I Told You So - 24 March 2025

When Kim Don-Felon and his Merry Band of Fascists (so says this Tesla investor) announced that he would Make America Great Again by imposing massive tariffs on foreign producers, these missives told you that what would happen is that American producers would use these new, elevated, prices of foreign product as carte blanche to raise domestic prices. Not only do Chinese companies (and not Beijing) not pay the tariff bill, but... Double whammy time. Well, it has come to pass

"What we're seeing so far happen is mills capitalize on the tariffs and uncertainty of tariffs, and they've been able to raise prices such that at US$900 a ton it's more than what would happen to price with an actual 25 per cent tariff implemented," Timna Tanners, an analyst at Wolfe Research, said during a telephone interview. "This isn't the desired outcome Trump has articulated." [my emphasis]

Well... of course not. He's a fucking moron, and well earned.