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Tariffs in the second Trump Administration [SPLIT]

Some pages ago, I mentioned that the one really good thing to come out of the tariff fight was that Canada would move to lower all intra-provincial trade barriers...many of which actually benefitted the US companies controlling products in various provinces.

Carney has promised that by July this year, we could see these barriers down in order to assist dealing with US tariffs post April 2nd...this will further enhance Canada's ability to cut out US suppliers of goods and services.

 
Canada announced it was selling off US bonds a week or two ago.

Now Japan.

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Another province moves to stop subsidizing Musk by removing teSSlas from the rebate program.

I would think that he would be cheering the end of wasting taxpayer dollars on subsidies to private corporations like his, but I imagine, that being the whiny little bitch he is, he'll be on social media complaining like he did when BC stopped subsidizing teSSlas over the last few weeks

 
rareboy said:
Canada announced it was selling off US bonds a week or two ago.

Now Japan.

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Click to expand...

The US debt is a far far greater threat to the dollar as the world currency than anything the EU or Japan could ever do. It’s foolish to focus on what others are doing to you when you are doing it to yourself.
 
Norri said:
The US debt is a far far greater threat to the dollar as the world currency than anything the EU or Japan could ever do.
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Those bonds are the debt.
 
KaraBulut said:
Those bonds are the debt.
Click to expand...
And that is why the US will now likely be careering toward a crash in confidence....for over a hundred years the world has bought US bonds because they are backed by the ability of the US to print money backed by the ability to tax its citizens.

If Eurobonds and gold are now looking more secure than US bonds, particularly with TrumpCo. threatening to steal Greenland by force and trying to steal Canada as well (which will only result in a costly war and US bonds becoming a weapon of war), then the US bonds will have to be picked up by domestic bond holders...or maybe rrrZZZia and Hungary....

The one thing I do know is the Canada's new prime minister absolutely understands which levers to pull.
 
KaraBulut said:
Those bonds are the debt.
Click to expand...

Yes the bonds are the existing debt my point is that ongoing huge budget deficits will affect the desirability of buying more bonds moving forward……even countries dumping US bonds may have trouble doing so.

Should the day come when the US needs to sell more bonds than the market can absorb then, like NYC in the 70’s, major spending cuts are on the way but, unlike NYC the feds can print money and they will to satisfy the voting population. It’s that printing of money which is the real threat to dollar dominance.

Given the US deficits the only reason the dollar has not been challenged is because there is currently no alternative, think of the dollar as the tallest of small currencies.
 
There's a saying that "To a hammer, everything looks like a nail". It's used to explain why certain occupations only have one solution to every problem.

Trump seems to have one solution to everything. Instead of punishing Venezuela directly for whatever crimes he thinks they have perpetrated, he's going to levy tariffs against any company that buys oil from Venezuela. Meanwhile, Russia a member of OPEC+, is counting their blood money.

Trump says countries that purchase oil from Venezuela will pay 25% tariff on any trade with U.S.
  • President Donald Trump said countries that purchase oil and gas from Venezuela will face a 25% tariff on the trade those nations have with the U.S.
  • Trump said the tariff will take effect April 2.
  • The president accused Venezuela of sending gang members to the U.S.
Click to expand...
 
It has nothing to do with punishment. Everything is just cover for raising taxes off the consumers...but you have to make the MAGAts think it is because of drugs, or immigrants.

And you also get to shake down any US consumers of Venezuelan oil by offering under the table exemptions.
 
rareboy said:
It has nothing to do with punishment. Everything is just cover for raising taxes off the consumers...but you have to make the MAGAts think it is because of drugs, or immigrants.

And you also get to shake down any US consumers of Venezuelan oil by offering under the table exemptions.
Click to expand...
I still don't quite get the strategy, if there is one. Venezuela is a member of OPEC. The thing that doesn't make sense is that it's American oil companies that have a big stake in the Venezuelan oil fields.

There used to be a company in the southern US called Diamond Shamrock that got most of its supply from Venezuela. Diamond Shamrock was bought by a major refiner called Valero Energy, based in Texas, that owns several large refineries. Last I heard, most of the oil being sold by Venezuela is being purchased by companies based in the US... like Valero, like Chevron....



The thing that originally tilted Venezuela to the left was a surplus of cash when oil was selling at over $100 per barrel. When the price fell out and Pres Chavez died of cancer, he left a socialist state that didn't have enough money to support the generous social programs that had been enacted. It's been downhill ever since with uncontrolled inflation and US blocking purchases of Venezuelan oil until 2022.

If you're wanting to stem the tide of immigration from Venezuela to the US, screwing over US oil companies and cutting off US contracts with Venezuela seems to be a way to accelerate the exodus of migrants out of Venezuela.

Colombia has been taking a different tactic- they're switching their country from oil to renewable energy to stop buying oil from petro-authoritarian regimes. But I guess that makes too much sense for Trump's reptilian-brain?
 
Canada is sponsoring billboard ads in the target red states.

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More threats of tariffs- this time on automobiles.

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Down again today... still reeling from the threats of automotive tariffs next week:

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This isn't how a 25% tariff works.

Car dealers and manufacturers simply won't be able to absorb tariffs. They will simply show as a passthrough tax.

And then we'll see consumers stop buying, because these tariffs will also turn up in the finance costs and people are already being priced out of automobile ownership.

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And apparently Europe is now a single country.

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Part of me thinks that some of this is still about manipulating the markets by the insiders in order to buy in at the bottom again.
 
rareboy said:
Part of me thinks that some of this is still about manipulating the markets by the insiders in order to buy in at the bottom again.
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The problem is that the top 10% wealthiest Americans own 93% of stocks. The only people who would be able to "buy low" would be the smaller investors and day traders.
 
The wealthiest Americans want to take the companies private.
 
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