Trump's tariffs

[Texan77]

There was enough discussion about this that maybe it needed its own topic.

This is about some of the high tariffs Canada is supposedly charging us.

[Texan77]

This is a broad discussion about how the tariffs are more than reciprocal in many cases. Trump's data is badly flawed.

[Texan77]

The new iPhone will cost 550 to 850 dollars more now.

https://www.msn.com/en-us/lifestyle/shopping/staggering-price-of-new-iphone-after-trump-s-tariffs/ar-AA1CmZMG?ocid=msedgntp&pc=ASTS&cvid=4f1c60f0b066461281d5254fb26ceffe&ei=11

[Texan77]

A White house insider observation.

Describing it as scary, Blake noted it not only may have a bearing on Trump's attitude about the sweeping tariffs he is putting in place but also for what it says about how his second term could play out.

Specifically, he cited a report from the post that included the Trump, administration insider bluntly stating, "[Trump's]... at the peak of just not giving a f--k anymore. Bad news stories? Doesn’t give a f--k. He’s going to do what he’s going to do. He’s going to do what he promised to do on the campaign trail.”

That led the analyst to point out the country is facing, "... a very different Trump presidency than the first version," with scarcely a member of his own party willing to call him out.

Noting the second-term Trump White House is stocked with Trump loyalists more than willing to do his bidding, Blake suggested, "you could scarcely rule out Trump’s deciding to go down with the tariff ship, if that’s what it comes to."

"It’s now becomes clear that the old Trump was contained because of the people around him and his own political considerations. The new Trump is a different animal," he wrote before warning, "And when he finally does go too far — and risks his fellow Republicans’ hides — they have little to fight back with. Which is what we’re seeing now. To the extent Trump does walk the party into destruction, they’ve handed him the leash."


https://www.msn.com/en-us/news/politics/scary-white-house-insider-s-observation-about-trump-should-set-off-alarms-analyst/ar-AA1CmBQf?ocid=hpmsn&cvid=523d88ea52c34cb68183a08900ac39fd&ei=17

[andrewfi]

The new iPhone will cost 550 to 850 dollars more now.

https://www.msn.com/en-us/lifestyle/shopping/staggering-price-of-new-iphone-after-trump-s-tariffs/ar-AA1CmZMG?ocid=msedgntp&pc=ASTS&cvid=4f1c60f0b066461281d5254fb26ceffe&ei=11

Nope, that is not true, and it is not what the article says.

Look, I get it, reading is hard, and it can be embarrassing to have to ask one's carers for help with the hard words and sentences, but do you not have the ability to sanity check your understanding?

Here is what is written in the article: The cost of producing the latest model of its popular smartphone is set to surge from $580 to $850. That reflects the increased tariffs, although the writer clearly did some rounding for effect, as that is about 46%. Complicating matters is the fact that the recent increase is 34%; the previous 20% rate is already factored into the price USAians are paying. So, that's inaccurate.

So, your sentence should have said something like, "The new iPhone will now cost $300 more to import to the USA."

The manufacturing cost is unchanged. The tariff functions as a purchase tax paid by the consumer (although vendors and manufacturers might choose to absorb some of the tariff paid.)

The stupid price of $3,500 can only be true if there was no preexisting tariff and the new level was at 54% from a previous position of 0%. That's not the case. Secondly, the illustration (let us say 'lie') assumes that not only does Apple pass on ALL the tariff taxation to the consumer but that they also add their full profit margin to the tariff amount. That would be suicidal for the company and was invented by the article writer to scare people like semi-literate old men in Texas.

[dorbradavid]

A White house insider observation.

Describing it as scary, Blake noted it not only may have a bearing on Trump's attitude about the sweeping tariffs he is putting in place but also for what it says about how his second term could play out.

Specifically, he cited a report from the post that included the Trump, administration insider bluntly stating, "[Trump's]... at the peak of just not giving a f--k anymore. Bad news stories? Doesn’t give a f--k. He’s going to do what he’s going to do. He’s going to do what he promised to do on the campaign trail.”

