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How many countries has the US signed ne tariff agreements?
Posted on 4/21/25 at 6:25 am
Posted on 4/21/25 at 6:25 am
Last I heard there were 70 countries lined up wanting to negotiate tariffs with the US. Other than I think Italy and Israel, I have not heard anything about any other country reaching an agreement.
Am I just missing the news?
Am I just missing the news?
8
Posted on 4/21/25 at 6:58 am to BHM
This is why you have a 90 day pause. People or so impatient. Expect immediate results.
Patience grasshopper.
Patience grasshopper.
Posted on 4/21/25 at 8:29 am to BHM
If we sign an agreement with the European Union that is 40 countries right there.
Europe proposed zero tariffs each way.
Trump said no and I don't get why. That would be ideal. We buy German beer, they buy our Kentucky Whiskey etc etc etc.
Europe proposed zero tariffs each way.
Trump said no and I don't get why. That would be ideal. We buy German beer, they buy our Kentucky Whiskey etc etc etc.
Posted on 4/21/25 at 8:30 am to Eurocat
quote:
Trump said no and I don't get why.
They are not willing to do anything with their VAT, which is in essence another tariff/tax they put on our goods...
Posted on 4/21/25 at 9:15 am to The Maj
quote:
They are not willing to do anything with their VAT, which is in essence another tariff/tax they put on our goods...
But then they don't have a sales tax (or you can say VAT functions as one, but okay, then the USA has the same thing it is just structured differently).
CNBC -
LINK
As Trump readies reciprocal tariffs, economists say ‘value-added taxes’ aren’t a trade barrier
President Donald Trump is planning to unveil reciprocal tariffs on Wednesday to retaliate against trade practices his administration deems unfair or discriminatory. Among the grievances is the “value-added tax,” or VAT, which Trump called “far more punitive” than tariffs in a Feb. 15 post on Truth Social.
Many economists, however, disagree with that characterization.
“It would be complete nonsense” to levy a tariff on U.S. trading partners in response to a value-added tax, said Erica York, an economist and vice president of federal tax policy at the Tax Foundation. “A value-added tax does not distort trade,” York said. “It’s not a protectionist measure, so it makes no sense to retaliate against a VAT.”
The White House didn’t respond to a request from CNBC for comment.
In Europe, VAT rates vary by country, but on average are about 20 percent — far higher than sales taxes in the United States, which averaged 6.6 percent in 2023, according to the Tax Foundation. The cost is borne by the consumer, not by the business.
When goods are exported, much of the value-added tax is refunded to the exporter, which Mr. Trump says gives international exporters an unfair advantage. But U.S. companies do not pay sales tax when they export products abroad, a system that works similarly to the value-added tax.
“We have taxes that work this way, too,” Alan Cole, a senior economist at the Tax Foundation in Washington, said on Wednesday. “It may look like consumption tax is much more favorable to exporters, but that’s only true on the surface.”
This post was edited on 4/21/25 at 9:17 am
Posted on 4/21/25 at 9:30 am to Eurocat
A Value Added Tax can be imposed on singular items, while simultaneously being removed from others.
To use your example, German beer in Europe could (would be) removed from VAT , while Kentucky bourbon is not.
At that point VAT basically becomes a 20% tariff.
Trump’s admin must believe that this will be the EU’s pivot point.
Removing that option from the equation makes total sense.
My analogy, you are in a knife fight. You both agree to put down the knives. However, the other guy has a holstered side arm.
You point it out. He refuses to throw that into the deal.
Do you put down your knife?
I don’t.
To use your example, German beer in Europe could (would be) removed from VAT , while Kentucky bourbon is not.
At that point VAT basically becomes a 20% tariff.
Trump’s admin must believe that this will be the EU’s pivot point.
Removing that option from the equation makes total sense.
My analogy, you are in a knife fight. You both agree to put down the knives. However, the other guy has a holstered side arm.
You point it out. He refuses to throw that into the deal.
Do you put down your knife?
I don’t.
Posted on 4/21/25 at 9:32 am to BHM
quote:
Last I heard there were 70 countries lined up wanting to negotiate tariffs with the US. Other than I think Italy and Israel, I have not heard anything about any other country reaching an agreement. Am I just missing the news?
How many per week do you think would be an appropriate number?
Posted on 4/21/25 at 9:32 am to Eurocat
quote:
Many economists, however, disagree with that characterization.
shocking Posted on 4/21/25 at 9:33 am to Eurocat
quote:m
Trump said no and I don't get why.
