Tit for Tat Tariffs - The US versus the World

[Oompa Loompa]

Personally, I'm thinking "is the thread going so badly for Donald's trade policy that there's a need to continue to drag it off topic by unrelated attacks on the previous administration".

I think his trade policy is doing much better than expected.

 

[RocksInMyHead]

I think his trade policy is doing much better than expected.

By what metric?

 

[Oompa Loompa]

By what metric?

By how many countries who have already dropped, or will drop, their tariffs on the United States and are asking to come to the negotiation table. Think about it. If tariffs are so bad, why does almost every country have them, particularly against U.S. goods?

 

[Say it aint so]

By how many countries who have already dropped, or will drop, their tariffs on the United States and are asking to come to the negotiation table. Think about it. If tariffs are so bad, why does almost every country have them, particularly against U.S. goods?

So far there is one. Israel. And we don't have much trade with them at all. There are meaningful trading partners we have zero trade with pending what type of product. That's with Canada and Mexico. Trump just changed that. Well, I think he did because he's been going back and forth from they're on, to not on, to on....who knows where they are at now. No one is saying tariffs are bad. They are used by all countries to protect given industries. We, the US, have 100% tariff on Chinese E-cars that have now revolutionized that industry with battery recharges that take a little more than it would take to fill your tank. Musk should appreciate that, because if those got in out markets right now, game over.

 

[Oompa Loompa]

So far there is one.

I have heard differently.

List of countries considering lifting tariffs on the US

"We are going to fight these tariffs with countermeasures," Canadian Prime Minister Mark Carney said Wednesday.

www.newsweek.com

 

[Say it aint so]

I have heard differently.

List of countries considering lifting tariffs on the US

"We are going to fight these tariffs with countermeasures," Canadian Prime Minister Mark Carney said Wednesday.

www.newsweek.com

Read it. The only country offering zero tariffs is Israel.

 

[RocksInMyHead]

By how many countries who have already dropped, or will drop, their tariffs on the United States and are asking to come to the negotiation table.

I have heard differently.

List of countries considering lifting tariffs on the US

"We are going to fight these tariffs with countermeasures," Canadian Prime Minister Mark Carney said Wednesday.

www.newsweek.com

Note the days that those things were from. All of the conciliatory statements and actions were from before Trump's tariffs were announced. Canada said on Monday that they would not place tariffs on certain industries. Israel reduced its tariffs on Tuesday. Reuters reported last week (the article was written on Thursday) that India was open to reducing tariffs. Vietnam promised to reduce its tariffs last week. The tariff details were announced on Wednesday.

The only ones from after are Canada's promise to respond in kind and Mexico not ruling out retaliatory tariffs. That does not sound positive.

Think about it. If tariffs are so bad, why does every country have them, particularly against U.S. goods?

Tariffs aren't inherently bad. Targeted tariffs can be helpful if you have industries that you want to protect or if you want to make a statement about a particular country's business practices - it's blanket tariffs that are a problem. And, as far as I can tell, very few countries place tariffs specifically on US goods.

 

[Oompa Loompa]

Read it. The only country offering zero tariffs is Israel.

And Vietnam

 

[Say it aint so]

And Vietnam

I have not seen a proposed zero rate like Israel has offered.
But yes, cuts on some products.
Products like cars which they really don't import from us.
US cars are .84% of Vietnam's imports.
I think we both know what would happen if in a magical world the US and Vietnam both had zero tariffs.

 

[sjastro]

Heard and MacDonald islands are considering counter tariffs against America.

 

[Gregory Thompson]

There's already a thread on Canada going back and forth with the US. This thread is for any tariffs involving the US: Canada, Mexico, EU, Japan, wherever.

Europe has responded to Trump's steel tariffs with a 50% tariff tariff on American whiskey.

And now Trump is considering a tariff tariff tariff due to the tariff tariff.

In a post on Truth Social, Trump slammed the E.U. as “one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States.” He called the proposed tariff on American whiskey, an industry that is already facing a slowdown in the U.S. market, “nasty.”

“If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES,” Trump wrote.

Maybe he can rename the Champagne region of France to be Swillsville.

Pop can prices up, silly aluminum. Not so cheap now, is it?

 

[Oompa Loompa]

I have not seen a proposed zero rate like Israel has offered.
But yes, cuts on some products.
Products like cars which they really don't import from us.
US cars are .84% of Vietnam's imports.
I think we both know what would happen if in a magical world the US and Vietnam both had zero tariffs.

