Politics Tariffs/Trade Wars

[muck]

German Chancellor Friedrich Merz told Donald Trump to end his trade war and eliminate tariffs.

"I told him that, in my view, escalating this customs dispute is not a good idea," Merz said at press conference in Brussels. "The best solution would be 'down to zero' for everything and for everyone."

Merz spoke to the U.S. president during a phone call on Thursday. On Friday, he visited the Belgian capital for meetings with EU and NATO bosses. “At least in the short term, I hope we can make steps on lowering the existing tariffs,” Merz said alongside European Commission President Von der Leyen. “And in the long term also on a trade deal.”

Merz stressed the EU and U.S. should have a mutual zero-for-zero deal, something the Commission has also floated on industrial goods. It contrasts with Trump’s narrow new trade deal with the U.K., which keeps the 10 percent tariffs on British most goods in place, and which Merz praised on Friday.

The new chancellor also lamented that previous talks on a transatlantic trade deal never concluded. “Today we know, how valuable that could have been," he said. "Sadly, that’s spilt milk.”

Merz argued that aside from tariffs, the EU should offer “broad recognition” of technical standards because of “great potential for opening up of markets.” An example would be rules around cars. (Source)

Indeed, TTIP would've been the best solution for everyone. But then came Europe's fear of chlorinated chicken and the disdain of corporate America for data privacy rights …

 

[Chazman]

Indeed, TTIP would've been the best solution for everyone. But then came Europe's fear of chlorinated chicken and the disdain of corporate America for data privacy rights …

I'm fairly certain the baseline will be 10% tariffs, except for China.

 

[Junglejim]

Detroit automakers fuming after Trump’s first trade deal gives preferential treatment to imported U.K. cars over their own

'Under this deal, it will now be cheaper to import a UK vehicle with very little U.S. content than a USMCA compliant vehicle from Mexico or Canada that is half American parts.'

www.aol.com

https://finance.yahoo.com/news/us-farm-economy-starting-see-151751718.html

Progress... I guess

China agrees to US trade talks

China has agreed to the first major talks with the US since Donald Trump imposed sweeping tariffs and launched a global trade war.

www.yahoo.com

 

[muck]

I'm fairly certain the baseline will be 10% tariffs, except for China.

We will see, but I'm not optimistic. The EU offered Trump zero-zero tariffs during his first term. Can't be the tariffs then.

 

[primer]

But still included VAT...sneaky sneaky. Ok I await the technocrats that tell me its not a tariff whom I will ignore..as usual.

 

[PEMM]

But still included VAT...sneaky sneaky. Ok I await the technocrats that tell me its not a tariff whom I will ignore..as usual.

Yes, we've noticed. Too difficult to understand I guess.

 

[primer]

Well I pay it on the same invoice so there..

 

[PEMM]

Good for you.

 

[primer]

I can see why the Russians gave up.

 

[PEMM]

At least you know who pays the tariff.

 

[Chazman]

We will see, but I'm not optimistic. The EU offered Trump zero-zero tariffs during his first term. Can't be the tariffs then.

I don't know of course, just going off of what I read and hear. But I don't think zero-zero is on the table any longer. Trump sees tariffs as a way to raise money and use that to lower taxes and start paying down the unsustainable debt. If everyone is friends with no issues, you will pay 10% for access to the most lucrative market on the planet.

If the US has problems, like with fentanyl, IP theft, trans shipping to avoid tariffs, etc., ie., China, the tariffs will be quite a bit rougher.

 

[Chazman]

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[Chazman]

Maybe down to 80% tariffs for China.

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[primer]

If US company is a big buyer its either the Chinese contract maker sucks it up or its bye and hello India, Jordan, Thailand, Nicaragua, Taiwan etc. Or eventual bye.
China's stropy behavior with its neighbors, covid lying along with merchantile practices... the patience no longer exists in the US.
China has leverage with NZ due to reliance on dairy and logs, basic raw resources and our Temu PM and ex Helen Clarke think that their decades of open economy free trade is awesome....health system a good coal mine canary as its resoured here so the costs are relative to the economy and what it can afford say's otherwise. It's in a catatonic state when we used to have comparatively to other countries leading class care.
The Milton Friedmans of the world tend to not mention the declines. The waisted atrophic parts of the economy they said we don't need.

 

[HorniePonie]

But still included VAT...sneaky sneaky. Ok I await the technocrats that tell me its not a tariff whom I will ignore..as usual.

If the US wants to fairly counter tariff VAT, they must collect the same tariff from the US companies too.

 

[PEMM]

.health system a good coal mine canary as its resoured here so the costs are relative to the economy and what it can afford say's otherwise. It's in a catatonic state when we used to have comparatively to other countries leading class care.

It not related to aging population and decreasing number of kids (tax payers)?

 

[primer]

Are production line jobs high paying in America? I was on two before I got my degree and they were low paying (1500€/month), assembling machinery. Comparable to cleaners or burger flipping.

Specialists like welders and machinists are the ones with good wages.

Its also the tax they generate besides the $18 Big mac vs the $36 at the mill

 

[primer]

It not related to aging population and decreasing number of kids (tax payers)?

Migrants.
There has been no change in the poplulation growth since the 60's, and the trend is for the trained to go overseas for better wages and replaced by migrants. Go into any ward in NZ and you will believe you are in India.
Eyes glaze over, just normal, back to my bed and fingers crossed. Everything they told us was just normal..no need to worry. Trump arrives. And frankly pissed of judging by demeanor lately, china 130% tax and at the rather stupid state of affairs at many levels.

 

[muck]

But still included VAT...sneaky sneaky. Ok I await the technocrats that tell me its not a tariff whom I will ignore..as usual.

What? Well … Nothing technocratic about it: VAT is not a tariff. And local competitors are subject to the very same levy.

 

[primer]

How is that indifferent for tariff?
Same feature as local competitors are subject to the very same levy.

GST generates revenue for the government to fund public services, infrastructure, and other public benefits

Governments primarily use tariff revenue for general government spending,

Performs the same ultimate function in the end and both are applied and paid at the border on the exact same invoice and goes to the same place..