US Trade wars

TwoSheds

More sheds (and tiles) than you, probably
Joined
Feb 12, 2014
Messages
13,978
Seems like it begins in earnest as of today with 20% tariffs on China across the board, 25% on Mexico and Canada, and retaliatory action on agriculture, marine engineering, biotech, energy, oil, and raw materials already announced from China and Canada, and Mexico to announce new measures today.

How long do we think this will last? It's surely going to fuel inflation in the US (and across the world?), so will Trump U-turn fairly soon do we think? Or is he in it for the long haul to genuinely try to bring manufacturing back to the US?

How will it affect you? My wife works for a Texan company who make most of their products in Mexico, I think the (somewhat Trumpy) bosses there are probably panicking right now.
 
TwoSheds said:
Seems like it begins in earnest as of today with 20% tariffs on China across the board, 25% on Mexico and Canada, and retaliatory action on agriculture, marine engineering, biotech, energy, oil, and raw materials already announced from China and Canada, and Mexico to announce new measures today.

How long do we think this will last? It's surely going to fuel inflation in the US (and across the world?), so will Trump U-turn fairly soon do we think? Or is he in it for the long haul to genuinely try to bring manufacturing back to the US?

How will it affect you? My wife works for a Texan company who make most of their products in Mexico, I think the (somewhat Trumpy) bosses there are probably panicking right now.
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That will mean worldwide inflation but US will feel the pain the most for obvious reasons. If he needs to backtrack, He will not have a problem as he will find a lame excuse or directly a lie like Canada and Mexico solved the border issues thanks to him pressuring them with the tariffs and all cool
 
4bars said:
That will mean worldwide inflation but US will feel the pain the most for obvious reasons. If he needs to backtrack, He will not have a problem as he will find a lame excuse or directly a lie like Canada and Mexico solved the border issues thanks to him pressuring them with the tariffs and all cool
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But what do you think will happen?
 
I still struggle with the fact that so many people have and had no idea what tarriffs are but then again the Brexit conversations exposed the fact that so many people, everywhere, have no idea about how goods are moved around the globe. Schools have failed people.
 
JPRouve said:
I still struggle with the fact that so many people have and had no idea what tarriffs are but then again the Brexit conversations exposed the fact that so many people, everywhere, have no idea about how goods are moved around the globe. Schools have failed people.
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Not even Trump seems to know. He's still adamant that it's the countries who'll be paying the tariffs. Either he's being deceitfully ignorant to speedrun crashing the economy and allowing him and his billionaire baron mates to loot the nation's assets at a cut price, or he's genuinely an economically illiterate moron.
 
Kaos said:
Not even Trump seems to know. He's still adamant that it's the countries who'll be paying the tariffs. Either he's being deceitfully ignorant to speedrun crashing the economy and allowing him and his billionaire baron mates to loot the nation's assets at a cut price, or he's genuinely an economically illiterate moron.
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Trump is a certified idiot so it's perfectly normal. I'm more worried about the masses because there should be a very large amount of people that have a basic understanding of it when in reality it seems that the vast majority of people are clueless.
 
JPRouve said:
Trump is a certified idiot so it's perfectly normal. I'm more worried about the masses because there should be a very large amount of people that have a basic understanding of it when in reality it seems that the vast majority of people are clueless.
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Considering a bulk of them elected this idiot (and also voted for Brexit, and in general voting against their interests), then yes it is a bleak realisation unfortunately.
 
Kaos said:
Not even Trump seems to know. He's still adamant that it's the countries who'll be paying the tariffs. Either he's being deceitfully ignorant to speedrun crashing the economy and allowing him and his billionaire baron mates to loot the nation's assets at a cut price, or he's genuinely an economically illiterate moron.
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He knows how they work. He’s not that dumb.

My take is that he thinks he can boost domestic production, and also get concessions out of the countries he is placing tariffs on.
 
4bars said:
with Trump? no fecking idea. is the most unpredictable era that I ever experienced
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Unpredictable for those outside the circle of people who will benefit financially from every timed announcement. Not enough is made of the market manipulation this in my humble opinion so often comes down to.
 
I think the inflationary impact seems overstated in many quartes will be well under a percentage point in the US from what I understand.
Hopefully counter-tariffs hurt Tesla and countries look to cooperste with each other more and reduce dependency on the US.
 
Kaos said:
Not even Trump seems to know. He's still adamant that it's the countries who'll be paying the tariffs. Either he's being deceitfully ignorant to speedrun crashing the economy and allowing him and his billionaire baron mates to loot the nation's assets at a cut price, or he's genuinely an economically illiterate moron.
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Nobody knows more about the tariffs than Trump.
 
I understand how the tariffs work, but what has actually been implemented to collect the extra 25% payment?
 
FriedClams said:
I understand how the tariffs work, but what has actually been implemented to collect the extra 25% payment?
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There is nothing to implement, it's part of normal customs. When you import goods you have to fill customs forms and pay the corresponding tarrifs-VATs. That's the entire purpose of Customs.
 
JPRouve said:
There is nothing to implement, it's part of normal customs. When you import goods you have to fill customs forms and pay the corresponding tarrifs-VATs. That's the entire purpose of Customs.
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The perfect oxymoron
 
JPRouve said:
I'm missing your point.
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It would be great if customs could actually live up to their purpose. Instead, it's very much a case of "how can we screw people over" each and every time they fire up their workstation
 
FriedClams said:
It would be great if customs could actually live up to their purpose. Instead, it's very much a case of "how can we screw people over" each and every time they fire up their workstation
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The purpose of Customs from day one which is millennia ago, is to make sure that barriers to Entry are respected as well as taxes, these barriers have primarily been tariffs, other barriers are standards or quantities.
 
A couple of days of the dow losing 1000k points a day and Trump will shit his pants. He aint got the stomach for it so will make up some BS about needing Canada and Mexico to send some more troops to the border to stop the flow of fentanyl, maple syrup and Mexican telenovelas.
 
JPRouve said:
The purpose of Customs from day one which is millennia ago, is to make sure that barriers to Entry are respected as well as taxes, these barriers have primarily been tariffs, other barriers are standards or quantities.
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Yes, that's the purpose, it just very rarely adheres to it
 
Redplane said:
Unpredictable for those outside the circle of people who will benefit financially from every timed announcement. Not enough is made of the market manipulation this in my humble opinion so often comes down to.
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Thats another topic to discuss. Trump will know if he is bluffing or not and will tell their cronies and friends. But he bluffed on the tariffs on february but not in march. So you and me don't know shit and we don't know if he will undo them in 3 months. If we knew, we would be happy with trump because we would move all our money according to this market manipulation
 
4bars said:
Thats another topic to discuss. Trump will know if he is bluffing or not and will tell their cronies and friends. But he bluffed on the tariffs on february but not in march. So you and me don't know shit and we don't know if he will undo them in 3 months. If we knew, we would be happy with trump because we would move all our money according to this market manipulation
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Exactamundo
 
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