So about those tariffs...

[King Billy]

....

For most car manufacturers, the US is probably their most important market, China ain't buying them.

Because the Chinese public don't want US cars. They are mostly switching to EVs. They're happy to buy EVs from other non-Chinese marques.
Whereas US has had to put tariffs and barriers in place to restrict Chinese cars being bought in US.
Chinese marques, (especially EVs) are being sold in other parts of the world.

 

[King Billy]

All they voted on was the way he went about it. Looks like there are other ways but will take longer and can’t be done under an executive order.

if Congress agrees.

 

[noseall]

All they voted on was the way he went about it. Looks like there are other ways but will take longer and can’t be done under an executive order.

This is about people saying no to Trump. It's a massive blow to him and his quest to be King. It will go far beyond his barmy ego enriching tariff nonsense.

Inevitable Trump-baby tantrums will follow...

 

[robinbanks]

10% global tariff?, isn't that about 10% less than the 20% VAT we impose on everything that comes into our country?

Unless I'm missing something, that sounds like a better deal than we offer other countries?

No?

VAT and tariffs aren't comparable

VAT is a consumption tax that applies equally to domestic and imported goods, and it’s usually rebated on exports (and the destination country applies its own rate). It doesn’t disadvantage foreign producers.

A tariff applies only to imports, never domestic goods, and is designed to distort trade

VAT and other sales taxes are charged on top of the tariff-inflated price, but domesticcally produced goods also pay VAT, while imports alone pay tariffs

A 10% global tariff isn't a better deal than 20% VAT; the two taxes serve totally different purposes, affect different people, and have very different economic consequences

 

[jono_h]

“A White House official said countries that struck trade deals with the US, including the UK, India and the EU, will now face the global 10% tariff under Section 122 rather than the tariff rate they had previously negotiated.”

So any effort in putting together a trade deal is largely pointless.

 

[motorbiking]

He has the right to impose temporary duty and have exercised that right. Probably why the markets didn’t react to the original news.

 

[blup]

Why do the right/re form seek to justify Trumpf’s actions in imposing an across the board 10 per tariff when it damages British businesses? It’s like voting brexhit regardless of the economic damage. But supporting another country against our own interests?

 

[Odds]

Were trumps' tariffs working?

Ben Casselman from the NYT explains why they haven't.

 

[motorbiking]

Why do the right/re form seek to justify Trumpf’s actions in imposing an across the board 10 per tariff when it damages British businesses? It’s like voting brexhit regardless of the economic damage. But supporting another country against our own interests?

Who has done this?

 

[Brigadier]

The tariffs are almost exclusively funded from the pockets of the 'murcan consumer and business.

And go into the Treasury coffers.

A tax on the people then, but the optics of that wouldn't go down well.


Especially when it is to (part) fund tax cuts for millionaires and billionaires.

 

[MNW67]

Most people might have missed Trump's top economic adviser having a massive hissy fit the other day.

The Federal Reserve did some research showing that 90% of Trump's new tariffs were paid by Americans, not by the other country. Trump is trying to hoodwink his mouth breathing MAGAs into believing the opposite.

“It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve system,” Hassett told CNBC in an interview.

“The people associated with this paper should presumably be disciplined"

This is now a common theme, as Trump drives the USA into autocracy.

 

[fillyboy]

The Federal Reserve did some research showing that 90% of Trump's new tariffs were paid by Americans

And yet inflation stands at 2.4%
I'm not disputing what the fed say, obviously 'some' of the tariffs are going to go to the end user, but how are they running an inflation rate significantly lower than ours.
Higher prices equals inflation.

Something doesn't add up.

 

[motorbiking]

The only positive thing, is its stopped the nasdaq overheating.

 

[MNW67]

And yet inflation stands at 2.4%
I'm not disputing what the fed say, obviously 'some' of the tariffs are going to go to the end user, but how are they running an inflation rate significantly lower than ours.
Higher prices equals inflation.

Something doesn't add up.

Until now, the businesses have swallowed most of the costs. They knew the tariffs were illegal and the court case was coming and are hoping to get a refund.

 

[motorbiking]

Who will be getting their money back? Not the consumer. I guess there could be class actions against any retailer who transferred on the tariff, clearly in the marketing or pricing.