Tariffs Catch-All

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altmin said:
dickhead doing dick things

www.ctvnews.ca

Trump increases tariff on Canada to 35%, White House says

U.S. President Donald Trump signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said.
www.ctvnews.ca www.ctvnews.ca
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What should not be lost in the this story is that every Republican in congress is complicit in this through the simple fact that they have ceded their constitutional tariff powers to the Executive Branch.
 
Ramrouser said:
Nothing close to 100% of the tariff amounts are being passed onto consumers as a "tax." 10% to 15% tariffs just may be the sweet spot. Yes, higher tariffs could not be absorbed by the companies and would have to be passed to the consumer but that hasn't happened for the most part. Trump's process of using tariffs as economic leverage has worked splendidly. Look at the EU deal.

I've been reading your posts since the first of the year with your economic forecasts:

Where's the recession?
Where's the sharp spike in inflation caused by tariffs?
Where' s the higher gas prices or price of eggs?
Where's the evidence of the world turning away from the US as a trading partner? We're locking down trade deals every day which are beneficial to the US. The rest of the world is coming to us for deals.
Where's the stock market crash?
Where's the economic chaos y'all predicted?
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The stock market figured out the ways of the TACO, if trump goes through with the tariffs, finally, and doesn't cave, we will see how effective they are.

90 deals in 90 days, wasn't that the promise? He's got what, 6? and most of them have been reported to be no better that what we had before.

But hey, I hear the penguins have gathered together and not purchased or shipped anything to the US to avoid the tariffs.

It's been a few months and he's mostly caved on everything, like the reality tv host that he is, we will see if it works out great or not.


I will say, that I do not want things to fail. So, if a year from now we are in a great place, I'll give the administration credit.

But I will always see him for the piece of shit narcissist, scumbag that he is. Hopefully in the future the pubs can find a candidate with good character.
 
CFordUNC said:
I go back-and-forth on whether I want to treat ramrouser with disdain for being purposefully militantly wrong on literally everything that he ever posts, or with deep pity for being irreparably dim. Between his trying to make the argument that Adolf Hitler was left-wing, that Libs of TikTok somehow speaks for the entire liberal movement in America, and now his assertion that inflation and prices of every day goods has not increased as a result of tariffs, I guess I’m going to have to begrudgingly choose the pity route. There’s no way this is an act anymore.
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We only have a small example of who people here are. We have to treat people based on who we are.

He may be a really nice guy other than his love for trump.

I bet Callatoroy is the kind of guy you could have a beer with as long as you didn't talk about politics.

Sort of like my manager, we get along great, we agree to not talk about politics.
 
UNCatTech said:
The problem is that his cult sees this as "Alpha" Male behavior instead of the childish bullshit that it is.
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Yup. Just going to make Canadians boycott things even harder. Once again, I am not an economist, but when your biggest customer is not buying your stuff, that's a bad thing.

They are even replacing "Americanos" at coffee shops with "Canadianos." It's stupid, but people are just tired of his bullshit.

I should take a picture of the discount produce cart next time I am at the super market. Lot's of American fruit on that shelf. Even costco has been replacing American stuff with Canadian/ European products. Things I have bought for years, being swapped out.
 
UNCatTech said:
We only have a small example of who people here are. We have to treat people based on who we are.

He may be a really nice guy other than his love for trump.

I bet Callatoroy is the kind of guy you could have a beer with as long as you didn't talk about politics.

Sort of like my manager, we get along great, we agree to not talk about politics.
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Great points, all, and a much-needed reminder. Thank you. I do need to work a lot harder to be less of a jerk online. It’s the complete opposite of how I aim to carry myself in real life.
 
UNCatTech said:
We only have a small example of who people here are. We have to treat people based on who we are.

He may be a really nice guy other than his love for trump.

I bet Callatoroy is the kind of guy you could have a beer with as long as you didn't talk about politics.

Sort of like my manager, we get along great, we agree to not talk about politics.
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I get along with my trumper friends, family, neighbors, and coworkers. I can have a beer with them, but my son reminds me that trump is a rapist, racist, liar, thief, fascist and criminal whose ignorant, cruel policies will damage the United States for decades. Either they knew that and still support him, or they buried their heads in the sand because they didn't want to know. They can be nice, friendly, charming, and charitable to me and others in their circle, but they aren't good people.

I keep trying to find the flaw in his reasoning, but I haven't, yet.

I always believed in American exceptionalism, even naively and patriotically. I wondered how the people of 1930s Germany could have allowed Hitler to gain so much power, and I *knew* it could never happen here. Well, it's happening here, and my trumper friends, family, neighbors, and coworkers, and our board Pubs are allowing it to happen, and even cheering it on. They are complicit.

I now look at America and Americans much the same as Mahatma Gandhi looked at Christ and Christians. "I like your Christ, I do not like your Christians. Your Christians are so unlike your Christ." Too many Americans (and my friends, family, neighbors, and coworkers) are so unlike the America that I know and love.

tl;dr: I wouldn't tell any of them if I knew where Anne Frank was hiding.
 
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www.nytimes.com

Trump Tariffs Live Updates: White House Announces New Rates for Dozens of Countries

www.nytimes.com www.nytimes.com

“… On Thursday night, the administration released the new rates in an executive order that argued that the U.S. trade deficit was “an unusual and extraordinary threat to the national security and economy of the United States.”

