Donald Trump’s White House had grandly promised “90 deals in 90 days” after partially pausing the process of levying what the US president called “reciprocal” tariffs.
In reality, there won’t even be 9 deals done by the time we reach Trump’s first cut-off date on 9 July.
The revealing thing here, the poker “tell” if you like, is the extension of the deadline from Wednesday until 1 August, with a possibility of further extensions - or delays - to come.
At this point the Trump admin is just trying to find the best way to back down without looking weak. They don’t really have a plan to do so, they’re just hoping some other shit storm takes center stage.
In the case of Australia, our government decided that it’s not worth trying to secure a deal for a number of reasons:
- the whole world is in the same situation, and our tariffs are less than others, so others can do the heavy lifting
- we’re not really adversely effected. We don’t sell heaps of things to the US and they need to keep buying the stuff that we do sell.
- you can’t really make a deal with someone who will discard the deal as soon as it becomes beneficial to do so.
- whatever concessions we might offer are better used in other negotiations.
- China is presently wooing us and we’re more desirable since we’ve curtailed our long standing romance with the US.
The rubric is going to be similar for other countries.
If nobody bends over for Trump he will end up fucking himself.
Yes, but don’t count on it, countries are stupid and selfish.
Yeah but, a few or even a bunch of other countries “doing deals” won’t really change the calculus for us. It would really take most countries really grovelling to change the dynamic.
Let’s not forget, the status quo pre-Trump was the best everyone could achieve for everyone involved.
Everyone hates capitalism and that’s fine, there are many worthy criticisms but one benefit is it’s ability to find the most profitable balance (for those with the capital). Arbitrary rules (tariffs) are always going to be a net loss.
What I mean is, there’s not much incentive for anyone to make a deal because the situation will always be worse for them than it was pre-Trump.
I’m amazed by the number of “very serious people” I’ve met in the corporate finance world who think this man is not an idiot. It’s like a movie where aliens take over people’s bodies and I’m starting to identify them one by one. I’m talking about well educated people. It has really taken me aback.
Some “smart” people are very religious and don’t use a stove on the magic day to get to heaven.
In this case I think it’s more of a “the last economic crisis didn’t effect me so I’ll be fine or even profit if it happens again” situation. I get the sense that some of them even hope it’ll happen again to put the dregs back in their place. They don’t seem to be willing to acknowledge anything going on at a global scale to isolate the contagion of the United States economic and foreign policies. They can’t acknowledge the conventional agreed function of something as rudimentary as trade deficits, or the predictable outcomes of applying scattershot tariffs. They are totally delusional and I know they were taught this stuff in college even if they’re just PEG bros or lenders. It’s really fucking scary magical thinking that ignores some glaring lessons of history.
Ideology will always trump education. That’s just how human brains work.
None of them believe that crap
Turnip is a convenient scapegoat … the US government has literary been bought and sold … they placed a mascot on the driver’s seat while all the rich, wealthy and corporate owners in the background can do whatever they want and make tons of money while bankrupting the country … they don’t care if the country loses, they’ll be making billions for themselves
And when it’s all over, the rich and wealthy owners will walk away into the shadows and let the world blame everything on the orange turd.
…I think they do. I think they believe it. We’re not talking about tremendously wealthy and insulated people here.
They graduated from one of Canada’s top business schools.
The plan? Negotiate 90 trade deals in 90 days.
Do it, drive that damn dollar down. I’ve got almost all of my holdings offshore by now.
Art of the deal! 🫲🍊🫱
Art of the deal is actually making the deal, not sealing the deal. And he’s made a lot of deals! None of them good, most of them never sealed!
TACO grundle.
More Taco stuff, then.
It was Taco Wednesday after all.
I bet the 9 countries that have made a deal, wish they hadn’t.
I’d laugh if all 9 were to just reverse on that. Why shouldn’t they?
Taco is not to be trusted and constantly reverses himself…why is everyone else expected to be playing fair, while he gets to do whatever the hell he wants?
people need to learn that the way you deal with bullies is everyone stands together and say fuck off with that shit
if you capitulate, you get bullied some more
Honestly, they should just reneg. Fuck it, it’s Trump Admin America. You can’t trust them for shit.
Cue trump threatening the rest of the world with nukes because his feelings are hurt
That’s how the world should be treating us. Fuck us.
The world has moved on … and they’re all just letting the Taco Tot to play by himself in his play pen and let America deal with him.
Hey America! … have fun baby sitting
The rest of the world has all the cards… Shit, they got the whole deck at this point.
Has trump said thank you once??
The rest of the world is playing Hold ‘Em, and I suspect this is what trump is actually playing:
Don’t be crazy. That’s way to advanced.
I suspect that the concept of “sorry” is quite literally too complicated for him.
Like really, does anyone think Donald Trump has ever once apologized with any amount of honesty? That arrogant pile of pride and nonsense could not possibly have experienced a single moment of honest self-reflection.
One of the prime lessons taught by his mentor Roy Cohn was NEVER admit defeat, and NEVER apologize. Both things signal a loss, and you should always be the Winner.
“Person, woman, man, camera, TV.”
He can’t even say the name of that game.
It’s TACO Tuesday every day.
