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I've not commented on this as I know absolutely nothing about global economics. My opinion is that this seems to be quite beneficial to America as opposed to negative for the rest of the world but, as I said, I know nothing. I do, however, admire Trump in, yet again, daring to make massive changes to the way the USA is run - right or wrong. Just as he tries to get peace in Gaza and Ukraine - whether or not it succeeds. I could see sense in his outrage that the USA were basically funding NATO where other countries (including the UK) were not contributing their share.
I'm still not a Trump fan, disagreeing with many of his policies, but I like the way he is not prepared to obey media and the shouters.
Ordinary Americans will see possibly a 40% hike in many goods including clothing as much of it made in Asia sharing the brunt of the heaviest hits. Coffee, Trainers, and electrical goods especially iPhones as nearly all come from China. European wine and beers also super expensive. Trump appears to have zero value of money recently saying he didn't care about price hikes personally. $3m of taxpayers money to play golf at weekends. China retaliate and I applaud them. Starmer dithers. Of course.
Tariff wars have precipitated dreadful conflicts including perhaps the most famous..the Boston Tea Party leading to the American War of Independence which the so maligned (by Trump) French financed and fought for the US side.
A tariff war precipitated the Wall Street crash of 1929 & ushered in the Great Depression.
However my personal view is that Trump will end up (or some sane American on his behalf) re-negotiating many of these tariffs.
I reckon Trump will have precipitated the biggest re-alignment of world allies and we are seeing the beginning of the end of the US Empire which has dominated the 20th / 21st Centuries.
NE & SE Asia will align with China & Japan and the world's third biggest economy India.
Europe will become more united.
(I wonder how much the Saudis lost on the stock market yesterday?)
The aims of the Trump ridiculous tariffs that initially raise prices for Americans and in particular the MAGA less affluent crown will not be realised.
Which US industry is going to invest tens of $millions or even $Billions in re-establishing US manufacturing with a volatile leader who changes his mind so easily?.
And the sheer nastiness of some tariffs..Vietnam and Cambodia. What in the Hell have they even done to the American people?
Rather look how the US killed millions of them for nothing.
Ah don't misunderstand me Hedda. I have absolutely no opinion on whether or not tariffs are a good or bad idea. And my opinion would be worthless anyway. I am in no position to predict or influence such matters. Unlike immigration - where I feel obliged to express my thoughts on the morality. Or Gaza - where I'm entitled to say "Stop killing people" to BOTH sides.
I have absolutely no opinion about cancer, it could be bad or good. At least Mr Oswald Turnip is trying something different with his Fermented Turnip Juice.
JK2006 wrote: Ah don't misunderstand me Hedda. I have absolutely no opinion on whether or not tariffs are a good or bad idea. And my opinion would be worthless anyway. I am in no position to predict or influence such matters. Unlike immigration - where I feel obliged to express my thoughts on the morality. Or Gaza - where I'm entitled to say "Stop killing people" to BOTH sides.
Yes understand and tariffs..or Import Tax as it used to be called is complex.
I have a feeling that Trump has inadvertently changed the world order in a way he hasn't imagined.
The US will now be seen as a fair weather friend and new more permanent alliances will be made.
The US owes enormous unimaginable debt $33Trillion ($7Trillion added by Trump in his first term via tax cuts for the rich) and the US economy may crash as exports plummet (in his first term he tanked the Soya Bean market to China via tariffs so they went to South America and US farmers had to be bailed out by $Billions).
Japan who holds the most US debt is divesting. Saudi Arabia who will dominate the ME is using local currencies.
All posters seem to know far more about tariffs than I - not only are they of no interest to me at all but I'm intentionally uninformed about such things. I know nothing. I want to know nothing. It bores me. It does not affect me.
JK2006 wrote: All posters seem to know far more about tariffs than I - not only are they of no interest to me at all but I'm intentionally uninformed about such things. I know nothing. I want to know nothing. It bores me. It does not affect me.
Yes I can't get to the end of a news item sentence on them and don't understand or know how all this will all play out either. Hopefully all the tensions won't lead to a physical war, but my gut tells me launching trade wars across the globe isn't conducive to world peace. Hopefully I am wrong.
I'm sorry Al - paying a few quid more for an iPhone has no impact at all on my life. If sausages double in price and I can't afford them, I'll eat half as many. I simply don't have enough empty brain cells to fill them with rubbish over which I have no control.
