Countries Targeted by Trump’s Tariffs May Strike Back at U.S. Services

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Service sectors — which include the finance, travel, engineering and medical industries and more — make up the bulk of the American economy. Exports of these services brought more than $1 trillion into the United States last year.

But that dominance also gives other countries some clout in negotiations — including the ability to impose some pain on the U.S. economy as they look to retaliate against Mr. Trump’s tariffs on goods.

 https://archive.ph/p61f5

[Yagoda]

Go for it. They already have started their war with US by imposing  National Socialist type policies on our companies. Lets see who blinks first.

 

 

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9 minutes ago, Yagoda said:

Go for it. They already have started their war with US by imposing  National Socialist type policies on our companies. Lets see who blinks first.

 

 

Because the Nazis were big fans of antitrust enforcement?

[Yagoda]

10 minutes ago, placeholder said:

Because the Nazis were big fans of antitrust enforcement?

Well if you havent researched the topic or read the article you cite and researched that, you would not have to ask that question.

 

Therefore, a troll. My position is clear.

 

[placeholder]

2 minutes ago, Yagoda said:

Well if you havent researched the topic or read the article you cite and researched that, you would not have to ask that question.

 

Therefore, a troll. My position is clear.

 

Honorable people back up their claims.. It's ip to the person who makes the claims to provide the evidence. I'm not your research assistant.

 

[harada]

I wouldn’t like to be a franchisee of one of the American owned outlets in some of the countries hit with these tariffs as I have seen in the past people who have bee been hurt by this sort of treatment have their own special way of delivering some payback. 😁

[spidermike007]

As stated elsewhere:

A lot of his supporters seem to think these tariffs are a good idea, and a lot of them state the fact that many nations that are being taxed have been charging the US quite a lot in import fees for many years now. This certainly relates to Thailand, no doubt.

 

However one of the reasons why the US has been a major economic force and the largest economy worldwide has been the relatively low tariffs that it charges on Imports, it has created a very dynamic economy and all of that's about to change under the Goombah, who has absolutely no understanding of either globalization nor the inherent ecosystems involved.

 

This will likely cause significant inflation, huge job losses in the US and worldwide, and it will likely cause the US economy to slow down. The entire experiment is likely to turn out to be a disaster, which is my new nickname for the president. Disaster Don. 

[placeholder]

1 minute ago, harada said:

I wouldn’t like to be a franchisee of one of the American owned outlets in some of the countries hit with these tariffs as I have seen in the past people who have bee been hurt by this sort of treatment have their own special way of delivering some payback. 😁

It is hard to figure how much payback will be coming from consumers outside of the USA. Maybe track Coca-cola sales? Allthough, I think Coca-cola has been so thoroughly naturalized throughout most of the world that it may not be affected. McDonald's and/or Burger King maybe?

Still these are companies that sell physical products. Not the same as services.

[Walker88]

33 minutes ago, Yagoda said:

Go for it. They already have started their war with US by imposing  National Socialist type policies on our companies. Lets see who blinks first.

 

 

Fascists and racists calling Capitalists "National Socialist".

 

MAGAs are such a hoot!

[BritManToo]

6 minutes ago, spidermike007 said:

As stated elsewhere:

A lot of his supporters seem to think these tariffs are a good idea, and a lot of them state the fact that many nations that are being taxed have been charging the US quite a lot in import fees for many years now. This certainly relates to Thailand, no doubt.

 

However one of the reasons why the US has been a major economic force and the largest economy worldwide has been the relatively low tariffs that it charges on Imports, it has created a very dynamic economy and all of that's about to change under the Goombah, who has absolutely no understanding of either globalization nor the inherent ecosystems involved.

 

This will likely cause significant inflation, huge job losses in the US and worldwide, and it will likely cause the US economy to slow down. The entire experiment is likely to turn out to be a disaster, which is my new nickname for the president. Disaster Don. 

Unfortunately, western manufacturers mandated to pay $20/hour cannot compete with foreign manufacturers paying $1/day.

 

Without a manufacturing base your country is doomed.

 

Yes, this will push up the price of goods, but hopefully your citizens will be able to pay for them with the wages they earn in manufacturing.

[spidermike007]

1 minute ago, BritManToo said:

Unfortunately, western manufacturers mandated to pay $20/hour cannot compete with foreign manufacturers paying $1/day.

 

Without a manufacturing base your country is doomed.

While I agree that conceptually the idea is good and makes sense, the implementation is an entirely different story. Many of these companies as you stated simply cannot afford to manufacture in the US.

 

So many aspects of Trump's policies are just an abstract dream, and a talking point, turned into a nightmare reality, and so far detached from real life, and so ignorant of international manufacturing ecosystems, that it truly boggles the rational mind. 

 

Many of us thought that Trump was ignorant and quite dim, these policies will bear that out in a disastrous manner. 

