Canada, Greenland, Mexico, etc - USA Tariffs / Trade War commencing March 2025 #4

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  • #161
The Economist (most well known financial/economy "magazine"/media) thinks Trump is a turd.
Here is their opinion headline:

1743737898650.webp



And here is the impact of Trump on the stock markets.
1743737768805.webp


All serious economists understand why the markets are tanking....and it is because of Trump's dangerous tariff war. Of course his supporters are making up reasons why this stuff doesn't matter. I think you can forget about worrying about egg prices, and instead you should worry about a US recession and a world-wide recession. This is all thanks to Trump.
 
  • #162
Snoopster said:
The Economist (most well known financial/economy "magazine"/media) thinks Trump is a turd.
Here is their opinion headline:

View attachment 576308


And here is the impact of Trump on the stock markets.
View attachment 576305

All serious economists understand why the markets are tanking....and it is because of Trump's dangerous tariff war. Of course his supporters are making up reasons why this stuff doesn't matter. I think you can forget about worrying about egg prices, and instead you should worry about a US recession and a world-wide recession. This is all thanks to Trump.
Click to expand...
Why not just add a link instead of posting screen shots? Who is Mueller she wrote?
 
  • #163
BayouBelle_LA said:
Why not just add a link instead of posting screen shots? Who is Mueller she wrote?
Click to expand...
The screenshots speak for themselves. Mueller she wrote is a veteran and a CREDIBLE podcaster.
 
  • #164
  • #165
Seni said:
Ok. Lets take Subway as example. Operate in many countries with fresh ingredients, bread baked in situ.

That leaves the sauces that are maybe imported.

But they have a franchise that allows them to operate under Subway title whilst they are not legally associated with the US company?
Click to expand...
It's processed meat of unknown origin. Same with cheese. In Canada, fresh vegetables come from Mexico or the USA during Winter. Olives ... Greece? The tariff is on the individual ingredients, meaning the over all cost must increase.
 
  • #166
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  • #167
acutename said:
he and his ilk can buy low
Click to expand...
I want a journalist to look into investment actions by Republican senators, etc, in advance of Trump announcements.
 
  • #168
Harking back to the penguins on Heard Island, I just had a message from them this morning. Now, you may not be aware that my DH's uncle was a meteorologist on Heard Island way back in the 1950's. When he departed, he left behind (under a rock) a letter for the penguins. The letter contained his thanks for their hospitality, and the addresses of himself and some of his relatives, should they wish to keep in touch, and how to do it. Unfortunately I am not authorised to reveal this method. However we have had a bit of pleasant contact over the years, especially at Christmas of course.

Anyway, you will be unsurprised to learn that they are quite upset about the tariff now placed upon them, so upset in fact that as I said, we received a message this morning. They are wanting our advice on what they can do, if anything. If any of you do have some advice, I will be very happy to pass it on to them. I myself am not sure if there is anything they can possibly do, except to strictly maintain the fish quota.
 
  • #169
<modsnip: Quoted post was removed> ... when Trump criticized Democrats he said look at the stock market! He literally said that if the DOW dropped by over 1,000 points in 2 days, the President should be impeached. Yet now he is saying the market plunge is a nothing-burger. How can people believe this conman?
 
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  • #170
Kemug said:
Harking back to the penguins on Heard Island, I just had a message from them this morning. Now, you may not be aware that my DH's uncle was a meteorologist on Heard Island way back in the 1950's. When he departed, he left behind (under a rock) a letter for the penguins. The letter contained his thanks for their hospitality, and the addresses of himself and some of his relatives, should they wish to keep in touch, and how to do it. Unfortunately I am not authorised to reveal this method. However we have had a bit of pleasant contact over the years, especially at Christmas of course.

Anyway, you will be unsurprised to learn that they are quite upset about the tariff now placed upon them, so upset in fact that as I said, we received a message this morning. They are wanting our advice on what they can do, if anything. If any of you do have some advice, I will be very happy to pass it on to them. I myself am not sure if there is anything they can possibly do, except to strictly maintain the fish quota.
Click to expand...
1743740549834.webp
 
  • #171
oh, my goodness. seems like there was a bit of drunken incompetence , more so than usual , going on at the Whitehouse backyard shed, where they do all the calculations, ...

www.theguardian.com

Revealed: Norfolk Island and uninhabited Australian territories hit with Trump’s tariffs based on mislabelled shipments

Exclusive: Aquarium systems, Timberland boots and recycling plant parts were mislabelled as coming from remote Norfolk Island or Heard and McDonald islands
www.theguardian.com www.theguardian.com


''''Trade tariffs imposed on tiny Australian territories that are either uninhabited or claim to have no trading relationship with the US appear to have been calculated based on erroneous trade data.

