Tariff - The Official Tariff Thread

[malmomike77]

Basketball.

netball

[Looper]

Can you provide any example in recorded history of the benefits of tariffs in the long term.

To be clear, I think the move has mileage if it is tactical, i.e. Trump is looking to get other countries to reduce their tariffs (which can be done quickly).

If, on the other hand, it is a long term strategic position, then I fear for the global economy. But if Trump's mercurial game is to get manufacturing back inside US borders (will take a long time) then a strategic approach will be required.

[Looper]

As I understand it, the Lesotho factories are all Chinese who went there specifically because of its zero tariff when selling their clothing to the US.

Lesotho has a big deal making Levi's jeans, as Mike pointed out.

I hope that is not a Chinese Levi's factory, although my recently purchased knee-holed Levi's say Made in Mexico so who knows.

[cyrille]

To be clear, I think the move has mileage if it is tactical, i.e. Trump is looking to get other countries to reduce their tariffs (which can be done quickly).

For example, say China makes 2 billion $ from exports to the US.

The US makes 1 billion from exports to China.

So China is 50% better off there.

So the tariff is 50%, but Trump, because he's a chillaxed guy, cuts that in half and makes the US tariff on Chinese goods a mere 25%.

If you can't grasp just how bonkers that is, then see you next time on your pervy seaside shots thread.

[BLD]

For once gotta agree with you cybil

[Looper]

^^The method of calculation was a surprise to me. It does not seem to make as much sense as simply hiking tariffs to match other countries' tariffs, if there is a tariff rate imbalance, which is what I thought was being done.


China hits back at Trump tariffs with extra 34% tax on US goods, deepening market turmoil

The Chinese government has used an announcement from the country’s finance ministry to reveal the "resolute countermeasures" it had promised.

In a blow to American companies seeking access to the huge Chinese market, from next Thursday there will be a minimum additional 34% tariff on all US goods entering the country.

Beijing has also placed export controls on seven rare earth elements – crucial in the production of consumer electronics – from being sold.

China had already applied tariffs (ranging from 10% to 15%) to a range of American agricultural products after the last round of charges from the Trump administration, then China’s goods were hit by this week’s combined 54% hike, prompting this latest retaliation.

Trump tariffs live: China hits back with extra 34% tax on US goods, deepening market turmoil - BBC News

I think China will come off worse in a tit-for-tat escalation, given the trade imbalance.

[misskit]

China on Friday (Apr 4) announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump.


The commerce ministry said it would impose additional tariffs of 34 per cent on all US goods from Apr 10.

Agriculture trade took another hit as Chinese customs imposed an immediate suspension on imports of sorghums from grain exporter C&D (USA) Inc, as well as poultry and bonemeal from three US firms.


Beijing also announced controls on exports of medium and heavy rare-earths, including samarium, terbium, dysprosium, lutetium, scandium, gadolinium - commonly used in MRIs - and yttrium - used in consumer electronics - effective Apr 4.


"The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfill international obligations such as non-proliferation," the commerce ministry said in a statement.


China produces around 90 per cent of the world's refined rare earths, a group of 17 elements used across the defence, electric vehicle, clean energy and electronics industries. The United States imports most of its rare earths, and most come from China.


The move, which affects exports to all countries, not just the US, is the latest demonstration of China's ability to weaponise its dominance over the mining and processing of the critical minerals.

Following the announcement of Beijing's counter-tariffs, Trump goaded China, saying the US rival had "panicked" in response to his global trade war.


"China played it wrong, they panicked - the one thing they cannot afford to do!" Trump posted on Truth Social, writing the entire message in his trademark all-caps.

China's commerce ministry also added 16 US entities to its export control list, which prohibits the export of dual-use items to affected firms.


Another 11 US firms were added to the "unreliable entities" list, which allows Beijing to take punitive action against foreign entities. The targeted firms includes Skydio Inc and BRINC Drones over arms sales to democratically governed Taiwan, which China claims as part of its territory.


