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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

#691

Post by SubiculumCode »

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…

Being boring is profitable.

You want to do tariffs for national security reasons? Okay. I get it. Now get congress to pass a bill levying the tariff, have that bill be smart, encourage not just on-shoring, but also near-shoring (Mexico, Canada) of key manufacturing and minerals, apply the tariffs more strongly against the key geopolitical rivals (China), implemented in a graded, predictable manner. Do not piss of every ally in the world, in general pursuing this hierarchy U.S. > Mexico, Canada > European, African, and Pacific Allies > China, Russia. Finally, for key , and highly specific strategic industries, provide subsidies.

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

#692

Post by michpoch »

mk89 wrote: post #364
StormChaser_5 wrote: post #86

It's not like the tariffs are gone. It's still 10% for everyone but China. That only seems small in comparison to what was being proposed before. I wonder will EU and others wait out 90 days while negotiating or match the 10% in kind

If USA keeps 10% tariffs for everyone equally, why should we interfere? Serious question. I believe that Trump is shaking things off, but his goal is to introduce a fixed "tariff" like a soft VAT. He is just testing (and profiting with $$$$$) what happens when you do things like 30% there, 24% there, etc. But his long term goal is a fixed tax. In that context, who are we to judge them? We also have VAT on imports.

> We also have VAT on imports.

And the US has sales tax.

VAT is paid on all products, it doesn't matter if it's domestic or imported!

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

#693

Post by JasserInicide »

Terr_ wrote: post #19
bhouston wrote: post #2

If anyone had advanced warning, you could have made a fortune today: https://www.marketwatch.com/livecoverage/stock-market-today-...

Remember how every other President put their assets into a blind trust? Shit like this is why! It deterred them from firebombing the entire goddamn economy to make a buck for their friends and followers!

I remember when presidents used to divest themselves of their private holdings. That went out the window in 2017

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

#694

Post by Swenrekcah »

jeswin wrote: post #671

Contrarian opinion. Irrespective of what you think of Trump, decentralization of production capacity is a good thing — maybe even essential. If this continued for, say, another twenty years, the West and the rest of the world would be completely stripped of all ability to defend themselves. Literally everything from picket fences to rolling stock to tableware is coming from one country.

This is not a contrarian opinion. This is a problem that was recognized long ago and production capacity for strategically important industries has been in the buildup both in Europe and the US.

Trump's actions will probably boost European, Canadian and Australian industries a bit more now. Investment in the US will be a hard sell for companies that care about the stability and level-headedness of governments where they operate.

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

#696

Post by ilamont »

Sgt_Apone wrote: post #610
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…

Seems they reversed course on that. Or, they don’t know what they’re doing. > It's been a confusing day. > As Verity said, it turns out Canada and Mexico are not getting a new 10 per cent tariff after all. > The White House reversed its earlier announcement in a new statement just now. Here's the bottom line: No new developments for Canada and Mexico today. > That means there are still worldwide 25 per cent tariffs o…

> Or, they don’t know what they’re doing.

Occam's Razor.

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

#697

Post by daxfohl »

jdlyga wrote: post #284

Trump is like your father who overreacts to everything but changes his mind when he calms down. "You're grounded for a year!". 1 hour later. "Ok, you're not grounded. But you can't go out with your friend this weekend".

I'd liken him more to some rich kid trying to show off some made-up street cred by going over the top on everything. Eventually walking everything back while shouting dumb threats once he realizes he's in over his head. Then somehow he forgets it all and does the same dumb thing the next day. Every single time.

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

#699

Post by munificent »

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.

Trump thinks of himself as a powerful, insightful deal-maker. He pathologically needs to feel like he is doing something and his comfort zone for what kinds of things to do is "stuff that feels like business deals".

He knows very little about government and policy, but tariffs and dollars and percentages feels familiar to him. He's got a lever, and he can't resist yanking on it to show that he's in charge.

Whether yanking on the lever actually benefits the country or him is entirely besides the point. He's a narcissist and narcissists can't let go.

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

#700

Post by johntb86 »

mort96 wrote: post #637
snickerbockers wrote: post #556

Earlier quoted context omitted.

>software-as-a-service subscriptions when people in other countries use that at a non-trivial scale, aren't the servers on the other end of the connection still located in their region?

Sure, but when we pay our AWS bills, that money still goes to Amazon which is US-based, even though we servers we rent are in Frankfurt.

Does it actually go to the US corporation, or to some European subsidiary?
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