That led the analyst to point out the country is facing, "... a very different Trump presidency than the first version," with scarcely a member of his own party willing to call him out.

Noting the second-term Trump White House is stocked with Trump loyalists more than willing to do his bidding, Blake suggested, "you could scarcely rule out Trump’s deciding to go down with the tariff ship, if that’s what it comes to."

"It’s now becomes clear that the old Trump was contained because of the people around him and his own political considerations. The new Trump is a different animal," he wrote before warning, "And when he finally does go too far — and risks his fellow Republicans’ hides — they have little to fight back with. Which is what we’re seeing now. To the extent Trump does walk the party into destruction, they’ve handed him the leash."


https://www.msn.com/en-us/news/politics/scary-white-house-insider-s-observation-about-trump-should-set-off-alarms-analyst/ar-AA1CmBQf?ocid=hpmsn&cvid=523d88ea52c34cb68183a08900ac39fd&ei=17

MSN? Really? Does it bother you that you write things that indicate you are a "low information" person? 

[Texan77]

Trumps continue to increase tariffs on Chinese imports to 245 per cent.

[andrewfi]

At these levels, the numbers no longer matter. The tariffs stopped being tariffs a few weeks ago and became sanctions or a trade embargo.

[Texan77]

At these levels, the numbers no longer matter. The tariffs stopped being tariffs a few weeks ago and became sanctions or a trade embargo.

Actually, there is so much confusion at USA customs no one knows what to charge. 60 per cent of our pre tariff level of imports from China are still coming in. The one thing Trump does extremely well, Chaos!  Then there is a bunch of items from China that no longer get a tariff. Now the Chinese have a list of items that they do not charge a tariff on also. 

[andrewfi]

At these levels, the numbers no longer matter. The tariffs stopped being tariffs a few weeks ago and became sanctions or a trade embargo.

Actually, there is so much confusion at USA customs no one knows what to charge. 60 per cent of our pre tariff level of imports from China are still coming in. The one thing Trump does extremely well, Chaos!  Then there is a bunch of items from China that no longer get a tariff. Now the Chinese have a list of items that they do not charge a tariff on also.

While that might be true, and if you'd watched more than the first 30 seconds of the video I shared a few days ago, you would already have known that. How does that alter the words I wrote? Are you spanking your keyboard out of ennui?

[Texan77]

At these levels, the numbers no longer matter. The tariffs stopped being tariffs a few weeks ago and became sanctions or a trade embargo.

Actually, there is so much confusion at USA customs no one knows what to charge. 60 per cent of our pre tariff level of imports from China are still coming in. The one thing Trump does extremely well, Chaos!  Then there is a bunch of items from China that no longer get a tariff. Now the Chinese have a list of items that they do not charge a tariff on also.

While that might be true, and if you'd watched more than the first 30 seconds of the video I shared a few days ago, you would already have known that. How does that alter the words I wrote? Are you spanking your keyboard out of ennui?

Stuff is still getting in. Trade is still happening. It not a complete end of trade like you were implying. I am not sure what the tariffs are, but they are surely not a trade embargo.

[Texan77]

I saw this. I do not agree with all of it but the underlining point I do. Trump should not be able to impose tariffs without approval of congress. This is a major overreach of the president and should have never been let to happen. Not only that not enough thought went into this and has caused a great instability, aliened allies more than necessary. I think this will end up leading to Trumps down fall.

[Texan77]

I bought some replacement lawnmower blades at home depo. They had a different kind of blade than they used to have. It said made in USA. Is it just lawn mowers blades or is this happening with other products?

[andrewfi]

Stuff is still getting in. Trade is still happening. It not a complete end of trade like you were implying. I am not sure what the tariffs are, but they are surely not a trade embargo.

You need to do a little learning before you try to join adult conversations. Excuse my lack of patience, but you do not pay me enough to be your teacher.

I am sure I did not say there would be absolutely no trade; that is not true and would be unlikely ever to happen. But ask your carer if they would be inclined to buy a product that doubles in price from one day to the next. They'd be likely to postpone the purchase or seek alternatives.

