what would happen to US??? I mean you cant ignore US market right now
so is this enough that factory gonna comeback on US soil??
US Administration announces 34% tariffs on China, 20% on EU
341–350 of 1001 posts
Re: US Administration announces 34% tariffs on China, 20% on EU
#342"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
Holy cow! I had to check for myself: there are even more data points on trade balance for all countries at https://www.census.gov/foreign-trade/balance/index.html (whereas @orthonormalist used a partial list from wikipedia) and the percentages I calculate line up exactly with the Trump's full list of "Tariffs Charged to the USA" percentages ( https://x.com/RapidResponse47/status/1907541343250878752 ) !! Specifically…
Edit: someone said it doesn't work for Japan but it does. Every country I checked by hand matches the figures exactly... For Japan the figures are from https://www.census.gov/foreign-trade/balance/c5880.html and their 2024 trade balance is: 79,740.8 (exports) and 148,208.6 (imports) so 1-79740/148208 = 0.46 which matches the 46% "Tariffs charged to the USA
" from the table shown by Trump...
Re: US Administration announces 34% tariffs on China, 20% on EU
#343From 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…
De minimis exemption expiring has been a planned thing for years through administrations of both parties. Trump admin has been delaying the already planned expiration during the Biden years to use as a negotiating carrot.
Basically it just means Temu/Aliexpress/Etc. will ship their goods to the US in bulk instead of bypassing customs on individual small orders, and distribute from domestic warehouses, having to now compete with US producers who do the same thing.
It does completely kill any business built on dropshipping individual orders from chinese factories without ever touching inventory however.
Re: US Administration announces 34% tariffs on China, 20% on EU
#344[dead]
Re: US Administration announces 34% tariffs on China, 20% on EU
#345[dead]
Re: US Administration announces 34% tariffs on China, 20% on EU
#346This 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…
Can you blame the new generations for not wanting to work their asses off doing arduous manual labor, payed a minimum wage that is barely enough to afford a single room?
Republicans made work awful. I've heard some wanting to get rid of minimum wage too. Do you think this will help?
Re: US Administration announces 34% tariffs on China, 20% on EU
#347The golden prize for America's enemies is to remove the US dollar as a global reserve currency. Since trade is conducted largely in USD, that means other governments must purchase USD to trade. This is the core of trade deficits. Foreign countries buy US dollars so they can trade with other people. That guarantees the deficit since they give us something in exchange for USD, which they do not then spend on goods we m…
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Re: US Administration announces 34% tariffs on China, 20% on EU
#348Liberation day indeed... when Canada/Australia/Europe/South Korea/Japan are now the enemy I'm not sure there are any more friends left.
Re: US Administration announces 34% tariffs on China, 20% on EU
#349The golden prize for America's enemies is to remove the US dollar as a global reserve currency. Since trade is conducted largely in USD, that means other governments must purchase USD to trade. This is the core of trade deficits. Foreign countries buy US dollars so they can trade with other people. That guarantees the deficit since they give us something in exchange for USD, which they do not then spend on goods we m…
> This is a decapitation strike on America by our enemies.
> if foreign governments spend money, they can elect their preferred candidates.
> We institute regime change in other counties, and I see no reason to believe we are immune.
Do we really need such conspiracy theories? There's a much more mundane explanation, which is well-documented:
"Trump’s Love for Tariffs Began in Japan’s ’80s Boom" https://www.nytimes.com/2019/05/15/us/politics/china-trade-d...
"Allies and historians say that his admiration of tariffs is one of his longest and most deeply held policy positions."
In the 1980s, Russia still had a state-run socialist economy, and China was just beginning to grow (albeit quickly) after its 1978 economic reforms. These countries did not purchase Donald Trump's policies.
If you're concerned about foreign influence and foreign money in American elections, you should be much more worried about Australian Rupert Murdoch, for example, who founded Fox News, or South African Elon Musk, who just spent a whopping $250 million to elect Donald Trump and is now personally dismantling the US government (although Musk's money didn't help in the local Wisconsin election), or Israel, which has had one of the most powerful and well-financed lobbies in Washington for decades.
Re: US Administration announces 34% tariffs on China, 20% on EU
#350I 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…
> ... they know what's going to happen
While we cannot predict the future, it's moving faster. The world system is under immense stress. Complexity at this scale increases the chance of black swans and unpredictable outcomes. Many powerful actors are reacting simultaneously in divergent directions, which can reshape the trajectory altogether. We are vulnerable to cascading surprises.