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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

#961

Post by hello_moto »

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…

what you're saying in short is that the US economy has changed from Manufacture-based to Service-based, just like China.

People don't realize this but China is moving toward Service-based, naturally, as they raised their standard of living, thus education.

What's missing is not raising tax on Income but taxing Wealth: the super rich has their wealth sitting and growing unproductively (house appreciating is not productive, buying farm lands and rent it to other farmer isn't productive). Holding Limited version of a Ferrari isn't productive. Feel free to find other Assets.

Once the super rich completed their journey in this world, they will inherit billions to their kids, whose productivity output does not match the wealth they inherited, again, not productive.

Tax their Wealth.

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

#962

Post by mizzao »

hello_moto wrote: post #961
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…

what you're saying in short is that the US economy has changed from Manufacture-based to Service-based, just like China. People don't realize this but China is moving toward Service-based, naturally, as they raised their standard of living, thus education. What's missing is not raising tax on Income but taxing Wealth: the super rich has their wealth sitting and growing unproductively (house appreciating is not produc…

Even if this were implemented, any country taxing wealth would see a flight of capital to other countries not taxing it.

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

#963

Post by EasyMark »

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…

His approval numbers will decrease 20-30% over the next few months. Only the most cultish cultists will stick with him when inflation spikes to 15%.

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

#964

Post by EasyMark »

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.

Jan 6 was far from many people's lives. It was a philisophical debate at most. When they get to the stores to buy groceries and they are 30-50% higher and their next TV, laptop the same way, they will realize that voting for an Oompa Loompa was a bad idea, and will want him out.

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

#965

Post by 14 »

TrackerFF wrote: post #62

From what I understand, de minimis exemption has also been removed. That is a huge, huge deal. It effectively means that all goods imported from China will be slapped with a 30% import tax, as soon as said goods arrive the US border / customs. Usually what happens then, is that the courier will pay that tax, and then bill the recipient later on - as well as charge some fee/fees for the work done. This is why in some…

I had not heard about the de minimis removal. That would be crazy. I assume that would be the end of every dollar store in the country right?

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

#966

Post by 14 »

buzzert wrote: post #948
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…

Why do you think it's a good idea to buy olive oil from Tunisia instead of from California? Are you aware of how much CO2 is released to ship a trivial commodity across the atlantic ocean?

Just a guess as he said his favorite olive oil so could it be one tastes better? I imagine like many other things taste can be effected by the region it is grown in. As for your other point in a perfect world we would all care about global climate change but many are not going to eat something they don’t like to do their part. But really cargo ships are small fish in such a big problem. Ban private jets or cruise ships would be way more beneficial.

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

#967

Post by p_j_w »

froggertoaster wrote: post #797
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".

Yep, that’s the problem. If only people treated the man who mocks disabled reporters with respect then he would have lost.

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

#968

Post by trymas »

macinjosh wrote: post #588

All the gigabrains trying to be economists ITT don't understand this is a political move for Trump's base. It is not about what is technically best or the most logical according to the academics. It is an emotional decision more than anything. It stems from the working class in America being given cheap crap from Asia that barely works in exchange for shipping the good jobs overseas to the lowest bidder. The working…

> We want secure housing, good education, healthy food, and an opportunity for promotion in life.

How come dismantling education, medical, various protective agencies and services will help with that?

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

#970

Post by bilbo0s »

huevosabio wrote: post #855
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…

> the upside of this system is felt by the entrepreneurs, investors and high-skill employees in tech and finance, while the downside is concentrated with low-skill workers whose jobs are offshored to lower wage countries. This is true only if we impose barriers to geographic mobility, which we do via artificial scarcity of housing in our major cities. If we produced housing like we did cars, all the "low-skill" peopl…

all the "low-skill" people would be able to move to the city and find a job

That this doesn't work is self-evident. Cities are currently filled with low skilled people. The vast majority of whom find no employment or employment in illegal activities.

Also:

We don't need more high-quality education

The idea that the world, and the US in particular, has no need for more and better education is laughable. Considering the fact that a lack of education is, arguably, what got the US into the current situation in the first place.

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