Menu
Sister Sites

  • In 2002, President Bush Imposed 30% Steel Tariffs; This Is What Happened Next

    From zerohedge.com

    In an eerie analogue of what is about to take place, on March 5, 2002 President George W. Bush imposed tariffs as high as 30% on global steel imports. The temporary tariffs of 8–30% were originally scheduled to remain in effect until 2005. They were imposed to give U.S. steel makers protection from what a U.S. probe determined was a detrimental surge in steel imports, as more than 30 steel makers had recently declared bankruptcy. Canada and Mexico were exempt from the tariffs because of penalties the United States would face under NAFTA. Additionally, some developing countries such as Argentina, Thailand, and ... (full story)

There won't be any tariffs. Too many people in Trump’s circle against it. No Democrat, few Republicans in favour. My bet is next week Trump will withdraw from his ideas.
If Trump really, really presses this, he's gonna be impeached before he realizes it.
Proud to be a EU citizen, according to the article already back in 2003 the EU saved the world from America's leftist practices and almost killed the S&P. Jolly good stuff.

Not that anybody thanked us for it, but this time the great Eurasian partners the EU and China should do it together and teach them that we don't appreciate these dirty socialist practices.
Quoting barkie
Proud to be a EU citizen, according to the article already back in 2003 the EU saved the world from America's leftist practices and almost killed the S&P. Jolly good stuff. Not that anybody thanked us for it, but this time the great Eurasian partners the EU and China should do it together and teach them that we don't appreciate these dirty socialist practices.
Barkie, you're pro EU which operates the biggest protection racket ever, yet you slam others who dare touch on the same?
Quoting jen101
{quote} Barkie, you're pro EU which operates the biggest protection racket ever, yet you slam others who dare touch on the same?

Not at all Jen, the EU is wide open and the LEAST protectionist of the larger countries, take a look and enlighten yourself.

http://blogs.lse.ac.uk/europpblog/fi...017figure2.png
http://blogs.lse.ac.uk/europpblog/fi...017figure1.png
http://blogs.lse.ac.uk/europpblog/fi...017figure4.png
Quoting raklian
If Trump really, really presses this, he's gonna be impeached before he realizes it.



ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
Quoting barkie
{quote} Not at all Jen, the EU is wide open and the LEAST protectionist of the larger countries, take a look and enlighten yourself. http://blogs.lse.ac.uk/europpblog/fi...017figure2.png http://blogs.lse.ac.uk/europpblog/fi...017figure2.png http://blogs.lse.ac.uk/europpblog/fi...017figure4.png
To a point if you only look at tariffs. Though that is very short sighted.

The very un-British (although, we should add, extremely Corbynite) practice of making life harder for global exporters to enter your market goes way beyond tariffs. According to the World Bank, the EU's average weighted tariff is only 1.6%, the same as the United States'.

Regulations, otherwise known as non-tariff barriers, are the EU's preferred instrument of protectionism. The EU's market building playbook is inspired by the French habit of legislating the hell out of everything. One of the problems encountered by British negotiators in Brussels is EU bureaucrats' preoccupation with rules and process. The obsessive need for the Prime Minister to provide a signed document re-pledging the eye-watering funds already promised in Florence is a notable example.

By contrast, the British economy, and the American one for that matter, is largely managed via hands-on regulators and guidelines, rather one size fits all rules that punish smaller or less conventional businesses. Take financial services. In the aftermath of the crisis, the EU, under the purview of Michel Barnier no less, spat out reams of new legislation while tightening up existing ones. Meanwhile, the UK re-hauled its regulatory apparatus, building new institutions and procedures to check in on financial institutions and examine their exposure to risk. The EU prefers to rain down rules from above and sit back, allowing potential profits to be foregone at the better run institutions and for risk to metastasise at the dodgy banks and building societies with a knack for exploiting loopholes.

