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Trump tariffs hit uninhabited islands in Australian sub-Antarctic territory
No longer will the penguins of Heard Island take advantage of us!!!!!
No longer will the penguins of Heard Island take advantage of us!!!!!
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Turns out there is SOME method to the madness and it's got nothing to do with tariffs. It's trade deficits. Trump thinks South Korea should buy the exact same amount of goods from us that we buy from them.
Brazil actually has some of the highest tariffs in the world but because we run a trade SURPLUS with them, they are largely getting off unaffected.
This is moronic.Comment
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Under this scheme any country we run a trade surplus with gets off with "only" a 10% tariff. You get extra punishment if we run a trade deficit.
Under this scheme we are only tariffing Iran 10%, because we import almost nothing from them. But Israel is getting hit with a 17% tariff, despite having no tariffs on our products at all. This isn't about reciprocity.Comment
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"Democracy is the theory that the common people know what they want, and deserve to get it good and hard" -- H. L. MenckenComment
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Eric Adams dropping out of the Dem primary and running as an Independent. Andrew Cuomo is really gonna be the next Mayor of NYC, ffsComment
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Whirlpool layoffs: Amana, Iowa plant losing one-third of workforce
Largest single employer layoff in Iowa since spring of last year.Comment
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As far as US consumers are concerned, I don't see anything positive for them, short term, coming out of the tariffs Trump imposed yesterday. Consumption among citizens of other countries is also going to suffer but Trump's focus is on MAGA so, that's not a concern of DJT it seems.Trump and his spokespersons have all trumpeted that the tariff's are going to reinvigorate the US manufacturing sector, job growth and the nation's and its citizens wealth. That goal is not going to be clear that it is being achieved at least well into 2025, if not longer.
I read a decent piece yesterday that discussed the role of tariffs in economic policy. The problem with the Trump tariffs, it seems, is not only that conceptually, tariffs can do what Trump and his people allege they will do, but also that the generalized, rather than targeted nature of the tariffs that Trump imposed yesterday, are not likely to achieve his desired goals. Another role of tariffs can be coercion both with economic intent and political or strategic intent. Given Trump's history in the business world that can reveal brutal coercive tactics played by one business against another, this could be exactly what Trump is seeking.
It's being argued today that while Trump may have some economic goals - reduction in trade deficits between the US and its trading partners - it is also likely that Trump is interested in coercing governments, both friends and foes, not only to remove trade barriers to the importation of US goods, stimulating increased US production potentially at home, but also to obtain strategic objectives. Most, not all, post "Liberation Day" comments appearing in the news today by foreign leaders seem to signal a wish to negotiate economic or otherwise deals with the US. To Trump, this would be the fruits of the classic bare knuckle fight between two companies competing for market share. Something Trump is keenly familiar with.
For people invested in stock markets, both national and international, that are getting a haircut today there is the distinct possibility that yesterday's imposition of withering tariffs by DJT will end up being coercive in nature giving leverage to the US in immediate negotiations between the US and it's trading partners and leverage in dealing with foes at a strategic level. IOW, given concessions, whatever these might be, by targeted countries, those tariffs imposed yesterday will be removed. A post tariff imposition scenario like this is entirely consistent with how Trump has already behaved in the recent past and with respect to tariffs he has already imposed and then rescinded.Mission to CFB's National Championship accomplished. But the shine on the NC Trophy is embarrassingly wearing off. It's M B-Ball ..... or hockey or volley ball or name your college sport favorite time ...... until next year.Comment
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I remember the first two years of the Reagan administration. He told the country that ridding the country of hyper-inflation (I still have a 30-day CD issued in 1979 yielding 17.5%) would be painful. And it was. But it was necessary for the 15-year boom that followed.
No reasonable American ignores the 90,000 factories that have left the country for countries with lower wage rates and sometimes slave labor. We need to start making things again in the US. We all intuitively know that. Pharmaceuticals come to mind after COVID.
I'm a free trader, but I'm willing to give Trump some time to see if this Tariff gambit works. I would say that Trump imposed significant tariffs during his first term, and it did not cause inflation. The problem Trump has, that Reagan did not, is the controlled media in the US, controlled by those who favor globalization. I believe globalization is a bigger threat to the country than paying $ 2,500 more for a car. Globalization is civilizational suicide for the developed countries of the West.Comment
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The only long-lasting tariffs from Trump's first term were put on China. These are significantly more extensive than what he did the last time. He's taking on the entire world. He considers it "unfair" that any single country in the world has a trade surplus with us. And even the ones who don't (like the UK) he's slapping a tax on them too.Originally posted by Da Geezer View Post
Also pharmaceuticals are being exempted. Or the generic ones from India are at any rate.
And Reagan would be completely opposed to what Trump is doing. Reagan was the champion of what Trump is trying to reverse.
Can someone explain to me why it's critically important that all our clothes be made in factories HERE?Comment
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you know life sucks when you post 12 times in a row hereComment
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