Is America really being "raped" on trade ?

[ttwtt78640]

A VAT applies to all goods, not just imported ones.

Not necessarily, since some countries exempt groceries. My point was that, being a consumption tax, it’s regressive.

Do you think the US should dictate how these countries run their internal affairs?

Nope, but many are complaining about how the US does so.

 

[Visbek]

I take trump pronouncements with a large pinch of salt. but i have not seen any evidence that the US is being unfairly treated.

That's because... it isn't.

In fact, the US has a trade SURPLUS with over 130 nations and territories that are getting hit with tariffs.

Trade deficits aren't harmful, by the way. That kind of Mercantilist thinking was largely discredited by capitalism about 200 years ago.

Ultimately, this is not about "fairness." It's about Trump bullying the entire world, and his narcissistic demand for attention.

I.e. it's just nuts.

I rather think trump is confusing tariffs with trade imbalances.

He isn't, because the US has a $17 billion trade surplus with Australia.

The formula they used to determine "tariffs" was based on the size of the trade deficit, but as I mentioned, they slapped a 10% tariff on nations with trade surpluses anyway.

Don't expect any of this to make any sort of economic sense. That just won't work. It's just bullying.

 

[panic buyer]

Not necessarily, since some countries exempt groceries. My point was that, being a consumption tax, it’s regressive.



Nope, but many are complaining about how the US does so.

Groceries are exempt from vat. Imported groceries as well as domestic groceries. You want american goods to be given an unfair advanyage over domestic goods.

 

[ttwtt78640]

Groceries are exempt from vat. Imported groceries as well as domestic groceries. You want american goods to be given an unfair advanyage over domestic goods.

That’s what tariffs (or other import restrictions) are designed to do. Why are US tariffs any more “unfair” than those of other nations?

 

[Yes_Minister]

That’s what tariffs (or other import restrictions) are designed to do. Why are US tariffs any more “unfair” than those of other nations?

So the US should dictate internal tax policies for other countries? What is your point? Is Quebec's language rules a tariffs? I live in Canada and GTS and PTS applies to most domestic goods, it's not some unfair barrier against US goods and it's not the US' business to tell us how our tax policies work.

 

[ttwtt78640]

So the US should dictate internal tax policies for other countries?

I made no such assertion.

What is your point?

My point is that many object to consumption taxes (e.g. tariffs, VAT, excise and/or sales), since they tend to be regressive.

Is Quebec's language rules a tariffs? I live in Canada and GTS and PTS applies to most domestic goods, it's not some unfair barrier against US goods and it's not the US' business to tell us how our tax policies work.

You seem to be objecting to the US tariffs.

 

[Yes_Minister]

I made no such assertion.



My point is that many object to consumption taxes (e.g. tariffs, VAT, excise and/or sales), since they tend to be regressive.

And why is that your business?

You seem to be objecting to the US tariffs.

Yeah, because they are causing a world wide recession.

Has the GTS or PTS ever caused a recession in the US or anywhere?

Are you a Libertarian or not? Got off the fence, because of you actually believe in small government, you should stop making excuses for these tariffs.

 

[ttwtt78640]

And why is that your business?


Yeah, because they are causing a world wide recession.

Has the GTS or PTS ever caused a recession in the US or anywhere?

Are you a Libertarian or not? Got off the fence, because of you actually believe in small government, you should stop making excuses for these tariffs.

We don’t have “small government” now, but the alternative to (more) federal taxation (in some form) is continuous annual federal deficit (stimulus?) spending.

 

[Yes_Minister]

We don’t have “small government” now, but the alternative to (more) federal taxation (in some form) is continuous annual federal deficit (stimulus?) spending.

And you want tariffs to be that, despite the fact they are causing an economic meltdown and making every other country in the world hate your guts?

 

[ttwtt78640]

And you want tariffs to be that, despite the fact they are causing an economic meltdown and making every other country in the world hate your guts?

Are you still complaining about tax policy in a foreign country?

 

[Yes_Minister]

Are you still complaining about tax policy in a foreign country?

One that causes a recession in my country, yes. You completely ignored that.

I guess owning the libs matters more to you than your supposed small government principals.

 

[tharock220]

I take trump pronouncements with a large pinch of salt. but i have not seen any evidence that the US is being unfairly treated.

Australia doesnt levy any tariffs on the US but has picked up 10%.
In the UK we are awash with US goods.

I rather think trump is confusing tariffs with trade imbalances. The US is the richest country in the world so of course it will run deficits with poorer countries.
It seems like trump wants the poor countries to subsidise Americas standard of living.

Its an immoral ezercise.

There are ways of engaging in unfair trade practices other than tariffs.

China's rare earth mining industry became essentially the sole player in the world due to the government's willingness to extract and process the metals at a loss and dump them on the market, causing mines in the rest of the world to close.

There's a ton of shale gas in Outter Mongolia. Big oil companies have refused to partner with Chinese SOOC's because the Chinese government's lack of respect for intellectual property and penchant for changing agreements once the foreign partner is no longer needed.

Canada's government subsidizes softwood lumber production allowing Canadian companines to sell at a price with which American companies cannot compete.

Neither of these are tariffs, but they're not free trade either.

 

[Ahlevah]

I take trump pronouncements with a large pinch of salt. but i have not seen any evidence that the US is being unfairly treated.

Australia doesnt levy any tariffs on the US but has picked up 10%.
In the UK we are awash with US goods.

I rather think trump is confusing tariffs with trade imbalances. The US is the richest country in the world so of course it will run deficits with poorer countries.
It seems like trump wants the poor countries to subsidise Americas standard of living.

Its an immoral ezercise.

Americans are raping themselves with too much spending, debt, and speculating on crap like crypto tokens and meme stocks. Having the “best” fiat currency that’s still lost 99% of its real value in fifty years isn’t much consolation.

 

[Ahlevah]

But, yes, I would also add that some countries, China in particular, engage in predatory trading practices.

 

[cpwill]

The reason for the 10% baseline tariff that Trump has imposed on UK, Australia and others is to prevent countries with higher tariffs from selling their products to, say, Australia and then Australia turning around and selling the product to the US...as if they had produced it...with no tariff.

Why do you think Trump lied about this, then, when he declared it was about trade deficits?

 

[Mycroft]

Why do you think Trump lied about this, then, when he declared it was about trade deficits?

He didn't say the baseline 10% tariffs were about trade deficits.

 

[cpwill]

He didn't say the baseline 10% tariffs were about trade deficits.

That was the formula used, and the reason given. The problem with the "pass thru" post facto excuse is that it doesn't fit either US import law or the realities of capital investment. You can't just drop a good off in Australia, slap a "made in Australia" sticker on it, and reship it to the US.

 

[bomberfox]

Not really. We wanted cheap shit made from slave labor now we got it.

 

[watsup]

The reason for the 10% baseline tariff that Trump has imposed on UK, Australia and others is to prevent countries with higher tariffs from selling their products to, say, Australia and then Australia turning around and selling the product to the US...as if they had produced it...with no tariff.

…….at the expense of inflation and permanent higher prices on basically everything that we buy.

 

[HenryChinaski]

He didn't say the baseline 10% tariffs were about trade deficits.

 

[SMTA]

The problem is Trump confuses tariffs with trade imbalances.

Trade imbalances exist because other countries can make things cheaper and better than American factories can.

Period. Full stop.

Faster, better, cheaper - pick any 2.