Sky Blue Pete
Well-Known Member
What a crock of shit
I’m sure we can come up with a song for that.What a crock of shit
The people who matter won't come out bad out of it.This will backfire on the US in my view.
The people who think they matter.The people who matter won't come out bad out of it.
The tariff on cars is an odd one, given that even if cars are manufactured in the US they still often need parts from other countries.
Of course it's going to backfire. If this was a great thing to do economically then everyone would already be doing it. Even the likes of China with a huge internal market rely heavily on exports.Cars and car parts tend to be taxed differently at the border.
The rationale for the tariffs policy is to address uneven trade balances the US has with protectionist markets (e.g. the EU) and to bring some manufacturing back to the US. There’s some sound thinking here but it’s going too far as to alienate the world economy.
My view is that it’s going to backfire because Trump has this romantic vision of a bygone era that’s no longer a reality. It’ll drive up inflation, make US businesses potentially less competitive and import taxes are a tax on your own population.
Of course it's going to backfire. If this was a great thing to do economically then everyone would already be doing it. Even the likes of China with a huge internal market rely heavily on exports.
If his plan is to get companies (including non U.S. companies) to set up manufacturing in the U.S. then again it would be tit-for-tat and other countries would demand U.S. manufactured goods are made in their country. But then he probably doesn't get that, just like he seemed genuinely surprised and angry when those countries he had placed tariffs on placed tariffs on U.S. goods, calling them 'nasty' when he's the reason they did it.
And about car parts etc. Countries could easily choose to put tariffs on the parts to the U.S. instead.
He's a privileged idiot who isn't used to people not doing what he wants.
Its not really about being for or against the free market. I would say the vast majority of people who agree with the end result with be very much against the way Trump is trying to achieve it.China, India and the EU have markets that are significantly more closed than the US.
It’s strange to see how in favour people of the left are now making the argument for free trade now that Trump is going against it…
The US automobile manufacturers uprooting jobs from the US, outsourcing those jobs to Mexico who then supply the same products duty free should be opposed by anyone left-leaning.
It’s wider than free or not and open or closed marketsChina, India and the EU have markets that are significantly more closed than the US.
It’s strange to see how in favour people of the left are now making the argument for free trade now that Trump is going against it…
The US automobile manufacturers uprooting jobs from the US, outsourcing those jobs to Mexico who then supply the same products duty free should be opposed by anyone left-leaning.
It’s wider than free or not and open or closed markets
Or even left and right wing politics
For me I consider myself centre left in terms of politics globalisation free trade requires agreed checks and balances and the thing I’m offended by with trump is not his desire for companies to make things in the USA to sell in the USA it’s that he wants all the benefits with none of the costs
And fundamentally he’s greeedy and is on the side of the greedy who want to exploit everything countries raw materials the planet to be richer and more powerful
Trump wants to restore the US to a system where nobody is taxed and the government income is primarily from tariffs. That was before any semblance of a welfare state.What do you mean by that Pete?
Pre-Liberation Day, the EU imposes much harsher tariffs on US origin goods than vice versa. Same with India, Brazil and China. In fact, the US had the lowest average duty rate among the major global economies (China, Korea Republic, EU, Japan, UK, Brazil and Mexico).
The US companies face much harsher import levies to many markets, particularly in areas of food stuffs and automobile industries (there’s more).
A few quick examples:
EU imposes 10% duty on US cars, versus 2.5% US reciprocal levy.
India had a 100% duty on US motorcycles (reduced recently) v 2.4% US duty on Indian goods.
EU levies 24% on fruit spreads from the US.
Is it fundamentally unfair that a country seeks to even the playing field?
It’s a bold strategy and arguably too aggressive to achieve its stated aims. We’ll wait and see.
I've not been against free trade. I'm not some militant trade unionist wanting jobs to be kept in this country at all costs.China, India and the EU have markets that are significantly more closed than the US.
It’s strange to see how in favour people of the left are now making the argument for free trade now that Trump is going against it…
The US automobile manufacturers uprooting jobs from the US, outsourcing those jobs to Mexico who then supply the same products duty free should be opposed by anyone left-leaning.
What do you mean by that Pete?
Pre-Liberation Day, the EU imposes much harsher tariffs on US origin goods than vice versa. Same with India, Brazil and China. In fact, the US had the lowest average duty rate among the major global economies (China, Korea Republic, EU, Japan, UK, Brazil and Mexico).
The US companies face much harsher import levies to many markets, particularly in areas of food stuffs and automobile industries (there’s more).
