Trump / Musk (other than DOGE) Omnibus Thread

  • Thread starter Thread starter nycfan
  • Start date Start date
  • Replies: 12K
  • Views: 324K
  • Politics 

“…
Howard Lutnick, the president’s nominee for commerce secretary, and Jamieson Greer, his pick for trade representative, will come up with the numbers “quickly,” in concert with other advisers, a White House official, who did not have permission to speak for attribution, said in a call with reporters on Thursday.

The decision to rework the tariffs that America charges on imported goods would represent a dramatic overhaul of the global trading system. For decades, the United States has set its tariff levels through negotiations at international trade bodies like the World Trade Organization. Setting new levies — likely to be higher than what the United States charges today — would effectively scrap that system in favor of one determined solely by U.S. officials and based on their own criteria.

Timothy Brightbill, a lawyer at Wiley Rein, said a move toward a reciprocity-based tariff system would be “a fundamental change to U.S. trade policy, and among the biggest in more than 75 years — since the creation of the current multilateral trading system” in 1947.

The action seems likely to kick off intense negotiations with governments whose economies depend on exports to the United States. It could also elicit trade wars on multiple fronts if other countries choose to increase their own tariffs in retaliation. …”

1-2-3-4 I declare a trade war!

thumbs thumb war GIF
 
nycfan said:

“…
Howard Lutnick, the president’s nominee for commerce secretary, and Jamieson Greer, his pick for trade representative, will come up with the numbers “quickly,” in concert with other advisers, a White House official, who did not have permission to speak for attribution, said in a call with reporters on Thursday.

The decision to rework the tariffs that America charges on imported goods would represent a dramatic overhaul of the global trading system. For decades, the United States has set its tariff levels through negotiations at international trade bodies like the World Trade Organization. Setting new levies — likely to be higher than what the United States charges today — would effectively scrap that system in favor of one determined solely by U.S. officials and based on their own criteria.

Timothy Brightbill, a lawyer at Wiley Rein, said a move toward a reciprocity-based tariff system would be “a fundamental change to U.S. trade policy, and among the biggest in more than 75 years — since the creation of the current multilateral trading system” in 1947.

The action seems likely to kick off intense negotiations with governments whose economies depend on exports to the United States. It could also elicit trade wars on multiple fronts if other countries choose to increase their own tariffs in retaliation. …”

1-2-3-4 I declare a trade war!

thumbs thumb war GIF
Click to expand...

“… Mr. Trump’s proposal marks a significant reversal in a decades-long push in trade policy toward lowering international barriers. While past presidents have often negotiated with foreign countries over tariffs, those agreements have typically led to lower levies, not higher ones. No president has taken Mr. Trump’s approach of raising U.S. tariffs to match other countries’ rates.

…
In addition to the reciprocal tariffs, Mr. Trump said his advisers would meet over the next four weeks to discuss measures on cars, pharmaceuticals, chips and other goods.

“They’ve been taking advantage of us for years and years and years,” he said of other countries. “They’ve charged us and we haven’t charged them. And it’s time to be reciprocal.”

In the past weeks, Mr. Trump’s almost-daily tariff threats have rocked diplomatic and economic relationships. The United States imposed an additional 10 percent tariff on all products from China last week, and came within hours of putting sweeping tariffs on Canada and Mexico that would have brought U.S. tariff rates to a level not seen since the 1940s.

The president had criticized Canada and Mexico for sending drugs and migrants to the United States, but agreed to put off the tariffs for 30 days after the countries offered him some concessions. …”

“This time, it’s reciprocal!”

episode 12 abc GIF by The Bachelor
 
nycfan said:
“… Mr. Trump’s proposal marks a significant reversal in a decades-long push in trade policy toward lowering international barriers. While past presidents have often negotiated with foreign countries over tariffs, those agreements have typically led to lower levies, not higher ones. No president has taken Mr. Trump’s approach of raising U.S. tariffs to match other countries’ rates.

…
In addition to the reciprocal tariffs, Mr. Trump said his advisers would meet over the next four weeks to discuss measures on cars, pharmaceuticals, chips and other goods.

“They’ve been taking advantage of us for years and years and years,” he said of other countries. “They’ve charged us and we haven’t charged them. And it’s time to be reciprocal.”

In the past weeks, Mr. Trump’s almost-daily tariff threats have rocked diplomatic and economic relationships. The United States imposed an additional 10 percent tariff on all products from China last week, and came within hours of putting sweeping tariffs on Canada and Mexico that would have brought U.S. tariff rates to a level not seen since the 1940s.

The president had criticized Canada and Mexico for sending drugs and migrants to the United States, but agreed to put off the tariffs for 30 days after the countries offered him some concessions. …”

“This time, it’s reciprocal!”

episode 12 abc GIF by The Bachelor
Click to expand...
But markets react assuming a lot of bluster here …

Trump Orders Federal Agencies to Study Reciprocal Tariffs​

President’s memo asks agencies for more details on how to adjust U.S. tariffs to reflect the duties imposed by other nations​


GIFT LINK —> https://www.wsj.com/economy/trade/t...5c?st=zzUkym&reflink=mobilewebshare_permalink
 
nycfan said:
Click to expand...

My prediction way back when is that he would institute narrow tariffs that don’t make much difference and then hope the economy continued to do well so he could point to something that he did that turned everything around.
I mean, after convincing his sycophants that the economy was in the shitter he couldn’t do nothing and then claim everything was fixed.
 
ChileG said:
My prediction way back when is that he would institute narrow tariffs that don’t make much difference and then hope the economy continued to do well so he could point to something that he did that turned everything around.
I mean, after convincing his sycophants that the economy was in the shitter he couldn’t do nothing and then claim everything was fixed.
Click to expand...
Reciprocal tariffs ain't that.
 
nycfan said:


April Fools’ Day? Really?
Click to expand...

There are three laws that provide presidential authority over tariffs, and two of them require this study period and/or an administrative record.

Why is Trump obeying the law here and not elsewhere? Because he knows that big moneyed interests will sue over illegal tariffs, and he will lose, and he will lose face completely. So his lawyers are trying to dot the is and cross the ts on this one. Federal employees, by contrast, do not have deep pockets and can't easily fight back. There's only so much states can do.
 
1moretimeagain said:
Wake me up when Mich casts an impactful vote that breaks with the Republicans.
Click to expand...
I think Mitch is sincere about this. I think he's voting with his conscience, so to speak (it's weird even to type the sentence). He lost his power struggle to Trump, and he's old, and he doesn't give a fuck about Republicans. It's like when John McCain decided not to gut health care on his way out the door (though it was less principled than sometimes he gets credit for).

I think he would have voted the same way on RFK even if his was the 51st vote against. And probably Hegseth and Gabbard too. Of course, the reason he's not the 51st vote against is because MAGA has rejected him and he knows it.

That said, obviously Mitch is horrible. He will never, ever live down what he did.
 
You must log in or register to reply here.
Back
Top