this post was submitted on 09 Apr 2025
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politics

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Summary

Donald Trump abruptly reversed his tariff policy Wednesday, announcing a return to a 10% baseline tariff on most countries and a steep 125% rate on China.

His administration appeared blindsided, with Treasury Secretary Scott Bessent unable to explain the move and press secretary Karoline Leavitt resorting to combative rhetoric.

The shift likely responds to mounting criticism from conservative allies and market instability marked by a debt sell-off.

Despite confusion and lack of clarity, officials tried to play up Trump’s unpredictability as strategic leverage rather than a sign of disarray.

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[–] futatorius@lemm.ee 21 points 6 days ago (1 children)

If he does a bigger rug-pull, his hair will come off.

[–] bitjunkie@lemmy.world 6 points 6 days ago* (last edited 6 days ago)

Calling that shit "hair" is generous of you

[–] barneypiccolo@lemm.ee 16 points 6 days ago

Make no mistake, he wasnt making this up as he went along, he knew exactly what he was doing the entire time. The basic outline was in place - announce tariffs, make them really big, get everybody crazy, crash the market, buy options on the decrease, buy stocks at the bottom, and ride them up on the delirious news that the tariffs have been suspended.

He may have improvised the real-time details like a jazz player, but the basic chord progression was always chugging along in the background.

This is his 3rd round of this, with each increasingly larger. This one threatened to boil over, so he kicked it down the road 90 days, but he is pathologically incapable of resisting his greed, so he probably won't wait that long.

[–] IEatDaGoat@lemm.ee 17 points 6 days ago (2 children)

I'm actually extremely happy that he changed from 104 to 125. Ending on a 4 is such a big no no. We gotta end our tariff values on 0s or 5s so this change has been tremendous. The greatest tariff ever made... Believe me.

[–] Catma@lemmy.world 4 points 6 days ago* (last edited 6 days ago)

At least it still ends in a 5?

[–] djsoren19@lemmy.blahaj.zone 1 points 6 days ago

Look I don't want the give the mad king too much praise, but this unironically. 104 was causing me to fling my dick into orbit, I'm at least happy they picked a nice round number.

[–] Ledericas@lemm.ee 17 points 6 days ago

hes getting his advice from his billionaire donors, and putin, instead of his own administration.

[–] Bahnd@lemmy.world 164 points 1 week ago (3 children)

Calling it now, insider trading (If that wasnt obvious already, look at the market 30 min. before the announcment)

[–] Darkassassin07@lemmy.ca 134 points 1 week ago* (last edited 1 week ago) (9 children)

It couldn't be any more blatant. Trump himself blasted out the insider trading info 3hrs before announcing the tariff reversal:

3hr later:

[–] CileTheSane@lemmy.ca 5 points 6 days ago (1 children)

These Countries have not retaliated in any way

They very much have. China has just become a convenient "out group" for Trump to demonize.

[–] barneypiccolo@lemm.ee 4 points 6 days ago (1 children)

The response will take a long time to come into focus, but make no mistake, this incident will do long-term damage to America's standing in the world. No other country trusts us about anything any more.

Many in our country are stupid enough to delude themselves about HitlerPig, but foreign governments aren't buying it one bit. They have intelligence agencies, too, and they know that he is not only an unrepentant and even enthusiastic traitor to his own country, he is a traitor to the entire Democratic Free World.

The worse he gets, the less the rest of the world will want to work with our government in any way. Eventually, we are likely to get hit with crippling international sanctions.

But he'll be using all of it to enrich himself and his friends, so he won't care at all.

[–] CileTheSane@lemmy.ca 2 points 6 days ago

Of course. He didn't even say he's cancelling the tariffs, this is a "pause", so other countries are still going to continue with their plans to make alternative trade agreements outside of the US.

[–] captainlezbian@lemmy.world 1 points 6 days ago

"The economy, it's me"

[–] jonne@infosec.pub 63 points 1 week ago (1 children)

Good thing the Supreme Court decided that it's an official act which is totally cool and legal.

[–] WhatAmLemmy@lemmy.world 50 points 1 week ago* (last edited 1 week ago) (1 children)

100%. It's been obvious from the start. This is probably the top secret part of project 2025 that is alluded to exist, but hasn't been documented anywhere.

4 years of these pump and dumps will kill off most small businesses, while enabling the nazi party and preferred oligarchs (including Putin) to consolidate and own the lions share of the market; stealing trillions from global investors and retirement funds, and attaining voting rights to control most corporations. DOGE's purpose was to eliminate and disrupt every institutions ability to document and enforce these crimes.

