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Wall Street, which has had it\u2019s collective head up their posteriors for decades, was \u201cCaught by surprise\u201d by the tariffs and have been melting down since the tariffs kicked in. One country that\u2019s been getting hit especially hard is the People\u2019s Republic of China, which has a long history of dumping on American markets and other protectionist measures. (That\u2019s another story all by itself)<\/p>\n
What many people have failed to understand is that the tariffs are, among other things, a negotiating tool. As of Sunday, April 6th<\/sup>, some 50 countries have contacted the White House looking to do some deals to reduce the tariffs on both sides to zero. Here are some of the details from CTV News<\/b><\/a>:<\/p>\n Top administration officials said Sunday that more than 50 countries targeted by U.S. President Donald Trump\u2019s new tariffs have reached out to begin negotiations over the sweeping import taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system. <\/b><\/p>\n The whole point of the tariffs was to upset the old system. Actually, it was to blow it right out of the water.<\/p>\n The higher rates are set to be collected beginning Wednesday, ushering in a new era of economic uncertainty with no clear end in sight. Treasury Secretary Scott Bessent said unfair trade practices are not \u201cthe kind of thing you can negotiate away in days or weeks.\u201d The United States, he said, must see \u201cwhat the countries offer and whether it\u2019s believable.\u201d<\/b><\/p>\n When this story first came out, it was 50 countries that wanted to talk with the White House. As I started working on this post, it was up to 70 countries.<\/p>\n Trump, who spent the weekend in Florida playing golf, posted online that \u201cWE WILL WIN. HANG TOUGH, it won\u2019t be easy.\u201d His Cabinet members and economic advisers were out in force Sunday defending the tariffs and downplaying the consequences for the global economy. <\/strong><\/p>\n \u201cThere doesn\u2019t have to be a recession. Who knows how the market is going to react in a day, in a week?\u201d Bessent said. \u201cWhat we are looking at is building the long-term economic fundamentals for prosperity.\u201d <\/b><\/p>\n Now there are some very interesting developments. Yes, the stock markets are way down from their historic highs, and yes, I took a hit, but I\u2019m not concerned, but oil prices are down to around $65\/barrel. (As I work on this, the market skyrocketed over 10%) With energy costs dropping that means transportation costs are also dropping. Wall Street may be in a panic, but Main Street is not. They are beginning to see things improve. (Yes, egg prices are coming down as well. The chicken flocks are starting to come back from the Biden Massacre)<\/p>\n Countries are scrambling to figure out how to respond to the tariffs, with China and others retaliating quickly.<\/strong><\/p>\n Currently. The \u201cTit for Tat\u201d retaliations appear to be China and the EU. China is, of course, not happy with President Trump being reelected. They\u2019ve grown used to buying presidents and members of Congress. The EU has other issues, namely the president of the European Commission, Ursula von der Leyen.<\/p>\n She has been pushing the EU into a new dark age and has been trying to force the United States to basically submit to the whims of the WEF and the Brussels bureaucrats. She is currently working to shut down free speech in Europe and is trying to suppress the 1st<\/sup> Amendment in the United States. Her primary target is, of course, Elon Musk and TwitterX.<\/p>\n She is also a protectionist and, along with pretty much all of Europe, has been blocking American exports into the EU for decades. This is one of the primary reasons for the tariffs in the first place. To force other nations to drop their protectionist policies and let the United States compete.<\/p>\n In Congress, where Trump\u2019s Republican Party has long championed free trade, the tariff regiment has been met with applause but also significant unease. <\/b><\/p>\n Those who are uneasy are of two types. The first are the \u201cChamber of Commerce\u201d types who think that getting cheap goods into the United states is a good thing, but aren\u2019t considering the effect it has on the American manufacturing base. The second group actually believes that there is true free trade and that anything that interrupts this is bad.