Donald! Where's yer troosers?

[gas112]

n

Did you not read the line where hs own generals sent a letter casting doubt on the security clearance offered to Trump in his role as C-iC ?
If the American military and Intelligence Agencies cannot trust him, why should the UK, or the other NATO members for that matter?
He's a Clear and Present Danger to the United States of America...

Did you not read about the 51 intelligence officers who said hunter bidens laptop was russian disinformation .
Do you think we should believe US intelligence agencies regards politicians with their own agenda

 

[Odds]

Did you not read about the 51 intelligence officers who said hunter bidens laptop was russian disinformation .

No. Got a link?

Do you think we should believe US intelligence agencies regards politicians with their own agenda

Trump's own intelligence officials don't trust him, and his actions tell their concerns are correct. His behviour towards Zelensky speak volumes about his adminstration's intention towards Ukraine and i think he'd cheerfully throw any ally under the bus if it suited him.
Why do you think he'll "drain the swamp" when he's the biggest swamp-dweller of them all?
Baffling.

 

[Odds]

A group of people have dug up the greens at a golf course owned by Trump in western Ireland and planted several Palestinian flags there, according to Irish media. #Gazaisnot4sale

Gotta admit, the guy's bringing the world together in ways he never imagined...

 

[securespark]

whoa a whole 1% of their sales

Go on then. What is the value of that 1%?

 

[Justin Passing]

He's a Clear and Present Danger to the United States of America...

At least he makes himself fluorescent so he can be seen.
--


If you get a chance listen to Lutnik on Bloomberg.
His construction is clearer than Trump's.

1) everyone on he planet has tariffs against the US. ---That seems pretty much true. Europe(VAT is 20%), Canada, India, China.
2) US is economically in the doodah with its $36 TRillion of debt.
3) get all those tariffs levelled out - and then,,,,,?
4) L says T would reduce all the tariffs if everyone else did.

There are weasel words about who pays for tariffs. Of course it's the consumer in the US, nearly always.
But it's the better off who buy a lot more of the imported stuff.
If Trump reduces taxes as he says he wants to, the returns from the tarriffs paid by those richer people COULD be used to benefit the less well off.

 

[MNW67]

If you get a chance listen to Lutnik on Bloomberg.
His construction is clearer than Trump's.

1) everyone on he planet has tariffs against the US. ---That seems pretty much true. Europe(VAT is 20%), Canada, India, China.
2) US is economically in the doodah with its $36 TRillion of debt.
3) get all those tariffs levelled out - and then,,,,,?
4) L says T would reduce all the tariffs if everyone else did.

And the US has tariffs against pretty much everyone else. Albeit they are lower overall. More so when compared to developing economies.

But if we take the two biggest advanced economies, EU and USA. I have just been reading that the average tariff paid, by each side, on all the bilateral trade in goods between the two blocs, is about 1%. There is no real imbalance.

As regards VAT, I think that is a red herring. It is charged on domestic goods as well as imported goods, so it does not give domestic producers an advantage.

 

[fillyboy]

As regards VAT, I think that is a red herring. It is charged on domestic goods as well as imported goods, so it does not give domestic producers an advantage.

It's a red herring that puts a 20% tax on goods imported from the US (or anywhere), the US has local taxes which vary between states, off the top of my head they range from 3-10%, without checking California probably has the highest.

 

[MNW67]

It's a red herring that puts a 20% tax on goods imported from the US (or anywhere), the US has local taxes which vary between states, off the top of my head they range from 3-10%, without checking California probably has the highest.

I can't actually tell whether you are agreeing with me or not

The VAT issue is a massive red herring regarding unfair competition, which is what these tariffs are all about, because it also affects domestic producers.

 

[fillyboy]

he VAT issue is a massive red herring regarding unfair competition,

It's not.

 

[MNW67]

It's not.