Source: https://leave.eu/uncle-sam-teaches-u...protectionism/
Quoting jen101
{quote} To a point if you only look at tariffs. Though that is very short sighted. The very un-British (although, we should add, extremely Corbynite) practice of making life harder for global exporters to enter your market goes way beyond tariffs. According to the World Bank, the EU's average weighted tariff is only 1.6%, the same as the United States'. Regulations, otherwise known as non-tariff barriers, are the EU's preferred instrument of protectionism. The EU's market building playbook is inspired by the French habit of legislating the hell...
Well, then how come that a whole bunch of EU countries who are all bound by EU regulation are less protectionist than the US in terms of regulation as well as tariffs?

http://blogs.lse.ac.uk/europpblog/files/2017/08/mvaugust2017figure4.png
Quoting JakubSzalaFX
There won't be any tariffs. Too many people in Trump’s circle against it. No Democrat, few Republicans in favour. My bet is next week Trump will withdraw from his ideas.
Has anyone else noticed Trump makes these announcements, moves markets, then retracts the announcement. Too often. I smell insider trading.
Quoting barkie
{quote} Well, then how come that a whole bunch of EU countries who are all bound by EU regulation are less protectionist than the US in terms of regulation as well as tariffs? http://blogs.lse.ac.uk/europpblog/files/2017/08/mvaugust2017figure4.png
How do you quantify the impact of certain regulations? What does that chart show, the number of regulations? Means nothing.
I swear everyone knows the effect yet somehow the people in charge are either too corrupt or too stupid to know it... if everyone followed science and history most of the debates would end, the solution clear.

But it would also end any reason for Conservatives to exist so.... forward we go, denying the obvious.
Free market, anybody? :-D
lol those materials always come from American which is Argentina and Brazil , also USA. So tariffs only works for low countries that trying to access , thats alll !!!!

nothing else !!!!!!!!!!!
Quoting barkie
{quote} the EU is wide open and the LEAST protectionist of the larger countries
Right.

I ordered a specialist book for my sister-in-law from Amazon US. I would not only need to pay ~40% more, but also spend God knows how much time clearing the customs. And it is a freaking BOOK.
(In the end, after finding this out, I had the book returned by the shipping company, and she later found a distributor of the book in the UK.)

I guess it could be worse though. One guy from a certain Balkan non-EU country was ordering stuff from China. The problem occurred when the customs demanded a stamp for the import forms from the company. Chinese companies, existing in the 21st century, do not use stamps anymore. Since there was danger that he could not get the stuff he ordered, the guy came up with a creative solution. He found online a stamp used during the Ming dynasty. He then scanned the import document, superimposed the imperial stamp onto the document and printed the new document, which satisfied the customs...

Cheers,
k
Quoting jen101
{quote} How do you quantify the impact of certain regulations? What does that chart show, the number of regulations? Means nothing.
These OECD indicators measure the relative restrictiveness of product market regulations including rules that limit competition, but they mean nothing to you ? LOL

And BTW dear Jen, if the EU is such a protectionist and regulatory hell how come the EU is by far (and I mean by REALLY far) the leading export market for the world, how on earth is that even possible ?

https://en.wikipedia.org/wiki/List_o...trade_partners
  •  Guest
  • | IP XX.XXX.14.242
Here is where fundamentals as opposed to "fundamental" analysis works. The critical difference of course is that the latter reflects normative views about the economic effects and applications relevant to some situation be it in the market, politics etc and not recognized in positive economics and the former what economic theory predicts. Clearly and from the chart posted per this article flows are affected fundamentally by a tariff regime and the evidence in the empirical case cited (USA) negatively so which is consistent with the long-run prediction of economics (any which way you kick it). I am very hopeful that Trump will stick to his guns as hopefully he maintains the view that "trade wars are good and winnable" -- why hope so? Well basically not interested in the economics or politics of if -- but I trade Gold and I desperately want a sustained trend clearly deviated to one side of an average line that persists clearly into the future on MN. I have waited and waited for such an opportunity to really make money and so far no show so I sincerely hope Trump does not back down and indeed includes even more items than just steel. I would love that. Of course not good for those living in the USA but they can always vote Trump out after another six years and hopefully I should be among the super rich by that time. I agree with Trump on this one -- tariffs are a winning proposition for traders if it helps sustain the kind of trend we see in the chart -- cannot wait for next week -- go for it Trump kill them all and come back alone cowboy--kill first talk later.

