Submitted 1 day ago by MicroWave@lemmy.world to economics@lemmy.world
https://www.cbsnews.com/news/tariff-pharmaceutical-drugs-kitchen-cabinets-furniture-heavy-trucks/
Trump announced Thursday that the U.S. would impose a new round of tariffs, including a 100% tariff on pharmaceutical drugs, a 30% tariff on upholstered furniture, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tariff on heavy trucks.
In social media posts to Truth Social, Mr. Trump said the new tariffs would take effect Oct. 1.
You can tell they’re bullshit made up political numbers. If there was a 68%, a 31%, you could convince me an expert may have at some point been involved. But exactly 100%? Someone pulled these totally out of their ass.
But, none of this is going to lead to higher prices. Apparently. /s
I’m a foreign drug company, I want to avoid tariffs, I walk into Trumps’s office with a graphic showing a $ 50 billion investment, I buy $1 million in Trump meme coins from Eric. No Tariffs and the only cost is the bribe and the $50 to print the poster at Kinkos.
The point is, easy to delay planning for a factory 3 years. Which most of these folks are doing.
Designing and approving a new pharmaceutical factory takes 3 years.
I’ll give it a week.
Gone by Monday lunchtime. Once the shares have been bought and sold.
It’s time to feed their base some MAGA slop to make them feel like they’re winning.
Americas investment safe, stable market, run by their stable genious. Smert!
finitebanjo@piefed.world 1 day ago
TBH the cost of importing a truck with 30% added on top is still cheaper than having it made in the USA with 50% tariff on Aluminum and Steel.