Hillhater
100 TW
I guess we will each have to research details of the tarriff implications specific to our home countries .
i just hope that personal/ low value items will not be impacted too much.
The age of cheap Chinese stuff is ending in the USA? [includes politics, but shouldn't]
- Thread starter neptronix
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i just hope that personal/ low value items will not be impacted too much.
I looked up the USA's de minimis rule ( <$800 exemption ) and where it's at, seems to also be in purgatory, may be on one day, may be off the other..
I know it applies to Canada->USA orders for quite a while.
Hillhater, what's going on over there, trade war wise, in Aus?
I know it applies to Canada->USA orders for quite a while.
Hillhater, what's going on over there, trade war wise, in Aus?
gromike
10 kW
Looks like it's happened.
Yeah EU getting hit with a 25% tariff for reasons that don't line up
Trump says 25% tariffs on EU will be announced soon
I wonder if EU will retaliate, since everyone wants to play now.
Trump says 25% tariffs on EU will be announced soon
I wonder if EU will retaliate, since everyone wants to play now.
Bad news.
US stock market down 2-3% on the announcing of these tariffs taking effect today:
25% on Mexico
25% on Canada
20% on China
Ref: https://www.reuters.com/markets/us/futures-edge-up-with-economic-data-tariffs-focus-2025-03-03/
BEIJING — China “firmly rejects” additional U.S. tariffs on Chinese goods and will take countermeasures, the Ministry of Commerce said in a statement Tuesday.
The duties will “hurt” U.S.-China trade relations and China urges the U.S. to withdraw them, the ministry said in Chinese, translated by CNBC. Beijing has previously warned of countermeasures, but has yet to detail any.
China's response?
CNN says:
After the first round of new U.S. tariffs in February, China’s retaliatory measures included raising duties on certain U.S. energy imports and putting two U.S. companies on an unreliable entities list that could restrict their ability to do business in the Asian country.
The White House has confirmed that new duties of 10% on Chinese goods are set to take effect Tuesday, bringing the total amount of new tariffs imposed in just about a month to 20%.
The average effective U.S. tariff rate on Chinese goods is thus set to hit 33%, up from around 13% before U.S. President Donald Trump began his latest term in January, according to estimates from Nomura’s Chief China economist Ting Lu.
Hope you hoarded ebike stuff! looks like the age of cheap Chinese stuff is on it's way out!
US stock market down 2-3% on the announcing of these tariffs taking effect today:
25% on Mexico
25% on Canada
20% on China
Ref: https://www.reuters.com/markets/us/futures-edge-up-with-economic-data-tariffs-focus-2025-03-03/
BEIJING — China “firmly rejects” additional U.S. tariffs on Chinese goods and will take countermeasures, the Ministry of Commerce said in a statement Tuesday.
The duties will “hurt” U.S.-China trade relations and China urges the U.S. to withdraw them, the ministry said in Chinese, translated by CNBC. Beijing has previously warned of countermeasures, but has yet to detail any.
China's response?
CNN says:
After the first round of new U.S. tariffs in February, China’s retaliatory measures included raising duties on certain U.S. energy imports and putting two U.S. companies on an unreliable entities list that could restrict their ability to do business in the Asian country.
The White House has confirmed that new duties of 10% on Chinese goods are set to take effect Tuesday, bringing the total amount of new tariffs imposed in just about a month to 20%.
The average effective U.S. tariff rate on Chinese goods is thus set to hit 33%, up from around 13% before U.S. President Donald Trump began his latest term in January, according to estimates from Nomura’s Chief China economist Ting Lu.
Hope you hoarded ebike stuff! looks like the age of cheap Chinese stuff is on it's way out!
hillslayer@
100 W
This is going to be hyper inflation hope you stocked up on food.
Look up the definition of hyperinflation and see if what you're projecting matches the definition.
We import approx 15% of the food in the USA. Part of that 15% is about to get 25% more expensive.
It's possible to change sourcing and soak up some of that price increase within a year.
We import 41% of our electronics from China; that's the part that's really going to hurt.
It will take years to soak up that cost increase by sourcing from other countries.
We import ~25% of our steel/aluminum from affected countries.
..that's also on the difficult side.
I predict that the pain level will be similar or lesser than the inflation and price gouging we saw in 2020-2022 when the government was printing craptons of money and paying people to stay home instead of produce things.
