That would still preferable to large portions of the military leaving and not reporting to duty due to a lack of confidence.
You wanna tell me what I should care ? I care about the level of the SP500 so if there is a bear market caused because of beginning and developing trade war worldwide I do car. Those tensions you mentioned only have some very limited impact on Gold and Oil but not on the US Equity Market Indices. That is what I care nothing else. You seem to be ignorant. All these Trumpets or Trumpists are totally blind, they follow him to death. Good luck. I am out of USA being European and I am much less emotionally involved and have a more neutral view on what is on the political agendas of those two candidates. A trade war is for sure nothing small and it does not affect only USA of course. And I only wanted to discuss of the effects of huge tariffs in this thread.
German finance minister warns of retaliation if U.S. kicks off trade war Published Fri, Oct 25 202411:55 AM EDT Sophie Kiderlin@in/sophie-kiderlin-b327b914a/@SKiderlin Share Key Points German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off a trade war with the European Union, there could be retaliation. “Trade controversy sees never winners, only losers,” Lindner told CNBC’s Karen Tso on the sidelines of the International Monetary Fund’s annual meeting in Washington, D.C. Trade is a key pillar of the German economy, and the U.S. is one of its most important trading partners. https://www.cnbc.com/2024/10/25/ger...of-retaliation-if-us-kicks-off-trade-war.html -------------------------------------------------------------------------------- I have not found any one person who has economic knowledge and is working in that area, who says installing huge tariffs are a good thing. And that regardless of any country. So why the USA is considering to harm themselves ? I do not get it. Please give me a serious source saying the opposite, that tariffs a good thing.
What happened in Colombia where I'm currently expatting when the first tariffs were introduced in the US, Chinese companies put a lot more into pumping the markets in South Amercia. This caused closures of a lot of small suppliers here. The Chinese government started visiting all the time to shore up trade relations and buy influence. The USA is a big market but is only around 4.5 percent of the world population. China had room to maneuver. I have said for twenty years, Amazon and others need to be forced to include country of manufacture so buyers can at least choose to preferentially buy from other markets. The B2B markets have this option. Straight tariffs win a battle but lose the war.
https://www.cnbc.com/2024/10/26/trump-joe-rogan-election-tariffs-income-tax-replace.html Donald Trump stood by his idea to end income taxes and substitute them with tariffs in an interview with Joe Rogan. Tax experts and economic analysts do not think Trump’s tariffs would be an adequate counterweight to balance the trillions lost from eliminating income taxes. Trump has floated eliminating income taxes on tips, overtime pay and Social Security benefits, paired with an aggressive universal tariff policy on all imports. Ending taxes on tipped income, overtime and Social Security alone would cost an estimated $2 trillion over 10 years, according to the nonpartisan think tank Tax Foundation. That cost only grows with the addition of Trump’s other tax exemption proposals. Trump sees his aggressive tariff policy vision as a way to offset those costs. He has proposed a 20% tariff on all imports from all countries across the board, with an especially high rate for Chinese imports. But tax experts and economic analysts do not think Trump’s tariffs would be an adequate counterweight to balance the trillions lost from eliminating income taxes. “It would not be possible to raise tariffs rates high enough to cover anywhere close to that amount [of income tax revenue], as imports would decline as the tariff rates increased,” Garrett Watson, a senior policy analyst at the Tax Foundation, told CNBC earlier this month. Watson added that Trump’s tariffs would likely generate an estimated $3.8 trillion in revenue over 10 years compared with the $33 trillion that individual income taxes would bring in over the same period. On balance, Trump’s overall tax plan including tariffs would expand the deficit by $3 trillion over a decade. “The math doesn’t work out,” Watson said. -------------------------------------------------------------------------------- I am 100% certain Trump will increase tariffs further when he sees that the incoming from tariffs is not sufficient. That can easily be 50% tariffs on everything or even 100%, just to make his plan come true or better the chances for this. What he forgets is, that there is no winner on such a big trade war. But I guess he has not ever studied an economic book on tariffs at all. And he seems to be immune against any advisors surrounding him too. This is not good. Too much harm.
Have you looked at what the Japanese drive? It sure is not the big pickups that are so present in the US. Therein lies the problem. The Japanese are designing and building cars for the US, but not the other way around. Take for example the Hilux. Amazing Pickup that is sold the world over. EXCEPT for the USA. Why? Because the USA want monstrosities that the rest of the world simply does not want. Tariffs are counter-productive.