Trump pledges 25% tariffs on Canada and Mexico; more on China too

The Trump import tax policy should be applied in reverse to all American companies.

An international trade pack, excluding the US, should stipulate that American companies must make substantial investments in the countries they trade with, and it should be as a percentage of market share, profit, and other factors. If these companies are not creating jobs and have a total net positive impact, inclusive of job creation and taxes paid, a special tax must be levied on them.

China should also be punished for the subsidies it gives to business and distorting international trade.

A creative solution should be found to punish the nations that interfere in international trade in an unfair manner.

How it is accepted that the Office of the President has such sweeping powers is simply bonkers. Congress should play the largest role in business and commerce.

Article 1 of the USA Constitution, Section 8

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

madness.

an anarchist bent on destroying the united states.

first you destroy the economy with massive inflation and shortages in food and kill the construction industry.

then you tell the people that someone else is to blame for their troubles.

then you tell them that you’re the only one to save them from their misery and need more power.

wave the flag, tell them god told you to save them.

make the 1% more powerful, more rich and surround yourself with them.

let them eat cake.

Exactly, deanzaZZR. But Republicans view the Constitution as mere suggestions at best (when it suits them) and as an impediment most of the time.

surely the plebs realize that a tariff will simply be passed on to the consumers. A bunch of billionaires claiming they are going to reduce government wastage should cause alarm bells to ring, instead the plebs are cheering.

Sayonara american middle class, it was good while it lasted.

Blacklabel, stay on the subject.

And I agree that all country should and will impose the same, or more, customs taxes on all products coming from the US. We will see who will lose at this game.

Once the average Joe understand what trump is doing, it will be too late for the US to recover.

I can just see the scene: shooting-guns-into-the-air parties in the red states, whoops and hollers everywhere. Then the quiet voice is heard..."hey, what is a tariff anyway?"

an anarchist bent on destroying the united states.

The Stock Market doesn't think so.

https://x.com/johnyboy1853/status/1857864314784194829

first you destroy the economy with massive inflation and shortages in food and kill the construction industry.

That is exactly why people voted for Trump because of the massive food shortages

then you tell the people that someone else is to blame for their troubles.

This admin has blamed Trump for everything except the weather.

then you tell them that you’re the only one to save them from their misery and need more power.

He has both Houses and the Presidency.

wave the flag, tell them god told you to save them.

make the 1% more powerful, more rich and surround yourself with them.

You want the rich to have money, they provide jobs and pay me a great salary so that I can have a good life.

let them eat cake.

Tastes so good.

LOL. USA USA USA!

Sayonara NAFTA

Trump people: Japan has zero tariffs. Enjoy cheap shopping in Japan for all including Trump people

surely the plebs realize that a tariff will simply be passed on to the consumers.

Plebs are plebs for a reason. When prices shoot up as the costs are passed on to them, they'll wonder why. Then you tell them that it was because of the tariffs, and they won't believe you anyway, and will make up some other entity to blame. Maybe wokeness, libs, or whatever the scapegoat du jour is.

The Stock Market doesn't think so.

This is just temporary, tax are not good for business anyone knows it (expect trump as his work is bankrupt company like a casino, university, steak, etc... )

Oh well, there go cheap avocados, cheap(er) cars, melons, nuts, electrical / electronic equipment, machinery, to name just the top ranking ones.

$459 billion worth of imports from Mexico alone! Expect to pay $5 for one avocado, 25 to 30% more for a car, and I don't even wan to go down on the whole list.

But MAGA freaks and others like them trust Trump's math (besides other stuff), thinking the exporting countries will pay for that. NO, my friends, the end-consumer will have to carry the bill!!

Oh, and just wait until he starts with his mass-deportations, farm workers, construction workers and others! Donald Nero should be his name, because he is burning down the USA the way we knew it right in front of our eyes!

None of the countries-imposed tariffs will hurt.

It is the USA consumers who will have to pay more for goods, and some may do without them as goods become unaffordable by tariffs.

Will Trump hand out cash to Seniors and low-income residents to just survive?

ok1514

why to worry as long as Ukraine prevails...mango for 10bucks even no problemo pendejo...

Mexico and Canada are the US's largest trading partners with trade agreements.

The threatened tariffs aren't going to be necessary against Mexico, with their new President Sheinbaum signaling that she will comply with Trump's request.

The U.S. advantage is that it has a massive internal market and abundant natural resources. Countries that based their economies on exports, and freedom of navigation on the seas thanks to U.S. Navy protection, are going to find it more challenging as globalism retreats.

