Trump Plans new Tariffs on Canada, Mexico, and China

[Hamus Yaigh]

Tariffs have been used by many U.S. presidents in the past, often with mixed or negative results. Here are a few examples:

Note the key words "limited impact", "historians argue that they contributed to the Great Depression" and "unintended consequences, including higher prices for consumers and retaliation". You reap what you sow.

 

1. In 2009, President Obama imposed a 35% tariff on tires imported from China, in response to concerns from the United Steelworkers Union about job losses in the domestic tire industry. The tariffs were intended to protect American jobs and boost domestic production, but some studies suggest they may have had limited impact.

 

2. In the early 20th century, the U.S. imposed a series of tariffs to protect domestic industries and generate revenue. These included the Fordney-McCumber Tariff of 1922, the Smoot-Hawley Tariff of 1930, and the Reciprocal Trade Agreements Act of 1934. These tariffs had varying impacts on the U.S. economy, and some historians argue that they contributed to the Great Depression.

 

3. In the 1980s, President Reagan imposed tariffs on Japanese motorcycles and semiconductors, in an effort to protect American industries and reduce the trade deficit. However, these tariffs also had unintended consequences, including higher prices for consumers and retaliation from Japan.

 

[theshu25]

2 hours ago, JonnyF said:

Could to see a politician do what he promised.  

 

If only I could say the same of our lying UK government. 

The grifter has not done a thing yet,  Only promised to do ,same as last time the idiot was in,yet he achevied nothign.

[Yagoda]

6 minutes ago, Hamus Yaigh said:

Tariffs have been used by many U.S. presidents in the past, often with mixed or negative results. Here are a few examples:

Note the key words "limited impact", "historians argue that they contributed to the Great Depression" and "unintended consequences, including higher prices for consumers and retaliation". You reap what you sow.

 

1. In 2009, President Obama imposed a 35% tariff on tires imported from China, in response to concerns from the United Steelworkers Union about job losses in the domestic tire industry. The tariffs were intended to protect American jobs and boost domestic production, but some studies suggest they may have had limited impact.

 

2. In the early 20th century, the U.S. imposed a series of tariffs to protect domestic industries and generate revenue. These included the Fordney-McCumber Tariff of 1922, the Smoot-Hawley Tariff of 1930, and the Reciprocal Trade Agreements Act of 1934. These tariffs had varying impacts on the U.S. economy, and some historians argue that they contributed to the Great Depression.

 

3. In the 1980s, President Reagan imposed tariffs on Japanese motorcycles and semiconductors, in an effort to protect American industries and reduce the trade deficit. However, these tariffs also had unintended consequences, including higher prices for consumers and retaliation from Japan.

 

Did you live in the USA in Reagans America?

[daveAustin]

2 hours ago, Cryingdick said:

There was a glitch that froze my cursor. 

Probably made in America.

USA, USA! lol.

[Chomper Higgot]

1 hour ago, Yagoda said:

You would think folks remember the numerous topics here where the Pinky-in-the-air crowd complains about Tariffs on their imported wine...

 

The best part about the Trump Haters, Tariff edition is that they focus on the Micro of the event/policy rather than the macro effect.

 

For those one or two of you whose intellectual curiosity I challenge, I would note that the focus on the micro rather than the macro allows the revolutionary movement to Socialism the philosophic flexibility to utilize small battles. The old revolutionary slogan, Think Global, Act Local is a perfect example. Thus, you get the incongruence of Leftists calling Tariffs an interference in the market, while acting to interfere in the market, or indeed, control the market as they did in National Socialist Germany or Soviet Russia.

National Socialism is not socialism.

 

But congratulations, you do get the thread’s Godwin Gong.

[BKKKevin]

2 hours ago, Cryingdick said:

 

Wait until Trump is actually in. This is really no problem. I am not sure why you want to make mountains of mole hills?

 

Let's wait and see... I'm not a crack economist like others on this thread but my money is on the Trump tariffs and mass deportations eliminating pretty much all of the woke stock market gains of the Biden administration... 

