Submitted 5 months ago by MicroWave@lemmy.world to economics@lemmy.world
https://apnews.com/article/trump-tariffs-coffee-beef-fruit-4fe084c2724ec6d92096efa263fdcf76
Donald Trump announced Friday that he was scrapping U.S. tariffs on beef, coffee, tropical fruits and a broad swath of other commodities — a dramatic move that comes amid mounting pressure on his administration to better combat high consumer prices.
I’m guessing he got his bribes.
Let’s see if the coffee shops lower prices again.
You mean in total admission of his abysmal failure to understand even the basics of market economies. Right?
This is a problem that you created. That’s like saying “dont worry guys, ill put the fire out” when you are still holding lighter fluid and matches.
-“Okay okay, I’ll put the bathtub plug back in”
Some things won’t just become undone because you stop doing something. It’s like stopping burning the fields.
Increase grocery supplier profits*
because so many people are buckling down and spending less at the grocery stores. Their support is more valuable than his tithe right now, as he’s polling historically low among almost every demographic on almost every issue. These “savings” (read: tax cuts, tariffs are taxes never forget it and the taxes were pushed exclusively by Trump and have never been popular even among the most hardcore MAGAs) will never be passed on to the consumer. Consumer prices aint going down, but Trump’s taking less of a cut of the profits for now to keep his crony friends from turning on him.
Like many have pointed out … the tariffs have raised prices for consumers.
By lowering tariffs again, the savings will go to the corporations because they’ll keep prices high and pocket the difference. People are already conditioned to the current prices. They might grumble for a while, but after a month, it will all be normalized again. Prices are high and they’re going to stay high.
It may have been the reason behind raising tariffs in the first place.
This is the same shit with eggs. People bitched and now they are use to the high prices.
I dunno at Costco the eggs i got last time were like $2.50 for two dozen.
I still don’t understand how tariffs on beef even matter. We grow so much beef in the US that it strikes me as stupid to buy from non-domestic sources. I live less than 10 miles from beef cattle in a field. Hell one of my coworkers’s family has a herd.
I don’t eat much beef but have seen prices rise along with everything else in the last 5 years but assumed it was just general gouging. Read an article last week that detailed how climate change (damaging crops and yields), increased feed cost and international competition have made many generational beef ranchers selling off stock in the last few years as they can’t afford to feed them.
Dude the ground beef you get at the store is often from like three different continents. We’re deep into late stage global capitalism. We aren’t farm to tabling shit in this country.
From what I could find from a couple of minutes of searching the US imports slightly more that 50% of it’s beef.
So if the price of half of all beef goes up, and not everyone is going to be able to have domestically produced beef, supply doesn’t meet demand. so the price will go up, especially if people don’t seek out substitutes. It would only go up so much until it gets to the point where the price of imported beef is competitive.
Also remember Trump put tariffs on everything. A rancher needs some parts for some equipment that broke down and it’s coming from another country? That’s going to cost more. Feed and medicine for the animals may cost more. I don’t raise cows so there’s probably a bunch of costs that have gone up that I can’t think of. Those costs result in it being more expensive to produce beef and that will also increase the price. In fact only reducing tariffs on food importers while still having them on everything else may screw over farmers as they may become unable to compete with farmers in other countries that don’t have to pay tariffs on equipment and supplies like US farmers do now.
Maybe domestic beef is primarily high grade and the bulk of the beef American households consume is cheap ground beef. If so, then we might export the good stuff for profit and import the shit for pennies.
That’s just a thought. I don’t follow the beef industry.
It’s ok. My coworker couldn’t make it make sense to me either. He also won’t sell me cow. I’ve asked. Every now and then I see half cows for sale, but the price is hardly better per lb than store bought and I would still have to break down the half myself which takes time I’m disinclined to spend without significant savings beforehand.
This is the case for most of US exports. There’s a unique situation where we have the infrastructure/capital to produce some actually good stuff, but at the same time American consumers have no standards. The good stuff gets sent abroad to discerning markets and we import cheap slop to sell here
kandoh@reddthat.com 5 months ago
Every day his power diminishes and ours grows.