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

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

#401

Post by virgilp »

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…

Trump told you, I don't know why you still wonder what's the plan: https://www.reuters.com/world/us/trump-tells-christians-they...

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

#402

Post by deadbabe »

TheAlchemist wrote: post #398

I would bet that most of these tarrifs won't exist in He's been playing this game for 2 months now with Canada and Mexico, and so far he's loosing. US & business are loosing even more. Keeping this kind of tarrifs, would be absolutely moronic even by Trump standards. That would be economic and financial suicide for the US.

Doesn’t matter if they’re gone in 6 months. The damage is done, businesses will see the United States as too unstable and unreliable to plan long term goals in. We will pay the penalty for decades. Even if you get a new administration, that administration can be gone in another 4 years.

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

#403

Post by gadders »

If anyone is interested, you can find the US's assessment of the tariffs imposed on the US by other countries here: https://ustr.gov/sites/default/files/files/Press/Reports/202...

EG:

"The UK has duties on approximately 5,000 tariff lines, including on certain agricultural products, ceramics, chemicals, bioethanol, and vehicles. Tariffs on some products such as bananas, raw cane sugar, and apparel, which tend not to be import sensitive for the UK, are maintained to provide for preferential access for imports from certain developing countries into the UK compared to the MFN rate. The UK has some high tariffs that affect U.S. exports, such as rates of up to 25.0 percent for some fish and seafood products, 10.0 percent for trucks, 10.0 percent for passenger vehicles, and up to 6.5 percent for certain mineral or chemical fertilizers"

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

#404

Post by zero_k »

TheAlchemist wrote: post #398

I would bet that most of these tarrifs won't exist in He's been playing this game for 2 months now with Canada and Mexico, and so far he's loosing. US & business are loosing even more. Keeping this kind of tarrifs, would be absolutely moronic even by Trump standards. That would be economic and financial suicide for the US.

This is not a game. Others will not take it as a game, and will retaliate. You can only play the bully for so long before others start treating you as a bully, and stop backing down, even after you have backed down -- as they never know when you are bluffing.

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

#405

Post by huijzer »

hayst4ck wrote: post #297

The 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…

> Ray Dalio's Principles for Dealing with the Changing World Order feels prescient

Maybe Dalio is right, but a lot of his data was sketchy [1].

My personal theory is that Dalio somehow benefits from saying nice things about the Chinese regime.

[1]: https://youtu.be/s1iv0q_SW3E

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

#406

Post by ptero »

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…

> hot takes "they have no idea what's coming" are I believe naive. They know. They just don't care

I think they know, they care and decided that it is a reasonable way forward given very limited (trade and budget deficit) options. Otherwise I think you are spot on.

To spitball some ideas on your midterm comment (again, agree to it). One possibility is they see it as an unavoidable loss, plan on using veto to maintain course set during the first 2 years (which is why they rush) and hope to be in the updraft phase by the November 2028 elections. Maybe.

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

#407

Post by cbeach »

Why haven't we questioned the asymmetric high tariffs imposed by the EU on America for decades?

The EU imposed a 10% tariff on US cars for decades while the US only imposed 2.5% on the EU. And this happened while the EU exerted a significant trade surplus against the US on automobiles.

I don't advocate trade wars, but I can understand the case for some rebalancing, given the historic context. Hopefully Trump will only use tariffs as a negotiating tool, and they will soon be lifted. He's a dealmaker.

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

#408

Post by 0xy »

Gasp0de wrote: post #353

A possible retaliation by the EU could be to not enforce US intellectual property rights in the EU anymore. Or we could start taxing cloud companies, who, until now, have not paid taxes in the EU for profits that they generate in the EU.

The DMA is already a tax on US tech companies specifically, given it is enforced exclusively against US tech.

Hence the retaliatory tariffs. The backdoor taxes through 'laws' (that are NEVER enforced against EU companies -- Spotify got a DMA carve-out).

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

#409

Post by Zanfa »

thiht wrote: post #220
mcoliver wrote: post #92

Here's a csv and google sheet of the data. Turns out they aren't tariffs countries charge us. They are trade imbalance percentages. Unreal: https://docs.google.com/spreadsheets/d/1xK0OQ5VGl8JHmDSIgbXh... https://gist.github.com/mcoliver/69fe48d03c12388e29cc0cd87eb...

Funny how Russia is absent from the list

At this point, Trump could hoist the russian flag at the white house and republicans would still turn a blind eye.

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

#410

Post by cbeach »

hnburnsy wrote: post #33

Current EU tariffs on US goods... Product Category Tariff Rate ----------------------------- -------------- Dairy Products (e.g., cheese, butter) Up to 50% Processed Foods (e.g., chocolate, confectionery) 30-40% Alcoholic Beverages (e.g., whiskey, bourbon) 25% Steel and Aluminum Products 25% Automobiles 10% Industrial Goods 5-10%

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