Tariff - The Official Tariff Thread

[Molle]

Anti-Trumpers say it is a tax on US consumers.

That's also what most renowned economist says, do you think they are all Anti-Trumpers?

[harrybarracuda]

(Reuters) -U.S. President Donald Trump announced on Thursday new tariffs of up to 41% on goods imported from dozens of countries, again citing emergency powers he says he is using to shrink the country's trade deficits with many of its trade partners.
Here are the new adjusted reciprocal tariff rates levied on U.S. importers that Trump announced ahead of his August 1 deadline for negotiated trade agreements, listed in alphabetical order by country of origin.

Imports from some countries, like Brazil, are facing additional tariffs that stack on top of the reciprocal tariffs listed below.


Afghanistan 15%
Algeria 30%
Angola 15%
Bangladesh 20%
Bolivia 15%
Bosnia and Herzegovina 30%
Botswana 15%
Brazil 10%
Brunei 25%
Cambodia 19%
Cameroon 15%
Chad 15%
Costa Rica 15%
Côte d`Ivoire 15%
Democratic Republic of the 15%
Congo
Ecuador 15%
European Union 0%–15%
Equatorial Guinea 15%
Falkland Islands 10%
Fiji 15%
Ghana 15%
Guyana 15%
Iceland 15%
India 25%
Indonesia 19%
Iraq 35%
Israel 15%
Japan 15%

Jordan 15%
Kazakhstan 25%
Laos 40%
Lesotho 15%
Libya 30%
Liechtenstein 15%
Madagascar 15%
Malawi 15%
Malaysia 19%
Mauritius 15%
Moldova 25%
Mozambique 15%
Myanmar (Burma) 40%
Namibia 15%
Nauru 15%
New Zealand 15%
Nicaragua 18%
Nigeria 15%
North Macedonia 15%
Norway 15%
Pakistan 19%
Papua New Guinea 15%
Philippines 19%
Serbia 35%
South Africa 30%
South Korea 15%
Sri Lanka 20%
Switzerland 39%
Syria 41%
Taiwan 20%
Thailand 19%
Trinidad and Tobago 15%
Tunisia 25%
Turkey 15%
Uganda 15%
United Kingdom 10%
Vanuatu 15%
Venezuela 15%
Vietnam 20%
Zambia 15%
Zimbabwe 15%

Factbox-What are the new tariff rates Trump set on US imports from dozens of countries?

[harrybarracuda]

And of course this bollocks.

President Donald Trump is increasing the tariff on Canada from 25% to 35% beginning on Friday, after the U.S. neighbor to the north failed to help curb the imports of fentanyl and other illicit drugs.

The White House noted Trump signed an executive order on Thursday to increase the tariff in an effort to hold Canada accountable for its role in the flow of illicit drugs into the U.S.

[cyrille]

Indeed.

The percentage of fentanyl that gets into the US from Canada is under 1%.

[cyrille]

Trump says it is a tax on foreign exporters. Anti-Trumpers say it is a tax on US consumers.

The truth probably lies somewhere in the middle with economic forces generating a shared burden across the various parties:

1. US Consumers pay slightly higher prices
2. Foreign exporters sacrifice some margin
3. US importers sacrifice some margin

That's all very equitable.

Is your prediction based on anything whatsoever?

Presumably you also feel US consumers have that kind of money under the cushions of the sofa.

[harrybarracuda]

Indeed. The percentage of fentanyl that gets into the US from Canada is under 1%.

Meanwhile, the Sackler family, who created most of the demand, get to walk around scot free with the - at least - $8 Billion they managed to squirrel away even AFTER paying a massive settlement.

[Looper]

Quite an interesting article on Thailand's stumbling path to a deal with Trump.

It seems like the tariffs are being used as a tool of coercion as well as an economic measure.


Shock, chaos and a hollow win: What it's like to do a tariff deal with Trump

...

Thailand, which was facing a 36% levy, now has a deal, like most of its neighbours, to reduce the tariffs to 19%.

