Economic Anxiety II: Electric Boogaloo

 JMM notices:

Good way to see the current tariffs, as of literally today, is no tariffs on high value [and] manufactured goods marketed to middle and upper middle classes. Massive tariffs for cheap consumer items which amount to the biggest economic privilege of working class/middle class life in US.

And a little clarity (sans charts):

Here's an updated look at all Trump's 2nd-term tariffs, accounting for today's exemption for phones & computers

The overall US tariff rate is now 25%, down from 29% pre-exemption but still 10x what it was before Trump took office (1/3)

Accounting for the exemptions on phones & computers, US tariffs on China are now 111%, down from 134% pre-exemption. Yet that is also still 10x what it was before Trump took office (2/3)

Today's exemptions caused the tariff rate on computers to drop from 41% to 5% & the rate on phones to drop from 65% to 10%

Cars remain the largest tariff-affected import, with goods made primarily in China (batteries, toys, game consoles) being hit with the highest tariffs (3/3)

That last category is what most of us will be buying, and noticing becoming much more expensive. Xmas is still screwed. But if you’re in the market for a new cellphone or computer…rejoice!

I don’t think the bond market is going to dance a giddy dance, however.