US tarrifs. 10% U.K., 20% EU.

[Justin Passing]

There was an interview with Mike Pence (remember him??) on Bloomberg.
He came across as a moderate - though he seemed to have only just realised that Americans will pay the tariffs.

If the EU respond with tariffs - such that the trade more or less stops, those who suffer the most will be the poorer US sectors, which will see prices of staples rise a couple of percent overall. The impact in the EU is less, mostly because the poorest in the EU tend to have more gov support.
Hardest hit in the EU would be agriculture, due to for example soya used for feedstuffs, increasing in price.

Where did I get that from? AI. It's fascinating to fire questions at them and let them waffle on. Then you can try a different one and see if they agree.

 

[noseall]

Where did I get that from? AI. It's fascinationg to fire questions at them and let them waffle on. Then you can try a different one and see if they agagree

That's for folk that are reliant on the SE for their income.
For the rest of us, it's merely showing what an enormous bell end Trump is.

 

[Justin Passing]

"That"
what?


"for ... ... aren't reliant on the self employed for their income" ?
eh? explain?


Trump's an ignorant gob. He presumably listens to those around him, on the quiet.

 

[martygturner]

Just another deflection, ooh I was on that list soooo I know say there was'nt one then, but what to do about the blow back....I know raise tariffs that will get the list off the news. Golf anybody.

The issue with Tariffs for trump is not obvious but is deadly, as you rack up tariffs investment slows, bond rates climb and the dollar weakens, productivity falls. The yanks have done the EU a massive favour, after years of productivity decline its reversed, the US is on the way down and the EU is on the way up. Tariffs always weaken demand and as demand slows productivity falls...its a rule of economics.

The problem for the US is that unlike the mildly socialist EU it cannot raise taxation, expect more and more US companies to become domicile in the EU to avoid EU taxation. See Amazon, Amazon EU was a shell company electing to pay its tax in the US, now its a domicile company with none of its profits exiting the EU...

 

[Odds]

President Donald Trump promised on the campaign trail that his trade policies would trigger an “exodus” of manufacturing from China back to the U.S. But so far, many American companies that operate there are staying put. It’s echoed in a survey by the U.S.-China Business Council, released in July. The group found that while the number of companies reconsidering their investment strategy has ticked up, roughly two-thirds of U.S. companies operating in China intend to maintain their planned investments in the country.
Politico

News that India is entering talks with China since the Orange Oaf slapped 50% tariffs on them doesn't bode well for American interests in the Far East - nor does it augur well for Ukraine since it gives India no reason to change their oil trade with Russia, helping Putin to maintain his war while drawing India away from Western influence and deeper into the BRICS alliance.

Nice going Donald.

 

[Brigadier]

President Donald Trump promised on the campaign trail that his trade policies would trigger an “exodus” of manufacturing from China back to the U.S. But so far, many American companies that operate there are staying put. It’s echoed in a survey by the U.S.-China Business Council, released in July. The group found that while the number of companies reconsidering their investment strategy has ticked up, roughly two-thirds of U.S. companies operating in China intend to maintain their planned investments in the country.
Politico

News that India is entering talks with China since the Orange Oaf slapped 50% tariffs on them doesn't bode well for American interests in the Far East - nor does it augur well for Ukraine since it gives India no reason to change their oil trade with Russia, helping Putin to maintain his war while drawing India away from Western influence and deeper into the BRICS alliance.

Nice going Donald.

Big investments - like wholescale onshoring back to 'Murca - take years, if not decades.
Orangina will be gone in months, whether that be from office or from this mortal plane.

 

[Vinty]

President Donald Trump promised on the campaign trail that his trade policies would trigger an “exodus” of manufacturing from China back to the U.S. But so far, many American companies that operate there are staying put. It’s echoed in a survey by the U.S.-China Business Council, released in July. The group found that while the number of companies reconsidering their investment strategy has ticked up, roughly two-thirds of U.S. companies operating in China intend to maintain their planned investments in the country.
Politico

News that India is entering talks with China since the Orange Oaf slapped 50% tariffs on them doesn't bode well for American interests in the Far East - nor does it augur well for Ukraine since it gives India no reason to change their oil trade with Russia, helping Putin to maintain his war while drawing India away from Western influence and deeper into the BRICS alliance.

Nice going Donald.

Nothing wrong with tariffs if used for their proper purpose.
The Trump administration has weaponised tariffs for geopolitical rather than economic uses.
His ultimatum to India was stupid, India had no choice but to reject his demand.
If they had given in, they would effectively be handing over control of their foreign and economic policy to the Americans.

 

[JohnD]

Nothing wrong with tariffs if used for their proper purpose.

What do you consider to be "proper?"

 

[opps]

What do you consider to be "proper?"

Tariffs make sense if you are trying to defend new industries, eg. solar panels, and have reason to believe that, for example, China is dumping excess stock in the US market. That however is not the case with Trump's tariffs. His are punitive and even effect countries that had free trade agreements with America, eg Australia.

India has many punitive tariffs in place. Apple now manufacture iPhones in India (for the Indian market) because of those tariffs. India is an outlier though. It has been suggested that the addition 25% tariff on top of the existing (new) 25% is because Modi scuppered Trump's hope of a Nobel peace prize. P'stan said that Trump ended the recent conflict, Modi made the mistake of saying that the two countries settled the disagreement without his intervention. He is said to have then decided to add the additional 25% because they are purchasing Russian oil... but the has not penalised China, et al for doing the same.

In the meantime, he has pushed India closer to China.

The guy is a cuffin' moron. And many of the morons who voted for him, still believe that the exporter pays the tariff.

 

[Vinty]

What do you consider to be "proper?"

They can be used to protect domestic industries from foreign competition, especially in developing countries.

Trump is using them to interfere in the internal affairs of other countries, which doesn't seem a good idea.

 

[MNW67]

They can be used to protect domestic industries from foreign competition, especially in developing countries.

Trump is using them to interfere in the internal affairs of other countries, which doesn't seem a good idea.

He has put 50% tariffs on Brazil because they are putting a former President, who organised a coup, on trial.