The Tariff Thread

[GGG]

Originally Posted by Slava

Did I read that it's tariffs on everyone but Russia because they're losing 2500 people a day? He's outdone himself...

Russia is the only place he can reliably replace Canada and China in terms of raw materials.

[getbak]

https://bsky.app/profile/alexsaysstu.../3llucp5zqrc2j

Dr Alex Cruikshanks ‪@alexsaysstuff.bsky.social‬

Trump is imposing a 10% tariff on the Heard and McDonald Islands.

The Heard and McDonald Islands are uninhabited.

He probably thought it would bring down the price of a Big Mac.

[Swift]

Haha, such an incompetent administration. Sounds like they literally just googled a list of places in the world and threw 10% tariffs at them. Here's the full list - https://www.forbes.com/sites/mollybo...ced-wednesday/

The thing is the number in the left column is the number that the US claims the other country is already tariffing them. Indicating that much of this is just made up bull####.

[Bring_Back_Shantz]

Someone needs to do a comprehensive search to figure out which Wikipedia article that list of countries, in that order, came from

[FlamesAddiction]

Originally Posted by Swift

Haha, such an incompetent administration. Sounds like they literally just googled a list of places in the world and threw 10% tariffs at them. Here's the full list - https://www.forbes.com/sites/mollybo...ced-wednesday/

The thing is the number in the left column is the number that the US claims the other country is already tariffing them. Indicating that much of this is just made up bull####.

It's about time someone put Lesotho in their place. They have been living the highlife for too long with all that sweet tariff money.

[puffnstuff]

Futures market tanked before trump even finished talking.

Gee how on earth did this guy go bankrupt 6 times...its a mystery.

[Drak]

Originally Posted by Slava

Did I read that it's tariffs on everyone but Russia because they're losing 2500 people a day? He's outdone himself...

Russia owns and operates the US now.

[MarchHare]

He's just so monumentally stupid with absolutely zero understanding of how anything actually works.

https://twitter.com/user/status/1907559189234196942

[Mathgod]

If you operate a store, I walk in and I buy something from you, am I "subsidizing" you? No. You provided me with something I need or want, and in exchange I paid you the amount of money that made it worth your while. It's a mutually beneficial transaction. There's no subsidizing going on. Same thing with trade. The idea that a trade deficit means you're subsidizing the other country, is nonsense.

[Fuzz]

Originally Posted by MarchHare

He's just so monumentally stupid with absolutely zero understanding of how anything actually works.

LOL, that explains the order. If you look here at Exhibit 14 or 14a
.https://www.census.gov/foreign-trade...ease/ft900.pdf


source page:
https://www.census.gov/foreign-trade/data/index.html


It's basically descending order of trade deficits.

[FlamesAddiction]

Originally Posted by Mathgod

If you operate a store, I walk in and I buy something from you, am I "subsidizing" you? No. You provided me with something I need or want, and in exchange I paid you the amount of money that made it worth your while. It's a mutually beneficial transaction. There's no subsidizing going on. Same thing with trade. The idea that a trade deficit means you're subsidizing the other country, is nonsense.

Yup, there is no logic to his train of thought.

On top of that, the U.S. has the 3rd highest population in the world and is one of the wealthiest countries. Of course they are going to buy more stuff from countries that have fewer people and less wealth. That's how it works. They can't match you dollar for dollar.

In the case of Canada, they have 10x the population as us and if you took oil out of the equation, they actually had a trade surplus with us on mostly everything else, which is actually pretty phenomenal. So if he thinks that means subsidizing, then we were subsidizing many of their industries. When you add services into it, which many of these trade surplus/benefit charts don't include, it skews it even more as we use way more services from the U.S. than vice versa.

Even if one doesn't want to separate oil from it and just look at total deficit, the oil imported from Canada is to keep Americans working. All those jobs make it a net benefit for them. Looking at it as a simple trade surplus or deficit doesn't account for the spin off benefits.

Canadian tourists also spend about $20 billion a year in the U.S., which is certainly going to fall after all this.

[Nancy]

Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security

For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.

What does "non-USMCA compliant energy" mean?

[KootenayFlamesFan]

https://twitter.com/user/status/1907578492704710663

[Paulie Walnuts]

https://twitter.com/user/status/1907589099755651102

[KootenayFlamesFan]

https://twitter.com/user/status/1907597572669321511

that surpasses the roughly 20% tariff rate the united states charged following the infamous smoot-hawley tariff act of 1930, which set off a global trade war that economists say worsened the great depression.

[Scroopy Noopers]

Originally Posted by KootenayFlamesFan

https://twitter.com/user/status/1907597572669321511

Hmmmm who on earth would want the entire world to feel economic hardship as a retaliatory measure??? It’s a complete ####ing mystery.

[MRCboicgy]

I'd say he's the dumbest person on the planet, but all the people who voted for &/or support him are dumber.

[OldDutch]

Originally Posted by Nancy

Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security



What does "non-USMCA compliant energy" mean?

This one I actually kind of understand. Mainly the compliance part is to prevent China from dumping products into Canada and Mexico and passing them into the US to avoid tariffs.

During the first Trump term and later Biden, China resorted to this circumvention.

My guess is this is to avoid the situation where foreign oil and fertilizer does the same thing.

To be compliant the manufacturer needs to register the material/good with clear country of origin. There is apparently a large volume of goods that are not registered, many intentionally to circumvent tariffs.

[Paulie Walnuts]

Rand Paul pushing back hard on these dumb tariffs especially against Canada.

[Jason14h]

Originally Posted by KootenayFlamesFan

https://twitter.com/user/status/1907578492704710663

You’re all welcome for all the Bourbon I drink