The negotiations went down to the wire, finalised just two days before the deadline Trump had set - 1 August. It has been a fraught process getting there, and there is still very little detail about exactly what has been agreed.

...

Thailand does export a lot to the US. Last year they earned it more than $63bn, about one-fifth of its total exports. Thailand too should have been at the head of the queue in Washington, pleading for a reduction in the 36% tariff Trump had designated for it.

But Thailand is not Vietnam, a one-party communist state where critical decisions can be made quickly by a few leaders, with little need to worry about the opinions of businesses or the public.

Rather, like South Korea and Japan, whose deals came after much wrangling despite them being staunch American allies, Thailand too has to contend with domestic politics and public opinion. Thailand also has a weak and fractious coalition government, beholden to a range of vested interests.

Worse still, decisions it took which were entirely unrelated to trade angered the US side.

In February it sent 40 Uyghur asylum-seekers who had been stuck in Thailand for more than a decade back to China, defying warnings by the US Secretary of State Marco Rubio. One Thai trade official told the BBC the US negotiators were still bringing up the Uyghurs as a grievance at tariff talks in May.

Thailand tariff deal: The shock, chaos and negotiations

The issue also seemed to have focused Thailand and Cambodia's attention on efforts to end their border conflagration last week with the August deadline looming.

[cyrille]

The issue also seemed to have focused Thailand and Cambodia's attention on efforts to end their border conflagration last week with the August deadline looming

jhfc, you really have imbibed of the orangeade.

Do you agree with him that he has stopped five wars?

Including one he couldn't remember the name of?

[39TG]

Indeed.

The percentage of fentanyl that gets into the US from Canada is under 1%.

What's 1% of the fentanyl deaths over 10 years? 50,000? Good on Mr. Trump for caring about vulnerable Americans.

[cyrille]

You made up the 'ten years' bit randomly, right?

It's just another ego trip for the orange [at][at][at][at].

[Looper]

Do you agree with him that he has stopped five wars?

I don't know about that, but I suspect the tariff threat played some part in expediting the resolution of hostilities at the Thai-Khmer border so swiftly, after Thailand had made noises about the conflict being likely to escalate into war, although I am sure there were other factors at play also.

[Molle]

n February it sent 40 Uyghur asylum-seekers who had been stuck in Thailand for more than a decade back to China, defying warnings by the US Secretary of State Marco Rubio. One Thai trade official told the BBC the US negotiators were still bringing up the Uyghurs as a grievance at tariff talks in May.

I get it, the above caused such a big imbalance in trade between Thailand and USA that Trump had to slap a 19% tax on import from Thailand.

[Bettyboo]

What's 1% of the fentanyl deaths over 10 years? 50,000? Good on Mr. Trump for caring about vulnerable Americans.

He doesn't. Otherwise, he would have put similar or higher tariffs on Mexico rather than a 90 reprieve. Trump is a liar and a fraud - just look at the 50% on Brazil based on the legal proceedings of somebody he likes... This is all random Trump ideas rather than the "national emergency" (on tariffs, this is senate controlled not president controlled). He should be impeached then locked up with the key thrown away. He has caused chaos around the world in a way that disrupts allies and does NOT help the American people, as will be seen when they vote in next year's senate representations.

[harrybarracuda]

He doesn't. Otherwise, he would have put similar or higher tariffs on Mexico rather than a 90 reprieve. Trump is a liar and a fraud - just look at the 50% on Brazil based on the legal proceedings of somebody he likes... This is all random Trump ideas rather than the "national emergency" (on tariffs, this is senate controlled not president controlled). He should be impeached then locked up with the key thrown away. He has caused chaos around the world in a way that disrupts allies and does NOT help the American people, as will be seen when they vote in next year's senate representations.

Let's not forget it's all tax on American consumers that will go nicely towards that $4.5 TRILLION tax cut he has organised primarily for the rich c u n t s that don't actually pay any.

[misskit]

[S Landreth]

I was, like a lot of Americans were able to listen to it live.

Supreme Court justices appear skeptical of Trump's tariff arguments

Neil Katyal was great.