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Trump won't impose tariffs immediately
Posted on 1/20/25 at 10:04 am
Posted on 1/20/25 at 10:04 am
LINK CNBC article
Trump is set to issue a broad trade memorandum Monday that directs federal agencies to study and assess unfair trade practices and currency policies with other nations, especially China, Canada and Mexico. However, the memo stopped short at slapping any new duties on the countries.
Trump is set to issue a broad trade memorandum Monday that directs federal agencies to study and assess unfair trade practices and currency policies with other nations, especially China, Canada and Mexico. However, the memo stopped short at slapping any new duties on the countries.
This post was edited on 1/20/25 at 10:06 am
2
Posted on 1/20/25 at 8:25 pm to bigjoe1
Posted on 1/20/25 at 8:29 pm to Kjnstkmn
Lol if you think income tax is ending, I don't know what to tell you.
There is less than zero chance of that happening, but you can dream
There is less than zero chance of that happening, but you can dream
Posted on 1/20/25 at 8:50 pm to bigjoe1
I'm curious to what these unfair trade policies are. I keep hearing they are unfair but never get any details. I'm very skeptical about the tariffs, I'm hoping they are a scare tactic because tariffs are rarely a good thing in the modern world
Posted on 1/20/25 at 8:59 pm to UltimaParadox
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If tweet fails to load, click here.This post was edited on 1/20/25 at 9:18 pm
Posted on 1/20/25 at 8:59 pm to Kjnstkmn
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If tweet fails to load, click here.This post was edited on 1/20/25 at 9:00 pm
Posted on 1/20/25 at 9:01 pm to Civildawg
I think right off the bat, China is stealing IP. That needs to stop. Mexico is facilitating illegal immigration and allowing fentanyl and precursor chemicals into the U.S.
I've seen some things Stanley Druckenmiller has written that, a 10% tariff should have little effect on inflation and will produce revenue.
I'm willing to wait and see how this unfolds. Talking nicely about our concerns don't seem to be working.
I've seen some things Stanley Druckenmiller has written that, a 10% tariff should have little effect on inflation and will produce revenue.
I'm willing to wait and see how this unfolds. Talking nicely about our concerns don't seem to be working.
Posted on 1/21/25 at 10:13 am to bigjoe1
quote:
a 10% tariff should have little effect on inflation
I work in strategic procurement and they said the same thing last time. I managed different categories at that time, but some steel that came from Korea was included and the price increases we saw were passed on. The vast majority of what I buy now is produced in the US, but we do buy some out of Mexico for supply assurance reasons. That cost will be almost assuredly be passed directly on to the consumer.
Suppliers have been getting squeezed over the past few years with all the inflationary pressures we've seen and no one is going to just volunteer to take on more cost increases via a tariff, certainly none that I buy from.
Posted on 1/21/25 at 10:46 am to CharlieTiger
I sure understand your point and hopefully it won't come to the point of ridiculous tariffs flying all over the place. One question I have is how much some businesses would be able to pass along to customers. I'm thinking retail stores would have trouble passing all of it to the consumer.
And, American companies can get hurt with retaliatory tariffs. I've read where the first target for Europe would be chemical companies. Would affect some of our baws in La. and Tx.
Canada is talking about taxing electricity exports to the U.S. and tariffs on Fl. OJ since that is Trumps home state.
And, American companies can get hurt with retaliatory tariffs. I've read where the first target for Europe would be chemical companies. Would affect some of our baws in La. and Tx.
Canada is talking about taxing electricity exports to the U.S. and tariffs on Fl. OJ since that is Trumps home state.
Posted on 1/21/25 at 11:57 am to CharlieTiger
quote:
I work in strategic procurement and they said the same thing last time. I managed different categories at that time, but some steel that came from Korea was included and the price increases we saw were passed on.
I was on a call last week getting an update on one of our big projects. We are having two major modules built in China that are expected to ship in March. We could get hit with as much as a $100 million depending on what percentage that tariffs end up being.