Companies have a zillion possible moves to reduce the impact of tarriffs. I would expect a short term increase on prices, with a gradual leveling off.
We import approx 15% of the food in the USA. Part of that 15% is about to get 25% more expensive.
It's possible to change sourcing and soak up some of that price increase within a year.
We import 41% of our electronics from China; that's the part that's really going to hurt.
It will take years to soak up that cost increase by sourcing from other countries.
We import ~25% of our steel/aluminum from affected countries.
..that's also on the difficult side.
I predict that the pain level will be similar or lesser than the inflation and price gouging we saw in 2020-2022 when the government was printing craptons of money and paying people to stay home instead of produce things.
Companies have a zillion possible moves to reduce the impact of tarriffs. I would expect a short term increase on prices, with a gradual leveling off.
docw009
10 MW
De Minimus still rules. I just got a golf ball retriever, better made. stronger and longer than any I've ever owned for 9 bucks today from aliexpress. They're shipping in 7 days now, Also a bag of socks. I can almost be like Jack Reacher and never do laundry at these prices.
hillslayer@
100 W
And you're assuming that the trade war is just going to level off as is . That's almost impossible with the way it's going.
JackFlorey
100 kW
Yep. People should start stocking up on things critical to them - prescription medications, hard to get food etc. A solar power system would be a very good idea. Nonperishable ordinary food might be a good idea as well.
gromike
10 kW
...tires, chains, brake pads, and every other wear item that comes from China. Food we make here, and India is a big pharma manufacturer.
JackFlorey
100 kW
Yep. But as we have seen with the price of eggs, mismanagement also has a cost. And tariffs will be pushing prices higher on things farmers need as well.
And mismanagement is pretty much a guarantee.
Sure, it could get worse. But hyperinflation means >50% inflation per month.
So what you're saying is that you think the trade war will destroy the global economy - nobody will intervene or stop the war, see ya later, civilization?
docw009
10 MW
Just read an article about Chinese EV's in Australia. I guess GM was once in OZ, but after Mad Max, the Holden line went kaput? Anyway, there is no auto industry to protect, and locals are able to buy the BYD's from China and have a good time? There were some comments about security, but someone said, "what does it matter if they know where I drive?"
Meanwhile, Kia and State Farm know where I drive and how fast, And since our defensse experts were told to lay off the Russian hackers, soon Moscow will have access to that data,.
Meanwhile, Kia and State Farm know where I drive and how fast, And since our defensse experts were told to lay off the Russian hackers, soon Moscow will have access to that data,.
I guess they will get to find out the hard way.
You almost baited me into this OT because i work in cybersecurity and have some opinions.
Let's keep it related to tariffs
docw009
10 MW
100% tariff on Chinese cars. Would like to know if they're any good. The article I read had the Australian husband ready to drop money on a Chinese electric truck after drivings his wife;s BYD.
It would be difficult for Chinese cars to pass USA's safety standards etc.
USA automaker lobby probably behind the huge tariff during the Biden administration.
Yeah, it sucks, we the consumers got chicken tax'd again.
Boo. more bad news.
US tariffs could add up to $12,000 to new car prices
The imposition of 25% tariffs on Canadian and Mexican vehicle imports, alongside new 20% duties on Chinese auto products, is set to significantly impact North American automotive supply chains, with a knock-on effect on the European motor financing sector.
Analysts suggest that these measures will sharply increase production costs for original equipment manufacturers (OEMs) and suppliers, with the effects rippling across global markets, including European motor finance.
According to the Anderson Economic Group (AEG), the cost to build a crossover utility vehicle in the US is expected to rise by at least $4,000. For electric vehicles (EVs), the impact is even more pronounced, with price increases reaching as high as $12,000 per vehicle. These costs will likely be passed on to consumers, leading to a sharp decline in sales for models most affected by the tariffs, Bloomberg reported.
If you combine this with the current high interest rates that are already hampering auto sales, this is really going to hurt the USA auto industry until they re-shore production. May get bad enough that they ask for bailouts.... and probably get them.
Current outlook: bad with a small possibility of apocalypse
Alternate scenario: Americans stop buying friggin' huge cars
USA automaker lobby probably behind the huge tariff during the Biden administration.
