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My dream scenario: The rest of the world would band together and upper the mininum tariffs levels against US imports to 10% for 90 days.
by lysace 2y ago
My dream scenario: The rest of the world would band together and upper the mininum tariffs levels against US imports to 10% for 90 days.
- thehappypm 2y ago[flagged]
- lysace 2y agoAnd offered 0% tariffs on all physical goods (that includes agriculture) weeks ago. But no, Trump is financially illiterate and doesn't understand the concept of VAT.
- bboygravity 2y ago39% on agricultural imports from the US. Lee Kuan Yew referred to Europe as "fort Europa" for a reason many decades ago..
- thiht 2y agoWe don’t want a race to the bottom when it comes to agricultural products. American products are cheap but they suck. Ours are better but more expensive. Making American crap expensive is good for us. That’s a good use of tariffs: avoiding flooding the market with inferior products at the cost of local made.
- MaxHoppersGhost 2y agoMost countries have tariffs on the US. The media would have us believe Americans are the first ones to ever do it.
- Icingdeath 2y agoI think it's not that bad, when you consider all goods ands services: "For technical reasons, there is not one “absolute” figure for the average tariffs on EU-US trade, as this calculation can be done in a variety of ways which produce quite varied results. Nevertheless, considering the actual trade in goods between the EU and US, in practice the average tariff rate on both sides is approximately 1%. In 2023, the US collected approximately €7 billion of tariffs on EU exports, and the EU collected approximately €3 billion on US exports." https://ec.europa.eu/commission/presscorner/detail/en/qanda_25_541 https://ec.europa.eu/commission/presscorner/detail/en/qanda_...
- lawn 2y agoThere's a huge difference on charging tariffs on only cars and charging tariffs on everything.
- MaxHoppersGhost 2y agoThey EU has a tariff on literally anything that comes in called the Commons Customs Tariff.
- kgwgk 2y agoYou forgot to mention that the tariff is literally zero in many cases (depends on the product and country).
- kgwgk 2y agoStill much lower than the US tariff on EU cars. (Those remain.)
- peterfirefly 2y agoA reasonable compensation for the trade barriers in the US. If anything, it's too low. Why do Peterbilt trucks still exist? Don't US truckers deserve to drive Scanias and Volvos?
- bluGill 2y agoVolvo and Mercedes (freight liner) trucks are popular in the US. Truckers tell me Peterbuilt makes a good truck and compete well, but since I don't drive a truck I can't tell you what makes them better. I can tell you that Volvo and Mercedes are considered basic trucks for companies to own, while those who own their own truck like pay extra for luxury features in a Peterbuilt. (the only luxury I can see though is chrome decorations, again not being a trucker I have no clue if anything else is better or not)
- 01HNNWZ0MV43FF 2y agoMy dream remains a global common market
- timewizard 2y agoWithout global regulation? I think you'd need a lot of luck to survive in that environment. Even with global regulation. I think it would take a decade to do what the federal governments could otherwise do in a year. The EU is an instructive example here.
- SpicyLemonZest 2y agoThe fundamental problem is that tariffs are a tax on the citizens of the country that charges them. Retaliatory tariffs that are high enough or specific enough to shape immediate consumption decisions can move the needle (which is why you do see such responses happening). A universal 10% tariff can affect its target in the long term, but as a short term measure it does nothing but take money out of the pockets of local businesses.