Tariffs Catch-All

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“… The newly published version is not a legally enforceable pact, but it is a step toward one.

Its backbone remains unchanged: The United States will maintain a 15 percent tariff on most goods arriving from E.U. member countries, a rate that Mr. Trump officially imposed in an executive order that took effect earlier this month.

In a win for Europe, that rate applies to some of its biggest exports, including pharmaceuticals, many of which will remain taxed at 15 percent even after the United States finalizes an expected set of tariffs for foreign-made medicines that could be as high as 200 percent.

… Cars are more complicated. The United States will not immediately relax for Europe tariffs it has imposed worldwide on foreign-made vehicles, currently set to 27.5 percent for European carmakers. Rather, the two sides agreed that the United States would lower those tariffs to 15 percent only after Europe takes steps to follow through on its commitments to lower tariffs on imported American goods.

Specifically, the bloc must “formally” introduce legislation that would relax duties on industrial goods and agricultural products, including bison, tree nuts, dairy and many types of seafood, before lower car levies will kick in….”
 
In my best Bill Clinton voice....I feel your pain

 
Trump Admin just announced a study on furniture, generally a precuror to tariffs. Of course when Trump announced it, he said there would be tariffs even though the stydy has not begun
 
Dating back to Reagan, the R tax cuts have alwaus blown uo the deficit and increased wealth and income inequality. Reagan in fact had to raise taxes to stop the bleedin.

Trumo's latest will do the same, esp with all the new coro tax credits
. And the tariffs will cause a US and possily global recession in 2026, and Trump will have to refund large pprotions of collected tariffs to farner, small busineses and a pre-2026 dividend to those who got stuck paying the tariffs (middle and working class).

These are the jhighest tariffs in nearly a century. Slow motion train wreck underway IMO. Tech companies can only prop up the economy so long with massive AI spending.
There is the real world and there is the not real Trump Matrix his supporters try to sucker folks with.
 

Overall, export sales (to China) of this fall’s soybean crop are down 81% from the five-year average.
 
High Point and Hickory will rise again
I know you're making a joke, but to be serious it's more likely that these tariffs will just put some American furniture companies out of business and make economic conditions in these former Piedmont and foothills factory towns even worse, if that's possible. In many cases the furniture plants in these NC towns have already been torn down or converted into something else - you'd practically have to build new factories from scratch.
 


The stoppages seem mostly temporary to adapt to the new tariffs on formerly exempt de minimus value packages between $100 & $800, but also to pressure another TACO delay or reversal.

If the elimination of the de minimus tariffs exemption is not reversed, then most packages from much of Europe and Asia will be held at least until after Labor Day while shippers figure out how to implement the tariffs.

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Per the Trump Admin fact sheet, after six months, the above fixed duty option terminates and every package must calculate and pay the tariff based on the value of the item and the tariff applicable to the country of origin. Packages from China and Hong Kong have already been subject to this policy since May.
 
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“… And while the financial costs of tariffs have dominated trade news this summer, in this case, it's not so much the money as the paperwork that's a stumbling block.

… "Key questions remain unresolved," writes DHL Group in a statement, "particularly regarding how and by whom customs duties will be collected in the future, what additional data will be required, and how the data transmission to the U.S. Customs and Border Protection will be carried out.

… In a fact sheet published last month, the White House called "de minimis" treatment a "catastrophic loophole" and a "big scam," arguing that it not only reduces tariff revenue but enables the importation of illicit drugs, because "de minimis" goods also get expedited processing, meaning less oversight of the goods coming in.

… The Biden administration, too, had raised concerns about drugs and unsafe products slipping into the country. Some U.S. companies have also argued that it gives an unfair advantage to foreign manufacturers over American companies by allowing an easy way to bypass tariffs….”
 
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