quote:

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Originally posted by Brian Murphy

I think he will target American companies making goods overseas to compel them to onshore production.

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What makes a company an American company in a globalised world? The majority of the shares are held by US citizens (there is no way to know)? It has its place of business in the US (every foreign company of a certain size has a local distributing subsidy formed under national law)?

And how would it help the US economy if only American companies were targetted through the tariffs (tariffs are an impediment on the free market making these American companies less competitive on the domestic market)?

A tradewar can backfire in so many ways, I'm glad I'll be sitting on the fence and watching it unfold. Perhaps it works out well but I wouldn't want to try it myself without seeing proof of it working.

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Originally posted by NotABanjoYoda

Too simplistic. Punishing China with a 60% tariff does not mean that goods will forever go up by 60% nor that the US will produce the goods.

Taiwan, Vietnam, All of Africa, Guam, Phillipines, SKorea, Japan, Europe etc can all produce the same products at a slightly higher rate. 

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If the US won't produce the goods, how is the US economy supposed to benefit from the tariffs?

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Originally posted by phb

quote:

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Originally posted by Brian Murphy

I think he will target American companies making goods overseas to compel them to onshore production.

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What makes a company an American company in a globalised world? The majority of the shares are held by US citizens (there is no way to know)? It has its place of business in the US (every foreign company of a certain size has a local distributing subsidy formed under national law)?

And how would it help the US economy if only American companies were targetted through the tariffs (tariffs are an impediment on the free market making these American companies less competitive on the domestic market)?

A tradewar can backfire in so many ways, I'm glad I'll be sitting on the fence and watching it unfold. Perhaps it works out well but I wouldn't want to try it myself without seeing proof of it working.

 

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I was referring to situations where companies operating here (and based here) moved production (Carrier is one that I recall).   My point is that this is not a huge issue in the banjo world.  I'm not going to argue trade war issues because it's really beyond the scope of a banjo site and I don't want to end up in Sherry Jail.

quote:

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Originally posted by phb

quote:

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Originally posted by NotABanjoYoda

Too simplistic. Punishing China with a 60% tariff does not mean that goods will forever go up by 60% nor that the US will produce the goods.

Taiwan, Vietnam, All of Africa, Guam, Phillipines, SKorea, Japan, Europe etc can all produce the same products at a slightly higher rate. 

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If the US won't produce the goods, how is the US economy supposed to benefit from the tariffs?

 

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Simple, as the rest of my post stated, the US will grab market share in the areas it is best poised to, such as chip making, agriculture, and electric motors.

ie Many countries including the US will be better positioned to mass produce products.  The US is great at automation, and the lower corp taxes combined with tariffs will spawn many US investors to absorb production.  There is already a giant furniture production plant being planned down the road to supply wayfair.com  They held off building until they knew viability.  450 jobs.

and there has always been us tariffs...ALWAYS.  If you think they are just happening, you havent been paying attention.  China has been babied with tariffs, that times over.

It was "tarriffs", as in "taxes".

I'm grinning at Bill R shedding his mod chains and testing the limits!

The USA govt. was financed by tariffs up until 1913 when the income tax was made a fixture in all of our lives., which is only to say that tariff financing of the govt is not new and income taxes are not the only means of revenue. The initial IRS rates ran from 1% to 7% and that was an easy sell. Thirty+ years later the top rate was 94%. No further comments!

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Originally posted by banjo bill-e

tariff financing of the govt is not new

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Actually your whole country started off over a dispute about tariffs. The irony of which is that the government that was collecting those tariffs wanted your ancestors to pay for the troops stationed in your country that were sent there to protect you. 

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Originally posted by phb

quote:

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Originally posted by banjo bill-e

tariff financing of the govt is not new

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Actually your whole country started off over a dispute about tariffs. The irony of which is that the government that was collecting those tariffs wanted your ancestors to pay for the troops stationed in your country that were sent there to protect you. 

 

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Protect is a little strong. Babysit is a closer description. That government messed up when they forced private citizens to quarter those troops. 

Well all of you know more about this than me, I did watch import prices rise during his last round of tariffs and domestic prices went up accordingly. We will see what happens this time, it may not matter much at all in the realm of possibilities.

The hitch here is that nobody in the US other than us cares enough about the price of banjos, and there aren't enough of us to raise a stink that anyone who can do anything about it can smell. So it will be what it is, not a thing we can do about it.

I feel confident that tarrifs will subside quickly. I could be wrong.

Trump is using the threat of tarrifs to get Mexico and Canada to start cooperating with the USA in stopping the shocking and dangerous border surges we've seen under the Biden administration.

It's the same thing he did in his first administration and it sure worked like a champ when Mexico and Canada began to regulate their borders and illegal entries were significantly reduced. And no inflation resulted.

Trump's proposed tarrif on China is a simple mandate: stop killing our children and families with fentanyl. This is a serious life-and-death issue. I'm personally willing to make this sacrifice if needed. I'm guessing China will come to some agreement to avoid the tarrif.

Your banjo prices are safe in my estimation.

Buy American and put the squeeze on this evil!

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Originally posted by Tatersoup

I feel confident that tarifs will subside quickly. I could be wrong.

Trump is using the threat of tarifs to get Mexico and Canada to start cooperating with the USA in stopping the shocking and dangerous border surges we've seen under the Biden administration.

It's the same thing he did in his first administration and it sure worked like a champ when Mexico and Canada began to regulate their borders and illegal entries were significantly reduced. And no inflation resulted.

Trump's proposed tarrif on China is a simple mandate: stop killing our children and families with fentanyl. This is a serious life-and-death issue. I'm personally willing to make this sacrifice if needed. I'm guessing China will come to some agreement to avoid the tarrif.

Your banjo prices are safe in my estimation.

Buy American and put the squeeze on this evil!

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Trump's tariffs in the last round of the Trump Show stemmed from his belief the U.S. was getting a raw deal in the NAFTA agreement.  He imposed tariffs on Canadian lumber, which has long been a contentious issue between Canada and the U.S. and then later introduced tariffs against Canadian steel and aluminum. Canada again retaliated in kind. Eventually NAFTA was updated into the CUSMA and the tariffs went away. Nothing involved immigrants crossing from the Canada to the U.S. 

CUSMA benefited both Canada and the U.S.  New tariffs will be against that agreement. 
btw, once the word "evil" is thrown around to categorize people the next step is elimination of said people.  I'd advise to re-consider your extremism. 

Wagonwheeler didn’t say that. He quoted another member

Okay, it has turned political. Locked.