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Trump says he is about to raise tariffs as high as 70% on some countries

Allan

Allan

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This just gets crazier and crazier. I'll point out why below.

CNN On April 9, President Donald Trump gave the world a three-month window to negotiate trade deals with the United States or face higher “reciprocal” tariffs. With just five days remaining in that tariff moratorium, the White House is expected to begin delivering a message to a dozen or so countries: Time is up, and here’s your new tariff rate.

Trump early Friday at Joint Base Andrews told reporters that he would notify 10 to 12 nations a day over the course of the next five days, detailing their new tariffs in letters that the White House would begin sending on Friday. In most cases, the new rates would go into effect August 1, Trump said.
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That's not even the craziest bit.

Bessent indicates there's 100 deals..

Still, Bessent on Thursday told Bloomberg TV that he predicted a “flurry” of deals before July 9. And for those who couldn’t reach an agreement with the United States, “about 100 countries” could continue to face only the 10% minimum tariff rates that the United States imposed during Trump’s “Liberation Day” announcement on April 2.
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Bessent contradicts Trump’s earlier claims of success...

“I’ve made all the deals,” Trump said in a Time interview in late April, saying trade negotiations with foreign partners were nearly complete. “I’ve made 200 deals.”
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In a TV interview he also said he's "100% made 200 deals".

But wait maybe not...

More than two weeks later, Trump acknowledged that hundreds or even dozens of deals aren’t possible on such a short timeframe — a point he reiterated last Friday at a press briefing at the White House.

“You know, we have 200 countries,” Trump said. “We can’t do that. So at a certain point, over the next week and a half or so, or maybe before, we’re going to send out a letter. We talked to many of the countries, and we’re just going to tell them what they have to pay to do business in the United States. And it’s going to go very quickly.”
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He also keeps repeating that there are 200 countries.

 
Damn, wish I knew which stocks to buy on the dip next Tuesday.

Any advice?
 
It's going to be in-flux and on-going for months, maybe even years. That's the nature of trade. We can deal with it, they can deal with it. In the end it's a win-win for everyone except maybe China. Wall Street knows this and has moved on.
 
I’m not convinced that ‘TACO mode’ won’t continue for quite a while on (various) tariff ‘deadlines’, as it has for the (coming soon?) TikTok ‘deal’.

For countries that are continuing to negotiate with the United States but have not yet reached a deal, including India, White House press secretary Karoline Leavitt said last week that “the deadline is not critical.” That’s a point that Treasury Secretary Scott Bessent emphasized to Fox Business last week, too, saying he thinks trade negotiations could be “wrapped up” by Labor Day, providing a more relaxed framework for inking deals than the previously prescribed July 9 deadline.
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MAGAnificent said:
We have it covered.
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Your boy doesn't know what the **** he's doing. Yet you'll back every changing story as he careens about with US and world economies.

You think Trump 100% made trade deals with 200 countries.

You also believe he can't make trade deals with 200 countries in the time allotted.

You also believe there are 200 countries.

And you believe there's no contradiction in the three statements above.
 
Allan said:
Your boy doesn't know what the **** he's doing. Yet you'll back every changing story as he careens about with US and world economies.

You think Trump 100% made trade deals with 200 countries.

You also believe he can't make trade deals with 200 countries in the time allotted.

You also believe there are 200 countries.

And you believe there's no contradiction in the three statements above.
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We very much enjoyed watching your prime minister cave on the digital services tax. :LOL:
 
I have here in my hand a list of two hundred and five countries that were known to the Secretary of Commerce as being members of our new trade deals...
 
The Germans were always going to end up as Nazis due to their beliefs. Americans were always going to end up with the GOP because of their beliefs. We are screwed to what is eventually us going to become a Christian Saudi Arabia.
 
Allan said:
This just gets crazier and crazier. I'll point out why below.



That's not even the craziest bit.

Bessent indicates there's 100 deals..



Bessent contradicts Trump’s earlier claims of success...



In a TV interview he also said he's "100% made 200 deals".

But wait maybe not...



He also keeps repeating that there are 200 countries.

Click to expand...
He's not raising tariffs on any countries other than the United States. He's raising tariffs - taxes - on imported goods, to be paid by American importers, and which will be passed on to their customers - Americans.
 
