US Tariff War

Dax777 said:
A response could be to announce that unlike the American bully they will not harm their own citizens by putting on tariffs that would raise the cost of goods on their citizens.
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How does this work?
 
Donald Trump's tariffs have wiped £200bn from the crypto markets in just 24 hours.

some coins have suffered their biggest single day drop in years as investors race to pull their funds from riskier assets.

Bitcoin has recovered slightly after falling to lows of $93,000 in the early hours of Monday morning.

The downturn came days after the world's biggest digital asset finished a month at a price above $100,000 for the first time in its history.
 
MillionMilesAway said:
"We pay hundreds of Billions of Dollars to SUBSIDIZE Canada. Why? There is no reason. We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use. Without this massive subsidy, Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!"

Dos anyone think that this could possibly work? A whole 1 state, and 40-odd million permanently angry people (and some polar bears) to deal with.
It's insanity, or it's something an insane person thinks is a joke.

Maybe Trump just wants the rebels to rejoin the Commonwealth.
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If US has unlimited energy, they wouldn’t miss the 25% of US crude that is imported from Canada, nor would New York miss the electricity supplied by Canada at peak times.
 
FogBlueInSanFran said:
The only thing more predictable is a “both sides”, “we’ll have to wait and see” post from you that adds no value to the discussion whatsoever. :)
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Will City get Cambiaso? We’ll have to wait and see. Transfer speculators think they’re doing a job.
 
KS55 said:
If US has unlimited energy, they wouldn’t miss the 25% of US crude that is imported from Canada, nor would New York miss the electricity supplied by Canada at peak times.
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Stop asking such sensible questions! Do you not recognise Orange Genius?

I'm quite intrigued* by the play here. I could just about see the point in bullying one country, but to go after both neighbours, the EU and China at the same time seems a lot.

*not really.
 
So, now that all these tariff’s are in place, I take it that American no longer has to pay tax on income, VAT, etc?
 
The Future’s Blue! said:
So, now that all these tariff’s are in place, I take it that American no longer has to pay tax on income, VAT, etc?
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No income tax, no V.A.T
No money back, no guarantee
Black or white
Rich or broke
We'll cut prices at a stroke
God bless Hooky Street
Viva Hooky Street
Long live Hooky Street
 
BlueHammer85 said:
Donald Trump's tariffs have wiped £200bn from the crypto markets in just 24 hours.

some coins have suffered their biggest single day drop in years as investors race to pull their funds from riskier assets.

Bitcoin has recovered slightly after falling to lows of $93,000 in the early hours of Monday morning.

The downturn came days after the world's biggest digital asset finished a month at a price above $100,000 for the first time in its history.
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i can only hope Trump's maniac actions lead a Liz Truss like eviction. if he crashes the US economy he will get kicked out.
 
FENTANYL!!! It’s all about the FENTANYL!!!*

Oh yeah, 1% of Fentanyl crosses the Northern border. That’ll fix it!!

By the way, I thought these Republicans were big on the supply & demand capitalist equation? Isn’t the problem the U.S. DEMAND for fentanyl?!

* Dripping sarcasm
 
flook said:
Popped up this morning on bookface. I'm not an economist, but this guy appears to have his head screwed on:-

A cogent and elegantly simple explanation into the inexplicably destructive negotiating processes of the president, by Prof. David Honig of Indiana University.

