Wednesday, November 27, 2024

How Your Wallet Could Be Impacted ...

Dueling tariffs between the United States and Mexico could mean higher prices for American consumers. Mexican President Claudia Sheinbaum signaled Tuesday that she was willing to go tit-for-tat if U.S. President-elect Donald Trump follows through on his plans to raise tariffs on America's neighbors.

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... "One tariff would be followed by another in response, and so on until we put at risk common businesses," Sheinbaum said.

Some in Trump's world think he's using tariffs as a bargaining chip, but Sheinbaum's warning suggests Mexico has no plans to play nice and that Trump's dealings with the country will be much more tense than they were when Andrs Manuel Lpez Obrador was in office at the same time as Trump.

Trump's proposed tariffs on Mexico, Canada, China

Trump announced Monday that he would raise a 25 percent tariff on all products coming from Mexico and Canada if the two countries do not stop the flow of drugs and migrants across borders. He also announced a 10 percent tariff on goods from China. ...


#1 | Posted by LampLighter at 2024-11-27 01:46 AM

How many migrants come across the US-Canadian border?


Is Pres-elect Trump just blowing smoke up your anal pore about that?

#2 | Posted by LampLighter at 2024-11-27 01:47 AM

More to the point of the article...

... Last year, Mexico emerged as America's largest trading partner, eclipsing Canada and China. In 2023, the U.S. and Mexico exchanged nearly $798 billion in goods and services.

"The U.S. market and the Mexican market are actually not separate markets," Raymond Robertson, the director of Texas A&M University's Mosbacher Institute for Trade, Economics, and Public Policy, previously told Newsweek.

"There's a single labor market, there's a single studies market, single energy market; they're not separate markets. So, these tariffs on Mexico are a lot like putting tariffs on California...it's not good for our consumers."

Seven major industries, including auto, agriculture, electronics, mineral fuels, plastics, machinery and aluminum and steel, will be the hardest hit by tariffs between the two countries.

Small business owners have warned that the tariffs could be "devastating" for Americans. Fourth-generation farmer Joe Maxwell of Missouri told Newsweek that the tariffs would widely hurt American farms, which would have to pay more for items like nitrogen fertilizers.

"I'll explain one thing everybody in this country needs to know: If the president [Trump], and I'm certain that he will, fulfills his commitment to increase tariffs up to 20 percent across the board, 60 percent on China, 200 percent on John Deere manufactured in Mexico, then we're going to pay more than just to put this in the consumers' stores," Maxwell said. ...


#3 | Posted by LampLighter at 2024-11-27 01:50 AM

It's going to take a major hit. Bank on it. Well you won't be able to bank on it because you won't have any money to bank.

#4 | Posted by LauraMohr at 2024-11-27 02:06 AM

@#4

OK, my view at this point...

Pres-elect Trump is just laying down his opening salvo regarding tariffs.

All his posturing of "across the board" may be enacted initially for his benefit.

But what will really matter is what Pres-elect Trump does on the longer term.

The transactional ~art of the deal~ to benefit him. Not the long term benefit to the United States.

What will be the transactional deal he gets from tariffs?

Will he reduce the tariffs on the imported goods that are needed by corporations (a.k.a., wealthy people) who supply him with money?


How much leeway does a President have in setting tariffs?

Can a President use tariffs for his own advantage?


#5 | Posted by LampLighter at 2024-11-27 02:49 AM

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