Probably not far from accurate. Any of this could change with the wind or a single tweet. I’m pretty sure we could have had some high school econ kids implement a better plan. Whatever we eventually end up with, assuming we ever really know a firm plan, it really just boils down to a consumption tax for us and the penguins. I’m not even sure anybody is going to stick with any of these so called deals. When you start out with the way this has and with the constant changes, you give up a lot of credibility. We just don’t know yet what level of a tax we or anyone else will end up with. It really is almost difficult to even take the subject seriously at this point. It has been a master class on policy implementation though. Wouldn’t it be interesting to have some of the other leaders drink some truth serum and ask them what they really think?
Its permeant we have external revenue service now. Trump will keep tariffs at 10% the lowest long term past 10 years with new president so on. We had trade deficits from 300 billion a year to 200 billion a year with Mexico. Canada 45 billion a year. That is all changing. We will have trade surpluses going into next year.
Walmart (WMT) says customers should expect to see price hikes begin to show up in stores by the end of May and most certainly by June. Of course, this is likely no surprise to most and there will be other companies that will follow as these effects work their way into the the imports coming in. Walmart warns of higher prices due to tariffs, holds off on second-quarter guidance May 15 (Reuters) - Walmart (WMT.N), opens new tab will have to start raising prices later this month due to the high cost of tariffs, executives said on Thursday, even as the retailing giant's U.S. comparable sales surpassed expectations in the first quarter. Shares of the Bentonville, Arkansas-based company edged up 0.5% in pre-market trading. Its stock is up more than 60% over the past year. U.S. shoppers will start to see prices rise at the end of May and certainly in June, Walmart's Chief Financial Officer John David Rainey said in a CNBC interview. "We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins," CEO Doug McMillon said in a statement. Analysts said Walmart can lean on its suppliers and squeeze out efficiencies to shield customers from tariffs, but they can only do that for so long. "There will likely be some demand destruction from tariffs, a complete wreck is unlikely," said Brian Jacobsen, chief economist at Annex Wealth Management.
The administration gives an update on the "plan" going forward. “We have, at the same time, 150 countries that want to make a deal, but you’re not able to see that many countries,” Trump said during a business roundtable in Abu Dhabi Friday. “So at a certain point, over the next two to three weeks, I think Scott and Howard will be sending letters out, essentially telling people – we’ll be very fair – but we’ll be telling people what they’ll be paying to do business in the United States.” “I guess you could say they could appeal it, but for the most part I think we’re going to be very fair, but it’s not possible to meet the number of people that want to see us,” Trump said. I think in the beginning most probably knew the original goal of drafting actual trade deals with that many countries would take a very long time and be nearly impossible to do in the suggested "90 deals in 90 days." So, countries should be checking their mailbox for these letters at some point I suppose. I think this is why we have seen few announcements about any "deals" announced. The few that have met were likely told about what rate they could expect. In essence, rates may be set in the not too distant future for everybody the way it appears at the moment. Of course, anything could change as we have seen, but the above is straight from the president yesterday.
You know Tarrifs long term because it's 0 tarriff to build in USA the USA consumes everything in world the most everyone building in USA now. Everyone buying USA now. Prices tripple other crap USA cheap now.
Some people are talking about US returning to a manufacturing economy. That is the dumbest thing I've ever heard. The best that can be hoped for is to restore a few things that are of strategic importance and will now cost significantly more than they previously did.
Agreed. Initially, I thought the administration was using this type of "reasoning" and narrative as a leveraged statement. Although, I believe it really only demonstrates a weak position. The more I see, the more I think they really believe it is possible despite the most average person knowing it is just not possible in reality. An example is the little tantrum being thrown with AAPL. AAPL did actually "pledge" some more investment here. However, that was not good enough. They don't want them in India or elsewhere....the administration wants it all here and is even offering punitive tariffs to the company if they don't comply. Do they even realize the time frame and what they are asking? In another example, there was additional fallout with WMT. WMT own CFO admitted that price hikes were likely as a result of the tariff structure. What happened? Another social media tantrum telling the company to "eat the tariffs." So, the administration, without realizing it, is basically admitting that there will be cost increases. If there were not, as they have all suggested all along, then why would anybody have to eat anything? It is either the consumer or the company, but it is certainly not nobody. I keep wondering if they really do not understand tariffs and how they work. Then I realize, the proof is right their in front of us by their own statements and implementation. And no, I don't care what party is doing them, it is more about the policy and implementation that I am complaining about. At this point, it is just a wait and see what and how all of this ends up. It will work it's way into the economy at some point. We also continue to have this total discoordinated effort without regard to a well thought out actual plan. The little tantrums on top of that, just reek and display a total absence of professionalism and skill.
Of course, most have probably seen the headline recently regarding the 50% tariff on the EU. https://www.cnbc.com/2025/05/23/tru...tariff-on-european-union-starting-june-1.html Oddly enough, it would appear that China is going to end up with a better deal than some of our allies and a lower rate. And yes, who really knows at this point what is going to stick or stay. We are all over the place with this depending on the day or which way the wind blows. I just find it interesting with all the tough China talk early on and then this with the EU came about. Makes sense. We really showed them a thing or two. At times it is almost comical to observe, but then I realize they are serious in their own strange way. Interesting times for sure.
Might be...Might be. I think sometimes if I were a leader of another country....Would I even pick the phone up at this point?? I would surely re-examine if and what other partners were available to fill any need we might have. Can I make a deal that the US is even going to stick to? Or are they going to fly off the handle over some comment or news article and change my agreement? What assurances am I going to have that this is even a reasonable plan? If I could avoid the headache....I certainly would. In most cases that might not be possible, but it would definitely have me looking for other ways to navigate it.
Sometimes it is the simple things that get lost in the trade/tariff policy stuff and is overlooked. We can jump in the car drive into town or down the street and go into a store with a wide selection of products and goods at competitive prices. We can shop around. We have some leverage as a consumer. How convenient it is and easy. We can do this in most cases with affordability and still return home with more of our own money. Even before the current tariff thing....we have been a wildly successful and wealthy nation with massive profitable companies that do business globally. Somehow, all of a sudden we somehow think we are the ones getting screwed. In a lot of cases we are paying someone to do something we no longer want to do or have ever wanted to do. In exchange, we get the goods. In many instances, we are getting them cheaper. We are sending them paper in exchange for a useful, tangible item.....as has been told by Buffett's own description long ago. This is not to sound snobbish or condescending, but we have it made. We are getting the best of both worlds and it's not even close to being short changed on the deal. We still do make many things here. We have an abundance of natural resources as well. We are still productive. The point is, we have it really, really good here in the US. Some of this is a result of trade. The ability and wealth to have the prowess to decide what we want to do and what we will pay to have done in exchange. That sounds snarky to an extent, but it is not meant to be. It is actually a shared benefit amongst the countries.
You make a good point. It wasn't that long ago that furniture making was exported to China. It used to be made in the south eastern US in traditionally poor states. Even high end furniture comes from China, now. It should be possible to reshore some of that, as well as some high end tech manufacturing. A small tariff would shift the balance, however, it will take a tariff because those jobs went offshore for a reason.
Apparently now the previously announced 50% tariff on the EU a few days ago has now been called off and given an extension until July 9. U.S. President Donald Trump agreed to delay imposing a 50% tariff on European goods until July 9. “I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump wrote on Truth Social. Ursula Von der Leyen, president of the European Commission, said that she needed until July 9 to “reach a good deal.”
