Trump's Tariffs and Possible Trade War (Part II)

[Bazza]

(previous thread maxed out at 500 posts)

Trump announces tariff deal with South Korea — U.S.'s 6th-biggest trading partner

President Trump announced Wednesday he has struck a trade deal with South Korea.

Mr. Trump wrote on Truth Social that South Korean goods will face a 15% tariff — lower than the 25% he threatened earlier this month — while U.S. imports to South Korea will not face tariffs. He said South Korea will be "OPEN TO TRADE" and will accept U.S. automobiles.

South Korea is the latest key U.S. trading partner to reach an agreement with the Trump administration, ahead of a Friday deadline when Mr. Trump says he'll impose hefty tariffs on dozens of countries.

South Korean President Lee Jae-myung confirmed his country had reached a deal with the U.S. in a Facebook post.

In addition to the 15% tariff, Mr. Trump said South Korea agreed to "give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself." Lee said the fund will help South Korean companies enter the U.S. market, especially in industries like semiconductors and biotech, and $150 billion of the total $350 billion will focus on shipbuilding.

South Korea will also buy $100 billion dollars' worth of liquified natural gas or other energy products, and will "invest a large sum of money for their investment purposes," Mr. Trump said

More here:

Trump announces tariff deal with South Korea — U.S.'s 6th-biggest trading partner

South Korea appears to be the latest key U.S. trading partner to reach an agreement with the Trump administration, ahead of a Friday deadline when hefty tariffs take effect.

www.cbsnews.com

 

[Bazza]

I've been buying some motorcycle decals from a supplier in Canada. In fact, just got another shipment in today's mail.

I have another shipment coming - already paid for (almost a month ago in fact) and should be here any day.

Then, last night got an email from the owner mentioning some price increases due to material cost increases - plus the regulations on duty parameters has changed.

Luckily, I stocked up prior to this and so wasn't planning on buying any more product from him any time soon.

FWIW, I assisted him in development of some of the decals in his production. One he was making was a little shorter than OEM, which I pointed out to him. And then he needed some photos of some he was trying to make he didn't have the originals of.

Couple parts from his email:

While most prices will increase, a few items will remain​

stable or even decrease slightly-especially where we've made improvements​

that add more value. Shipping fees have also changed due to labour​

increases. Despite these challenges, I believe our products are still​

competitively priced and the value, accuracy and quality of our products are​

well worth it. Please keep in mind, the percentage increase in my raw​

materials won't cause significant changes to the overall products, since​

there is a noticeable amount of labour added at our facility.​

Due to these changes, we can no longer use our preferred and lower-cost​

Canada Post/USPS shipping method. Instead, we will now be using FedEx for​

all U.S.-bound shipments to ensure compliance and timely delivery.​

I want to emphasize how much I value my U.S. customers. The recent trade​

policy changes have made cross-border business more complex and costly to​

you, and I understand the frustration this may cause. If you feel these​

changes are affecting you unfairly, I encourage you to share your concerns​

with your local government representatives. Civic feedback is a vital part​

of shaping trade policy, and your voice can help advocate for fairer, more​

sustainable solutions that support small businesses on both sides of the​

border.​

​

==========

I actually welcome the shipper change to FedEx, Canada Post has been OK but a little on the slow side, IMHO.

 

[Its On A Slab]

Store brand Nutella(generic) yesterday, large jar: $4.50

Name brand Nutella: $9.00

ChatGPT says US suppliers are in Canada. Not sure if Canada is paying such high tariffs.

Like everything else, a tariff is just a tax on the consumer.

i never buy the name-brand Nutella, anyway. The generic version is just as good.

I buy Lavazza coffee, Italian esppresso roast. Prices jumped sky high, no doubt because the beans come from Brazil. Yet, when I checked for any US coffee, it was still less expensive to pay the extra amt for what I wanted anyway....my espresso roast.

 

[Padreruf]

Now that SCOTUS has ruled against the tariffs, what will happen? Do we think Congress will act before the midterm elections? Personally I doubt it...but I do expect some tariffs aimed at China...

