this post was submitted on 11 Mar 2025

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Trump vows to take ‘hundreds of billions’ in tariffs as Australia’s hopes of getting exemption fades (www.theguardian.com)

submitted 1 month ago by HellsBelle@sh.itjust.works to c/world@lemmy.world

9 comments fedilink hide all child comments

Australia’s chances of escaping America’s global steel and aluminium tariffs appear all but extinguished, with the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.

“We’re going to take in hundreds of billions of dollars in tariffs, and we’re going to become so rich, you’re not going to know where to spend all that money,” Donald Trump told reporters on board Air Force One flying from Florida to Washington DC.

“We’re basically going to take back the money – a lot of the money that we’ve given away over many decades.”

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[–] nova_ad_vitum@lemmy.ca 1 points 1 month ago (1 children)

the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.

I will never understand how Americans developed a taste for his constant hyperbolic bullshit.

Really? Tariffs? Rehashing pre-WW1 economics theories is the greatest thing America has ever done? Greater than abolishing slavery? Greater than the civil rights act? Greater than the moon landings? Greater than the invention of the transistor?

Trump is at a point where nobody bats an eye to this. Trying to hold him accountable for literally anything he says is futile, and half the country things that quality is a good thing and they enable it.

[–] HobbitFoot@thelemmy.club 0 points 1 month ago (1 children)

You have a section of America that wants more manufacturing to return to the US, and they see tarrifs as a way to make more production domestic. Those people haven't thought through that that will cause a lot of inflation and will heavily impact a lot of the manufacturing industry that the US still has.

[–] nova_ad_vitum@lemmy.ca 2 points 1 month ago

Even if this plan succeeds, it's not like the countries you just tariffed are just going to allow American exports into their markets. It will shrink the whole economy AND cause inflation at the same time. Economics fear this state for a reason.

[–] ExtremeDullard@lemmy.sdf.org 1 points 1 month ago (1 children)

“We’re going to take in hundreds of billions of dollars in tariffs"

...from ourselves.

Trump still doesn't understand what tariffs are. You'd think the moron would have Wikipedia'ed tariffs at some point after talking about them for so damn long.

[–] Xanthobilly@lemmy.world 1 points 1 month ago

My theory is he fully understands tariffs, but it’s a convenient way to siphon money off from Americans into a coffer he can steal that doesn’t require the IRS.

[–] Etterra@discuss.online 0 points 1 month ago (1 children)

I can't wait for Trump to come up with the brilliant, never before thought of "just print more money."

[–] MonkeMischief@lemmy.today 1 points 1 month ago* (last edited 1 month ago)

""We found the gold that was in Fort Knox! It was just sitting there. We could just use that. America will be so rich with all this gold Sleepy Joe and his people wanted to keep from all of us. We're gonna take this gold. It'll be the best thing. Lotsa lotsa gold. It's a lotta gold. Gold....yeah."

Said President Musk's little orange pet on Monday."

Unless this already happened in our reality...man I wouldn't even be surprised anymore...

[–] kingie_d@feddit.uk 0 points 1 month ago (1 children)

Time to shut down Pine Gap

[–] dellish@lemmy.world 1 points 1 month ago

Especially now that

The US have told the Five Eyes to stop sharing intelligence with Ukraine - something I suspect the other Four Eyes may have a moral problem with, and
The US is obviously compromised. Sharing intelligence with them is akin to just handing that intelligence straight to the "enemy", whoever that may be these days.