General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAP:The US predicted 90 trade deals in 90 days. So far there have been 2
WASHINGTON (AP) President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April.
White House trade adviser Peter Navarro predicted 90 deals in 90 days. Administration officials declared that other countries were desperate to make concessions to avoid the massive import taxes tariffs -- that Trump was threatening to plaster on their products starting July 9.
But the 90 days have come and gone. And the tally of trade deals stands at two one with the United Kingdom and one with Vietnam. Trump has also announced the framework for a deal with China, the details of which remain fuzzy.
Trump has now extended the deadline for negotiations to Aug. 1 and tinkered with his threatened tariffs, leaving the global trading system pretty much where it stood three months ago in a state of limbo as businesses delay decisions on investments, contracts and hiring because they dont know what the rules will be.
https://apnews.com/article/trump-tariff-deadline-japan-south-korea-trade-7ea94de216329a9b011a3d3951ae5963
gab13by13
(31,178 posts)Hugin
(37,420 posts)Not even enough for a decent cup of coffee with tariffs.
BoRaGard
(7,591 posts)I'm shocked
Ray Bruns
(5,962 posts)1. Freedonia
2. Gondor
3. Rohan
4. Wakanda
5. Themyscira
6. Genovia
7. Panem
Hugin
(37,420 posts)Unfair! Fake news!
EdmondDantes_
(1,349 posts)An island of powerful women. Trump would try his usual tactics with women and get launched into space.
IbogaProject
(5,613 posts)Those were those empty Penguin Islands near Antarctica, that AI spit up as candidates for his schemes.
After all, they "ended all tariffs against the USA", so that will be one of his gold painted "wins".
Wounded Bear
(63,828 posts)JI7
(93,196 posts)becsuse I don't know anyone or anything that said they think that would happen.
spanone
(141,003 posts)...who has a hamster running on a wheel in his head instead of a brain.
Apologies to all hamsters running on wheels.
thesquanderer
(12,902 posts)IthinkThereforeIAM
(3,277 posts)... and drag down the U.S. dollar and "force" people into buying those fake money bitcoins, ethereum, etc....
And folks may wonder why we see of no more Epstien type pervert/rapist - hedonist parties... they all have switched to untraceable bitcoin and ethereum type "assets", so no need for a crooked "stock broker" to launder money through.
Bluetus
(2,281 posts)But I'm not sure the shakedowns are actually working. Now that they see TACO-man's game, most countries are saying "Ok, whatever. You do what you are going to do. We don't pay the tariffs anyway."
And for that matter, the market manipulation may not be that useful now that everybody knows the TACO game.
the_liberal_grandpa
(264 posts)Trade deals can take months and month to negotiate and they usually are hundreds or thousands of pages long AND they have to be ratfied by congress.
What we have here are 1-2 agreements to raise or lower tariffs which is what the MFer occupying the White House loves to do and then TACO.
He wouldn't know a trade deal if it changed his Depends for him.
peggysue2
(12,381 posts)These are not 'deals' or actual agreements; they're frameworks, concepts of a deal.
All this blather that the Administration is being swarmed by countries clamoring for a deal is another Big Lie.
The Japanese opposition leader called it for what it truly is: extortion. Either give us what we want or we'll crush you. He compared the negotiation teams to juvenile delinquents who merely want to bully others into bending the knee. To acquiesce is simply encouraging more outrageous demands.
Never appease a bunch of bullies.
Initech
(107,410 posts)Let's make that perfectly clear!
pandr32
(13,767 posts)To his surprise, it hasn't been working.
In It to Win It
(12,313 posts)Bluetus
(2,281 posts)is that it is a global marketplace. Let's say Vietnam has the ability to produce 100 million garments. They have to sell them somewhere. Let's say Vietnam's cost is $5 per garment. And by the time you have transportation warehousing, and distribution costs, let's say the retailer pays $8. If the retailer can sell for a net price of $12, they should break even.
OK, add tariffs for anything going to the US. That will add $2 to the cost as seen by he retailer, so they will need to sell it for $14. Maybe that works, maybe it doesn't. But being a global market, Vietnam can sell to France, Brazil , New Zealand or wherever. As long as they net $7 per garment, they don't care where it goes.
Of course, the US has the potential to buy a lot of it, so the Vietnam plant might not be able to run at full capacity if US has some tariffs, but that's not the end of the world for them. There is no real leverage here.
Meanwhile, back in the US, we have inflation because there is nobody making those garments inside the US. And here's the killer, and the reason that the Trump plan is such a loser: if there were anybody producing locally, they would RAISE THEIR PRICE to match the price of the Vietnam product after tariffs.
That may not play out in garments because that is almost entirely offshore now. But look at cars and other industries where there is some local production, The tariffs will not stimulate much investment in the near term. Nobody will invest anything because Trump is so TACO. We have already seen car companies put big investments on hold because they never know when Trump is going to run extortion their way. So they will simply increase their prices as high as possible, given a new ceiling because of the tariffs.
In other words, without a consistent long-term strategy (and Trump's long term is 45 minutes). the only real impact of the tariffs will be inflation in the US. Nothing else.
PatSeg
(52,130 posts)Just give him "two weeks"!
twodogsbarking
(17,571 posts)It's hard to make predictions, especially about the future.
malaise
(292,696 posts)All farce
Bengus81
(9,810 posts)BTW Trump...you look like absolute SHIT in both of those pictures. The pressure of lying and BS'n all you life is really taking a toll.