Comment on New modelling reveals full impact of Trump’s ‘Liberation Day’ tariffs – with the US hit hardest
Sanctus@lemmy.world 2 months ago
Fuck
> Fuck
That’s an understatement, more like
Forget about a recession, the U.S. is headed directly towards a possible depression and bringing Canada down with it if those numbers are even remotely true. That’s almost 1-2 months salary wiped out for 1/3 of households in the US when most of those people are living paycheck to paycheck.
Aha! Trump is secretly doing the bidding of the Kiwis! No, not New Zealanders, not even the bird… it’s the fruit’s fault!
I don’t understand why some countries get a gain from additional tariffs.
The article doesn’t explain the mechanism.
Some nations gain from the trade war. Typically, these face relatively low US tariffs (and consequently also impose relatively low tariffs on US goods). New Zealand (0.29%) and Brazil (0.28%) experience the largest increases in GDP. New Zealand households are better off by $397 per year.
My unfounded guess is that they sell products that normally compete with a soon to be crippled US market, so their products can fill the void. Think car sales from China to the EU after the tarrifs cripple manufacturing, for example.
Australia’s top 3 export markets are China, South Korea and Japan. If they put retaliatory tariffs on the US we could pick up extra business as we will have a price advantage. When the US duped our old conservative PM, Scummo, into pissing of China they put up trade barriers and our “mates” including Canada, NZ and USA all gained at our expense. It’s nothing personal.
We don’t export much to the US and 10% is as low as it goes. It’s a tax on US consumers.
Also Australia is actually trading at a deficit with the USA. We buy way more from them than they buy from us. Which shows this narrative of Trump to reduce the trade deficit is bullshit.
For this reason though I don’t think Australia will do retaliatory tariffs. Why hurt ourselves more when the USA is less than 5% of our exports?
Is country A is tariff 20% and country B is tariff 10%; that mean country B have an advantage against country A and can get some of the marked A is loosing.
Maybe they already had some sort of tariff? Maybe it modifies the existing trade deal somehow? Idk I’m not an economist just a peasant.
Does Russia not get hit? Interesting.
Aside from fossil fuels, they mostly only trade with China, right? They’re kinda “isolated” like North Korea.
With a whole shit ton of sanctions. Still interesting that they’re not getting hit by this, whatever the reasons.
Can’t be hit when you aren’t even trading. They’ll probably see video games vet more expensive on Steam
taldennz@lemmy.nz 2 months ago
If we’re very quiet precious, my love, maybe he won’t notice us down here near the bottom of the table.