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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

#561

Post by seo-speedwagon »

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…

Trump's obsession with tariffs dates back to 1988 when he lost an auction for the piano from the movie Casablanca to a Japanese buyer. Afterwards, he started complaining about how all these other countries are ripping America off, and here we are.

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

#562

Post by peterfirefly »

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]

A reasonable compensation for the trade barriers in the US. If anything, it's too low.

Why do Peterbilt trucks still exist? Don't US truckers deserve to drive Scanias and Volvos?

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

#563

Post by snickerbockers »

kowabungalow wrote: post #496
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.

uhhhhh if you want bitcoin and etherium to moon the best thing you could do for the crypto-community would be to present it as a tangible threat to your country's political and financial elite due to existing outside the confines of their regulatory powers.

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

#564

Post by fsniper »

isleyaardvark wrote: post #311
Buttons840 wrote: post #234

Earlier quoted context omitted.

The President can only legally set tarrifs in an "emergency". Planning tarrifs 90 days out is really stretching the definition--I'm not holding my breath, but maybe the courts will uphold the constitution on this one?

Normally there are rules regarding how long an emergency can last. This is why, I kid you not, the Republican controlled Congress declared there are no more calendar days in this session of Congress. Every day is March 11. So they'll let him do it as long as he likes.

As a European I have no idea what that means. How and why that kind of decision can be taken?

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

#565

Post by IX-103 »

knowaveragejoe wrote: post #318
MaxHoppersGhost wrote: post #290

Earlier quoted context omitted.

EU and many other counties have already had tariffs on the US for a long time.

* EU and many other counties have had comparatively small and targeted tariffs on the US for a long time

Just like the US has had small and targeted tariffs on the EU for a long time (such as pickup trucks).

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

#566

Post by alickz »

foepys wrote: post #540
davidguetta wrote: post #469

Earlier quoted context omitted.

I still wonder why this was not done instantly by EU. US has an imbalance on goods that was used to calculate the tariff amount, but it has the opposite imbalance on service from what I've read

Easy: because next to 100% of EU government computers run Windows and MS Office.

Seems like a vulnerability

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

#567

Post by neogodless »

sva_ wrote: post #557
layer8 wrote: post #520

The 10% apparently also apply to Canada and Mexico now, which they didn’t before: > In a strange turn of events, the president seems to have added another 10 percent tariff to Canada and Mexico. Asked earlier if the 10 percent tariff extended to those countries, Scott Bessent, the Treasury secretary, said that it did. And a White House official clarified for me just now that that was the case. Previously, Canada and…

Like when an LLM does a tiny coding error that isn't too noticeable though.

"Oh! Well this is not a mundane detail, Michael!"

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

#568

Post by alpha_squared »

matt-p wrote: post #554
layer8 wrote: post #520

The 10% apparently also apply to Canada and Mexico now, which they didn’t before: > In a strange turn of events, the president seems to have added another 10 percent tariff to Canada and Mexico. Asked earlier if the 10 percent tariff extended to those countries, Scott Bessent, the Treasury secretary, said that it did. And a White House official clarified for me just now that that was the case. Previously, Canada and…

Also china has 125% tarriff but the reason that they couldn't originally give 10% to Vietnam was trans-shipment of Chinese goods. If it wasn't happening before, it certainly will be now. What's actually wrong with them.

I'm coming to the conclusion that the tariffs are a distraction. The 10% across the board appears more like a tax hike without calling it one while the focus on China is just the same old trade war from the first term with louder chest-beating.

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

#569

Post by sschueller »

matwood wrote: post #527
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…

> But then something flipped. The bond market is always the adult in the room. The UK PM lasted like 44 days when the bond market pushed her out [1]. In this case, the flip was that all the chaos led to people leaving behind the USD completely. Trumps view of the US/World is ~30+ years out of date. There are other stable places to put money now where it used to only be USD. [1] https://www.cnbc.com/2022/10/20/uk-prim…

The cabbage outlasted her...

https://x.com/jaayjayAT/status/1908793907976040839?t=aP60h4w...

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

#570

Post by m0llusk »

picafrost wrote: post #378

Very sad to see what is happening to the US. Sadder still to see it celebrated and defended by a large portion of the country. From over here in Europe, the apparent lack of accountability in the US right now is unbelievable. Where are the adults?

It is sad that opposition is not being acknowledged. There was a determined effort to restore Canada's tariffs to what they were that passed the Senate and was then blocked by an unusual maneuver from the speaker of the house which in turn got him excoriated by some Republicans in congress. Some of the biggest conservative power players and possibly the most famous and successful conservative lawyers are teaming up to challenge emergency executive tariff powers in court. Meanwhile US citizens retain high confidence in elections and Republicans nationwide are complaining in a panic that these moves will turn their precincts Democratic for decades.

But of course you are totally right. No adults anywhere. Keep thinking that Europe can count on others to pay for its defense while buying all the energy they need from Moscow. At least you have adults in the room, right?

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