Tariffs Catch-All

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Silence Dogood said:
Do you think their would be any employment opportunities if foreign companies manufactured in America?
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Unlikely, unless the cost structure became so warped that companies - foreign or otherwise - had no choice.

In this scenario, we would have a mix of reduced inventory, imported products at significantly higher prices, and some factories choosing to manufacture in the USA (mainly automated manufacturing). The actual impact on employment regardless will be low while the impact/drag on GDP will be significant. Ours is a consumer based economy and changing that would require a reduction of the poverty level mixed with an environment where our labor pool is more attractive to companies instead of a developing nation's labor pool...a really dreadful thought experiment.
 
Silence Dogood said:
Why are other countries allowed to have higher tariffs on our goods than we do for theirs?
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This accomplishes two important, overlooked objectives:
1. The Dollar remains the gold standard currency on the planet
2. Dollars leaving the US are a relief valve on inflation

Trade is our foreign aid making it generally unprofitable to commit war. The Ruble was crashing until Trump came to the rescue.

Not only do the tariffs potentially wreck the US economy, which had been finally on steady ground but it gives China and its formerly sagging economy a lifeline and a path toward world domination.
 
p5mmr9 said:
It can even be more catastrophic...as US trade deficits diminish - the incentive to utilize the US Dollar as the global reserve currency declines. This is the waning of American economic, military, and cultural power. It's hard to overstate how destructive our current path is.
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Scare tactics! Hyundai motors is investing in a steel plant in Louisiana, Taiwanese chipmaker TSMC is set to invest $100 billion in a U.S.-based semiconductor plant. Israel announced the cancelation of all remaining tariffs, Vietnam has outlined plans to reduce tariffs on several US products , including liquefied natural gas (LNG), automobiles, and ethanol. The tariff on American LNG will decrease from 5% to 2%, on cars from a range of 45%-64% to 32%, and on ethanol from 10% to 5%. These measures aim to lower Vietnam’s trade surplus with the U.S. and avoid potential U.S. tariffs. India is considering cutting tariffs on over half of U.S. imports, valued at $23 billion, to protect its $66 billion in exports from impending U.S. reciprocal tariffs. Negotiations are underway, with India indicating a willingness to significantly lower or entirely remove tariffs on many U.S. goods, contingent on the U.S. providing relief from the reciprocal tariffs.
 
Silence Dogood said:
Why are other countries allowed to have higher tariffs on our goods than we do for theirs?
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Their citizens are harmed by these isolationist barriers.

Example - You can't buy the latest iPhone in Indonesia because their government has been haggling with Apple over investment in their country for the past year. Who benefits from this type of situation? Certainly not Indonesians. But that said - most Indonesians can't afford iPhones and the ones that can go to Singapore to buy them. So, instead of reaping sale tax on these iPhones - Indonesia gets nothing. Tariffs and trade barriers are harmful to all economies.
 
p5mmr9 said:
Unlikely, unless the cost structure became so warped that companies - foreign or otherwise - had no choice.

In this scenario, we would have a mix of reduced inventory, imported products at significantly higher prices, and some factories choosing to manufacture in the USA (mainly automated manufacturing). The actual impact on employment regardless will be low while the impact/drag on GDP will be significant. Ours is a consumer based economy and changing that would require a reduction of the poverty level mixed with an environment where our labor pool is more attractive to companies instead of a developing nation's labor pool...a really dreadful thought experiment.
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Automation will be enhanced and people will lose more jobs, in addition to the recession and tariff-related job losses.
 
p5mmr9 said:
Unlikely, unless the cost structure became so warped that companies - foreign or otherwise - had no choice.

In this scenario, we would have a mix of reduced inventory, imported products at significantly higher prices, and some factories choosing to manufacture in the USA (mainly automated manufacturing). The actual impact on employment regardless will be low while the impact/drag on GDP will be significant. Ours is a consumer based economy and changing that would require a reduction of the poverty level mixed with an environment where our labor pool is more attractive to companies instead of a developing nation's labor pool...a really dreadful thought experiment.
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So whats the solution? Other countries continue ripping the US off?
We don't need other countries to flourish, they would have to lower their prices.
 