 

[bamaga]

Hmm,

Trump's sweeping global tariffs struck down by US Supreme Court ruling - follow live

The Supreme Court rules with a 6-3 majority that Trump exceeded his authority when he imposed tariffs via a law reserved for national emergencies.

www.bbc.com

 

[bamaga]

Now that SCOTUS has ruled against the tariffs, what will happen? Do we think Congress will act before the midterm elections? Personally I doubt it...but I do expect some tariffs aimed at China...

I think Trump will try to push for some type of law through
before the midterms. Can’t guess the scope, hopefully Congress wont give away the powers SCOTUS just returned.

 

[bamaga]

BTW, listening to WSB, they are talking this may be a win for the president in the long run because without the tariffs , prices will go down and it will show as inflation easing and the economic outlook will look better in that sense. However, I’m of the opposing opinion that now retailers realize Americans will pay the higher prices. There is no way in hell they’re giving that gain back . There is also talk of Retailers suing the government for tariffs paid. I think the money recouped should go back to consumers not the retailers

 

[bamacpa]

The budget deficit was projected to be over $ 1 trillion FYE 9/30/26, and that was with tariffs. What happened to fiscal conservatives ?

 

[Bamabuzzard]

BTW, listening to WSB, they are talking this may be a win for the president in the long run because without the tariffs , prices will go down and it will show as inflation easing and the economic outlook will look better in that sense. However, I’m of the opposing opinion that now retailers realize Americans will pay the higher prices. There is no way in hell they’re giving that gain back . There is also talk of Retailers suing the government for tariffs paid. I think the money recouped should go back to consumers not the retailers

BINGO!!!! I can't name much that truly "goes down" in price after consumers have shown they will pay the higher price.

 

[bamaga]

On Truth Social-

- To show you how ridiculous the opinion is, the Court said that I’m not allowed to charge even $1 DOLLAR to any Country under IEEPA, I assume to protect other Countries, not the United States which they should be interested in protecting — But I am allowed to cut off any and all Trade or Business with that same Country, even imposing a Foreign Country destroying embargo, and do anything else I want to do to them — How nonsensical is that? They are saying that I have the absolute right to license, but not the right to charge a license fee. What license has ever been issued without the right to charge a fee? But now the Court has given me the unquestioned right to ban all sorts of things from coming into our Country, a much more powerful Right than many people thought we had.

Our Country is the “HOTTEST” anywhere in the World, but now, I am going in a different direction, which is even stronger than our original choice. As Justice Kavanaugh wrote in his Dissent:

“Although I firmly disagree with the Court's holding today, the decision might not substantially constrain a President's ability to order tariffs going forward. That is because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs issued in this case...Those statutes include, for example, the Trade Expansion Act of 1962 (Section 232); the Trade Act of 1974 (Sections 122, 201, and 301); and the Tariff Act of 1930 (Section 338).”

Thank you Justice Kavanaugh!

In actuality, while I am sure they did not mean to do so, the Supreme Court’s decision today made a President’s ability to both regulate Trade, and impose TARIFFS, more powerful and crystal clear, rather than less. There will no longer be any doubt, and the Income coming in, and the protection of our Companies and Country, will actually increase because of this decision. Based on longstanding Law and Hundreds of Victories to the contrary, the Supreme Court did not overrule TARIFFS, they merely overruled a particular use of IEEPA TARIFFS. The ability to block, embargo, restrict, license, or impose any other condition on a Foreign Country’s ability to conduct Trade with the United States under IEEPA, has been fully confirmed by this decision. In order to protect our Country, a President can actually charge more TARIFFS than I was charging in the past under the various other TARIFF authorities, which have also been confirmed, and fully allowed.

Therefore, effective immediately, all National Security TARIFFS, Section 232 and existing Section 301 TARIFFS, remain in place, and in full force and effect. Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged, and we are also initiating several Section 301 and other Investigations to protect our Country from unfair Trading practices. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!

PRESIDENT DONALD J. TRUMP -

SPIT meet FACE

 

[bamaga]

The budget deficit was projected to be over $ 1 trillion FYE 9/30/26, and that was with tariffs. What happened to fiscal conservatives ?

Trumpism and conservative are not the same thing, Conservatives are Americans that pretend to be on a diet by ordering the #3 combo at McDonald’s with a Diet Coke, TRUMPISM is anything that strokes Trumps ego, making him feel like the most powerful man on earth. Spending Taxpayer money is right up his alley. What happened to DOGE? Or was that just an oxymoron?

