We'll see. I like to be optimistic and hope all the smart people like Musk backing him are correct.
I used to think it was our high taxes that forced companies to leave the US, but I think another issue is they move to China (and other countries) to avoid import tariffs on US goods sold there.
In fairness, we should match tariffs with other countries which clearly we've let them get away with for far too long.
So what happened to Trump's MCA trade agreement? Did he forget to protect your tree prices from Canadian dumping? I like lower prices... if Canada can cut and ship trees to us for wood to build houses cheaper than you, shouldn't we buy from them?
I axed Gemini: " list countries that have cut tariffs today on US goods" and got
Based on the information available, it appears that as of today, Wednesday, April 2, 2025:
- Israel has eliminated all remaining tariffs on imports from the United States. This move was made effective immediately on Tuesday, April 1, 2025. The tariffs that were removed primarily affected agricultural products.
- Vietnam has recently announced a cut in tariffs on a range of US exports, including energy and agricultural products. However, the exact date this went into effect isn't specified as "today."
- India also appears willing to cut tariffs on approximately half of all US imports. Similar to Vietnam, the precise implementation date for these potential cuts isn't confirmed as "today."
It's important to note that while these countries have taken steps to reduce or eliminate tariffs on US goods, this information is based on reports from the past day or so and may reflect announcements rather than changes implemented precisely on April 2, 2025.
Furthermore, the broader context of US trade policy involves the implementation of "reciprocal tariffs" by the US on goods from various trading partners, which is also expected to begin around this time. This could lead to a dynamic situation with countries potentially adjusting their tariff policies in response to US actions.
and
General Information on US Tariffs and Trade Agreements:
The United States utilizes tariffs as a tool for various economic and strategic objectives, including protecting domestic industries, addressing trade imbalances, and ensuring national security.
Key aspects of US tariff policy include:
- Free Trade Agreements (FTAs): The US has FTAs in force with 20 countries, which generally eliminate or reduce tariffs and other trade barriers between the member countries. These agreements aim to promote trade and investment. Examples include the United States-Mexico-Canada Agreement (USMCA), the Korea-US FTA (KORUS), and agreements with Australia, Chile, Israel, and others.
- Reciprocal Tariffs: The US has indicated a move towards implementing tariffs that mirror the taxes other nations apply to US exports. The aim is to create a level playing field and encourage other countries to lower their tariffs on American goods.
- Section 232 Tariffs: These tariffs are imposed under Section 232 of the Trade Expansion Act of 1962 on the grounds of national security. Recently, the US has announced tariffs on imported automobiles and certain auto parts under this provision.
- Section 301 Tariffs: These tariffs are imposed under Section 301 of the Trade Act of 1974 in response to unfair trade practices by other countries. They have been notably used in trade disputes with China.
It's a complex and evolving landscape, with countries frequently adjusting their trade policies and engaging in negotiations that can impact tariff levels.
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