Trump ran on this, trade imbalance, and reciprocal taxes. Now that he’s talking about it, many are getting increasingly uncomfortable.
The EU responded by saying they would heavily tax imports of Harleys, *bourbon whiskey, and Levis (as if they don’t already.)
They chose these specific product in order to zetz Paul Ryan (Harley-Davidson is in Wisconsin), Mitch McConnell (distilleries in West Virginia), and Nancy Pelosi (Levis is in San Francisco.)
…in a tweet Friday morning, Trump doubled-down and warned of more trade actions ahead, casting them as reciprocal taxes, a term he has used for imposing levies on imports from countries that charge higher duties on U.S. goods than the U.S. currently charges.
“We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice!” Trump said in the tweet.
On Saturday, Trump’s resolve appears only to be hardened. For one, Trump’s newly reincarnated foreign trade advisor said that the tariffs will likely be signed early next week. On Friday, Navarro also made clear that there wouldn’t be any exemptions, for either Canada or other US allies:
“I don’t believe any country in the world is going to retaliate for the simple reason we are the most lucrative and biggest market in the world,” Navarro told Fox News Friday. “They know they’re cheating us. All we’re doing is standing up for ourselves.”
*earlier version incorrectly stated Jack Daniels
Paul Ryan, Mitch McConnell, Nancy Pelosi. Meh. Let the Euro-weenies tax them and whomever put them in office up the arse. On our side of the pond, us right thinking people would like to give them a neck-tie party!!
Jack Daniel’s is in Tenn.
Every time a European colleague of mine comes to the U.S. they always want to shop… why are clothes cheaper here than in Europe even though they’re all made in Asia? Oh Yeah, cuz they tax the shit out of it and we don’t. Heaven forbid we protect our industries for a change…. why can’t boeing break into the European market? Why can’t General Motors? Because Europe is smart enough to protect Air Bus and Mercedes.
In the past the US has negotiated away our jobs, manufacturing industry and wealth.
If Trump doesn’t stand up for the US, who will? Ryan, McCONnell, Schumer, the EU or China??
I give Trump free reign knowing what this country would be if the liberals were in control.
I think there’s a lot more to this than first meets the eye. Trump isn’t Herbert Hoover and this isn’t Smoot-Hawley. The press has no clue as to how a actual man conducts the Presidency. There’s an Art Of The Deal set-up going on here. There’s a lot more to this than tariffs and trade.
That’s why I ride my Harley drunk on Jack Daniels and wearing Levis.
I listened to the dumb ass Globalists on the MSM talk circus this morning. The WORST was Fox News Sunday. They can put up all the dumb ass charts and graphs they want, but we are swimming in Chinese and Korean metal. I know, I order it and see the certifications. Those charts are bull shit. Like I’ve said here before finding DFARS compliant high nickel content alloys (high temp metals that go into jet engines) is a struggle.
These trade in balances are responsible for the loss of a shit load of high paying jobs. Keep it up Mr. President. Don’t listen to the Wall Street crowd.
@Brad
I have seen certs from Chinese suppliers that flat out lied on their alloying content and heat treatment. This leads to defective products and, in some cases, unsafe final product.
Jethro
Happens all the time with aluminum. Particularly 7075 and 2024. And aluminum is exempt from DFARS. A couple years back a bunch of people went to jail over some Chinese Titanium that was falsely certified.
I like this one . https://legalinsurrection.com/2018/03/trump-jokes-about-maxine-waters-needing-an-iq-test-at-gridiron-dinner/
@Bad_Brad
“Don’t listen to the Wall Street crowd.”
Truer words are never spoken! Banksters owe allegiance to no God or Country!
I love Nevarro and Wilbur. Of course PDJT tops the list.
Yeah, but he’s making all he right people nervous and that’s a good thing. It must be awful for the Left to come to the realization that POTUS Trump isn’t stupid — he’s doing all this stuff on purpose. I hope they’re a little quicker to realize this than the Right was in figuring out obama.
Well, speaking for Canada the trade deficit is about 3% in favour of Canada on almost 600 billion dollars in total trade and most of the deficit is the export of crude petroleum to the US for refining. By treaty Canada is not allowed to charge the US any differently then what it charges Canadian clients for crude. I’m not sure there are any deals to be made. There are tariffs on steel and aluminum going into place but I gather that most of the steel shipped to the states is from American owned companies operating in Canada. Canada is America’s largest customer by a bunch so it will be interesting to see what happens. Too bad for us our frontman is Trudeau the Younger. Crap!
fyi:
https://www.thebalance.com/trade-deficit-by-county-3306264
Levis, whiskey and Harley Davidsons? What are they trying to do, run all the bikers out of Europe?
Levi’s spends it’s profits on anti-gun efforts.
No thank you. FOADIAF. Haven’t worn you since the 70s.