[Yagoda]

29 minutes ago, Chomper Higgot said:

National Socialism is not socialism.

 

But congratulations, you do get the thread’s Godwin Gong.

Reductio ad hitlerum doesnt apply when folks defend National Socialism. Start a Topic anytime you think you can prove that National Socialism isnt Socialism.

[Lacessit]

20 minutes ago, BKKKevin said:

Let's wait and see... I'm not a crack economist like others on this thread but my money is on the Trump tariffs and mass deportations eliminating pretty much all of the woke stock market gains of the Biden administration... 

Are you putting your money where your mouth is, and buying put options?

[Yagoda]

21 minutes ago, BKKKevin said:

Let's wait and see... I'm not a crack economist like others on this thread but my money is on the Trump tariffs and mass deportations eliminating pretty much all of the woke stock market gains of the Biden administration... 

Yet it crashed yesterday after he called for Tariffs.

 

You clearly dont know much about the US stock market.

[Chomper Higgot]

Just now, Yagoda said:

Reductio ad hitlerum doesnt apply when folks defend National Socialism. Start a Topic anytime you think you can prove that National Socialism isnt Socialism.

Who’s defending ‘National Socialism’?

 

Or you making stuff up again?!

[Eric Loh]

His "America First' tariff hikes in his previous Presidency on China, Canada, Europe, Mexico provoked retaliatory actions and negatively affected the economy. Only idiots will repeat the same insanity and hope for a different outcome. 

[Chomper Higgot]

23 minutes ago, BKKKevin said:

Let's wait and see... I'm not a crack economist like others on this thread but my money is on the Trump tariffs and mass deportations eliminating pretty much all of the woke stock market gains of the Biden administration... 

That and set inflation afire again.

 

Everything Trump touches dies.

[Chomper Higgot]

3 minutes ago, Eric Loh said:

His "America First' tariff hikes in his previous Presidency on China, Canada, Europe, Mexico provoked retaliatory actions and negatively affected the economy. Only idiots will repeat the same insanity and hope for a different outcome. 

The CHIPS Act is having a very positive impact, on shoring strategically important chip manufacturing and removing the risks associated with China’s threats to that index in Taiwan.

 

But of course Trump says he will repeal the CHIPS Act.

 

Too much of a success for Trump not to want to kill it.

 

Everything Trump touches dies.

[Lacessit]

1 hour ago, JonnyF said:

 

So you are saying buying a Thai built truck in Australia was cheaper than buying a Thai built truck in Thailand?

 

If so, what does that have to do with import tariffs? Even if Australia had import tariffs it would have likely cost around the same. 

Yes. Is the math of $18,500 vs $24,000 too difficult for you?

 

In answer to your second statement, if my auntie had balls, she'd be my uncle.

[spidermike007]

This is incredibly reckless policy and it shows just how little Trump knows about the economy. He's never been a particular great businessman, he is a talented grifter, though. He's starting to demonstrate that already, this is a move that will cause a spike in inflation and this is nothing but a massive tax hike on the American people. 

[Yagoda]

7 minutes ago, Chomper Higgot said:

Who’s defending ‘National Socialism’?

 

Or you making stuff up again?!

Well you deny its philosophical basis, so you clearly are defending it.

[Yagoda]

7 minutes ago, Chomper Higgot said:

That and set inflation afire again.

 

Everything Trump touches dies.

Please provide any facts to justify your statement.

[JonnyF]

Just now, Lacessit said:

Yes. Is the math of $18,500 vs $24,000 too difficult for you?

 

In answer to your second statement, if my auntie had balls, she'd be my uncle.

 

I can do the maths. What does your example have to do with import tariffs?

 

The Thai built truck was cheaper in Australia than Thailand. 

[Yagoda]

1 minute ago, Lacessit said:

Yes. Is the math of $18,500 vs $24,000 too difficult for you?

 

In answer to your second statement, if my auntie had balls, she'd be my uncle.

If your Auntie had balls, the Dems would put her on the Supreme Court on that basis alone. First Transgender on the Court

[Yagoda]

1 minute ago, JonnyF said:

 

I can do the maths. What does your example have to do with import tariffs?

