Friday, September 27, 2024

Trump Threatens John Deere with 200% Tariffs

Donald Trump said on Monday he would slap a 200% tariff on John Deere's (DE.N), opens new tab imports into the United States if the company moved production to Mexico as planned, comments that hit the agricultural equipment manufacturer's share price.

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... Earlier this year, John Deere announced that it was laying off hundreds of employees in the Midwest and increasing its production capacity in Mexico, a decision that upset workers and some political leaders.

"As you know, they've announced a few days ago that they are going to move a lot of their manufacturing business to Mexico," Trump said at an event held in western Pennsylvania. "I am just notifying John Deere right now that if you do that, we are putting a 200% tariff on everything that you want to sell into the United States."

The Republican presidential candidate has frequently said he would slap automakers that move their production to Mexico with a 200% tariff, but this appears to be the first time he has extended that threat to an agricultural equipment company. ...



#1 | Posted by LampLighter at 2024-09-26 02:17 PM

Economic concepts of a policy from a guy who went belly-up running a gambling den, even before he went senile.

#2 | Posted by Doc_Sarvis at 2024-09-26 02:21 PM

That fat ------- dolt can shut the ---- up.

#3 | Posted by LegallyYourDead at 2024-09-26 04:32 PM

John deer better get in line

- - "small government", "don't tread on me" magats

#4 | Posted by ChiefTutMoses at 2024-09-26 06:47 PM

Tariffs get passed onto the consumer.

Who uses John Deere the most?

Farmers.

If they have to pay more for equipment, guess where the money is coming from.

People buying groceries.

Bravo, Trump, bravo.

#5 | Posted by ClownShack at 2024-09-26 06:49 PM

@35 ... Tariffs get passed onto the consumer. ...

Yup. Absolutely.

Though, fmr Pres Trump in his speeches and interviews incorrectly seems to assert that tariffs are paid for by the country they are levied against.

That is wrong on a couple of levels.

First, tariffs are not levied against countries, but against certain goods from countries.

Second, and this is the important one, the cost of tariffs are just passed along to consumers. Tariffs are quite similar to a tax on goods.

So, a general question ... with all the talk of tariffs that fmr Pres Trump spouts in his rally speeches, how does he balance the cost of those tariffs being passed on to consumers with his comments about lowering inflation?

Now, more specifically, why is fmr Pres Trump going after farmers, causing them to pay more for the equipment they need to feed the Country? And, as a follow-up, will those increased costs of farm equipment find their way into the supermarkets?


#6 | Posted by LampLighter at 2024-09-26 07:08 PM

Reporter: How will you lower prices?

Trump: By raising prices.

Slurpers: 4D Chess!

#7 | Posted by Danforth at 2024-09-26 07:14 PM

So, a general question ... with all the talk of tariffs that fmr Pres Trump spouts in his rally speeches, how does he balance the cost of those tariffs being passed on to consumers with his comments about lowering inflation?

He doesn't. It's that simple. In Trump's reality, tariffs are paid by foreign manufacturers, not American consumers and no one is going to change his mind on that. So his inability to tie higher domestic prices for goods to inflation is simply another liberal plot or fake news, no more no less.

This is why criticisms of Harris are so maddening. Trump talks complete gibberish or creates his own reality that doesn't exist, yet it's Harris who can't verbally communicate effectively according to our resident gaslighting champion.

If Trump and Trumpers didn't have projection, they'd never gained any political traction whatsoever. Whatever the accuse Democrats of doing is the very thing they're doing in spades.

#8 | Posted by tonyroma at 2024-09-26 07:16 PM

What is the current tariff on a tractor that's imported into the USA for sale?

#9 | Posted by eberly at 2024-09-26 07:21 PM

Im not a farmer but have had many John Deere over the years such as 45hp 72 inch mm mower and TLB and lesser sizes. These are needed aids for larger size properties and business not farms that need much larger such tools.

Deere needs taught a lesson to support USA just as GM did.

#10 | Posted by Robson at 2024-09-26 07:24 PM

#9

My guess would be zero if they're coming from Mexico due to NAFTA.

#11 | Posted by tonyroma at 2024-09-26 07:27 PM

12-28 % depending on the size.

#12 | Posted by Alexandrite at 2024-09-26 07:28 PM

Thanks for the responses. The president can't just do this....doesn't this have to run through congress?

#13 | Posted by eberly at 2024-09-26 07:35 PM

Eberly is confident the depraved GOP won't go along with it

#14 | Posted by ChiefTutMoses at 2024-09-26 09:42 PM

@#10 ... Im not a farmer but have had many John Deere over the years ...

So, you've had "many John Deere" over the year.

That sounds like a robot response.

What else yer got?


#15 | Posted by LampLighter at 2024-09-26 09:53 PM

@#7 ... Reporter: How will you lower prices?

Trump: By raising prices.

Slurpers: 4D Chess! ...

Bingo.

When fmr Pres Trump speaks of tariffs, he is saying he wants to raise prices. But, how does that relate to his assertion of lowering prices?

Oddly, coincidentally, this ancient song just popped up on the playlist here...

