Tariffs for Everyone

Tariffs are commonly bad news for someone.

The  rule to say who will get hit, the country imposing the tariffs or the target is simple - Does the country imposing tariffs have an alternative?

Indonesia imposes tariffs on foreign cars, but Indonesia has a strong local  industry so most people hardly notice.

The US does not have a the same, so US citizens will pay more for the same, or get less for their money.

Higher prices will discourage tourism as well,so even more money will be lost to  the  US  economy.

As we all know Fred you can't fix stupid.

Seems the revolution has already begun from many quarters.

Cheers, Steve.

PM Lawrence Wong

https://m.youtube.com/watch?v=G0swAZQeZ … IABgo59PVc

Oops.

When measured people like him warn of the dangers, you know we are all going to see some brown from the fan on us.

        Many cruises leaving the USA for Canada this September and October still have well priced cabins available.  Many tourist providers in Maine claim much of their business is from Canada, and many are cancelling this summer.  This is only the beginning.

I'm sure it will be a two way street mugtech.

I wonder how many people from different countries will now turn away from US products and holidays? Seems what many considered stable is now a kaleidoscope of utter mismanagement and poor decisions, we will leave ego out of my comments.

Cheers, Steve.

@Fred

It seems something like 4 million UK tourists visit the US every year, so changed minds will be a problem for  US businesses, and stories like the above will do exactly that.

It always amazes me how easily Joe Public can be influenced by media headlines especially the Guardian whose political beliefs are anathema to free enterprise that the USA was built on (oh and unlike China free speech Fred).

Has it occurred to these tourists that not everyone voted for Trump and changing their vacation plans will affect many Democrat voters who rely on tourism for their business. Yup its the hurd mentality approach again. Just as I detested Duterte as a leader I detest Mr T but why should that have been a reason for stopping visits to the Philippines there by penalising many Filipinos who work in the tourism industry not all of whom voted for the guy.

Joe public can be hypocritical and often has double standards.

Years ago the UK national carrier British Airways had a major IT outage. Many passengers affected vowed to never fly the airline again - yeah right. Same with Ryan Air but ultimately its the money in your pocket that dictates human choices. Principles take a back seat.

Ironically now is probably the best time to visit the USA at least for the Brits. £sterling is strengthening against the greenback. Kerosene is priced in US$ and the price of oil is down on world markets. Moreover flights and accommodation should become cheaper as fewer people will be flying to the USA.

Now is probably a good time to dive into wall st and make some decent dough. Thanks Mr T. Maybe you're an 'OK guy' after all

@Fred
It seems something like 4 million UK tourists visit the US every year, so changed minds will be a problem for US businesses, and stories like the above will do exactly that.
It always amazes me how easily Joe Public can be influenced by media headlines especially the Guardian whose political beliefs are anathema to free enterprise that the USA was built on (oh and unlike China free speech Fred). - @Lotus Eater

Bold red

That's because people tend to think as far as the Mail, or whatever rubbish rag, tells them to think.

However, ICE has a terrible reputation for good reason, and stories of ordinary tourists getting locked up are validated by governments issuing travel warnings about the states.

LGBT, anyone not white, and anyone Muslim would be ill advised to try to enter the US as things are. White tourists with any social media posts that are a bit anti Trump might also have problems.

https://news.sky.com/story/scientist-de … e-13332518

What was that  about free speech?

@FredIt seems something like 4 million UK tourists visit the US every year, so changed minds will be a problem for US businesses, and stories like the above will do exactly that.It always amazes me how easily Joe Public can be influenced by media headlines especially the Guardian whose political beliefs are anathema to free enterprise that the USA was built on (oh and unlike China free speech Fred).Has it occurred to these tourists that not everyone voted for Trump and changing their vacation plans will affect many Democrat voters who rely on tourism for their business. Yup its the hurd mentality approach again. Just as I detested Duterte as a leader I detest Mr T but why should that have been a reason for stopping visits to the Philippines there by penalising many Filipinos who work in the tourism industry not all of whom voted for the guy.Joe public can be hypocritical and often has double standards. Years ago the UK national carrier British Airways had a major IT outage. Many passengers affected vowed to never fly the airline again - yeah right. Same with Ryan Air but ultimately its the money in your pocket that dictates human choices. Principles take a back seat.Ironically now is probably the best time to visit the USA at least for the Brits. £sterling is strengthening against the greenback. Kerosene is priced in US$ and the price of oil is down on world markets. Moreover flights and accommodation should become cheaper as fewer people will be flying to the USA. Now is probably a good time to dive into wall st and make some decent dough. Thanks Mr T. Maybe you're an 'OK guy' after all - @Lotus Eater

Anyone who does not appear to be very white and obviously Caucasian, no matter their beliefs or religion are not going to take the risk of being locked up in a Venezuelan prison. I think that ICE officers are earning big bonuses based on the numbers they deport. Whether your a Guardian reader or not, why take the risk.

