If I was Xi I’d reciprocate and impose a 500% export tariff on Apple. It would demonstrate that’s it’s a two way street when it comes to leverage as clearly Trump is worried about the tech sector.
Ah but don’t forget Apple use Foxconn for manufacturing (like Google do) and that load of iPhones they airlifted in came from another supplier in India.
Since 2017, Apple has worked with partners to assemble iPhones in India, starting with older models and gradually expanding to include the latest ones. The policy both addresses China risk and avoids import tariffs when selling in India, one of the world's fastest-growing smartphone markets
Globalisation innit 🙂
Apparently not. The latest suggestion is that it was all part of cunning plan so that Trump and his backers could fill their boots.
I am not sure if I am supposed to see Trump as a complete imbecile or some sort of genius.
Didn’t he actually mention it and he also did that post on truth social saying it would be a good day to buy shares.
Not sure how it works when the presidents insider trading or market manipulating, since the SEC sort of work for him.
Still I suppose he can sack them all via doge just to be on the safe side.
Now tarrifs are withdrawn for electonics.
Its almost as if there is no plan🤣
Didn’t he actually mention it and he also did that post on truth social saying it would be a good day to buy shares.
An hour or two before the main announcement. I think it would be hard to argue that would count as insider trading/market manipulation though since it was available to everyone. Insider would be him telling one or two people vs making a post we all had access to. Ethically unsound on the grounds it pushes people to use a platform he profits from though.
That said for the insider trading there does seem to be some evidence of a spike in activity an hour or so prior to that post. Plus people in the know could use that post as a cover for purchasing vs the ramblings of a senile man.
With regards to the conspiracy theories about it being mass market manipulation. I do think this is the standard trope of government planning stuff masterfully rather than just screwing up.
I would go with him running with tariffs, since he has been fixated on them for years, to put us into this mess before someone managed to explain to him it was all going pearshaped and he would need to back them off.
At that point I can see him and his fellow grifters seeing an opportunity to profit but more as a reaction to events vs deliberately triggering them. The "walter bloomberg" tweet from the day before had shown how the markets would respond so its not like they needed to carefully think through the scenarios.
Ironically it has taking two self-serving narcissists who claim to care about their countries to help destroy their respective countries's global reputations.
Extraordinary! There’s the old (alleged) Chinese proverb, “May you live in interesting times”; I’m not entirely convinced that these are the times being referred to, but if they are, I’d like my money back, if I may…
An hour or two before the main announcement. I think it would be hard to argue that would count as insider trading/market manipulation though since it was available to everyone.
I don’t think your interpretation of what is permitted is correct. Eg, if Musk posts “no better time to buy Tesla shares - that would definitely be against SEC rules, and I am sure the same is true of anyone involved in US foreign/monetary policy making the statement trump did - but the constitution means the president is exempt from the law!
I’ve signed various “Insider Letters” over the years which say, you are about to get information which would impact the share price, you must not buy/sell shares or recommend to anyone else to buy/sell shares - that would include me going on Twitter and saying “great time to buy XYZ Plc” or “I’m glad I don’t own any ABC shares” - they are public posts available to everyone BUT I know information that is not public just as Donald probably knew what he was going to saw a few hours later (that is alway debatable as I don’t think he always knows what we will say at the end of the sentence when he starts talking!). As I understand it, I don’t need to have any financial gain for myself or people I know to end up in very hot water.
It's the most public "market manipulation"/"insider trading" I've ever seen. I've been watching the markets nervously for a while as I'll need cash at some point this year. I've just checked the date on my bank statements, it was 20/03 that I cracked. I read about some previously announced tarifs going live, thought about his reciprocal tarifs idea and thought "the idiot's really going to do it". Two visits to banks and some online selling later I'd gone from 70% invested in the markets to under 15% and that in "protected funds". No regrets so far having sold within a couple of percent of highs on most stuff and it's staying in cash till needed whatever the markets do.
What is surprising is that the markets weren't taking him seriously earlier, the pattern of announcement followed by application was well established by mid March. Idea, numbers, apply for each tarif. It's not manipulation or insider when you inform all the world's press weeks if not months in advance of anything concrete happening. What did the market traders think he was going to do? Nothing?
It has since been a predictable shambles as the reality of his folly becomes apparent, things like the bond market response being a joy to watch. But I don't see him backing down completely. The 10% still stands, that alone is enough to seriously hamper some sectors on tight margins. The irony is that he's backing down on the sectors that have the highest margins and best able to absorb the tarifs.
