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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

#221

Post by heisenbit »

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 was a macro argument assuming a benevolent intention. However if we look purely at self interests the main thrust is to increase revenue on paper to cut taxes. At the same time raise debt ceiling. And when the tarifs proof unsustainable then well, we are in happy deficit spending land with no fault on the drivers side.

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

#223

Post by jbverschoor »

The whole table doesn't make sense. We (NL/EU) don't charge the US 39% to import . Apparently orange guy (not the Dutch) doesn't understand VAT rates.

Car? max 4.5 + 21% VAT = 25%. But it simply doesn't matter bc we don't want their cars.. Except for thee Dodge RAM, which can be converted to a tax efficient company car (crazy)..

What amazes me even more is that Elon doesn't seems to understand it either.

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

#224

Post by teruakohatu »

brabel wrote: post #158
phillipseamore wrote: post #90

A blanket 10% minimum tariff is a great excuse for any local US manufacturing to increase their prices. I used to live in a country with heavy tariffs, every time tariffs were raised the local producers increased prices to be just below the imports. Even after the tariffs were abolished the prices (on local and imports) never really lowered in any significant way.

That always seems to happen with this sort of protections. It's like when the government tries to incentivize people to buy electric cars by paying 25% of it (example from the climate bonus in Sweden, which was given for years), but what happens is that buyers actually end up paying just maybe 5% less as the car companies now can increase their prices and still sell the cars they produce while making more money.

That happened in New Zealand, where the govt. paid $5,000 for electric cars. When this subsidy expired, prices decreased by a few thousand.

If a consumer was willing to pay $20,000 for a car why would they sell it to them for less than $25,000 when the final bill to the consumer will be $20,000, with the govt. paying an extra $5,000.

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

#225

Post by doener »

"This guy cracked the tariff formula: @orthonormalist

It’s simply the nation’s trade deficit with us divided by the nation’s exports to us.

Yes. Really.

Vietnam: Exports 136.6, Imports 13.1 Deficit = 123.5

123.5/136.6 = 90%"

https://x.com/Geiger_Capital/status/1907568233239949431

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

#227

Post by mikewarot »

As a preview of our future, it's now a good time to review the decline of standard of living that occurred when Great Britain lost the privilege of having the World's reserve currency, the Pound Sterling.

My estimate is we're in for a 75% haircut to our personal standard of living as the US Dollar loses it's place, and we actually have to pay for everything we want in hard currency or real goods. Trump killed the golden Goose, and threw it into a wood chipper.

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

#228

Post by trallnag »

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…

What's up with the corresponding 7 million young women of working age?

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

#229

Post by satvikpendem »

reaperman wrote: post #144
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…

Here's a much more detailed analysis of the effects of the executive order: https://chatgpt.com/share/67ee10c6-4690-8006-83d7-8e9b22bccf... The practical takeaway is that the average household will spend $3,500-4,000 more as a result of the tariffs. Clothes, furniture, toys will be about 30% more expensive, electronics will be about 25% more expensive, tires and jewelry about 15% more expensive, and industrial buyers…

Do not post ChatGPT output on HN.

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

#230

Post by seszett »

nottorp wrote: post #206
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…

> This is why in some European countries, that $1 item from China with free shipping can end up costing $10, because you're paying $0.25 in VAT or import taxes, and $10 to the shipping courier for doing the paperwork. Not the big China exporters, not any more. They all include taxes in the price on your country specific web site, ship to their warehouses inside the EU, handle taxes and your local courier just deliver…

> Until Temu/AliExpress/etc sort out for the US the same system they use in the EU.

The thing is, the EU specifically set up a structure to make this easier for sellers and transparent for customers (the "import one-stop shop") and I don't see the US government doing any effort to make importations more seamless.

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