The data relates, at least in part, to shipments mislabelled as coming from remote Norfolk Island, or Heard Island and McDonald Islands, instead of their correct countries of origin, the Guardian can reveal.

Among the erroneously labelled shipments over the past five years from the island territories are shipments of aquarium systems, Timberland boots, wine and parts for a recycling plant.


According to an analysis of US import data and shipping records, multiple shipments of goods were classified as having originated from Norfolk Island or Heard and McDonald islands when neither the company address, nor the port of departure for the shipment, nor the destination port were located in those territories.

In some cases involving Norfolk Island, which is 1,600km north-east of Sydney and has a population of 2,188, the confusion appears to have resulted from the fact that the company’s address or port of departure is Norfolk, UK, or the destination is Norfolk, Virginia in the US, or a company’s registered address in New Hampshire (NH) has been listed instead as Norfolk Island (NI).'''''

Norfolk Island was this week hit with a 29% tariff on its goods – 19 percentage points higher than the rest of Australia – despite claiming to have no export relationship with the US.

The decision has perplexed the Australian government, with Australia’s prime minister saying it was evidence “nowhere was safe” from Trump’s tariffs. The country’s trade minister, Don Farrell, said it was “clearly a mistake”.

Back to the drawing board, gents.. try it again, sober, this time, ey??
 
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  • #172
BayouBelle_LA said:
Why not just add a link instead of posting screen shots? Who is Mueller she wrote?
Click to expand...
Thanks to @SouthAussie I didn't have to replicate those stock market facts. So now that we have that behind us, I will re-emphasize my point that Trump is effectively taking down the global economy. I wish he cared about people. Sadly, it appears that he doesn't. But you seem to be standing up for him so I'd love to hear your view on why you stand with him. I very well might be missing something.
 
  • #173
Trooper said:
oh, my goodness. seems like there was a bit of drunken incompetence , more so than usual , going on at the Whitehouse backyard shed, where they do all the calculations, ...

''''Trade tariffs imposed on tiny Australian territories that are either uninhabited or claim to have no trading relationship with the US appear to have been calculated based on erroneous trade data.

The data relates, at least in part, to shipments mislabelled as coming from remote Norfolk Island, or Heard Island and McDonald Islands, instead of their correct countries of origin, the Guardian can reveal.

Among the erroneously labelled shipments over the past five years from the island territories are shipments of aquarium systems, Timberland boots, wine and parts for a recycling plant.


According to an analysis of US import data and shipping records, multiple shipments of goods were classified as having originated from Norfolk Island or Heard and McDonald islands when neither the company address, nor the port of departure for the shipment, nor the destination port were located in those territories.

In some cases involving Norfolk Island, which is 1,600km north-east of Sydney and has a population of 2,188, the confusion appears to have resulted from the fact that the company’s address or port of departure is Norfolk, UK, or the destination is Norfolk, Virginia in the US, or a company’s registered address in New Hampshire (NH) has been listed instead as Norfolk Island (NI).'''''

Norfolk Island was this week hit with a 29% tariff on its goods – 19 percentage points higher than the rest of Australia – despite claiming to have no export relationship with the US.

The decision has perplexed the Australian government, with Australia’s prime minister saying it was evidence “nowhere was safe” from Trump’s tariffs. The country’s trade minister, Don Farrell, said it was “clearly a mistake”.

Back to the drawing board, gents.. try it again, sober, this time, ey??
Click to expand...
BUT.... Russia and Israel are spared. Curious. Read into it what you might.
 
  • #174
Well,.maybe Norfolk Island is "on the map" now, and they can soon expect a big influx of tourists! I don't think we can say the same.e for Heard Island though.
 
  • #175
And so it starts. Stellantis employees were told to take a 2 week break from work. It might be much longer. Next, there will be layoff of automakers in the USA. Vehicle production will slow down.

"The U.S. can't have its cake and eat it, too," says Karl Schamotta, chief market strategist at the financial services firm Corpay.
...

Stellantis, owner of the Jeep and Ram brands, paused production at some plants in Canada and Mexico. ... the pause will impact some of its U.S. powertrain and stamping facilities that support those factories.

That will lead to the layoffs of American workers. The pause impacts roughly 3,200 people in Canada and about 900 in the U.S.

