Tariffs Catch-All

[StrangePackage]

Other than the fact that any user can modify it?

Link me to literally any article that you believe contains misinformation.

 

[UNCatTech]

I wouldn't say I trust him. He's a pathological liar. I'd say I support his attempt, if it's authentic, to correct any "wrongs".

How can you know if a pathological liar is authentic?

 

[ZenMode]

I agree.
I just haven’t yet seen anyone from the administration articulate what exactly are the wrongs being perpetrated against us. I suspect there is a very good reason for that (because there aren’t any).

Presumably, it was the reciprocal tariffs he rolled out on April 2, right?

 

[superrific]

Treasury Department reports that customs duties revenue for April totaled 16.3 B as compared to 7.1 B last April.

It won’t solve the debt problem alone but it’s a start.

16.3B a month is a start in the same way that scoring a TD down 49 is starting a comeback.

An increase of $10B a month = $120B a year. Meanwhile, the loss of tax revenue from the recession will be far higher than $120B. So we are losing money on the tariffs. A lot of money.

 

[superrific]

My guess is our annual budget deficit will increase this year, despite all the hoopla.

It almost certainly will, because spending isn't down and tax revenue will be.

If a recession hits, tax revenue will utterly plunge. Meanwhile, the GOP is already out there breaking the budget.

 

[superrific]

Exactly, they were over ordering to get ahead of the stupid taxes.

Just wait, it will go back down below normal levels. I'm sure that on the year we end up negative, well unless China Rolls trump in the negotiations.

End up negative how?

We will likely pull in more tariff revenue than last year. A little bit. Probably $50B or so. Not enough to move the needle at all. And that's before accounting for the wallop to income tax receipts

 

[superrific]

Other than the fact that any user can modify it?

So have there been 8 multilateral rounds of GATT negotiation or not? This is a simple question. Since you don't trust the link I gave you, tell me how many rounds of multilateral negotiations there have been under GATT.

 

[BlueSmoke]

Trump wants to have tariffs elevated long enough so he can have that factored in the budget talks. Once, he gets past that, then all bets are off.

 

[BlooVooDoo]

There are a ton of Japanese made cars being sold in the US and virtually no US made cars being sold in Japan.

Just now seeing this post and in addition to the the barrage of responses pointing out the glaringly obvious flaw in your argument - re: manufacturing to suit market demand- that I’m sure have followed, I’ll point out that there actually aren’t that many Japanese cars imported to the US. Honda, Toyota, Nissan, Mazda and Subaru build a majority of their cars sold in the US in the US, Canada or Mexico. The exceptions are typically low volume models (Supra, GT-R, Miata, Land Cruiser) or high performance trims of common models (Civic Type R, Corolla GR, Impreza WRX).

I drove a Japanese car in HS. It was built in Marysville Ohio, 42 years ago (‘83 Accord hatchback), and virtually every Accord sold in the US since 1982 (more than 12 million) was built there.

 

[Duke Mu]

The Ultimate Bait and Switch of Trump’s Tariffs

How to understand the phony trade deals with Britain and China

www.theatlantic.com

 

[ChileG]

Presumably, it was the reciprocal tariffs he rolled out on April 2, right?

Trump’s Reciprocal Tariff Calculations Are Nonsense, Will Punish Mutually Beneficial Trade

If you tax trade, you get less of it—both imports and exports alike. Even a less-flawed version of Trump’s tariff plan would be unlikely to achieve its goals.

taxfoundation.org

You mean the ones they calculated using trade deficits? The ones that (for example) put a 10% tariff on Singapore, a free-trade country?

 

[UNCatTech]

End up negative how?

We will likely pull in more tariff revenue than last year. A little bit. Probably $50B or so. Not enough to move the needle at all. And that's before accounting for the wallop to income tax receipts

From what I've read, those who over purchased will simply purchase less until inventories are balanced. So the extra tariff revenues will not remain constant.

