Commerce Secretary Howard Lutnick said Sunday that the administration’s decision Friday night to exempt a range of electronic devices from tariffs implemented earlier this month was only a temporary reprieve, with the secretary announcing that those items would be subject to “semiconductor tariffs” that will likely come in “a month or two.”
“All those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to make sure that those products get reshored. We need to have semiconductors, we need to have chips, and we need to have flat panels – we need to have these things made in America. We can’t be reliant on Southeast Asia for all of the things that operate for us,” Lutnick told “This Week” co-anchor Jonathan Karl.
This makes sense. Give the companies like Apple and nvidia time to set up some local factories. How long could it take to acquire land, set up a chip foundry, and train up staff? 90 days?
that’s a matter of years, at best. Lutnick is just lying to appease the MAGA base.
I think you flll for sarcasm.
Just like the tariffs would not be paused. Cannot trust a thing that comes out of their mouths. Even if they think it is the truth and the current plan, the plan can change on the whim of agent orange.
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You’re correct, he just announced that there is no pause on electronic device tariffs.
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This guy doesn’t even know what semiconductors are.
Nutlick is not a smart man
Everyone learned about those in grammar, don’t insult the man’s intelligence.
Probably thinks conductor like for a symphony driving a semi truck
It’s frankly embarrassing that I don’t see more people pointing out that his name very easily becomes NutLick.
Lol. Now this is the content I’m here for.
I mean probably? No one knows what this fat, dementia and cocaine addled geriatric will do after all. Might be a month, might be next Thursday.
I still don’t get the point of tariffs. Here’s a Reason TV interview w/ Danial Hannan, a Conservative politician in the UK (bias: Reason TV is a “libertarian” publication), and he says there are three arguments the Trump administration is making in favor of tariffs:
- They bring in revenue and can reduce income tax
- Bringing jobs back to America
- Negotiating tactic
The interviewee argues all three are wrong, and argues that they’re incompatible:
- if they’re bringing in revenue, then they’re not bringing in jobs because the imports are still coming in
- if they’re bring back jobs, they’re not bringing in much revenue, because local products don’t pay the tariffs
- if they’re a negotiating tool they’re doing neither of the other two
Here are some other fun arguments:
Show me a country that wholly relies on manufacturing and I will show you a poor, developing country. You move from agriculture, then to manufacturing, then to services. And with each of those moves, you get richer, you work shorter hours, and you live better.
So why would we want to move manufacturing here? It’s just going to shift jobs away from services to manufacturing, which would be a net reduction in total value.
The better solution is to train the workforce to develop services, which are more lucrative. There’s an argument that we need some amount of local production for national security reasons (i.e. if supply lines get disrupted, we need some minimum level of production capacity in wartime), but we don’t need to make everything.
I caught that the instant he said it. So they are planning another round of Market Manipulation in a month or two, got it.
We’ve already had 3 rounds, in less than 90 days. It seemed like his 90 day pause on this last round was a bit longer because he wanted to let it cool down, but I knew he wouldn’t be able to resist the lure of dirty money at the expense of the poors.
I’m happy for the heads up. Unfortunately, I dont have the kind of money required to take full advantage of this, but at least Ill know to hang on.
These power tripping motherfuckers get off on purposefully stepping on rakes.
I wish it was that. No, this is actual evil, not incompetence. Trump has turned the US economy into the largest pump and dump scheme ever. Worse, he’s bragging about how his friends made billions. I can’t even believe this is happening. I’m in utter shock. I knew Trump would be bad, but straight up flaunting corruption like it’s a joke and even bringing the SCOTUS on board with this. I’m just gob smacked.
I get it, I really do. It is malevolent, but I also think they have the stupidity to think that it will work. It won’t. They are dumb, power-vaccuming, racketeering, embezzling white supremacists who think they really are rebuilding manufacturing in the US.
Your right. It could be both. I mean, my wife said to me the other day that she heard Trump was doing the tariffs to lower the bond interest rates. I said while in some types of recessions that’s true, that wouldn’t work in this case and you’d have to be an idiot to think it would. Sure enough the next day Trump puts a stay on tariffs to most of the world because the bond market got rocked. All I could think of is omg, are they really that fucking stupid?
Tbf the bond market getting rocked was in large part due to Canada, Europe, and Japan doing coordinated but relatively minor sales of the bonds they hold as part of the tariff response. Carney probably understands global finances more than any other world leader for getting that done the way he did.
No, this is actual evil, not incompetence.
It’s both. You may have heard of the dictatorship of the proletariat. This is the dictatorship of the subnormal bullies.
I hate to say it, but Musk was right; this guy is a moron.
Trump and Lutnick will be turning the American economy into a Lootbox/Skinner Box economy… let the FOMO purchasing flow through you, buy buy buy before the tariffs go on again!
Howard, you ignorant slut.
They definitely have to stop announcing tariffs effective in next few hours. Maybe a 2 year effective date announcement allows “progress” in US reindustrialization with CHIPS act type subsidies.
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Usa continues to sail away from all the rest of the world.
Is this a Gov’t version of surge pricing? Fluctuate as they see fit to manipulate the markets. They get rich, we get screwed.