<\/p>\n It\u2019s quite early in the process of course, but a lot of businesses think the tariffs are a good thing. One group is the beef industry. What many people may not know is that a lot of counties block American beef and other agricultural products in order to protect their own industries. According to Drovers<\/a>:<\/p>\n During the event, which was broadcast live across the U.S. and abroad, Trump held up a chart showing specific countries in line for what he described as reciprocal tariffs. <\/b><\/p>\n \u201c?We will charge them approximately half of what they are \u2014 and have been \u2014 charging us,\u201d he said. \u201cSo, the tariffs will not be a full reciprocal. I could have done that, I guess, but it would have been tough for a lot of countries.\u201d <\/b><\/p>\n It appears that the National Cattleman\u2019s Beef Association is on board with President Trump\u2019s plans.<\/p>\n National Cattlemen\u2019s Beef Association (NCBA) Senior Vice President of Government Affairs Ethan Lane also issued a statement after attending President Donald J. Trump\u2019s announcement at the White House.<\/strong><\/p>\n \u201cFor too long, America\u2019s family farmers and ranchers have been mistreated by certain trading partners around the world,\u201d Lane said. \u201cPresident Trump is taking action to address numerous trade barriers that prevent consumers overseas from enjoying high-quality, wholesome American beef. <\/b><\/p>\n \u201cNCBA will continue engaging with the White House to ensure fair treatment for America\u2019s cattle producers around the world and optimize opportunities for exports abroad,\u201d Lane added. <\/b><\/p>\n What many people don\u2019t know, and I certainly didn\u2019t, is that Australia exports beef to the United States but will not allow one ounce of American beef to be imported into Australia.<\/p>\n Australia has sold roughly $29 billion of beef to American consumers. Meanwhile, the U.S. has not been able to sell $1 of fresh U.S. beef in Australia due to non-scientific barriers, Lane said. <\/b><\/p>\n It gets better too. Vietnam puts a 30% tariff on American beef but no tariffs on Australian beef. Thailand puts a 50% tariff on American beef. Both countries have been hit with at least the minimum tariffs and I know that Vietnam is now talking with the Trump administration.<\/p>\n Another potential issue is grain exports. A lot of growers are concerned that grain products might be blocked by other countries. They could of course, but the United States is one of the largest grain producers in the world. Blocking our grain exports will probably do more harm to the other countries then us.<\/p>\n As I said, this is going to be a long term fight and a lot of negotiations. Economists are making a lot of statements and pronouncements regarding the tariffs, but really, when have they been right about anything? Far to many of them live and work in a bubble and don\u2019t actually understand how things really work. (See Paul Krugman. He has been pretty much wrong about everything for his entire career)<\/p>\n As I write this post, it looks like South Korea and Vietnam may be close to a deal. There are other nations as well. China has decided to be pig headed and now the tariff on their goods is now 104%. There are a couple of RINO\u2019s who want to remove President Trump\u2019s ability to set tariffs, but I doubt it will go anywhere. Even if it somehow passes, President Trump will veto it. All it is doing is marking several Republicans for primary termination when they are up for reelection.<\/p>\n None of these people seem to understand what President Trump is actually doing. He is working to break the old Bretton Woods system put in place after World War Two. That system long ago outlived it\u2019s usefulness. The idea of Free Trade is nice, but it takes both parties to play by the rules. For to long, the United States has been taken advantage of. Now we have a president who is going to fight back, and who doesn\u2019t care what people think. President Trump may be right. He may be wrong. But he is an old school patriot who is putting America first. It\u2019s about time too.<\/p>\n As I was finishing this up, President Trump announced a 90 day pause on the tariffs for most countries. These are the ones coming to Washington to talk and see if they can work out a deal. Not all countries are affected by this pause. The ones that continued with their retaliation are still being hit with tariffs and in the case of China, they have been increased to over 100%. This pause is why the markets exploded Wednesday, April 9th.<\/p>\n Thatisall<\/p>\n ~The Angry Webmaster~<\/b><\/i><\/p>\n","protected":false},"excerpt":{"rendered":" Good day all. Last week President Trump kept yet another promise and imposed tariffs on imports globally. Some countries were hit with the baseline tariff, 10%, and others that have been engaged in protectionism and putting major tariffs on American … Continue reading <\/a><\/p>\n<\/p>\n<\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/p>\n<\/p>\n***UPDATE***<\/strong><\/h2>\n
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