Trump Announces Big Tariffs For Our Friends, Little Tariffs For China

[Zorro]

The Trump administration announced Friday it would impose new tariffs on goods from Canada, Mexico, and China, to go into effect today. Almost immediately after that, the stock market drove off a cliff, flipped over several times, and burst into flame. See what happens when you let Toonces drive the economy?

At yesterday’s press briefing, Press Secretary Karoline Leavitt announced the tariffs of 25 percent on goods from Canada and Mexico, and 10 percent on goods from China, apparently after spinning a wheel and deciding the reason was … oh, how about fentanyl? Yeah, why not fentanyl! It’s not immediately clear how raising import duties on cars, produce, and energy will have an effect on the illegal drug trade, but Trump has been itching to slap some tariffs on something and wreck Joe Biden’s good economy, so here we are.

On top of the new duties on Canada, Mexico, and China, the Washington Post reports (gift link), the administration also plans “additional import taxes on European goods, semiconductors, pharmaceuticals, steel, aluminum, copper, and oil and gas.”

Asked about the economic effects of the broad range of new taxes, Trump burbled some inane crap about how there might be “some temporary short-term disruption,” but no biggie, because “People will understand that.”

Trump has never in his life acknowledged that tariffs are actually paid by American companies that import goods, with the costs usually passed on to consumers with higher prices. Instead, he pretends other countries pay the tariffs, because he is an idiot and a liar. That was the case Friday, when he told reporters, “Tariffs don’t cause inflation. They cause success.”

https://www.wonkette.com/p/trump-announces-big-tariffs-for-our

[PortTack]

1. I have yet to see any news source say he actually imposed tariffs...did he?