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

[Highway Man]

Your retrospective insight is stunning.
Please let us know what the lottery winning numbers are tomorrow, would you old chap.

isn't that Notches saying "old chap"

 

[Lirefighter]

Your retrospective insight is stunning.
Please let us know what the lottery winning numbers are tomorrow, would you old chap.

Ne bother.
I'll let you know.

 

[MNW67]

Latest update: The formula Trump chose was miscalculated. They used the wrong value for the elasticity of prices and inflated all the tarrifs by at least 4x.

Thanks. The whole thing has been shown to be utter nonsense anyway. But that is just another nail in the coffin. I have found more info now:

However, Trump’s formula for calculating tariff rates for nations around the world is based on an elasticity rate lower than it should be in practice, according to senior fellows Kevin Corinth and Stan Veuger with the American Enterprise Institute. The formula assumes an elasticity of import prices with respect to tariffs of about 0.25, but the economists say that that number should be closer to 1.0 (0.945).

“Their mistake is that they base the elasticity on the response of retail prices to tariffs, as opposed to import prices as they should have done,” the scholars wrote.

 

[Lirefighter]

You're over thinking this.

 

[denso13]

64% tariffs imposed by Taiwan on American goods which some people on here fell for, hook, line and sinker, pmsl. Still makes me chuckle at the stupidity...

 

[MNW67]

64% tariffs imposed by Taiwan on American goods which some people on here fell for, hook, line and sinker, pmsl. Still makes me chuckle at the stupidity...

What I am intrigued to know is whether Trump understood that this was all nonsense. This was a massive event for him. Did he realise that during his presentation he was pointing to a big chart that the whole the world could see was actually filled with utter boll@x.

 

[denso13]

What I am intrigued to know is whether Trump understood that this was all nonsense. This was a massive event for him. Did he realise that during his presentation he was pointing to a big chart that whole the world could see was actually filled with utter boll@x.

I really don't think he cares. He, or someone in his team, thought it would be a good idea to come up with something visual (which is actually fair enough) and he just parroted the findings. All he had to say was that the figures were based on the trade deficit with each country.

Still boll@x, but not as stupid as even mentioning tariffs imposed on America. But, as expected, he hadn't a clue, and didn't ask, what the figures actually represented.

 

[Lirefighter]

I expect he'll 'back down' on a whole load of these tariffs over the next week or so.

 

[denso13]

Hopefully, he'll claim the win either way.

 

[Notch7]

American consumers benefiting already .

Ford slashes prices with ‘From America for America’ discount plan amid tariff impact

Ford is set to roll out sweeping discounts across multiple models starting today, according to three sources familiar with the matter.

www.cbtnews.com

These American consumers have lost their jobs, so hasn't benefitted them.

 

[Notch7]

You're over thinking this.

You are under thinking this

 

[Notch7]

Ne bother.
I'll let you know.

No need

We can look at Trumps 1st term to see how a trade war works out....oh that's right, China retaliated and American farmers started going bust and the govt had to bail them out which cost more than the total tariff revenue.

 

[Notch7]

I expect he'll 'back down' on a whole load of these tariffs over the next week or so.

China, EU and Canada won't back down, Trump will have to.

 

[Vinty]

It's astonishing that a country like America which is only 5% of the global population can dictate to the other 95%.
Trump claims that America's huge trade deficit with China is evidence that America has been 'robbed raped and pillaged' for decades, when in fact the deficit has been caused by consumer demand in America for cheap goods from cheap labour countries in Asia.
It's all very well reshoring companies that manufacture low tech stuff like baseball caps, plastic cups and balloons, T shirts ect,ect, but if they are going to cost more to produce, what is the point, and after domestic demand is satisfied, who are these goods going to be exported to in order to make the money needed to make America great again.

 

[gas112]

These American consumers have lost their jobs, so hasn't benefitted them.

United Auto Workers President Shawn Fain said in a statement that Stellantis has "got the money, the capacity, the product, and the workforce to employ thousands more UAW members in Michigan, Indiana, and beyond. These layoffs are a completely unnecessary choice that the company is making."

.
.
Romaine McKinney III, president of the local union chapter that represents workers at Stellantis’ stamping plant in Warren, Michigan, saidWhile McKinney understands it will take time for Stellantis to shift its output, he does not believe the automaker - which supplies Canadian plants as well as U.S. ones - has to lay off U.S. workers in the meantime.

“It’s completely unnecessary. It’s a choice the company is making.”