The Crow (-_-)
Quoting barkie
These OECD indicators measure the relative restrictiveness of product market regulations including rules that limit competition, but they mean nothing to you ? LOL ]
I asked how. How is that quantified? It doesn't seem you can answer that, does it? You see that is the thing with Brexiteers, we're an objective bunch.

Quoting barkie
And BTW dear Jen, if the EU is such a protectionist and regulatory hell how come the EU is by far (and I mean by REALLY far) the leading export market for the world, how on earth is that even possible ?
1. I am not your "dear." At least I ought to be grateful you only reserved "babe" for our PM.
2. EU is the leading exporter because of its size. No individual country compares to the US.
3. EU goods are damn good. I would happily pay more for a German car than an American "equivalent." Nothing else compares to French wine, or cheese, or Cognac... So perhaps they can get away with all those regulations and tariffs. They know they're good.
Quoting jen101
{quote} 1. I am not your "dear." At least I ought to be grateful you only reserved "babe" for our PM...
What is the difference between babe and dear?
Maadik Hugiis. IQ 69.
Quoting barkie
Proud to be a EU citizen, according to the article already back in 2003 the EU saved the world from America's leftist practices and almost killed the S&P. Jolly good stuff. Not that anybody thanked us for it, but this time the great Eurasian partners the EU and China should do it together and teach them that we don't appreciate these dirty socialist practices.
Dude, I am from EU, too, but talking about dirty socialist practices somewhere else, when EU is the biggest socialistic and bureaucratic dump, is way too funny. The only thing the EU is good at is to give free money to useless and many times even illegal immigrants and to prosecute hard working entrepreneurs with disgusting high taxes and bureaucracy.
Everyone can see the chart, but only a few can actually read it.
Quoting OnlineAddict
{quote} Dude, I am from EU, too, but talking about dirty socialist practices somewhere else, when EU is the biggest socialistic and bureaucratic dump, is way too funny. The only thing the EU is good at is to give free money to useless and many times even illegal immigrants and to prosecute hard working entrepreneurs with disgusting high taxes and bureaucracy.
EXACTLY.
Quoting MoneyZilla
{quote} What is the difference between babe and dear?
Don't know but babe sounds more lecherous!
Quoting jen101
{quote} Don't know but babe sounds more lecherous!
Haha! I will use babe from now on! Thanks for the hint!:-)
Maadik Hugiis. IQ 69.
Quoting OnlineAddict
{quote} Dude, I am from EU, too, but talking about dirty socialist practices somewhere else, when EU is the biggest socialistic and bureaucratic dump, is way too funny. The only thing the EU is good at is to give free money to useless and many times even illegal immigrants and to prosecute hard working entrepreneurs with disgusting high taxes and bureaucracy.
This proves again that you are not a entrepreneur because the EU doesn't raise taxes.

Another myth debunked.

Well it's hard to convince lower workingclass like Jen and OnlineAddict, it's like pulling a dead horse.
They are not interested in facts, the Daily Mail is their whole world, well I tried, nothing more I can do.
Quoting barkie
This proves again that you are not a entrepreneur because the EU doesn't raise taxes.
All in good time. Big hole needs to be plugged when we finally bid farewell.
Attached Image (click to enlarge)
Click to Enlarge Name: European-Commission-984157.jpg Size: 2 KB

