this post was submitted on 09 Apr 2025
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politics

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Summary

Donald Trump abruptly reversed his tariff policy Wednesday, announcing a return to a 10% baseline tariff on most countries and a steep 125% rate on China.

His administration appeared blindsided, with Treasury Secretary Scott Bessent unable to explain the move and press secretary Karoline Leavitt resorting to combative rhetoric.

The shift likely responds to mounting criticism from conservative allies and market instability marked by a debt sell-off.

Despite confusion and lack of clarity, officials tried to play up Trump’s unpredictability as strategic leverage rather than a sign of disarray.

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[–] Bahnd@lemmy.world 161 points 3 weeks ago (3 children)

Calling it now, insider trading (If that wasnt obvious already, look at the market 30 min. before the announcment)

[–] Darkassassin07@lemmy.ca 132 points 3 weeks ago* (last edited 3 weeks ago) (9 children)

It couldn't be any more blatant. Trump himself blasted out the insider trading info 3hrs before announcing the tariff reversal:

3hr later:

[–] jonne@infosec.pub 61 points 3 weeks ago (2 children)

Good thing the Supreme Court decided that it's an official act which is totally cool and legal.

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[–] WhatAmLemmy@lemmy.world 50 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

100%. It's been obvious from the start. This is probably the top secret part of project 2025 that is alluded to exist, but hasn't been documented anywhere.

4 years of these pump and dumps will kill off most small businesses, while enabling the nazi party and preferred oligarchs (including Putin) to consolidate and own the lions share of the market; stealing trillions from global investors and retirement funds, and attaining voting rights to control most corporations. DOGE's purpose was to eliminate and disrupt every institutions ability to document and enforce these crimes.

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[–] CileTheSane@lemmy.ca 5 points 3 weeks ago (1 children)

These Countries have not retaliated in any way

They very much have. China has just become a convenient "out group" for Trump to demonize.

[–] barneypiccolo@lemm.ee 4 points 3 weeks ago (1 children)

The response will take a long time to come into focus, but make no mistake, this incident will do long-term damage to America's standing in the world. No other country trusts us about anything any more.

Many in our country are stupid enough to delude themselves about HitlerPig, but foreign governments aren't buying it one bit. They have intelligence agencies, too, and they know that he is not only an unrepentant and even enthusiastic traitor to his own country, he is a traitor to the entire Democratic Free World.

The worse he gets, the less the rest of the world will want to work with our government in any way. Eventually, we are likely to get hit with crippling international sanctions.

But he'll be using all of it to enrich himself and his friends, so he won't care at all.

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[–] courageousstep@lemm.ee 14 points 3 weeks ago (2 children)

Someone else in my life mentioned this! I’ll need to take a look.

[–] can@sh.itjust.works 4 points 3 weeks ago

It's definitely happening. I think they seeded the last time it was rumoured too.

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[–] SnotFlickerman@lemmy.blahaj.zone 114 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

Despite confusion and lack of clarity, officials tried to play up Trump’s unpredictability as strategic leverage rather than a sign of disarray.

That's literally all Trump's teams ever do and have ever done.

[–] Sanctus@lemmy.world 58 points 3 weeks ago (1 children)

Its a sign for all possible investors to flee the US. You'll never get your money back when its eaten on the whims of an octagarian pants-shitter.

[–] BrianTheeBiscuiteer@lemmy.world 38 points 3 weeks ago (1 children)

I just heard NPR, a more consistent and reliable source, state that the US would be one of the worst off GDP wise if the tariffs were to stick. Volatility is the goal right now. They're pumping and dumping and also trying to distract from all the civil and human rights violations.

[–] Gigasser@lemmy.world 24 points 3 weeks ago (1 children)

A bit of speculation on my part, but I've been hearing it was actually the Japanese selling off US bonds that eventually made the Trump admin panic and stop the tariffs. I guess the power of God and Anime saved us from this bullshit for the most part. Perhaps this was one of the things discussed between China, Japan, and Korea?

[–] orclev@lemmy.world 24 points 3 weeks ago

Nothings been saved yet, this is just a pause. There's pretty good evidence (although circumstantial) that this was just for a last minute pump and dump, and that once they've finished extracting more money from the market he'll resume tanking it.

[–] BassTurd@lemmy.world 75 points 3 weeks ago (2 children)

Ladies, gentlemen, and others, this is what we call a "pump and dump". Anyone that understands the markets at even a high level could see this coming from a mile away. A bunch of rich people just made a fuck load of money today.

[–] Brkdncr@lemmy.world 24 points 3 weeks ago (1 children)

Reverse pump and dump is a dip and rip.

[–] wabafee@lemmy.world 7 points 3 weeks ago (1 children)
[–] bitjunkie@lemmy.world 3 points 3 weeks ago (1 children)

Nah that's just what I do when your mom wants to have pillow talk

[–] wabafee@lemmy.world 2 points 3 weeks ago
[–] Jhex@lemmy.world 6 points 3 weeks ago

I believe this... however, in true Trump fashion, he is going about the stupidest possible way.

