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re: Let's suppose Trump is right. All countries come to the table...
Posted on 4/5/25 at 2:44 pm to SlowFlowPro
Posted on 4/5/25 at 2:44 pm to SlowFlowPro
quote:
Thomas Sowell is still alive and still agrees with Friedman, also
He supports market crippling regulation and thinks it has no impact on the market erosion of the targets of mercantilism?
Please link, I'd love to read it.
2
Posted on 4/5/25 at 2:45 pm to Turbeauxdog
quote:
He supports market crippling regulation
Like widespread tarriffs based on some interns error?
Posted on 4/5/25 at 2:45 pm to SlowFlowPro
quote:
The bait and switch on what they were doing (reciprocal tariffs turning into tariffs based on trade deficits) has made it impossible for many countries to fix things. Poor countries cannot afford to buy our expensive exports to make the trade balance neutral. It's chaos for the coun[The bait and switch on what they were doing (reciprocal tariffs turning into tariffs based on trade deficits) has made it impossible for many countries to fix things. Poor countries cannot afford to buy our expensive exports to make the trade balance neutral. It's chaos for the countries involved, too
100% agree. Switzerland was lost wondering how we calculated it. They also said they arent gonna do any reciprocal tariffs because that would just punish their citizens that wanna buy American products
This post was edited on 4/5/25 at 2:46 pm
Posted on 4/5/25 at 2:47 pm to troyt37
quote:
opens markets previously closed to US manufacturers due to protectionist tariffs.
This isn't being facetious...
What do we sell that 90% of the countries can afford to buy?
These people make $2500-$15000 a year.
The more I think about this the less I like it.
Just Tariff all imports at 10% and target abusers like China.
Posted on 4/5/25 at 2:47 pm to Turbeauxdog
quote:
He supports market crippling regulation and thinks it has no impact on the market erosion of the targets of mercantilism?
Sowell is alive to experience the, "barriers and switching costs that would make the market completely incapable of responding to market factors," as you originally stated, and still agrees with Friedman's point.
So he's wrong, too, or are you arguing he doesn't understand "barriers and switching costs that would make the market completely incapable of responding to market factors." ?
Posted on 4/5/25 at 2:48 pm to DiamondDog
It won’t and it’s a stupid strategy! The tariffs haven’t offset the cost of labor in the us for it to work!
Posted on 4/5/25 at 2:50 pm to Cheese Grits
quote:
Cost of labor + Cost of land = Cost to produce
Plus cost to transport these products to their destinations. Items made in the US will be cheaper to transport to US locations than items made in China.
Posted on 4/5/25 at 2:55 pm to DiamondDog
quote:
opens markets previously closed to US manufacturers due to protectionist tariffs.
This isn't being facetious...
What do we sell that 90% of the countries can afford to buy?
These people make $2500-$15000 a year.
Business/industry is the target market in low wage countries.
Also, as in any society, there are people that make far above the average.
China's average wage is far below ours, yet Apple sells a lot of iPhones there.
Posted on 4/5/25 at 2:56 pm to Corinthians420
quote:
100% agree. Switzerland was lost wondering how we calculated it. They also said they arent gonna do any reciprocal tariffs because that would just punish their citizens that wanna buy American products
Damn, actual intelligent leadership
Posted on 4/5/25 at 3:02 pm to DiamondDog
quote:
How exactly is that pushing manufacturing back stateside? Labor is still cheaper in Vietnam.
We eliminate our tariffs on textiles.
Vietname eliminates their tariffs on machinery (or other things that the U.S. exports.
I do not think that the idea is competing one-on-one, as in Trump is thinking we need textile mills in the US to compete with Vietnamese textile mills. Rather, we open our market to the same extent you open your market.
If you look at tariff schedules, Vietname has a few favored nations in their tariff schedules. The U.S. is not one. Yet China, Korea, the EU, and the UK are. Those countries are not exporting tee-shirts to Vietnam. They are exporting ag products and higher-end manufactured components/machinery, etc. U.S. companies will benefit from the eliminationof tariffs on those goods.
Posted on 4/5/25 at 3:04 pm to DiamondDog
Bessent did an hour with Tucker the other day.
The general idea is:
1. Short term, 0-2 years, raise $350-$600 billion annually in tariffs as countries and companies figure shite out
2. Mid term, 1-5 years, companies move factories and production to US
3. Long term, countries eventually lower their tariffs on us and we get better trade terms increasing our exports
In this era of globohomo the country isn't as important as the company. There will be US and EU and wherever based global companies currently producing shite with slave or near slave labor in China, SEA, S America, etc who will move production of high value products to the US.
Lower taxes, cutting regulations, lower shipping costs, more intelligent workforce, etc will be the carrots and tariffs will be the stick.
I know most people don't have the patience for a 1-3 hour interview these days but the Bessent interview with Tucker and the Bessent and Lutnick interviews from a few weeks ago on All In podcast really get into what they are trying to accomplish.