The commerce ministry said the targeted companies seriously "undermined" China's national sovereignty, security and development interests and would be prohibited from new investments, import and export activities in China.


It also launched an anti-dumping probe into imports of certain medical CT tubes from the US and India, and a wider industry competitiveness investigation into imports of medical CT tubes.


China will also file a lawsuit with the World Trade Organization (WTO) over tariffs, the ministry said.

US President Donald Trump ignited a potentially ruinous global trade war this week by imposing 10 per cent levies on imports from around the world and harsh extra duties on key trading partners.

Trump unveiled particularly stinging tariffs of 34 per cent on China, one of its largest trading partners, on top of existing levies, bringing the total new levy to 54 per cent.


China swiftly vowed "countermeasures" to protect its rights and interests.


"Full-blown export restrictions on high-performance rare earth magnets containing dysprosium and/or terbium will hit foreign industries and defense sectors hard, creating a scramble for access to the limited sources of alternative supply - namely in Japan and South Korea," said Ryan Castilloux, founder of consultancy Adamas Intelligence.


"In the near-term, importers are holding their breath waiting to see if they will be impacted. The cannons have been loaded but so far no one knows where they’re aimed."

Beijing previously responded to tariffs imposed by the Trump administration earlier this year, announcing 10 to 15 per cent tariffs on fuel and US agricultural products like soybeans, wheat and chicken.


It has already imposed outright bans on the export of three metals to the US and slapped export controls on many others.


The moves to restrict heavy rare earths are especially important because China has even tighter control over these elements, said David Merriman at consultancy Project Blue.


"There is currently only one HREE (heavy rare earth element) focused operation outside of China, Myanmar and Laos," he said, adding that China has close involvement in supply chains from Myanmar and Laos.


That mine, Serra Verde in Brazil, is currently shipping its product to China for processing, Merriman added.


GALVANISE WEST


Friday's move is likely to galvanise efforts in the West to build alternative supply chains, according to Mercator Institute for China Studies analyst Jacob Gunter.


"The more China pulls this trigger, even if it's limited to the United States, this will cause European companies and European governments and other countries and their governments to also think about, what's the risk of us also having these export controls put on us?"


Roughly three-quarters of the rare earths the US imports came from China between 2019 and 2022, according to the US Geological Survey.


While the export controls stop short of an outright ban, Beijing can throttle shipments by restricting the amount of export licenses it issues. China had exported no antimony to European Union countries as of March after imposing export controls on the metal last September.


While common in the earth's crust, China dominates the complex and dirty refining process for rare earths and controls mining and output via a quota system that it has progressively tightened.

China to impose tariffs of 34% on all US goods from Apr 10 - CNA

[HuangLao]

These broad ranging tariff policies are going to come back to bite the U.S. firmly on the back side - big time.
It appears that the accepted cultural mindset wants to blame the world for America's long standing economic hardships.....all of which exist on illusion.
In the long run nothing will be done to resolve the real issue - which are domestic in origin.

[misskit]

Trump Rages as China Strikes Back With Major Trade War Retaliation

Donald Trump fired off a furious response to the news that China is retaliating to his trade war by slapping 34 percent tariffs on all goods imported from the U.S. “CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO!” the president posted on his Truth Social platform Friday morning. China’s Ministry of Commerce said its tariffs would go into effect on April 10—the day after Trump’s 34 percent tariffs on Chinese imports to the U.S. will take hold. Beijing denounced Trump’s measures as “a typical unilateral bullying move” by the U.S. government and said the move “does not comply with the rules of international trade and seriously damages the legitimate rights and interest of China.” The chaos in global markets continued Friday as Trump’s trade war spiraled, with the S&P 500 plunging 2.5 percent in early trading. The slide comes after the benchmark U.S. index on Thursday saw its worst single-day loss since the COVID pandemic in 2020.

Trump Rages as China Strikes Back With Major Trade War Retaliation

[taxexile]

so how come no one has criticised the eu, vietnam, thailand and all the other countries that have for many years had high import tariffs on american goods .

this tariff war will hurt everybody, but the glaring hypocrisy shown by the media cannot be ignored.