At a certain level, tariffs cease to be about the money because the trade in those goods does cease. It does not matter whether it is 145% or 245% because that trade has ended. That process has already started to take place. Goods in specific categories are no longer being moved from China to the U.S. and vice versa.

[Manny]

I bought some replacement lawnmower blades at home depo. They had a different kind of blade than they used to have. It said made in USA. Is it just lawn mowers blades or is this happening with other products?

That's what Trump intended, isn't it? If it becomes more expensive to import from China, places such as Home Depot will source what they can domestically. The difference in cost on something like a lawnmower blade may be only a dollar or two at cost if the product is made already.

[andrewfi]

I bought some replacement lawnmower blades at home depo. They had a different kind of blade than they used to have. It said made in USA. Is it just lawn mowers blades or is this happening with other products?

That's what Trump intended, isn't it? If it becomes more expensive to import from China, places such as Home Depot will source what they can domestically. The difference in cost on something like a lawnmower blade may be only a dollar or two at cost if the product is made already.

If made locally...

But what about the stuff not made locally, and with no likelihood of it?
For example, several manufacturers of digital cameras are already stopping imports. The same goes for some computer products—and that's just stuff I am interested in. Then there are microwaves, furniture, clothes, cars, and car parts. The list is endless, and, of course, it is not much good for Vietnamese manufacturers to try to step up. In a few weeks, according to Mr Trump, they'll be back up to about 45%.

And even if the hypothetical lawnmower blade is made in the U.S, where does the steel come from? Not the USA at the moment, so that's likely China. In that case, forget about a dollar or two.

Shifting supply networks from Asia to the U.S. will take years, even assuming that manufacturers want to risk the game's rules will not change in a few weeks, months or even years.

[2tallbill]

If made locally...

That's what Trump intended, isn't it?

Then you (Home Desperate or whoever) imports it from ANY country except China. The
USA and China are having an unarmed conflict.

Take China and set it aside. For the purposes of Trumps tariffs.

China is the ONLY country that we are unlikely to resolve our issues with.
Every country except China can and will get preferential treatment.

Trumps tariff goals for every country except China are about getting as close as
possible to a level playing field and as close as possible to similar import rules.

You can probably import lawnmower blades to the USA from Switzerland for less
than China in the coming year.

That's my two kopecks

[Texan77]

Trump place a special tariff on steel so plants here that producer of steel could ramp up. We have the ability to make a lot but just like the UK we could not be profitable with China dumping steel on our market. Their is Japan, Korea, Viet Nam and other nations making small appliances. A number of Chinese companies that have endured years of low profits are looking to set up in the USA now. We have all kinds of old dead shopping malls that can be converted into small factories for small appliances. I know I buy cameras and they usually come from Japan. I do not know of anyone wanting to make consumer cameras here.

Remember we have a 25 per cent tariff on Canada and a twenty five per cent tariff on Mexico which are our largest two trading partners. We also have an increase tariff on a number of Asian countries that import heavily to us. China's tariff is so large because they pissed Trump off by the way they responded to us.

[Jonas!]

If made locally...

That's what Trump intended, isn't it?

Then you (Home Desperate or whoever) imports it from ANY country except China. The
USA and China are having an unarmed conflict.

Take China and set it aside. For the purposes of Trumps tariffs.

China is the ONLY country that we are unlikely to resolve our issues with.
Every country except China can and will get preferential treatment.

Trumps tariff goals for every country except China are about getting as close as
possible to a level playing field and as close as possible to similar import rules.

You can probably import lawnmower blades to the USA from Switzerland for less
than China in the coming year.

That's my two kopecks

I think China is probably ok with losing most of the US market if that is what it comes down to.  There is no war unless we want one, and if we do want one it is simply because we are unable to compete on the open market with China.   We have attempted to prevent China from trading with other nations by issuing threats.  From what I can read/see, nations are finding it more important to work on deals with China than submit to the US extraterritorial threats. 

It is the US that is in need of the change due to our own missteps. Trying to blame China doesn't seem to be playing well worldwide.  Decades ago it might have not nowadays we have lost too much clout.



Jonas! 

