how soon will Trump back down over tariffs

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MNW67 said:
Stephen Miran, who is Trump's top economic adviser, wants compensation for the USA back-stopping the global trade system since the end of WW2. He is arguing that having the US dollar as the reserve currency has caused the USA's economic problems. But others argue that it has brought them huge benefits.
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The dollar reserve status has made America so rich that it can afford to waste billions on buying cheap tat from China, which is why they have such a large deficit.
 
Vinty said:
The dollar reserve status has made America so rich that it can afford to waste billions on buying cheap tat from China, which is why they have such a large deficit.
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Goods from China can be any quality. The Chinese can and do supply anything at any quality level.

I wouldn't call Ipads or IPhone cheap tat.

Most major tool brands are made in cheap labour countries including China: Makita, Millwaukee, DeWalt, Bosch etc etc.
 
Notch7 said:
Goods from China can be any quality. The Chinese can and do supply anything at any quality level.

I wouldn't call Ipads or IPhone cheap tat.

Most major tool brands are made in cheap labour countries including China: Makita, Millwaukee, DeWalt, Bosch etc etc.
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Agreed, although I was quite surprised last time I replaced my Makita combi drill to find it was made in Romania.
 
fillyboy said:
Agreed, although I was quite surprised last time I replaced my Makita combi drill to find it was made in Romania.
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Yeah power tools are made in a whole bunch of countries now including Mexico, Vietnam, Czeche republic, Romania and China

A mate of mine bought a makita drill on ebay which was made in Japan: apparently they make them to a higher spec and more powerful -but also more expensive. It seems us Europeans get the cheap sh1t
 
Trump has increased tariffs on China to 145%

once you get over say 75% trade is not really viable for 95% of trade so Trump isnt actually increasing the threat level

but China can dump all its US bonds on the market and cause bit of a storm........and if it does it might encourage Japan to do the same


poor Twumpy has backed himself into a corner
 
Saw an interview on BLoomberg with a French a guy who was CEO of Renault for decades or sumtn. They have factories all over the world. He was asked where he would like his own car to have been made.
China, no question, he said. They make them best.
I have a Nikon, DSLR about 3 grand. Made in China. They went and got good!
 
Notch7 said:
Trump has increased tariffs on China to 145%

once you get over say 75% trade is not really viable for 95% of trade so Trump isnt actually increasing the threat level

but China can dump all its US bonds on the market and cause bit of a storm........and if it does it might encourage Japan to do the same


poor Twumpy has backed himself into a corner
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www.thedailymash.co.uk

Tariffs cause devastating increase in mansplaining

US tariffs have triggered a catastrophic increase in the number of condescending men explaining what they are, economists have warned.
www.thedailymash.co.uk www.thedailymash.co.uk

US tariffs have triggered a catastrophic increase in the number of condescending men explaining what they are, economists have warned.

Millions of women have reported being subjected to unsolicited lectures from male co-workers, friends and partners who are now economic experts after watching a three-minute YouTube video.

Meanwhile the Bank of England has estimated that mansplains are currently at three times their 2024 level – the largest increase in mansplaining since the release of the 2014 film Interstellar.

Kelly Howard of Daventree said: “There’s no escaping it. Today Steve at work gave me an incorrect explanation of reciprocal tariffs, and when I got home my boyfriend had turned into Gary f**king Stevenson without the wide-boy charm or money.

“I’ve also endured smug conversations about how people misunderstand trade deficits and a highly questionable analysis of China’s next move. I’m starting to think IMF might stand for Insufferable Mansplaining F**kwit.

“I’d quite like a tariff on the words that men export from their mouths into my ears. Call me a protectionist, but I need to stop my own thoughts being swamped by ill-informed *******s.”
Economists say a further increase in phrases like ‘Let me break it down for you’ and ‘It’s basic economics when you think about it’ could overwhelm female patience by the end of the week.
Many women are now threatening retaliatory measures, including sarcastic nodding and saying ‘Shut up, Milton Friedman’, with one women’s group launching an awareness campaign titled ‘Thanks, I Have Google’.
 
gas112 said:
thousands of arrests every year for posts put on social media could be quite funny seeing some of the abusive trolls like notch denso and noseall get arrested and the site owner done as well for allowing it
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Site owner is almost in the clear. Nosenout hasn’t broken the law in any posts I’ve seen. Notch is probably in the clear. Maybe a bit of defamation.

Not so for the others.
 
MNW67 said:
Honestly, I have no idea. Nobel prize winning economists can't agree. What chance do us mere mortals have!

It could be anything from gaining some relatively minor trade concessions, to a complete change in the global trading system, like when Nixon ended the gold standard in 1971. Trump's chief economic adviser, Marin, is saying that countries need to compensate the USA for the decades they have spent back-stopping the global trading system. The USA is drowning in debt, and it seems Marin wants countries who hold US debt to extend the repayment or even write some of it off.
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Rapid concessions to “balance” trade.
His mistake was unilaterally suspending/reducing tariffs and treating the EU as a block.
 
MNW67 said:
It's all a massive puzzle.

China have said today that they won't back down. Xi is many times smarter than Trump and the Chinese are very used to hardship. My gut feeling today is that China will come out on top and hasten the end of US dominance. Everyone is still guessing, though.

Trump's obsession with tariffs and trade barriers started in the 1980s when he saw the Japanese buying up New York property. Trump was furious that Japan didn't let foreigners, including himself, do the same. That anger is what is really behind all this.
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Ellison needs a bit more time to do the tik tok deal.

If he killed them off before the deal closed, it would be of no value.
 
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