Trump reveals the 100 executive orders he plans for White House return, TARIFFS
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mailmandan
Well-Known Member
Trump reasserts towering 100% tariff threat against BRICS countries
President Donald Trump reiterated his threat of 100% tariffs against BRICS nations, demanding that they pledge not to challenge the U.S. dollar.
BRICS is an acronym that refers to the nations of Brazil, Russia, India, China and South Africa, though the bloc also includes several other countries, as well.Trump reasserts towering 100% tariff threat against BRICS countries
President Donald Trump reiterated his threat of 100% tariffs against BRICS nations, demanding that they pledge not to challenge the U.S. dollar.www.foxbusiness.com
No more cheap China electronics? Only country in the list that does significant trade with us.
Donald Trump has proposed eliminating the federal income tax to return the U.S. to its wealthiest period in history. This idea has sparked mixed reactions among economists and market experts.
During a conference in Doral, Florida, Donald Trump presented his controversial plan to eliminate the federal income tax. According to "Fox Business," Trump argues that, instead of taxing citizens, the country should focus on tariffs that would enrich Americans.
Trump reminded his audience that from 1870 to 1913, the United States relied mainly on tariffs, which made it the wealthiest country in the world. The proposal includes creating a new agency responsible for collecting revenue from tariffs.
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Benefits those who actually pay federal income tax
During a conference in Doral, Florida, Donald Trump presented his controversial plan to eliminate the federal income tax. According to "Fox Business," Trump argues that, instead of taxing citizens, the country should focus on tariffs that would enrich Americans.
Trump reminded his audience that from 1870 to 1913, the United States relied mainly on tariffs, which made it the wealthiest country in the world. The proposal includes creating a new agency responsible for collecting revenue from tariffs.
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Benefits those who actually pay federal income tax
Well consumers pay the tariff so he intends to eliminate Tax by making foreign product more expensive in the USA good luck with that.People have to buy those now expensive products in the USA for your tax to be paid.Americans still pay all the tax either way.
If those products don't sell because their more expensive how is it going to pay you tax.In order for it to work Americans have to buy those products with tariffs on them.Sounds like guaranteed inflation.
Wood is a good example the USA can never produce enough wood for construction of homes so they use up internal supplies and then use wood with a tariff raising constructions costs.You get gouged every time.There is a tariff on it but you still buy the wood and a lot of it and Americans pay the tariff when its purchased which goes to your Government. The money does not come from the other country.
If those products don't sell because their more expensive how is it going to pay you tax.In order for it to work Americans have to buy those products with tariffs on them.Sounds like guaranteed inflation.
Wood is a good example the USA can never produce enough wood for construction of homes so they use up internal supplies and then use wood with a tariff raising constructions costs.You get gouged every time.There is a tariff on it but you still buy the wood and a lot of it and Americans pay the tariff when its purchased which goes to your Government. The money does not come from the other country.
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Biden raised tariffs already on wood from Canada!
U.S. Nearly Doubles Canadian Lumber Tariffs
The U.S. Department of Commerce today raised tariffs on imports of Canadian softwood lumber products from the rate of 8.05% to 14.54% following its annual review of existing tariffs.
www.nahb.org
Tariffs already exist on imported goods from other countries. Wood has gone through lots of price increases in the US over years.
Tariffs tend towards scarcity, which will raise prices for consumers, as tariffs raise the cost of ownership of things.
Crude oil futures moved higher in after-hours trading Friday as President Trump said U.S. tariffs would apply to crude, although he may reduce levies on Canadian oil from 25% to 10% beginning around February 18.
The president said he would also raise tariffs on imported steel, aluminum and eventually copper as well.
Trump had threatened a 25% tariff on Canadian and Mexican exports to the U.S. on February 1 and had not clarified if oil and gas would be exempt.
U.S. WTI crude rose more than 1% post-market to $73.81/bbl after closing lower during regular trading.
Some 80% of Canada's 5M bbl/day of crude production flows downstream to U.S. refiners, with U.S. imports of Canadian crude reaching a record high of 4.42M bbl/day in the week ending January 3, according to the U.S. Energy Information Administration.
Analysts say tariffs on oil could cause U.S. gasoline prices to rise, because several U.S. refineries rely on processing Canadian oil; if the tariffs were passed completely along to consumers, it could raise gasoline prices by $0.35/gal in parts of the country, Tom Kloza at the Oil Price Information Service said.
Meanwhile, the market awaits an OPEC+ meeting scheduled for next week to see the group's response following U.S. sanctions against Russian oil and Trump's call to lower prices.
Will know today
U.S. President Donald Trump said there is nothing Canada can do "right now" to avoid new tariffs that will be imposed starting Saturday — including on oil — just hours before that deadline was set to kick in.
Canada and Mexico are set to face 25 per cent tariffs on all goods imported to the U.S., but Trump said he may lower that number to 10 per cent on Canadian oil.
″I’m probably going to reduce the tariff a little bit on that," Trump said from the Oval Office Friday evening when asked about exemptions for oil. “We think we’re going to bring it down to 10 per cent."
Trump reiterated familiar complaints about fentanyl flowing into the U.S. from Canada and Mexico and the longstanding trade deficit the U.S. has with Canada.
China is set to face a 10 per cent tariff starting Saturday as well, on top of existing duties, which Trump said is also due to fentanyl.
He denied the threat of tariffs were being used as a negotiating tactic to get those countries to do more on border security, and it was "purely economic."
"We're not looking for a concession," he said. "We'll see what happens."
U.S. President Donald Trump said there is nothing Canada can do "right now" to avoid new tariffs that will be imposed starting Saturday — including on oil — just hours before that deadline was set to kick in.
