Emergency tariffs of 25% now, 50% tariffs in a week, on all Colombian imports.
Well, let’s see. In 2023, about 27% of unroasted coffee imports were from Colombia. Coffee accounts for 0.2% of CPI weights. Suppose fixed proportions hold in the very short term; then assuming 100% tariff pass through, we get a one time jump in inflation equal to .3 percentage points (on an annualized basis).
What about everyday expenditures? The AIER Everyday Price Index (EPI), which has been discussed here, covers about 37% of the CPI according to this working paper, and focuses on frequently purchased items. Assuming we can blow up the .2% of CPI proportionately to the AIER EPI, then the m/m one time jump in inflation is about 1.34 percentage points (annualized).
For all the people who stressed the import of “everyday” prices over CPI, this is the number for you.
Thanks, Trump!
Off topic – Trump and Iran:
https://www.dropsitenews.com/p/iran-war-neocons-trump
If personnel is policy, then war with Iran is not on the agenda.
Not the first headline suggesting that even Trump knows he was wrong to blow up the Iran oil-for-nukes deal:
https://www.timesofisrael.com/trump-said-set-to-tap-mideast-envoy-steve-witkoff-as-iran-point-man/amp/
The White House released an official briefing paper about the “Columbia Sanctions.”
Where will it end? Which Ivy League school will be next?
This is such an unnecessary Trump hissy fit. President Petro simply objects to transporting Colombians in chains in the cargo hold of military transports like cattle. Flying military jets into the country is an insult to sovereignty. ICE normally charters commercial passenger jets for deportations which are thousands of dollars an hour cheaper to operate than military planes.
It didn’t have to be this way. Petro said he has no objections to treating the deportations humanely as usual with commercial jets. Trump has intentionally used military cargo jets as a naked projection of military power. For Trump, everything is a scripted reality show.
Also worth noting that Colombia accepted 475 deportation flights under the Biden administration, all without a big show. As much as he has tried to pretend, Trump’s deportation flights are nothing new except that he insists that they be with military planes and that Colombians be humiliated with shackles and chains to make him look tough. It’s all a show for the American press which eagerly gobbles it up.
Trump: ““Today’s events make clear to the world that America is respected again.” It’s all a performance.
my coffee bill is going to skyrocket. thanks trump. costs seem to be rising every day.
speaking of costs, I was promised mortgages in the 2% and 3% range. what is the holdup? hey rick stryker, is trump lying to me here, or is he really going to follow through on that mortgage agenda? would love to shave some dollars off that monthly mortgage. he has already had a week plus. what is the holdup? hey econned, any insight on when trump will fulfill this promise? or was it another lie from maga land?
What kind of Perks would tariffs on imports of roses just before Valentine’s Day
The garbage New York Times is boasting of Trump’s great victory over Colombia. It’s all a lie. Petro was demanding that deportations be handled humanely and he won – Trump backed down. No more military cattle cars and shackles for the Trump Show. Colombia will handle the deportations themselves using their own commercial planes. They have been using commercial planes for years under Biden and treating deportees humanely. Petro’s victory over Trump will continue that policy. You can ease your caffeine anxiety — for now.
Trump is a psychopath and the New York Times is his enabler.
US military personnel always get flown around the world in those cattle cars.
Thank for ragging on my rides.
In shackles?
In shackles? Commercial planes are much cheaper to operate than military planes. The standard for years for hundreds of deportation flights are chartered commercial airliners. The only reason to use military planes is to make a big macho show for Trump. The entire point was humiliation. No country wants uninvited military planes flying into their country.
And by the way, lots of military deployments use chartered commercial planes from the major airlines. How do you think they got those hundreds of thousands of soldiers to those two Iraq wars? They use their military planes mostly to carry heavy equipment.
Trump today: “The United States Military just entered the Great State of California and, under Emergency Powers, TURNED ON THE WATER flowing abundantly from the Pacific Northwest, and beyond.”
What the heck! California does not get any water from the Pacific Northwest, let alone from “beyond”. And if the “US Military”, whatever that means, entered California and started doing weird things you would think that Governor Newsom would get wind of it. To the contrary, Trump redirected Marines that were busy assisting in the wildfires to the southern border.
Trump spent months on the campaign trail talking about a imaginary “big faucet” in the Northwest that he is going to turn on. This is all total fantasy. Has Trump been dipping into Musk’s drug stash?
When will the press start talking about this obviously mentally ill person? They just repeat the crazy and look the other way as if its all normal.
Kevin Drum has a good blog post on this farce.
https://jabberwocking.com/colombia-rescinds-its-middle-finger-to-trump/
you blokes have missed that transporting in military aeroplanes is way more expensive than doing it commercial