Maybe I am underestimating global greed but trump has made clear the USA is 100000% unreliable; what is the longer term outlook now for defense contractors internationally? Do they think they will continue to sell critical weapons, infrastructure, tech, pretty much anything with strategic value in the international market?

[–] tonytins@pawb.social 49 points 3 weeks ago (1 children)

Really, really shows how weak Trump is.

[–] TropicalDingdong@lemmy.world 6 points 3 weeks ago (2 children)
[–] PopcornPrincess@lemmy.world 7 points 3 weeks ago

“I’m bleeding, making me the victor!”

[–] benignintervention@lemmy.world 4 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

I should watch this again. I need some levity

[–] dickalan@lemmy.world 2 points 3 weeks ago* (last edited 3 weeks ago) (2 children)

It might still be five dollars on Apple TV, but I’m not crossing fingers, I just checked it’s 20 bucks

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[–] Archangel1313@lemm.ee 45 points 3 weeks ago

They aren't really "struggling to explain it", so much as "struggling to explain it, in a way that doesn't imply market manipulation and insider trading". Because that IS the only rational explanation for what he's doing.

[–] Zippygutterslug@lemmy.world 25 points 3 weeks ago (1 children)
[–] imrighthere@lemmy.ca 15 points 3 weeks ago (1 children)

It's syphilis, same reason he paints himself orange, hides the symptoms.

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[–] futatorius@lemm.ee 21 points 3 weeks ago (1 children)

If he does a bigger rug-pull, his hair will come off.

[–] bitjunkie@lemmy.world 6 points 3 weeks ago* (last edited 3 weeks ago)

Calling that shit "hair" is generous of you

[–] BigMacHole@lemm.ee 19 points 3 weeks ago (1 children)

I'm a Free Thinking Republican who just yesterday was Touting how GREAT these Tariffs were for our Economy and how GREAT a Stock Market Crash was for our Economy and I just want to say HAHA SUCK IT LIBARDS THIS was the Plan the Entire TIME! LOOK at that Stock Market SOAR Today thanks to this 5D Chess played by Trump! Even though Yesterday I was saying the Stock Market should be Crashing and Tariffs were GREAT! I THINK for Myself!

[–] supersquirrel@sopuli.xyz 3 points 3 weeks ago

We all need to mercilessly make fun of these people, shame and laugh at them for this.

[–] Ledericas@lemm.ee 17 points 3 weeks ago

hes getting his advice from his billionaire donors, and putin, instead of his own administration.

[–] IEatDaGoat@lemm.ee 17 points 3 weeks ago (2 children)

I'm actually extremely happy that he changed from 104 to 125. Ending on a 4 is such a big no no. We gotta end our tariff values on 0s or 5s so this change has been tremendous. The greatest tariff ever made... Believe me.

[–] Catma@lemmy.world 4 points 3 weeks ago* (last edited 3 weeks ago)

At least it still ends in a 5?

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[–] barneypiccolo@lemm.ee 16 points 3 weeks ago

Make no mistake, he wasnt making this up as he went along, he knew exactly what he was doing the entire time. The basic outline was in place - announce tariffs, make them really big, get everybody crazy, crash the market, buy options on the decrease, buy stocks at the bottom, and ride them up on the delirious news that the tariffs have been suspended.

He may have improvised the real-time details like a jazz player, but the basic chord progression was always chugging along in the background.

This is his 3rd round of this, with each increasingly larger. This one threatened to boil over, so he kicked it down the road 90 days, but he is pathologically incapable of resisting his greed, so he probably won't wait that long.

[–] Nay@feddit.nl 13 points 3 weeks ago (2 children)

It won't be long before they're saying "Just trust that he knows what he's doing. He works in mysterious ways!"

[–] vegeta@lemmy.world 4 points 3 weeks ago

Well, he is the messiah after all.

[–] futatorius@lemm.ee 2 points 3 weeks ago

"Der Trumpenführer has a master plan!"

[–] adarza@lemmy.ca 10 points 3 weeks ago

they may not know what to say, but they're probably thinking: "why ain't you lettin' me in on the illegal stock market manipulation and insider trading?"

[–] roofTophopper@lemmy.world 10 points 3 weeks ago

He shit his diaper and scared himself. He reversed what was supposed to be billion dollar tariffs. What happened to all the calls and people kissing his ass like he said? Did the bonds spook him?

I guess the part that is even more impressive is that his people try their best to vomit up some excuse to cover tangerine man. Deep down, without a doubt, you know his crew is like, this dumb mother fucker. There is no way they aren't.

[–] null_dot@lemmy.dbzer0.com 6 points 3 weeks ago (1 children)

Just when you thought things couldn't get any stupider.

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[–] j0ester@lemmy.world 4 points 3 weeks ago

BoYs WiLL be bOyS. Har har

[–] inclementimmigrant@lemmy.world 4 points 3 weeks ago

Well I certainly can.

You're a bunch of weak-assed, scared PANICANS.

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