Tariffs Catch-All

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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
 
www.theguardian.com

Global economy will ‘massively suffer’ from Donald Trump tariffs, Ursula von der Leyen warns – Europe live

European Commission president hopes to move from confrontation to negotiation after Trump attack on ‘pathetic’ EU
www.theguardian.com www.theguardian.com
European Commission president Ursula von der Leyen warned of “dire consequences” for millions of people, as she said tariffs would “hurt consumers around the world.”

She said there was “no clear path through the complexity and chaos that is being created as all US trading partners are hit,” but she insisted the EU’s unity “is our strength” and the bloc would be prepared to respond with calibrated countermeasures.

Outgoing German economy minister Robert Habeck stressed the need for a united EU response, saying the bloc should leverage the fact it has the largest single market in the world.

“Europe’s strength is our strength,” he said, adding he hoped for “a negotiated solution.”

Italian prime minister Giorgia Meloni called the introduction of US tariffs “wrong” as she vowed to “do everything we can to work towards an agreement with the United States, with the aim of avoiding a trade war that would inevitably weaken the West in favor of other global players.”

“In any case, as always, we will act in the interest of Italy and its economy, also by discussing with other European partners,” she added.

Swedish prime minister Ulf Kristersson said he “deeply regreted” the US decision, saying “we don’t want growing trade barriers” as he lauded the benefits of free trade.

But he said the government was ready to respond and work with the EU to “take every opportunity to reverse these developments.”

“We want to find our way back to the path of trade and cooperation together with the US,” he stressed.

Irish prime minister Micheál Martin said that tariffs “benefit no one,” as he warned they are “bad for the world economy, they hurt people [and] businesses.”

“My priority, and that of the government, is to protect Irish jobs and the Irish economy, and we will work with our companies … to navigate the period ahead,” he said.

He said he would work with EU partners to “get on a negotiation with the US to limit the damage.”

Martin also highlighted “the added value and the strength that Ireland has given to so many US companies” based there.

Polish prime minister Donald Tusk posted a brief update on social media, saying: “Friendship means partnership. Partnership means really and truly reciprocal tariffs. Adequate decisions are needed.”

Finnish prime minister Petteri Orpo said the tariff decisions were “concerning,” as he warned “there are no winners in a trade war.”

“Businesses, consumers, and economic growth suffer. The EU is ready to respond and negotiate. We support this effort. Finland is prepared as part of the Union,” he said.
 

www.theguardian.com

European stock markets join global sell-off, as Trump tariff announcement hurts US dollar – business live

Ursula von der Leyen says tariffs a ‘major blow’ to world economy after US President Trump targets allies on what he dubbed ‘liberation day’
www.theguardian.com www.theguardian.com

Pound hits $1.31 as dollar weakens​

With the dollar sliding on the international markets, the British pound has hit its highest since last October.

Sterling has gained almost one cent so far today, touching $1.31 for the first time since last October.

The euro is up almost a cent too, at $1.095, as the dollar suffers a post-Liberation Day hangover.



...

Stocks dived after the announcement, with technology shares particularly hard hit, while the price of gold hit a record high as investors scrambled for safety. Japan’s Nikkei was down 2.8% on opening, Hong Kong’s Hang Seng Index slid 1.6%, South Korea’s Kospi fell 2% and Australian shares fell 2%.
 
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