2025 Lunatic Fringe - Market and Trade Chat

[Goldhedge]

 

[Goldhedge]

^^^^^

‘It doesn’t have to be this way’: Canada, Mexico and China respond to Trump’s tariffs​

• U.S. President Donald Trump on Saturday signed an order imposing 25% tariffs on Mexico and Canada, as well as a 10% duty on China.
• In response to Trump’s announcement, Canadian Prime Minister Justin Trudeau announced retaliatory tariffs of 25% against $155 billion of U.S. goods.
• Mexico also vowed retaliation following news of the tariffs, although President Claudia Sheinbaum did not reveal specifics. China, meanwhile, stopped short of an immediate escalation.

U.S. President Donald Trump on Saturday imposed long-threatened tariffs on imports from Canada, Mexico and China — and it didn’t take long for the countries to respond.

Trump signed an order slapping 25% tariffs on goods from Mexico and Canada, and a 10% duty on Chinese imports, due to start on Tuesday. Energy resources from Canada face a lower, 10% tariff to “minimize any disruptive effects we might have on gasoline and home heating oil prices,” according to a senior administration official.

In the executive order, Trump said that if the countries — the U.S.’s three-largest trading partners — retaliate, it could be met with an “increase or expand in scope” of the duties already imposed.

More:

https://www.cnbc.com/2025/02/02/it-doesnt-have-to-be-this-way-canada-mexico-and-china-respond-to-trumps-tariffs.html

 

[Goldhedge]

Ruh roe

 

[Voodoo]

That's why they are mad about the tariff's. Not much they can do about it right now. But this was Trump's doing, their retaliation doesn't matter much.

 

[pmbug]

 

[pmbug]

 

[pmbug]

THREAD: It's hard to overstate how positive this development is for the American people.

Let's talk about how "de minimus entries" have been used to harm the American people and incentivize corruption for decades. (1/19)



(2/19) First, for a bit of background - “de minimus entries” refer to low-value shipments exempt from duties and taxes when imported into the United States.

(3/19) Under Section 321 of the Tariff Act of 1930, shipments valued at < $800 (this number was $200 before 2016) can enter the U.S. without paying import duties or undergoing rigorous customs screening.

(4/19) An international shipment valued at < $800 bypasses standard customs duties, taxes, and formal entry procedures. The rule applies per shipment, per day, per importer, so companies can split large orders into multiple small shipments to take advantage of this exemption.

(5/19) Because these shipments don’t undergo rigorous inspection, it's easier and faster for foreign sellers to ship products directly to U.S. consumers while avoiding proper due diligence.

"De minimus entries" are specifically harmful because:
...

More:

Thread by @realmichaelseif on Thread Reader App

@realmichaelseif: 🧵THREAD: It's hard to overstate how positive this development is for the American people. Let's talk about how "de minimus entries" have been used to harm the American people and incentivize corrup...…

threadreaderapp.com

 

[pmbug]

Whoa...

 

[Fatrat]

I guess the question is who punks out first, both Canada and Mexico have retaliated, China absolutely will....already people are calling this foul up the "Trump Tax".

 

[Goldhedge]

 

[pmbug]

Tariffs on Mexico on hold for 1 month:

 

[searcher]

Bitcoin Price (BTC) Gains After Trump Executive Order for Sovereign Wealth Fund

Such a fund could be a vehicle through which the government might accumulate bitcoin.

www.coindesk.com

 

[Fatrat]

Tariffs on Mexico on hold for 1 month:

I wonder how long she will live, I wish her well though.

 

[searcher]

Tariffs on Canada on hold for 1 month.

Stock futures jump after Trump pauses Canada tariffs

 

[pmbug]

Markets heading up today. Rumors that domestic retail for precious metals are net buying again. Looks like the #squeeze is on.

China resumes trading tonight as their week long holiday is ending. Interesting times!

 

[Goldhedge]

Forget where I read it, but somebody suggested PLTR yesterday because of AI.



found it

Post in thread 'Privacy, encryption vs. Surveillance state'

Nov 13, 2020

Back on topic...

Almost two years ago, I ran across this news story (but failed to post it here) about Palantir Technologies building a supercomputer for the IRS to analyze/track financial transactions:

The Internal Revenue Service (IRS) is building a $99-million supercomputer that will give the agency the “unprecedented ability to track the lives and transactions of tens of millions of American citizens,” tax expert Daniel Pilla reports.

The IRS is already dangerous enough, notes Pilla. “The IRS lays claim to your data without court authority more so than any other government agency...

• pmbug

 

[Fatrat]

We have agreed to try to stop guns going to Mexico and reached another compromise with Canada...so 30 day pause.

 

[pmbug]