Politics

[Wheels]

I was under the impression items under $800 were exempt from tariffs.

Yes the large dollar items will be a huge issue as companies can not take that hit. We have millions in inventory we need to sort out before tomorrow.

The $800 threshold ended. At least for China.

If you are a tourist bringing knickknacks home it is still in place.

 

[Vintageguy]

So much going on about tariffs. Has anyone noticed the storm brewing for South Africa?
A bill in Congress siting numerous reasons to sanction leaders in South Africa.
Now they have been accused of prior knowledge of the October 7th 2023 attack on Israel.

 

[LivingTheDream]

That's fair. Right after the euro was adopted wasn't it like $1.25-$1.30 USD? You'd think you'd be able to find data that far back but nope.

My first trip to Europe as a 16 year old, the dollar was actually worth 1.08 Euros, you can imagine how great that was and I could buy beer at a bar. It was at this moment I fell in love with Europe, lol.

But I remember the 1.25 and 1.3 trips as well, which wasn't as great, lol.

 

[mdwest]

it looks like Argentina will be the first country to agree to zero tariffs with the US (across 80 key trading items).. one of those key items is crude oil..

Milei says negotiations for zero tariffs with US under way

Argentine President Javier Milei said during a Conservative event in Florida that his country was negotiating with Donald Trump's administration a zero-tariff deal on approximately 50 export products, aiming for a potential Free Trade Agreement (FTA) shortly. Milei's remarks came after the...

en.mercopress.com

not really surprising to me.. Trump loves Milei.. and vice-versa..

 

[Altitude sickness]

We would be wise to put this tariff kerfuffle into proper perspective.


Depending which source. Many state that Bidens 20% inflation. From holding the economy closed much longer than needed. (Until red states were about to disobey anyway).
Then funding the Green New scam by borrowing trillions and handing out billions to democrat NGOs. USAID etc.
Cost the average household $17k per year.

The tariffs are projected to add $3500-$5000 per household. So a fraction of what we lived through for years. Without one positive benefit coming from that pain.

This short term pain at a fraction of the cost will actually have long term benefits.

So don’t despair all is not lost.

 

[Altitude sickness]

it looks like Argentina will be the first country to agree to zero tariffs with the US (across 80 key trading items).. one of those key items is crude oil..

Milei says negotiations for zero tariffs with US under way

Argentine President Javier Milei said during a Conservative event in Florida that his country was negotiating with Donald Trump's administration a zero-tariff deal on approximately 50 export products, aiming for a potential Free Trade Agreement (FTA) shortly. Milei's remarks came after the...

en.mercopress.com

not really surprising to me.. Trump loves Milei.. and vice-versa..

Viet Nam just announced an agreement.

Nike stock jumps as Trump says Vietnam is negotiating on tariffs

President Donald Trump said he had a "very productive call" with a top Vietnamese official on lowering duties on US imports from the nation.

www.businessinsider.com

 

[Brent in Az]

According to those in the know.....this tariff and trade kick in the backside, hasn't.been done in 100 years, and is long overdue.
Wall Street is for making profits, and it goes crazy any time Trump farts. The jobs report is much better then expected, and Wall Street should be taking that into consideration.
The MSM has many people foaming at the mouth, and clutching the pearls. That's what they do against any republican action or policy......fear mongering to the nth degree. What else is new?
Many people on the inside are saying the same thing. Short term pains, for long term gains, as this all shakes out.

 

[cwpayton]

We would be wise to put this tariff kerfuffle into proper perspective.


Depending which source. Many state that Bidens 20% inflation. From holding the economy closed much longer than needed. (Until red states were about to disobey anyway).
Then funding the Green New scam by borrowing trillions and handing out billions to democrat NGOs. USAID etc.
Cost the average household $17k per year.

The tariffs are projected to add $3500-$5000 per household. So a fraction of what we lived through for years. Without one positive benefit coming from that pain.

This short term pain at a fraction of the cost will actually have long term benefits.