When I said negative, I didn't mean dollar wise. I just meant the current positive news would not be maintained.

 

[heelinhell]

Was it the "Art of the Deal" or the "Fart of the Deal" ...?

(Bloomberg) — Xi Jinping’s decision to stand his ground against Donald Trump could hardly have gone any better for the Chinese leader.
“This is arguably the best outcome that China could have hoped for — the US backed down,” said Trey McArver, co-founder of research firm Trivium China. “Going forward, this will make the Chinese side confident that they have leverage over the US in any negotiations.”

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finance.yahoo.com

 

[Mulberry Heel]

Was it the "Art of the Deal" or the "Fart of the Deal" ...?

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finance.yahoo.com

I love how his cult honestly believes that he's a great dealmaker and negotiator, but the bestselling book that helped create that legend - "The Art of the Deal" - was written by a ghostwriter who traveled with Trump for several months while he, not Trump, wrote the book. My guess is that the great negotiator never even read his own book. And to top it off the ghostwriter in 2016 went to the news media and told anyone who would listen that in his opinion, and after close observation, Trump wasn't qualified or fit to be POTUS.

 

[WaynetheDrain]

Trump is a global laughingstock.

 

[UNCatTech]

I love how his cult honestly believes that he's a great dealmaker and negotiator, but the bestselling book that helped create that legend - "The Art of the Deal" - was written by a ghostwriter who traveled with Trump for several months while he, not Trump, wrote the book. My guess is that the great negotiator never even read his own book. And to top it off the ghostwriter in 2016 went to the news media and told anyone who would listen that in his opinion, and after close observation, Trump wasn't qualified or fit to be POTUS.

It's required reading at fox news, well at least the title.

Damn phone.

 

[ZenMode]

So have there been 8 multilateral rounds of GATT negotiation or not? This is a simple question. Since you don't trust the link I gave you, tell me how many rounds of multilateral negotiations there have been under GATT.

Like I said, I'm not saying that there haven't been attempts to adjust tariffs, I'm saying I don't trust Wikipedia for anything. I don't trust the bureaucrats, Even if they've tried 50 times, to adjust them correctly, especially when you're talking about poorer countries.

 

[ZenMode]

What does the US-UK deal mean for Trump’s trade agenda?​

The U.K.’s relative success in avoiding the full fury of U.S. trade levies points to a potentially viable strategy for other U.S. negotiating partners​

What does the US-UK deal mean for Trump's trade agenda?

A closer look at the U.S.-U.K. trade reveals the arrangement to be limited and selective, but mostly generates more questions.

www.brookings.edu

 

[Centerpiece]

My questions: At what levels were the trade deals with UK and China BEFORE all the trump BS? What were the reciprocal tariffs at that point in time? And what are they now? In other words, what did everybody "net" in the end? Will trump and the U.S. actually come out better at the end of it all, or will it be more of a quid pro quo and we all get "something for something" but in reality it's a net zero? Or, did trump get screwed and he started all this shit for no reason and we wind up worse off than before??? With manufacturing staying off-shore and goods and services costing US consumers more, in the end. I will not be surprised if it's the latter.

One thing is for certain - trump and his rich buddies made out like bandits with the stock market's wild fluctuations. AND we lost our standing in the World as being a leader in terms of security, NATO, U.N., etc. etc. (A lot of which was the B.S. about Canada and Greenland/Denmark, but I digress)

 

[farce©]

Like I said, I'm not saying that there haven't been attempts to adjust tariffs, I'm saying I don't trust Wikipedia for anything. I don't trust the bureaucrats, Even if they've tried 50 times, to adjust them correctly, especially when you're talking about poorer countries.

By “bureaucrats” you mean people who have spent years learning the intricacies of the global trade system and who know a hell of a lot more than you or I. I believe the proper term for these people would be “experts.” But you just keep on using your purposeful slander…your “independent thinking” repeatedly shows us your ignorance.