BabaVoss said:
He's not raising tariffs on any countries other than the United States. He's raising tariffs - taxes - on imported goods, to be paid by American importers, and which will be passed on to their customers - Americans.
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Every American should understand this by now yet we still see comments like Post 6.
 
bythoughts said:
I have here in my hand a list of two hundred and five countries that were known to the Secretary of Commerce as being members of our new trade deals...
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That’s making the 2 billion US family farmers nervous. ;)

At the 'patriotic' gathering, Trump told audiences, "Very importantly for Iowa, this bill rescues over 2 billion family farms from the so-called estate tax or the death tax."
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www.irishstar.com

Trump 'loses it' as he claims 2B farms have been rescued and outright lies

Speaking at the 'Salute to America' event in Des Moines, Iowa, Donald Trump alleged that a staggering amount of farms had been saved and repeated the false claim that no tax on Social Security is included in the bill
www.irishstar.com www.irishstar.com
 
This continued uncertainty about tariffs, deals, and therefore prices is only going to contribute to continued uncertainty that will have negative impacts on the economy and growth.
 
Allan said:
This just gets crazier and crazier. I'll point out why below.



That's not even the craziest bit.

Bessent indicates there's 100 deals..



Bessent contradicts Trump’s earlier claims of success...



In a TV interview he also said he's "100% made 200 deals".

But wait maybe not...



He also keeps repeating that there are 200 countries.

Click to expand...
That orange moron is a waste of oxygen.
 
dmpi said:
It's going to be in-flux and on-going for months, maybe even years. That's the nature of trade. We can deal with it, they can deal with it. In the end it's a win-win for everyone except maybe China. Wall Street knows this and has moved on.
Click to expand...
Do you not understand that any tariff on imports is going to cost you that percentage more? If you're paying $100 for whatever, 70% of that is $70 dollars extra that you will pay for the privilege of supporting the White House cretin and his idiotic tariffs. They failed the last time he tried the same stunt, and they'll fail again.

reason.org

U.S. tariffs on China have failed miserably - Reason Foundation

Instead of extending these failed tariffs and trade policies, they ought to be repealed.
reason.org reason.org
 
Allan said:
This just gets crazier and crazier. I'll point out why below.



That's not even the craziest bit.

Bessent indicates there's 100 deals..



Bessent contradicts Trump’s earlier claims of success...



In a TV interview he also said he's "100% made 200 deals".

But wait maybe not...



He also keeps repeating that there are 200 countries.

Click to expand...
Well, this is great if the goal is to shut down trade and cause bare store shelves.
 
snakestretcher said:
Do you not understand that any tariff on imports is going to cost you that percentage more? If you're paying $100 for whatever, 70% of that is $70 dollars extra that you will pay for the privilege of supporting the White House cretin and his idiotic tariffs. They failed the last time he tried the same stunt, and they'll fail again.

reason.org

U.S. tariffs on China have failed miserably - Reason Foundation

Instead of extending these failed tariffs and trade policies, they ought to be repealed.
reason.org reason.org
Click to expand...
The American consumer is not the universe. Look at the big picture: 1) Money don't disappear or vaporize. Tariffs just go to fund the government, thus lessening the need for other tax revenue sources. and 2) Trillion dollar trade deficits are unsustainable over the long term and they signal that other countries should be growing and investing in their own consumer class so the USA has more places to export.
 
Suddenly I’m in the mood again for Tacos.
 
dmpi said:
The American consumer is not the universe. Look at the big picture: 1) Money don't disappear or vaporize. Tariffs just go to fund the government, thus lessening the need for other tax revenue sources. and 2) Trillion dollar trade deficits are unsustainable over the long term and they signal that other countries should be growing and investing in their own consumer class so the USA has more places to export.
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1) Tariffs are a regressive tax on the working class at a time when the average working class person is having their quality of life destroyed and cost of living increased. Blanket tariffs are, in this context, a form of total class warfare. They are not guaranteed to even increase total revenue, and even then, this administration is intent on using our tax dollars NOT to help Americans, but to fund the most oppressive parts of government while also cutting taxes for billionaires.

2) There is absolutely nothing inherently wrong with running a trade deficit, but if that's the metric you want to go by, both Trump's tariffs in his first term and this term are now exacerbating it, on top of creating job losses.

It's wild the amount of bullshit talking points you people will manufacture out of thin air in order to justify policy that is universally recognized as stupid by actual economists all across the spectrum.
 
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