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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

#491

Post by sitkack »

SoyAnto wrote: post #411
outer_web wrote: post #216

Lot of whiplash with these tariff policies. I'm wondering if maybe it'd be a better idea to give* Congress this power instead.

Congress does have the power (article I, section 8), however it delegated this power to the president for "extraordinary" situations with certain laws.

> The nondelegation doctrine is rooted in certain separation of powers principles.1 In limiting Congress’s power to delegate, the *nondelegation doctrine exists primarily to prevent Congress from ceding its legislative power to other entities* not vested with legislative authority under the Constitution. As interpreted by the Court, the doctrine seeks to ensure that legislative decisions are made through a bicameral legislative process by the elected Members of Congress or governmental officials subject to constitutional accountability.2 Reserving the legislative power for a bicameral Congress was "intended to erect enduring checks on each Branch and to protect the people from the improvident exercise of power by mandating certain prescribed steps."

https://constitution.congress.gov/browse/essay/artI-S1-5-1/A...

Any democrats with working brain stems and genitals should be taking this to supreme court.

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

#493

Post by magicloop »

neilwilson wrote: post #452
magicloop wrote: post #397

"It’s the T-bills wot dun it." That’s my read on why the U.S. just paused the global tariff hike to 10%. From the beginning, I’ve believed the executive branch's real goal was to push down the yield on the 10-year Treasury. Why? Because Uncle Sam has to refinance a mountain of debt this year, and the cost of that depends heavily on Treasury yields — especially the 10-year. That’s the rate that sets the tone for every…

The only aggregate alternative to holding T-bills is to hold dollar bank accounts. At which point the bank holds the T-bills instead or the Fed does as balancing assets to the account liability. It could all be refinanced to three month bills without any issue at all. Ultimately balance sheets have to balance. In a floating exchange rate system there is no aggregate out.

You are correct on the mechanism here. But my point is adjacent to that. Whilst you always get a buyer for the debt (here the bank), it is the yield that matters as the re-financing cost cannot be escaped irrespective of the owner.

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

#494

Post by eftychis »

hello_computer wrote: post #342
Animats wrote: post #315

Possibly because lawsuits challenging the power of the President to impose tariffs under the Emergency Economic Powers Act are underway.[1] GOP support for Congress taking back control of tariffs is building.[2] At some point, Congress or the courts will take his toys away. [1] https://www.newsweek.com/trump-tariffs-hit-lawsuit-group-his... [2] https://thehill.com/homenews/senate/5236142-congress-tariff-...

Seems kinda crazy that so much power was ever vested in the president. https://www.congress.gov/crs-product/R48435

Laziness and fear of the closet monster beget tyrants.

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

#495

Post by [deleted] »

xracy wrote: post #423
coldpie wrote: post #163

Earlier quoted context omitted.

> How are businesses supposed to plan anything in this environment? Who cares? Business leaders & the politicians they helped elect are stripping the copper from the country. Whatever's left when they're done is someone else's problem.

I'm gonna say 'yes, but' instead of 'yes, and'. Yes, but the big problem is that these same business leaders and politicians are going to be the ones who get first bite at the apple. And so how they plan is going to impact what's left for everyone else. I don't care because they burned the system to the ground, I care because they're gonna salvage what they need and nothing else.

[deleted]

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

#496

Post by kowabungalow »

compumike wrote: post #305

Is it just the historical legacy of international trade that tariffs apply only to physical goods, but not to something like software-as-a-service subscriptions, digital media, or intellectual property? As the latter categories are more representative of US exports, it would surely be an interesting escalation if other countries were to start including them in their “retaliatory” tariffs.

I'm also not sure why other countries aren't moving to criminalize trading crypto to try to tank him and his cronies since the US has given up on preventing presidential conflict of interest.

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

#497

Post by rectang »

robofanatic wrote: post #465

I almost bought some bluechip stocks yesterday but changed my mind thinking it may dip further. But my luck is such that it would have actually dipped if I had bought. With my luck these days no matter what I choose, I lose. ¯\_(ツ)_/¯

If it was that easy to "catch a falling knife", everyone would do it.

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

#498

Post by johnnyanmac »

magicloop wrote: post #397

"It’s the T-bills wot dun it." That’s my read on why the U.S. just paused the global tariff hike to 10%. From the beginning, I’ve believed the executive branch's real goal was to push down the yield on the 10-year Treasury. Why? Because Uncle Sam has to refinance a mountain of debt this year, and the cost of that depends heavily on Treasury yields — especially the 10-year. That’s the rate that sets the tone for every…

>Because when your national budget depends on cheap debt, you can't afford a crisis of confidence in your bonds.

Well the US is still having a dick measuring contest with its largest importer, so no worries. We'll still get plenty of crisis from that alone.

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

#500

Post by AnimalMuppet »

magicloop wrote: post #397

"It’s the T-bills wot dun it." That’s my read on why the U.S. just paused the global tariff hike to 10%. From the beginning, I’ve believed the executive branch's real goal was to push down the yield on the 10-year Treasury. Why? Because Uncle Sam has to refinance a mountain of debt this year, and the cost of that depends heavily on Treasury yields — especially the 10-year. That’s the rate that sets the tone for every…

I'm not saying you're wrong. But 10-year yields are up for the day, so if he was trying to calm the bond markets, it didn't work.
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