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Trump temporarily drops tariffs to 10% for most countries

cnbc.com

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Re: Trump temporarily drops tariffs to 10% for most countries

#101

Post by Icingdeath »

thehappypm wrote: post #17
lysace wrote: post #7

My dream scenario: The rest of the world would band together and upper the mininum tariffs levels against US imports to 10% for 90 days.

[flagged]

I think it's not that bad, when you consider all goods ands services:

"For technical reasons, there is not one “absolute” figure for the average tariffs on EU-US trade, as this calculation can be done in a variety of ways which produce quite varied results. Nevertheless, considering the actual trade in goods between the EU and US, in practice the average tariff rate on both sides is approximately 1%. In 2023, the US collected approximately €7 billion of tariffs on EU exports, and the EU collected approximately €3 billion on US exports."

https://ec.europa.eu/commission/presscorner/detail/en/qanda_...

Re: Trump temporarily drops tariffs to 10% for most countries

#102

Post by outer_web »

dboreham wrote: post #28
bgirard wrote: post #9

Earlier quoted context omitted.

Lots of stocks are up 10-15% instantly after this announcement. Curious if we'll get reports of suspicious options volume capitalizing on this information.

Well I bought this morning (not a large trade), based not on insider information but on the obvious outcome. Also the dynamic signal that Trump spent 2h spewing utter nonsense at a donor dinner last night, but the market didn't go down this morning. Signaling that something was in the works one way or another. Edit: best to note that Trump is still doing plenty to destroy the US economy, so be careful out there.

Yesterday the indexes started up 3-4% and finished down at least as much. Risky move but congrats.

Re: Trump temporarily drops tariffs to 10% for most countries

#103

Post by fragmede »

Terr_ wrote: post #19
bhouston wrote: post #2

If anyone had advanced warning, you could have made a fortune today: https://www.marketwatch.com/livecoverage/stock-market-today-...

Remember how every other President put their assets into a blind trust? Shit like this is why! It deterred them from firebombing the entire goddamn economy to make a buck for their friends and followers!

Jimmy Carter's peanut farm remembers.

Re: Trump temporarily drops tariffs to 10% for most countries

#104

Post by freetanga »

The stock exchange and the tariffs are not the battleground.

Asia started dropping US treasury bills. 30 year bills reached a max in decades

Trump blinked.

Edit: this was front and center in Financial Times, WSJ three hours ago. Now suddenly pushed back, exchange rally being front page news. People don’t understand how close to financial apocalypse we have been. Somebody in the WH scared the shit out of Trump.

Re: Trump temporarily drops tariffs to 10% for most countries

#105

Post by WillAdams »

Terr_ wrote: post #19
bhouston wrote: post #2

If anyone had advanced warning, you could have made a fortune today: https://www.marketwatch.com/livecoverage/stock-market-today-...

Remember how every other President put their assets into a blind trust? Shit like this is why! It deterred them from firebombing the entire goddamn economy to make a buck for their friends and followers!

I remember how Jimmy Carter had to sell the family farm because it was viewed as a potential conflict of interest and how Mitt Romney's father, when making his run, when asked for a single year of tax returns made them all public, arguing that a single year could easily be manipulated to show anything, and that only by seeing the entirety of multiple years could an accurate evaluation be made.

Re: Trump temporarily drops tariffs to 10% for most countries

#107

Post by fancyfredbot »

Too late for everyone who spent massively on flying in stock ahead of the tariff deadline. Too late for those forced to sell financial assets in order to pay margin calls. Too late for those working on projects involving foreign manufacturers which have now been cancelled due to tariff uncertainty. Too late for those who lost sales while they figured out pricing. Too early for the people fundraising to build US manufacturing capabilities. What a mess.

Re: Trump temporarily drops tariffs to 10% for most countries

#108

Post by timewizard »

valzam wrote: post #79
davidw wrote: post #33

One thing companies love is lots of uncertainty like this. It keeps their accountants entertained! "Maybe we should build a factory in the US" ... 24 hours later ... "well, not today". What's really amazing is all the muttering from "Very Important Wall Street" type people who are saying that he's insane. Like... with that kind of salary, weren't you paying attention? We've known he wasn't right in the head for a whi…

Absolutely no one was seriously considering building a factory in the US based on the insansity of last week

Thailand is a good example. They have about $40b (USD) in balance of trade going the wrong way. Their initial ideas were simply to import more american petroleum, vehicles and aircraft. This likely could have accounted for more than half the difference and significantly reduced their tariff rate by just changing suppliers of already imported products.

The US news is pretty useless here. It's more nuanced than they would like to admit. Foreign sources of news are the most instructive as they're actually covering the options realistically.

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