 

[CrimsonNagus]

On Truth Social-

- To show you how ridiculous the opinion is, the Court said that I’m not allowed to charge even $1 DOLLAR to any Country under IEEPA, I assume to protect other Countries, not the United States which they should be interested in protecting — But I am allowed to cut off any and all Trade or Business with that same Country, even imposing a Foreign Country destroying embargo, and do anything else I want to do to them — How nonsensical is that? They are saying that I have the absolute right to license, but not the right to charge a license fee. What license has ever been issued without the right to charge a fee? But now the Court has given me the unquestioned right to ban all sorts of things from coming into our Country, a much more powerful Right than many people thought we had.

Our Country is the “HOTTEST” anywhere in the World, but now, I am going in a different direction, which is even stronger than our original choice. As Justice Kavanaugh wrote in his Dissent:

“Although I firmly disagree with the Court's holding today, the decision might not substantially constrain a President's ability to order tariffs going forward. That is because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs issued in this case...Those statutes include, for example, the Trade Expansion Act of 1962 (Section 232); the Trade Act of 1974 (Sections 122, 201, and 301); and the Tariff Act of 1930 (Section 338).”

Thank you Justice Kavanaugh!

In actuality, while I am sure they did not mean to do so, the Supreme Court’s decision today made a President’s ability to both regulate Trade, and impose TARIFFS, more powerful and crystal clear, rather than less. There will no longer be any doubt, and the Income coming in, and the protection of our Companies and Country, will actually increase because of this decision. Based on longstanding Law and Hundreds of Victories to the contrary, the Supreme Court did not overrule TARIFFS, they merely overruled a particular use of IEEPA TARIFFS. The ability to block, embargo, restrict, license, or impose any other condition on a Foreign Country’s ability to conduct Trade with the United States under IEEPA, has been fully confirmed by this decision. In order to protect our Country, a President can actually charge more TARIFFS than I was charging in the past under the various other TARIFF authorities, which have also been confirmed, and fully allowed.

Therefore, effective immediately, all National Security TARIFFS, Section 232 and existing Section 301 TARIFFS, remain in place, and in full force and effect. Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged, and we are also initiating several Section 301 and other Investigations to protect our Country from unfair Trading practices. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!

PRESIDENT DONALD J. TRUMP -

SPIT meet FACE

I was going to say he's an idiot, but Congress will never hold him accountable. SCOTUS doesn't have the power to hold him accountable. So he can do whatever he wants, including defying this ruling. He will face zero consequences. So, is Trump the idiot, or is everyone else just bigger idiots?

 

[92tide]

On Truth Social-

- To show you how ridiculous the opinion is, the Court said that I’m not allowed to charge even $1 DOLLAR to any Country under IEEPA, I assume to protect other Countries, not the United States which they should be interested in protecting — But I am allowed to cut off any and all Trade or Business with that same Country, even imposing a Foreign Country destroying embargo, and do anything else I want to do to them — How nonsensical is that? They are saying that I have the absolute right to license, but not the right to charge a license fee. What license has ever been issued without the right to charge a fee? But now the Court has given me the unquestioned right to ban all sorts of things from coming into our Country, a much more powerful Right than many people thought we had.

Our Country is the “HOTTEST” anywhere in the World, but now, I am going in a different direction, which is even stronger than our original choice. As Justice Kavanaugh wrote in his Dissent:

“Although I firmly disagree with the Court's holding today, the decision might not substantially constrain a President's ability to order tariffs going forward. That is because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs issued in this case...Those statutes include, for example, the Trade Expansion Act of 1962 (Section 232); the Trade Act of 1974 (Sections 122, 201, and 301); and the Tariff Act of 1930 (Section 338).”

Thank you Justice Kavanaugh!

In actuality, while I am sure they did not mean to do so, the Supreme Court’s decision today made a President’s ability to both regulate Trade, and impose TARIFFS, more powerful and crystal clear, rather than less. There will no longer be any doubt, and the Income coming in, and the protection of our Companies and Country, will actually increase because of this decision. Based on longstanding Law and Hundreds of Victories to the contrary, the Supreme Court did not overrule TARIFFS, they merely overruled a particular use of IEEPA TARIFFS. The ability to block, embargo, restrict, license, or impose any other condition on a Foreign Country’s ability to conduct Trade with the United States under IEEPA, has been fully confirmed by this decision. In order to protect our Country, a President can actually charge more TARIFFS than I was charging in the past under the various other TARIFF authorities, which have also been confirmed, and fully allowed.