Doors - The End
www.youtube.com


#16 | Posted by LampLighter at 2024-09-26 09:59 PM

I maintained 50 acres for over 30 years and only went through two riding mowers and one kubota tractor
Robson is full of cow manure

#17 | Posted by ChiefTutMoses at 2024-09-26 10:00 PM

Im not a farmer

You sure do spread a lot of manure for "not a farmer".

#18 | Posted by Nixon at 2024-09-27 11:09 AM

If they have to pay more...
#5 | Posted by ClownShack

Why would they have to pay more if the plant stays in the US? Is John Deere going bankrupt? Are they making a profit now? The only reason I see for them to move to Mexico or to raise prices is to increase profits.
If it's cheaper to make their stuff in Mexico, will they lower prices?

#19 | Posted by TFDNihilist at 2024-09-27 08:19 PM

It's honestly not a bad idea.

The point isn't to raise the prices on their crappy software locked gear. It's to keep them making it in the US. It's saying "If you destroy these US jobs, you're going to go out of business because NOBODY is going to buy your stuff, they'll pick another manufacturer."

John Deere is big, but they ain't a monopoly. And if they're looking at a giant tariff targeted directly and only at them, they'll cave.

And it's something that should have been done back in the '80s, to all kinds of companies. "If you move manufacturing out of the US, you're going to be hit with GIANT tariffs. Do the same thing for outsourcing services, hit companies that decide a call center in India is a good idea with big tax penalties, big enough to cover all the money they saved, and all the money that their US employees would have paid in taxes, and then double it.

I'd love to see the tech industry hit with it. You can't just slap the high tariffs on them all at once, of course. But if you start gradually, maybe just a few percent increase every year that they're still outsourcing manufacturing to China, maybe Apple will see that the only way forward is to reopen that factory in Freemont.

Maybe tariffs aren't the right tax to use, perhaps a 200% corporate income tax would be more effective. They can even choose to get out of that, if they spend all of what would have been profits for a few years building a US supply chain they won't have to pay it.

#20 | Posted by DarkVader at 2024-09-28 12:02 AM

"They can even choose to get out of that, if they spend all of what would have been profits for a few years building a US supply chain they won't have to pay it."

OMG! Is FDR posting from his grave? Oh wait, FDR is one of them thar Democratic Communists!

#21 | Posted by danni at 2024-09-28 09:20 AM

Fact: Global companies employ more American workers than domestic manufacturers. Americans who need tractors will buy tractors; if you put a 200% tariff on tractors made in
Mexicico then they'll buy tractors from somewhere else and not necessarily in the U.S.

Donald Trump making strategy for the American economy is just utter nonsense. He has no idea what he is taling about. He just spews words but doesn't have any actual thoughts behind them. SENILE OLD MAN!

#22 | Posted by danni at 2024-09-28 09:28 AM

The rest of the civilized world is either laughing at us or shaking their heads.

#23 | Posted by e1g1 at 2024-09-28 01:11 PM

#10

OMG you are soooo Marxist.

Who pays import tariffs, by the way?

#24 | Posted by anton at 2024-09-28 05:58 PM

@#20 ... The point isn't to raise the prices on their crappy software locked gear. It's to keep them making it in the US. It's saying "If you destroy these US jobs, you're going to go out of business because NOBODY is going to buy your stuff, they'll pick another manufacturer." ...

Ya know, in some respects I do not disagree.

However, like every policy decision, this one has ramifications.

Fmr Pres Trump is saying that he wants to raise tariffs on the equipment farmers buy.

Those tariffs are then passed along as the cost of goods the farmers deliver to stores.

So, consumers then pay more for food.

OK, how does all this correlate with fmr Pres Trump's comments that he will lower inflation should he be elected?


Stated differently, why do fmr Pres Trump's policy assertions seem to have major conflicts with themselves??

Didn't he even take a minute or two to think them through?


#25 | Posted by LampLighter at 2024-09-28 10:31 PM

OK, how does all this correlate with fmr Pres Trump's comments that he will lower inflation should he be elected?

Easy. Don't forget he has no intention of actually doing anything he says he's going to do.

#26 | Posted by REDIAL at 2024-09-28 10:39 PM

@#26 ... Don't forget he has no intention of actually doing anything he says he's going to do. ...

Oh, I disagree.

Based upon his prior term, he may try to use the DoJ against his perceived Democrat enemies.

William P. Barr to depart as attorney general, Trump announces (2020)
www.washingtonpost.com

... William P. Barr is stepping down as attorney general, ending a controversial tenure in which critics say he repeatedly used the Justice Department to aid President Trump's allies, only to have Trump turn on him when he did not announce investigations of political foes and disputed White House claims of widespread election fraud. ...

#27 | Posted by LampLighter at 2024-09-28 11:44 PM

No tariff if you donate to me.

DJT

#28 | Posted by bat4255 at 2024-09-29 01:21 PM

Tariffs are an excellent market leveling tool. Yes prices will likely rise, but if we keep manufacturing in the United States by removing the ability to make and sell cheaper by fleeing your jobs to other countries, the Net to the country is heavily into the win column.

Provided the tariffs are targeted, well thought out, and judiciously implemented.

#29 | Posted by ABH at 2024-09-29 05:03 PM

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