Today was ...

[kenny]

Today was a tariffying day for America, and for the world.

 

[Calliecake]

It sure flipping was @kenny.

 

[MissGotRocks]

It was a hold your head in your hand day.

 

[Avondale]

Quote from a news article:

"[...]the administration later clarified in a post that it calculated each country's tariff rate using a formula based on dividing the U.S.'s trade deficit with a foreign country by that country's exports."

I'm no economist, but I still don't think that's how you calculate tariff rates. Like, shouldn't they be based on, you know, actual tariffs?

 

[ShinyPink]

@Avondale I saw a similar post. We get to pay more and suffer economically because some @*U(*Y#* doesn't understand how economics work.

People don't understand how this hits them. Husband's work (multi-national, US-based) is screwed. Tariffs aren't based on parts supplied, but cost of completed product. They have contracts with prices set in stone, so his company has to eat he tariff - import and export costs.

Daughter also let me know her hospital can't get certain medical supplies since the supply chain has been disrupted due to tariffs and the battle over trade.

 

[telephone89]

There's a few places with new tariffs that don't even have humans Islands populated entirely by penguins that will now have to pay up!

 

[Calliecake]

This whole thing is sad. None of this needed to happen. It’s going to end up impacting everyone’s life in some way.

I can hardly wait to see what the market does today.

 

[Matata]

I’m on my way home from Pittsburgh. DH texted and said to buy whatever I want now before things get worse so now I have something fun to do during the Denver layover.

 

[jeaniefish]

I heard on NPR last night that the average American household can expect to shell out $3800 more this year for everyday expenses , due to tariffs.
But that’s okay. We will get it back in reduced taxes! When that happens will also be when pigs actually fly and one size really does fit all.

 

[Calliecake]

It was a hold your head in your hand day.

So is today.

 

[Calliecake]

I’m on my way home from Pittsburgh. DH texted and said to buy whatever I want now before things get worse so now I have something fun to do during the Denver layover.

Have fun @Matata.

 

[Rebel Rebel]

I went on a mild spending spree the past two months, but now it's over. I lost a lot of money in today's stock market with typically safe assets. No more spending except for necessities. I feel sad, I love to shop.

 

[ItsMainelyYou]

Today was the realization of the unveiling of the largest tax hike in American history.

 

[Bron357]

Ah yes, implementing the collection of tariffs will be fun for all.
I’m presuming there’s no “exempt threshold” so the $30 item purchased from India will now be circa $41 BUT someone has to process the tariff and payment paperwork and I can assure no one will be doing that for free. Here is Aust Fed ex charges $75 so I guess that means your $30 item now costs you $116. Yikes.

 

[Lookinagain]

I heard on NPR last night that the average American household can expect to shell out $3800 more this year for everyday expenses , due to tariffs.
But that’s okay. We will get it back in reduced taxes! When that happens will also be when pigs actually fly and one size really does fit all.

If that average American household has their savings and/or 401k/IRA in the stock market, they're going to lose a lot more than $3800 if they have even a fairly small nest egg.