On China, the president-elect accused Beijing of not taking strong enough action to stop the flow of illicit drugs crossing the border into the U.S. from Mexico.

China is trying to flee from the responsibility of taking care of the U.S. southern border. If they don’t take care of this, let’s add another 25% for the homeless problem in US cities.

Stop buying fentanyl from China.

Mexico and Canada are the US's largest trading partners with trade agreements.

Chinese products via Mehiko to circumvent tariffs.

Oh well, there go cheap avocados, cheap(er) cars, melons, nuts, electrical / electronic equipment, machinery, to name just the top ranking ones.

Boo hoo, you have to pay a little more for an avocado. Life must be tough.

Take one for the team. You don’t want to make America great again?

Maybe he is one of the few US people that realize that the workers of alllother countries to be tariffed are intrinsically more productive than US workers... so US workers have to bear the cost of the tarriffs, I reckon some investment from the 1% of US is needed to go back down the ladder. or is that too CCP???

well if someone believes that affected countries will do nothing about it...

A creative solution should be found to punish the nations that interfere in international trade in an unfair manner.

Klin sa klinom vybija.

But MAGA freaks and others like them trust Trump's math (besides other stuff), thinking the exporting countries will pay for that. NO, my friends, the end-consumer will have to carry the bill!! 

Well, the Stock Market has a lot of faith in him and his economic team.

Oh, and just wait until he starts with his mass-deportations, farm workers, construction workers and others!

Yes!

Donald Nero should be his name, because he is burning down the USA the way we knew it right in front of our eyes!

Biden burned it down already, Trump is Carnegie trying to rebuild the nation.

I reckon some investment from the 1% of US is needed to go back down the ladder. or is that too CCP???

That’ too much like the CCP distributing wealth. You a Communist?

The Stock Market doesn't think so.

everyone learned in economics knows the stock market is not the economy.

It's the beginning of the end. The snake oil salesman returns selling phony cures, promises and dreams to the misinformed masses A nightmare is what's ahead.

Total bad trump got his degree from trump university and doesn’t know how business works.

Americans will be the ones paying for the costs associated with that tax, get ready for sky high prices.

Trump people (living in Japan with no tariffs). Who pays for the tariffs? I'm in Japan, so I don't care.

Mexico and Canada are the US's largest trading partners with trade agreements.

and?

and?

Japan has no tariffs from these countries and Trump people living in Japan are fine with that with the lower prices.

Peter,

quite obviously some people don't know that, besides a couple of other things!

"Well, the Stock Market has a lot of faith in him and his economic team." (bass)

"Biden burned it down already, Trump is **Carnegie trying to rebuild the nation."**

By instigating, insulting, dividing, and selecting the worst for his "cabinet"!

@quercetum

"You don’t want to make America great again?"

It won't happen, not with Donald being POTUS! It was great after him, great when he was absent and will be great again once he is gone!

Just some points concerning President Biden's term achievements and "other stuff":

GDP rose 12.6 percent

economic growth in the US has far outpaced that of peer nations.

Trump’s term ended with an overall loss of 2.7 million jobs nationally.

About 6.5 million jobs have been added during the Biden administration.

Wages have gone up by an average of 15%.

And the list continues if you trust in unbiased surveys and reporting!

dutch

Mexico and Canada are the US's largest trading partners with trade agreements.

and?

You do not introduce tariffs on countries with trade agreements with the US.

23 Nobel prize winning economists say trump’s tariff plans mean higher prices, higher inflation and a larger deficit. He doesn’t understand what he’s doing, clueless.

Japan has no tariffs from these countries and Trump people living in Japan are fine with that with the lower prices.

The issue at hand are tariffs the US will levy against Mexico and Canada. Not Japan.

It appears Wallace has uncovered some rule of law that forbids the United States from levying tariffs.

I think the world should be aware of this unexplained law.

23 Nobel prize winning economists say trump’s tariff plans mean higher prices, higher inflation and a larger deficit. 

Who?

what are their names?

Get out of your right wing bubble and find out for yourself.

Those who ignore the lessons of history, etc....

From Wiki:

The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods.

The tariffs under the act, excluding duty-free imports, were the second highest in United States history, exceeded by only the Tariff of 1828. The Act prompted retaliatory tariffs by many other countries. The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Great Depression.Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression.

The Stock Market doesn't think so.

The stock market is not a reflection of the real economy.

Well, the Stock Market has a lot of faith in him and his economic team.

