- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
The findings suggest U.S. consumers will continue to struggle with high prices — something Trump had promised to address in the run-up to his re-election.
Six months into Donald Trump’s unprecedented gambit to impose sizable tariffs on imports, U.S. consumers are already shouldering as much as 55% of their costs, according to a new report from Goldman Sachs analysts.
And with new tariffs likely on the way, the cost burden could rise even higher, they said.
The findings, released Sunday, suggest U.S. consumers will continue to struggle with high prices — something Trump had promised to address in the run-up to his re-election. While inflation rates have come down from the post-Covid peak, they have remained stuck above levels economists consider healthy, causing consumers and businesses alike to continue to report feeling burdened by price increases.
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It’s almost like Americans should have listened to every fucking economist in the country.
But Americans are stupid, so here we are.
Only 55%?
The large retailers were trying to hide the price increases initially.
Only? I would have expected them to take all, and a bit. Never let an opportunity to make some extra profit go to waste…
All the neo-liberals and conservatives who voted against Bernie deserve this.
Right, Bernie would have come in and what, magically persuaded congressional Republicans to support all his programs and initiatives?
You probably don’t even realize that 90% of Obama and Biden’s perceived failures in office were due to massive opposition by elected Republicans.
Like, ObamaCare was originally supposed to have a single-payer public option, but they couldn’t get enough enough votes to pass it.
But you are talking like Bernie would have come in and what, Jedi Mind Tricked the Republicans into voting for single payer?? Incredible.
You will never, in a million years, make Bernie Bros understand that presidents have to have Congressional support to get things done.
They think he would have floated in on angel wings and waved a magic wand to fix everything. They lack the fundamental understanding of how our government does/doesn’t work.
It’s exactly the same with the fools that voted 3rd party. They honestly thought they could bring in a rando from a party with ZERO representatives in Congress and have them actually get things done.
These are not people who are comfortable using critical thinking skills.
Bruh ease up.
Bruh, “neo-liberals” and conservatives are not the only people being hurt by tariffs. That’s something a right-wing troll says to make the Left look bad.
Literally no one said they were. You’re arguing with your own assumptions. You gotta ease up. Chill.
One man can’t do it all. The fact even he can’t beat fascists and neo-liberals shows us that we don’t want to solve these issues.
In one message, you say all the problems we have today are all because Bernie didn’t get elected, now you tell me one man can’t make a difference… do you even see the breakdown of your logic here?
Just out of curiosity, how many times have you written your representatives in Congress? How many times have you sent emails to Chuck Schumer, or tried to motivate friends and family to do the same? How many times have you emailed the DNC? Do you do anything else besides post defeatist messages online?
Because the Republicans don’t seem to have a problem getting their voters out to vote.
I’ve got no dog in this fight, but you’re misrepresenting them.
Their original post says “all the neoliberals and conservatives who voted against Bernie”. It’s not that Bernie, being one man, would have made a difference. It’s that the bloc lining up behind him would have made a difference.
And the fact that he couldn’t beat a bunch of neoliberals and conservatives is OUR (the voting population’s) failure, not his.
Are you nuts? Writing representatives is one of the most useless things you can possibly do.
Thanks for answering the real question as to why the Left is so politically ineffective. You are either too lazy or too defeatist to bother making your voice heard. Oh, except in these message boards where you cry about how nobody enacts the policies you want, when you dont even bother showing your representatives you support them.
Good luck in life.
It’s because they’d rather have fascism than communism, so that’s what we all get.
If you think representatives care about anything more than money, you might be a useful idiot.
Viva your basement revolution, Che Guevara. Talk about useful idiots, I’d bet good money you’ve barely cracked a history book in your life.
Also, do you think Bernie is a communist because he honeymooned in the Soviet Union? Brother, are you ever gonna be disappointed…
What childhood enemy of Trump’s is making kitchen cabinets and is now being punished?
The “National Security” implications of cabinetry are beyond me.
And 6 months from now, it will be the full cost. They’re just turning up the heat slowly enough that the frogs don’t notice the difference.