Posted on 1/21/25 at 12:32 pm to Civildawg
quote:
I'm curious to what these unfair trade policies are.
just with China:
1) currency manipulation
2) government controls selling for a loss to gain market share and then raise prices after competition goes out of business
3) government subsidising trade to make it cheaper
4) IP theft
5) forced prison labor
Posted on 1/21/25 at 1:57 pm to tigeraddict
To add to your list- I wish Trump would expel all Chinese grad students and send them home. They are here to commit economic espionage.
Posted on 1/21/25 at 3:09 pm to bigjoe1
quote:
One question I have is how much some businesses would be able to pass along to customers
100% of the tariffs are getting passed on to the consumer. No company is eating it.
Posted on 1/21/25 at 3:21 pm to BottomlandBrew
quote:
100% of the tariffs are getting passed on to the consumer. No company is eating it.
This
Posted on 1/21/25 at 4:09 pm to CharlieTiger
in your opinion are the tariffs a good thing?
This post was edited on 1/21/25 at 5:11 pm
Posted on 1/21/25 at 9:42 pm to BottomlandBrew
quote:
100% of the tariffs are getting passed on to the consumer. No company is eating it.
Ding...ding...ding... I poke my head in these threads every time not because I'm an economist, but because I deal with importers and tariffs everyday.
Same as 2018 and the trade war we are already in with China.
You think China is paying the Section 301 tariffs. Nope.
The only people who pay for the tariffs are the American people. Both the businessman and the customers. And if not done intentionally by either of those parties, it eventually trickles down when they get squeezed by their US suppliers, their COGS go up, and so do their prices. Everyone imports. Well, almost everyone. If it says Made In USA, you can bet your arse there are some imported parts that helped lead to the goods being assembled in the USA.
And for those who say "good, frick em, source in America or don't source at all", you're poorly mistaken. It doesn't work that way. For 90% of middle market business that drive this country and the communities they operate in, they would go under tomorrow if they were required to source locally. And even if they could, there's not enough people in manufacturing over the next 50 years to meet the demand. We're not a country that wants to do that kind of work. Additionally, you probably don't want the city council to pass an approval for a new iron ore smelting plant behind your subdivison or a new casting factory near your kids school anyway.
We're a consumerist country and rely on a global supply chain. That's not changing.
The only way China pays for the tariffs is if every importer in the US revised their incoterms to EXW vs FOB and told the shippers, you're keeping my products cost the same, but you're eating the duty/tax/tariff. Which they won't do. The vast majority ship FOB meaning they own the responsibility of the goods and the cost of the goods the second it gets set on the boat in China/Asia/Wherever. As a result, they own the cost of the import duties/taxes as well. And then so do you and I at the register.
This post was edited on 1/21/25 at 9:47 pm
Posted on 1/22/25 at 2:25 pm to Gorilla Ball
quote:
in your opinion are the tariffs a good thing?
With Mexico and Canada? Absolutely not. These are our closest trading partners. Work with them. Collaborate. Instead of broad threats and blustering about tariffs, sit down and work with them to come up with solutions about how we can work together with those two.
China's a different story. I don't think blanket tariffs will ever work, but there are significant challenges with them and how they go about doing business. I think potentially targeted, strategic tariffs may work, but you're just never going to get anywhere by beating your chest and acting like some sort of tough guy. You look like a fool when you come out swinging when you don't have as much leverage as you think.
As was said in the last post, we live in a global economy now. There is no going back from that. Can we bring more manufacturing back to the US? Sure, but we're always going to rely on non-domestic manufacturing in some capacity, so figure out a way to work with those trade partners, especially our two closest neighbors.
Posted on 1/22/25 at 2:37 pm to LSUShock
Thank you for the informative post.
Posted on 1/22/25 at 7:48 pm to CharlieTiger
You make some great points
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