“I’m going to get a little wonky and write about Donald Trump and negotiations. For those who don't know, I'm an adjunct professor at Indiana University - Robert H. McKinney School of Law and I teach negotiations. Okay, here goes.
Trump, as most of us know, is the credited author of "The Art of the Deal," a book that was actually ghost written by a man named Tony Schwartz, who was given access to Trump and wrote based upon his observations. If you've read The Art of the Deal, or if you've followed Trump lately, you'll know, even if you didn't know the label, that he sees all dealmaking as what we call "distributive bargaining."
Distributive bargaining always has a winner and a loser. It happens when there is a fixed quantity of something and two sides are fighting over how it gets distributed. Think of it as a pie and you're fighting over who gets how many pieces. In Trump's world, the bargaining was for a building, or for construction work, or subcontractors. He perceives a successful bargain as one in which there is a winner and a loser, so if he pays less than the seller wants, he wins. The more he saves the more he wins.
The other type of bargaining is called integrative bargaining. In integrative bargaining the two sides don't have a complete conflict of interest, and it is possible to reach mutually beneficial agreements. Think of it, not a single pie to be divided by two hungry people, but as a baker and a caterer negotiating over how many pies will be baked at what prices, and the nature of their ongoing relationship after this one gig is over.
The problem with Trump is that he sees only distributive bargaining in an international world that requires integrative bargaining. He can raise tariffs, but so can other countries. He can't demand they not respond. There is no defined end to the negotiation and there is no simple winner and loser. There are always more pies to be baked. Further, negotiations aren't binary. China's choices aren't (a) buy soybeans from US farmers, or (b) don't buy soybeans. They can also (c) buy soybeans from Russia, or Argentina, or Brazil, or Canada, etc. That completely strips the distributive bargainer of his power to win or lose, to control the negotiation.
One of the risks of distributive bargaining is bad will. In a one-time distributive bargain, e.g. negotiating with the cabinet maker in your casino about whether you're going to pay his whole bill or demand a discount, you don't have to worry about your ongoing credibility or the next deal. If you do that to the cabinet maker, you can bet he won't agree to do the cabinets in your next casino, and you're going to have to find another cabinet maker.
There isn't another Canada.
So when you approach international negotiation, in a world as complex as ours, with integrated economies and multiple buyers and sellers, you simply must approach them through integrative bargaining. If you attempt distributive bargaining, success is impossible. And we see that already.
Trump has raised tariffs on China. China responded, in addition to raising tariffs on US goods, by dropping all its soybean orders from the US and buying them from Russia. The effect is not only to cause tremendous harm to US farmers, but also to increase Russian revenue, making Russia less susceptible to sanctions and boycotts, increasing its economic and political power in the world, and reducing ours. Trump saw steel and aluminum and thought it would be an easy win, BECAUSE HE SAW ONLY STEEL AND ALUMINUM - HE SEES EVERY NEGOTIATION AS DISTRIBUTIVE. China saw it as integrative, and integrated Russia and its soybean purchase orders into a far more complex negotiation ecosystem.
Trump has the same weakness politically. For every winner there must be a loser. And that's just not how politics works, not over the long run.
For people who study negotiations, this is incredibly basic stuff, negotiations 101, definitions you learn before you even start talking about styles and tactics. And here's another huge problem for us.
Trump is utterly convinced that his experience in a closely held real estate company has prepared him to run a nation, and therefore he rejects the advice of people who spent entire careers studying the nuances of international negotiations and diplomacy. But the leaders on the other side of the table have not eschewed expertise, they have embraced it. And that means they look at Trump and, given his very limited tool chest and his blindly distributive understanding of negotiation, they know exactly what he is going to do and exactly how to respond to it.
From a professional negotiation point of view, Trump isn't even bringing checkers to a chess match. He's bringing a quarter that he insists of flipping for heads or tails, while everybody else is studying the chess board to decide whether its better to open with Najdorf or Grünfeld.”
— David Honig
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He reminds me of Brexiteers angry that their vote actually has no impact on whether the remaining 27 member countries actually give them what they want. They voted for something that actually relies on other entities to implement who were never going to. He seems to think he can basically legislate results, whereas what he can actually do is legislate rules, and the results naturally follow, and inevitably aren't what he wants/promised.
 
BlueHammer85 said:
Donald Trump's tariffs have wiped £200bn from the crypto markets in just 24 hours.

some coins have suffered their biggest single day drop in years as investors race to pull their funds from riskier assets.

Bitcoin has recovered slightly after falling to lows of $93,000 in the early hours of Monday morning.

The downturn came days after the world's biggest digital asset finished a month at a price above $100,000 for the first time in its history.
Click to expand...
Unfortunately, his election boosted it from around $70k to $100k in the first place, so it's still up.
 
ChicagoBlue said:
FENTANYL!!! It’s all about the FENTANYL!!!*

Oh yeah, 1% of Fentanyl crosses the Northern border. That’ll fix it!!

By the way, I thought these Republicans were big on the supply & demand capitalist equation? Isn’t the problem the U.S. DEMAND for fentanyl?!

* Dripping sarcasm
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He does seem to have difficulty remembering if it's the fentanyl or the trade deals, or something else.
 
Shock and Awe!

Create so many waves that NO-ONE can keep track of them all and most of it gets done without pushback.

2 weeks in and FUCKING CHAOS in the markets, Musk inside the Treasury, and Trump lunatics trying to take over the Govt, including Cabinet positions!
 
ChicagoBlue said:
FENTANYL!!! It’s all about the FENTANYL!!!*

Oh yeah, 1% of Fentanyl crosses the Northern border. That’ll fix it!!

By the way, I thought these Republicans were big on the supply & demand capitalist equation? Isn’t the problem the U.S. DEMAND for fentanyl?!

* Dripping sarcasm
Click to expand...
The Canadians make no effort to stop the drug crossing the border; witness the massive 19kilos seized by the U.S. south of the border.
 
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