Politics

[Volodia]

Seems that the White House forgot to do some proper research before making those signs with the tariffs for Trumps speech:

Among those Trump has targeted with new tariffs: Lesotho, the tiny landlocked country that was slapped with a top tariff rate of 50 percent and only has a trade imbalance with the U.S. because of a law that allows sub-Saharan African countries to ship thousands of goods duty-free; an overseas territory whose only inhabitants are workers at a military base operated jointly by U.K. and U.S. forces; and the Heard and McDonald Islands, home to no human, and mostly penguin, residents. (A White House official, granted anonymity to share details of internal discussions, said those territories were not supposed to be tariffed separately.)

At least the Heard and McDonald Islands must be a misstake, at least if one assumes they dont want to make a fool of the administration...

And leaving Russia out of any new tariffs also seems like a misstake, if not for anything else because there is so much talk about Trump cozying up to Putin and if tariffs can be slapped on islands without any humans why not then on Russia even if there is no american trade with them...

did the fake news say something about Trump and therefore it is necessary to impose duties on Russia, although there is no trade with it? It's a great plan. Life will become easier for everyone in the world at once)))

 

[Foxi]

If tariffs are such a bad policy......why do so many countries use them against the U.S.?

Somehow you don't seem to be informed at all......

During President Joe Biden's term in office, the US has imposed or adjusted tariffs on various major imported goods, particularly in trade with China.
In May 2024, the US government announced significant tariff increases on a number of Chinese products to protect US companies and workers from unfair competition. The key measures included. Electric vehicles (e-cars): The tariff rate increased from 25% to 100% to protect the US market from heavily subsidized Chinese e-cars.
Solar cells: Tariffs were increased from 25% to 50% as China flooded the global market with low-cost exports, jeopardizing security of supply.
Semiconductors: Tariffs were to rise from 25% to 50% by 2025 to promote domestic chip production.
Lithium-ion batteries for electric cars: Tariffs have been increased from 7.5% to 25%.

Medical products: A new duty rate of 50% was introduced for syringes and needles; for certain protective masks, duties rose from a maximum of 7.5% to 25%.
DER SPIEGEL | Online news+1ZDF+1

Steel and aluminum products: For some metal products, tariffs increased from 7.6% to 25% to encourage more environmentally friendly production methods.
DER SPIEGEL | Online news

 

[Tubby’s Canteen]

did the fake news say something about Trump and therefore it is necessary to impose duties on Russia, although there is no trade with it? It's a great plan. Life will become easier for everyone in the world at once)))

Where did you get no trade with Russia? It may not be the highest trade numbers but it’s certainly higher than the penguins.

 

[Volodia]

This is not my information. That's what KJE81 wrote above.

 

[KJE81]

This is not my information. That's what KJE81 wrote above.

From BBC: One country that did not feature on Donald Trump's list of tariffs on US trade partners was Russia. US outlet Axios quoted White House Press Secretary Karoline Leavitt as saying this was because existing US sanctions on Russia "preclude any meaningful trade" and noting that Cuba, Belarus and North Korea were also not included.

Hence me inferring no US trade with Russia was the reason for not adding Russia to the list of new tariffs. But since the White House decided to include those innocent penguins on Heard and McDonald Islands I asked in my post why then not include Russia aswell? Just as @Tubby’s Canteen wrote there are probably a much higher probability of trade with Russia then with Heard and McDonald Islands. Not including Russia on the list is therefore most likely another misstake of the White House since it could be seen as implying that Trump choosed to exclude Russia for another reason. One would assume that neither Trump nor the White House would like it to seem like Russia has been excluded due to Trumps admiration of Putin...

 

[Tanks]

One thing that is not being mentioned is that dollar is tanking against the Euro due to all these tariffs (1 Euro = $1.1 today). So, EU imported products are going to be even more expensive for US residents and our products will be cheaper for the EU countries.
Guess, that's one way to manipulate the currency to encourage exports.

 

[Volodia]

From BBC: One country that did not feature on Donald Trump's list of tariffs on US trade partners was Russia. US outlet Axios quoted White House Press Secretary Karoline Leavitt as saying this was because existing US sanctions on Russia "preclude any meaningful trade" and noting that Cuba, Belarus and North Korea were also not included.

Hence me inferring no US trade with Russia was the reason for not adding Russia to the list of new tariffs. But since the White House decided to include those innocent penguins on Heard and McDonald Islands I asked in my post why then not include Russia aswell? Just as @Tubby’s Canteen wrote there are probably a much higher probability of trade with Russia then with Heard and McDonald Islands. Not including Russia on the list is therefore most likely another misstake of the White House since it could be seen as implying that Trump choosed to exclude Russia for another reason. One would assume that neither Trump nor the White House would like it to seem like Russia has been excluded due to Trumps admiration of Putin...

You have listed so many countries - Cuba, North Korea, Belarus... Then why do you think the problem is only in Russia?)

 

[Altitude sickness]

Donald Rumsfeld would be proud. We are certain to never fight a significant land engagement ever again. Then it was "shock and awe" would determine any conflict - now I assume we believe drones will rule the battlefield.

I rather suspect Fehrenbach will be proved just as prescient in the future as he has been in the past.

You may fly over a land forever; you may bomb it, atomize it, and wipe it clean of life - but if you desire to defend it, protect it, and keep it for civilization, you must do this on the ground, the way the Roman Legions did - by putting your soldiers in the mud.