Perhaps the biggest impact long term will be the change of mindset brought about. The EU has been pissed off with the tech oligarcs for years but pussy footed around with fairly minor legal action. I think countries the world over will be bolder in looking after their own interests now. Taboos have fallen, Trump has sacrified the sacred free trade cow.
https://www.pbs.org/newshour/economy/a-timeline-of-trumps-tariff-actions-so-far
The orange turd is looking more & more of a fool with stupid as F proclamation. One wonders how long it will be before the yanks realise what a moron he is - I suspect it maybe a while…
Now tarrifs are withdrawn for electonics.
The trouble is the big ticket stuff ends up stupidly expensive, like iPhones now €1199 and my shonkymathics worked out something a tad under $2000 (unless Apple cut their profit margins)a few dollars on a piece of cheap tat isn’t going to be quite as eye watering and less likely to be noticed but on the electronics people would be noticing that the Chinese weren’t in fact paying the tariff.
A survey conducted by market research specialist Ipsos in December 2024 shows that more than half of all polled U.S. adults don't know what a tariff is. Only 45 percent chose the correct answer, which is a form of tax imposed on imports from other countries paid by the importing companies and is at least in part passed on to the consumer. A narrative popularized by President Trump that suggests that the exporting country pays a tax to the importing country was the second most popular option, chosen by 17 percent of respondents.
Other possible answers included a trade agreement between countries that would enable one country to impose fees on a partner country exceeding specific trade limits and subsidies paid to domestic producers by consumers. 23 percent or almost a quarter of respondents admitted not knowing what the correct definition of a tariff is.
Bernie Sanders and Alexandria Ocasio-Cortez have been running a "Fighting Oligarchy" tour since February criticising both the Republican Administration and the Democrats response. They're getting larger crowds as the tour progresses with 36k in LA yesterday (Saturday)
https://www.newsweek.com/bernie-sanders-crowd-size-biggest-ever-los-angeles-rally-aoc-2059072
Harris got massive crowds , meanwhile the republican are busy rigging the system (you only have to look at the gender breakdown of their support to see why)
its hard to he optimistic about America
The British government uses that name change thing for pension claim suppression. Madame Edukator has never changed her name on her passport so has had no trouble with identification on gov.uk. However her colleague who has her married name on her passport has had to do everything by paper forms as the system won't match her passport to her records before marriage. The first paper application was rejected on a technicality which she only fought because she knew Madame who has an identical career history had successfully made an application. Still on going after over a year of effort though a phone operator recently acknowleged the rejection was unjustified.
The British government uses that name change thing for pension claim suppression
Easy to ascribe to malice what is actually just incompetence. More likely the computer said "No" and there aren't enough properly trained and empowered staff to deal with the fall out from the rejections.
its hard to he optimistic about America
I understand the handmaids are starting a revolution.
More likely the computer said "No" and there aren't enough properly trained and empowered staff to deal with the fall out from the rejections.
No, a human said "no" to a paper application when a computer would have said "yes", you're missing the point that only married women who use their married name have to make a paper application. Males or women with their maiden names can use the on-line system and there is no chance of human error leading to a rejection. So it's exactly the same problem that Trump has just created. Discrimination against women who use their married name due to increased administrative barriers.
More likely the computer said "No" and there aren't enough properly trained and empowered staff to deal with the fall out from the rejections.
No, a human said "no" to a paper application when a computer would have said "yes", you're missing the point that only married women who use their married name have to make a paper application. Males or women with their maiden names can use the on-line system and there is no chance of human error leading to a rejection. So it's exactly the same problem that Trump has just created. Discrimination against women who use their married name due to increased administrative barriers.
They'll be giving husbands 2 votes and the wife none, next, woudn't supprise me.
Ed, you’re right about UK system. But it’s not a problem for voting. Interesting that in France your maiden name carries through on all official documents for life, to avoid this confusion. Anyway… not the same as the USA where the change proposed makes it harder for millions of women to vote. And just women. If it’s a “mistake” it’s one born of sexism.
so trumps iPhone exemption were just temporary
https://www.ft.com/content/9038804f-cf69-4193-9332-8b5ea1f9af4b
there will be a new set of tariffs on n semiconductor containing items (also pharmaceuticals) coming in s month or so....
so companies will rush to stockpile goods now, and then when he doesn't bring it in theyll be left with oiads to f stick, its possible hes just trying to insulate consumers from inflation in the short term, but it wont work as itll all add costs and means more chaos for businesses.
