The executive branch should not have carte blanche powers over trade. This is sheer lunacy. GM missed earnings this morning, based off a sharp increase in raw commodities and fucked up FX crosses in Brazil — but the real carnage in the sector today is due to a rumor that Trump is set to slap foreign car imports with a 25% tariff.
For the record, this will NOT induce me to buy shitty American cars. I am grateful for the Germans and the Japanese, for their ability to create great cars. Both Ford and GM can eat a dick.
As a result, the auto sector is in ruins today. Take a look at some of this pin action.
Trucks:
WNC -3.2%
DSKE -6%
USX -4%
YRCW -3%
Auto Parts:
DAN -10.5%
AXL -6.2%
CVGI -4.6%
ADNT -4.5%
Recreational Vehicles:
PII -13%
LCII -6%
WGO -5%
HOG -4%
Auto Dealerships:
LAD -12%
RUSHA -5.5%
AN -5%
GPI -4.5%
Auto Manufacturers:
FCAU -14%
GM -7%
F -4%
TM -1.5%
Separately, the much maligned TSLA is higher by 1% for the session.
There is a disruption in the matrix.
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Wharton educated economic mastermind. The auto industry is extremely aligned with free trade and any one component can cross several borders several times before returning to the US with neither domestic nor import pedigree…the man is playing with the fire that is going to have him out.
Lol, TSLA.
The Orange Whoremonger-In-Chief is an idiot – which is why he never has made money in business, and why he is a stupid negotiator.
Not happy with his lot in life, the orange fella feels others can be assigned penalties. Trade that was wanted before is now wrong somehow. Like any empire the USA has many places that were supported after WW2, weary of that just means gradual adjustments over 10 years maybe. And not “we have been abused by trade” statements which nobody the fuck understands.
Perhaps we can figure out a way to subsidize them as well, while yelling at others for doing the same and cutting back on social services for the poor.
Smell that inflation.
BTFDFB
Yuge buying opp here after today’s EU Tariff news.
Libtards here would not know a win if it but them in the vulva.
..or Volvo.