[Jonas!]

China dumping steel on our market. 

If Chinese companies were charging more for their steel, the complaints would be they were price gouging everybody and making too much money.  Internationally, inexpensive steel helps more people than it hurts.   Trying to artificially elevate the price of steel would cause price hikes on steel-based products.  Aside from the steel industry workers, why would the world's people get behind that?

Jonas!   

[Faux Pas]

I think China is probably ok with losing most of the US market if that is what it comes down to. 

It is the US that is in need of the change due to our own missteps. Trying to blame China doesn't seem to be playing well worldwide.  Decades ago it might have not nowadays we have lost too much clout.



Jonas!

I think you're wrong. China's economy is heavily dependent on the largest market in the world. Trump is banking on China either conforming or breaking. China will do one or the other. Get your popcorn, it's going to be a show

[andrewfi]

No, Bill, you do not seem to understand what is going on. Don't worry; you are not alone. The U.S. has imposed tariffs on most countries around the world. They have temporarily suspended them, but that lasts only a few weeks. Those tariffs will affect the prices of almost all imports into the United States.

Most manufacturers will not change their location to support a tariff regime that is slated to change. Changing has a cost to all the companies in the supply network.

Don't forget, there are good reasons why importers import from Chinese businesses; those reasons, apart from tariffs, have not changed.

At the macroeconomic level, do you have any idea how long it takes to set up trade agreements? Here's the secret: it does not take weeks or even months. It takes years. The UK and India have just finalised a pretty comprehensive trade agreement, it was three years in the making, that's not slow, it is typical. At the same time, the United States claims to be working to set up new trade arrangements with most countries around the world. How many of those do you think can be negotiated simultaneously? 1? 2? maybe 3? certainly not over 100!

Jonas makes a point that I have previously made: China is almost certainly willing to write off trade with the USA. Doing so, assuming it was 100% of all bilateral trade and that none of it was replaced, would represent a one-time hit of approximately 2% on this year's GDP growth. On a microeconomic level, that would present real difficulties for quite a few Chinese businesses—businesses that were dependent upon the U.S. for a large part of their revenue. But, again, a one-time hit and, realistically, unlikely because the scenario I presented is unrealistic. There's a reason why the U.S quickly backtracked on product categories upon which the U.S is dependent.

[dorbradavid]

If made locally...

That's what Trump intended, isn't it?

Then you (Home Desperate or whoever) imports it from ANY country except China. The
USA and China are having an unarmed conflict.

Take China and set it aside. For the purposes of Trumps tariffs.

China is the ONLY country that we are unlikely to resolve our issues with.
Every country except China can and will get preferential treatment.

Trumps tariff goals for every country except China are about getting as close as
possible to a level playing field and as close as possible to similar import rules.

You can probably import lawnmower blades to the USA from Switzerland for less
than China in the coming year.

That's my two kopecks

Nicely put. 

[Bodine]

So China and the US are scheduled to talk about current matters  damn! I was really hoping this doesn’t take place at all and looking forward to bring this to the nittiest and grittiest end point. Isn’t this what China had been declaring all along?

China can certainly easily find a consuming nation/s eager to replace US market right? So I don’t understand why sit down and talk to the US about any if this anymore. Since many big US companies are moving out if China we can eventually get our imports from those nation/s.

The talk tomorrow is sheer BS IMO.

[Texan77]

Europe was trying to get closer to China but then Xi shows up in Moscow as guest of honor pledging support for Russia in Ukraine war. Not many governments in EU impressed. Canada has had a lot of problems with China and hope maybe now it would be better. It did not work out so they are back talking to Trump. Most of south America does not have the extra income to buy expensive things. They have a lot of people but most of those people do not have that much extra money. Those countries cannot afford a negative balance of trade. So China will have to buy as much as they sell like the USA is requesting. Maybe China wants to buy trillions of dollars worth of Peruvian bonds and make the people of Peru rich then they can buy their products. It seem long term easier for the USA to find new suppliers than for China to find new customers.

About talks. Just the beginning where the they say what the early talks are about. The commentary not worth much.