China could be the thing that unsure trump because they are not blinking
AIUI Voter id will be required when voting in person, which must take the form of either a birth certificate or passport. The birth certificate must match your current name which is problematic for married women, and naturally the passport is not widely adopted by the poor. Passports cost $165, and require a birth certificate to support the application. Many cannot put their hands on their birth certificates.
It's blatant Voter suppression, but you know, flood the zone with shit, and all that. It's not really big news. 🙄
Also, the biggest holder of US issued bonds? China. And I did enjoy their statement when they raised their tarrifs to match the US imposed ones. 🤣
It's not just China though, Europe is quietly working on appropriate measures but will wait until things settle down before acting. No point in escalating now with a war going on, patience.
There was a report on China tat being diverted to Europe on French news tonight. That's more of a problem for Europe than tarifs on exports to the US. 22% of parcels in the French postal system are from Temu and another Chinese seller.
The main source of hope is the impact of a second Trump presidency on American's themselves. I spent an hour or so in the company of an American family recently. They occupied the other three seats around a table on Eurostar. Feeding off the T-shirts they were wearing I asked where they skied, having compared notes on our favourite X-C ski resorts and the impact of global warming they moved on to Trump. Only personal pain will convince enough MAGAs to turn against Trump and that will take time. I compared with Brexit, an act of self harm born of lies, prejudice and ignorance. They were not optimistic and like some of the remainers on here are considering jumping ship and emigrating, the limiting factor being their lack of language skills and kids in school. Lies, prejudice and ignorance versus education and honesty. Now what are Faridge and Reform scoring in the polls? Or the RN or the AfD... . There but for a few votes go we.
https://www.bbc.co.uk/news/articles/cde2z6jpzp8o
Quite remarkable......
In the context of the US Commerce Secretary Howard Lutnick just days ago announcing that part of the point of escalating tariffs on China was to bring back iPhone production to the US, this was a stunning about-turn.
And so much for the "special relationship" and the rewards of Sir Keir Starmer's sycophantic groveling....
Meanwhile an ally such as the UK, which according to US figures has a $12bn deficit - i.e. the US sells more to the UK than the other way round, has a 25% tariff on cars, its biggest goods exports, with number two, medicines, in line for similar charges.
It's not just China though, Europe is quietly working on appropriate measures but will wait until things settle down before acting. No point in escalating now with a war going on, patience.
Benevolnet, manevolent, or simpy the ramblings of a misguided old man on a power trip...
...the entire world is now quietly re-wiring supply chains due to the instability in the USA... this is really really bad, mostly for USA citizens but this volitility will hurt everyone to some extent.
Annual health check for the orange baboon today
The president weighs 224lb (101kg) and stands 6ft 2.5in tall, according to the records from Dr Barbabella.
101kg? Are we seriously meant to believe that? He's at least 115kg
uk mostly exports luxury cars to the US so the impact on the average consumer there will be less noticeable, but i really cant see how the American healthcare system will manage 25% on medicines
Annual health check for the orange baboon today
The president weighs 224lb (101kg) and stands 6ft 2.5in tall, according to the records from Dr Barbabella.
101kg? Are we seriously meant to believe that? He's at least 115kg
You aren't seriously suggesting trumps telling lies are you? 😉
uk mostly exports luxury cars to the US so the impact on the average consumer there will be less noticeable, but i really cant see how the American healthcare system will manage 25% on medicines
Will hurt our exports though... a 100k 'UK' car will now cost americans 120k, or is it 135k? I can't keep up.. but it will hurt UK car exports, and by extension, hurt UK workers, factories and supply chains.
A 100,000 car already cost the USA buyer 120,000 due to the 20% luxury tax.
uk mostly exports luxury cars to the US so the impact on the average consumer there will be less noticeable
Yeah like mattyfez I was thinking more about the effects on UK producers/workers than US consumers.
a 100k 'UK' car will now cost americans 120k, or is it 135k? I can't keep up.. but it will hurt UK car exports, and by extension, hurt UK workers, factories
the cheap ones start at 250k, a phantom at 450k, you can spend up to 2 million with extras!
whether the super rich will absorb a 25% bump in price, i dunno, rolls Royce shares have taken a kicking but rebounded, thats a lot about their aerospace business tho, rather than cars
A 100,000 car already cost the USA buyer 120,000 due to the 20% luxury tax.
