How will Trump's "trade deals" be monitored and enforced?

[craig]

Trump appears to be the only arbiter of what the "deals" are and if countries are in compliance. There has been no discussion of the WTO in relation to these "deals". And as far as I know there is no plan to ratify them by Congress. The only metric of compliance that is measurable is the trade deficit between us and the other country(s). If the trade deficit goes up does that indicate non-compliance? Can anyone explain how this can possibly work?

 

[Callen]

Easy, he'll just make up numbers and metrics and bobble heads will bobble

 

[Luce]

He's just going to keep changing tariffs regardless.

 

[Helix]

The poor, working, and middle classes will work and pay more so that the rich can get richer.

 

[Nickyjo]

He's just going to keep changing tariffs regardless.

And I still don’t understand his motives for the tariffs. True, he stated his motive regarding Brazil, because they had the nerve to prosecute someone like him, but what does he hope the tariffs will accomplish. Long ago they were imposed to protect US industry, presumably in the days when every part of every product was manufactured here, but those days seem long gone.

 

[Luce]

And I still don’t understand his motives for the tariffs.

Neither does he.

 

[bongsaway]

Trump appears to be the only arbiter of what the "deals" are and if countries are in compliance. There has been no discussion of the WTO in relation to these "deals". And as far as I know there is no plan to ratify them by Congress. The only metric of compliance that is measurable is the trade deficit between us and the other country(s). If the trade deficit goes up does that indicate non-compliance? Can anyone explain how this can possibly work?

By word of mouth. Trump's mouth.

 

[craig]

Trump appears to be the only arbiter of what the "deals" are and if countries are in compliance. There has been no discussion of the WTO in relation to these "deals". And as far as I know there is no plan to ratify them by Congress. The only metric of compliance that is measurable is the trade deficit between us and the other country(s). If the trade deficit goes up does that indicate non-compliance? Can anyone explain how this can possibly work?

The point I am trying to make is I don't understand how this new trade policy can be practically implemented. The economic pundits all talk about how it will affect the economy but no one is discussing how it is anything more than vaporware.

 

[Callen]

The point I am trying to make is I don't understand how this new trade policy can be practically implemented. The economic pundits all talk about how it will affect the economy but no one is discussing how it is anything more than vaporware.

It can't be....except at Trump’s whim

 

[Airyaman]

Hmm. Well, since no one has signed anything, how would any of these "deals" be violated? Basically they consist of "we'll promise to buy energy and invest money (with no time frame) and you'll tax US companies who buy goods from companies in our country". Not sure there will be any enforcement mechanism beyond the taxes US companies pay to get their goods at the border.

 

[BabaVoss]

Trump appears to be the only arbiter of what the "deals" are and if countries are in compliance. There has been no discussion of the WTO in relation to these "deals". And as far as I know there is no plan to ratify them by Congress. The only metric of compliance that is measurable is the trade deficit between us and the other country(s). If the trade deficit goes up does that indicate non-compliance? Can anyone explain how this can possibly work?

Regardless of how trump lies about his ‘deals’, the US has no ability to ‘charge’ other countries for anything.
He is taxing US citizens in the hope that using them (us) to damage the US market (us) in order to bully other countries to invest in manufacturing products here.
US citizens do not want to do these shitty jobs.
The market will not bear the cost of employing US citizens for these kinds of jobs.
His ‘plan’ is to return us to some warped view he has of the 1950s.
It is doomed to fail.

.

 

[JMR]

And I still don’t understand his motives for the tariffs. True, he stated his motive regarding Brazil, because they had the nerve to prosecute someone like him, but what does he hope the tariffs will accomplish. Long ago they were imposed to protect US industry, presumably in the days when every part of every product was manufactured here, but those days seem long gone.

He's obsessed with William McKinley (including changing Mt. Denali's name) and his tariffs, which were put in place to protect American industry in the early 20th century, and are widely seen to have done the exact opposite.

