Lutnick: "We do expect a 10 percent baseline tariff to be in place for the foreseeable future ... what happens is the businesses and the countries primarily eat the tariff."
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The GOP, the party of laissez-faire, is going to dictate to biz what they will do with their $, wiping out profits. So the gov, led by a 4 time BK, trust fund brat that inherited $400 mill, who can’t get a loan from a US bank, is taking over private biz and dictating what they will do.
This is a tax that hits the poor and middle class the hardest, all so the Republicans can achieve their longstanding dream of eliminating income and corporate taxes for rich people.
American journalists should be required to do mandatory rotations in Europe (preferably the Netherlands) to learn how to properly interview politicians.
They’ve been lying about this tariff shit for months. If people still don’t understand the tariffs are passed onto the consumer then is no help for them. He’s trying to appeal to that right wing fox brain. He’s not going to find it on CNN. Why is she even wasting time with him?
“A solitary predator, the country will often try to eat the tariff that has been imposed by the Nazi clown, but it will often fail. You see, the clown is busy negotiating with himself & losing, making the country’s attempts to eat the tariff much more difficult”
These are the SAME people who explain that raising minimum wage for fast food workers will IMMEDIATELY INCREASE the cost of food, because god forbid the employer ever take a penny from their profit.
Lets say that the foreign companies have to shoulder the tariffs. Many have not even a 10 percent margin. So why would they want to export anyting to the US? Why do US businesses cancel orders? Should it not be the other way round?
LUTNICK IS LYING!
#TrumpTariffs are an epic disaster
He could be stopped in ONE DAY by GOP
Congress has the power of the purse but House & Senate GOP
do NOTHING but rubber stamp his craziness
So as we slide into recession & prices for ALL goods soar?
Don't just blame #Felon47
so much winning. How are you guys feeling now? Everything is dearer, because el moron wants you to pay EXTRA on top of what it cost to make and import shit.
Congress? Come on…
Trump is BARRED from even taking the Oath of Office to become President.
Amendment 14, Sec. 3.
He is NOT the legitimate President.
But Democrats are too terrified to file any lawsuit to enforce it.
Probably scared a J6er will pop them.
Coward Nutlick has never, ever run a business engaged in the import and sale of goods. He's as qualified to make his ascertian as the failed casino owner he works for.
The average profit margin for American small businesses is typically 7-10%. So, while Walmart or GM might be in a position to eat that loss, if they wanted to, MAGA Jane in Indiana who runs a home decor business is going to declare bankruptcy.
Cal-Maine's "Annual profit is on pace to top $1 billion, a fourfold increase from a year earlier. Its market value has doubled over the past 2 years to about $5 billion, making it one of the top-performing stocks on Wall Street."
Bird flu was real. Come on. It has hit the poultry industry hard. Backyard organic flocks got it too. In fact backyard flocks mixing with wild birds is one way it spread.
Are backyard poultry part of the "Big Egg" conspiracy?
Bird flu has been around for years. Entire barns have had it
When your local chicken owner sees the big chain grocer selling eggs for $7.99 - and they’re lucky enough to not have had bird flu hit their local flock - they feel empowered to charge the same since they’ve got the added “artisan” vibe. Trust me, I drive by the “Eggs for sale!” signs in rural IL.
He’s not wrong. You can look it up. The price of eggs only partially reflects the bird flu; Big Farma hiked up the prices well above accounting for flu and inflation. Same thing happened during COVID. And then prices never came down. Welcome to capitalism, Nigel!
lol you just told me to go farm eggs myself and then said you wished someone else would restart your own egg production on the site you own? Woof that’s a lot of contradiction in the same breath.
Did you read the article? Bird flu is absolutely real. That doesn’t mean egg companies didn’t also take advantage of the crisis to extract more money from consumers over and above the costs of bird flu.
See my reply. If “trickle down economics” exists, it’s that small businesses look to big companies to set their prices. I’ve been commuting between Chicago, IL and Dubuque, IA for the last 20 years. Look up that drive. Those “Eggs for sale!” signs are up to $5-7/dozen these days. lol rural farms
Of course. That's what Walmart is going to do for me to show their patriotic support of trump. Same with Home Depot. And General Motors. Same price for me, less profit for them!