Are you sure? I think it was scrapped over 20 years ago and it was only 10%
https://www.wsj.com/articles/SB1041807729976794664
No idea why the double post, I only hit the button once
Yeah like mattyfez I was thinking more about the effects on UK producers/workers than US consumers.
my point was that on pharma at least i don't see how that would be sustainable for Trump, like the Chinese electronics i can see him being forced into a u-turn
and china have stopped exporting rare earth magnets crucial to the defence industry and the manufacturer of EV engines
im guessing the USA have stockpiles but this will be another escalation , and i imagine Tesla might be getting worried
https://www.nytimes.com/2025/04/13/business/china-rare-earths-exports.html
just a few days ago this was considered a worrying but unlikely possibility
Is it being overly optimistic to hope that a few threads might be unravelling? Or fraying at the ends at the very least?
(Probably, yes, but any port in a storm, etc)
Yeah like mattyfez I was thinking more about the effects on UK producers/workers than US consumers.
my point was that on pharma at least i don't see how that would be sustainable for Trump, like the Chinese electronics i can see him being forced into a u-turn
It's not realisticaly sustainable... back to the UK car export thing... If a '100k UK' car costs US citizens '120k' already due to 'luxury tax', than an additional 10% tariff on top of that (I presume the tax will be stacked) would mean that 100k car now costs, what, 132k for an american citizen to buy it?
I can only dream, but if I was spending that much money on a car, I'd be looking at some Italian exotica, not a Morgan or whatever.
But Trump has slapped even bigger tariffs on the EU, so no more Lambos and Ferarris for the americans... they can choosea Corvette 😆
Although to be fair, the corvette ZR-1 is a tasty looking car
https://www.chevrolet.com/performance/corvette/zr1
I guess the question is what sort of stockpiles of neodymium magnets do Tesla have?
will musk have to move all his car manufacturing to China to het round this 😉
Although to be fair, the corvette ZR-1 is a tasty looking car...
https://www.chevrolet.com/performance/corvette/zr1
Yeah like mattyfez I was thinking more about the effects on UK producers/workers than US consumers.
my point was that on pharma at least i don't see how that would be sustainable for Trump, like the Chinese electronics i can see him being forced into a u-turn
Oh yes for sure. The point is that the "special relationship" and Starmer's delusionary belief that he can influence Trump through sycophantic gestures such as offering him an unprecedented second state visit doesn't come into play.
Trump will still slap massive tariffs on top UK exports to the United States, despite a trade deficit in the US's favour, and if he doesn't it will be purely because he has been forced into a U-turn by reality and for no other reason.
Starmer should cancel the state visit... That would be a an absolute baller move.
Probably not very diplomatic.. But in the face of Trump, what even is diplomacy?
Starmer should not have offered Trump a second state visit, in line with existing protocol, but the invitation cannot be reasonably withdrawn now imo.
Starmer should not have offered Trump a second state visit, in line with existing protocol, but the invitation cannot be reasonably withdrawn now imo.
It doesn't need to be withdrawn, it just needs to be delayed. King's health concerns etc etc...
It's the thing Trump wants most from us. Well, he's learning actions have all sorts of consequences.
Interview on CNN with two small business owners who have been left high-and-dry by the tariffs - a load of stock in China that they can't get to the US as they don't have the cash lying around to pay the tariffs.
I'd love to read the KGB dossier on Trump. He didn't even mention Russia when paying lip service to the strike on Ukraine
Interview on CNN with two small business owners who have been left high-and-dry by the tariffs - a load of stock in China that they can't get to the US as they don't have the cash lying around to pay the tariffs.
This is really biting those traditionally Republican small businesses.
More worryingly, an arson attack on a Jewish Democrat governor celebrating Passover, and a Nazi obsessed teen wanting to kill the President. There's a lot chaos bubbling below the surface and in the online cesspit. As more people suffer as a result of Trumps policies, extremes will feel more attractive.
BBC News - Man arrested after suspected arson attack at Pennsylvania governor's home
https://www.bbc.com/news/articles/cvgp6zeymevo
BBC News - Teen killed parents as part of Trump assassination plot, says FBI
https://www.bbc.com/news/articles/c62g8d47z86o