[Molle]

so how come no one has criticised the eu, vietnam, thailand and all the other countries that have for many years had high import tariffs on american goods .

You're only dumbing yourself down by parroting the orange buffoon, a simple google search could have avoided that.

[david44]

Trying to think of things the USA has actually done well with.

So far I've got Jazz and Basketball.

Tarrific post may, also a lover of Jazz like Chitty,Basketball ok to play dull to watch on TV.
You are gentelman of taste and refinement, what Londoners call a real tasty geeza!

May also I add

Hollywood , well some of it
Cheesecake tho Basque one better
Cranberry sauce as good as the Scots or Swedes
Clams and Lobster par excellence tho Neptune provided
Many talented scientists and inventors who enrich our daily lives Edison ,Serb born Tesla,Bill Shockley, Richard Feynman,artista Tal Farlow, BB King, Aaron Copeland , Bird, Miles, Davis, Hendrix, Joplin ,TS Eliot , Tennessee Wiliams.

Among my personal favourites Charlie Mingis and John Coltrane,
Lowell George, Thomas Pynchon,William Burroughs and lil Bobby Zimmerman aka Bob Dylan


World Series Baseball (Toronto sneeked with young fit Moosers in 92-93

Neither my inclinations nor income wull affect the trade boycott so when my decades supply of Tabasco exhausted around 2035 I will bow to President JD and buy another $50 worth, if my Colon at the right end of the Panama papers!

[HuangLao]

WTF I started a thread about Trade , seems to have vanished, Trump and Looper may agree about who prefers what vocabulary the key issue is free trade versus a recessionary tendency to friction.
Trumps choices will enrich a few by beggaring the many as his backers intend.

I see little point in trying to debate economic ideas if we are to have just a Thesaurus wrangle .

Dear Looper surprised to see your support for Trump places you below the trailer trash in USA who have little knowledge or access to International media, has one your International harem hoodwinkered you?

Can you provide any example in recorded history of the benefits of tariffs in the long term.

Historically, ends in tragedy not benefiting the commons......the controlling elite classes prevail as to be expected.
The deluded [the majority] are predictably taken in.


And so it goes.
Same as it ever was.

[Molle]

Imagine if there was a membership club where countries that wanted to trade freely with each other without tariffs could join..

[malmomike77]

Imagine if there was a membership club where countries that wanted to trade freely with each other without tariffs could join..

explain? who that is a member of this club does not impose tarrifs on other members in your utopia

[malmomike77]

Trump Rages as China Strikes Back With Major Trade War Retaliation

Rages 555, whenever i see that in any article its time to ignore it, that is red top drivel

[Looper]

Ben Shapiro is a Trump supporter but is not impressed with the tariffs.

Quite a good summary and negative critical analysis from this Trump backer in the first 20 minutes of this video.

[malmomike77]

If you are a buyer Twump is gwate

[Looper]

Sam Harris sees a silver lining in the seismic repercussions after facing off against Ben Shapiro in a pre-election youtube debate as the anti-Trumper in that debate.

[misskit]

Vietnam's leader called Donald Trump, offered to cut import tariffs on US goods to 0% in a bid to ease heavy reciprocal tariffs from the US. Meanwhile, Cambodia's leader sent a letter proposing a 5% import tariff on US products.
US President Donald Trump and Vietnam's leader To Lam agreed on Friday to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was "very productive", as Hanoi escalated its campaign to dodge duties of 46%.


Days before Trump's announcement on reciprocal tariffs that hit Vietnam hard, the country had already cut several duties as part of a series of concessions to the US, which also included pledges to buy more American goods such as planes and agricultural products.

"Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US", Trump wrote on his Truth social platform.


"I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump added.


Lam confirmed the call and the pledge to cut tariffs on US goods. "At the same time, (Lam) proposed that the US apply similar tax rates to goods imported from Vietnam," read a report on Vietnam's government portal published shortly after Trump's post.