And WYOT - yes all the news media tells me trade wars benefit nobody. Really? Grow more avocados and sell them cheaper. Give work to the unemployed. Funnily enough that was what I told friends in Morocco 50 years ago and now most imported avocados in Europe are from Morocco.
Why would you pay more for avocados or an Iphone, Nikes or even avocados JK when the UK (well not yet) isn't putting an import duty on them?.
It's Americans who will be paying higher prices as it's spent decades outsourcing manufacturing to the point where so much is imported from Asia.
To be fair Trump (Biden, Obama ,Bush etc) inherited these problems not of their own making rather the US corporate class are the offenders here .
Now the same corporate class who outsourced, demand more and more tax cuts while having created the problem.
Again, giants like Walmart and Costco as examples who are fantastically cheap selling everything under the sun but manufacture virtually nothing in the USA and import all their goods from Asia.
It's the Average Joe in the US who will be paying higher prices (including the MAGA crowd) or, will they just spend less which if 10s of millions do, risks sending the US into recession.
JK2006 wrote: I'm sorry Al - paying a few quid more for an iPhone has no impact at all on my life. If sausages double in price and I can't afford them, I'll eat half as many. I simply don't have enough empty brain cells to fill them with rubbish over which I have no control.
And WYOT - yes all the news media tells me trade wars benefit nobody. Really? Grow more avocados and sell them cheaper. Give work to the unemployed. Funnily enough that was what I told friends in Morocco 50 years ago and now most imported avocados in Europe are from Morocco.
I agree JK, new phones are just a cash cow for a corporate giant. Android phones are just as good and cost much less. A lot of people sell their upgrades and keep their old phones a bit longer before departing with them for another upgrade in a couple of years.
When I see young people with top-notch phones all they do is take selfies or their dinner in resturants and post them on Instagram, it's pathetic. If it's not work-related the only time I take my phone outside is when I do a Post Office run for the QR code to be scanned when I sell online.
Not forgetting drug dealers do seem to do well with 3 burner phones in their pockets.
Britain hasn't responded with tariffs so UK avocado prices remain the same for now.
Trump's tariffs have to go to Congress and the Senate to be passed as the President cannot create new taxes. I suppose a compliant Congress will pass them.
Was this a sign of things to come?
In the Rose Garden where Trump signed off on his tariffs (after oddly wandering off to the side) he was cheered on by US auto workers.
Al Gershwin wrote: So far today - on my current trip abroad - my phone has:-
- booked my flight and accommodation
- paid for my taxi to the airport
- will pay for my hotel taxi, in euros
- pay for meals/drinks
- act as my diary
- allow me to communicate with clients, anywhere
A good phone - nowadays - is a major part of business life. Leisure too.
Yes good examples of how millions of Brits and others around the world now rely on cell phones to conduct daily affairs.
This omelette just can't be unscrambled and "burner phones" as a replacement are hardly a solution despite the very fact virtually all alternative mobile phone solutions are made in Asia and not the USA, UK or Europe.
But US tariffs so far have not raised UK prices, if prices rise it will be in the USA so Trump's "solution" is that overnight he has raised prices for Americans, no-one else to date.
But these tariffs still have to be approved by Congress before they can go into effect but there are reports that some prices, luxury UK cars for example, have risen sharply in the US already in anticipation.
Re:TRUMBut you stillP and tariffs 3 Weeks, 3 Days ago
Al Gershwin wrote: So far today - on my current trip abroad - my phone has:-
- booked my flight and accommodation
- paid for my taxi to the airport
- will pay for my hotel taxi, in euros
- pay for meals/drinks
- act as my diary
- allow me to communicate with clients, anywhere
A good phone - nowadays - is a major part of business life. Leisure too.
But you can't leave your phone on top of the bedside table and get it to wake you up with a hot cup of tea like a Goblin teasmade did way back in the 1970's!
Trump has announced he may impose 110% tariffs on China so those Iphones and burner phones would more than double in price (for Americans who must buy them in the 10s of millions).
Costco, Target, Walmart and probably every US department store would have huge prices rises on goods if he did but it could just be a bluff.
So far it's the poor Yanks in the frame here who will not only be paying higher prices if all this happens but have to watch their savings on shares plummet. Of course Wall St may recover. Or may not.
I reckon he wants every world leader to come begging and maybe some will.
Hilariously this was just tweeted out by the Chinese government.
Times are different of course as he appears to be just talking about Japan when the entire world (including Penguin Paradise Heard Island) is now involved.
Reagan always seemed very personable but I can't forget that actor James Garner said when both ran the Actor's Union that Ronnie was the stupidest man he ever met.
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