The order also delayed the date when the tariffs will take effect from Aug. 1, as the president had originally planned, until Aug. 7. Goods that are loaded onto ships before the Aug. 7 date and enter the United States before Oct. 5 will also not be subject to the new tariffs, the administration said.

In replacing tariff rates that the United States negotiated with other countries and that have been in place for decades, the president is introducing a trading system of his own imagining, one that is much more protectionist and isolationist than before.…”
 

In a Country Trump Says Nobody’s Heard Of, Tariffs Bring Chaos​

Lesotho has declared a state of disaster due to mass layoffs following the threat of 50% tariffs​


🎁 —> https://www.wsj.com/world/africa/le...6?st=VjrzyR&reflink=desktopwebshare_permalink

“President Trump promised Africa that trade would replace aid when he dismantled America’s foreign-assistance programs soon after taking office this year. But here in one of the world’s poorest countries, his administration is slashing both.

Trump, who publicly disparaged Lesotho as a place “nobody has ever heard of,” threatened the tiny southern African country with 50% tariffs, among the highest ratesproposed for any single nation or territory. The Trump administration ultimately set a 15% tariff on Lesotho late Thursday, but much damage has already occurred to the country’s textile industry. It is uncertain how many buyers will return, leaving thousands of workers in limbo.

Lesotho’s garment exporters were already closing up shop in the face of dwindling orders, while other countries with more diplomatic resources rushed to secure new trade deals with the White House….”
 
nycfan said:

In a Country Trump Says Nobody’s Heard Of, Tariffs Bring Chaos​

Lesotho has declared a state of disaster due to mass layoffs following the threat of 50% tariffs​


🎁 —> https://www.wsj.com/world/africa/le...6?st=VjrzyR&reflink=desktopwebshare_permalink

“President Trump promised Africa that trade would replace aid when he dismantled America’s foreign-assistance programs soon after taking office this year. But here in one of the world’s poorest countries, his administration is slashing both.

Trump, who publicly disparaged Lesotho as a place “nobody has ever heard of,” threatened the tiny southern African country with 50% tariffs, among the highest ratesproposed for any single nation or territory. The Trump administration ultimately set a 15% tariff on Lesotho late Thursday, but much damage has already occurred to the country’s textile industry. It is uncertain how many buyers will return, leaving thousands of workers in limbo.

Lesotho’s garment exporters were already closing up shop in the face of dwindling orders, while other countries with more diplomatic resources rushed to secure new trade deals with the White House….”
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“… Lesotho’s government declared a state of disaster in July as Trump’s looming tariffs devastated the country’s textile industry. The landlocked nation of 2.3 million people has prospered under a 25-year-old American trade program that granted duty-free access to the U.S. market to dozens of African countries.

“We took advantage of the trade concessions, being a small country,” Mokhethi Shelile, Lesotho’s trade minister, told The Wall Street Journal. “I did not expect for that to be a reason to be punished.”

The garment industry is the largest private employer in Lesotho, which has an annual gross domestic product of just $2.3 billion. The U.S. accounts for nearly 20% of Lesotho’s overseas sales, including clothing from brands such as Levi’s and Reebok, and stores such as Walmart. Although the 50% tariffs were paused, orders dried up, production lines shut down and workers were sent home.

…By imposing tariffs, Trump appears to be sidestepping the African Growth and Opportunity Act, which allows 32 African countries to sell some 1,800 products in the U.S. duty-free. The law expires this year, and, with Trump wielding tariffs as the foundation of his international economic policies, most experts don’t expect the Republican-controlled Congress to renew it.

Shelile says a lobbying group that purported to have access to prominent members of Trump’s family asked in a virtual meeting for $1.5 million to campaign for tariff relief. He didn’t identify the lobbyists.…”
 
This is a consumption tax. It is the only reasonable explanation. These tariffs are not targeted at bringing manufacturing back to the USA. A 20% tariff on goods from Bangaladesh isn't going to push ready to wear garment manufacturers to move their garment factories from Bangladesh to LA. It's just going to make ready to wear goods more expensive. The only explanation is that this is a consumption tax and this brand of Trumpism/MAGA/Republicanism will push more consumption taxes over time in an effort to further reduce upper end income taxes. The problem with consumption taxes is that they are regressive and they tend to slow economic growth a lot more than income taxes. Ours is a consumption based economy - it's just really poor strategic thinking.
 
IMG_8435.jpeg

🎁 —> https://www.wsj.com/opinion/donald-...7?st=4hNchv&reflink=desktopwebshare_permalink

“…
The High Court’s Loper Bright (2024) landmark says that judges shouldn’t automatically defer to regulators’ interpretations of vague laws. The Court’s major questions doctrine also holds that Congress must give the President express authority for actions with economic and political significance. Mr. Shumate said neither precedent applies to a President’s power to conduct foreign policy.

But the Constitution gives Congress the power to regulate trade. Congress has delegated to the President limited authorities to impose tariffs that typically entail procedural requirements—for instance, up to 15% for 150 days in response to “large and serious” balance-of-payments deficits (Section 122) and on countries with discriminatory trade practices (Section 301).

As one judge told Mr. Shumate, it seems “you’re asking for unbounded authority” to impose tariffs.

Yes he is.

But as the small business plaintiffs argue, the President isn’t a king, and the Constitution doesn’t let him command the trade tides.“
 
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