Tariffs make it harder to justify US investments, automakers and suppliers warn

mullingitover 14 hours ago | parent | next [-]

The fact that a hair-thin majority has managed to seize an inordinate amount of power, thwart all checks and balances, and enact a slow-moving nationwide pogrom should be enough to make the US a pariah for any foreign investment. There's no assurance that the US won't just outright steal all foreign capital in the country next week.

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softwaredoug 14 hours ago | parent | next [-]

I worry a degree of cronyism can go on for a while until there's a true consequence to these policies. There is a lot of wealth and trade to divide the spoils of between the billionaires and the administration.

	▲	mullingitover 14 hours ago \| parent [-]
		If the current structure stands, where steel imports are tariffed at 50% but Mexican/Canadian autos have no tariffs, and Japanese imports are only tariffed at 15%, the consequence will be the firing of every auto manufacturing worker the US and the shutdown of every auto factory. The consequences will be cruel and fair. The only reason it is not already happening is because of the TACO phenomenon and the possibility that the courts will intercede to stop the wanton abuse of emergency tariff powers.

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walls 12 hours ago | parent | prev [-]

> The fact that a hair-thin majority has managed to seize an inordinate amount of power...

This mindset is counterproductive. If you haven't recognized that over 2/3 of the country is OK with what's going on, it's time to face the music.

	▲	add-sub-mul-div 11 hours ago \| parent [-]
		The presidential approval rating has been underwater since March.

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loloquwowndueo 14 hours ago | parent | prev | next [-]

Surprised Pikachu - you mean to tell me that tariffs didn’t result in manufacturers happily deciding to ramp up domestic production and creating more jobs for Americans in need? Who’d have thunk.

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hypeatei 14 hours ago | parent | next [-]

Unpredictable tariffs specifically. Even if one disagrees with tariffs, you can still roll them out in a predictable and legal manner. Cooking up a national emergency then changing them arbitrarily is a recipe for disaster.

Legally they don't seem to be valid either (how does an emergency require tariffing the entire world?), but of course the federal courts are letting them stay in place while it works its way up to SCOTUS.

	▲	loloquwowndueo 14 hours ago \| parent [-]
		Well said. Thanks for the clear distinction!

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general1465 13 hours ago | parent | prev | next [-]

If tariffs would be aimed for final goods, while inputs remained untariffed, then maybe it could work. But the moment when Trump started issuing blanket 20-30-60-100% tariffs, the whole plan essentially imploded.

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Freedom2 12 hours ago | parent | prev | next [-]

Quite a few HackersNews commenters thought so.

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add-sub-mul-div 11 hours ago | parent [-]

You made me think of the quote:

"Elizabeth Holmes didn't 'fool all of America'. She fooled techbros and venture capitalists which is considerably easier."

	▲	unmole 7 hours ago \| parent [-]
		Is Henry Kissinger a tech bro? Is the New Yorker a VC publication?

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mindslight 13 hours ago | parent | prev [-]

The only type of "jobs" Trump is interested in are the ones he used to get on Epstein's island.

	▲	xrd 13 hours ago \| parent [-]
		It's a rarity these days that I chuckle when I read HN, but I just did. Lol.

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moomin 14 hours ago | parent | prev | next [-]

It appears auto news has archive.ph defeating tech. (This comment used to contain a link, but the link was useless.)

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softwaredoug 14 hours ago | parent | prev [-]

I hate to say it, but it seems an utter economic collapse would be the best way out of the administrations dumb positions on trade and immigration?

Otherwise, like a zombie, these dumb policies will come back over and over any time the GOP is in power until we remember how foolish they are.

	▲	12 hours ago \| parent \| next [-]
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	▲	mindslight 13 hours ago \| parent \| prev [-]
		The problem is that it would just be an excuse to turn on the money printer as he's already itching to do. And then it's not like this wannabe autocrat is going to sit idly by through the collapse and hyperinflation. Also one of Trump's master skills is slithering out of blame. He should have been a one term president after his abjectly terrible anti-leadership through Covid, yet he was able to parlay the chaos he mostly caused himself into an excuse of why he was unable to execute on all his outlandish and contradictory promises.