Donald Trump, perhaps he's not daft?

[JohnD]

Do you think the US has VAT?

It doesn't.

 

[Bodd]

Trump wants to deal with individual countries because they are relatively small and weak and likely to give in to US demands. He doesn't like dealing with a strong trading partner (there is only one) and doesn't know how to do it.

US negotiating policy has been described as "we fax them our terms and tell them to sign"

Do you think the US has VAT?

Goods and Services Tax

GST

 

[JohnD]

keeping workers in jobs

are you assuming that jobs retained in steel mills will outweigh jobs lost in manufacturing, sales and distribution of finished products?

 

[vinty]

An American car weighs a lot more than an empty beer can.

So does a load of rebar.

How many cents per ton do you forecast?

He's put a 25% tariff on the steel and 10% on aluminium.

high-quality steel for knives, surgical instruments, stainless that doesn't go rusty, screws that don't break, costs extra and often comes from Europe.

I don't know the exact figure but what Trump was getting at was that America was not generating enough of its own steel and aluminium and from a national security point of view certain types of steel and aluminium are vital for warships and aircraft.
Loads of American smelting works have closed down because of cheap imports, so it follows if imports become more expensive then it will become viable to manufacture locally.

 

[JohnD]

Goods and Services Tax

GST

As I said, the USA does not have VAT.

https://www.quora.com/Why-does-the-US-not-have-a-GST-goods-and-services-tax

 

[JohnD]

I don't know the exact figure but what Trump was getting at was …

was that he thinks that Protectionism and Trade Wars are good for America, or at least, good for people who might vote Trump.

Opinions differ.

 

[Bodd]

It doesn't.

It sort of does

 

[DIYedboy]

Whenever I bought stuff in the states 'sales tax' was added at the till.
I'm not an economist, but if a balance of trade defecit is incurred by cheap imports, then starting to curtail that has to be way forwards?

 

[JohnD]

Whenever I bought stuff in the states 'sales tax' was added at the till.

It's quite different from VAT and does not apply everywhere. or on goods sold from a vendor in one state to a buyer in another.

 

[Bodd]

As I said, the USA does not have VAT.

https://www.quora.com/Why-does-the-US-not-have-a-GST-goods-and-services-tax

Try clicking on that..

Some state may not have GST Some do

 

[JohnD]

I'm not an economist, but if a balance of trade defecit is incurred by cheap imports, then starting to curtail that has to be way forwards?

Yes, it's common for people who do not have knowledge of economics and international trade to think that protectionism and trade wars are a good thing.

Congratulations, you have two things in common with Trump.

 

[Bodd]

It's quite different from VAT and does not apply everywhere. or on goods sold from a vendor in one state to a buyer in another.

Ish. If I brought something in NY I would claim the Tax back in NJ


. Goods G services S tax T

 

[JohnD]

It's not VAT.

 

[Bodd]

It's not VAT.

John its a tax on goods & services. Different name but its a tax

 

[DIYedboy]

Tax is tax, the name is irrelevant, the cash still going into the treasury is the point surely?