News US Economy : News, Updates & Discussions
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To put in dummy terms sweetie, there was a world before the USD took centre stage, there'd be a world after the USD has departed from the center stage too. Just look at UK & France today. Last century this time they were the reigning super powers of the world with the US being one among the other lesser powers like Japan Italy & fallen ones who'd rise in less than 2 decades like Germany & USSR .Global Currency: The Dollar Ain't Going Nowhere
"No shortage of people who are anti-American, can't do math and have no sense of history."
Hence the question you really ought to be asking yourself is when not if, sweetie? But if you knew that much you wouldn't be where you are & what you are, would you now?
US economy is being quite hilarious nowadays. It'd be funnier if the US weren't so important in global trade, as their self-inflicted national suicide is dragging down the rest of the world, too. But they're still the ones who will get hurt the most, as they are at the epicenter of economic illiteracy. US trade policies is dictated by a quack with a sockpuppet. Trump is a demented, senile moron who does whatever he wants with no regard to consequences. The entire cabinet is made of blind loyalists and opportunists, and they made sure to exclude anyone who had either a spine or an education. It's not 5D chess, it's just pure incompetence.
A few random observation: adding territories like the Heard and McDonald Islands to the list has been said to be to "close loopholes" that people could use to avoid tariffs. That's bullcrap, however, and just a post-hoc attempt at rationalizing their stupidity. Heard and McDonald Islands are not independent territories which could be used to bypass tariffs, they're part of Australia and any company pretending to import stuff from there would be subject to the same tariffs as Australia.
The loophole explanation further falls apart when you look at other territories that they have singled out. So the European Union gets 20% tariffs. However, some of the Outermost Regions and Overseas Countries and Territories of the European Union get their own tariff listing that is lower. Many are in the 10% club. And so are Andorra, Monaco, and San Marino, microstates that, while they are not part of the European Union, are fully integrated with it regardless. They're in the eurozone, they're in Schengen, they're in the customs union. If it were possible to dodge tariffs by "exporting from" Heard and McDonald, which would purely be an administrative fiction as there's absolutely no infrastructure on the ground to actually have transport ships going there, then it would be possible to do that through one of those microstates.
The loophole justification is further invalidated by the simple fact that the biggest economic rival of the USA, China, hit with 104% tariffs, can simply export "through" their neighbors like Russia or North Korea, which Agent Krasnov has very helpfully spared from any tariff whatsoever, not even the 10% minimum applied to everybody else, including the US military base at Diego Garcia. They can dodge 104% tariff by simply pretending to export from Pyongyang or Vladivostok. Maybe put some "на Вашингтон" stickers on them to make the illusion complete.
A few random observation: adding territories like the Heard and McDonald Islands to the list has been said to be to "close loopholes" that people could use to avoid tariffs. That's bullcrap, however, and just a post-hoc attempt at rationalizing their stupidity. Heard and McDonald Islands are not independent territories which could be used to bypass tariffs, they're part of Australia and any company pretending to import stuff from there would be subject to the same tariffs as Australia.
The loophole explanation further falls apart when you look at other territories that they have singled out. So the European Union gets 20% tariffs. However, some of the Outermost Regions and Overseas Countries and Territories of the European Union get their own tariff listing that is lower. Many are in the 10% club. And so are Andorra, Monaco, and San Marino, microstates that, while they are not part of the European Union, are fully integrated with it regardless. They're in the eurozone, they're in Schengen, they're in the customs union. If it were possible to dodge tariffs by "exporting from" Heard and McDonald, which would purely be an administrative fiction as there's absolutely no infrastructure on the ground to actually have transport ships going there, then it would be possible to do that through one of those microstates.
The loophole justification is further invalidated by the simple fact that the biggest economic rival of the USA, China, hit with 104% tariffs, can simply export "through" their neighbors like Russia or North Korea, which Agent Krasnov has very helpfully spared from any tariff whatsoever, not even the 10% minimum applied to everybody else, including the US military base at Diego Garcia. They can dodge 104% tariff by simply pretending to export from Pyongyang or Vladivostok. Maybe put some "на Вашингтон" stickers on them to make the illusion complete.
Econ 101: Who pays for the Tariffs?
www.bbc.com
US President Donald Trump has announced a 35% tariff on Canada from 1 August. He also announced new tariff rates for dozens of countries that will come into effect on 7 August.
Since returning to office in January, Trump has introduced a series of these import taxes, and threatened many more. He argues that the tariffs boost American manufacturing and protect jobs.
However, his volatile international trade policy has thrown the world economy into chaos, and a number of firms have increased prices for US consumers as a result.
What are tariffs, how do they work and why is Trump using them?
Trump's volatile trade policy has thrown the world economy into chaos, and put some US prices up.
www.bbc.com
US President Donald Trump has announced a 35% tariff on Canada from 1 August. He also announced new tariff rates for dozens of countries that will come into effect on 7 August.
Since returning to office in January, Trump has introduced a series of these import taxes, and threatened many more. He argues that the tariffs boost American manufacturing and protect jobs.
However, his volatile international trade policy has thrown the world economy into chaos, and a number of firms have increased prices for US consumers as a result.
'Bringing billions... Addictive': Trump's tariffs are making money, hard to quit
US Tariff Strategy: Trump's import taxes are generating massive revenue, complicating future rollback plans despite consumer cost concerns and economic risks.
www.deccanherald.com
While generating revenue, Trump's tariffs have raised costs across the economy, driven up prices for consumers, and negatively impacted key industries. The administration is even considering sending rebate checks to Americans paid for by tariff revenue, acknowledging the burden these policies place on consumers
President Donald Trump sacked the head of the government agency that produces the monthly jobs report, expanding his offensive against independent chiefs responsible for producing critical information on the U.S. economy.
He said data is being manipulated and fired the labor commissioner, then blamed powel for job losses for not cutting rates!
There is no written agreement yet on a trade deal between South Korea and the United States announced by President Donald Trump this week, the Asian nation’s trade minister said on Friday.
The U.S. tariff on South Korean imports will be 15%, Trump said after meeting its ministers on Wednesday, down from a threatened 25%, but the U.S. gave scarce details, apart from social media posts by him and Commerce Secretary Howard Lutnick.