I cannot believe this is happening. Truth be told, this is worth losing money for. Granted, I did not see this coming and as a result — STOCKS WILL GET HAMMERED. But boy oh boy is this fun.
On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,..
— Donald J. Trump (@realDonaldTrump) May 30, 2019
Dow futures are OFF by 200, Nasdaq 69. WTI is down 1.45% and the 10 yr bond is at a staggering 2.18%.
A statement from the White House.
To address the emergency at the Southern Border, I am invoking the authorities granted to me by the International Emergency Economic Powers Act. Accordingly, starting on June 10, 2019, the United States will impose a 5 percent Tariff on all goods imported from Mexico. If the illegal migration crisis is alleviated through effective actions taken by Mexico, to be determined in our sole discretion and judgment, the Tariffs will be removed. If the crisis persists, however, the Tariffs will be raised to 10 percent on July 1, 2019. Similarly, if Mexico still has not taken action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the United States, Tariffs will be increased to 15 percent on August 1, 2019, to 20 percent on September 1, 2019, and to 25 percent on October 1, 2019. Tariffs will permanently remain at the 25 percent level unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory. Workers who come to our country through the legal admissions process, including those working on farms, ranches, and in other businesses, will be allowed easy passage.
Boss.
A 5% tariff on $350 billion in total Mexican imports = $17.5 billion.
Think that’ll get Mexico’s attention? You know it will.
On Trumps watch, the invasion of America is ending.
And it appears that yes, Mexico is paying for the wall.
— Kip Herriage (@KHerriage) May 31, 2019
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Thank you to the best president ever. Now crash the fucking market. And according to fly, markets don’t bottom on Friday’s! Enjoy!
Not sure about ever but definitely best President since Davis.
Best Prez since Andrew Jackson ! Tariffs just start out at 5 percent and then increase to 25 percent.
25 percent tariffs ! That’s pee in the gumbo !
You can’t get short enough.
Jackson was great but he was less pro-slavery than Davis. Also, he dissed his Vice-President John C. Calhoun over slavery.
Davis made Jackson look like a moderate Democrat.
Unexpected action. Covered my shorts a bit too soon there.
Nice little cherry on top for the sell in May, go away, rhyme. So gangster.
A Republican taxing the hell out of the American people? Never thought I see that…
First we crash then we crash some more.
You get a crash! And you get a crash!
Thankfully, I’ve been on the ark for a few years. I plan to stay on for a while.
Kip Herriage’s comment in parenthesis:
“The design is to impact the importers pricing power, forcing their prices to rise and giving the importing country purchasing flexibility. It’s a stick.We can argue 24/7 about who ultimately pays for it but if you understand negotiation you know what Trump is doing.”
My view is Herriage is not accounting for all market participants. Once exporters, importers and US producers react and adjust, what is the end result? Will US consumer product prices move higher or lower? Will USA wages or dollar purchasing power track changes in US consumer product prices, resulting in no impact on US consumers?
What am I missing?
How about the cost of illegal immigrants on healthcare, education, law enforcement etc? I never expected the wall to be built – it’s a waste of money and a piss poor attempt at a solution.
The cost is immaterial so as to it being a waste of money, it’s not enough to be concerned about. Now that that’s out of the way, are you saying that a wall won’t keep the invaders out? I do think removing the free shit given to them would do a lot to make coming here less attractive, a wall would certainly deter people from even attempting to get past it.
“Invaders”?
Diversity in language, culture, attitude towards big government and the welfare state is our strength! We need more diversity in order to compete with the diversity-less Han who are left to rely on mere hard work, intelligence and unity of purpose.
Start arresting the fuckers that hire illegals and that will curtail things. But we won’t do that for some reason. Wonder why?
Oh but “we” were so sure at 2:30 of a bountiful-future ahead that moderate surging in the final 90 minutes was necessary. NOPE SOME PREPROGRAMMED MACHINES bogarting the close.
OTHER actively programmed machines may alter the scenario by open.
That, STRETCH, from the PERCH, is under more, and MORE, AND M O R E s t r a i n
I hope you beta faggots have to spend $50 dollars for your avocado toast
Stick it to the libs. Forever.
While insecure (a)lphas will have to pay $10k more for their 4x4s to get through
6″ of snow
Pelosi was the only DUDE who has been holding off the impeachment of the orange gorilla. With Mueller’s appearance yesterday, it’s getting harder for Pelosi to resist the pressure from the smart people.
Tariffs on Mexico is just a diversion from his I-word!
What happens if the gorilla is forced to produce his tax returns? Bomb Iran?
You sound like an incoherent idiot.
Am I right?
No, you’re not, but good instincts to ask.
Given the Dems complete resistance to adopting a reasonable immigration policy, this is a brilliant move and it will work.
I hope most posts on this page are sarcastic otherwise this once great site has been completely overrun with the dumbass.
People be gettin’ POLITICAL up in here. So here we go:
1) Anyone who thinks Mexican tariffs are part of a coherent trade strategy and NOT a gut-reaction to Mueller has not been paying attention.
2) Once again, Conservatives are clueless and only see one side of the Supply-Demand equation. Interest rates: near-record lows, corporate cash: record highs, employment very low, solution: give more money to the investor cash (Supply), forget about the conusmer class that makse up 70% of our economy (demand). Now with immigration, do we want to penalize the companies that HIRE illegal immigrants (demand) or the upper-middle class that hires legal and illegal immigrants at below-market wages (lawn care, nannies)? No, let’s tax consumers. Po Pimp is right.
3) Conservatives know that things have to be paid for. They are fine taxing people, as long as they are Consumers. They’ve been taxing consumers through targeted inflation for decades.