How much the tariffs are going to disrupt the REST of the world economy, then you need to educate yourself:
US produced goods have had, on average a 36% tariff in other countries…that’s an AVERAGE. Some higher, some lower some countries higher, some lower……but the average item manufactured here is the US and imported into any other country in the world starts out at a 36% disadvantage. (that is nearly 4 parts in 10 if you were educated in liberal-run public schools)
Reversing that will go a long way to helping the US sell what few products we still manufacture or produce here in the US. Even grain is often tariffed when it is sold to to other countries (unless, of course, it given as a gift to some poor country that can’t feed itself…) But if it is sold internationally, it is subject to a tariff…often near 100%.
Agricultural products, wines, other foodstuffs….all tariffed. But we don’t have similar tariffs on other products imported into the US from those same countries.
The screaming and crying is because those countries now realize how screwed THEY are going to be…China and much of Asia, and much of western Europe as well. Even if it is just reciprocal tariffs rather than punitive or protective tariffs.
The US is one of the largest, if not THE largest, customer for most of the world. And they need us more than we need them. They lose in a trade war, and they know it. Combined, they cannot make up for the loss of the US market. And if there is a trade war, the only folks here in the US that lose long term are those that import items to sell or parts made overseas….Which will be a short term inconvenience until they find domestic sources. It won’t be painless, and some folks will be damaged, but the US, and the citizens of the US will come out ahead shortly.
At the end of it, the US will still be in a less than perfect position, but we were there already. (The imbalance of trade is another discussion for another day)…We will, for as long as Trump/MAGA reigns, be a whole lot LESS screwed (trade wise) than we have been for the past 40 Years or so. Not perfect, but much less bad.
The stock market has fallen father than it has in the past few days more than once…. several times in this century alone…and it always recovers even stronger a few weeks or months or later. Don’t panic, you only lose money if you sell the stocks at a lower price. If you don’t sell, then you didn’t lose (or gain) anything. Stand fast and you will come out better than you were last month. If you don’t need the money, just wait.
I will soon be buying whatever stock and equities I can with whatever cash I can scrape up. It’d almost be worth it to have a mortgage again to buy up even more. I can make much more than 6.5 % this year in the market…I am seriously contemplating taking out a HELOC for that purpose…..the bargains are starting to be big. I might even discount the Cessna 340 a bit just to sell it quicker…..
Stop listening to the message from the Media (and the DNC types).
Think for yourself.
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As of this posting, there are over 40 countries that (currently) have tariffs against US goods that have, oddly enough, contacted the US t “discuss” better trade agreements and reducing their tariffs against US made goods. They are capitulating because they need us as market more than we need them. Without the US market, in many cases, their industries will collapse and workers will be laid off. At best their production will be cut in half or more and their economies will suffer greatly.
So they are talking, desperately, to head off the damage that their industry and economies will suffer.
It ain’t gonna fix everything, but this will go a LONG way towards that. The US will still be in position of getting screwed, but we will at least get dinner, drinks and a concert first.