The stock market is still going to crash at some point in the early stages of Trumps presidency. No way to stop it.

23 Nobel prize winning economists say trump’s tariff plans mean higher prices, higher inflation and a larger deficit. 

Who?

what are their names?

Inter alia, Columbia University professor Joseph Stiglitz to Massachusetts Institute of Technology’s Daron Acemoglu

https://www.business-standard.com/opinion/columns/us-elections-23-nobel-laureates-can-t-be-wrong-about-donald-trump-124110100925_1.html

If you find that article difficult, find a democrat and/or someone from a blue state, who may be able (or even willing) to help you.

it may cost the u.s. a 5% drop in gdp, maybe more the second year.

trump tariffs last time didn't repatriate companies to domestic manufacturing. it just started the inflation magnified by covid.

tariffs are a nasty business and no one ever wins, but everyone loses.

everyone learned in economics knows the stock market is not the economy.

But people also know it’s an indicator of how the economy will be, and will let you if it’s a good idea to put money in or not. So far, things look promising.

It’s only possible to feel insulted when the insult comes from someone whose opinions you respect.

Trump doesn’t respects most people in this administration

The stock market is still going to crash at some point in the early stages of Trumps presidency. No way to stop it.

And it will rebound, get your accounts ready.

23 Nobel prize winning economists say trump’s tariff plans mean higher prices, higher inflation and a larger deficit. He doesn’t understand what he’s doing, clueless

Obama got one for being the first Black President, seriously??? I don't think we need to worry about what a bunch of Europeans think about our economy or our politics.

tariffs are a nasty business and no one ever wins, but everyone loses.

I doubt it, can’t wait until they’re implemented, I’m just happy we now have a president who will take on China

dutch

It appears Wallace has uncovered some rule of law that forbids the United States from levying tariffs.

That is not what I said.

I think the world should be aware of this unexplained law.

Contract law. If the US has a trade agreement and dislikes it then it renegotiates a new trade agreement.

interesting, Wallace. Then what was the point of this post?

You do not introduce tariffs on countries with trade agreements with the US.

It appears quite contradictory.

You suggested the US may not introduce tariffs, but now it can.

But people also know it’s an indicator of how the economy will be, and will let you if it’s a good idea to put money in or not. So far, things look promising

What are you talking about? The stock market has been up only for decades, whilst the standard of living across the US has gotten worse. The stock market is not the real economy.

I would imagine this pledge is not as all encompassing as the headline makes it sound. Trump is a performative politician who is 99% performance and 1% actual action.

NAFTA rules will prevent it on some or many goods. Presumably what wallace means. No US corporation would have ever relocated to Mexico without cast iron guarantees that it wouldn't hurt them. These companies will be funding Trump, a hand that feeds him. He doesn't just get money from Zionists and idiot tech bros.

Other goods will be exempt because loopholes mean they are "processed in the USA" through simple repackaging and the like.

I doubt the President has the power to wipe out people's businesses with a stroke of the pen and with Congress and the Senate standing by. I can imagine the President removing Medicaid or the like this way, but not their right for their business or more likely, the business they hold stock in, to suffer. Rule by dictat is not how the US works.

The construction industry aside, I first thought Peter Neil’s comment was referring to Japan

Canada is certainly a source of both problems and the Trudeau government refuses to take action to solve either problem. Just a couple of days ago the government mouthpiece, CBC, had a story about how it is bad to conduct drug busts. Canadian banks also offer an easy way to launder cash, again with no action from the Canadian government to address the problem.

The ball is in Canada's court, clean up your house or lose trade access to the US market.

It should be easy for the Trudeau government to finally seriously address the problems, but the Trudeau government has not governed to benefit Canadians for 10 years. It is sad that they need this kind of pressure from the US to do what they should do without being forced into it.

New Trump taxes are to be paid by American citizens and not Mexicans or Canadians.

New Trump taxes are to be paid by American citizens and not Mexicans or Canadians.

bookmark this one, people...

Everyone gave the same doom and gloom prognosis during the last Trump tariffs around 6 or 7 years ago. After the tariffs were put in place, however, the US economy boomed, and consumers did NOT pay higher prices -- until the pandemic and Ukraine War, which were unrelated. 

Investors yesterday were sure happy: Dow closed at another record high.

Let’s see what happens.

dutch

New Trump taxes are to be paid by American citizens and not Mexicans or Canadians.

bookmark this one, people...

Who do you think will be paying? Not you since you are here in Japan.