Silence Dogood said:
Scare tactics! Hyundai motors is investing in a steel plant in Louisiana, Taiwanese chipmaker TSMC is set to invest $100 billion in a U.S.-based semiconductor plant. Israel announced the cancelation of all remaining tariffs, Vietnam has outlined plans to reduce tariffs on several US products , including liquefied natural gas (LNG), automobiles, and ethanol. The tariff on American LNG will decrease from 5% to 2%, on cars from a range of 45%-64% to 32%, and on ethanol from 10% to 5%. These measures aim to lower Vietnam’s trade surplus with the U.S. and avoid potential U.S. tariffs. India is considering cutting tariffs on over half of U.S. imports, valued at $23 billion, to protect its $66 billion in exports from impending U.S. reciprocal tariffs. Negotiations are underway, with India indicating a willingness to significantly lower or entirely remove tariffs on many U.S. goods, contingent on the U.S. providing relief from the reciprocal tariffs.
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A. Trump has this tendency to LIE!
B. Hyundai Steel is billions of $$ in debt.

It's another pile of stinking bullsh*t from Mango Duce.
 
Silence Dogood said:
Scare tactics! Hyundai motors is investing in a steel plant in Louisiana, Taiwanese chipmaker TSMC is set to invest $100 billion in a U.S.-based semiconductor plant. Israel announced the cancelation of all remaining tariffs, Vietnam has outlined plans to reduce tariffs on several US products , including liquefied natural gas (LNG), automobiles, and ethanol. The tariff on American LNG will decrease from 5% to 2%, on cars from a range of 45%-64% to 32%, and on ethanol from 10% to 5%. These measures aim to lower Vietnam’s trade surplus with the U.S. and avoid potential U.S. tariffs. India is considering cutting tariffs on over half of U.S. imports, valued at $23 billion, to protect its $66 billion in exports from impending U.S. reciprocal tariffs. Negotiations are underway, with India indicating a willingness to significantly lower or entirely remove tariffs on many U.S. goods, contingent on the U.S. providing relief from the reciprocal tariffs.
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Scare tactics? I'm just saying where this can lead. I hope very much this gambit works because I'd rather see our economy flourish than have the whole world crash around us. I work in the import industry and so I can see first hand what has happened, what is happening, and with a fair degree of certainty what will happen assuming we stay on our current course.
 
Silence Dogood said:
So whats the solution? Other countries continue ripping the US off?
We don't need other countries to flourish, they would have to lower their prices.
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No one is "ripping the US off" - this assumes trade is a zero sum game. If you buy something from someone do you think they are ripping you off? When you go to Costco and buy a steak but Costco doesn't buy anything from you - is Costco ripping you off?
 
p5mmr9 said:
Scare tactics? I'm just saying where this can lead. I hope very much this gambit works because I'd rather see our economy flourish than have the whole world crash around us. I work in the import industry and so I can see first hand what has happened, what is happening, and with a fair degree of certainty what will happen assuming we stay on our current course.
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The current course is America getting ripped off for decades and buying foreign made goods
 
For those that don't know, Donaldsonville, LA is the site of the Sunshine Bridge the aka "Bridge to Nowhere."

There's very little infrastructure and education. One stoplight and a Walmart. The Mississippi River is polluted, The area is the Cancer Corridor between Baton Rouge and New Orleans. Good luck with that.
 
Silence Dogood said:
Oh ok, 😏
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I realize you saw this on FNC. Trump is a carpetbagger. 150 years after the initial wave of carpetbaggers it's embarassing to see Southerners gaslighted again. The clown circus came to town. This time the guardrails and adults in the room are absent. God help us all.

I just parked my retirement in money market funds. Sittin' on the cash for now.
 
The President of the USA does not understand global trade. He also wants to cut taxes for himself, his family, and his wealthy donors. And he knows deficit hawks will not pass his tax cuts without additional revenue and significant federal budget cuts. This is how we end up with massive tariffs and DOGE. If you think "he is doing this for me" - you are probably wrong.
 
Silence Dogood said:
The current course is America getting ripped off for decades and buying foreign made goods
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From 1992-2000, we averaged about 2.3% inflation/annum. Free trade made it happen. BTW, opposition to free trade and pro-tariffs is a lame far leftist idea from the 1960s. The advantage of olds - I've seen it all.

 
Tariffs will spur another wave of automation...why jobs had been lost. Not NAFTA, which was renegotiated. Trump probably forgot that he signed the bill from Congress in 2020. lol

www.csis.org

Do Not Blame Trade for the Decline in Manufacturing Jobs

A new white paper from the CSIS Scholl Chair explores the reasons behind the decline in manufacturing jobs. What have been the impacts of trade and increased productivity? How might these trends impact the way we approach craft trade policy? Stephen Rose explores.
www.csis.org www.csis.org
 
p5mmr9 said:
No one is "ripping the US off" - this assumes trade is a zero sum game. If you buy something from someone do you think they are ripping you off? When you go to Costco and buy a steak but Costco doesn't buy anything from you - is Costco ripping you off?
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Terrible analogy
 
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