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Politics Tariffs/Trade Wars
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US imposes a 17% duty on fresh Mexican tomatoes in hopes of boosting domestic production
The U.S. government says it's placing a 17% duty on most fresh Mexican tomatoes after negotiations ended without an agreement to avert the tariff.
apnews.com
Canada's first large-scale shipment of LNG delivered to port in South Korea
A tanker carrying Canada's first major shipment of liquefied natural gas has arrived at a South Korean port. Find out more.
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Lutnick the genius
www.ft.com
Cracks widen in Japan and US’s interpretation of tariff trade deal
Tokyo officials contest Washington’s claim that American investors assured of vast share of profits from joint investment
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Deal settled. 15% tariff for Imports from EU & purchases of US energy and military goods.
www.reuters.com
US, EU agree trade deal, EU will see 15% tariff across the board
The deal includes significant EU purchases of U.S. energy and military equipment and $600 billion in investments in the U.S. by the European Union, Trump said.
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Were those clips from time when Trump showed his artwork where EU had 30 % tariffis? And they dropped to 10 % for a while?
And now we can clearly say that tariffs won't affect inflation and thus FED will be able to lower the rates? Never knew fox news was this smart.
There's no timetable given yet, or any details. It just like the Japan deal, Trump gets a domestic win and that's that.
Most likely it's an estimate of what European companies will invest in some time period.
Just like the clause of buying energy. EU has agreed to buy US$750 billion in "energy" from the US, but the EU as a whole only consumes 80% The EU imported 375B of fuel in 2024. We aren’t buying 750B per year from US, its stretched to 3 year period.
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That's indeed the case, as per 'Politico': (Link)
The tarrifs are indeed a win for America, especially considering no tarrifs will be levied in return. On the other hand, the fact that American companies will not be granted exceptions on quality standards, privacy protection and local taxes is a win for Europe.
All the other clauses are just window dressing, though. Brussels essentially managed to sell policies as concessions which the Europeans were going to pursue anyway. For instance, the clause on armament procurement is virtually a waste of ink. Current demands in Europe exceed the output of our own defence industry complex anyway; where else were we going to buy?
And I think it's cute Trump actually thinks tariffs were what's stopped Europeans from buying American cars (instead of fuel consumption, impractical dimensions and panel gaps wide enough to see inside).
That'll be another angry rant on X when he sees the numbers next year.
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yup the zero tariffs on American cars in the Philippines would probably mean nothing, only American cars I actually have an interest in is a Corvette. Well the politicos will get a cheaper convoy budget for their suburbans.
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Expert states that the numbers seem to be pulled out of a hat.
A special detail in the customs agreement caught the eye – expert: “The figures were completely pulled out of a hat”
“It seems that Trump has been promised some large figure that has been completely pulled out of a hat in order to avoid even higher tariffs,” says Ronkainen.
Ronkainen says that this appears to be a political framework agreement for which no guarantees have been agreed.
The details of the agreement have not yet been published. However, it is known in outline that the EU would buy energy from the United States worth 250 billion dollars over three years, i.e. a total of 750 billion dollars.
In addition, an agreement was made on 600 billion dollars in investments that would be made from Europe to the United States. The amount would include arms sales.
In total, it would amount to 1,350 billion dollars. That would be the same size as the EU's previous seven-year budget, which was 1,200 billion euros, or about 1,385 billion dollars.
Finland's Finance Minister Riikka Purra (PS) had already wondered about the amount, calling it a "grease package" in X and questioning whose mandate it was agreed upon.
In the Politico story, EU insider sources say that the EU cannot afford such promises, and that Brussels knows it. The 600 billion dollars in investments would come from private companies, although the EU cannot force European companies to invest. Ronkainen agrees.
- The Commission and the EU budget do not have that kind of money. And the Commission cannot promise member states' money to anyone. The promised amount may reflect the financial flows of companies to the United States, but the Commission cannot decide on behalf of companies, he says.
If the investments were to be realized on this scale, which Ronkainen considers highly unlikely, it would be out of the scope of intra-European investments.
– After all, it is a huge amount of money.
He understands the arms trade promise, because the European NATO countries will have to increase their defense spending anyway because of this summer's agreement.
– But even then, the Commission cannot decide on behalf of its member states what to spend their money on. And how would it even be monitored? It seems strange and unrealistic from the start.
Erikoinen yksityiskohta tullisopimuksessa kiinnitti huomion – asiantuntija: ”Luvut vedetty täysin hatusta”
Riikka Purran ihmettelemä 1 350 miljardia on tutkijankin mukaan epärealistisen paljon.www.is.fi
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Weren't the claims these tariffs were supposed to have utterly wrecked the US economy by now?
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Yes.
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Personally, I'd like to see it all go to pay down the debt.
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Especially since $600 isn't a lot.
Depending on your outcomes and ways you spend your money, of course.
But for some households, a $600 check can at least pay for a few months of groceries.
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Yes thats what I meant.
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handing out basically tax revenue back to citizens?
This meme is 5 months old now, but still relevant.
View attachment 534567
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Yeah... like the "any day now" and the other "the walls are closing in" kind of memes.
They get old, especially when repeated ad-nauseam and never actually deliver.
They get old, especially when repeated ad-nauseam and never actually deliver.
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