Alberto Cavallo, a Harvard Business School professor who tracks daily online prices at major U.S. retailers.

The Adobe Digital Price Index found that online prices posted their largest monthly increase in a dozen years in January, driven by higher prices for electronics, computers, appliances, furniture and bedding.

Columbia Sportswear said it is upping prices of spring and fall merchandise by, on average, a high single-digit percent after mostly avoiding increases for fall and winter goods. The company said it has also renegotiated prices with its factories and taken other steps to reduce costs.

“When combined with our other mitigation tactics, our goal in ’26 is to offset the dollar impact of high tariffs,” Chief Executive Tim Boyle said in an earnings call earlier this month.

Such new price increases follow last year’s wave of tariff-driven price hikes. Retail prices started falling beginning in October, with the biggest drops before Black Friday, Harvard’s Cavallo said. But they then started rising again, particularly after Christmas, in what looks like a postholiday reset.

Levi Strauss raised prices last month in response to tariffs and is rolling out additional price increases this month. Among the items now costing more: ribcage straight ankle women’s jeans, priced $10 more at $108, and original fit men’s jeans that are $5 more at $84.50.

Read in The Wall Street Journal: https://apple.news/AtTyg-pA2QASihDuxFejY1Q

$100 for Levis?

 

[wco81]

A big Trump donor, who talked up tariffs and bringing back manufacturing to the US, is shutting down an OH plant and moving production to China.

John Paulson, a hedge fund billionaire and one of Donald Trump’s earliest Wall Street backers, is planning to offshore an Ohio manufacturing plant to China despite heavy pushback from employees.

Workers at the plant call the move “a slap in our face”, after Paulson vocally defended domestic manufacturing, and are fighting to keep the plant open.

Conn Selmer, the largest US manufacturer of brass and orchestra instruments, told the union it planned to offshore most work at its Eastlake, Ohio, plant to China by the end of June 2026, eliminating 150 jobs.

United Auto Workers (UAW) Local 2359, which represents the 150 employees, said workers were informed of the closing when it first sat down to bargain over their new union contract last month.

Read in The Guardian: https://apple.news/ALiWjctbWT8CmBFL6YWY65g

Paulson, like Trump, has publicly criticized offshoring. “We can’t have American producers closing American factories and offshoring. We need to protect American jobs and protect American manufacturing,” he said during an interview with CNBC in September 2024.

Hines said offshoring the brass plant would be deeply offensive to workers after Paulson painted himself as an advocate for domestic manufacturing.

“To go publicly on CNBC to support the Trump administration’s positive views on tariffs and all that stuff, and then you turn around and [say you] want to go send the work right over to China,” Hines said. “It’s a slap in our face.”

The union hopes that Trump intervenes and orders Paulson to keep the OH plant open.

 

[greatlakeexpat]

A big Trump donor, who talked up tariffs and bringing back manufacturing to the US, is shutting down an OH plant and moving production to China.



Read in The Guardian: https://apple.news/ALiWjctbWT8CmBFL6YWY65g



The union hopes that Trump intervenes and orders Paulson to keep the OH plant open.

Narrator: He won't as we've heard this story before:

https://www.wthr.com/article/money/...deal/531-83a116eb-93f6-4fdc-8791-5b34b96aff19

INDIANAPOLIS (WTHR) - Hundreds of people are now out of a job after Carrier made their final round of layoffs.
It was the official last day for 215 people who have know for months that the job cuts were coming.
"They delayed our layoffs," said Tasia Oliver. "We had plans for December, then they laid us off in January so we were, like, we had plans for December. December 22 was our last day."

The cuts leave about 1,100 workers at the Indianapolis plant, down from some 1,600 factory and office jobs when Carrier announced plans in early 2016 to move production to Mexico.
It's all part of the deal that then-President-elect Donald Trump made with Carrier's parent company, even coming to Indy to tout the plan. But Local Steelworkers 1999 President Chuck Jones wishes things would have gone differently.

I'm sure this time, trickle down economics will work. Just have to keep pissing down people's legs.

 

[wco81]

Trump was suppose to have a news conference about the tariffs decision but he's already 30 minutes late. He's already cried about the decision on social media.

State of the Union, Roberts, who wrote the majority opinion, is going to be sitting right behind him.

The thing is, this decision, which was the only one that was constitutionally viable, may actually help this dumbass in the midterms.

Prices were set to go up as importers were no longer going to absorb a lot of the tariffs costs. So it lightens the inflationary pressures. Today PCE came in at 3%.

Not only that, in addition there will be big income tax refunds as the OBBB injects some money into the economy this year.

Depending on how the reimbursements of tariffs are distributed, it could help consumers.

Also the tariffs were very unpopular. Democrats were going to make hay by forcing more votes after they got the House to successfully cancel the tariffs against Canada.

So no matter how much he bitches at the SCOTUS, they might have helped his sorry ass.

 

[Gisboth]

State of the Union, Roberts, who wrote the majority opinion, is going to be sitting right behind him.

Who do you speculate Roberts will replace when sitting right behind Trump: VP or Speaker of the House?

 

[wco81]

Trump announces 10% tariffs to replace the IEEPA tariffs which just got struck down. But the authority under which he'd be invoking it is temporary.

President Trump will impose a 10% global tariff under a different authority, and said he was "ashamed of certain members of the court" over today's ruling.


Trump said Friday that the Supreme Court's decision to throw out his signature tariffs was disappointing and other alternatives would be used to implement trade duties.


Trump said the new 10% global tariff would be "over and above our normal tariffs already being charged. “We have alternatives,” Trump said. “Great alternatives.”


The new tariffs will be imposed under Section 122 of the Trade Act of 1974, Trump said, which allows the president to impose tariffs for up to 150 days. During that time, Trump said they would also begin new tariff investigations under Section 301 of the Trade Act, which can result in more permanent tariffs.

https://apple.news/AGe9XxCcDRmqnUkP10JOToA

He said he should have used other authority but the fact is, no other authority gives him as much free reign, to impose any amount for any period of time.

Turns out IEEPA didn't give him that authority either but the SCOTUS took its sweet time. Maybe they delayed over whether to explicitly require reimbursements but it doesn't mention it either way.

 

[Dev Null]

So no matter how much he bitches at the SCOTUS, they might have helped his sorry ass.

G'luck getting him to recognize that. SCOTUS made him look like a loser, so Trump has already said he's going to retaliate bigly against the American people.

 

[Shavano]

Companies are raising prices now, after holding off in the fall. They cite tariffs, higher labor and heath care costs as the reasons.

I wonder if they've been informed that prices are set by the market and you can't charge more than people are willing to pay for discretionary items.

 

[educated_foo]

I wonder if they've been informed that prices are set by the market and you can't charge more than people are willing to pay for discretionary items.

Walmart's stock is up 26% for the year. People are willing to pay what the prevailing monopoly charges for non-discretionary items like food and clothing.