Tariff Man and his tariff plan cause market plunges

https://www.foxbusiness.com/politics...im-tariffs.amp

Tariffman has backed off the hyperbolic end of the U.S. claim if the Supremes don't rule his favor. Now it's just that we will struggle for years.

https://www.politico.com/news/2025/1...-bank-00612284

The conundrum of claiming to use tariff revenue to fund priorities when the executive doesn't hold the power of the purse.

Meanwhile...

The Chamber of Commerce has been warning the White House that the new trade levies will hammer small businesses that are less capable of reorienting their supply chains or front-loading their inventories, the Chamber’s executive vice president Neil Bradley said.

The CEOs of some of the nation’s largest retailers — Walmart, Target and Home Depot — also met with Trump at the White House this week, a White House official confirmed. Their concerns about supply chains echoed private pleas from some wealthy donors who have reached out to senior aides and, in some cases, to Trump directly, according to three people clo se to the administration.

Trump’s latest comments indicate that some of these arguments have been heard. And they’re another indication that Treasury Secretary Scott Bessent, the Cabinet member with the most credibility on Wall Street, has solidified his central role after helping persuade Trump to dial back his broader tariff regime two weeks ago.

https://www.politico.com/news/2025/0...ulist-00306554

And the markets jumped a bit as traders are betting that the 100% tariffs for Nov 1 are bullshit and bluster rather than policy. That's the TACO trade.

https://sourcenm.com/2025/10/21/caug...ariff-impacts/

More small businesses speak out how tariffs are impacting them

https://reason.com/2025/10/21/donald...reality/?nab=0

A reasonable take on how certain tariff myths aren't in line with reality

https://reason.com/2025/10/21/donald...reality/?nab=0

A reasonable take on how certain tariff myths aren't in line with reality Originally Posted by HDGristle

The claim that tariffs will cost US importers and businesses $1.2 trillion this year is nonsense. Tariff revenues on imports will be lucky to hit $300 billion, or 1/4 of that amount.

Everyone knows Trump exaggerates. It doesn't help when critics of his policies do the same.

You mean the one estimate from S&P Global that they specified was an estimate from S&P Global... and, if you were familiar with that estimate, that figure is a global number.

The problem with picking nits is you have to pick the right ones. Not everything is U.S. centric, but we ARE following the trend of consumers bearing the brunt of the financial impact.

You mean the one estimate from S&P Global that they specified was an estimate from S&P Global... and, if you were familiar with that estimate, that figure is a global number.

The problem with picking nits is you have to pick the right ones. Not everything is U.S. centric, but we ARE following the trend of consumers bearing the brunt of the financial impact. Originally Posted by HDGristle

Nope, your article calls it a cost borne by Americans and American businesses. Hardly nitpicking when you are off by a factor of four!

And if it is a "global number", then it suggests the rest of the world is "bearing the brunt" much more than we are.

This is exactly why I said you're picking nits.

Consumers have been hit with one of the biggest tax increases in American history. Retail prices, which had been falling steadily since the pandemic,began increasing earlier this yearas businesses passed along tariff costs, according to the Harvard Business School. Overall, businesses have faced $1.2 trillion in tariff costs this year, and consumers have paid most of that, according to one estimate from S&P Global.

That doesn't state that Americans paid that amount. You're bristling at an implication that you feel is being made based on a poor understanding of the underyling facts. They even provided a link that explained where that estimated $1.2 trillion figure came from that you ignored entirely and that 2/3rds of the cost will shouldered by consumers

In the meantime

https://www.cbsnews.com/news/inflati...ces-consumers/

And what analysis are they reporting on?

The St. Louis Fed
https://www.stlouisfed.org/on-the-ec...ng-prices-2025