Why tariffs are beautiful

Investment Analysis Clubs Macro Economic Trends and Risks
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{{ For corporate America, including some major donors, the shock of Mr. Trump’s second term is that it turns out he really does believe the thing he’s been saying publicly for 40 years: Foreign countries are ripping America off, and tariffs are a silver bullet for America’s problems. When he says that “tariff” is the most beautiful word in the dictionary, he means it.

To Mr. Trump, tariffs are not merely a negotiating tool. He believes they will make America rich again. And they combine two of his favorite features of the presidency: They are a unilateral power that he can turn on or off on a whim, and they create a begging economy, forcing powerful people to come before him to plead for mercy. }}

The best part of tariffs is the opportunity for corruption. It’s the American Way – since Reagan.

Give them what they voted for – good and hard.

intercst

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The enquiring mind wonders which of those two ‚benefits‘ is the more important to him.

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I am sure the supplications are welcome, but bring cash.

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Sure stop exporting coal. Use less coal.

Produce more coal.

Makes sense to me.

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Second verse, same as the first.

Shilling for the coal industry in 2018:

Steve

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Drop the first 100 tons at the White House. Then 100 tons more every day as they are obviously using it–or smokin’ something causing all those fantasies…

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I like reciprocal tariffs. Why should Koreas tariff on US cars be higher than ours on Korean cars. Equalizing the rates is a good idea. But probably only a first step to remove other trade barriers. Europe seems to have many barriers to imported ag products. Starting with GMO foods.

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Duh, not a surprise. GMO items are an unknown to Europe. Not meaning as an item, but rather the long-term effects. Too short a time frame for GMO items to have proven their safety and reliability. Remember: They are GMO, so they could be subject to being modified again–but not under controlled conditions–but out in the wild (while on shelves, while being prepared, and so on). So, they choose to protect their citizens from that risk.

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The US also has “non-tariff barriers”. Cars need to meet US safety and emissions standards, for one. Drugs need to be approved by the FDA. I have read you can’t buy a real Scottish haggis in the US, because the FDA says some of the contents are not fit for human consumption.

Steve

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…

https://www.congress.gov/crs-product/IF10733

The U.S.-South Korea free trade agreement (KORUS FTA) entered into force in March 2012. The agreement has reduced and, in most cases, eliminated tariff and non-tariff barriers between the two parties on manufactured goods, agricultural products, and services. It also provides rules and disciplines on investment, intellectual property rights (IPR), and other issues; commits both countries to maintain certain worker and environmental standards; and provides mechanisms for resolving disputes. KORUS is the second-largest U.S. FTA by trade flows, after the U.S.-Mexico-Canada Agreement (USMCA).

As Trump eyes more tariffs, South Korea remains safe haven for GM and Hyundai.

South Korea has 0% tariffs on cars despite Trump renegotiating a trade deal with the country during his first term in 2018. That accord was touted for improving vehicle imports to South Korea, but it did little to address vehicle exports to the U.S.

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Why should unicorns be forced to live with leprechauns? As has already been pointed out. Korea doesn’t have tariffs on US autos…yet.

Kinda makes you wonder why so many countries in the world restrict GMO foods. Food safety in the US is crazy bad…and about to get worse. Would you like some fingers with your chicken fingers?

I think it’s a USDA thing. It’s weird, considering all of the other garbage they let us eat.

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Yes, a woeful restraint. But you can get scrapple it’s American cousin. So, rest easy, my friend.

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treat workers like chopped liver

As noted before, to “JCs”, the rest of us are expendable meat.

Steve

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Ah, but scrapple apparently does not contain ground up sheep’s lungs.

Steve

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Are we sure about that? It appears to be a pork product, but who knows what they throw in there. Maybe a sheep got lost and fell in the vat.

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Yep but I do not let myself eat it.