Tariffs Catch-All

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altmin said:
Data compiled by Trade Partnership Worldwide shows that the value of U.S. exports that could be subject to tariffs would increase five-fold, from $6 billion (based on the original Trump tariffs) to over $27 billion.
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$6 billion seems like a pretty low number. We export $15 billion worth of soybeans to China. That single product accounts for 2.5 times the value of all US exports to the EU that were subject to tariffs (well, until now). Barely seems like that would be worth worrying about (well, again, until now)...
 
hedge said:
$6 billion seems like a pretty low number. We export $15 billion worth of soybeans to China. That single product accounts for 2.5 times the value of all US exports to the EU that were subject to tariffs (well, until now). Barely seems like that would be worth worrying about (well, again, until now)...
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I suspect that the author of the piece misinterpreted the data. $6B in tariffs is not the value of the goods taxed; it's the cost of the tariffs. $4B of tariffs means that the tariffing country would expect to receive under the status quo (it doesn't consider the substitution effects in the market as a reaction to tariffs).
 
altmin said:

Sales of US goods ‘rapidly dropping’ at Canadian grocery stores​


Canadians are buying fewer products made in the U.S. in an effort to brace for the impact of President Trump’s sweeping tariffs, which are set to cause prices to skyrocket across a range of products.

“American products we are selling as a percentage of our total sales are rapidly dropping,” said Michael Medline, president and CEO of Empire Company Ltd., which is a parent corporation for Canadian food retailers.

“We have heard loud and clear from our customers that they want Canadian products,” he told stakeholders on the company’s third quarter earnings call.

Medline said the company’s 12 percent average in U.S. products is decreasing as a result of consumer buying habits.
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I’m starting to think that Trump isn’t the brilliant negotiator we were told he was by his supporters.
 
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ChileG said:
I’m starting to think Trump is t the brilliant negotiator that we were told by his supporters.
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Yes, yes, but when you “detox” from something you often go through withdrawals, only to emerge healthier and happier :)
 
www.theglobeandmail.com

Empty bus seats plague route to Jays spring training in Florida as Canadian interest in U.S. travel drops

Even though some American businesses haven’t reported seeing a drop in Canadians, tour companies have noticed it immensely
www.theglobeandmail.com www.theglobeandmail.com

One of Rob DeNure’s charter buses arrived in Myrtle Beach, S.C., this week with just three passengers on it.

The owner of DeNure Tours in Lindsay, Ont., said demand for American travel has plummeted since U.S. President Donald Trump won the election, and the only reason the bus set off for Myrtle Beach is because just enough tourists are booked for a return trip to Canada on it.

“There’s been a trend away from U.S. travel since Trump was elected in 2016. This pattern is not new; it’s just accelerated,” said Mr. DeNure, who would usually operate weekly tours from the Toronto-area to Myrtle Beach and more trips to other destinations. Instead, he’s cancelled around 10 trips this year.

“We feel like we’re back in the pandemic where demand has dropped to just zero,” he said.
 
It has begun ... a couple of my vendors have jacked up their prices. We got an email yesterday from one. Because of the China tariffs, their prices will include a 9.96% tariff tax.
 
UNCMSinLS said:
It has begun ... a couple of my vendors have jacked up their prices. We got an email yesterday from one. Because of the China tariffs, their prices will include a 9.96% tariff tax.
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I hope that everyone makes the additional charge completely transparent like this.

I also hope that companies make sure that end consumers understand the cause of the price increase. Print it on the box where everyone can see how wonderful tariffs are.
 
nycfan said:


I mean, one thing you can say for Trump is he was quite persistent with pro-tariff rhetoric on the campaign trail — even as his staff begged him to talk about grocery prices instead. He was less clear about DOGE being an indiscriminate wood chipper but he didn’t make any bones about creating DOGE as an instrument of government cuts to outright destruction (Dept of Education).
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Oh, hell. Of course they voted for this if they supported him. In his first term Trump engaged in a trade war with China that seriously hurt American farmers, and he bailed them out with government giveaways (socialism!) that ended up accounting for a majority of farmer's profits in 2020 and 2021, I do believe. I wonder how many farmers thought he would do the same this time. And yet they voted for him again. Hard to feel much sympathy at this point for any farmer that actually voted for him, as they knew these tariffs were coming. For those who didn't vote for him and are in this mess, though, that's a different story.
 
UNCMSinLS said:
It has begun ... a couple of my vendors have jacked up their prices. We got an email yesterday from one. Because of the China tariffs, their prices will include a 9.96% tariff tax.
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I’ve been shopping lightly used midsized suvs, and have seen a 5-10% increase since December.
 