A few quick examples:
EU imposes 10% duty on US cars, versus 2.5% US reciprocal levy.
India had a 100% duty on US motorcycles (reduced recently) v 2.4% US duty on Indian goods.
EU levies 24% on fruit spreads from the US.
Is it fundamentally unfair that a country seeks to even the playing field?
It’s a bold strategy and arguably too aggressive to achieve its stated aims. We’ll wait and see.
I mean it’s wider than thatWhat do you mean by that Pete?
Pre-Liberation Day, the EU imposes much harsher tariffs on US origin goods than vice versa. Same with India, Brazil and China. In fact, the US had the lowest average duty rate among the major global economies (China, Korea Republic, EU, Japan, UK, Brazil and Mexico).
The US companies face much harsher import levies to many markets, particularly in areas of food stuffs and automobile industries (there’s more).
A few quick examples:
EU imposes 10% duty on US cars, versus 2.5% US reciprocal levy.
India had a 100% duty on US motorcycles (reduced recently) v 2.4% US duty on Indian goods.
EU levies 24% on fruit spreads from the US.
Is it fundamentally unfair that a country seeks to even the playing field?
It’s a bold strategy and arguably too aggressive to achieve its stated aims. We’ll wait and see.
Trump wants to restore the US to a system where nobody is taxed and the government income is primarily from tariffs. That was before any semblance of a welfare state.
19th century economic policy in a 21st century world that will benefit the robber barons and few others.
Joe Biden did bring manufacturing jobs to the states-around 150,000 of which Trump cancelled out of spite.I’d be surprised if that’s under serious consideration. It’s a pipe dream and nothing more of the American Right.
The stated aims Trump has outlined is:
- bring manufacturing jobs to America
- trade equalisation / revenge
- lowering tariffs
It’s a bit all over the place but given that the US and UK have some of the most liberal MFN regimes globally, there’s a certain rationale to aggressively force a change to that current state of affairs.
After all, the traditional diplomatic means have failed in getting China to engage in free and fair trade and opening up the EU and India’s protectionist tendencies.
I’m interested to see how it all pans out, if there’s an economy that can throw its weight around to this extent, it’s the USA.
Then it’s the end justifying the means and I think the end is about personal greed and power and not righting the processI’d be surprised if that’s under serious consideration. It’s a pipe dream and nothing more of the American Right.
The stated aims Trump has outlined is:
- bring manufacturing jobs to America
- trade equalisation / revenge
- lowering tariffs
It’s a bit all over the place but given that the US and UK have some of the most liberal MFN regimes globally, there’s a certain rationale to aggressively force a change to that current state of affairs.
After all, the traditional diplomatic means have failed in getting China to engage in free and fair trade and opening up the EU and India’s protectionist tendencies.
I’m interested to see how it all pans out, if there’s an economy that can throw its weight around to this extent, it’s the USA.
The US imposes a 25% on light trucks and vans etc versus the 10% reciprocal.
Then it’s the end justifying the means and I think the end is about personal greed and power and not righting the process
NoAs part of the new measures, yes. Pre-Liberation Day that figure was one tenth of that.
Does this sentiment apply to the EU and Indiawho imposes high tariffs?
As part of the new measures, yes. Pre-Liberation Day that figure was one tenth of that.
Yes I actually think we should switch off all reliance on the World, Byyyeeee!Trump wants to restore the US to a system where nobody is taxed and the government income is primarily from tariffs. That was before any semblance of a welfare state.
19th century economic policy in a 21st century world that will benefit the robber barons and few others.
The US has taken the gift from James Berners Lee and done not what he intended I'd wager, must be some back taxes due by now!!I’m a hypocrite
I agree but I think Tim would be quite annoyed.The US has taken the gift from James Berners Lee and done not what he intended I'd wager, must be some back taxes due by now!!
Bugger.I agree but I think Tim would be quite annoyed.
I’m sure I read before that overall tariffs between the EU and USA are more less equal and actually very low. It’s obvious that this isn’t what it’s about though.The US imposes a 25% on light trucks and vans etc versus the 10% reciprocal.
They are about 3% trump says they’re 39% but seems to be basing calculations on trade deficit rather than tarriffI’m sure I read before that overall tariffs between the EU and USA are more less equal and actually very low. It’s obvious that this isn’t what it’s about though.
Yep, exactly.They are about 3% trump says they’re 39% but seems to be basing calculations on trade deficit rather than tarriff
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