U.S. isolated at G7 meeting as tariffs prompt retaliation

[Grouse]

3 hours ago, buick said:

on the topic of tarriffs related to germany, maybe someone can help out on tarriffs related to their vehicle imports.  i think most would consider german vehicles a luxury item.  if a porsche sells for $70,000 and an additional 5% is added to that via tarriff, i question whether that would reduce the volume of porsche vehicle sales in the USA.  if someone wants a porsche and they are willing to pay 70k, they'll pay 73.5k.  the cost would certainly be passed along to the consumer but that type of consumer can handle the increase.  i've always been a supporter of taxes on luxury items and what some call a 'sin' tax (booze, cigarettes, etc..). 

Any American interested in cars would happily pay an additional 25% for a genuine European automobile. No choice. You need me to tell you what killed Detroit?

[buick]

3 minutes ago, Grouse said:

Good question

 

Israel

Saudi

Australia

Kuwait

North Korea

i had saudi and kuwait further down on my list.  but still ahead of germany and japan.

[buick]

1 minute ago, Grouse said:

Any American interested in cars would happily pay an additional 25% for a genuine European automobile. No choice. You need me to tell you what killed Detroit?

that is an easy one.  japan makes better low to mid price cars than the US and europe makes better mid to high price cars.  i do think 25% is a bit high, maybe 10% could pass through for higher priced cars w/o hitting the bottom line.  i think dodge had a good thing going with their minivan quite awhile back but then japan made a better one.

[buick]

as far as bombardier goes, it sounds like the threat of a 300% tarriff resulted in airbus buying a slight majority of the company and agreeing to assemble some of the planes in america.  seems like a reasonable outcome.

 

http://money.cnn.com/2017/10/16/news/companies/airbus-buys-majority-stake-bombardier-cseries/index.html

 

maybe something has changed since, not sure.

[moontang]

1 hour ago, bristolboy said:

Maybe you should look up the issue of supply chains before you make such a blanket statement.

technology...zero

agriculture,/food...zero

autos...zero...

construction materials....very small amount he of Canadian plywood, but easily replaced with US...

[arithai12]

6 hours ago, moontang said:

technology...zero

agriculture,/food...zero

autos...zero...

construction materials....very small amount he of Canadian plywood, but easily replaced with US...

yes you are right of course. one has to wonder why the USA have been importing more than they export all this time, when everything is readily available at home and cheaper and more patriotic.

 

[mikebike]

On 6/3/2018 at 7:38 PM, moontang said:

I can go years without buying anything made in the EU...or Canada.

Really? Ever fly, take public transit, drive a car, or drink a canned beverage? I could go on and on...

[moontang]

6 hours ago, arithai12 said:

yes you are right of course. one has to wonder why the USA have been importing more than they export all this time, when everything is readily available at home and cheaper and more patriotic.

 

Notice, I didn't mention China or Japan.

[mikebike]

13 hours ago, moontang said:

technology...zero

agriculture,/food...zero

autos...zero...

construction materials....very small amount he of Canadian plywood, but easily replaced with US...

1. All consumer tech is made overseas;

2. Ever eat bread or pasta?

3. About 40% of the components of made-in-the-USA vehicles are Canadian made;

4. Plywood... maybe. But lumber? USA domestic needs far outstrip domestic production and the US construction industry is heavily reliant on Canadian lumber. Also Canadian forestry companies own up to 35% of the lumber mills in the USA.

[gandalf12]

It is funny when you think the USA always goes on about special relationships with countries then imposes taxes their imports. The only thing special about a relationship with the USA is that the the USA acts continually as the bully and expects everyone else to bow down to it. America your time is over, you had superpower status now all it seems to you can is alienate allies, start (but not finish) wars and talk a load of cobblers

[moontang]

8 hours ago, mikebike said:

1. All consumer tech is made overseas;

2. Ever eat bread or pasta?

3. About 40% of the components of made-in-the-USA vehicles are Canadian made;

4. Plywood... maybe. But lumber? USA domestic needs far outstrip domestic production and the US construction industry is heavily reliant on Canadian lumber. Also Canadian forestry companies own up to 35% of the lumber mills in the USA.

tech products are made overseas, but quite rarely EU.  I doubt any of the newer auto plants like Toyota, Benz plants are using Canadian...GM, different story, but I wouldn't touch some Detroit piece of <deleted> if you paid me.  And stocks are at 12 week highs  because why?

[Becker]

24 minutes ago, moontang said:

tech products are made overseas, but quite rarely EU.  I doubt any of the newer auto plants like Toyota, Benz plants are using Canadian...GM, different story, but I wouldn't touch some Detroit piece of <deleted> if you paid me.  And stocks are at 12 week highs  because why?

Because stock markets are cyclical. Any more questions don't hesitate to ask.

[tomacht8]

The question is how the EU and its member states will respond. We have a huge ace up our sleeve: it is known that there are just four major economic powers in the US, who make huge profits in Europe, but in fact do not pay a full percent of their taxes: Google, Amazon, Facebook and Apple.

Of course, a trade war is not pleasant. Of course it would have consequences to continue to turn the escalation screw. But: The largest economy in the world is the internal market of the EU. Not the United States.

[mikebike]

46 minutes ago, moontang said:

tech products are made overseas, but quite rarely EU.  I doubt any of the newer auto plants like Toyota, Benz plants are using Canadian...GM, different story, but I wouldn't touch some Detroit piece of <deleted> if you paid me.  And stocks are at 12 week highs  because why?

MB and Toyota actually manufacture in Canada.

[moontang]

6 minutes ago, mikebike said:

MB and Toyota actually manufacture in Canada.

And Toyota Canada sells for less in the US than Canada...but the wheat?  US was too exporter in 2017...so don't do us any favors.  A wheat farmer friend is driving a school bus...that is how bad that business is.  http://www.worldstopexports.com/wheat-exports-country/

[tomacht8]

Trump is bothered by the fact that Americans buy more European products than vice versa. Whether it bothers him just as much that the US exports twice as much to Australia as it imports? Probably not.

[Mac98]

When Trump is done deal making the USA will look like Atlantic City after he got done with it. Lights out, glitter gone, workers unpaid, but every dollar that could be milked out of it in his pocket. 

[tomacht8]

https://www.trumpstore.com/collections/trump-gifts

 

absolutely overpriced stuff of questionable origin and quality.

 

[Jingthing]

2 hours ago, Mac98 said:

When Trump is done deal making the USA will look like Atlantic City after he got done with it. Lights out, glitter gone, workers unpaid, but every dollar that could be milked out of it in his pocket. 

Yep. As Bloomberg famously said, if "trump" runs the country like he ran his business -- God help us. 

Edited June 5, 2018 by Jingthing