Tariffs Catch-All
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1moretimeagain
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No worries, megacap companies like Nvidia and Apple remain exempt.
Tim Apple presented Trump with a 24 karat gold trophy of some sort today.
Tim Apple presented Trump with a 24 karat gold trophy of some sort today.
superrific
Legend of ZZL
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That semiconductor tariff is the wildest and stupidest thing I've seen in trade policy ever. Different rates for different shipments? Gee, that's not going to be abused. Corruption opportunities abound! And it seems all you have to do to avoid them is "make a commitment" to build in the US. Like Foxconn, I guess.
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Nothing Trump loves more than corruption opportunities.
1moretimeagain
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Anything for an exemption. Stock price is up!
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“It’s a unique unit of one……”
Uh, Tim……did you forget or never know the definition of unique?
Maybe you forgot while you were blowing Trump.
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—> https://www.wsj.com/economy/trade/t...5?st=BFLC2q&reflink=desktopwebshare_permalink
—> https://www.wsj.com/business/autos/...f?st=dwyTsk&reflink=desktopwebshare_permalink“… Beyond the continuing cost of tariffs, automakers in the U.S., Japan, South Korea and Europe face years of retooling and supply-chain tweaks to adjust to the new realities. This comes after they spent heavily to reshape factories for electric vehicles.
The obvious responses to tariffs are to raise prices and move production to the U.S. But both are hard for carmakers to do quickly, potentially saddling them for years to come.…”
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“… The White House has also introduced policies that partly make up for the hit to profits, giving automakers further reasons to prolong the waiting game.
“… Beyond the continuing cost of tariffs, automakers in the U.S., Japan, South Korea and Europe face years of retooling and supply-chain tweaks to adjust to the new realities. This comes after they spent heavily to reshape factories for electric vehicles.
The obvious responses to tariffs are to raise prices and move production to the U.S. But both are hard for carmakers to do quickly, potentially saddling them for years to come.…”
Moves to unwind climate regulations spare Detroit the cost of increasing unprofitable EV sales or buying emissions credits—at the expense of Tesla and Rivian, which profited from selling credits—while giving the industry license to sell as many lucrative pickup trucks as it can. Ford said last week that it had already scaled back its purchases of regulatory credits by $1.5 billion.
… Beyond cutting logistics and tariff costs and hedging currency risks, the business case for building cars locally is about staying close to regulators and consumers, who increasingly want different products in different regions.
EVs, already the mainstream option in China, are growing steadily in Europe while being deprioritized in the U.S. Self-driving vehicles will likely also face different standards globally, said Fabian Brandt, who leads the automotive practice for consultant Oliver Wyman.
“Particularly in the premium market, there used to be something like a global taste: one car that suited buyers around the world,” he said. “I personally believe this is falling apart.””
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ChileG
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Republicans used to screech about government staying out of business and letting market forces drive the economy.
Now they cheer when CEOs have to kiss Trump’s ring so he doesn’t completely trash their companies and send the economy into a death spiral.
What the fuck happened to you guys? Do you have any principles left at all?
Now they cheer when CEOs have to kiss Trump’s ring so he doesn’t completely trash their companies and send the economy into a death spiral.
What the fuck happened to you guys? Do you have any principles left at all?
ChileG
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This pisses me off. The headline should say, “BECAUSE of Trump’s tariffs.”
What principles have they ever had?
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U.S. says Japan has no tariff stacking relief for 15% rate
U.S. President Donald Trump's country-specific tariffs took effect on Thursday, with a White House official saying that Japanese imports will not be given special treatment as Tokyo had believed under a recent bilateral trade deal.
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“(Bloomberg) -- The US has imposed higher tariffs than Japan expected on a broad range of its goods, a senior Japanese ruling party official said Thursday, after a day of confusion over what exactly had been agreed between the two countries.
U.S. says Japan has no tariff stacking relief for 15% rate
U.S. President Donald Trump's country-specific tariffs took effect on Thursday, with a White House official saying that Japanese imports will not be given special treatment as Tokyo had believed under a recent bilateral trade deal.english.kyodonews.net
Japan faces “stacking” tariffs, where a new 15% levy is added to existing import taxes, even though it had expected to be given an exemption stripping out the old tariffs, Liberal Democratic Party policy chief Itsunori Onodera said in Tokyo.
“The tariffs have been imposed with no exemption, so the rate has risen by 15% as it stands,” Onodera said. “We are requesting a prompt correction from the US.”
Fresh confusion over the US-Japan trade deal came to the fore on Thursday, as Japan’s chief negotiator visits Washington to press his counterparts to follow through on a pledge to cut a separate levy on car imports. The disagreement between the two nations over implementing the universal tariffs suggests more misunderstandings and friction may emerge in the future.…”
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As an aside, Japan’s PM was already in trouble after the recent elections. This may force him to resign.
