25% on our closest allies and trading partners. Possibly a lower tariff on oil imports. Still weighing that one. 10% on China. Previous statements indicate that 10% will be on top of existing tariffs on Chinese goods.
No word on “retribution” for Korea, Japan, or the EU.
Steve…stocked up on Chinese and Mexican TVs, and Chinese DVD players, from the Salvation Army store
Film at 11:
Just set up a live broadcast of gas station prices going UP !!
And then label the cause of the price increase. Remember: Prices were trending DOWN. So, if prices go UP, the cause of the increase(s) can be publicly documented.
TI in all his glory
20/25 20/20
Still not clear if tariffs will be across the board on everything crossing the border or only on selected products.
Fertilizer is one product likely to be impacted. The three numbers on the bag are N-P-K. The K is potash and most comes from Canada. Mosaic for one mines it there. CF industries is the best known fertilizer company.
They will probably end up paying tariffs. Abt $30/ ton to import from overseas. Not much capacity in the US. So prices should be up (once inventories are depleted). You expect much of agriculture to be impacted.
Nitrogen and phosphate should be ok. Both are domestic.
As the USian tariffs have nothing to do with “unfair” trade, but are entirely punitive, I don’t look for a lot of detail in them. The only carve out I am aware of is for oil, at 10%, so the check must have cleared.
TNG threatened tariff increases, if Mexico and Canada responded in kind, which they have. As they say “tune in again next week, for another exciting adventure”.
Steve
Yep this is a full out tariff war. This is round one. The Chinese are just as unhappy. The world at large has decided to fight back this time. So if TI makes exceptions that does not mean anyone else will make exceptions for TI.
Columbia in the very first issue did not fight back but if the larger players fight back all the smaller players will pile on for the most part.
The man is TI in all his glory.
iirc, the US has been funding Columbia’s “fight” against Commie guerillas, for years, so they were vulnerable. TNG claims the US is subsidizing Canada, to the tune of some massive sum, per year, feeding his “the US is a victim” narrative. I can’t imagine how the US could be subsidizing Canada?
Steve
Depends, if people in aggregate world wide are laid off demand will drop for food. Why not? Food prices and other prices will drop.
But not in Central Europe. They have supply side economics. Aggregate demand does not drop with lay off to any substantial degree. They have the printing press.
Canadians are different from USAians, Trump has awakened that difference, and I believe that quite serious consequences are coming down the road.
This Canadian MP, Charlie Angus***, shows the contrast between USA and Candada in unity and readiness for bruises and carnage. USA is simply watching its Prez make odd grimaces and proclamations of power, while Canada feels its existence is threatened and its long alliance with USA is treated as trash. They are reacting far more strongly than the USA press is reporting.