
Trump imposes tariffs on uninhabited Heard and McDonald Islands near Antarctica
Australian prime minister surprised after remote external territories – including islands home to penguins – targeted by US president

Aren't you from outside the US? How do US tariffs affect your country?
Does your country have high tariffs on the US? If so, surely what's good for your country would be good for the US.
I agree it's not an only US forum. I am curious if your country has high tariffs against the US though.Let's not start with this US vs the rest of the world thing again. Hope you're not going the same way as get2choppa there? It's a general comment, this isn't a US only forum! The tariffs aren't reciprocal either, many countries that are on the list don't even have tariffs vis-a-vis the US. It's a problem for the US if Trump shuts down trade with much of the world. I don't think the voters will have it, for the reasons mentioned above!
I agree it's not an only US forum. I am curious if your country has high tariffs against the US though.
As far as I know Norway has no tariffs directed towards the US, subject to change soon I guess? Norway is unfortunately forced to follow whatever the EU does. They're trying to push a third EU referendum soon also...
Conversely, I think the idea that for example China is exploiting the US when it comes to trade is the opposite of reality. I mean, the US has an annual massive trade deficit with China. They make the stuff and get paid in printed dollars. Who's gonna suffer more from this do you think? Don't get me wrong, I don't think global free-trade is good for the west, and certainly not for the environment, but people won't like higher prices for consumer goods! Maybe Trump will backtrack though?
There was going to be a recession when Trump took office anyways.![]()
Donald J. Trump (@realDonaldTrump)
https://x.com/americapapabear/status/1907947224090423367?s=12truthsocial.com
Dude is crashing the market on purpose?!?
Looll this will go to the books. At the level of Nero.
Is this the onion?
If the stock market crashes it will not be bilionaires that suffer. It will be the little guy on the street.
Nobel prize? Destroying economies for people to buy treasuries. Fucking brilliant
If monday the selloff continues theres some serious pain for families ahead
As far as I know Norway has no tariffs directed towards the US, subject to change soon I guess? Norway is unfortunately forced to follow whatever the EU does. They're trying to push a third EU referendum soon also...
Conversely, I think the idea that for example China is exploiting the US when it comes to trade is the opposite of reality. I mean, the US has an annual massive trade deficit with China. They make stuff and get paid in printed dollars. Who's gonna suffer more from this do you think? Don't get me wrong, I don't think global free-trade is good for the west, and certainly not for the environment, but people won't like higher prices for consumer goods! Maybe Trump will backtrack though?
To conceptualize reciprocal tariffs, the tariff rates that would drive bilateral trade deficits to zero were computed. While models of international trade generally assume that trade will balance itself over time, the United States has run persistent current account deficits for five decades, indicating that the core premise of most trade models is incorrect.
Consider an environment in which the U.S. levies a tariff of rate τ_i on country i and ∆τ_i reflects the change in the tariff rate. Let ε<0 represent the elasticity of imports with respect to import prices, let φ>0 represent the passthrough from tariffs to import prices, let m_i>0 represent total imports from country i, and let x_i>0 represent total exports. Then the decrease in imports due to a change in tariffs equals ∆τ_i*ε*φ*m_i<0. Assuming that offsetting exchange rate and general equilibrium effects are small enough to be ignored, the reciprocal tariff that results in a bilateral trade balance of zero satisfies:
The reciprocal tariffs were left-censored at zero. Higher minimum rates might be necessary to limit heterogeneity in rates and reduce transshipment. Tariff rates range from 0 to 99 percent. The unweighted average across deficit countries is 50 percent, and the unweighted average across the entire globe is 20 percent. Weighted by imports, the average across deficit countries is 45 percent, and the average across the entire globe is 41 percent. Standard deviations range from 20.5 to 31.8 percentage points.
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Trump imposes tariffs on uninhabited Heard and McDonald Islands near Antarctica
Australian prime minister surprised after remote external territories – including islands home to penguins – targeted by US presidentwww.theguardian.com
The reasoning for how the tariffs were calculated is found here: https://ustr.gov/issue-areas/reciprocal-tariff-calculations
This is not Trump "shooting from the hip," this is Trump using some very intelligent business planning. Choice quotes:
Challenging failed premises: Check
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They put a lot of thought into calculating this tariff scheme, it will be very interesting to see how it plays out. Whether or not it succeeds or fails, I am just very happy that SOMETHING is being done with a lot of thought. The results will surely be instructive for future Americans and economists of all stripes.