Canada and Mexico are set to face 25 per cent tariffs on all goods imported to the U.S., but Trump said he may lower that number to 10 per cent on Canadian oil.
″I’m probably going to reduce the tariff a little bit on that," Trump said from the Oval Office Friday evening when asked about exemptions for oil. “We think we’re going to bring it down to 10 per cent."
Trump reiterated familiar complaints about fentanyl flowing into the U.S. from Canada and Mexico and the longstanding trade deficit the U.S. has with Canada.
China is set to face a 10 per cent tariff starting Saturday as well, on top of existing duties, which Trump said is also due to fentanyl.
He denied the threat of tariffs were being used as a negotiating tactic to get those countries to do more on border security, and it was "purely economic."
"We're not looking for a concession," he said. "We'll see what happens."
Every time a tariff is put on a product Americans pay it no one else.Only an idiot would claim the other countries pay it.Its protectionism unfortunately every product have bits and pieces from many countries which will now have a 25% tariff from Airplanes to cars - they will all rise in price.
A tax on Americans for not buying American only.
A tax on Americans for not buying American only.
The other country suffers the loss of sales. Tariffs Duties, levies, taxes are all over the world. The new tariff may not be long term.
Rockerduck
Well-Known Member
I guess you didn't notice everything is going up in price anyway. America should have never pushed reliance on China for drugs, books, furniture and everything. USA could not compete with cheaper prices. Most company's are gouging us right now. Buy something from Wayfair, a desk, you have to put together and pay $350. It came on a container from China, Wayfair bought the container, the desk you bought cost Wayfair $5.
Tariff wars....
Trump’s order included a clause setting out even higher duties if Canada retaliated. But Trudeau said Canadians understand that the country must respond in a way that is “measured but forceful” — and that he was not looking to escalate the situation.
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Well Canada just did placing tariffs on US, 25% might go to 50%
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Prime Minister Justin Trudeau, speaking from Parliament Hill on a bitterly cold night in Ottawa, said Trump’s move left his government with no choice but to respond forcefully. Canada will place 25% counter-tariffs on C$155 billion ($107 billion) worth of American-made products, starting Tuesday.
The first phase will touch about C$30 billion of goods from US exporters, including orange juice, peanut butter, wine, coffee, motorcycles and cosmetics. A much larger list of US-manufactured products — cars and trucks, steel, aluminum, beef and boats, among other items — will be subject to tariffs later in February after a 21-day consultation period.
Trudeau began his announcement by saying he wanted to speak directly to Americans, and he invoked the shared history of the two neighboring countries and their longstanding security and military alliances.
Trump’s order included a clause setting out even higher duties if Canada retaliated. But Trudeau said Canadians understand that the country must respond in a way that is “measured but forceful” — and that he was not looking to escalate the situation.
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Well Canada just did placing tariffs on US, 25% might go to 50%
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Prime Minister Justin Trudeau, speaking from Parliament Hill on a bitterly cold night in Ottawa, said Trump’s move left his government with no choice but to respond forcefully. Canada will place 25% counter-tariffs on C$155 billion ($107 billion) worth of American-made products, starting Tuesday.
The first phase will touch about C$30 billion of goods from US exporters, including orange juice, peanut butter, wine, coffee, motorcycles and cosmetics. A much larger list of US-manufactured products — cars and trucks, steel, aluminum, beef and boats, among other items — will be subject to tariffs later in February after a 21-day consultation period.
Trudeau began his announcement by saying he wanted to speak directly to Americans, and he invoked the shared history of the two neighboring countries and their longstanding security and military alliances.
Rockerduck
Well-Known Member
So much for that extra jingle in your pocket its gone now not going to happen this trade war will go on as long as it has to everyone has much less retirements funds eroding layoffs coming - some of these countries have no idea why hes even doing it.I have started my own boycott of American products if its made in the USA I'm not buying it or I will go without their are lots of alternatives the war is on and everyone is ready to fight against this madness this can only hurt everyone
They were saying on a podcast this morning that they don’t think the tariffs will last and that they have been put in place in order to force the countries to deal with the fentanyl problem - I guess only time will tell.
The other is this idea that it will stop the drug flow - there are more meth labs within the USA to even come close to Canada = produced within the USA by American produced products .Stop the production of the drug used to make meth outlaw it but that would be so simple a new study says they don't even really work for a cold.Fentanyl comes from China ordered by rich American drug dealer who deal it out to their own people.Can't fix the problem if you don't understand it.Its back to the old failed drug policy of the past.Won't stop anything just make many criminals richer and they will line up for that chance no matter what the cost.These tactics have never worked.
American doctor prescribing massive amounts of Oxycontin and Fentanyl laced pain killers push to sell them by the producers paying off Government officials so business rule allow them to do this.But its everyone else s fault.
American doctor prescribing massive amounts of Oxycontin and Fentanyl laced pain killers push to sell them by the producers paying off Government officials so business rule allow them to do this.But its everyone else s fault.
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Rockerduck
Well-Known Member
A trade deficit is not caused by other countries it happen because the country cannot produce enough good to meet demand internally and require imports.The USA has a massive demand for goods and material they do not have because of the population.The only way to fix this problem is less demand or to produce those products and materials internally bring down imports slapping tariffs on them just makes things more expensive.The USAs demand will always be higher than what it produces internally and will require imports unless you want to isolate and use only American made and that is a big order that cannot be done with out serious damage to finances.
Nice to see Mexico and US agree no tariffs. Mexico agreed to beef up border security with 10,000 troops.
Trump nicely asked how long would they like before tariffs would start? Sheinbaum says never please we are partners, so Trump says let's give it a month for talks.
Trump nicely asked how long would they like before tariffs would start? Sheinbaum says never please we are partners, so Trump says let's give it a month for talks.
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