I remember when prices rose dramatically after Covid. Only half was caused supply chain disruption. The other half was not increased costs but companies boosting their profits.
If prices don’t rise for US consumers, then THERE IS NO POINT IN THE TARIFFS!! The whole point is to RESHORE manufacturing. You can’t do that unless Americans STOP BUYING IMPORTS. You fucking idiot.
If a business is going gangbusters, it's possible they would have the capacity to absorb some of the increased costs, but is that likely in the current economic situation? I don't think so. Consumers will pay more .. inflation will rise, discretionary spending will tail off and recession will hit!
I seem to remember years of “we can’t raise taxes on corporate profits, they’ll just get passed onto the customers“.
But that’s just because their shameless hypocrisy is only matched by the stupendous ignorance and almost incomprehensible gullibility of their base.
Also, they lie a lot.
Is it a requirement for all the male ass lickers in this regime to have their hair slicked back like some kind of wuss?
(no offense to intelligent folks who might do this)
Nutlick is lying. Once again, that is NOT how tariffs work. Fox, Leon Musk, & Mark Fuckerberg's government sponsored propaganda machine is in overdrive. Got keep feeding rapid pace lies to the people or they might take a second to realize their democracy is being stolen and sold for parts.
Nah, don’t think so, something ‘mystical’ going on with the US markets at the moment, doesn’t matter what this carnival barker says anymore, they do okay for some reason. 🧐
When a 10% tariff is imposed, businesses raise prices. Usually by more than 10% because profit is added on top of the costs. The tariff also applies to shipping cost. Domestic producers may hike prices too, even if they aren’t directly affected. El Loco-Lutnick has no clue how it works.
Businesses will eat the tariffs? That is a lie. WE THE CONSUMER EAT THE TARIFFS! Maybe we should send the tariff portion of our purchases to 1600 Pennsylvania Ave!!
Wouldn’t that be the ultimate pole in the eye to this tariff lie?? Make everyone see that those companies aren’t eating the tax… we are and now we’re sending it to the LIAR to pay for!!
I agree, we are being dismantled and I’m angry and I am fighting. No sense in fighting each other! I just thought her looks were funny. I have a right to my opinion.
Sorry...I'm not taking aim at you. I agree with you.
My sarcasm might be misguided as I get tired of reading observations when we need actions that go beyond writing to our Congressmen/women, making phone calls...you know.
So I apologize for sounding like a jerk.
I'm so helplessly frustrated.
I wonder every day what more I can do. I wait for the streets to be flooded with people...every day....demanding the overthrow of this evil man & his enablers.
Evil here with eyes toward the rest of the world.
Bad enough that fascism was in power in EU once..this goes beyond our continent.
Dude. During COVID, corporate profits were at an all time high due to high demand. Inflation was up last year at the same time those same corporate profits stayed high! If you think companies will eat those costs, you’re dumber than we all think you are!
Why don’t reporters start pressing them by ask, “will the Trump Admin/GOP charge penalties to Businesses that don’t absorb the Tarriffs?” Of course they won’t, they expect consumers to pay, but they want the businesses to get blamed for what the GOP/Trump have done.
Neither is saying that in March of '18, tariffs were placed on steel and aluminum,not on every damn thing we import. Do the math - how much have building materials (steel) and products that use steel (automobiles, washers, dryers) gone up since then? At least 25%. So who ate those tariffs?
You can keep saying that but reality will play out and your continued lies will anger more and more people as your base of support will continue to shrink smaller and smaller.
I'm not an economist, but what I'm getting from this is that a Mom & Pop shop will lose a 10% profit so that a billionaire can get a tax cut. Am I getting this right?
Well I get that...but this guy is saying the businesses will eat the tariff cost and not pass it on, which seems highly unlikely. As to my point, if what he's saying IS true, it will still be a hit to people who run (especially small) businesses.
The businesses could only eat the tariff cost for a short time and also only in case of very light tariffs. At the end of the day, consumers will have to pay much higher prices.