https://www.express.co.uk/news/polit...ean-commission

Quoting barkie
Well it's hard to convince lower workingclass like Jen and OnlineAddict, it's like pulling a dead horse. They are not interested in facts, the Daily Mail is their whole world, well I tried, nothing more I can do.
Facts, Barkie, not hypocritical ad hom attacks! Funny isn't it, that is the left who themselves are always guilty of what they accuse others.
Quoting barkie
{quote} the EU doesn't raise taxes. Another myth debunked.
You’re absolutely right. I heard they’ve got a guy working in Brussels who every day takes five loaves of bread and two fish and feeds the multitude of officials... Truly this must be a divine rule!
Cheers,
k
  •  Guest
  • | IP XX.XX.125.41
Correction:
Net contribution by UK to EU in 2016 was circa 8B.
https://fullfact.org/europe/our-eu-membership-fee-55-million/

The Bloomberg figure/chart published above does not account for the 4.5b rebated to UK regional and private sector actors in 2016. A common error in public perception.

(Overall EU budget 2016 circa 150b.) http://ec.europa.eu/budget/news/article_en.cfm?id=201511251641
"Well it's hard to convince lower workingclass like Jen and OnlineAddict, it's like pulling a dead horse.
They are not interested in facts, the Daily Mail is their whole world, well I tried, nothing more I can do."

Grrrrrrrrrrrrr...........
The elites think we are stupid. They are in the main quite correct.
Quoting UKBanter
"Well it's hard to convince lower workingclass like Jen and OnlineAddict, it's like pulling a dead horse. They are not interested in facts, the Daily Mail is their whole world, well I tried, nothing more I can do." Grrrrrrrrrrrrr...........
Don't worry about Barkie. He only saw his own reflection in the toilet bowl and got confused.
Attached Image (click to enlarge)
Click to Enlarge Name: AAEAAQAAAAAAAANKAAAAJDRmMmUzZWMzLWU5NjQtNDk3OS1iZjc4LWUzYTU5NGZkMGJiZg.jpg Size: 5 KB
Quoting barkie
{quote} This proves again that you are not a entrepreneur because the EU doesn't raise taxes.
How could they possibly even raise taxes when they are already highest in the whole world? Raise them where? You may not see this by working at your local grocery shop as a cashier, since you pay small taxes.
Everyone can see the chart, but only a few can actually read it.
Quoting OnlineAddict
{quote} How could they possibly even raise taxes when they are already highest in the whole world? Raise them where? You may not see this by working at your local grocery shop as a cashier, since you pay small taxes.
You have to ask your local government.
Quoting Guest
Correction: Net contribution by UK to EU in 2016 was circa 8B. https://fullfact.org/europe/our-eu-m...ee-55-million/ The Bloomberg figure/chart published above does not account for the 4.5b rebated to UK regional and private sector actors in 2016. A common error in public perception. (Overall EU budget 2016 circa 150b.) http://ec.europa.eu/budget/news/arti...d=201511251641
There is a common error in public perception re the true cost of EU membership
Attached Image (click to enlarge)
Click to Enlarge Name: UK's_true_cost_of_EU_memebrship.png Size: 332 KB
[quote=barkie;10835444]{quote} Not at all Jen, the EU is wide open and the LEAST protectionist of the larger countries, take a look and enlighten yourself. http://blogs.lse.ac.uk/europpblog/fi...017figure2.png http://blogs.lse.ac.uk/europpblog/fi...017figure1.png
Attached Image (click to enlarge)
Click to Enlarge Name: EU_agri_tariffs.png Size: 118 KB
Ha there is Devaux again with his "dezinformatsiya"
Quoting barkie
Ha there is Devaux again with his "dezinformatsiya"
Happy for you to prove any of my facts to be untrue (please only use empirical data to do so, as your opinion is worthless), but as usual, your response to facts about the EU, is to insult and abuse the person providing the facts
  • New Comment
  •  Guest
  • | IP X.XXX.2.192
Join FF
  • Story Stats
  • Posted: Mar 2, 2018 3:37pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 34  /  Views: 12,640