Trade Wars and Tariffs

#4,902
#4,902
n_huffhines said:
The market is the market and supply and demand is the law that governs it.

When you try to plan the economy from the top down, and then blame businesses for responding to new artificial and perverse incentives, doesn't that make you some kind of Marxist?
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a proud one and yet I believe in God - wait I thought half the VN politics forum was marxist
 
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#4,905
#4,905
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#4,909
#4,909
Velo Vol said:
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"The question... is whether the International Emergency Economic Powers Act... delegates these powers to the President in the form of authority to impose unlimited tariffs on goods from nearly every country in the world," the ruling added. "The court does not read IEEPA to confer such unbounded authority and sets aside the challenged tariffs."

Donnie gonna blow a gasket in 3.... 2.... 1....

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#4,912
#4,912
White House deputy chief of staff for policy Stephen Miller was blunter, posting on X that “The judicial coup is out of control” in response to the news.

Damn pesky "laws".

The forthcoming White House reaction is going to be absolutely priceless.

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#4,913
#4,913
GroverCleveland said:
Actually, I would not mind having an electric push mower. Have a couple of areas that are too big for the weed eater, but too small for the regular mower. Have a gas one that currently isn't starting and needs some TLC I've not done.
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I’ve went electric on everything and I love it. I’ve wasted too much of my life trying to start weed eaters, chainsaws, and push mowers
 
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#4,914
#4,914
Orangeburst said:
they planned our whole economy around moving away from fossil fuels, heck even subsidized it with hundreds of billions, maybe trillion..so they can spare me the crocodile tears.
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Agreed. Whatever they did in the past to reconcile in their mind of prices going up due to climate related polices across the globe, they should do the same thing for any tariff related price changes. One of those is a mountain and the other is a mole hill. One is more long-term and the other is changed with a signature.
 
#4,915
#4,915
MontyPython said:
"The question... is whether the International Emergency Economic Powers Act... delegates these powers to the President in the form of authority to impose unlimited tariffs on goods from nearly every country in the world," the ruling added. "The court does not read IEEPA to confer such unbounded authority and sets aside the challenged tariffs."
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Actual Liberation Day.
 
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#4,917
#4,917
https://x.com/amlivemon
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@amlivemon
·
3h


President can use Section 232 of the Trade Expansion Act of 1962 for national security reasons, and Section 338 of the Tariff Act of 1930 for discriminatory trade practices. Additionally, the International Emergency Economic Powers Act (IEEPA) grants the President broad authority to impose tariffs in national emergency situations.Trump had already invoked these very reasonings. The court is out of bounds here
 
#4,918
#4,918
jmacvols1 said:
President can use Section 232 of the Trade Expansion Act of 1962 for national security reasons, and Section 338 of the Tariff Act of 1930 for discriminatory trade practices. Additionally, the International Emergency Economic Powers Act (IEEPA) grants the President broad authority to impose tariffs in national emergency situations.Trump had already invoked these very reasonings. The court is out of bounds here
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Ehhh, no. No, it doesn't. And, oh BTW, there is no national emergency. Hence the Court ruling.

“IEEPA does not authorize any of the worldwide, retaliatory, or trafficking tariff orders,” the panel of judges said in their order Wednesday. “The worldwide and retaliatory tariff orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The trafficking tariffs fail because they do not deal with the threats set forth in those orders.”

Could only imagine what it's like to live in Donnie's mystical, imaginary world.

Yikes.

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#4,919
#4,919
from grok:

President Joe Biden imposed and expanded several tariffs, primarily targeting Chinese imports, while maintaining most of the tariffs from the Trump administration. Below is a summary of the key tariffs imposed or modified during Biden's presidency, based on available information:

1. Section 301 Tariffs on Chinese Imports (Expanded)
May 2024 Announcement: Biden announced significant tariff increases on $18 billion worth of Chinese goods in strategic sectors to counter China's unfair trade practices, such as intellectual property theft, forced technology transfers, and overcapacity. These tariffs were finalized in September 2024 and expanded in December 2024. Specific increases include:

Electric Vehicles (EVs): Tariff rate increased from 25% to 100% in 2024, effectively acting as a ban on Chinese EVs due to their low import volume (only 2% of U.S. EV imports).

Semiconductors: Tariff rate increased from 25% to 50% by 2025 to protect U.S. investments in semiconductor manufacturing under the CHIPS and Science Act.

Solar Cells: Tariff rate increased from 25% to 50% in 2024 to support domestic solar manufacturing

Lithium-ion EV Batteries and Critical Minerals: Tariff rate increased from 7.5% to 25% in 2024

Steel and Aluminum: Tariff rate on certain products increased from 0–7.5% to 25% in 2024 to shield U.S. industries from Chinese overcapacity

Ship-to-Shore Cranes: Tariff rate increased from 0% to 25% in 2024, with exclusions for cranes ordered before May 14, 2024, and entering before May 14, 2026

Medical Supplies:
  • Face masks: 25% tariff in 2024, increasing to 50% in 2026.
  • Syringes and needles: Tariff rate increased from 0% to 50% in 2024.
  • Personal protective equipment (PPE): Tariff rate increased from 0–7.5% to 25% in 2024.
Solar Wafers, Polysilicon, and Tungsten Products: Effective January 1, 2025, tariffs were set at 50% for solar wafers and polysilicon and 25% for tungsten products to support the U.S. clean energy supply chain

Rationale: These tariffs aimed to protect American workers and businesses in strategic sectors like clean energy, semiconductors, and critical minerals, aligning with Biden’s investments in domestic manufacturing through the CHIPS and Science Act and the Inflation Reduction Act. They were described as targeted to minimize consumer price impacts, given the limited import volume of these goods from China.


Continuation of Trump-Era Tariffs
Biden maintained most of Trump’s Section 301 tariffs on approximately $300 billion of Chinese goods, which covered about 60% of U.S.-China trade with rates up to 20%. These tariffs, implemented in 2018, targeted a broad range of Chinese products.

Tariffs on Russian Goods
In February 2023, Biden increased tariffs on various Russian goods after revoking Russia’s most-favored-nation (MFN) status in 2022, following the invasion of Ukraine. These goods faced higher “Column 2” rates (averaging 20%) under the Harmonized Tariff Schedule, as established by the Smoot-Hawley Tariff Act

Political Motivation: Biden’s tariffs were partly a response to political pressures, as both parties shifted away from free-trade policies to protect American industries. They were also framed as a counter to China’s unfair practices and a complement to domestic investment in key sectors
 
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#4,920
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#4,921
#4,921
jmacvols1 said:
Congress has already granted power to the executive branch to impose tarriffs....ask crooked Joe Biden
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Read the ruling. Some of Trump’s tariffs are unaffected. Most, however, are overturned.

Trump's tariffs debacle was a stupid, illegal gambit by an ignorant clod whose concept of fancy is a well-done fillet topped with catsup.
 
#4,925
#4,925
MontyPython said:
Read the ruling. Some of Trump’s tariffs are unaffected. Most, however, are illegal.

Trump's actions were a stupid, illegal gambit by an ignorant clod whose concept of fancy is a well-done fillet topped with catsup.
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nope.

....and the TDS is not going unnoticed in how the left is cheering that the US loses trade issues and foreign countries continue to have triple digit tarriffs on US imports to their countries.
 
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