Products manufactured in other countries - American importers pass the 10 percent tariff on to American consumers.
Products manufactured in America - American manufacturers raise their prices to reflect the new price and that is passed on to American consumers.
@cnn.com and Dana Bash have evidence right in front of them on Google and Amazon . Gas prices are up, flowers are up, food is up, toys and baby items are up.
Dana might as well work for Fox network she is the worst at fact checking she just lets him steal all the lies and sits there and smiles. I used to like her but she has no skills in fact checking
This is such a lie. I’ve already turned down services and goods because the providers are already adding “tariffs surcharges”, and I do not expect this to go away any time soon. Businesses are going to fail or suffer and it WILL trickle down and impact the economy in a way we may not recover from.
Are you calling talking heads reporters? Hard to find a reporter on msm shows. Just asking softball questions and not pushing back on lies. Very few Rathers and Breslins in todays day. Acosta and Maddow come to mind. But they are not interviewing any of these liars because the gop are cowards
In Bash's defense,
Nutlick kept talking &talked over her- to eliminate pushback.
It's what liars do.
💁♀️He had a look of dread b4 he started talking. He speaks 4 an audience of one. Isn't he rich enough to not need this BS?
💁♀️ drumpf gets these old guys on his side, who are also afraid of irrelevance.
I would love to see anyone ask him how a foreign government "eats" a tariff.
He is clearly lying to the world but the media keeps having him on as if he isn't a propagandist.
And let me guess...Dana didn't correct him on any of it? That's the shit that really pisses me off. Shut down the lies, stop shaking your head & moving on!! Call them liars every time they lie!!!!
So only large bushinesses survive. That is a slap in the face to every small business owner already struggling with increased cost of goods and high labor costs.
Which begs the question, what is the real goal? I’m just a simple caveman, revived in 1961. If I know once prices go up, they NEVER come down, they should know this. Are they stupid or corrupt? I think both stupid and corrupt.
Somewhere in America I suspect there are quite a few business’ scrambling to figure out how to raise prices to offset tariffs while trying to pretend their product is American made
Dana never pushes back primarily because she doesn’t understand the argument but more importantly because Mark Thompson her boss has instructed all staff not to “criticize Trump”.
Well, I hope Dana and Mark have a career back up plan because with no journalistic integrity they won’t be taken seriously after Trump is gone. How will anyone know if they’re making stuff up to suit their or someone else’s agenda instead of reporting facts?
Is Nutlick really as stupid as he makes himself sound, when he spouts this nonsense that none of the 10% “baseline” tariffs will get passed along to American consumers?
I don’t even know if there is a way for the exporting country to “eat the tariff”. They’re going to pay it to the importer? Refund it to the consumer? It’s nonsense.
It’s like saying a car salesman is going to eat the sales tax.
The king's idiot blabbering on about future tariffs while he has one tariff deal that means little and the Chinese pushing back. Trump may be able to "send under the yoke" other nations, but at what cost? Trump is destroying the U.S. brand like Musk did with Tesla. Shame, shame.
These greedy corporations will up their prices, regardless of what the tariffs do and they will never bring their prices back down. Just like they did during Covid.
Comments
I'm not an econ major and even I know this....
And, for the most part, he's right.
This is a tax that hits the poor and middle class the hardest, all so the Republicans can achieve their longstanding dream of eliminating income and corporate taxes for rich people.
Has he never heard of capitalism?
“A solitary predator, the country will often try to eat the tariff that has been imposed by the Nazi clown, but it will often fail. You see, the clown is busy negotiating with himself & losing, making the country’s attempts to eat the tariff much more difficult”
They also know the “libs” know what they are doing, which is why they have to “own” us by taking jobs and destroying our institutions.
The diabolical evil of this crew and their supporters is beyond.
She just let him LIE to their audience.
AMERICANS WILL PAY FOR THE TARIFFS!!
"please clap"
#TrumpTariffs are an epic disaster
He could be stopped in ONE DAY by GOP
Congress has the power of the purse but House & Senate GOP
do NOTHING but rubber stamp his craziness
So as we slide into recession & prices for ALL goods soar?
