Tariffs Catch-All

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mpaer said:
What a loser
Russia sells Oil-I mean thats what they sell
And they don't need our market
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As I understand it, the proposal is for secondary tariffs, meaning that we would asses punitive tariffs on any country that trades with Russia, like China and India.
 
Calheel said:
As I understand it, the proposal is for secondary tariffs, meaning that we would asses punitive tariffs on any country that trades with Russia, like China and India.
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Thanks
that makes a little sense
 
Calheel said:
As I understand it, the proposal is for secondary tariffs, meaning that we would asses punitive tariffs on any country that trades with Russia, like China and India.
Click to expand...
Yeah, Trump was pretty vague about it. No one seems to know if that is a tariff only on “transshipped” goods (say India buys a widget directly from Russia and then sells the widget to America as a middleman) or on all goods of a country that buys oil from Russia. The difference is substantial. And the 50 days aligns very closely with a planned 60 day assault that Putin reportedly described to Trump on a recent call as necessary to complete ahead of any peace talks.

So it seems Trump is tacitly supporting Russia’s 60-day assault plan but willing to provide defensive weapons (with little use against drones but should help against missiles). Basically going along with Putin’s aim to expand Russian gains along the Ukraine border ahead of a possible ceasefire in September. Note that October and November in Ukraine are a muddy season that slows/limits military advancement action anyway, so it is not clear how much Trump is shifting his policy so much as shifting his rhetoric.

But we’ll see. One thing this accomplished was stalling a bipartisan sanctions bill that was going to pass the Senate.

——

Thune hits brakes on Russia sanctions package​

The Senate bill is now in limbo after President Donald Trump pledged to take action Monday.

 
nycfan said:
Yeah, Trump was pretty vague about it. No one seems to know if that is a tariff only on “transshipped” goods (say India buys a widget directly from Russia and then sells the widget to America as a middleman) or on all goods of a country that buys oil from Russia. The difference is substantial. And the 50 days aligns very closely with a planned 60 day assault that Putin reportedly described to Trump on a recent call as necessary to complete ahead of any peace talks.

So it seems Trump is tacitly supporting Russia’s 60-day assault plan but willing to provide defensive weapons (with little use against drones but should help against missiles). Basically going along with Putin’s aim to expand Russian gains along the Ukraine border ahead of a possible ceasefire in September. Note that October and November in Ukraine are a muddy season that slows/limits military advancement action anyway, so it is not clear how much Trump is shifting his policy so much as shifting his rhetoric.

But we’ll see. One thing this accomplished was stalling a bipartisan sanctions bill that was going to pass the Senate.

——

Thune hits brakes on Russia sanctions package​

The Senate bill is now in limbo after President Donald Trump pledged to take action Monday.

Click to expand...
Trump, vague? No way...
 


Trump announces trade agreement with Indonesia, including 19% tariff​


amp.cnn.com

Trump announces trade agreement with Indonesia, including 19% tariff | CNN Business

President Donald Trump said Tuesday the United States has reached a trade agreement with Indonesia after speaking with the country’s President Prabowo Subianto.
amp.cnn.com amp.cnn.com

“… Before departing the White House to speak at a summit in Pittsburgh, the president said Indonesia is “known for high-quality copper, which we’ll be using.”

That may mean that copper from the country could face lower tariffs, or no tariffs, if Trump proceeds with his threat to levy a 50% tax across all copper importson August 1.

While Indonesia shipped $20 million worth of copper to the US last year, according to US Commerce Department data, that’s far behind top suppliers Chile and Canada, which sent $6 billion and $4 billion worth of the metal to the US last year.

“No tariffs there; they pay tariffs here. Switching the asymmetry our way,” US Commerce Secretary Howard Lutnick said in a CNBC interview on Tuesday.…

Indonesia is America’s 23rd top trading partner, US Commerce Department data from last year shows. The United States imported $28 billion worth of merchandise from there last year. Apparel and footwear were the top two goods Americans bought.

Meanwhile, the US exported $10 billion worth of goods there last year. Oilseeds and grain as well as oil and gas were the top two exports.“

IMG_7954.jpeg

Indonesia was not generally a closed market to the United States. And a lot of its imports are raw materials that feeds their factories to produce goods that return to U.S. and other wealthier markets.
 
Calheel said:
As I understand it, the proposal is for secondary tariffs, meaning that we would asses punitive tariffs on any country that trades with Russia, like China and India.
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I have never heard of secondary tariffs and the concept doesn't make any sense. Countries don't trade with other countries; businesses do.
 
superrific said:
I have never heard of secondary tariffs and the concept doesn't make any sense. Countries don't trade with other countries; businesses do.
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Biden floated the idea and backed off. Of course, none of anything Trump does makes sense, but that is the way it was explained on CNBC yesterday morning.
 
Calheel said:
Biden floated the idea and backed off. Of course, none of anything Trump does makes sense, but that is the way it was explained on CNBC yesterday morning.
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That's what secondary tariffs would mean if they existed. But as far as I can tell, a secondary tariff has never been implemented -- surely in part because it makes no sense at all.

Suppose an Indian company starts buying Russian parts. We're going to slap tariffs on all of India because of that firm? How many firms have to be importing for the secondary tariffs to take effect? Does the government have to know? Does the government have to care? How would we enforce this?

Secondary sanctions punish firms, which can work because it's firms who do business with (or refrain from doing so) Russia. It's a firm-level carrot/stick for firm-level behavior. Secondary tariffs are just stupid. They are so stupid that I keep typing "secondary sanctions" because my fingers apparently think secondary tariffs are too ridiculous even to type.

ChatGPT tells me that Biden never talked about secondary tariffs, which makes sense because he had competent economic advisors.
 
superrific said:
That's what secondary tariffs would mean if they existed. But as far as I can tell, a secondary tariff has never been implemented -- surely in part because it makes no sense at all.

Suppose an Indian company starts buying Russian parts. We're going to slap tariffs on all of India because of that firm? How many firms have to be importing for the secondary tariffs to take effect? Does the government have to know? Does the government have to care? How would we enforce this?

Secondary sanctions punish firms, which can work because it's firms who do business with (or refrain from doing so) Russia. It's a firm-level carrot/stick for firm-level behavior. Secondary tariffs are just stupid. They are so stupid that I keep typing "secondary sanctions" because my fingers apparently think secondary tariffs are too ridiculous even to type.

ChatGPT tells me that Biden never talked about secondary tariffs, which makes sense because he had competent economic advisors.
Click to expand...
Maybe trump could just start a world sales tax with all of the revenues going to the trump foundation, via the United States.

10% on everything sold every where in the world...
 
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