 

The Thai built truck was cheaper in Australia than Thailand. 

He got lucky and some Thai got unlucky. Those factory discounts help. 

[JonnyF]

1 minute ago, Yagoda said:

He got lucky and some Thai got unlucky. Those factory discounts help. 

 

Yes it sounds like it.

 

I'm just not sure of the relevance of his example to this thread. 

[Lacessit]

1 hour ago, Yagoda said:

Please show facts that demonstrate "most" Trump voters are ignorant of tariffs, especially vis a vis Democrat voters.

Please show us how Trump doesnt understand Tariffs

Please show us how Trumps tariffs brought higher prices in the past in a macroeconomic sense.

Please advise as to what other factors may have contributed to a loss of manufacturing jobs (if true) under Trump.

 

Of course, if you are just parroting more lies and Leftist propaganda, no need to respond. We dont expect it anyway.

 

And again, spewing hate towards Trump voters

If you look at what happened to farm produce exported to China in the last Trump administration, farmers were hit so hard by retaliatory tariffs Trump had to come up with massive subsidies to placate them. A lose-lose situation.

 

Is that macro-economic enough for you?

[Eric Loh]

2 minutes ago, Chomper Higgot said:

The CHIPS Act is having a very positive impact, on shoring strategically important chip manufacturing and removing the risks associated with China’s threats to that index in Taiwan.

 

But of course Trump says he will repeal the CHIPS Act.

 

Too much of a success for Trump not to want to kill it.

 

Everything Trump touches dies.

He will made some insignificant modifications to the Chips and Science Act and claim success after making headlines attacking that it was a bad deal and will repel. Chip makers like Intel will thank Biden for his foresight. 

[ricklev]

Maybe part of the problem is the demand for illicit drugs in the USA?  Why blame only the supplier?  I like Mexico's new leader!  

[Srikcir]

1 hour ago, Hamus Yaigh said:

Here are a few examples:

4. In 2020 45th POUTUS Trump and his Mexican and Canadian counterparts signed the US-Mexico-Canada (USMC) Trade Agreement after approved by Congress full filling a major re-election campaign promise. Now due to become 47th POTUS, Trump aims to trash the agreement with a tariff war. 

[Yagoda]

5 minutes ago, Lacessit said:

If you look at what happened to farm produce exported to China in the last Trump administration, farmers were hit so hard by retaliatory tariffs Trump had to come up with massive subsidies to placate them. A lose-lose situation.

 

Is that macro-economic enough for you?

No. You sure about your facts though? How is the Farm industry subsidized in the USA? Did Biden continue those Tariffs, btw?

[Chomper Higgot]

3 minutes ago, Eric Loh said:

He will made some insignificant modifications to the Chips and Science Act and claim success after making headlines attacking that it was a bad deal and will repel. Chip makers like Intel will thank Biden for his foresight. 

And it is an example of foresight, putting America first and preemptively defending America’s strategic interests wrt to the technology that is at the foundation of the U.S. economy.

 

A real Presidential achievement!

[Lacessit]

3 minutes ago, JonnyF said:

 

Yes it sounds like it.

 

I'm just not sure of the relevance of his example to this thread. 

The relevance lies in the fact a country with no tariffs gets the vehicle more cheaply than the country that produced it, even after shipping said vehicle almost 9000 kilometres.

 

I can explain it to you. I can't understand it for you.

[Yagoda]

7 minutes ago, Eric Loh said:

He will made some insignificant modifications to the Chips and Science Act and claim success after making headlines attacking that it was a bad deal and will repel. Chip makers like Intel will thank Biden for his foresight. 

Yeah, Intel is doing wonderfully under the Biden admins policies LOL

[Yagoda]

4 minutes ago, Srikcir said:

4. In 2020 45th POUTUS Trump and his Mexican and Canadian counterparts signed the US-Mexico-Canada (USMC) Trade Agreement after approved by Congress full filling a major re-election campaign promise. Now due to become 47th POTUS, Trump aims to trash the agreement with a tariff war. 

The war is over. They caved. The American people won.