Seldom Seen

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Sorry you hate democracy. The president has control of tariffs. The issue has been decided.

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No, it hasn't been decided. There's a bill that's just been introduced in congress about the tariffs.


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S. 1272

To provide for notification to, and review by, Congress with respect to the imposition of duties.

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It's very much a political matter and could very well end up deciding the mid-terms.

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So you admit your threads are shitty.

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No, they're informative.

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President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.

Since the US raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate. That drastic reduction in goods from one of the largest US trading partners hasn’t been felt by many Americans yet, but that’s about to change.

By the middle of May, thousands of companies — big and small — will be needing to replenish inventories. Giant retailers such as Walmart Inc. and Target Corp. told Trump in a meeting last week that shoppers are likely to see empty shelves and higher prices. Torsten Slok, Apollo Management’s chief economist, recently warned of looming “Covid-like” shortages and significant layoffs in industries spanning trucking, logistics and retail.
While Trump has shown signs in recent days that he’s willing to be flexible on the import taxes imposed on China and others, it may be too late to stop a supply shock from reverberating across the US economy that could stretch all the way to Christmas.

“The clock is absolutely ticking,” said Jim Gerson, president of The Gersons Companies, an 84-year-old supplier of holiday decorations and candles to major US retailers. The company, based in Olathe, Kansas, sources more than half its products from China and currently has about 250 containers waiting to be shipped.

“We have to get this worked out,” said Gerson, who’s part of the third generation from his family to run the company, which generates roughly $100 million in sales a year. “And hopefully very soon.”

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LINK

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The global backlash to President Trump’s tariffs is punishing U.S. agriculture, especially a decline in Chinese buying of U.S. farm products.

A leading agriculture exports group says “massive” losses are already
racking up at farms, with cancelled orders, pricing pressure as demand slumps and layoffs, as China stops buying products from pork to hay and straw, and lumber.

“No one can replace all the volume that China buys,” one farm operator reported.

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The clock is ticking on trade deals that the U.S. will need to strike with many nations, most notably China, to avoid what Trump’s Treasury Secretary has described as an “unsustainable” tariffs war. But in the U.S. farming sector, the damage has already been done and the economic crisis already begun.

U.S. agriculture exporters say the global backlash to President Trump’s tariffs is punishing them, especially a decline in Chinese buying of U.S. farm products, leading to cancelled export orders and layoffs. Peter Friedmann, executive director of the Agriculture Transportation Coalition, a leading export trade group for farmers, tells CNBC the number of canceled purchases of U.S. agriculture should not be described as approaching a crisis. “It is a full-blown crisis already,” he said.

Data released by the U.S. Department of Agriculture on Thursday revealed China made its biggest cancellation of pork orders since 2020, halting a shipment of 12,000 tons of pork.

AgTC says “massive” financial losses are already being shared by its members as a result of the trade war, based on reports it is receiving from member companies.

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That's unfortunate about the HS Championship game. Sounds like the lawyers probably got involved "If some kid gets hurt on a muddy field we could be sued"

Keep us posted on the result on Wednesday. It's really cool how NOLA has such a strong HS rugby scene, hopefully one day that can spread to the rest of the state.