 

The world is about to isolate America like never before, and show them that they are becoming less relevant by the day. Which is probably a good thing in the long run. 

[Yagoda]

4 minutes ago, Walker88 said:

Fascists and racists calling Capitalists "National Socialist".

 

MAGAs are such a hoot!

There is an open Topic on that you have avoided, probably for a good reason. 

[Yagoda]

5 minutes ago, BritManToo said:

Unfortunately, western manufacturers mandated to pay $20/hour cannot compete with foreign manufacturers paying $1/day.

 

Without a manufacturing base your country is doomed.

The ones out screeching about the poor exploited workers are usually wearing high fashion churned out by teenage $200 a month slaves in Phnom Phen.

I wonder if, for example the Cambodians or Thais are going to offer better pay and labor standards for their workers.? Like what if some tycoon made that offer, tarriffs for labor standards? Priceless for the people. 

[jas007]

1 hour ago, placeholder said:

Service sectors — which include the finance, travel, engineering and medical industries and more — make up the bulk of the American economy. Exports of these services brought more than $1 trillion into the United States last year.

But that dominance also gives other countries some clout in negotiations — including the ability to impose some pain on the U.S. economy as they look to retaliate against Mr. Trump’s tariffs on goods.

 https://archive.ph/p61f5

Perhaps the more likely outcome will be that the affected countries lower their tariffs. The tariffs are, after all, "reciprocal."  I think that may already be happening, from what I heard this morning somewhere. Vietnam? Israel?  I think that's what was said, although I wasn't paying too much attention. 

[GammaGlobulin]

Taiwan's import taxes have been way too high for many decades.

Taiwan is no longer a developing country.

And soon, Taiwan will be a province of China, anyway.

 

[NoDisplayName]

31 minutes ago, placeholder said:

It is hard to figure how much payback will be coming from consumers outside of the USA. Maybe track Coca-cola sales? Allthough, I think Coca-cola has been so thoroughly naturalized throughout most of the world that it may not be affected. McDonald's and/or Burger King maybe?

Still these are companies that sell physical products. Not the same as services.

 

America is about to get "Bud-Lited."

[TheAppletons]

1 hour ago, spidermike007 said:

The entire experiment is likely to turn out to be a disaster, which is my new nickname for the president. Disaster Don. 

 

  Herbert Hoover, Jr.  

[LosLobo]

1 hour ago, Yagoda said:

Go for it. They already have started their war with US by imposing  National Socialist type policies on our companies. Lets see who blinks first.

You seem confused about the characteristics of National Socialism, -- is that the other or just the usual MAGA Projection Derangement Syndrome (PDS)?

[KireB]

The US is creating a ripple effect in global supply and demand, which is very risky. 
What would be fair, however, if the rest of the world denounce the dollar as international reserve currency for oil trading. 

[JAG]

The "rest of the world" is rather more than debris scattered around the fringes of the United States. I can't personally think of anything that we trade with the US that cannot either be obtained or sold elsewhere.

 

Let us just leave the US to crack on alone, and concentrate on trading with the rest of the world.

[Yagoda]

20 minutes ago, LosLobo said:

You seem confused about the characteristics of National Socialism, -- is that the other or just the usual MAGA Projection Derangement Syndrome (PDS)?

Open topic, find it and post. Isnt that cute with your little syndrome and initials.

[Yagoda]

33 minutes ago, billd766 said:

quote

 

1 hour ago, Yagoda said:
Go for it. They already have started their war with US by imposing  National Socialist type policies on our companies. Lets see who blinks first.

 

This a typical response from @Yagoda It doesn't matter to him that US citizens will have to pay the extra costs, as he apparently lives in Cambodia. It also doesn't matter that Trump started this whole tariff business in the first place.

 

In my mind, I can see how he gets told what to say by his master.

 

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcRd8Jb5cY91TpZ70Esvt57t14oNUqN_7SJl32391z1rn8A5uxmybD_LajY&usqp=CAE&s

How sad. A whole post more about me then the subject.

[Patong2021]

US is a service based economy.

Consumers and multinationals located outside the USA  can start by reconsidering which financial institutions and professional firms they transact with. There are alternatives to JP Morgan, Chase etc.. There are alternatives to international insurance brokers like Marsh, Aon, Willis etc. There are alternatives to the big accounting firms like KPMG, Deloitte etc. There are alternatives to some of the US dominated international law firms. There are alternatives to US insurers like CIGNA, AIG, CNA and Berkshire Hathaway.

One need not fly on any US international flights (not that anyone wants to), nor transit US cities to go to some countries. One can even easily avoid US master hospitality chains like McDonalds, Pizza Hut and hotel chains like Marriott, Hyatt and Hilton. 

 

All it takes is some courage and resolve, Inflict some pain and they USA will get the message. All it needs is a  dip of 5%-10% and  the USA will reconsider.