Who else would be bearing the costs? The government is profiting from them, foreign companies and individuals aren’t affected beyond a drop in purchasing power, and companies are just going to pass the costs on to the consumer.
foreign companies and individuals aren’t affected beyond a drop in purchasing power
Actually they are affected. Either their profit margins drop, or they drop trade with the USA completely.
But any of this still affects American consumers.
I have no doubt that Goldman Sachs have their numbers right, but not the implications and knock-on effects etc.
Their percent margin might drop, but there is no way they just eat say a 100 dollar extra tariff charge. They would charge 100 dollars more on the item(s). They make the same profit, consumer pays more. The only time this isn’t true, is if the consumer will not or cannot pay the extra 100 dollars for the product and the sale is lost. In such a case they may try to pay part of the tariff and not raise their costs to account for margin.
In practice I think many companies will actually charge more than the tariff to maintain percent margin.
So definitely affects US consumers and companies, but may not affect foreign companies really at all.
Yep. If consumers are only bearing some of the costs now, then inflation will continue.
Tell your employers and demand a raise to compensate. Pass the buck until someone in the finance sector gives a shit.
The employers are hoping to replace nearly everyone but those in the C suite with AI.
Ironically, only the C suite could be replaced with AI.
100% this. They are usually so formulaic and have such little creativity, that I really think boards should have started there, rather than with other jobs. The problem is that C suite types sit on each others’ boards…
“Hey boss, can I have more money?”
“No”
“Okay, bye”
This time, exporters are bearing some cost, along with U.S. businesses, who may actually be sparing consumers even worse price increases for the moment. […] Businesses also might have accumulated inventory in advance of the tariffs setting in, allowing them to hold off on raising their retail prices more significantly.
In case you were curious about the remainder.
I’m so broke rn that I’m rehoming most of my ducks. I’m only keeping 3 of the 8 that I have. I’ll save like $60/month on feed with a smaller flock. That money won’t go towards my savings, but to my mortgage payment which will go up by $40 starting in December.
You probably bought a house that you could barely afford because something cheaper wasn’t good enough for you.
You’re part of the problem.
Needlessly antagonistic, baiting real people into arguments, weaponizing class war talking points.
You’re the whole problem.
Right. I forgot we’re not allowed to criticize people for what they spend their money on.
It’s bad for business.
You’re not part of the problem. Don’t change your spending habits.
Very on topic and coherent response.
I didn’t though. My house is absolutely tiny and was very cheap because of that. I don’t need a big house. Up until a couple months ago, I’ve been able to afford it and everything else without issue. I’ve cut out almost all luxuries from my life and get groceries at the fuckin dollar store now.
You really shouldn’t assume shit about people. Acting like a dickhead online, unprovoked, isn’t a good look either.
You’ll catch way more flies with honey, dear.
The size of your house isn’t indicative of the price. There are houses way smaller than mine that cost way more.
You get groceries at the dollar store? Sweetie, maybe you should get on welfare if you can’t afford groceries.
Keep getting upset because someone dared to criticize how you spend your money. It’s the American way.
Lmao okay, pal. You sure have hit the nail on the head with your assumptions of my life. You should totally be a detective with those skills of deduction.
You’re right.
There were literally no other houses that were more affordable than the one you bought.
There weren’t in my area lmao.
Then maybe you can’t afford to live in that area.
Bruh ease up.
Shit even your mortgages have import tariffs
Yep.
Fr tho, I think the issue is that my town is changing a lot of stuff and I think zoning is changing which is making property taxes go up. I’m pissed to say the least
Is the GOP play here to just keep manipulating the stock market with tariffs then remove them when the campaigns are in swing so they can say “look how we fixed the economy!!1!”
Which their base may or may not eat up depending on how bad their attention span are.
The other option is they have no plan and their just gonna keep grifting.
See? Americans actually do love high taxes and big government! Maybe Bernie should start talking about how Mexico’s gonna pay for universal healthcare! (And then just raise taxes)
Who does Goldman Sachs think is bearing the rest?
Obelix.
Whoa, are you saying not all companies were total loyalists to Taco and didn’t just eat the cost of his egotistical fantasies?
Not this Guy.