Because of VAT. How did you not know that?
Posted on 4/21/25 at 9:34 am to BBONDS25
quote:
Because of VAT. How did you not know that?
Basically hes an idiotn
Posted on 4/21/25 at 9:41 am to BHM
Every deal we make allows manufacturing to stay overseas, and this goes against what the president promised.
Oh, and by the way:
Oh, and by the way:
Loading Twitter/X Embed...
If tweet fails to load, click here.Posted on 4/21/25 at 9:43 am to Eurocat
quote:
20 percent — far higher than sales taxes in the United States, which averaged 6.6 percent in 2023, according to the Tax Foundation
Does your retardation cause you pain?
The EU even admits it utilizes VAT to protect domestically produced products...
Posted on 4/21/25 at 9:44 am to Eurocat
quote:
Trump said no and I don't get why.
Not sure but my immediate reaction is because as much as he wants to fix tarrifs, he is/will demand stipulations on trades with other countries...and pay their bill to NATO
Posted on 4/21/25 at 9:45 am to SneezyBeltranIsHere
Posted on 4/21/25 at 9:52 am to jimmy the leg
quote:
A Value Added Tax can be imposed on singular items, while simultaneously being removed from others. To use your example, German beer in Europe could (would be) removed from VAT , while Kentucky bourbon is not.
Can you cite some actual examples where that is happening?
Posted on 4/21/25 at 10:06 am to Eurocat
quote:
Europe proposed zero tariffs each way. Trump said no and I don't get why. That would be ideal.
Thirty years ago, the US had balanced trade with the European bloc, now we're running a quarter of a trillion dollar deficit. There's no logical reason that the US and Europe shouldn't be able to balance our trade again. Both are developed economies. Currencies are virtually equal in terms of PPP.
I can't speak for Trump, but zero tariffs shouldn't be the goal, IMO. The goal should be balanced trade. This would be my agreement with the EU. We'll buy as much from you as you buy from us. If we can't agree on how to reach that goal, then we'll raise tariffs until it happens.
Posted on 4/21/25 at 10:11 am to Eurocat
quote:Because you either don't understand trade barriers, or don't understand lay-of-the-land.
Trump said no and I don't get why.
Posted on 4/21/25 at 10:36 am to BHM
Global economics is more complicated than you think. Consider this...When China sends 50 tons of assorted widgets to the European retailers it goes on a huge ship that holds 100 tons of Cargo. It cannot sail half full without raising the prices of the product. If they are no longer getting the extra 50 tons needed from US retailers then it may take months for that ship to fill up with cargo. The retailers in Europe get pissed and look for other markets. You can't predict how long this will get sorted out. The longer it takes the more it hurts China because that money is not flowing in and it's critical to the Chinese economy.
Posted on 4/21/25 at 10:46 am to The Maj
How does a VAT protect domestically produced products, by what mechanism?
aAValue Added Tax (VAT) does not protect domestically produced products in the same way that tariffs do.
VAT is a consumption tax that applies equally to domestically produced goods and imported goods.
Tariffs, on the other hand, are taxes specifically imposed on imports, making them more expensive and potentially encouraging consumers to buy domestically produced alternatives.
Here's a more detailed explanation:
VAT:
VAT is a tax on the value added at each stage of production, ultimately paid by the end consumer.
It's applied to both domestically produced and imported goods, ensuring that all products competing in the same market face the same tax treatment.
The principle of neutrality in VAT systems ensures that no business has an unfair advantage or disadvantage based on where they are located.
aAValue Added Tax (VAT) does not protect domestically produced products in the same way that tariffs do.
VAT is a consumption tax that applies equally to domestically produced goods and imported goods.
Tariffs, on the other hand, are taxes specifically imposed on imports, making them more expensive and potentially encouraging consumers to buy domestically produced alternatives.
Here's a more detailed explanation:
VAT:
VAT is a tax on the value added at each stage of production, ultimately paid by the end consumer.
It's applied to both domestically produced and imported goods, ensuring that all products competing in the same market face the same tax treatment.
The principle of neutrality in VAT systems ensures that no business has an unfair advantage or disadvantage based on where they are located.
This post was edited on 4/21/25 at 10:48 am
Posted on 4/21/25 at 11:08 am to Eurocat
Have to make up for +30years of their uneven practices
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