@Fred

What was that  about free speech?

I have a book by the respected historian Frank Dikotter entitled ‘The tragedy of liberation’ - a history of the Chinese Revolution.

I would be lucky to be denied entry on arriving at Beijing international..🙄

I have holidayed in the US twice over the last 30 years, last time was near 20 years ago and not on my radar to visit ever again and now the reasons reveal themselves to the rest of the world. What is interesting is no retaliation on this thread from MAGA cap wearing souls who are usually quite active.

Any ways the truth and hurt are coming out and seems to be rubbing many noses the wrong way globally.

While my investments like many others are taking the hit most of us have been there before and very well know long term is the winner, the ones that really hurt? Most of us know who to blame.

OMO.

Cheers, Steve.

Now is probably a good time to dive into wall st and make some decent dough. Thanks Mr T. Maybe you're an 'OK guy' after all - @Lotus Eater

         For me, right after 9/11 and right after the 2008 mortgage melt down were good times to load up my IRA with stock heavy mutual funds.  Too old today to take advantage of the crash, but if I had 20 more years of life I would consider it.

@mugtech

Wealth building is not about how long you think you are going to live but about growth and prosperity, you might not be around but your heirs?

OMO.

Cheers, Steve.

@Fred
What was that about free speech?
I have a book by the respected historian Frank Dikotter entitled ‘The tragedy of liberation’ - a history of the Chinese Revolution.

I would be lucky to be denied entry on arriving at Beijing international..🙄 - @Lotus Eater

I think things changed at some point after 1976.

Remind me/others Fred as I was in my late teens and focused on the all important fluff getting around.

Cheers, Steve.

Remind me/others Fred as I was in my late teens and focused on the all important fluff getting around.Cheers, Steve. - @bigpearl

Mao snuffed it, and China moved away from communist stupidity to pure capitalism on steroids.

As the world is aware, they maintain the facade of communism, but they hardly behave like it. They are a dictatorship, but that's only a bad thing if the dictator is bad for the people.

I, like you, was extremely interested in fluff (my first frenchies at 11 years old - with two girls behind the local library)

I walked home with them rather than pop into the library to read a book. That was a first, but it was a special occasion.

At that time I had a paper round, so I read every national newspaper every day.

I was big into reading the news, and, a few years later, listening to propaganda from many countries on short wave radio.

Much as nerdy radio and politics were of interest to me, I could easily manage to get a good bonk on a Friday and Saturday night in addition to an education.

My first horizontal lessons were from a 32 year old woman - She was twice my age and a very good teacher. Her lessons have served me well over the years. In order to get a rounded view of the world, I set out to get as many people (Mostly girls, ducky) from as many cultures as possible. I've 'chatted' with North Korean asylum seekers, a beautiful young lady from a bit of Africa I can't remember (She worked in a local KFC), a double with two Nigerian nurses in Rotherham, a very interesting 'conversation' with an Israeli lady, and a fun filled evening with a surprisingly supple Pakistani.

Mainland China and Malaysia were also fruitful countries. I found time for hobbies. I was, and still am, a radio ham.

The trick was to hide any signs of intelligence in favour of a carefree biker image. That was easy as I was a carefree, leather clad biker as well.

I also played chess just short of county level, jumped out of aeroplanes, and got to be quite a good shot with a pistol average well above 90.

I joined the UK Labour party at 16, but switched to the Tories quite quickly as Marxism is obviously idiotic once you get a first hand look at how it works. Marxists also tend to be really boring - not at all like the glorious Maggie.

So there you have a quick history of my life. If you have fun memories, you probably led a good life, even if you were naughty.

My mantra? Boring is bad.

~

So ladies and gentllemen, where to put liquid investments?

One current media suggestion ...

Published: 3:34am, 4 Feb 2025  Updated: 8:25am, 4 Feb 2025

https://www.scmp.com/business/banking-finance/article/3297230/gold-hits-record-high-trumps-tariffs-spur-safe-haven-buying

"Gold hits record high as Trump’s tariffs spur safe-haven buying"

Gold hit US$2,830.49 per ounce on Monday due to the safe-haven demand driven by uncertainty surrounding Trump’s tariffs

Further Reading:

1. Bitcoin slides below US$100,000 as Trump’s tariffs rattle markets
2. Markets drop on Trump tariffs, world leaders brace for next moves
3. Guangdong to LA, tariff superstorm alters course of business expansions
4. China hits back at US tariffs with vow to take case to the WTO

Gold prices hit an all-time high on Monday, bolstered by safe-haven inflows

This is after US President Donald Trump’s tariffs on Canada, China and Mexico added to concerns of inflation that would dent economic growth.

