Tariffs Catch-All

[CFordUNC]

And then there is CFord, uniquely willing and able to lob this type of insult into a discussion about a hedge fund manager complaining about tariffs.

I am not about to take any type of lecture from you about message board etiquette.

 

[Huh?]

I'm waiting for the EU to tariff our services. That's when it'll really get interesting...

 

[superrific]

I am not about to take any type of lecture from you about message board etiquette.

I didn't mean it as a lecture. I meant it as a funny. You and I each have our signature styles and nobody would confuse us, I think.

 

[CFordUNC]

I'm waiting for the EU to tariff our services. That's when it'll really get interesting...

Gonna be hilarious if Trump accepts the EU offer to drop all industrial tariffs, a concession he rejected as part of the TTIP back in 2017. With his attempts to negotiate with Iran after killing the Iran Nuclear Deal and his anger at USMCA, which his administration authored, reversing all his foreign-policy decisions from 8 years ago might end up a trend. Not sure how the calculus differs now as to then.

 

[superrific]

Gonna be hilarious if Trump accepts the EU offer to drop all industrial tariffs, a concession he rejected as part of the TTIP back in 2017.

Great memory. I didn't remember that and I was likely closer to that issue at the time.

 

[CFordUNC]

“Why does @BillAckman act so shocked that Trump is crashing the economy?

Last October, he published a 33-point treatise on the importance of supporting Trump and dared anyone to refute point by point.

So I did.

He said he would post a response but he "had a day job." He never did.

Now, his company has lost a fourth of its value.”

 

[nycfan]

"...A document obtained by Reuters reveals that Europe will impose 25% tariffs on a broad range of American goods, with the first wave set to take effect on May 16, and a second round scheduled for December 1.

The move is a direct response to the Trump administration's earlier decision to slap 25% tariffs on imported steel and aluminum—policies that have already begun to ripple across global markets and strain diplomatic ties. ..."

----
EU is trying to avoid a trade war but has no choice but to respond, however cautiously for now.

 

[nycfan]

Sooooo they are negotiating (case by case)?

 

[1moretimeagain]

So have they settled on the goal being removal of other countries trade barriers, rather than bringing manufacturing back to the US or having tariff proceeds make us rich and remove the need for taxes?

 

[superrific]

Sooooo they are negotiating (case by case)?

So when Japan sends its top team, who is the US going to send? Elon and his kid, like they did to India?

 

[BlueSteel]

Hmm, perhaps there is a master plan.

Tell Cucker Tarlson that he's no longer in media and his new job assignment will be 4th tire installer at Ford from now on—and that he should be grateful—and see how that goes over.

 

[nycfan]

Mike Johnson: We owe Trump the chance to run the economy into a ditch to see if it works

 

[superrific]

Here's how I see this going down:

Trump maintains tariffs
Recession plus stagflation
Republicans in Congress realize they could lose 80 seats unless they stand up to the president.
Sometimes in the fall or winter, Congress gets a 2/3 majority in both houses to rein in Trump's tariff power.

 

[nycfan]

The market has done a midday return to about even for the day after wild swings. We'll see if there is another last 30- minute sell-off or if everyone holds pat for today and waits to see what other news emerges overnight ...

 

[Huh?]

Here's how I see this going down:

Trump maintains tariffs
Recession plus stagflation
Republicans in Congress realize they could lose 80 seats unless they stand up to the president.
Sometimes in the fall or winter, Congress gets a 2/3 majority in both houses to rein in Trump's tariff power.

I would add that we will see the emergence of trading blocs in Europe and Asia that include Canada and Mexico and largely exclude the US.

 

[Calheel]

Mike Johnson: We owe Trump the chance to run the economy into a ditch to see if it works

Mike Johnson: "But I think you gotta give the president the latitude ... the runway to do what it is he was elected to do, and that is get this economy going. Get our trade properly balanced with other countries."

US Constitution, Article I, Section 8: "The Congress shall have Power To ... regulate Commerce with foreign Nations"

 

[superrific]

I would add that we will see the emergence of trading blocs in Europe and Asia that include Canada and Mexico and largely exclude the US.

Maybe. That won't happen any time soon, though. There's a lot more complexity to a trading bloc than meets the eye, and I'm not aware of any free trade alliances that span an ocean. CAFTA and the US-Africa trade agreements are sort of different -- they were more a matter of development policy/foreign aid than inspired by trade per se.

But in terms of informal trade arrangements? Absolutely.

 

[nycfan]

 

[nycfan]

Trump says EU was “formed to really do damage to the United States in trade. … they formed together to create a little bit of a monopoly situation to create a unified force against the United States for trade …”

 

[superrific]

That changes my opinion of the probability of a pause not at all.