Vietnam offers 0% tariff/Cambodia Drops to 5%

[scourge165]

8 hours ago, mspart said:

The only rationale I see it to get other countries to reduce their tariffs and then match.   As countries do that and as we do that, other countries will follow.   The end goal should be 0 tariffs worldwide.   That will not happen but it could be closer.   Hopefully that is the end goal for Trump as well. 

mspart

 

 

 

Oh...and that is more certainly NOT the end goal for Trump.

Trump has two end goals both implicit and articulated. One makes sense and would be short term tariffs, but cost us...immeasurably and the other will cripple our economy. 

1-Implicit, we have 10 TRILLION dollars in T-Bills maturing this year. We normally don't exceed(going off memory, but roughly) 24.5% of the deficit in a year to be T-Bills. They started raising that to around 30%. So those are coming due.

Over the 10 year life of that, for every basis point you cut in interest rates, you pay 1 billion less in servicing the debt. 
This was what Harris was warning about. If you cut too fast, equities dump. If you don't cut fast enough, unemployment skyrockets. There was concern, and he was asked by Fox, would he fire Powell OR try to strong-arm him into cutting interest rates.  He said no.

The problem with this is...you're losing FAR more than that just with the 6% swing in GDP GROWTH to CONTRACTION. 

 

2-It's not zero tariffs, he wants zero trade deficits. 

That WILL-NOT-HAPPEN. The United States doesn't want nor need non-skilled manufacturing.

So there is labor we don't want back and there's manufacturing we do. 

 

[JimmySpeaks]

9 hours ago, TylerDurden said:

You don't think globalization has happened already? 

Happened? No.  happening and continuing to happen?  yes..   And the countries that aren’t self sufficient will get gobbled up by those that are  

You do realize that crude and natural gas production were at all-time highs under Biden, right? He also issued more onshore drilling permits than Trump did in his first term. 
didn’t ukraine happen then?  I wonder who helped them out.  He also depleted our security oil reserves to try lower gas prices prior to the election.  as for permits let me know how many were executed due to the red tape of his EO’s 

We did not have "record" inflation. 
as I stated  highest since Jimmy Carter  in 2022 it was over 9%

I'm not here to defend Biden and there is plenty about administration to be critical about, but that anti-oil narrative isn't it. 

I also don't think you know what a strawman argument is. 

That makes two of us  

 

[JimmySpeaks]

https://www.bbc.com/news/live/cp8vyy35g3mt
 

oh oh