TACO Wednesday

90 deals in 90 days.

Well ok, 2 deals in principle that changed nothing.

Now Trump is really serious, August 1 will be massive tariff’s day if countries don’t come make a deal.

Seems everyone knows Trump Always Chickens Out.

Kick the can, Demented Donnie.

Don’t trip.

His mouth wrote yet another check his fat ass can’t cash.

It would probably bounce anyway

TACO? Does that mean Trump wisely folds when he doesn’t have the cards? How many dead people would still be alive if LBJ chickened out? Or George W. Bush?

Thanks for the deep wisdom, Tiny. Didn't know that had jack and shit to do with Trump and his wishy-washy tariff deadlines... by the way, it's easy to fold when your hand sucks and other countries know it and they keep calling your bluff.

Thanks for the deep wisdom, Tiny. Didn't know that had jack and shit to do with Trump and his wishy-washy tariff deadlines... by the way, it's easy to fold when your hand sucks and other countries know it and they keep calling your bluff. Originally Posted by Lucas McCain

Et tu, McCain? I leave here for 2 weeks and when I come back you're a member of the topic police too.

Do you really want to see 100%+ tariffs on China and 20% to 50% tariffs on Europe and our Asian trading partners? You don't think he should be extending the deadlines and lowering the rates?

This is Trump's negotiating style. He makes maximalist demands and statements. He'll take ten steps forward. And when people put up a howl, he'll take seven steps back. Nobody notices he's three steps ahead of where we started.

The problem here though, with the trade wars, is that he took ten steps BACKWARDS initially and now is in the process of retracing part of that. I may be the biggest free trader on here btw. I don't think the USA should have the tariffs on any products that aren't strategically important. I'd love to see him totally chicken out on tariffs.

As to the analogy to wars and foreign policy, look at what he did with North Korea. Take a look at I Am the Ironman's "bomb the shit out of Moscow" thread. Kim launched an ICBM and Trump threatened to blow the country off the planet. Then using the carrot and the stick, Trump got on a path to normalize relations. Kim launched no intermediate or long range ballistic missiles during the remainder of Trump's term. Contrast with George W. Bush, whose decisions spilled millions of lives and trillions of dollars, AFTER we'd already established there were no WMD's in Iraq. After Saddam had opened the country up to inspectors because of Bush's threats. And what was all this for? So people wouldn't say BACO?

I'd much prefer a president who chickens out to one who proceeds full throttle with harmful policies.

Et tu, McCain? I leave here for 2 weeks and when I come back you're a member of the topic police too.

Do you really want to see 100%+ tariffs on China and 20% to 50% tariffs on Europe and our Asian trading partners? You don't think he should be extending the deadlines and lowering the rates?

This is Trump's negotiating style. He makes maximalist demands and statements. He'll take ten steps forward. And when people put up a howl, he'll take seven steps back. Nobody notices he's three steps ahead of where we started.

The problem here though, with the trade wars, is that he took ten steps BACKWARDS initially and now is in the process of retracing part of that. I may be the biggest free trader on here btw. I don't think the USA should have the tariffs on any products that aren't strategically important. I'd love to see him totally chicken out on tariffs.

As to the analogy to wars and foreign policy, look at what he did with North Korea. Take a look at I Am the Ironman's "bomb the shit out of Moscow" thread. Kim launched an ICBM and Trump threatened to blow the country off the planet. Then using the carrot and the stick, Trump got on a path to normalize relations. Kim launched no intermediate or long range ballistic missiles during the remainder of Trump's term. Contrast with George W. Bush, whose decisions spilled millions of lives and trillions of dollars, AFTER we'd already established there were no WMD's in Iraq. After Saddam had opened the country up to inspectors because of Bush's threats. And what was all this for? So people wouldn't say BACO?

I'd much prefer a president who chickens out to one who proceeds full throttle with harmful policies. Originally Posted by Tiny

The problem is he really believes the other country PAYs the tarrif. And nobody can (or will) explain reality to him.


For reference: A tariff or import tax is a duty imposed by a national government, customs territory, or supranational union on imports of goods and is paid by the importer.



I caught part of some footage of him being questioned about it and he went on a tangent about how the US used to be tariffs only, no income tax back in the 1700/1800s. Guess what TACO, people back then couldn't reach into their pocket, pull out a thing called a phone, open a thing called an app that connects to an internet (another thing missing from those times) and order a product from Asia and have it received in 48-72 hours. Times have changed and his mental decline has him stuck in some long gone past.


He can't negotiate because he has no bargaining power. 100% tariff on China, the US economy tanks, Trumps approval tanks, China finds alternate markets for their products. I bet all that and Trump ending up looking like a complete idiot has Xi shaking and unable to sleep at night.

The problem is he really believes the other country PAYs the tarrif. And nobody can (or will) explain reality to him.


For reference: A tariff or import tax is a duty imposed by a national government, customs territory, or supranational union on imports of goods and is paid by the importer.



I caught part of some footage of him being questioned about it and he went on a tangent about how the US used to be tariffs only, no income tax back in the 1700/1800s. Guess what TACO, people back then couldn't reach into their pocket, pull out a thing called a phone, open a thing called an app that connects to an internet (another thing missing from those times) and order a product from Asia and have it received in 48-72 hours. Times have changed and his mental decline has him stuck in some long gone past.


He can't negotiate because he has no bargaining power. 100% tariff on China, the US economy tanks, Trumps approval tanks, China finds alternate markets for their products. I bet all that and Trump ending up looking like a complete idiot has Xi shaking and unable to sleep at night. Originally Posted by 69in2it69

I don't think it's dementia. Trump's thought like this all his life, just like Pat Buchanan, Ross Perot, and my father for that matter. He views trade as a zero sum game. Nothing could be farther from the truth.