So don’t despair all is not lost.

well said, thankyou. No body seems to care the Border to the south is secure and that there are 100s of thousand of illegals on SS. What price do you place on that.

 

[spike.t]

So much going on about tariffs. Has anyone noticed the storm brewing for South Africa?
A bill in Congress siting numerous reasons to sanction leaders in South Africa.
Now they have been accused of prior knowledge of the October 7th 2023 attack on I

Mmm...ANC big boys must be themselves...need to hide their stashes.......

 

[spike.t]

 

[mdwest]

Viet Nam just announced an agreement.

Nike stock jumps as Trump says Vietnam is negotiating on tariffs

President Donald Trump said he had a "very productive call" with a top Vietnamese official on lowering duties on US imports from the nation.

www.businessinsider.com

Cambodia is agreeing to drop tariffs from 35% to 5% and is asking for meetings to get everything negotiated and settled..

While countries like Cambodia and Vietnam don't really buy much from the US.. we buy a LOT of textiles and other things from them..

One of the Reuters articles I read spoke to several of the SE Asia countries getting double whammied.. they lost substantial USAID money.. and now they stand to lose the US consumer.. so they are moving quickly to try to get things resolved..

 

[Altitude sickness]

The more that come to the table quickly leave the others in a bad position. China‘s economy is built on quicksand. It cannot handle a month of this.

 

[Vintageguy]

I’ve listened to several interviews with him. Very impressive fellow.

 

[Wishfulthinker580]

According to those in the know.....this tariff and trade kick in the backside, hasn't.been done in 100 years, and is long overdue.
Wall Street is for making profits, and it goes crazy any time Trump farts. The jobs report is much better then expected, and Wall Street should be taking that into consideration.
The MSM has many people foaming at the mouth, and clutching the pearls. That's what they do against any republican action or policy......fear mongering to the nth degree. What else is new?
Many people on the inside are saying the same thing. Short term pains, for long term gains, as this all shakes out.

To be fair that jobs report is from before the tariffs.. And unemployment rose (very little).

 

[LivingTheDream]

I have heard different things so hopefully someone with better knowledge on this can shed some insight.

What was said was that the tariffs are suppose to bring in an additional 600B dollars. This money can give congress the ability to pass bigger tax cuts through reconciliation because the tax cuts are offset by the tariff revenue and will not increase the deficit.

I have also heard that tariff revenue cant be considered as part of the reconciliation.

Does anyone know, or have the statue that would allow or not allow expected tariff revenue to be considered/used in reconciliation?

 

[HookMeUpII]

To be fair that jobs report is from before the tariffs.. And unemployment rose (very little).

Non-farm payrolls had an upside surprise, bit more than you would expect. Powell shot his mouth off and sent the market lower. Dow was -900 and right after Powell's comments, -1400.

It's going to get better but there will be pain first.

Wait till next months job numbers....

 

[TTundra]

Cambodia is agreeing to drop tariffs from 35% to 5% and is asking for meetings to get everything negotiated and settled..

While countries like Cambodia and Vietnam don't really buy much from the US.. we buy a LOT of textiles and other things from them..

One of the Reuters articles I read spoke to several of the SE Asia countries getting double whammied.. they lost substantial USAID money.. and now they stand to lose the US consumer.. so they are moving quickly to try to get things resolved..

Many of my Chinese factories opened new factories in Cambodia, Myanmar, Thailand etc. They would close them overnight if an agreement isn't reached to keep business flowing. Wpuldnt be worth the investment any longer. Cambodia, along with many others, needs to make deals.

 

[Brent in Az]

China slaps the U.S with 34% retaliatory tariffs

 

[SaintPanzer]

I don't know if I would call that tanking. It was at $1.1 last year under Sleepy Joe.

Ha! you should have seen what it was during the Obama years. There was a time in 2009 where it was close to $1.50. Oh, and there was the time in the summer of 2008 where I could use the MPH/KPH speedometer dial on my car to do currency conversion.

 

[Brent in Az]

True, but everybody knew the tariffs were coming.

To be fair that jobs report is from before the tariffs.. And unemployment rose (very little).