| American workers enjoying the tarrif show. 22:26 - Apr 2 with 3435 views | Eireannach_gorm |
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| American workers enjoying the tarrif show. on 11:02 - Apr 3 with 669 views | Eireannach_gorm |
This is such a stupid exercise which perfectly matches Trumps personality.
This from the SKY website:
Island home only to penguins and seals targeted by Trump with tariffs
Heard Island and McDonald Islands are among the remotest places on earth.They're accessible only to those willing to take a two-week boat voyage from Perth, Australia.
Not only that, but they are completely uninhabited - except for seals and penguins - and the last people to reach them are believed to have done so some 10 years ago.
The islands are among several "external territories" of Australia which Trump listed separately in his tariff list to the mainland - and are subject to a 10% tariff imposed on its goods.
Despite being completely uninhabited, export data from the World Bank shows the US imported $1.4m of mainly "machinery and electrical" products from Heard Island and McDonald Islands in 2022.
Needless to say, it's completely unclear what those goods were, seeing as there isn't so much as a house on the island, let alone a factory.
The Australian prime minister, Anthony Albanese, said in response: "Nowhere on earth is safe." | | | |
| American workers enjoying the tarrif show. on 11:12 - Apr 3 with 643 views | noggin |
| American workers enjoying the tarrif show. on 00:23 - Apr 3 by Churchman |
Am I the only one who thought the ‘construction workers’ were going to break out into Village People’s YMCA?
I guess they were missing the Native American Indian, Cowboy, military dude and a couple of others.
Would have been great though. The little dance, hand gestures - the opportunity was right there and they blew it. [Post edited 3 Apr 0:38]
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Trump probably deported the Native American fellow, for looking like a foreigner. |  |
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| American workers enjoying the tarrif show. on 11:31 - Apr 3 with 627 views | grow_our_own |
Not defending Trump tariffs in the slightest, but the unfairness he cites does have a basis. Laws of supply & demand dictate that trade-deficits should self-correct over time, but haven't been. WTO have allowed countries like China to manipulate their currency, to artificially make their exports cheap. Generally, as you export more, your currency appreciates as foreigners buy your currency to pay for your exports. But China has spent their trade surplus on buying USD with their yuan, to artificially keep the yuan low.
There are rules against this, but they haven't been enforced. If Trump really wanted to solve trade unfairness, he'd be seeking currency manipulation enforcement either by the WTO, or by starting a new authority with teeth.
Trade protectionism never works. Shielding home industries from competition lowers your productivity, and creates international antagonism. Trade war was a factor in starting two world wars. [Post edited 3 Apr 11:33]
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| American workers enjoying the tarrif show. on 13:06 - Apr 3 with 581 views | redrickstuhaart |
| American workers enjoying the tarrif show. on 11:31 - Apr 3 by grow_our_own |
Not defending Trump tariffs in the slightest, but the unfairness he cites does have a basis. Laws of supply & demand dictate that trade-deficits should self-correct over time, but haven't been. WTO have allowed countries like China to manipulate their currency, to artificially make their exports cheap. Generally, as you export more, your currency appreciates as foreigners buy your currency to pay for your exports. But China has spent their trade surplus on buying USD with their yuan, to artificially keep the yuan low.
There are rules against this, but they haven't been enforced. If Trump really wanted to solve trade unfairness, he'd be seeking currency manipulation enforcement either by the WTO, or by starting a new authority with teeth.
Trade protectionism never works. Shielding home industries from competition lowers your productivity, and creates international antagonism. Trade war was a factor in starting two world wars. [Post edited 3 Apr 11:33]
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Nonsense. No reason deficits should even out over time especially where one parrty is much bigger and richer than the others, and therefore has vastly more capacity to import. | | | |
| American workers enjoying the tarrif show. on 13:25 - Apr 3 with 535 views | Swansea_Blue |
| American workers enjoying the tarrif show. on 23:41 - Apr 2 by Churchman |
The last thing we want is a trade deal with that madman and a country of betrayers. Any deal will screw us to their advantage - just like most deals in that colony and UKs history.
Walk away Starmer. After being a good boy and grovelling obsequiously he slapped you round the head. There is nothing in it for you beyond indigestion and a need for a breath mint.
Take their gas and oil and anything critical while moving quietly to other stable suppliers, promote free trade across the free world bar America, sort out Eu and Canada relationships, continue defence arrangements with the US but move quietly away from them on that and leave them to bread lines, botched executions and oversize hats.