Yeah, it sucks, we the consumers got chicken tax'd again.
Boo. more bad news.
US tariffs could add up to $12,000 to new car prices
The imposition of 25% tariffs on Canadian and Mexican vehicle imports, alongside new 20% duties on Chinese auto products, is set to significantly impact North American automotive supply chains, with a knock-on effect on the European motor financing sector.
Analysts suggest that these measures will sharply increase production costs for original equipment manufacturers (OEMs) and suppliers, with the effects rippling across global markets, including European motor finance.
According to the Anderson Economic Group (AEG), the cost to build a crossover utility vehicle in the US is expected to rise by at least $4,000. For electric vehicles (EVs), the impact is even more pronounced, with price increases reaching as high as $12,000 per vehicle. These costs will likely be passed on to consumers, leading to a sharp decline in sales for models most affected by the tariffs, Bloomberg reported.
If you combine this with the current high interest rates that are already hampering auto sales, this is really going to hurt the USA auto industry until they re-shore production. May get bad enough that they ask for bailouts.... and probably get them.
Current outlook: bad with a small possibility of apocalypse
Alternate scenario: Americans stop buying friggin' huge cars
I'm guessing europe has some safety standards too
, and despite that they're already selling here also.hillslayer@
100 W
Sure, it could get worse. But hyperinflation means >50% inflation per month.
So what you're saying is that you think the trade war will destroy the global economy - nobody will intervene or stop the war, see ya later, civilization?
That's the goal right, if there a different one what is it.I'm guessing europe has some safety standards too
I'm guessing europe has some safety standards too
European safety standards and USA safety standards differ quite a bit though.
Meet USA standards and your prices are going way up.
Just another hurdle in front of China selling us cars.
This is a big reason why Japanese automakers make a US specific version of most cars. Too expensive and complicated to make one car that complies to all markets.
Sure seems like it. 100% tariff on Chinese EVs! That is the real reason for no Chinese EVs in the US. No way to overcome that steep financial barrier.
Not so sure anymore.
At least some Chinese models are already crashtest-rated in the same ballpark as some premium European brands:
Chinese SUV Beats Porsche Macan To Become Euro NCAP's Safest EV In 2024 | Carscoops
The Zeekr X impressed with its high safety scores, although the best overall performer of the year was the Mercedes-Benz E-Class
www.carscoops.com
If I could afford and rationalize a chauffeur, I'd be mighty tempted to commute in one of these (Zeekr 009 Grand extreme luxury MPV):
Especially if that is a massage chair!
Surprised they're able to pass the NCAP, that's also strict relative to world standards.
That's insane!
If I could afford and rationalize a chauffeur, I'd be mighty tempted to commute in one of these (Zeekr 009 Grand extreme luxury MPV):
Especially if that is a massage chair!
That's insane!
Okay, following this from a legal-financial standpoint is a huge pain in the ass, seems like it changes every day.
Our government is acting like a cat who is confused on whether it wants in or out the door.
Anyway..
https://www.cnbc.com/2025/03/04/trump-tariff-compromise-canada-mexico-commerce-lutnick.html
The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added.
Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war.
After his remarks, U.S. stock futures tied to all three major averages rose.
On this note, i have a number of clients in the financial sector and regardless of their partisan leaning, they're all terrified of what the trade war could unleash on the economy.. so.. at least there's a lot of pushback from them in government land.
Our government is acting like a cat who is confused on whether it wants in or out the door.
Anyway..
https://www.cnbc.com/2025/03/04/trump-tariff-compromise-canada-mexico-commerce-lutnick.html
The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added.
Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war.
After his remarks, U.S. stock futures tied to all three major averages rose.
On this note, i have a number of clients in the financial sector and regardless of their partisan leaning, they're all terrified of what the trade war could unleash on the economy.. so.. at least there's a lot of pushback from them in government land.
hillslayer@
100 W
All the insider's are getting richer every time dingdong supposedly changes his mind. Anybody who thinks this isn't intentional is living in lala land.
aroundqube
10 kW
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Congresswoman introduces legislation to close de minimis loophole
WASHINGTON (BRAIN) — Rep. Linda Sánchez on Tuesday introduced legislation to close the de minimus loophole that allows the duty-free importation of packages valued at under $800.
www.bicycleretailer.com
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