So, investors are losing their shirts. American workers are being laid off and the tariffs haven't even been fully imposed yet. Meanwhile, Canada has enacted a matching 25 per cent tariff on U.S.-made vehicles.
...

Tariffs are a tax on American businesses. The Budget Lab at Yale University crunched the numbers and found Wednesday's announcement has pushed the average effective tariff rate in the U.S. to 22.5 per cent, the highest since 1909." ... All of this year's tariffs will raise prices by 2.3 per cent, he said, amounting to an average loss of $3,800."

 
  • #176
  • #177
Trooper said:
oh, my goodness. seems like there was a bit of drunken incompetence , more so than usual , going on at the Whitehouse backyard shed, where they do all the calculations, ...

www.theguardian.com

Revealed: Norfolk Island and uninhabited Australian territories hit with Trump’s tariffs based on mislabelled shipments

Exclusive: Aquarium systems, Timberland boots and recycling plant parts were mislabelled as coming from remote Norfolk Island or Heard and McDonald islands
www.theguardian.com www.theguardian.com


''''Trade tariffs imposed on tiny Australian territories that are either uninhabited or claim to have no trading relationship with the US appear to have been calculated based on erroneous trade data.

The data relates, at least in part, to shipments mislabelled as coming from remote Norfolk Island, or Heard Island and McDonald Islands, instead of their correct countries of origin, the Guardian can reveal.

Among the erroneously labelled shipments over the past five years from the island territories are shipments of aquarium systems, Timberland boots, wine and parts for a recycling plant.


According to an analysis of US import data and shipping records, multiple shipments of goods were classified as having originated from Norfolk Island or Heard and McDonald islands when neither the company address, nor the port of departure for the shipment, nor the destination port were located in those territories.

In some cases involving Norfolk Island, which is 1,600km north-east of Sydney and has a population of 2,188, the confusion appears to have resulted from the fact that the company’s address or port of departure is Norfolk, UK, or the destination is Norfolk, Virginia in the US, or a company’s registered address in New Hampshire (NH) has been listed instead as Norfolk Island (NI).'''''

Norfolk Island was this week hit with a 29% tariff on its goods – 19 percentage points higher than the rest of Australia – despite claiming to have no export relationship with the US.

The decision has perplexed the Australian government, with Australia’s prime minister saying it was evidence “nowhere was safe” from Trump’s tariffs. The country’s trade minister, Don Farrell, said it was “clearly a mistake”.

Back to the drawing board, gents.. try it again, sober, this time, ey??
Click to expand...
A mistake?

That's much more than a mistake. It's the USA government being too ignorant to know geography and too lazy to check their work once. It's so sloppy it is stupidity.
 
  • #178
otto said:
A mistake?

That's much more than a mistake. It's the USA government being too ignorant to know geography and too lazy to check their work once. It's so sloppy it is stupidity.
Click to expand...

Then they go on the world stage and show their profound ignorance and laziness to everyone. Unreal.

With the high visibility of this matter, they really needed to be accurate. Make a list and check it twice.
 
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  • #179
acutename said:
he and his ilk can buy low
(let me add that you and your ilk can buy low now too if you have any money)
Click to expand...

That's true. And they have enough disposable income to wait it out, until the stock market turns around at some point in the future.

It is terrible for the companies whose stocks have taken a deep dive from which they may never recover before they go bust, and the people who are needing their 401K plans to sustain them now.
 
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  • #180
Trump's carpet bomb tariffs have been deciphered. Every AI tool like ChatGPT came up with the same tariff results. Since people are not convinced that the USA government did the work themselves, the government came up with a formula. It's filled with Greek symbols that will bamboozle 99.9% of the population into believing it's true, but too mathematically complicated to think about.

"The White House claimed to base its decision on tariff rates and nontariff barriers, but economic journalist James Surowiecki reckons it was all just a back-of-the-envelope calculation. “Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us,” ... “What extraordinary nonsense this is.”
...

The White House responded with a formula featuring Greek letters and six research references to underscore the credibility of its momentous economic decision. Incidentally, that formula describes the same calculation detailed by Surowiecki in his analysis.
1743744473471.webp

...

The White House’s calculated figure of 39 percent is more than 10 times higher than the actual average, trade-weighted tariff charged by the EU of 2.7 percent, according to the World Trade Organization.

1743743798242.webp

www.politico.eu

Trump’s tariff math is crazy, says ‘Wisdom of Crowds’ author

James Surowiecki challenges the White House’s rationale for punishing Europe, China, India and Japan with reciprocal tariffs.
www.politico.eu www.politico.eu

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