Army Planners Are Weighing Force Reductions of Up to 90,000 Active-Duty Soldiers

The Army is quietly considering a sweeping reduction of up to 90,000 active-duty troops, a move that underscores mounting fiscal pressures at the Pentagon and a broader shift in military strategy away from Europe and counterterrorism.

www.military.com

100%

Drones may be able to do this. But is it as impressive. NO !

 

[KJE81]

You have listed so many countries - Cuba, North Korea, Belarus... Then why do you think the problem is only in Russia?)

I think you have to read my post more thoroughly, I am basically writing that I find it fascinating why the White House would omit Russia from the list when they have included an uninhabited island. As to Cuba, North Korea and Belarus they are not currently in the News as prominent as Russia is since Russia has invading a neighbouring country and are committing war crimes more or less daily.

The others are not currently doing that as far as I know....still it is weird that they were left out when that penguin island was not, but like I wrote earlier it seems like the White House did not put much time into those signs in Trumps speak...it looks rather amateurish.

 

[Volodia]

I think you have to read my post more thoroughly, I am basically writing that I find it fascinating why the White House would omit Russia from the list when they have included an uninhabited island. As to Cuba, North Korea and Belarus they are not currently in the News as prominent as Russia is since Russia has invading a neighbouring country and are committing war crimes more or less daily.

The others are not currently doing that as far as I know....still it is weird that they were left out when that penguin island was not, but like I wrote earlier it seems like the White House did not put much time into those signs in Trumps speak...it looks rather amateurish.

ok. Invaded a neighboring country? Can you remember how many times America has invaded countries around the world? in the name of freedom and democracy, of course..

 

[Wishfulthinker580]

Obviously the 10% tariff on the Heard and McDonald Islands, or rather the noting of it on the charts was an embarrassing and amateurish mistake. That said, it received the same rate as the country it is a possession of (Australia). It goes without saying that the charts should only have listed actual countries…. With the understanding/assumption that a country’s territories/possessions would be tariffed at the same rate.. Mind you I’m not defending the tariffs, I’m just saying the constant mentioning of that snafu is a little tiresome and played out. Obviously the WH has some staffers that probably need to be let go for incompetence. It’s probably a better use of everyone’s time to discuss the core issues at hand..

 

[TTundra]

Not the first to post it, but hopefully all countries have learned now or at least know enough that these actions are to get them to the table to make a deal. There's just nothing that Trump loves more than to make a deal...

 

[Wishfulthinker580]

 

[HookMeUpII]

One thing that is not being mentioned is that dollar is tanking against the Euro due to all these tariffs (1 Euro = $1.1 today). So, EU imported products are going to be even more expensive for US residents and our products will be cheaper for the EU countries.
Guess, that's one way to manipulate the currency to encourage exports.

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

 

[LivingTheDream]

With the understanding/assumption that a country’s territories/possessions would be tariffed at the same rate.. Mind you I’m not defending the tariffs, I’m just saying the constant mentioning of that snafu is a little tiresome and played out. Obviously the WH has some staffers that probably need to be let go for incompetence. It’s probably a better use of everyone’s time to discuss the core issues at hand..

With all the focus on that, I am almost wondering if it was intentional. As you directly state we are all talking about that rather than the core issue. Normally, I would say it is a stupid mistake but there is a pattern (51st state nonsense, 3rd term nonsense) where there is something glaringly wrong that everyone focuses on rather than talking about key issues.

 

[LivingTheDream]

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

For what it is worth, I was unhappy about it then too.

 

[Doubleplay]

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

It was almost 1 to 1 5-6 months ago under sleepy Joe also.

 

[Pheroze]

My initial thought is that the marketing campaign to sell the idea of tariffs has successfully convinced a large number of Americans that hiking taxes and restricting trade is beneficial. I am surprised how successful it is.

I suspect over the next few years it will inflate the government coffers so the next government will feel comfortable spending on rebuilding social programs. I just don’t see how a company justifies the cost of moving all their production to a new country when there will be a world wide recession and trade war, unless it was already in their playbook. The cost of the move, and loss of their domestic market, will have to be less than the gain. That’s a challenging calculation.

 

[Red Leg]

It was almost 1 to 1 5-6 months ago under sleepy Joe also.

Anything in this range is ok with me. We were traveling in Europe in 2008 when it was 1 to 1.5. Of course, assuming the international monetary reaction maintains the current Trump momentum, I suppose we could break that record.

My initial thought is that the marketing campaign to sell the idea of tariffs has successfully convinced a large number of Americans that hiking taxes and restricting trade is beneficial. I am surprised how successful it is.

I suspect over the next few years it will inflate the government coffers so the next government will feel comfortable spending on rebuilding social programs. I just don’t see how a company justifies the cost of moving all their production to a new country when there will be a world wide recession and trade war, unless it was already in their playbook. The cost of the move, and loss of their domestic market, will have to be less than the gain. That’s a challenging calculation.

I may be misunderstanding what you wrote, but unless we are talking about tariffs being a tax in kind, the administration is actually intent on cutting taxes.

 

[Red Leg]

Nasdaq is cratering again this morning and the DOW is down another thousand bringing it below 40K. This is now meaningful correction territory, though no where near 2007/8 - assuming it abates.