Trump: 20% tax on Mexican imports

[Tokyo Rose 1,475]

Just now, Luc said:

It's called a trade war. This is how a global recession can start.

 

This is also why Canada signed a trade deal with Europe and China: they saw it coming and are diversifying their trade as quickly as possible.

The end result of all of this? Economic decline in both the US and in Mexico and the global power shifting to either the EU or China.

but for now I'm calling bluff. Let's see what happens. The stakes for both countries are high. This is definitely a blow to the US' image forever, though. It's funny how Trump has hurt the US' position in the world so much already by simply Tweeting things.

That is so silly! To pretend other countries will risk THEIR relationship with the USA for puny old Mexico who does nothing for anybody in the world markets.

[Luc 4,776]

1 minute ago, Tokyo Rose said:

That is so silly! To pretend other countries will risk THEIR relationship with the USA for puny old Mexico who does nothing for anybody in the world markets.

The four biggest mistakes of Trump's presidency so far:

- he called NATO obselete. The EU can arm itself to the teeth if it wants to, right now. This could be the start of the EU becoming the central power in the world rather than the US. It's also putting into question whether the Baltic countries will be protected when the Russians come. From this statement alone, all of the US' allies no longer trust the US to be able to maintain long-term relations and to help them when it really comes down to it. That's what their worldwide power relies on: trust.

- he failed with TTP. Countries in Latin America and Eastern Asia are already turning to China because of this. He just improved China's position in the world by quite a lot. He should've 'renegotiated' the deal. This is about a mini-war between the economic system of China (especially when it comes to copyrights) and the system of the US. The US is losing it if they don't sign TTP.

- he was skeptic on the EU and more specifically on Germany's role in it. Let's remember that the EU has the biggest economy in the world and the Euro could very well become the main currency in the world when fossil fuels die out. This will cause a more assertive EU that will go for its own interests and integrate further to counter US influence. This will in turn lead to the EU actually being able to use their power (biggest economy, trade, innovation, etc.) to their benefit.

- he called mutually beneficial trade into question. Countries will make sure they don't rely on the US after this. Canada is already doing it. If all it takes to start a trade war and destroying a big part of another's economy is cancelling a meeting, it means that you can't rely on the US on trade.

 

all in all, Trump is accelerating the US' decline in the world. It'll be interesting to see whether the EU can face its challenges quickly enough to 'lead' the world after this.

[donutellha 13,819]

Time to be like gaga and be a farmer!

is this even real icant

[Tokyo Rose 1,475]

4 minutes ago, Luc said:

The four biggest mistakes of Trump's presidency so far:

- he called NATO obselete. The EU can arm itself to the teeth if it wants to, right now. This could be the start of the EU becoming the central power in the world rather than the US. It's also putting into question whether the Baltic countries will be protected when the Russians come. From this statement alone, all of the US' allies no longer trust the US to be able to maintain long-term relations and to help them when it really comes down to it. That's what their worldwide power relies on: trust.

- he failed with TTP. Countries in Latin America and Eastern Asia are already turning to China because of this. He just improved China's position in the world by quite a lot. He should've 'renegotiated' the deal. This is about a mini-war between the economic system of China (especially when it comes to copyrights) and the system of the US. The US is losing it if they don't sign TTP.

- he was skeptic on the EU and more specifically on Germany's role in it. Let's remember that the EU has the biggest economy in the world and the Euro could very well become the main currency in the world when fossil fuels die out. This will cause a more assertive EU that will go for its own interests and integrate further to counter US influence. This will in turn lead to the EU actually being able to use their power (biggest economy, trade, innovation, etc.) to their benefit.

- he called mutually beneficial trade into question. Countries will make sure they don't rely on the US after this. Canada is already doing it. If all it takes to start a trade war and destroying a big part of another's economy is cancelling a meeting, it means that you can't rely on the US on trade.

 

all in all, Trump is accelerating the US' decline in the world. It'll be interesting to see whether the EU can face its challenges quickly enough to 'lead' the world after this.

EU counts on the US for it's military industrial complex. That's not going to change over night because some crybabies don't like who's president now. 

[Born To Slay 10,996]

Doesn't Mexico just have to send them o another nation first and then ship it to America?

[River 127,310]

He's a psycho, like for real, wtf is he doing?! stop lol it's becoming a parody of the presidency.

[Whispering 18,865]

33 minutes ago, Tokyo Rose said:

That is so silly! To pretend other countries will risk THEIR relationship with the USA for puny old Mexico who does nothing for anybody in the world markets.

The tariff will hurt the US. Trump would have to completely pull out of NAFTA. The first wave would be job loss and higher prices passed onto consumers. The auto industry fears a combination of the Trump-proposed tariffs and a pullout from NAFTA could be a job killer. Last week, the Center for Automotive Research released a study that found 31,000 American jobs would be lost if the U.S. abandoned NAFTA.

The report also estimated 6,700 North American assembly jobs would be lost if a tariff on vehicles imported from Mexico were enacted.

What's silly is that you believe this has to do with not liking a President. Most Americans don't want to pay more for goods and services and don't want their taxes raised for Trump's useless symbolic wall. 

[Whispering 18,865]

1 hour ago, Morphine Prince said:

Wait until people realize how much **** we use comes from Mexico and it will be hard to avoid buying more expensive Mexican products 

Don't you live in Texas? 

This is going to hurt Texas' economy and Texan's wallet. Mexico is the state's number one trading partner. Mexico accounts for over $90.1 billion, (29 percent) of Texas imports. Also, there are over 1.1 million Texas jobs that depend on trade between Mexico. 

On the plus side, this could speed up Texas's change from solid red to blue.  

[Omar Vela 2,745]

hope he falls in his bathroom and dies

[Lion Heart 15,041]

If you put a 20% tax on Mexican imports... don't WE pay for the wall?

[Muscletank 410]

Mexico will repay in kind so this isn't a worthwhile policy. Out of all of his policies, the wall is the one I cannot get my head around. Besides the moral objection, I don't see how it can actually work? People can go over or under. Not to mention, whoever the next president is, could order it to be demolished. So all in all, it seems like an enormous waste of money.

[DemeLarell 931]

OMG. I think I lost brain cells coming in this thread. These comments.... Take an economics class please. 

 

[Born To Slay 10,996]

17 minutes ago, Lion Heart said:

If you put a 20% tax on Mexican imports... don't WE pay for the wall?

That's what I was thinking

[Luc 4,776]

1 hour ago, Tokyo Rose said:

EU counts on the US for it's military industrial complex. That's not going to change over night because some crybabies don't like who's president now. 

It's not just about who the president is now, it's about long-term mutual trust that every alliance needs. No Obama can assure European leaders that it won't ever happen again after this. EU leaders will make sure it doesn't matter if it ever happens again. They will invest heavily in military, defense and create a common defense and foreign policy union. The only obstacle right now (besides elections in France, Germany and possibly Italy) is the UK still having veto powers in the European Council. 

 

 

An example of how important trust can be:

Israel has stopped sharing state secrets with the US because of the possibility that Trump's team leaks it to Russia, who in turn leak it to Israel's arch enemy Iran.

[Morphine Prince 109,645]

UPDATE: They walked back on this

http://www.politico.com/story/2017/01/trump-tax-mexican-imports-pay-for-border-wall-234239