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Not a fan of him, but some Americans trying to learn who is the Marcos Jr. running the house right now.
(lemmy.world)
The orange bastard thinks Junior is one and the same, except Junior is more of a Marcos family nerd of sorts, while his sister Imee is now also his archenemy and allied to Duterte, and happens to inherit much more of her father's egomania.
Nonetheless, they are both successful beneficiaries of mass disinformation and hatred. The thing is, however, in terms of political stability the Philippines now seems a lot milder compared to the mounting ongoing oppression in the US.
source: https://bsky.app/profile/nycsouthpaw.bsky.social/post/3luob4ojgr22n
Isn't he saying we pay 19% on Phillipine goods while they pay 0% on American goods?
I think he is saying that America pays 0% tax to Philippines while they in return pay 19% tax for all American goods.
Yeah, but that's just him saying the Philippines pays for the Tariffs, which is false. He set a 19% Tariff on goods bought by U.S. companies for products coming from the Philippines.
Hypothetical: So if McDonald's buys potatoes from the Philippines for $1.
They pay $1.19. 19 cents to the treasury of the U.S., $1 to the Philippines company they bought from.
So then McDonald's sells those products and recooperates the cost, by selling the fries to us for more, to make up the 19 cents lost.
It hurts the Philippines by making it more expensive to buy from them, it hurts us by our costs going up. The idea is that maybe it will be cheaper to get the potatos here in the U.S. instead.. but it would still cost higher than $1.19 to get them here, so they would still buy them from there..and pay more
Aka hidden tax for the Common Folk of America
๐ฅณ stable genius
/s