I honestly think Vietnam is looking to replace China in trade with the US.

 

[Say it aint so]

I honestly think Vietnam is looking to replace China in trade with the US.

I stand corrected. Just read in the NYTimes Vietnam is offering zero tariffs for American products.
The catch is however, they want US to as Trump says "reciprocate" with zero tariffs on their products.
That's nothing but win win for Vietnam and a loss of American manufacturers.
Here's hoping the people who created new tariffs rates using a process tantamount to a Ouji Board are smarter than that.

 

[essentialsaltes]

'Sometimes you have to walk through fire': Tariffs get backing in Trump heartland​

"I don't want people in other countries to suffer, I really don't," said Mary Miller, manager of the Delta Candy Emporium, which sits in the middle of the village's Main Street. "But we need to have an even playing field."

--

another diner commented: "Trump may be wrong, but at least he's trying."

 

[Oompa Loompa]

I stand corrected. Just read in the NYTimes Vietnam is offering zero tariffs for American products.
The catch is however, they want US to as Trump says "reciprocate" with zero tariffs on their products.
That's nothing but win win for Vietnam and a loss of American manufacturers.
Here's hoping the people who created new tariffs rates using a process tantamount to a Ouji Board are smarter than that.

I think that Trump's end state is not to return all manufacturing, only those necessary for national security and economic growth. If Nike wants to move their shoe manufacturing out of the Chinese child sweat shops and into a Vietnamese child sweat shop, that is on them. But I wouldn't want any president of United States traveling the world like Zelensky, dependant on and begging for resources so that we can defend our national interests.

 

[7thKeeper]

When the bull dies we get to eat more ground beef.

But it's an American bull. So it's pumped full of steroids and antibiotics and not very good quality meat.

 

[Say it aint so]

I think that Trump's end state is not to return all manufacturing, only those necessary for national security and economic growth. If Nike wants to move their shoe manufacturing out of the Chinese child sweat shops and into a Vietnamese child sweat shop, that is on them. But I wouldn't want any president of United States traveling the world like Zelensky, dependant on and begging for resources so that we can defend our national interests.

If the desire is to move national security related manufacturing, then you place tariffs on those kinds of manufacturing.
Trump's motivation is tariff deficits, something he constantly demonstrates doesn't understand.

 

[stevil]

remind me whats bad about trade deficits?

Trade deficit is a scary term, but it is ultimately meaningless.

If we were still in the old pre money times where we barter goods for goods, e.g. I really want that lovely hammer that your selling, I can pay for it by offering you my lovely chickens. Oh, you don't want chickens, you want some bacon. OK, Ill go to the pig farmer, trade my chickens with him and come back with a pig and then I'll swap that for your hammer. All good?


Nowadays we use money.
So we can go buy a shiny new hammer by giving money. This would be a trade deficit. You trade your hammer but you get back money rather than some other good, like a bunch of chickens. The quid pro quo is there, everything is balanced, all parties are happy.

So If USA has money and can consume more goods from a country than what that country consumes from USA, what is the big deal?
On the other hand, if you want to sell more stuff to other countries, then produce stuff for a reasonable price that people in other countries want.

 

[Say it aint so]

A bailout for farmers caught in Trump’s trade war is already being discussed. ‘If we don’t get something, it will be quite a disaster​

Trump administration officials and lawmakers have begun exploring a relief package for U.S. farmers as agricultural trade groups warn of economic repercussions from tariffs.​

​

That’s as retaliation against President Donald Trump’s sweeping import taxes could harm U.S. exports of farm products.​

​

“We are setting up the infrastructure that if, in fact, we have some economic consequences in the short term to our farmers and perhaps our ranchers, that we will have programs in place to solve for that,” Agriculture Secretary Brooke Rollins told reporters last week.​

​

So are we going to bail out every job sector caught up in this insanity?

 

[essentialsaltes]

The nonpartisan Tax Foundation said the average American household will pay $2,100 a year more for goods because of the significant universal and reciprocal tariffs Trump announced Wednesday. It said America’s average import tax will surge to 19% this year from 2.5% last year — the highest rate since the Smoot-Hawley era in 1933. Fitch Ratings said the rate would rise even higher, sending America’s effective tariff rate to its highest level in more than a century.

As a result, Americans’ after-tax incomes will decline 2.1% on average this year, the Tax Foundation said.