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Specifics of only putting tariffs on 1kg bars and not other sizes seems utterly pointless. The article itself points out that people will just ship different si
by ralferoo 1y ago
Specifics of only putting tariffs on 1kg bars and not other sizes seems utterly pointless. The article itself points out that people will just ship different sized bars to the US instead and re-cast them on arrival.
It doesn't actually say what the new tariff rate will be, so the decision on whether to procure different sized bars / cast before shipping, and whether to recast in the US or just store / sell different sized bars in the US will ultimately just be a decision on whether all of that is cheaper than the new tariff. My guess is that at any significant volume, it'll be cheaper to recast.
- Terr_ 1y ago> Specifics of only putting tariffs on 1kg bars and not other sizes seems utterly pointless. So in other words, it matches the other damaging and/or stupid import taxes the federal government is imposing on Americans right now? :P Perhaps the ulterior motive is to damage consumer gold markets in order to promote somebody's cryptocurrency?
- metalman 1y ago[flagged]
- tchbnl 1y agoYou, uh, want to explain what exactly Switzerland is doing that's wrong and why we've been "whacking" all our allies as of late?
- metalman 1y agook,wtfn!,it's just that all those "allies" have been freloading while the US has been delivering democracy to the rest of the world, and as everyone knows B52’s are not cheap to run,and all those countrys are just not democraticaly paying up like they should, so as all these "allies" apparently already have democracy, standard methods wont work, so with great relief "fairness" has been invented and instead of B52's, god bless the almighty tariff to the tune of 50 billion a month and rising. happy?
- burnt-resistor 1y agoAll Swiss 1 kg gold bars will suddenly become laser-cut 500 g bars. It also might be malicious compliance by executive underlinings to soften the surprise.
- elcritch 1y agoWouldn't that be more like 499.5 grams?
- eqvinox 1y agoCan't laser cut them anyway, you'd lose the assay stamp. Melting & reforming is the way to do this.
- elcritch 1y agoWhat about shaving off a gram or two with a file? You know I'd personally volunteer to help them do that to avoid the tariffs.
- burnt-resistor 1y agoShave off 1±0.2 μg and sell 0.999999999 kg bars instead. :D
- jonbiggums22 1y agoWorks for the engine size limits. Aren't all 2litre engines actually 1950cc?
- burnt-resistor 1y agoProbably. It saves them money on material. As long as they don't quote $.002/MiB as .002¢/MiB. https://youtu.be/nUpZg-Ua5ao https://youtu.be/nUpZg-Ua5ao
- deleted 1y ago
- eqvinox 1y ago> Bullion traders had expected gold bars of one kilogram or 100 ounces to be exempt Reads to me as all gold bars getting tariff'd.
- jsnell 1y agoDoes sufficient capacity for recasting actually exist in the US or would it need to be built? If the latter, how long will it take to build it? I suspect it doesn't exist yet. In fact, the majority of the US trade deficit with Switzerland is attributable to a very recent spike in gold imports. And my understanding is that in turn is a triangular arbitrage trade where physical gold has higher prices in the US, so 400-ounce bars of gold were getting exported from London to Switzerland to be recast, and then to the US. This was never going to be a durable trade, since the arbitrage only existed due to an expectation of future tariffs on Gold. It probably also was a major contributor Switzerland having just been slapped by extremely punitive tariffs on actually productive sectors of the economy. Good riddance.