Trump obviously.
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Crazy radical left, obviously. And Soros
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this absolute farkin gold.
deserves more than a like.
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Which the Feds canāt use for protection against imports or revenue raising to offset income tax concessions.
Also, retail sales taxes donāt discriminate between imported and domestic product ( National treatment principle of internal taxes and regulation of like products).
Reportedly, some Canadian Province has removed Tesla from eligibility for rebates on EVs.
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The main thing it will offset is newly-created subsidies to fix all of the problems that are created, like last time aroundā¦ if, of course, the intent is to improve the bottom line.
Hint: thatās not the intent.
Iām not anti-tariffs by default as Iām not 100% pro free trade or economic globalisation - or at least I would like the negative social and environmental impacts to be addressed. Of course, that motivation is not on the agenda.
There are some good arguments in this thread for explaining why trump has imposed tariffs -
- to incentivise US-based manufacturing
- politically motivated to appease the swing states
- Trump loves a weapon to bully with and this is his economic gun.
The negative impacts on global GDP and the overall reduction in global ECONOMIC wealth are real. I think we need to stop repeating the obvious ie Trumpās an idiot, as there must be other smarter folk designing and implementing US economic policy. What matters is why are they implementing a policy that will reduce economic wealth and what will it achieve for Trump, his backers and the US?
Trump is mainly about wealth, but heās also about power and ego.
I think he wants to rule the world and be the greatest US president ever. He canāt, but he can disrupt the world, and heāll recast disruption as great change. At a personal level I think heās that scorpion that stings the turtle when crossing the river so they both drown.
Fundamentally, there is nothing wrong with growing the USAās self sufficiency by growing local industry. I just donāt believe successive US administrations will stay that course and that consumers will wear the pain, and I donāt believe this is the primary objective of tariffs for reasons explained on here by others.
I donāt know why a republican govt would follow this economic path, but maybe those of you who understand Project 2025 and the radical agenda have a better idea?
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The dynamics at play here are wild.
Some argue Trump is playing 4D chess to tank the economy to reduce yields to ensure they can rollover their maturing debt at a lower rate.
But tanking the economy also mean higher unemployment, lower tax receipts and likely a higher deficit. If they cut spending too much it exacerbates the recession.
If they do manage to get lower yields and lower the cash, that would likely lead to a lower USD and that would likely revive inflation, and would then mean they need to raise rates again.
All this is assuming minimal impacts from trade wars, geopolitical tensions and the strength of the global economy.
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Some of it is a reaction to thinking inside the (Washington) beltway , with government and the Administration captured by all those clever people in think tanks who havenāt been exposed to real life experience. No one else gets a look in.
. It finds reflection here with Morrisonās Canberra Bubble accusations, Dutton anti bureaucracy (Drain the Swamp) , anti Woke etc.
As to Trump, itās a reaction to him not belonging to the establishment elite in Washington and NYC, a vulgar carpet bagger against old money ( The Great Gatsby)
Itās a Counter Reformation in US economic and trade policy, also social policy and structure.
ADD
Reaganomics is on its deathbed and the Chicago Boy economists are on the dole.
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https://www.visualcapitalist.com/ranked-the-top-20-countries-holding-the-most-u-s-debt/
LOL, Luxembourgh and Cayman Islands 4th and 5thā¦
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Nationwide, Tesla have been reporting some very suspicious sales figures.
BC said theyād end rebates on Tesla, but other EVs were still eligible
And another scam: the āMelaniaā cryptocurrency. $13,000 invested 6 weeks ago is now worth $670. The First Family that scams togetherā¦ umm, well they havenāt actually stayed together, so ā¦ grifts together.
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Does he also believe in the tooth fairy and Essendon winning a premiership being possible?
Can we put a tariff on Canada for Andrew McGrath?
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It would miss the target
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I heard the same arguments here over many years. in USA it is much simpler, you need to get people to actually vote.
But it is a consumption tax(a tariff)
Itās just levied along the supply chain
Incorrect. A consumption tax or GST by definition is a tax on the end user ie a GST ie when the good is consumed/used by the end user. A consumption tax is paid on the last transaction eg retail price. A tariff is not a consumption tax.
A tariff is incurred when goods are imported into a country. A tariff is levied on the landed cost of goods when the goods enter the country. Once a tariff is paid and the relevant goods leave customs, the goods might be on-sold a number of times before they are finally consumed or used by the end user.
