Make Argentina Great Again: US ready to support Argentina with 'large and forceful' action, Treasury chief says

[Desk trauma]

We do. It was the right who went on a crusade against foreign aid.

Much like the endless billions for and being at the beck and call of Israel this is different cuz reasons.

 

[essentialsaltes]

Democrats should simply consider this $20B of foreign aid.

What should America First Republicans consider it? A betrayal?

 

[Nithavela]

We do. It was the right who went on a crusade against foreign aid.

Socialism for us, dog eat dog for the rest. That's the way of many people on the right.

 

[GoldenBoy89]

Socialism for us, dog eat dog for the rest. That's the way of many people on the right.

I’m a bit torn. As an Argentinian, I’m glad we’re helping my parent’s home country but as an American, I’m angry it takes having a goofy knockoff version of Trump running the country into the ground to get any help out of the current US administration.

 

[mark46]

I’m a bit torn. As an Argentinian, I’m glad we’re helping my parent’s home country but as an American, I’m angry it takes having a goofy knockoff version of Trump running the country into the ground to get any help out of the current US administration.

just be glad for the help.

BTW, do you think that Harris would be helping? Me neither.

 

[GoldenBoy89]

just be glad for the help.

K.

BTW, do you think that Harris would be helping? Me neither.

No. Why do you think Milei should get an off-ramp for his failure to address his country’s economic problems? Why should American taxpayers be on the hook for it when it?

 

[mark46]

K.

No. Why do you think Milei should get an off-ramp for his failure to address his country’s economic problems? Why should American taxpayers be on the hook for it when it?

Milei faced a total disaster. He has done a lot. There is so much more to do.

 

[Desk trauma]

Milei faced a total disaster. He has done a lot. There is so much more to do.

And we should foot the bill because?

 

[Pommer]

BTW, do you think that Harris would be helping? Me neither.

The instant case wouldn’t have materialized given that Harris did not have massive tariffs on her platform.

 

[essentialsaltes]

Camerawoman Captures Scott Bessent’s Texts, Exposing White House Panic​

Treasury Secretary Scott Bessent was spotted at the United Nations General Assembly last week reading a ... message from “BR,” who some have determined to be Secretary of Agriculture Brooke Rollins. The message linked to the X account of Ben Scholl, a midwestern grain trader who has sounded the alarm on Washington’s newly-tossed lifeline to Buenos Aires.

“Just a heads up. I am getting more intel, but this is highly unfortunate. We bailed out Argentina yesterday and in return, Argentina removed their export tariffs on grains, reducing their price to China at a time when we would normally be selling to China,” the message read.

“Soy prices are dropping further because of it. This gives China more leverage on us,” the message continued, with Rollins adding: “On a plane but scott I can call you when I land.”

As for Scholl's comments...

 

[Gene2memE]

I actually had high hopes that Argentina could move to more of a free market system. Their VAT system though similar to tariffs,

VAT is common worldwide. About 80% of economies have one. Having a VAT doesn't preclude a free market. The countries with the highest economic freedom scores (Singapore, Ireland, Luxemborg, New Zealand, Switzerland) all have VATs or GSTs.

VATs are not "similar to tariffs".

VATs are a general tax on consumption, not on trade.

That means that they apply to all goods (domestic or foreign), and thus increase prices/reduce consumption generally. Tariffs only apply to foreign goods, increasing prices/reducing consumption of imported goods (or domestically produced goods that include foreign-sourced materials).

Quoting from the Cato Institute:

So why the misleading comparison? The VAT line gives cover to protectionism under the guise of “fairness.” If you can convince the public that other countries are taxing us and we’re not taxing them, then tariffs look like a justifiable policy correction. But the economics are clear: VAT is not a tariff, and tariffs are not a consumption tax.

https://www.cato.org/blog/no-tariffs-are-not-similar-consumption-taxes-vat

 

[Richard T]

VAT is common worldwide. About 80% of economies have one. Having a VAT doesn't preclude a free market. The countries with the highest economic freedom scores (Singapore, Ireland, Luxemborg, New Zealand, Switzerland) all have VATs or GSTs.

VATs are not "similar to tariffs".

VATs are a general tax on consumption, not on trade.

That means that they apply to all goods (domestic or foreign), and thus increase prices/reduce consumption generally. Tariffs only apply to foreign goods, increasing prices/reducing consumption of imported goods (or domestically produced goods that include foreign-sourced materials).

Quoting from the Cato Institute:

So why the misleading comparison? The VAT line gives cover to protectionism under the guise of “fairness.” If you can convince the public that other countries are taxing us and we’re not taxing them, then tariffs look like a justifiable policy correction. But the economics are clear: VAT is not a tariff, and tariffs are not a consumption tax.

https://www.cato.org/blog/no-tariffs-are-not-similar-consumption-taxes-vat

Yes, thanks for correcting me. Though a VAT can effect trade flows, they are taxes applied at the point of sale on any products. I took that wrong cue from Kevin O'Leary, which I just found on a Trump facebook page. Source: Donald Trump For President

Donald Trump For President​

July 18 ·
NEW: Kevin O’Leary says Trump’s tariffs are actually a smart play....and the markets are about to explode.
Mr. Wonderful just connected the dots in a way no one else is saying:
“What Trump is really putting in place is a VAT tax. A consumption tax. He’s just not calling it that.”
He says the so-called “tariffs” are actually reciprocal taxes....no different from what Europe and Canada already do.
“You start to see tariff rates between 10 and 12%, that’s the same as the VAT taxes the Swiss, French, British, and Canadians already charge.”
He even predicts the final landing spot:
“If we end up globally with a reciprocal 10–12%, everything works out—and the market thinks that too.”
“That’s why these indices are near all-time highs.”
The panic over tariffs? About to get real quiet.