Tariffs Catch-All

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p5mmr9 said:
It should be noted that while we export about 150 billion in product to China - we export double that amount to both Canada and Mexico (350 billion plus each).
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We used to...

So much winning we don't have time to export...
 
nycfan said:

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs​

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.

www.nytimes.com

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
www.nytimes.com www.nytimes.com


“… Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them from doing business in China or with Chinese companies.

The ministry imposed a licensing system to restrict exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything from electric cars to smart bombs.

The commerce ministry also announced it was beginning two trade investigations into American exports of medical imaging equipment — one of the few manufacturing categories in which the United States remains internationally competitive.

… China’s General Administration of Customs said that it would halt chicken imports from five of America’s biggest exporters of agricultural commodities and sorghum imports from a sixth company.

… China imposed a two-month freeze on shipments of rare earths to Japan in 2010 during a territorial dispute.

The Obama administration responded by calling for the United States to restart its own mining and processing of rare earths, which mostly shut down in the 1990s. But 15 years after the Japan embargo, mining has resumed in the United States but most of the ore is shipped to China for processing into valuable materials, as rare earths refining has proved technically challenging.”
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This will be the best. Prices at Wal-Mart, where 90% of the cult shops, are going to go up dramatically. Good let them understand what they did with their vote.
 
I thought that notorious liberal bastion Axios did good job pointing out just how delusional you have to be to believe Trump knows what he is doing.


"President Trump is betting his presidency on the biggest instant, unilateral, by-choice-not-necessity economic mandate in U.S. history, Jim VandeHei and Mike Allen write in a "Behind the Curtain" column.

Why it matters: He's gambling that generations of politicians, economists, CEOs, small-business owners, academics and even some of his own staffers are wrong — and that he's right.

  • And he's doing it with an issue that hits every American.
For Trump to be right, you gotta believe...

  1. That Trump's instincts are better than the past half-century of his party's judgment, as well as the judgment of the economists who've studied the topic extensively, both historically and contemporaneously.
  2. That Sen. Mitch McConnell (R-Ky.) — the former majority leader, reflecting what the vast majority of Senate Republicans say privately — was wrong when he tweeted: "As I have always warned, tariffs are bad policy, and trade wars with our partners hurt working people most. Tariffs drive up the cost of goods and services. They are a tax on everyday working Americans."
  3. That a minimum 10% increase in taxes on all imports — and much higher taxes on goods that come from China, Vietnam and other leading trade partners — won't meaningfully increase prices for most Americans.
  4. That U.S. companies will be able to make the same products just as cheaply — and right away.
  5. That allies and adversaries hit with big tariffs will just suck it up rather than retaliate, or that they'll move en masse to negotiate new trade deals favorable to the U.S.
  6. That American influence and power overseas won't diminish when those same allies start doing more business with each other — or China.
  7. That Canadian Prime Minister Mark Carney was wrong when he said: "Our old relationship of steadily deepening integration with the United States is over. The 80-year period when the United States embraced the mantle of global economic leadership ... is over. While this is a tragedy, it is also the new reality."
  8. That the U.S. stock market and economic growth will rise again amid a global trade war of choice.
  9. That recession forecasts by major financial institutions are wrong. And that the Dow, S&P and NASDAQ (U.S. stocks off $3 trillionyesterday — the biggest one-day drop since March 2020) are all wrong — or wildly overreacting."
 
This shit is depressing.

I'm 56 years old and was well on track to retire by 60. I don't see how we can recover from the orange turd in the next few years.

It would be nice if the Republicans had the country in their best interest and used the 25th amendment to save the country, but we know that's not happening.
 
farce© said:
I thought that notorious liberal bastion Axios did good job pointing out just how delusional you have to be to believe Trump knows what he is doing.


"President Trump is betting his presidency on the biggest instant, unilateral, by-choice-not-necessity economic mandate in U.S. history, Jim VandeHei and Mike Allen write in a "Behind the Curtain" column.