Can you explain a bit more, because it seems to me that it is a red herring. As you know, I am always happy to learn stuff. Below is my take on it:

As far as I understand it, Trump believes that EU tariffs make it more difficult for US firms to export to the EU. This is because the tariffs make US goods more expensive than the domestically produced goods. And that can be seen as unfair competition.

But with VAT, that is a tax which is added equally to both domestic goods and imported goods. So, it does not actually make imported goods any more expensive than the domestic goods. Therefore it cannot amount to unfair competition.

That is my simple take on it!

 

[fillyboy]

Can you explain a bit more, because it seems to me that it is a red herring. As you know, I am always happy to learn stuff. Below is my take on it:

As far as I understand it, Trump believes that EU tariffs make it more difficult for US firms to export to the EU. This is because the tariffs make US goods more expensive than the domestically produced goods. And that can be seen as unfair competition.

But with VAT, that is a tax which is added equally to both domestic goods and imported goods. So, it does not actually make imported goods any more expensive than the domestic goods. Therefore it cannot amount to unfair competition.

That is my simple take on it!

OK, if the EU exports a car to the US the import tariff is (or was) 3%, there's no vat but when the vehicle is sold it attracts a local state sales tax, usually between 3-7.5%, some states have zero % sales tax, so the to total tax to the end user is between 6 and 10.5%

A car going from the US to the EU is subject to a 10% tariff plus 20% vat, 30% tax to the end user.

 

[MNW67]

OK, if the EU exports a car to the US the import tariff is (or was) 3%, there's no vat but when the vehicle is sold it attracts a local state sales tax, usually between 3-7.5%, some states have zero % sales tax, so the to total tax to the end user is between 6 and 10.5%

A car going from the US to the EU is subject to a 10% tariff plus 20% vat, 30% tax to the end user.

I have been trying to think this through, and this is what I have come up with:

Say we have the same car produced in the EU and the US. And it has the same basic price of $10,000 before tax and tariffs.

When that car is exported from the EU to the US, in a state with a 5% sales tax, then the end price of the imported car will be $10,800. And the end price of the US produced car will be $10,500. The $300 difference in price is purely down to the import tariff and has nothing to do with the sales tax.

In reverse, when that car is exported from the US to the EU, then the end price of the imported car will be $13,000. And the end price of the EU produced car will be $12,000. Again, the $1000 difference in price is purely down to the import tariff and has nothing to do with VAT. If the EU abolished VAT, the difference in price would still be $1,000. So VAT has no effect on unfair competition.

 

[fillyboy]

I have been trying to think this through, and this is what I have come up with:

Say we have the same car produced in the EU and the US. And it has the same basic price of $10,000 before tax and tariffs.

When that car is exported from the EU to the US, in a state with a 5% sales tax, then the end price of the imported car will be $10,800. And the end price of the US produced car will be $10,500. The $300 difference in price is purely down to the import tariff and has nothing to do with the sales tax.

In reverse, when that car is exported from the US to the EU, then the end price of the imported car will be $13,000. And the end price of the EU produced car will be $12,000. Again, the $1000 difference in price is purely down to the import tariff and has nothing to do with VAT. If the EU abolished VAT, the difference in price would still be $1,000. So VAT has no effect on unfair competition.

I'm bored now.

 

[MNW67]

I'm bored now.

I get that a lot

 

[denso13]

I have been trying to think this through, and this is what I have come up with:

Say we have the same car produced in the EU and the US. And it has the same basic price of $10,000 before tax and tariffs.

When that car is exported from the EU to the US, in a state with a 5% sales tax, then the end price of the imported car will be $10,800. And the end price of the US produced car will be $10,500. The $300 difference in price is purely down to the import tariff and has nothing to do with the sales tax.

In reverse, when that car is exported from the US to the EU, then the end price of the imported car will be $13,000. And the end price of the EU produced car will be $12,000. Again, the $1000 difference in price is purely down to the import tariff and has nothing to do with VAT. If the EU abolished VAT, the difference in price would still be $1,000. So VAT has no effect on unfair competition.

They don't like facts.