tariffs start this weekend

In early 2020, economywide inflation hovered around the Federal Reserve’s long-run target of 2 percent. When the pandemic began in 2020, inflation initially fell as many people reduced their social interactions and lessened their consumption of in-person services.

Those tariffs had a lower impact since imports decreased

This thread didn't age well.

Aged fine. Donnyboy caved

With the end of the 'de minimus', it's going to be interesting to see customers of Temu/Shein learn how tariffs really work.

Chardonnay Love, an artist from Pennsylvania, says she received a text message from DHL on Tuesday explaining that she needed to pay $26.20 in import duties to get a Shein order that already cost her $267.14. The package was shipped from Guangzhou, China, and arrived at a customs office in Cincinnati on Tuesday, according to DHL tracking records she shared with WIRED. They show Love’s order was put on hold for several hours, during which she received the notice asking her to pay the import duties. DHL also noted the package would be returned in five days if she declined to do so.

https://www.wired.com/story/tariffs-...es-shein-temu/

https://www.yahoo.com/news/trumps-re...213042485.html

"White House officials claim that the new policy could yield up to roughly $1 trillion in new annual revenue,"

Let's look at the math.

That number seems a bit absurd. America imported about $3.3 trillion of goods last year, so achieving $1 trillion in new tariff revenue would require tariffs to be set so high that they would severely reduce imports—thus reducing the revenue from tariffs.

Hmmm...

Refresh my memory...

How many dollars has Trump collected thus far from the new tariffs he's imposing?

From memory...
25% tariffs on MX and CA paused.
'de minimus' tariffs paused as they forget a little detail...how to collect them.
The 25% tariff on steel and aluminum don't take effect until March (so far the record indicates a good probability of a pause.
The reciprocal tariffs are months from incorporation.

We'll wait for the GAO office detailed report.