For or against tariffs?

S

StmarysCity79

Well-Known Member
Ramp Guy said:
It shows what other counties set as tariffs, it isn't that hard to understand. Do better yourself


Back on February 25, the Office of the United States Trade Representative published in the Federal Register a request for public comments on reviewing and identifying any unfair trade practices by other countries. The register notice specified, “USTR is particularly interested in submissions related to the largest trading economies, such as G20 countries, as well as those economies that have the largest trade deficits in goods with the United States, including Argentina, Australia, Brazil, Canada, China, the European Union, India, Indonesia, Japan, Korea, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, Switzerland, Taiwan, Thailand, Türkiye, United Kingdom, and Vietnam. These countries cover 88 percent of total goods trade with the United States.”


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Australia: “Since July 2018, GST [Goods and Services Tax] of 10 percent applies to sales of low value imported goods to consumers.”
Brazil: “Imports are subject to several taxes and fees in Brazil, which are usually paid during the customs clearance process. There are three taxes that account for the bulk of import costs: Import Duty, Industrialized Product tax, and Merchandise and Service Circulation tax. In addition to these taxes, several smaller taxes and fees apply to imports. Note that most taxes are calculated on a cumulative basis.”
Canada: “U.S. companies shipping to Canada should be aware that Canada’s de minimis threshold is Canadian $40 (approximately US $31) for taxes and Canadian $150 (approximately US $116.50) for duties. By comparison, in March 2016, the United States raised its de minimis threshold from US $200 to US $800. Some stakeholders, particularly shipping companies and online retailers, maintain that Canada’s low de minimis threshold creates an unnecessary trade barrier.”
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So what about Mexico that charges no tariffs on US consumer goods?
 
R

Ramp Guy

Well-Known Member
StmarysCity79 said:
So what about Mexico that charges no tariffs on US consumer goods?
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OK... what about these Mexican tariffs...

For US companies manufacturing in Mexico under the Maquiladora, Manufacturing, and Export Services Industry (IMMEX) Program (hereinafter referred to as IMMEX companies), there are important considerations arising from the recent Mexican government actions. The elimination of the Rule 8 exemption signifies that certain companies importing goods classified as 'sensitive' into Mexico now may be required to pay Most-Favored-Nation (MFN) duties, which are the standard import tariffs, on those items. In addition, if the imported goods also are included in the list of specified products covered by the newly announced tariffs, these companies will face Mexico tariffs above and beyond the MFN duties. 
 
S

StmarysCity79

Well-Known Member
Ramp Guy said:
OK... what about these Mexican tariffs...

For US companies manufacturing in Mexico under the Maquiladora, Manufacturing, and Export Services Industry (IMMEX) Program (hereinafter referred to as IMMEX companies), there are important considerations arising from the recent Mexican government actions. The elimination of the Rule 8 exemption signifies that certain companies importing goods classified as 'sensitive' into Mexico now may be required to pay Most-Favored-Nation (MFN) duties, which are the standard import tariffs, on those items. In addition, if the imported goods also are included in the list of specified products covered by the newly announced tariffs, these companies will face Mexico tariffs above and beyond the MFN duties. 
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Yes. Only in retaliation for Trumps tariffs on Mexican goods.

Prior to this there were none in NAFTA countries.

Now everyone is charging everyone more for the same thing.

It's idiotic.
 
R

Ramp Guy

Well-Known Member
StmarysCity79 said:
Yes. Only in retaliation for Trumps tariffs on Mexican goods.

Prior to this there were none in NAFTA countries.

Now everyone is charging everyone more for the same thing.

It's idiotic.
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Would you like to back up on that argument....... This happened under your buddy BIDEN

On April 22, 2024, the Mexican Ministry of Economy established import tariffs ranging from 5% to 50% on specified products, which went into effect on April 23, 2024.
 
R

Ramp Guy

Well-Known Member
StmarysCity79 said:
Yes. Only in retaliation for Trumps tariffs on Mexican goods.

Prior to this there were none in NAFTA countries.
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and then you have this to review...

"
Before President Trump took office, what tariffs did Canada impose on U.S. goods, and what percentages were there on various products exported to the US?

Before January 1st, Canada had tariffs on certain U.S. products, primarily in sectors protected under its supply management system. These included:

  • Dairy Products: Tariffs ranged from 200% to 300% on items like milk, cheese, and butter to protect Canadian dairy farmers.
  • Poultry and Eggs: Similar high tariffs were applied to chicken, turkey, and eggs.
  • Grain Products: Some grains faced tariffs, though these were generally lower than those on dairy and poultry.
Canada.png
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
So....Israel has cut tariffs for US products, and Canada is right behind them (depending on what minute it is because Carney is bipolar and doesn't seem to know what's going on). Most major countries are leaning toward removing tariffs or are good with reciprocal tariffs. China is on the fence, the Brits are willing to negotiate, France and Germany are the only countries all, "Oh yeah? We will fight you!" and I suspect they be changing their tune shortly.

It's not unreasonable to charge them what they charge us and Democrats keening over it just makes them sound more ridiculous than usual.
 
S

StmarysCity79

Well-Known Member

Dow craters 1,000 points, S&P 500 heads for worst drop in 2 years after Trump’s tariff rollout:​


“While these new tariff measures have been framed as ‘reciprocal’ tariffs, it turns out the policy is actually one of surplus targeting,” noted Mike O’Rourke, chief marketing strategist at Jones Trading, in a note to investors Wednesday.

“There does not appear to have been any tariffs used in the calculation of the rate. The Trump administration is specifically targeting nations with large trade surpluses with the United States relative to their exports to the United States,” he added.

The simple calculation used by the Trump administration could have broad implications for countries America depends on for goods — and the global companies that supply them.

“Knowing how these rates were calculated highlights that they are generally going to be most severe on the nations that US companies rely heavily upon in their supply chain,” O’Rourke said. “It is hard to imagine how these tariffs would not wreak havoc upon the profit margins of major multinational corporations.”

 
Bare-ya-cuda

Bare-ya-cuda

Well-Known Member
StmarysCity79 said:
Tariffs are stupid. Every other country will just put tariffs back on us. They will also band together to exclude us from trade just like Japan, China dn korea are doing now and Europe and Canada will soon do.

Trump is a moron and almost all economists agree they are a bad idea and will raises prices and slow the GDP.
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You have no place calling anyone a moron. You do realize we the USA you know the country you seem to hate so much pays other countries more in tariffs than what they paid us?
 
stgislander

stgislander

Well-Known Member
PREMO Member
Oren Cass, chief economist for conservative think tank American Compass, was just interviewed on Vince Coglianese's podcast. He provided a very good, non-policy wonk explanation of Trump's tariff policies.
 
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