I spoke with an executive of an Asian manufacturing company a few nights ago whose company has factories in China, Vietnam and Cambodia. His money's on China coming out of this with the lowest tariffs. Why? Because it can play the rare earth elements card. I suspect he's wrong, but that's certainly plausible.

The problem is he really believes the other country PAYs the tarrif. And nobody can (or will) explain reality to him.


For reference: A tariff or import tax is a duty imposed by a national government, customs territory, or supranational union on imports of goods and is paid by the importer.



I caught part of some footage of him being questioned about it and he went on a tangent about how the US used to be tariffs only, no income tax back in the 1700/1800s. Guess what TACO, people back then couldn't reach into their pocket, pull out a thing called a phone, open a thing called an app that connects to an internet (another thing missing from those times) and order a product from Asia and have it received in 48-72 hours. Times have changed and his mental decline has him stuck in some long gone past.


He can't negotiate because he has no bargaining power. 100% tariff on China, the US economy tanks, Trumps approval tanks, China finds alternate markets for their products. I bet all that and Trump ending up looking like a complete idiot has Xi shaking and unable to sleep at night. Originally Posted by 69in2it69

I'm pretty sure he knows who pays tariffs but he keeps trying to convince the magats that China pays the tariffs, or whatever other country we get stuff from.

Reality is 100% or 150% tariffs wont do shit. It just means a $2 product now costs $4. When American company imports it and sells it for $30 the marginal difference is $2. At scale this is a big number, but reality is it would cost $20 to produce in the US. Chinese tariffs would have to hit 500% to maybe 1000 to move the needle in getting companies to manufacture here. Trump will be history in 3 years, hopefully sooner, but no company is going to commit to moving manufacturing until after 2028 when tariffs could be lifted due to a new administration.

I'm pretty sure he knows who pays tariffs but he keeps trying to convince the magats that China pays the tariffs, or whatever other country we get stuff from.

Reality is 100% or 150% tariffs wont do shit. It just means a $2 product now costs $4. When American company imports it and sells it for $30 the marginal difference is $2. At scale this is a big number, but reality is it would cost $20 to produce in the US. Chinese tariffs would have to hit 500% to maybe 1000 to move the needle in getting companies to manufacture here. Trump will be history in 3 years, hopefully sooner, but no company is going to commit to moving manufacturing until after 2028 when tariffs could be lifted due to a new administration. Originally Posted by royamcr

Manufacturing is never coming back. Never. And it's not just the price bump that's going to disrupt things...ships don't travel with one container, it sits. That's not a price increase, it's empty shelves and THAT will have a huge impact on his legacy. Supply shortages not because of a global pandemic but because he's an idiot.

This is Trump's negotiating style. He makes maximalist demands and statements. He'll take ten steps forward. And when people put up a howl, he'll take seven steps back. Nobody notices he's three steps ahead of where we started.

I'd much prefer a president who chickens out to one who proceeds full throttle with harmful policies. Originally Posted by Tiny

Tiny,

I can appreciate the fact that if there are some tariffs vs. zero, they are to the benefit of the american people. Sadly- I don't know that it will create a benefit for anyone but government in the form of filling up coffers- cause they sure as shit are dropping taxes on the middle class. And those tariffs are going EVENTUALLY get passed down through to the end users purchasers.

My biggers concern is all the rattling and maximist extremism of tariff demands; it's the kind of thing that creates ripples in the economy pond, from interest rates, stock values, and ultimately sidelining people from being a buyer or seller of goods and services. Say if you're a homebuilder- and your looking at home sales- if all the sudden lumber costs go sky high due to tariffs, or even up 10-15-30%, that house just got more expensive. No matter what interest rates end up doing- unless you are cash buyer- there is going to be a decline in housing starts with all this type of asking for a 100% when you only really needed 10-15. It just smacks of a junior high mentality of approaching countries- vs. a specific plan and preparation for justification. Economies like that steady Eddie approach vs. the TACO-Max style.


Hopefully all this nonsense gets wrapped up sooner than later- although who knows what the next damned thing Trump will start focusing on afterwards.

Hopefully all this nonsense gets wrapped up sooner than later- although who knows what the next damned thing Trump will start focusing on afterwards. Originally Posted by eyecu2

--------------------

... So America telling the other nations who charge tariffs
that NOW American is gonna charge tariffs also - is somehow
nonsense and BAD thing??

... The whole concept is to get the other nations to LOWER
their tariff costs on America's goods.

... And President Trump is the fellow to get this done.

Did Clinton do that? ... Biden? ... OBama? ... Bush??
Or did they just PAY the tariff costs??

#### Salty

--------------------

... So America telling the other nations who charge tariffs
that NOW American is gonna charge tariffs also - is somehow
nonsense and BAD thing??

... The whole concept is to get the other nations to LOWER
their tariff costs on America's goods.

... And President Trump is the fellow to get this done.

Did Clinton do that? ... Biden? ... OBama? ... Bush??
Or did they just PAY the tariff costs??

#### Salty Originally Posted by Salty Again

Hahahahahahahahahahahahahah

--------------------

... So America telling the other nations who charge tariffs
that NOW American is gonna charge tariffs also - is somehow
nonsense and BAD thing??

... The whole concept is to get the other nations to LOWER
their tariff costs on America's goods.

... And President Trump is the fellow to get this done.

Did Clinton do that? ... Biden? ... OBama? ... Bush??
Or did they just PAY the tariff costs??

#### Salty Originally Posted by Salty Again

You are ECCIE’s greatest economic mind bar none.