US Tariffs/Trade War VS the World

Forum » Beenos Trumpet » US Tariffs/Trade War VS the World

Nov 17, 2024, 20:49

Trump's Make America Great Again is giving the world an ultimatum of a trade war or accept their terms of paying tariffs of 10-20%.

Much of the world has been in a free trade agreement or free market capitalism which Trump wants to end. 

A few problems have arisen with this agreement- before, during and even after Trump first term.

1. China wants to access the global market while applying protectionism to the Chinese economy and also blocking certain industries from having any foothold in China.
Protectionism could be tax codes or investment, or some form of government ownership (non-private sector).

2. Manufacturing has been outsourced to China, but now China is getting better at manufacturing than any country - bar the US for some product types. This has created a decline in certain job types in the West. Some people are going to be more suited to office jobs, but others will be more suited to manufacturing, engineering etc- so there are fewer opportunities for certain types of people. 


3. Outsourcing production and even service-based jobs from the West to countries in the East has increased. This now spans most types of jobs. This has changed the dynamics of supply/demand to determine wage growth and the number of jobs. This may have had the effect of a shrinking middle class.

4. Competition is decreasing instead of increasing from globalisation. The computer industry especially suffers from this when direct competitors merge, or bigger players just copy the IP of a smaller inventor.  This has made shareholders richer than ever before. This has created the mega-class Silicon Valley oligarchs with an ego that mankind has never seen before. So the US wants a free market - but with as little competition as possible as long as they are US companies. (Which is contrary to a free market system that has the power checks of competition and choice). 

5. Trump enters politics to win the presidency in 2016 campaigning on bringing jobs back to America (e.g. reducing off-shoring of jobs). Trump suggests practices which are contrary to the free market and more in line with China's double-handed practices.

The rise of MAGA a working class movement that wants to take on the establishment, and Trump is the only alternative. 

6. Biden takes office and continues these protectionist practices, and even introduces new ones- while still wanting to access the global "free" market. 

7. Trump threatens the world before taking office for a 2nd term with tariffs of 10-20%. He said that any country that introduces counter-tariffs will be punished with even higher tariffs. 

Trump's team are speaking to the UK about a deal - saying they have to choose between the "socialist" EU or the free-trade US.

This just equates to US companies being able to sell into the UK market to reduce competition, and offshore jobs to the East. 
Trump is also complaining about VAT, but the US does also have income tax albeit lower. But there are other taxes that people pay anyway, it all ends up in the same pot.

It is pretty obvious that if Trump is forcing the UK to choose between the EU and the US, it is better to stick with the EU-  perhaps even rejoining the EU in the longer term.

This is not the same America of the 20th century. It is now owned by the Silicon Valley Cabal and their populist president. It might just be best to match the Trump tariffs and just allow the trade war to happen.
Another option is buying more from China, but that is hardly the ideal solution either.


Nov 18, 2024, 18:13

A laod of BS galore.  To dehumanized people and made them slaes of he Government depending on handouts is BS and that is what is advocated above,   

So proting WW3 is part o your beleie in the hope tat the World ppulation be redced to 500 million people is what you advocate?   

So whatver opinion is fed into ChatGP is now the only thing that you come up with,    What a bloody fool we hv here,\  

Nov 18, 2024, 18:59

Fuel prices has been dropping for 2 months already...price of cheese will surely follow...here's hoping beer prices can dip too...

Nov 19, 2024, 10:47

price of cheese will surely follow

Never knew a person so obsessed with the price of cheese, must be some addiction you have :D


Nov 19, 2024, 13:38

It's a juvenile private joke...but actually more to do with climate politics in the Netherlands than anything in the USA...I'm just being silly. 

 
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