Why it matters: He's gambling that generations of politicians, economists, CEOs, small-business owners, academics and even some of his own staffers are wrong — and that he's right.

  • And he's doing it with an issue that hits every American.
For Trump to be right, you gotta believe...

  1. That Trump's instincts are better than the past half-century of his party's judgment, as well as the judgment of the economists who've studied the topic extensively, both historically and contemporaneously.
  2. That Sen. Mitch McConnell (R-Ky.) — the former majority leader, reflecting what the vast majority of Senate Republicans say privately — was wrong when he tweeted: "As I have always warned, tariffs are bad policy, and trade wars with our partners hurt working people most. Tariffs drive up the cost of goods and services. They are a tax on everyday working Americans."
  3. That a minimum 10% increase in taxes on all imports — and much higher taxes on goods that come from China, Vietnam and other leading trade partners — won't meaningfully increase prices for most Americans.
  4. That U.S. companies will be able to make the same products just as cheaply — and right away.
  5. That allies and adversaries hit with big tariffs will just suck it up rather than retaliate, or that they'll move en masse to negotiate new trade deals favorable to the U.S.
  6. That American influence and power overseas won't diminish when those same allies start doing more business with each other — or China.
  7. That Canadian Prime Minister Mark Carney was wrong when he said: "Our old relationship of steadily deepening integration with the United States is over. The 80-year period when the United States embraced the mantle of global economic leadership ... is over. While this is a tragedy, it is also the new reality."
  8. That the U.S. stock market and economic growth will rise again amid a global trade war of choice.
  9. That recession forecasts by major financial institutions are wrong. And that the Dow, S&P and NASDAQ (U.S. stocks off $3 trillionyesterday — the biggest one-day drop since March 2020) are all wrong — or wildly overreacting."
Click to expand...
Part of the issue, because so many voters are having to work two or three jobs don't have the time or desire to know that number seven was true.
 
UNCatTech said:
This shit is depressing.

I'm 56 years old and was well on track to retire by 60. I don't see how we can recover from the orange turd in the next few years.

It would be nice if the Republicans had the country in their best interest and used the 25th amendment to save the country, but we know that's not happening.
Click to expand...
It would be great if all Republicans had the country in their best interests and never voted for this cruel, dumb, and deceitful administration.
 


Trump team calls Miller the Prime Minister (or just the PM) due to his power inside the administration and influence with Trump. It showed up in the Signalgate chat when he clearly was understood to speak for Trump and shut down that debate. And it shows here in this gate crashing lecture.
 
ChileG said:
And botching it.
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I’ve seen a few justifying this saying it’s a last ditch effort to save America. Bring back manufacturing, DOGE getting the debt under control. True belief that this is all some master plan and that Trump is trying to save us.
 
nycfan said:


Trump team calls Miller the Prime Minister (or just the PM) due to his power inside the administration and influence with Trump. It showed up in the Signalgate chat when he clearly was understood to speak for Trump and shut down that debate. And it shows here in this gate crashing lecture.
Click to expand...

They might as well just start calling him President Miller. As Trump continues to decline, it will be the people with the most influence with him running the show, even more so than now.
 


The first Trump Administration caused a lot of US companies to relocate manufacturing to Vietnam (46%) to avoid the first term tariffs on China. Now the second Trump Administration is hammering Vietnam with tariffs because of a trade deficit created by the first Trump Administration.

Anyway, the Trump tariff on Vietnam VASTLY overstates the tariffs on U.S. goods charged by Vietnam, basing the tariff instead on the trade deficit. A ton of electrical spare parts, sneakers, toys and furnishings are manufactured for US-based companies and imported to America are made in Vietnam, so this particular tariff is one that hurts U.S. based companies and U.S. consumers pretty directly.

Background on actual tariffs in Vietnam:

www.vietnam-briefing.com

Understanding the US Tariff List: Implications for Vietnam

As the US plans to impose a 46% tariff rate on Vietnam’s imports, we provide preliminary evaluations of the tariff plan's impact.
www.vietnam-briefing.com www.vietnam-briefing.com
 
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