..so imagine this, your company circulated an internal staff memo indicating a -20% across the board salary cut beginning next month because 'if something had not been done' your company would get into financial distress
..following which, your company implemented a share compensation plan for its top executives.
..and when you and other production workers took management to task with a nationwide worker strike crippling company production, your management then capitulated and reverse course to reinstate all salaries to its original position.
..how do you now feel about your management? Was the -20% salary cut even necessary? Were you being lied to? Do you still trust them?
..Win or lost, Team Trump has lost complete trust and credibility.
..Lost or reduced confidence have greater effect on consumer and investment behaviour/plans than the tariffs themselves, because whatever that remains with the tariffs at the end of the day when the dust settles, would be in the negligible range of 10-20%.
..It won't be everything going back to be the same before the tariff, as you might want to believe.
Expensive IPhones and other high end consumer electronics purchased mostly by the well-off/affluent are exempted; but the 80% of good Chinese cheap consumer goods purchased by his left-behind blue collar base at Dollar Stores, Walmart, Costco, and other low price retailers are slapped with a 145% tariff.
Most of them are low-end low value-added labor intensive good quality cheap Chinese products that we never ever manufactured in the US in the first place or that we stopped producing decades ago as it is not our comparative advantage to produce low end cheap goods! So he says that he wants to reshore tech rather than cheap toys .
But his exemptions will not reshore iPhones or tech goods and they will not reshore either cheap goods we can’t and won’t produce at home! So all contradictory dissonant inconsistent and incoherent policies taken by the seat of the pants and are decided and reversed on a whim via UnTruth Anti-Social in the middle of sleepless zombie nights!
So not even Make America CheapToys Again! This 145% tariff is the most regressive tax in US history that shafts the working class that he pretends to want to help while leading to almost no reshoring ever of jobs on goods we stopped producing in the US in the 1960s nor of the tech goods we want to reshore and that we are now exempting from tariffs to avoid pissing off many US consumers and to avoid screwing Apple’s and all other US tech firms’ profits! https://x.com/Nouriel/status/1911101928567668820