 

Navarro the convicted felon is the  man behind this nonsense and he is wrong.

 

[jvs]

1 hour ago, BritManToo said:

Unfortunately, western manufacturers mandated to pay $20/hour cannot compete with foreign manufacturers paying $1/day.

 

Without a manufacturing base your country is doomed.

 

Yes, this will push up the price of goods, but hopefully your citizens will be able to pay for them with the wages they earn in manufacturing.

Even if companies decide to build new factories in the USA it will be a few years before they can produce.

Every one is waiting for the flip to flop and back again.

Surprising to a lot of people however is the fact that those (maybe) built new factories will have a minimal number of workers.

All robotics, just a few people for monitoring and maintenance.

Where will the robots and chips come from?

[GammaGlobulin]

OBVIOUSLY....

 

To a very major extent...

It has been the US Importers who have been responsible for keeping import duties to the US low, especially China, Taiwan and other countries.

 

If there is true reciprocity, then Trumps experiment is long overdue.

 

There is really no reason for the USA to help protect overseas manufacturers.

 

Of course, the US manufacturers in China will not be happy...and this is Trump's point.

 

Unfortunately, China is set up so that one must manufacture in China to gain access t the Chinese market, and factories must be joint ventures, etc.

 

Will this change?

 

 

[Cameroni]

11 minutes ago, Patong2021 said:

There are alternatives to JP Morgan, Chase etc.. There are alternatives to international insurance brokers like Marsh, Aon, Willis etc. There are alternatives to the big accounting firms like KPMG, Deloitte etc. There are alternatives to some of the US dominated international law firms.

 

This statement betrays massive ignorance of how the world actually works. The reality is that US law firms and US investment banks have expertise which other investment banks and law firms simply do not have. If a major bank wants to do a securitization they want the BEST lawyer and the best team doing it. They know who is the best lawyer, who has the best team and the best expertise. They are NOT going to say oh well, we want to do a 900 million securitization but we won't engage Chris McBride from Mayer Brown because we don't like the politics of the US White House.

 

I mean that's just massively ignorant thinking.

 

This is why the US do not need to worry. They have expertise others do not have. In addition they have a massively attractive market. No matter what politics is happening companies will want to be in that market making money from Americans. There are Chinese firms in America now, sitting it out, while they hate Trump, they know they still need to be in the US market.

 

It's ludicrous to think or hope otherwise.

 

 

[Screaming]

2 hours ago, placeholder said:

Service sectors — which include the finance, travel, engineering and medical industries and more — make up the bulk of the American economy. Exports of these services brought more than $1 trillion into the United States last year.

But that dominance also gives other countries some clout in negotiations — including the ability to impose some pain on the U.S. economy as they look to retaliate against Mr. Trump’s tariffs on goods.

 https://archive.ph/p61f5

Ha, Ha what a joke you post. Actually Prime Minister Paetongtarn Shinawatra just announced that "Thailand will negotiate with the United States on tariffs." 

 

https://www.bangkokpost.com/business/general/2994532/thailand-will-negotiate-with-us-on-tariffs-says-paetongtarn

 

So the left wing is losing again to a real winner, Trump. MAGA

 

 

 

[jerrymahoney]

Tim Cook Apple CEO said this in 2017 but still being widely quoted:

 

Contrary to the popular belief that companies flock to China for cheap labour, Cook said that this narrative is outdated. "The popular conception is that companies come to China because of low labor costs. I'm not sure what part of China they go to, but the truth is China stopped being the low labor costs country many years ago," Tim Cook stated, clarifying that the decision to manufacture in China is driven by a different set of factors.

 

Cook highlighted the unparalleled concentration of skilled labour in China as the primary reason for Apple's manufacturing presence there. He elaborated on the advanced tooling and precision required to produce Apple's products, noting that China's vocational expertise in these areas is unmatched globally.

 

"The reason is because of the skill, the quantity of skill in one location, and the type of skill it is," he explained. "The tooling skill is very deep here. In the US, you could have a meeting of tooling engineers, and I'm not sure we could fill the room. In China, you could fill multiple football fields."

 

https://www.inc.com/glenn-leibowitz/apple-ceo-tim-cook-this-is-number-1-reason-we-make-iphones-in-china-its-not-what-you-think.html

 

 

[JonnyF]

Trump is only charging half the amount of tariffs that these countries are putting on US goods in many cases.

 

They should be careful, he has left plenty of wriggle room to increase them further if any of these little tinpot countries start getting chopsy. 

 

If they've got any sense they will dramatically and immediately reduce the tariffs on US goods and thank America for being gullible enough to allow them to take advantage of the US for so long.  

 

Nice move Donald me old son, nice move.

[Bannoi]

Trump has effectively just declared economic war on the world. 

I would hate to be an American right now.