If someone is truly anxious (and not just trolling) I'd recommend listening to all 3 interviews. You are not going to get any honest or fair explanations from corporate media whose entire goal for 10 years is to kill Donald Trump and rape the American people.
The general idea is:
1. Short term, 0-2 years, raise $350-$600 billion annually in tariffs as countries and companies figure shite out
2. Mid term, 1-5 years, companies move factories and production to US
3. Long term, countries eventually lower their tariffs on us and we get better trade terms increasing our exports
In this era of globohomo the country isn't as important as the company. There will be US and EU and wherever based global companies currently producing shite with slave or near slave labor in China, SEA, S America, etc who will move production of high value products to the US.
Lower taxes, cutting regulations, lower shipping costs, more intelligent workforce, etc will be the carrots and tariffs will be the stick.
I know most people don't have the patience for a 1-3 hour interview these days but the Bessent interview with Tucker and the Bessent and Lutnick interviews from a few weeks ago on All In podcast really get into what they are trying to accomplish.
If someone is truly anxious (and not just trolling) I'd recommend listening to all 3 interviews. You are not going to get any honest or fair explanations from corporate media whose entire goal for 10 years is to kill Donald Trump and rape the American people.
Posted on 4/5/25 at 3:10 pm to DiamondDog
Fun fact, everyone knows tariffs will never go to zero.
This will bring in some revenue and give a long deserved reality check to our "ally's".
This will bring in some revenue and give a long deserved reality check to our "ally's".
Posted on 4/5/25 at 3:14 pm to cajuntiger1010
quote:
Because besides these tariffs, other countries have barriers which make it impossible to sell America. The negotiations have to upend the barriers, VATs, or whatever you want to call it to make it friendly to buy American imports.
I heard one of Trump's negotiator's discussing this. A myriad of barriers. He said this is an example, not actual just an example. Country A wants some brother in law in the tractor business to make money so they block John Deere. Now they dont openly do it. They study John Deere tractors and find that it can come to a full stop in 40 feet. So they pass an import law that prevents tractors that cant stop in 30 feet. Now the brother in law's tractor cant stop within 200 feet but thats beside the point, we just have to block John Deere. Thats not a tariff so why are you punishing them?
Posted on 4/5/25 at 3:16 pm to Powerman
quote:
We can't dictate what other countries choose to subsidize any more than they can control what we choose to subsidize
Don't be stupid
But if they chose to do so, we can dictate what price they sell it......its called tariffs mi amigo, welcome to the party.
Posted on 4/5/25 at 3:20 pm to trinidadtiger
It's the same with those that argue the Canadian dairy tariffs are meaningless because we never hit the quota that triggers them.
Canada doesn't allow enough US dairy in for them to come close to hitting the quotas by throwing up other barriers like limiting what companies can even purchase imported dairy.
Canada doesn't allow enough US dairy in for them to come close to hitting the quotas by throwing up other barriers like limiting what companies can even purchase imported dairy.
Posted on 4/5/25 at 3:25 pm to DiamondDog
quote:
I think pursuing both at once makes you fail at both because neither will accomplish any clear outcome.
You are offering them options. As others have posted, low value high labor goods will probably just take lower margins to compensate their importers for the tariffs to be paid.
High end goods manufacturing will come back to the states. Its less labor intensive, particularly with AI, and you can put out several widgets for the amount of labor input for expensive widgets.
The issue will be, these factories take time to build. In the meantime you have:
Keep oil prices low
Ensure farm goods/export balance so groceries stay inflation free
Make some money off tariffs
Get Doge checklist ready to enact in the fall budget, while making cuts along the way and streamlining all the red tape nonsense between now and then
Send illegals home opening up jobs for Americans
Unleash the entrepreneurial spirit to get small businesses forming and growing
It is going as planned to date, just keep the eye on the prize
Posted on 4/5/25 at 3:28 pm to SlowFlowPro
quote:
quote:
This is almost verbatim what Milton Friedman answered 50 years in his speech at Kansas State. The question was how we stop Nippon Steel from flooding us with their less expensive product subsidized by the Japanese government to undercut American steel. His answer was "if the Japanese government wants to provide us with foreign aid, why should we stop them?"
Correct.
Uh, because you end up with no manufacturing base in critical industries and find yourself in the situation we are now???
Posted on 4/5/25 at 3:30 pm to SlowFlowPro
quote:
What is Vietnam, a poor country, buying from America to make this make sense?
china used to be a poor country as well, how did that work out for us?
Posted on 4/5/25 at 3:30 pm to trinidadtiger
quote:
Uh, because you end up with no manufacturing base in critical industries
Pivot to "national security"
quote:
and find yourself in the situation we are now???
The world's dominant economy and best manufacturing nation? The horror.
Posted on 4/5/25 at 3:31 pm to trinidadtiger
quote:
china used to be a poor country as well, how did that work out for us?
Amazing.
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