patrick.net

This means nothing, they can still undercut us even at 55% and nothing about all the IP they steal. They are playing long game.

Canada dumps their plans for a Digital Services Tax hours after Trump threatens tariff response.

So much for ‘TACO.’ The New York Times ran a story this morning headlined, White House to Start Notifying Countries About Tariffs, Trump Says. The 90 day pause is up. Countries that haven’t made deals yet will find out today what the next phase looks like.

President Trump said early this morning that he is set to resume the tariffs that he initially imposed in April on dozens of countries, before he’d paused them for three months to allow time to negotiate individual deals. The 90 day hiatus runs out this Wednesday.

“So we’re going to start sending letters out to various countries starting tomorrow,” Trump said yesterday, right after the OBBBA passed. “They’ll range from maybe 60 or 70 percent tariffs to 10 and 20 percent tariffs.”

Some countries, like China, Britain, and Vietnam, have already made deals. “Talks with other world leaders,” the Times reported, “have so far yielded little, despite efforts from Japan, Malaysia, India and the European Union.”

Trump said tariffs would generate revenue. He said the U.S. could weaponize its trade imbalance. He said deficits weren’t permanent. He said we could balance the budget despite dire predictions about the budget-busting OBBBA. But the arrogant experts laughed and laughed, the journalists skeptically scoffed, Democrats sneered and scolded, invoking inflation apocalypse, but now —unexpectedly!— the Treasury’s running a surplus. ...

Haha, the New York Times couldn’t bring itself to report the news at all. Instead, it warned that the markets are getting dangerously over-optimistic. We need more pessimism, they say...

Instead of reporting on Trump’s historic, tariff-fueled budget surplus, Eeyore and the New York Times are warning darkly about too much winning. Not collapse— prosperity panic. The new concern is that investors are responding too positively to Trump’s economic wins. That the real problem is: optimism. “This dynamic,” the Times gloomily reported, “is still emblematic of a market that is starting to get carried away with itself.”

“Don’t get too excited,” the Times sniggered.

For years, the expert class smirked —loudly and repeatedly— at the very idea that tariffs could possibly generate any meaningful revenue, let alone contribute to a budget surplus. Their line was consistent: tariffs are taxes on consumers, not tools of statecraft. They claimed tariffs would simply be passed along to U.S. buyers, hurt American manufacturers, and net no real fiscal benefit.

Larry Summers, Paul Krugman, the D.C. think tank crowd, and even a handful of Republican budget hawks, all lined up to dismiss the idea as “economically illiterate,” “19th-century isolationist thinking,” or just “Trumpian delusion.” ...

They wouldn’t listen. They didn’t believe. And now they’re afraid it’s working too well. Oh, corporate media, what would we do for entertainment without you? ...

https://x.com/loganclarkhall/status/1943857444326654220




... Tucker linked tariffs to ‘surprising’ budget surpluses, ‘unexpected’ job gains, and falling prices that defy gloomy tariff predictions. "Japanese automakers announced this week that they are slashing auto prices for imports coming into the United States,” Tucker explained, “because of the tariffs and the money that the tariffs brought into the United States."

Listen to the whole thing. You’ll love it.

and falling prices

Tariffs that the exporters don't eat actually cause demand destruction, which is disinflationary.

If tariffs work then stocks have to go down, no? Less profit if companies eat tariffs

Only for companies which produce in China and similar places.

Stocks of companies which produce in the US should do fine, or even go up as a result of less competition.

Bd6r says

If tariffs work then stocks have to go down, no? Less profit if companies eat tariffs

Intuitively - In the aggregate yes, but individual results will vary greatly. Hard to see how the QQQ's/ mag 7 could be effected by tarriff's in any meaningful way. However, my dividend players (SCHD) are probably gonna lag - just like they've done for the last 20 years.

Also note the same argument vis a vi tariffs was said for inflation - but that hasn't happened yet either.

Still, average investors' choices are either stocks or bonds (I refuse to call gold or crypto investing) and bonds suck.

But...BUT...we wuz told ONLY CONSUMERS PAY TARIFFS!



https://wolfstreet.com/2025/07/22/gm-ate-1-1-billion-in-tariffs-in-q2-will-likely-eat-more-in-q3-shifts-production-to-the-us-to-cut-costs-and-has-cash-left-over-to-waste-on-share-buybacks/

Well fucketty fuck fuck FUCK! No shit, Sherlock! The globalists pricks both on and off PatNet arguing with me that this wouldn't be the case are now proven certified morons!

Whaddya fucking know?

Sorry not a fan of silicone

Sorry not a fan of silicone

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO. The Open Market Japan may be as big a profit factor as the Tariffs themselves, but was only gotten because of the Tariff Power. They also agreed to buy BILLIONS OF DOLLARS WORTH OF MILITARY AND OTHER EQUIPMENT, and give us 90% of 550 BILLION DOLLARS - AND MORE!!! MAGA!!!
https://truthsocial.com/realDonaldTrump/114902743574618008

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks,

PanicanDemoralizer says

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks,

Opening how? There was no tariff on US cars in Japan.

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO.

RWSGFY says

PanicanDemoralizer says

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks,

Opening how? There was no tariff on US cars in Japan.

There were tariffs and NTTBs on many products, especially Agra.

Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO. The Open Market Japan may be as big a profit factor as the Tariffs themselves, but was only gotten because of the Tariff Power. They also agreed to buy BILLIONS OF DOLLARS WORTH OF MILITARY AND OTHER EQUIPMENT, and give us 90% of 550 BILLION DOLLARS - AND MORE!!! MAGA!!!
https://truthsocial.com/realDonaldTrump/114902743574618008

There was no tariff on US cars in Japan.

Hopefully, the same thing won't happen to Japan as it did to Mexico after NAFTA. Campesinos who had worked ancestral fields for centuries to raise unique corn varieties were bankrupted, and a vast swath of the genetic diversity of corn (which was first cultivated by the ancestors of the Mayas) was lost.

Good, artisanal corn, grown for flavor and nutrition, is infinitely superior to the agro-industrial shite that we get in grocery stores. Masa, made with that corn and lye to release nutrients, sustained Mesoamerican civilizations for thousands of years (along with the other two sisters - beans and squash).

RWSGFY says

There was no tariff on US cars in Japan.

No need. American cars would have to be right hand drive to sell in Japan. Not sure the tooling required to manufacture right hand drive is worth it for that market.