Tariffs Catch-All

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The U.S. Is Tiptoeing Away From Many of Trump’s Signature Tariffs​

The administration is considering lifting duties on some products not produced in the U.S.​


🎁 —> https://www.wsj.com/politics/policy...6?st=agRgHa&reflink=desktopwebshare_permalink

“… The offer to exempt more products from tariffs reflects a growing sentiment among administration officials that the U.S. should lower levies on goods that it doesn’t domestically produce, say people familiar with administration planning. That notion “has been emerging over time” within the administration, said Everett Eissenstat, deputy director of the National Economic Council in Trump’s first term. “There is definitely that recognition.”

The move comes ahead of a Supreme Court hearing in early November on the reciprocal tariffs—a case that could force the administration to pay back many of the levies if it loses in court. The White House, Commerce Department and U.S. Trade Representative’s office didn’t respond to requests for comment.

The shift on the reciprocal tariffs reflects the Trump team’s desire to hedge its bets should the court strike down its broad levies, according to people familiar with the administration’s thinking. At the same time, Trump’s team is expanding its use of tariffs based on more established legal authority: Section 232 of the Trade Expansion Act of 1962. Trump has already deployed that law to underpin tariffs on metals and automobiles, and this month announced a new tranche of duties aimed at heavy trucks, pharmaceuticals and furniture.…”
 
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“… “The Constitution clearly provides the legislative branch the authority to levy tariffs and taxes, and to spend and appropriate money,” said Sen. Jerry Moran, a Kansas Republican and a top appropriator.

“So while I’m certainly interested in the White House and President Trump’s suggestions, there’s the necessity of Congress acting to implement that suggestion, if that’s the conclusion of Congress.”

… So while Vance said Sunday that the administration would use tariff revenue to pay military salaries during the shutdown, the Office of Management and Budget says troops have been paid by tapping military research and development funding.

The money the Trump administration is using to fund nutrition assistance to low-income moms and babies during the shutdown is not a product of Trump’s new tariffs either, despite Leavitt’s statement earlier this month that it would be funded by income from new “Section 232 tariffs”— i.e. duties on specific industries like copper, automobiles, steel and aluminum.

Instead, the administration is providing a lifeline for the Special Supplemental Nutrition Program for Women, Infants and Children, known commonly as WIC, by pulling money from an account that funds things like school breakfast and lunch programs. Some of the money in that nutrition account comes from import revenue from prior years, as authorized by a 90-year-old law, along with other funding Congress provides each year….”


 
nycfan said:
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Are You Sure Chuck Norris GIF by Sony Pictures Television
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If this is true, then isn’t this policy bizarre?:

Trump Hopes Argentina Can Help Bring Down Meat Prices​

President Trump’s plan to import red meat runs counter to his philosophy of increasing domestic production, and has angered cattle ranchers in the United States.

www.nytimes.com

Trump Hopes Argentina Can Help Bring Down Beef Prices

President Trump’s plan to import red meat runs counter to his philosophy of increasing domestic production, and has angered cattle ranchers in the United States.
www.nytimes.com www.nytimes.com

“… Ground beef prices in the United States have increased by about 15 percent this year, to a record high of nearly $7 per pound. The spike in prices stems from several factors, including hotter weather and the tariffs that Mr. Trump has imposed on key trading partners.

Droughts across parts of the country have forced ranchers to shrink their cattle herds, causing beef prices to increase along with demand for red meat. And beef imports from some countries such as Brazil have started to fall because of steep tariffs on their exports to the United States.

… Buying more beef from Argentina would be the latest economic win for a country that has benefited from Mr. Trump’s presidency, including his trade war. China has started buying more soybeans from Brazil and Argentina instead of the United States, upsetting domestic farmers who have nowhere to sell their crops and have seen prices fall.

Mr. Trump has said that he wants to use revenue from tariffs to support American farmers, but so far he has not introduced an aid plan…”

——
There is a battle here between American ranchers who love the tariffs and believe they finally are getting fair prices reflecting the cost of beef herders, and American consumers gobsmacked by the increase in beef prices as part of a wider reaction to rising grocery and food prices.

But a break for just Argentina while keeping tariffs on other countries is just creating opposing forces on the beef market, which is bizarre “policy” that likely mostly benefits Argentina’s beef producers.
 
nycfan said:
If this is true, then isn’t this policy bizarre?:

Trump Hopes Argentina Can Help Bring Down Meat Prices​

President Trump’s plan to import red meat runs counter to his philosophy of increasing domestic production, and has angered cattle ranchers in the United States.

www.nytimes.com

Trump Hopes Argentina Can Help Bring Down Beef Prices

President Trump’s plan to import red meat runs counter to his philosophy of increasing domestic production, and has angered cattle ranchers in the United States.
www.nytimes.com www.nytimes.com

“… Ground beef prices in the United States have increased by about 15 percent this year, to a record high of nearly $7 per pound. The spike in prices stems from several factors, including hotter weather and the tariffs that Mr. Trump has imposed on key trading partners.

Droughts across parts of the country have forced ranchers to shrink their cattle herds, causing beef prices to increase along with demand for red meat. And beef imports from some countries such as Brazil have started to fall because of steep tariffs on their exports to the United States.

… Buying more beef from Argentina would be the latest economic win for a country that has benefited from Mr. Trump’s presidency, including his trade war. China has started buying more soybeans from Brazil and Argentina instead of the United States, upsetting domestic farmers who have nowhere to sell their crops and have seen prices fall.

Mr. Trump has said that he wants to use revenue from tariffs to support American farmers, but so far he has not introduced an aid plan…”

——
There is a battle here between American ranchers who love the tariffs and believe they finally are getting fair prices reflecting the cost of beef herders, and American consumers gobsmacked by the increase in beef prices as part of a wider reaction to rising grocery and food prices.

But a break for just Argentina while keeping tariffs on other countries is just creating opposing forces on the beef market, which is bizarre “policy” that likely mostly benefits Argentina’s beef producers.
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I love how they talk about how Trump’s tariffs have benefitted a certain country…and it sure as shit isn’t the USA.
 
lawtig02 said:
Bet that Nebraska rancher loves a guy who shits on a golden toilet in his Manhattan penthouse and eats his steaks well done with ketchup telling him how the cattle market works.
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So Trump is attacking cattle ranchers for not being grateful about sending 40 billion dollars to their chief competitor and wanting them to lower the prices on their beef ? I'm guessing more ranchers who are part of his MAGA core base will not be pleased.

However, the collective response may be yes, he is killing us financially but as long as he hates the same people we do we love us some Trump.

 
nycfan said:
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“… The one-minute ad excerpts a 1987 radio addressby Reagan to justify imposing 100 percent tariffson Japanese electronics over a trade dispute over semiconductors.


Reagan’s address warned of the long-term economic perils of tariffs on foreign imports sold to Americans as a protectionist policy and explained they were imposed to sort a particular problem — not to begin a trade war.

“But over the long run, such trade barriers hurt every American, worker and consumer,” Reagan narrates in the ad. “High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. Then the worst happens. Markets shrink and collapse, businesses and industries shut down and millions of people lose their jobs.”

China’s embassy in Washington notably used the same Reagan clip to troll Trump’s global tariffs when the China-U.S. trade war heated up in the spring….”

 
nycfan said:
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They were doing terrible until I got their prices up but they have to understand they have to get their prices down!
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That so many MAGAs are convinced that Trump is/was a "great businessman" is yet another sign of just how gullible and easily fooled they are. His understanding of finances and the business world is about at the same level as Michael Scott on The Office.
 
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