Mulberry Heel said:
Oh, hell. Of course they voted for this. In his first term Trump engaged in a trade war with China that seriously hurt American farmers, and he bailed them out with government giveaways (socialism!) that ended up accounting for a majority of farmer's profits in 2020 and 2021, I do believe. I wonder how many farmers thought he would do the same this time. And yet they voted for him again. Hard to feel much sympathy at this point for any farmer that actually voted for him, as they knew these tariffs were coming. For those who didn't vote for him and are in this mess, though, that's a different story.
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He’ll buy them off, again.
 
Healing said:
He’ll buy them off, again.
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As long as Musk & DOGE are running the show I suspect he won't, as Musk isn't elected and doesn't give a shit about them or anyone else. If Trump decides losing farmers is too much of a risk he might put his foot down and force Musk to back off and start making payments like he did last time. I just get the sense that Musk right now is drunk with power and his sense of self-importance and isn't going to be inclined to help farmers or anybody else if he can get away with it.
 
UNCMSinLS said:
It has begun ... a couple of my vendors have jacked up their prices. We got an email yesterday from one. Because of the China tariffs, their prices will include a 9.96% tariff tax.
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But look at it this way, Trump says we will be super rich soon because of his tariffs.
In all seriousness, I’m sorry to hear this.
 
Healing said:
I’ve been shopping lightly used midsized suvs, and have seen a 5-10% increase since December.
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Seems to me part of the tariff story that's missed is the impact on Ameican BUSINESSES that sell products produced in one of the targeted countries. Yes, consumers face higher prices but what happens if they just stop buying? I know I'm less inclined to buy with a 10% increase. I'm sure others will be as well. So, the business is then faced with 1) eating the additional cost of the tariffs; 2) adjusting to lower sales levels; or 3) throwing in the damn towel and going out of business. Tariffs - the multidimensional destroyer of an economy.

The particularly ironic/moronic part of the equation is that as sales and tariff revenue fall, the offset for tax cuts for the uber-wealthy lessens. Unless Congress blows up those spending reconciliation guardrails, with substantially less revenue, the only path to welfare tax breaks for the billionaires will be through Social Security, Medicare, Medicaid, Defense spending, and/or a debt default.
 
UNCMSinLS said:
Seems to me part of the tariff story that's missed is the impact on Ameican BUSINESSES that sell products produced in one of the targeted countries. Yes, consumers face higher prices but what happens if they just stop buying? I know I'm less inclined to buy with a 10% increase. I'm sure others will be as well. So, the business is then faced with 1) eating the additional cost of the tariffs; 2) adjusting to lower sales levels; or 3) throwing in the damn towel and going out of business. Tariffs - the multidimensional destroyer of an economy.

The particularly ironic/moronic part of the equation is that as sales and tariff revenue fall, the offset for tax cuts for the uber-wealthy lessens. Unless Congress blows up those spending reconciliation guardrails, with substantially less revenue, the only path to welfare tax breaks for the billionaires will be through Social Security, Medicare, Medicaid, Defense spending, and/or a debt default.
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Unfortunately, you are correct.
 
UNCMSinLS said:
Seems to me part of the tariff story that's missed is the impact on Ameican BUSINESSES that sell products produced in one of the targeted countries. Yes, consumers face higher prices but what happens if they just stop buying? I know I'm less inclined to buy with a 10% increase. I'm sure others will be as well. So, the business is then faced with 1) eating the additional cost of the tariffs; 2) adjusting to lower sales levels; or 3) throwing in the damn towel and going out of business. Tariffs - the multidimensional destroyer of an economy.

The particularly ironic/moronic part of the equation is that as sales and tariff revenue fall, the offset for tax cuts for the uber-wealthy lessens. Unless Congress blows up those spending reconciliation guardrails, with substantially less revenue, the only path to welfare tax breaks for the billionaires will be through Social Security, Medicare, Medicaid, Defense spending, and/or a debt default.
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I don't think that part of the story is missed, though you're right that it doesn't get enough play in the media.

When people say, this will cost a lot of Americans their jobs, that's one of the categories of job losses. Businesses that export good they produce, and importers. Maybe exporters as well, but I don't know if there still are export companies.
 
UNCMSinLS said:
Seems to me part of the tariff story that's missed is the impact on Ameican BUSINESSES that sell products produced in one of the targeted countries. Yes, consumers face higher prices but what happens if they just stop buying? I know I'm less inclined to buy with a 10% increase. I'm sure others will be as well. So, the business is then faced with 1) eating the additional cost of the tariffs; 2) adjusting to lower sales levels; or 3) throwing in the damn towel and going out of business. Tariffs - the multidimensional destroyer of an economy.

The particularly ironic/moronic part of the equation is that as sales and tariff revenue fall, the offset for tax cuts for the uber-wealthy lessens. Unless Congress blows up those spending reconciliation guardrails, with substantially less revenue, the only path to welfare tax breaks for the billionaires will be through Social Security, Medicare, Medicaid, Defense spending, and/or a debt default.
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What business are you in?
 
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