The two leaders agreed they will continue talking "to soon sign a bilateral agreement" on tariffs, the Vietnamese government said, adding Trump accepted an invitation to visit Vietnam soon.


The Southeast Asian country, which serves as a major manufacturing base for many Western companies, had a trade surplus with Washington, which exceeded $123 billion last year.

Shares of Nike, Adidas and Puma dropped sharply after Vietnam was targeted with 46% tariffs on Wednesday, as the country hosts major manufacturing operations for global shoemakers. But some reversed course following Trump's post on Friday.


US stocks plunged for the second straight day Friday in reaction to President Donald Trump's tariffs,


Without a deal, the 46% US tariff would apply to imports from Vietnam from April 9. The country's benchmark stock index has fallen 8.1% since Trump announced the tariffs two days ago.


Vietnam was already preparing to send a mission to the US next week, which could seal a deal on the purchase of Boeing planes by a Vietnamese airline, according to a document seen by Reuters.


Separately, Cambodia also asked the US government on Friday to postpone the 49% tariff rate on its products.


U.S. reciprocal tariff rates on Cambodia and Vietnam are among the highest.


"Cambodia proposes to negotiate with your honourable administration at the earliest convenient time and wishes to request that your esteemed government consider postponing the above-mentioned tariff implementation," Cambodian Prime Minister Hun Manet said in a letter to Trump, reviewed by Reuters.

The United States on Wednesday announced reciprocal tariffs on goods imported from dozens of its trade partners, including Cambodia. The US tariffs on goods imported from Cambodia will be increased to 49 %, which will take effect on April 9, 2025.


In a letter sent to U.S. President Donald Trump, Hun Manet requested negotiations, urging Trump to postpone the tariff implementation on Cambodian products.


Hun Manet said the existing practice of Cambodia's maximum tariff rate tops at 35 %.


"In expression of our good faith and in the spirit of strengthening our bilateral trade relations, Cambodia is committed to promoting US-based product imports with an immediate reduction of 19 product categories from our maximum 35 percent tariff-bound rate to a 5 % applied tariff rate," he said.


"In this regard, I have also tasked my Minister of Commerce to correlate with the US Trade Representative," he added.


Hun Manet said Cambodia remains fully committed to engaging in constructive and productive dialogue with the US government to further deepen bilateral trade, so both nations and peoples can enjoy tangible benefits from these significant trade relations.

Vietnam offers 0% US import tax; Cambodia cuts to 5%

[baldrick]

What do Vietnam and cambodge buy from the US ?

Boeing aircraft ? Spare parts ? Anything else ?

[misskit]

^

Dunno what else but…


"From Mar 31, 2025, certain items such as cars, wood, ethanol, frozen chicken legs, pistachios, almonds, fresh apples, cherries, raisins, etc, will be subject to a new preferential import duty rate," a statement said late Monday (Mar 31) on the government's official news portal.


It added that import duties on some cars will be halved and the tax rate for liquefied natural gas will drop from 5 per cent to 2 per cent.



Vietnam slashes duties on range of imports to head off US tariffs - CNA

[thailazer]

Less stuff being shipped around the world will likely reduce emissions from ships, planes and trains helping slow down climate change. Pollution levels dropped significantly during Covid, and Trump's virus might even be more effective!

[David48atTD]

I think we have digressed a little.

In English, the word sorry ... as you don't often hear it or see it in attitude with Thais (but them have so many other redeeming features )

[harrybarracuda]

I'm almost sick of saying it:

1. Trump and his mates will have made billions shorting stocks, knowing that they will never be prosecuted.

2. The reason for the American trade deficit is that Americans like buying cheap, and foreign goods are cheap. "Bringing jobs back to America" means either higher prices or Americans working for sweatshop wages.

Trump is just a bullshitter making billions from the chaos he sows, and coming up with a new headline each time to get the trumpanzees baying in glee and the lefties squealing in horror.

Anyone seen a front page about the Signal debacle recently?