Therefore, effective immediately, all National Security TARIFFS, Section 232 and existing Section 301 TARIFFS, remain in place, and in full force and effect. Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged, and we are also initiating several Section 301 and other Investigations to protect our Country from unfair Trading practices. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!

PRESIDENT DONALD J. TRUMP -

SPIT meet FACE

that was much easier to read imagining it in pee wee herman’s voice

 

[92tide]

Trumpism and conservative are not the same thing, Conservatives are Americans that pretend to be on a diet by ordering the #3 combo at McDonald’s with a Diet Coke, TRUMPISM is anything that strokes Trumps ego, making him feel like the most powerful man on earth. Spending Taxpayer money is right up his alley. What happened to DOGE? Or was that just an oxymoron?

doge was a shiny object to distract folks while they were looting the government

 

[CrimsonJazz]

“Although I firmly disagree with the Court's holding today, the decision might not substantially constrain a President's ability to order tariffs going forward. That is because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs issued in this case...Those statutes include, for example, the Trade Expansion Act of 1962 (Section 232); the Trade Act of 1974 (Sections 122, 201, and 301); and the Tariff Act of 1930 (Section 338).”

This right here is the only part that really caught my attention. In the days leading up to this decision, I have heard this very thing predicted by multiple people and sure enough, it happened. The only appropriate reaction seems to be a collective shoulder-shrug. I haven't had time to read Justice Thomas' dissent, but many on X agree it's worth checking out. Maybe I will, but not this weekend. We are on our way to Florida to visit our granddaughter.

 

[bamaga]

This right here is the only part that really caught my attention. In the days leading up to this decision, I have heard this very thing predicted by multiple people and sure enough, it happened. The only appropriate reaction seems to be a collective shoulder-shrug. I haven't had time to read Justice Thomas' dissent, but many on X agree it's worth checking out. Maybe I will, but not this weekend. We are on our way to Florida to visit our granddaughter.

Have a safe trip. The court didn’t strike down tariffs in general, just tariffs using the IEEPA. I don’t think SCOTUS wants to curtail the executive branches ability to negotiate fair trade deals, including tariff threats or coercion , but they don’t want a President threatening tariffs Willy Nilly . Besides the obvious diplomacy shortcomings and uneven and unfair levying, Frankly, it’s embarrassing.

 

[bamaga]

Hey Democrats, you do know that when you say the White should give back the money with interest, that money doesn’t come out of Trumps pockets. It’s we the people that will foot the bill in the end. Americans paid the tariffs when we bought goods, and now will pay again with refunds.

 

[92tide]

Hey Democrats, you do know that when you say the White should give back the money with interest, that money doesn’t come out of Trumps pockets. It’s we the people that will foot the bill in the end. Americans paid the tariffs when we bought goods, and now will pay again with refunds.

not that i think anyone will see a dime. but if it happened, americans would be getting a refund of the tax that they paid

 

[TIDE-HSV]

Actually, the SCOTUS has handed the district courts an enormous weapon. Each of those other acts require actions by Commerce, Board of Trade, etc. Of course, he has those stuffed with his clown, or will. There will be someone in the wings, ready with a motion for an injunction because he hasn't followed procedures. There will no more tariffs tied to his not receiving the Nobel Prize. We're about to enter into an interesting phase. He finally ran out of gas, after failing 63 times in court to set the 2020 election aside. Let's see how much appetite he has for this protracted battle...

 

[bamaga]

Actually, the SCOTUS has handed the district courts an enormous weapon. Each of those other acts require actions by Commerce, Board of Trade, etc. Of course, he has those stuffed with his clown, or will. There will be someone in the wings, ready with a motion for an injunction because he hasn't followed procedures. There will no more tariffs tied to his not receiving the Nobel Prize. We're about to enter into an interesting phase. He finally ran out of gas, after failing 63 times in court to set the 2020 election aside. Let's see how much appetite he has for this protracted battle...

Oh, by then we will be distracted by the Iran war, brought to you by the President of Peace.