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US Administration announces 34% tariffs on China, 20% on EU

bbc.com

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Re: US Administration announces 34% tariffs on China, 20% on EU

#121

Post by fspeech »

hnburnsy wrote: post #56

The exemptions... >Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that ar…

Exempting chips alone doesn't make sense. Does Intel have to pay 20% on ASML lithography machines or more on Japanese ones? Meanwhile TSMC can fab chips in Taiwan and export to the US without tariffs.

Re: US Administration announces 34% tariffs on China, 20% on EU

#122

Post by JimBlackwood »

iteratethis wrote: post #75

This won't bring home manufacturing but let's say that it will... The US doesn't have the people to do the actual manufacturing. I saw a video recently explaining how sectors like the military, construction and the automotive industry each have 100K+ positions that they are unable to fill. A return to manufacturing adds to that shortage. Apparently there's some 7 million young men of working age that are...missing in…

The US has recently loosened laws regarding child labor. It’s how other countries produce items cheaply, why not the US?

That El Salvador prison could also come in useful.

Re: US Administration announces 34% tariffs on China, 20% on EU

#123

Post by Freedom2 »

VectorLock wrote: post #114

Someone figured out that the new tariffs are just our trade deficit with that country divided by the country's exports. I think more and more we see lots of evidence they don't know what they're doing.

So I'm guessing it's not important to tariff the penguins of Antarctic Island?

Re: US Administration announces 34% tariffs on China, 20% on EU

#124

Post by threeseed »

gigatexal wrote: post #57

Americans have been hurt for 50 years … yes manufacturing going overseas was a huge change and many administrations didn’t do enough to help affected workers. Buuuuuut - placing tariffs on our allies that will likely lead to a recession makes no sense. Devaluing the dollar and subsidizing production in the US makes far more sense. But I’m not an economist or anything.

> Americans have been hurt for 50 years

No they haven't. They've benefitted from it.

Because now most Americans don't slave away in unsafe factories 7 days/week for dollars an hour.

Re: US Administration announces 34% tariffs on China, 20% on EU

#126

Post by kergonath »

olejorgenb wrote: post #72

Can someone explain if there's any logic at all to counting a countrys VAT as part of its tariffs? In my home country VAT is ultimately charged the end-customer and this happens regardless of the origin of the goods. How can this be a seen as a tariff? Besides, isn't the "Use tax" most(?) American states have more or less equivalent in function?

> Can someone explain if there's any logic at all to counting a countrys VAT as part of its tariffs?

There is no logic. VAT isn’t tariffs and is not discriminatory. In the same way as trade imbalance is not theft. It’s just Trump trying to find reasons to complain and present the US as a victim.

Re: US Administration announces 34% tariffs on China, 20% on EU

#127

Post by johntitorjr »

ggm wrote: post #87

I think a lot of people assume the economic consequences like these have not been understood by the WH. Although I don't like this administration I beg to differ: they know what's going to happen, and they expect the coming storm because they seek what follows. They want to repudiate foreign held debt, or devalue it, by revaluation of the USD and they will wear what they think of as a one time economic shock to get t…

[dead]

Re: US Administration announces 34% tariffs on China, 20% on EU

#128

Post by jquery »

ggm wrote: post #87

I think a lot of people assume the economic consequences like these have not been understood by the WH. Although I don't like this administration I beg to differ: they know what's going to happen, and they expect the coming storm because they seek what follows. They want to repudiate foreign held debt, or devalue it, by revaluation of the USD and they will wear what they think of as a one time economic shock to get t…

This sounds like typical NYT sane-washing. After the Signal fiasco I've lost all confidence this administration is secretly super competent but just refuses to let any of us see it. There is no big plan here. This is just an old man surrounded by too many yes-men.

Re: US Administration announces 34% tariffs on China, 20% on EU

#129

Post by apparent »

TrackerFF wrote: post #62

From what I understand, de minimis exemption has also been removed. That is a huge, huge deal. It effectively means that all goods imported from China will be slapped with a 30% import tax, as soon as said goods arrive the US border / customs. Usually what happens then, is that the courier will pay that tax, and then bill the recipient later on - as well as charge some fee/fees for the work done. This is why in some…

So is AMZN stock up?

Re: US Administration announces 34% tariffs on China, 20% on EU

#130

Post by dragonwriter »

VectorLock wrote: post #114

Someone figured out that the new tariffs are just our trade deficit with that country divided by the country's exports. I think more and more we see lots of evidence they don't know what they're doing.

> Someone figured out that the new tariffs are just our trade deficit with that country divided by the country's exports.

Note that the White House has both (1) officially denied this, (2) provided the formula they assert was used as support for that denial; but the formula is exactly what they are denying but with two additional globally-constant elasticity factors in the divisor, however, those elasticity factors are 4 and 0.25, so...

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