Anybody else pass on March 31 frenzy?

[aronchi]

@jay3

So while I understand the reason for what was done, I can’t understand how it would be implemented so poorly. #1 imposing a blanket reciprocal tariff that takes effect in only a week doesn’t give countries time to respond before immediately hitting the US consumer. #2 a blanket tariff, not done on a product by product basis, is just lazy. If you are going to do it, at least do it right.
That being said, it’s clear there will be short term pain but I don’t buy into the argument that this is going to start a trade war of any sort. The US market is by far the strongest market for many of these impacted nations. To think they will either walk away from us or start a tit-for-tat is not realistic. Most likely, there will be intense negotiations in the coming weeks where countries will announce commitments to importing more product from the US in exchange for lower reciprocal tariffs. The administration will chalk it up to a win.

Agree with first part, 2nd part disagree. I don’t think there’s really any “interest” in a deal - and the market seems to be implying this today. This was clearly billed as a way to “get back” at the world for perceived trade imbalances, which, btw, are not actually “bad”. It just means we buy more from somewhere than they buy from us. There will be significant tit-for-tat escalation, especially on the part of the chinese and likely Europeans. At the end of the day, even if, and it’s a big if, these are negotiated away, the damage has been done. Even with no trade barriers, US goods and services are now considered toxic to many of these nations. They are, if you will, Tesla, for a majority of US ev buyers.