 

[Nickyjo]

He's obsessed with William McKinley (including changing Mt. Denali's name) and his tariffs, which were put in place to protect American industry in the early 20th century, and are widely seen to have done the exact opposite.

Didn’t know that last part. Do you know why the tariffs were seen as having done the opposite?

 

[JMR]

Didn’t know that last part. Do you know why the tariffs were seen as having done the opposite?

From what I have read (not extensive at all), the purpose of the tariffs was to protect the "tin plate" industry....which it did. Not sure we still have a "tin plate" industry or what it is.
Farmers were very opposed, consumers were unhappy with very high prices on most everything, and the only businesses to benefit were large corporations. His party lost many seats in the next election, somehow he managed to win reelection a few years later, but was assassinated early on.

 

[PeteEU]

Trump appears to be the only arbiter of what the "deals" are and if countries are in compliance. There has been no discussion of the WTO in relation to these "deals". And as far as I know there is no plan to ratify them by Congress.

He is using illegal emergency measures to do this.. so yea, he is bypassing Congrees. But then again, technically there are no trade deals signed. At best a document for a framework has been signed, but any actual trade deal.. aka the details... still need to be negotiated.

The only metric of compliance that is measurable is the trade deficit between us and the other country(s). If the trade deficit goes up does that indicate non-compliance? Can anyone explain how this can possibly work?

Who knows.. the metric is idiotic.. Take Madagascar. The reason the US has a so called massive trade deficit, is that Madagascar is the world leading exporter of Vanilla, something that cant exactly be grown in the US.

Fundamentally, Trump is mentally handicapped and does not understand basic economics. A trade deficit in goods in a global market only means the US imports more than it exports to said nation. Now with countries like China or groups like the EU, one could argue with text book theories that dont actually work in reality.. but when you have products that the US never ever can produce domestically and they are getting hit by 15%+ tariffs, then that clearly shows incompetence and stupidity on the part of Pedo Don and his administration. It is a literal sales tax put on the American people and will do nothing to improve trade deficits or anything else, since there are no American alternatives to said products.

And it is not like Madagascar, one of the poorest countries on the planet, suddenly will start buying expensive American cars or military weapons..

 

[JMR]

Didn’t know that last part. Do you know why the tariffs were seen as having done the opposite?

I also think it is important to note that in McKinley's case, the tariffs were voted on and approved in the Congress.

Trump is the first to declare tariffs on his own, under a relatively new law giving him that power in the "case of dire emergencies"...
I haven't heard the dire emergency named yet. These tariffs should have been submitted to Congress for approval.

 

[joluoto]

Also, Congress makes trade deals, not Presidents. Technically these deals are not trade deals.

 

[pedex]

Customs and border patrol collects import duties which go to treasury dept.

 

[craig]

Customs and border patrol collects import duties which go to treasury dept.

So these "trade deals" are nothing more than tariffs on imports?

 

[Nickyjo]

I also think it is important to note that in McKinley's case, the tariffs were voted on and approved in the Congress.

Trump is the first to declare tariffs on his own, under a relatively new law giving him that power in the "case of dire emergencies"...
I haven't heard the dire emergency named yet. These tariffs should have been submitted to Congress for approval.

The dire emergency is Trump’s presidency.

 

[CaughtInThe]

Nobody is going to honor the trade deals. They're just pacifying the baby.

Everybody saw what China did during Trump's first term and they're just copying it. They didn't honor anything either.

 

[pedex]

So these "trade deals" are nothing more than tariffs on imports?

Basically but from a specific country.


Import duties are usually on a good or class of goods applying to many countries.

Tariffs target specific countries and can be across the board on everything.

We've been using tariffs for over a century.

 

[Callen]

Basically but from a specific country.


Import duties are usually on a good or class of goods applying to many countries.

Tariffs target specific countries and can be across the board on everything.

We've been using tariffs for over a century.

Not like this in a century