Spot gold rose 0.8 per cent to US$2,818.99 per ounce by Monday afternoon, after hitting a record of US$2,830.49 earlier in the session.

US gold futures settled 0.8 per cent higher at US$2,857.10.

Despite the usual dampening effect of a strong dollar on the gold market, prices have been rallying due to the safe-haven demand driven by uncertainty surrounding Trump’s tariffs, said David Meger, director of metals trading at High Ridge Futures.

The 25 per cent tariffs imposed by Trump on Canadian and Mexican imports from Tuesday, along with charges on Chinese goods, fuelled fears of a trade war that could slow global growth and feed inflation.

Canada and Mexico ordered retaliatory measures while China said it would challenge the tariffs at the World Trade Organization and take unspecified countermeasures.

However, Trump announced a month-long pause on tariffs the US had slapped on Mexico.

The market is not fully convinced about the extent of the trade war, according to Bart Melek, head of commodity strategies at TD Securities.

“We haven’t seen a complete response from gold and if this trade war continues for a considerable period, it could lead to significantly higher gold prices down the road,” Melek said.

Gold is often considered a safe-haven investment during periods of economic or geopolitical instability.  JPMorgan said bearish contagion from equities could weigh on gold in the near term, but disruptive tariffs were a medium-term bull case for bullion.

Investors await data this week on US job openings, the ADP employment report and the US employment report to gauge the health of the US economy.

Meanwhile, bullion banks have been transporting gold from Asian trading hubs such as Dubai and Hong Kong to the US to profit from the unusually high US gold futures premium over spot prices.

Spot silver rose by 0.8 per cent to US$31.56 an ounce, platinum lost 1.5 per cent to US$963.40 and palladium rose 0.5 per cent at US$1,012.85.

--

Highs are generally a bad time to buy anything, including gold.

I will monitor the situation and, as soon as I think it's time, shift to safe, government insured savings.

I'm guessing that will be sometime between June and December this year.

My profits will drop about 30%, but I get safety.

It's always been in China's interest to keep the US rich so they can sell cheap products, but that is changing rapidly.

I can see a situation where China will see dumping US debt holdings as advantages, and that's when it will really hit the fan.

At that point, gold will probably skyrocket until the situation steadily resets.

Stocks and shares are bad news, and are likely to drop to sewer level.

@danfinn

So I did some checkin on your checkin. According to All American.org, Westinghouse isn't on their list of American made W/D's. In fact NONE are wholly USA made. Many parts come from other countries and of the four brands, they're only assembled in the USA.

Much like 100% of all cars sold in the USA today.

So yes, the prices on your W/D's will go up too. Based on tariffs on the foreign made parts.

The interesting thing for us expats is how much actual inflation will we see here in the Philippines? I will toot my own horn and say I'm smarter than the avg bear. I saw the writing on the wall and sold all investments back in December and have not re-entered the market. I haven't even bought T-Bills as the rates could go up any day as investors pull out of the markets. However, since that's loaning the gov't money, and while the USA has NEVER defaulted, could it be a reality? They're trying to pass another massive tax cut right now. Last I checked, lower revenue does not pay down debt when you're increasing your budget spend. Funny how that works. Those that want lower taxes should not whine about increased national debt imo...but I digress.

As it relates to us US retirees here in the Philippines, I read a recent article suggesting the direct impact of the tariffs could be an additional 2% to the CPI. That increase in CPI will directly effect those of us on Social Security with larger checks in 2026. Possibly higher increase than the inflation rate for the Philippines? I guess will have to wait till Oct to find out.

My 4 favorite stocks right now are going down still. They're in the Lithium mining, Uranium mining, and oil sector. I'm glad I got out when I did. Now the question is when to jump back in!

@Larry Fisher

That increase in CPI will directly affect those of us on Social Security with larger checks in 2026. Possibly higher increase than the inflation rate for the Philippines? I guess will have to wait till Oct to find out.

Don’t forget to factor in the currrency dynamic Larry. A weakening $ could wipe out that inflation rate differential.

@Larry Fisher
That increase in CPI will directly affect those of us on Social Security with larger checks in 2026. Possibly higher increase than the inflation rate for the Philippines? I guess will have to wait till Oct to find out.
Don’t forget to factor in the currrency dynamic Larry. A weakening $ could wipe out that inflation rate differential. - @Lotus Eater

Good point.  I hadn't thought about that in relation.  But it's surely weakened since he's been in office. Almost 2% on our exchange rate already.