Don't just blame #Felon47
NOW … figures for 80% DUMP TAX !!! OR …
145% DUMP TAX 🤬🤬
80% DUMP TAX = $200.00 item + $160.00 tax = $360.00
145% DUMP TAX = $200.00 item + $290.00 tax=$490.00
Not including your STATE SALES TAX 😉
The IGNORANT VOTERS VOTED FOR? Good job🖕
Trump is BARRED from even taking the Oath of Office to become President.
Amendment 14, Sec. 3.
He is NOT the legitimate President.
But Democrats are too terrified to file any lawsuit to enforce it.
Probably scared a J6er will pop them.
https://thekickassentrepreneur.com/average-profit-margin-small-business/
What a 🤡🤡🤡
I could get more trustworthy information from my cat.
That's not how tariffs work
Cal-Maine's "Annual profit is on pace to top $1 billion, a fourfold increase from a year earlier. Its market value has doubled over the past 2 years to about $5 billion, making it one of the top-performing stocks on Wall Street."
https://www.wsj.com/business/egg-prices-shortage-cal-maine-foods-f53286b3?mod=mhp
Are backyard poultry part of the "Big Egg" conspiracy?
Bird flu has been around for years. Entire barns have had it
I own an old farm site with an old chicken barn where I grew up selling eggs. Would love for someone to put in back in production.
So are cage free eggs part of the "Big Egg" Conspiracy too?
BTW, I own an old chicken barn anyone is free to buy and start up a farm again.
https://bsky.app/profile/prestonmui.bsky.social/post/3loulqnsyks2e
That’s the thing: Trump is a clueless idiot. Not serious.
What a clown
And I think he ran a financial trading platform - a typical Wall Street disconnected from reality asshole
But that’s just because their shameless hypocrisy is only matched by the stupendous ignorance and almost incomprehensible gullibility of their base.
Also, they lie a lot.
And the part about the companies eating part of the tariffs is laughable.
Licking DJT nuts is the game.
(no offense to intelligent folks who might do this)
Well, damn! That'll change EVERYTHING.
I understand that was just your observation @mimicanada.bsky.social but...WTH?
FIGHT. WE ARE BEING DISMANTLED!!!!
I think I'm past seeing anything funny anymore.
My sarcasm might be misguided as I get tired of reading observations when we need actions that go beyond writing to our Congressmen/women, making phone calls...you know.
So I apologize for sounding like a jerk.
I'm so helplessly frustrated.
Evil here with eyes toward the rest of the world.
Bad enough that fascism was in power in EU once..this goes beyond our continent.
Does it give you indigestion?
Instead, can we use English which makes sense. Tariff eating does not make sense.
He just trailed off before he finished that thought.
Products manufactured in America - American manufacturers raise their prices to reflect the new price and that is passed on to American consumers.
How is there no pushback on this?
Retailers need to display the tariffs.
Someone needs to ask him that.
Nutlick kept talking &talked over her- to eliminate pushback.
It's what liars do.
💁♀️He had a look of dread b4 he started talking. He speaks 4 an audience of one. Isn't he rich enough to not need this BS?
💁♀️ drumpf gets these old guys on his side, who are also afraid of irrelevance.
He is clearly lying to the world but the media keeps having him on as if he isn't a propagandist.
#BlueWave2026
#BlueWave2028
It’s like saying a car salesman is going to eat the sales tax.
The House GOP’s tax plan would cost nearly $5 trillion, according to a new estimate from Congress’s nonpartisan tax scorekeeper.
Counter with the “Middle Class Fair Tax Act” with only those earning under $250k receive a tax cut and SS is no longer taxed.
What is it with the MAGA propagandists and "eating" ...
I must say they do enjoy eating their own and everything else around them ...
Do even the MAGA morons believe that lie anymore?
Foreigners don’t pay the #RepublicanImportTaxes
American companies don’t pay the #RepublicanImportTaxes
American consumers pay the #RepublicanImportTaxes
Don’t let Lutnick gaslight you.
Yum!