Tariffs Catch-All

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altmin said:
Brown-Forman (parent corp of Jack Daniels) is down 7% today after announcement of European tariffs.
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The bourbon industry was arguably ready for a retraction. This trade war bullshit is going to absolutely wreck it. I know some people in the business (the distilling science side) and they are very worried about how this ends.
 
superrific said:
It ain't just Canadians. The American tourism industry is going to get hammered.

And Las Vegas? I can't imagine casino owners are feeling great right now. Hey waiters and waitresses in Vegas, how are you enjoying your "no taxes on tips"? Oh, right, that was bullshit. Meanwhile, tax on tips not given really doesn't matter.
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The US is again hosting three (3 of 24) F1 races in Vegas, Austin and Miami this year. Piss enough people off (a lot of Europeans) and those could all lose money. I think revenue for the Vegas race last year was north of $700 million.

Correction: the economic impact of the race was almost $1 billion.

www.nytimes.com

F1 is now Las Vegas’ largest annual event, reporting $934m economic impact in Year 2

The total of $934 million is over half a billion dollars down on the estimated economic impact from the first year in Las Vegas.
www.nytimes.com www.nytimes.com
 
BlooVooDoo said:
The US is again hosting three (3 of 24) F1 races in Vegas, Austin and Miami this year. Piss enough people off (a lot of Europeans) and those could all lose money. I think revenue for the Vegas race last year was north of $700 million.
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Is that revenue to Vegas or revenue to F1? I would think that the effect would be larger on more casual trips. For instance, are people going to skip the World Cup because they are pissed at the US? And someone who would travel to an F1 event is probably an enthusiast who might not let temporary frustrations interfere with their hobby.

But that's all intuition. I don't know anything about the relative elasticities of subcategories of the tourism industry.
 
superrific said:
It ain't just Canadians. The American tourism industry is going to get hammered.

And Las Vegas? I can't imagine casino owners are feeling great right now. Hey waiters and waitresses in Vegas, how are you enjoying your "no taxes on tips"? Oh, right, that was bullshit. Meanwhile, tax on tips not given really doesn't matter.
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Watched a segment the other day that provided information showing that no taxes on tips, even if implemented, didn't make any real difference. A better idea is eliminating the sub-minimum wage all together.
 

Walmart Gets an Earful From China Over Response to Trump Tariffs​

Beijing, under economic pressure, seeks to help local factories facing requests to cut prices​



“… Chinese authorities summoned Walmart officials for a dressing-down this week after receiving complaints that the retailer was pressuring some Chinese suppliers to cut prices to absorb the cost of U.S. tariffs, state media and people familiar with the matter said Wednesday.

…
The president’s decision to add a 20% tariff on Chinese imports on top of previous tariffs has put U.S. retailers such as Walmart in a tough spot. Raising prices risks the ire of Trump and American consumers, but getting suppliers to bear the burden isn’t simple either.

China, too, is under pressure as tariffs inflict pain on its export-focused economy, which is grappling with overproduction and weak demand at home. U.S. businesses have been reducing their dependence on China in response to worsening relations, a trend that developed during Trump’s first term and has accelerated since.

Many companies are shifting production to Southeast Asia and elsewhere. For sensitive high-tech goods, some U.S. companies are already pursuing an “anything but China” strategy.

In recent weeks, Walmart and other U.S. retailers have told some suppliers they want discounts on China-made products, according to industry executives. Some suppliers have also been asked to move production outside of China, they say. …”

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Wal-Mart has a long and storied history of squeezing their vendors.
 
As long as Calla and OG are good with all this winning, then I am too. Obviously they know much more than we do about the chess play Trump is masterminding here. Let the good times roll! Weeeeehooooooooooooooooo!
 
I leaned from Rachel Maddow last night that the Republican House inserted language into budget bill, redefining a single day as lasting the end of this session of Congress, applicable solely to the emergency tariff provision Trump is using. This was done when the Democrats brought forth a provision that Congress could override Trump tariffs with vote that must take place with 15 days of said emergency provision. A House vote would have at least put them on record as supporting or opposing the Trump tariffs. Truly feckless and self-serving House republicans. The declared emergency Trump uses, BTW, is thwart fentanyl smuggling.
 
TarSpiel said:
It also means Harley ain't getting that market back.
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Their attraction is so connected to the rugged American outlaw biker thing that anti American sentiment will hurt them there anyway. I don't get that there's much special in terms of technology or performance.
 
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