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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

#791

Post by SpaceManNabs »

roxolotl wrote: post #479

Aside from everything else one thing what strikes me as particularly insane is how it’s not even defensible as a protective measure. My favorite everyday olive oil comes from Tunisia. They now have a 38% tariff on them. There are no out of work olive farmers in the US. The orange man wanted tariffs, the orange man is going to get tariffs. Now we have to hope the American people aren’t so dumb as to still be convinced…

> what strikes me as particularly insane is how it’s not even defensible as a protective measure

You must not have read many of the comments here. Way too many people are trying to defend this just because they don't want to have to admit that they were wrong on Trump being better for the economy.

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

#792

Post by bitshiftfaced »

TrackerFF wrote: post #377
doener wrote: post #225

"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

...and every country USA has a positive trade with, will get slapped with the 10% tariff. Every country on the table Trump posted, that have received the 10% tariff, the US have a positive trade with. No winners in this one.

Not saying I agree with it, but Trump has communicated that ideally these international companies would build factories in the US. There would be no point in doing that if not for some floor tariff.

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

#793

Post by SpaceManNabs »

thuanao wrote: post #789

Just like Trump said, he could shoot someone on the street and the bootlickers here would still justify it.

This thread is all you need to know that PG types are ok with losing 10-50% of their equity's value as long as they can play tribal politic games.

PG is on X every day pretty much going "Why is trump doing this? There must be a reason!"

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

#794

Post by dpedu »

iteratethis wrote: post #75

This 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…

If this is true, why are US wages stagnating?

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

#795

Post by ge96 »

ck2 wrote: post #731
TaurenHunter wrote: post #599

I don't see anyone mentioning that the United States needs to manage its massive national debt, currently in the trillions, by issuing Treasury securities. These securities mature at varying intervals and require continuous "rolling" or refinancing to pay off old debt with new borrowing. Significant rollovers are expected from April through September 2025, with additional short-term maturities due by June. Higher int…

The F-35 jet will cost over $1.5 Trillion, doesn't work and won't be used Cancel it and stop making everyone's daily life absolute hell by doubling the prices of groceries, car payments, etc. every month National Debt is not a problem for a country that will be around for 1000+ years unless you know of something that is going to greatly shorten that. There are nearly 1,000 BILLIONAIRES in the US, the debt is their pr…

> doesn't work

I don't understand, they're being flown all over

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

#796

Post by DarkNova6 »

aurareturn wrote: post #372
doener wrote: post #225

"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

Vietnam: Exports 136.6, Imports 13.1 Deficit = 123.5 Taking Vietnam as an example, keep in mind that the trade deficit calculation only uses physical goods. Vietnam exports low value physical goods to the US. The US sells high value non-physical services such as Microsoft office, ChatGPT, Netflix, Facebook ads, iOS Appstore fees, iCloud subscriptions, etc to Vietnam. Other services include engineering consultants, US…

This is such an obvious fact and the fact that not more people see through this is insane to me.

The "trade deficit" is an arbitrary number unrepresentative for what the US makes the most money with.

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

#797

Post by froggertoaster »

roxolotl wrote: post #479

Aside from everything else one thing what strikes me as particularly insane is how it’s not even defensible as a protective measure. My favorite everyday olive oil comes from Tunisia. They now have a 38% tariff on them. There are no out of work olive farmers in the US. The orange man wanted tariffs, the orange man is going to get tariffs. Now we have to hope the American people aren’t so dumb as to still be convinced…

I think you started to form a persuasive argument, but you discredit yourself by saying "orange man".

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

#798

Post by brokencode »

wayeq wrote: post #670
roxolotl wrote: post #479

Aside from everything else one thing what strikes me as particularly insane is how it’s not even defensible as a protective measure. My favorite everyday olive oil comes from Tunisia. They now have a 38% tariff on them. There are no out of work olive farmers in the US. The orange man wanted tariffs, the orange man is going to get tariffs. Now we have to hope the American people aren’t so dumb as to still be convinced…

If Jan 6th didn't dissuade people, I don't think anything will. Additionally, his base will not blame him, they will swallow whichever of the many narratives the propagandists are currently cooking up that suites their fancy.

I disagree with this. Jan 6th didn’t affect 99% of peoples lives directly. It was clearly bad, but few people saw impacts in their own lives.

Higher prices and a possible recession will affect every person in the country and even globally.

His MAGA base might not blame him, but that’s only like 30-40% of the electorate. The other 60-70% won’t be happy if their lives are negatively impacted.

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

#799

Post by klipt »

piokoch wrote: post #765
svara wrote: post #750

It's true that free trade is hugely beneficial to the US economy as a whole, particularly with the USD being the reserve currency. The flow of goods is balanced by a flow of US dollars to other countries, which are ultimately cycled back into the US financial system - enabling budget deficits and an abundance of capital to invest in high growth industries. The flip side of this is that it also drives inequality - the…

Nope. It's true that free trade WAS hugely beneficial to the US economy as a whole. Now free trade is hurting USA economy and that's why USA play against the rules they were promoting for so long.

> Now free trade is hurting USA economy

Then why is the economy crashing under these new tariffs when it was recovering nicely just a few months ago?

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

#800

Post by mlinhares »

ajross wrote: post #753
svara wrote: post #750

It's true that free trade is hugely beneficial to the US economy as a whole, particularly with the USD being the reserve currency. The flow of goods is balanced by a flow of US dollars to other countries, which are ultimately cycled back into the US financial system - enabling budget deficits and an abundance of capital to invest in high growth industries. The flip side of this is that it also drives inequality - the…

You're arguing from a steady state. In point of fact the pain of the at-this-point-seemingly-inevitable recession is absolutely going to be concentrated on the working class. Those of us with savings and work flexibility will do just fine. Even someone making a first principles argument for a revision of US trade policy should agree that this is insane.

its also assuming there is any plan here do get somewhere, they just asked chatgpt for number, it spewed them out and those became the final numbers.

there's no plan for anything here.

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