[–] newfie@lemmy.ml 1 points 6 days ago

Agreed that it's insider trading.

But how will this contribute to monopolization of the corporate sector and harm small/medium businesses? Why would all of this increase their corporate control of other large corporations?

I'm not saying that isn't their goal, because it clearly is. But I don't see how pump and dumps necessarily help them achieve that. Especially now that everyone with a brain knows this is what they're going to keep doing

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[–] courageousstep@lemm.ee 14 points 1 week ago (2 children)

Someone else in my life mentioned this! I’ll need to take a look.

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[–] SnotFlickerman@lemmy.blahaj.zone 114 points 1 week ago* (last edited 1 week ago) (1 children)

Despite confusion and lack of clarity, officials tried to play up Trump’s unpredictability as strategic leverage rather than a sign of disarray.

That's literally all Trump's teams ever do and have ever done.

[–] Sanctus@lemmy.world 58 points 1 week ago (1 children)

Its a sign for all possible investors to flee the US. You'll never get your money back when its eaten on the whims of an octagarian pants-shitter.

[–] BrianTheeBiscuiteer@lemmy.world 38 points 1 week ago (1 children)

I just heard NPR, a more consistent and reliable source, state that the US would be one of the worst off GDP wise if the tariffs were to stick. Volatility is the goal right now. They're pumping and dumping and also trying to distract from all the civil and human rights violations.

[–] Gigasser@lemmy.world 24 points 1 week ago (1 children)

A bit of speculation on my part, but I've been hearing it was actually the Japanese selling off US bonds that eventually made the Trump admin panic and stop the tariffs. I guess the power of God and Anime saved us from this bullshit for the most part. Perhaps this was one of the things discussed between China, Japan, and Korea?

[–] orclev@lemmy.world 24 points 1 week ago

Nothings been saved yet, this is just a pause. There's pretty good evidence (although circumstantial) that this was just for a last minute pump and dump, and that once they've finished extracting more money from the market he'll resume tanking it.

[–] BassTurd@lemmy.world 75 points 1 week ago (2 children)

Ladies, gentlemen, and others, this is what we call a "pump and dump". Anyone that understands the markets at even a high level could see this coming from a mile away. A bunch of rich people just made a fuck load of money today.

[–] Brkdncr@lemmy.world 24 points 6 days ago (1 children)

Reverse pump and dump is a dip and rip.

[–] wabafee@lemmy.world 7 points 6 days ago (1 children)
[–] bitjunkie@lemmy.world 3 points 6 days ago (1 children)

Nah that's just what I do when your mom wants to have pillow talk

[–] Jhex@lemmy.world 6 points 6 days ago

I believe this... however, in true Trump fashion, he is going about the stupidest possible way.

Maybe I am underestimating global greed but trump has made clear the USA is 100000% unreliable; what is the longer term outlook now for defense contractors internationally? Do they think they will continue to sell critical weapons, infrastructure, tech, pretty much anything with strategic value in the international market?

[–] tonytins@pawb.social 49 points 1 week ago (6 children)

Really, really shows how weak Trump is.

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[–] Archangel1313@lemm.ee 45 points 1 week ago

They aren't really "struggling to explain it", so much as "struggling to explain it, in a way that doesn't imply market manipulation and insider trading". Because that IS the only rational explanation for what he's doing.

[–] Zippygutterslug@lemmy.world 25 points 1 week ago (1 children)
[–] imrighthere@lemmy.ca 15 points 1 week ago (1 children)

It's syphilis, same reason he paints himself orange, hides the symptoms.

I don't mind spreading the idea that he has syphilitic demantia just to fuck with him, and because it's funny historically, but just in case you didn't know you should be aware that it's treatable with antibiotics and that's not actually why.

[–] BigMacHole@lemm.ee 19 points 1 week ago (1 children)

I'm a Free Thinking Republican who just yesterday was Touting how GREAT these Tariffs were for our Economy and how GREAT a Stock Market Crash was for our Economy and I just want to say HAHA SUCK IT LIBARDS THIS was the Plan the Entire TIME! LOOK at that Stock Market SOAR Today thanks to this 5D Chess played by Trump! Even though Yesterday I was saying the Stock Market should be Crashing and Tariffs were GREAT! I THINK for Myself!

[–] supersquirrel@sopuli.xyz 3 points 6 days ago

We all need to mercilessly make fun of these people, shame and laugh at them for this.

[–] Nay@feddit.nl 13 points 1 week ago (2 children)

It won't be long before they're saying "Just trust that he knows what he's doing. He works in mysterious ways!"

[–] futatorius@lemm.ee 2 points 6 days ago

"Der Trumpenführer has a master plan!"

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