WTF Community

Day 946


(Matt Kiser) #1

1/ Trump called the Federal Reserve chairman an "enemy" of the United States after Jerome Powell said Trump's trade war is a "complex, turbulent" situation. Powell, whom Trump picked for the role, suggested the trade wars were contributing to a possible global slowdown and that the central bank was facing a "new challenge" as a result. Trump, meanwhile, tweeted that the Fed "did NOTHING" and questioned who "our bigger enemy" is: Powell or China's President Xi Jinping. Trump also tweeted that he'll continue to "work 'brilliantly.'" [Editor's note: It's unclear why Trump quoted the word brilliantly in his tweet.] (Washington Post / New York Times / Wall Street Journal / NBC News / The Guardian / CNBC)


This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2019/08/23/day-946/

Can't keep up!
#2

And here we go – hold on to your seats…

  • The Trump administration said Friday it would retaliate against China’s latest tariffs with a tariff increase of its own.
  • The president tweeted that tariffs on the $250 billion of imports already in place will be raised to 30% from 25% on Oct. 1.
  • Trump also said the remaining $300 billion of imports set to go into effect on Sept. 1 will be taxed at 15%, rather than 10%.
  • Hours earlier, China announced it would levy new tariffs on thousands of American products.

Humor, memes, funny internet stuff etc
(Joan E Deely) #3

dear Matt - WTAF??? I can’t keep up with the absurdities. not the first person to ask the question, but when will 45 cross the line that will lead to his removal? clearly a lot of the truly damaging edicts, appointments and the like are engineered by people in his administration, not him. nevertheless. the candy store has been looted while he capers about on Twitter. mood today: down in the dumps, A-gain.


#4

Let’s see how this plays out in MAGA country. Wait until it sinks in how much more they (along with all the rest of us) will be paying out for groceries, clothing, electronics, home improvements, etc., etc. How long will Trump supporters remain loyal after they discover that their Chosen One has slashed their spending power?

The tariffs will be hitting in waves starting very soon – in September and October, and then in December:

Soon, it may be hard to find a Chinese-made product on a store shelf that doesn’t have a higher price tag because of new U.S. tariffs.

President Donald Trump announced double-barreled new tariffs on Chinese imports Friday after Beijing said it would retaliate against Trump’s latest duties with its own tariffs on $75 billion in U.S. products.

On Sept. 1, a tariff on some of the $300 billion in Chinese imports that was slated to be 10% instead will be 15%, Trump said. It will hit items such as school supplies, sporting goods and some clothing.

A tariff on the rest of the $300 billion – which targets other consumer products such as cellphones, apparel and footwear – has been delayed until Dec. 15, but those too will now be slapped with a 15% tariff, up from 10%.

Meanwhile, an existing 25% tariff on $250 billion in Chinese imports will rise to 30% Oct. 1, Trump said. …

Here are some of the products that could be affected:

September tariffs: 15%

These items are included on a 122-page list and expected to start Sept. 1.

Beverages: Tea, coffee, Irish and Scotch whiskies, liqueurs and cordials, wine, brandy, vodka and tequila.

Baby gear: Diapers, pacifiers, nursing nipples, infant formula, high chair and baby clothes.

Meats and dairy: Bovine, lamb, sheep, ham, geese, quail, sausage, milk, cream, yogurt, sour cream, butter and cheeses.

Produce: Tomatoes, lettuce, pumpkins, plantains, avocados, grapefruit, watermelons, cantaloupes and papayas.

In the pantry: Olive oil, maple syrup, chewing gum, cocoa powder, chocolate, pasta and condensed milk.

Clothing and accessories: Suits, jackets, pants, shorts, skirts, shirts, underwear, pajamas, sweaters, dresses, gloves, footwear, outerwear and wrist watches.

Live animals: Cattle, sheep, goats, chickens, turkeys, camels, rabbits, horses, whales, dolphins, foxes and reptiles.

Miscellaneous: Glasses, contacts lenses, sunglasses, golf carts, motorcycles, flowers, plants, blinds, shutters, linens, wallpaper, textbooks, dictionaries, books, printed calendars, wigs, drinking glasses, precious stones, iron, steel, aluminum, sewing machines, alarm clocks, grand pianos, musical instruments, brooms, pencils, pens, sanitary napkins and tampons.

October tariffs: 30%

The October tariffs are included on a 196-page list and items from China currently have a 25% tariff.

Beverages: Juices, including orange, grape, tomato and pineapple, beer made from malt, some wines and water.

In the pantry: Natural honey, jams, peanut butter, soy sauce, vinegar, flours, flaxseed, quinoa, oils, dates, figs, and nuts, including almonds, cashews, pistachio, walnuts and pecans.

Produce: Cauliflower, cabbage, carrots, radishes, beets, cucumbers, onions, celery, mushrooms, potatoes, Brussels sprouts, sweet potatoes, coconut, pineapples, fresh apples, peas, strawberries and dried fruit.

Personal care: Perfumes, makeup, shampoo, deodorant, bath salts, soap, hair clippers, petroleum jelly and sunscreen.

Seafood: There’s an ocean full of fresh, chilled and frozen fish listed, including bass, swordfish, lobster, tilapia, tuna, sardines, caviar, crabs, crabmeat, eel, oysters, scallops, shrimp and fish sticks.

Miscellaneous: Dog or cat food, tobacco, cigars, coal, sand, natural gas, metals, paints, ink, film, vinyl flooring, trunks, suitcases, some handbags, gloves, plywood sheets, paper, toilet paper, notebooks, binders, yarn, wool, woven fabrics, carpet, mirrors, vacuum cleaners, windshield wipers and furniture.

December tariffs: 15%

The tariffs scheduled to start Dec. 15 are included on a 21-page list.

Tech gear: Telephones for cellular networks, video game consoles, LED lamps, instant print cameras, cameras, and microwave ovens.

Baby gear: Strollers, infant nursery monitor systems, infant walkers, booster seats, play yards and swings.

Personal care: Shaving brushes, hair brushes, nail brushes, combs, hair accessories, electrothermic hair dryers and electric flatirons.

Miscellaneous: Fireworks, curtains, photo albums, children’s picture, drawing or coloring books, printed cards, household- or laundry-type washing machines, ceiling fans, electric blankets, bedspreads, toys for pets, camping goods, umbrellas, music boxes, string musical instruments, cigarette lighters, scales, sleeping bags, toys, magic tricks, confetti, roller skates and fishing rods.


(David Bythewood) #5

Oh boy. Here we go.

The International Emergency Economic Powers Act authorizes the president to regulate international commerce after declaring a national emergency in response to any unusual & extraordinary threat to the U.S. which has its source in whole or substantial part outside the U.S.

Trump is thus claiming that this is a national emergency, which is ludicrous, because this is trade war he created, and it is certainly NOT a national emergency. If anything, it becomes an emergency by him commanding all companies to cut off trade with China.
image

This is the border issue all over again, with Trump declaring an emergency over a situation HE created so he can twist the law to his own end.

Note that this article came out BEFORE he laid claim to using the IEEPA, and his decision to do so was probably a retcon.


(Matt Kiser) closed #6

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