Muck like the farmers who voted to get screwed by brexit, it would seem the biggest losers from Liquidation Day will be the US Mid West that voted en masse for Trumpski.
Tariff announcement will be after the markets close in the USA.
Brace, Brace
It does look like our govt are doing their very best on these.
Allegedly an across the board 15% tariff.
The interesting question is whether it includes services or not.
Reminder: you can’t charge customs duty (aka tariffs) on services because they are not goods that need to clear customs.
They can do various other things on services, in the field of corporate tax. As indeed they already have. The BEAT and FDII regimes are essentially protectionist US measures on services.
You can charge sales tax or VAT on them, and Trump seems to believe VAT is the same as a tariff...
Leon said he did, and spent some time discussing in his usual manner how luvverly it was and how it was such a pity that plebs couldn't do that. If you ask him he'll tell you again, and I'm sure we'll all be glad of it.
I’ve been inside a Concorde, but only when it was parked up and not going anywhere. It was seriously retro and extremely basic inside; its only selling point would have been the shorter time you’d be inside there.
This is your regular reminder that almost no fentanyl is smuggled from Canada into the US.
Of course not. If it were smuggled, how would Trump apply a tariff to fentanyl sales?
Is it more worrying that he doesn't understand tariffs, or that he doesn't understand drug smuggling?
He’s read about President McKinley and doesn’t have even Leon’s meagre IQ to be able to understand how the massive development of the global economy, since the late 19th century, means that what McKinley did back then cannot simply be dropped into the 21st century and be expected to turn out well.
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Oh dear.
How sad.
Never mind.
NEW THREAD
DOGE is trying to gift itself a $500 million building.
Why do you ask?