10% tariffs when the U.K. already has pretty much balanced trade with the US is a ffing disgrace. |
Agreed, although I get on really well with Brooks running shoes. So if we can just have a deal for them, that would be helpful. I’m struggling to think of anything else I’d want that’s made in the US. They make some good stuff in general, but we have equally good alternatives we can source from closer to home. |  |
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| American workers enjoying the tarrif show. on 13:35 - Apr 3 with 519 views | EuanTown |
| American workers enjoying the tarrif show. on 22:46 - Apr 2 by TractorWood |
10% is decent imo. Ftse futures is down 40 points, that's broadly fine.
If we get a trade deal it's even better. |
I thought that to get to that 10%we had made concessions to American companies on tax on profits etc in the UK. Anyone clarify this for me please. |  | | |
| American workers enjoying the tarrif show. on 13:49 - Apr 3 with 494 views | grow_our_own |
| American workers enjoying the tarrif show. on 13:06 - Apr 3 by redrickstuhaart |
Nonsense. No reason deficits should even out over time especially where one parrty is much bigger and richer than the others, and therefore has vastly more capacity to import. |
"one parrty is much bigger and richer than the others, and therefore has vastly more capacity to" export too. Currency manipulation matters. | | | |
| American workers enjoying the tarrif show. on 14:17 - Apr 3 with 467 views | redrickstuhaart |
| American workers enjoying the tarrif show. on 13:49 - Apr 3 by grow_our_own |
"one parrty is much bigger and richer than the others, and therefore has vastly more capacity to" export too. Currency manipulation matters. |
You cant export more to a smaller country which has consequently smaller demand.
If everyone in the uk spends 1000 on us goods and everyone in the us does vice versa, there would be a natural trade 'deficit' of 300,000,000,000.... | | | |
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| American workers enjoying the tarrif show. on 14:47 - Apr 3 with 446 views | grow_our_own |
| American workers enjoying the tarrif show. on 14:17 - Apr 3 by redrickstuhaart |
You cant export more to a smaller country which has consequently smaller demand.
If everyone in the uk spends 1000 on us goods and everyone in the us does vice versa, there would be a natural trade 'deficit' of 300,000,000,000.... |
I don't really understand what you're saying. Imports are proportionate to country size, but exports are not? If that were true, big countries would always operate trade deficits. They don't.
Trade deficits should only exist long-term, when an exporting country has sufficiently better products that counteracts currency value changes. Eg German cars are better than US cars hence the deficit. US still gains from this relationship by having better cars. Problem atm, is that some countries are being allowed to keep their currencies and hence exports artificially cheap. WTO needs to fix this or a new org started that will. | | | |
| American workers enjoying the tarrif show. on 15:24 - Apr 3 with 422 views | TractorWood |
| American workers enjoying the tarrif show. on 13:35 - Apr 3 by EuanTown |
I thought that to get to that 10%we had made concessions to American companies on tax on profits etc in the UK. Anyone clarify this for me please. |
I think Starmer has reduced the digital services tax by c.£800m for US businesses. |  |
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| American workers enjoying the tarrif show. on 17:27 - Apr 3 with 362 views | Kropotkin123 |
Thanks for this. I shared it on my work chat and people have had a lot of fun with it. It ended with my payroll team regretting that they couldn't announce tariffs on Tuesday for the deficit employee have run up compared to the goods sold to us. |  |
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| American workers enjoying the tarrif show. on 17:39 - Apr 3 with 346 views | Churchman |
Interesting comment from NBC
‘When Trump displayed a chart Wednesday showing how much other countries are “charging” the United States, he was really describing the extent of the country’s trade deficit with each of them.
“A bilateral trade deficit is not a strong indicator of a trade barrier,” said Felix Tintelnot, an economist at Duke University. “You spend your money at Trader Joe’s, but they don’t buy anything from you. Your employer pays your salary, but you typically don’t purchase anything from them. The existence of bilateral deficits is perfectly normal in an integrated economy.”
Zeroing out these trade imbalances would require the labor-intensive, low-wage work now being done in developing nations like Cambodia or Vietnam to be performed in the United States instead — a reversal that would likely make the average American worker poorer and crimp their spending power.
This is one reason so many analysts responded so negatively to the latest tariff rollout, with reactions such as “worse than the worst-case scenario,” “a perfect recipe for stagflation” and warnings that “many countries will likely end up in a recession.”
“The tariffs will make the U.S. poorer and invited retaliation from our allies and trading partners,” said Erica York, vice president of federal tax policy at the Tax Foundation. “This is a campaign promise that should have gone unfulfilled.”
So basically, the orange sht gibbon doesn’t know what he’s doing. Not one iota. Now there’s a surprise. |  | | |
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