Not sure the PH to US exchange rate I see the Aussie dollar has dipped from 63/4 to the US now down to 60, similar to AU to PH was around P36 to the AU dollar and today 34.5, good thing it's reasonably priced to live here. We won't get into losses on the share market but seems some countries are suffering more than others, still a sad situation though.

Cheers, Steve.

The guy bankrupted so many businesses including a casino, maybe you should wonder how that is possible, any punter knows, the bookie always wins, and now he is trying to go one  better, he is trying to bankrupt the world.

I think it's time that republicans seriously consider triggering the 25th amendment.

I think it's time for some serious soul searching, any one for a game of golf while the world burns?

Many saw this coming but seems the majority didn't.

OMO.

Cheers, Steve.

a game of golf while the world burns?

Cheers, Steve. - @bigpearl

Nero fiddled while Rome burned.

I understand Trump may have fiddled a few people in his time.

My concern now is China's position on US debt.

If they decide to dump, I need to have moved my money to somewhere safer.

I think the horse has bolted Fred. Funny how such an experienced business man that has a somewhat questionable and sordid past is running a country, well trying and seems wants to control all countries, the shock is setting in and we haven't hit bottom yet, as said the rabbit burrow can be quite deep.

Regardless if sanity wins the day the trust factor has been destroyed, very few countries will ever look at the apparent world leader with blinkers on,,,,,,, eyes are wide open now. I say let him have his tariffs while the rest of the world diversifies and finds new markets.

What happens when the people eventually revolt? Ask Marie Antionette.

OMO.

Cheers, Steve.

   Enzyte Bob has been banned.

I think the horse has bolted Fred. Funny how such an experienced business man that has a somewhat questionable and sordid past is running a country, well trying and seems wants to control all countries, the shock is setting in and we haven't hit bottom yet, as said the rabbit burrow can be quite deep.
Regardless if sanity wins the day the trust factor has been destroyed, very few countries will ever look at the apparent world leader with blinkers on,,,,,,, eyes are wide open now. I say let him have his tariffs while the rest of the world diversifies and finds new markets.

What happens when the people eventually revolt? Ask Marie Antionette.

OMO.

Cheers, Steve. - @bigpearl

I can see a time where some in the US might well want him less alive than he is at the moment - That's internal so not a lot to do with me.

You got one thing spot on, and that's the mistrust he generates. Whatever we do, there has to be that level of trust, and it's pretty much impossible to work with someone without it.

From a US expat's point of view, would that mistrust in the US government be passed on to them?

I see the first casualty being Dollar payments to expats.

If Trump decided to sanction some countries by withholding their money, that will kill the US Dollar.

What happened mugtech? To Bob?

On topic we are always in control of our budget all my life, watched fools going under and for us when things got tough we put the nose closer to the grind stone and worked our tits off, payed off.

One wonders blaming a deficit on countries created over decades and a simple quick fix?

One has to simply ask why consumers buy from foreign countries, simple, it's cheaper as my country can't compete.

Nose to the grind stone and don't take your allies down trying to fix a self inflicted problem and simply blame them because the people purchased from them because most can't afford locally produced products. Competition wins the day not stand over tactics,,,,,,, Look in your own back yard first and stop blaming others for an inability to manage an economy for decades.

Going to come back and bite hard especially for those that can least afford a clowns whims while the rest of the world will move on, it's a double edged sword. And who will the winner be?

OMO.

Cheers, Steve.

@bigpearl

A lot of golf clubs are made in Japan, China, Vietnam and Taiwan so I hope nobody needs a new set especially in the States as they will no doubt be more expensive now.

@mugtech

I was wondering where he had got to.

Off topic Cherry but tells me I need to watch my P's and Q's.

Cheers, Steve.

What happened mugtech? To Bob? - @bigpearl

I know he started a few trolling threads, but I was unaware he had been banned.

You might like to try the 'contact us' link.

@ Fred

Why?

Cheers, Steve.

@ Fred
Why?

Cheers, Steve. - @bigpearl

I only have an idea that could be wrong as I wasn't party to any ban.

I would guess it was the trolling, but that's not from the horse's mouth.

The contact us link is the way to go.

Thanks Fred I'll just try to behave myself and I'm sure he'll be back, perhaps he has moved on?

Always a good banter with Bob over the years.

Cheers, Steve.

        Do not know the story, but if you see any of his posts he is listed as banned, has no posts listed for 2 weeks.

    Do not know the story, but if you see any of his posts he is listed as banned, has no posts listed for 2 weeks. - @mugtech

That's about the time he started the troll threads.

`

As a trump believer, Bob sounds another victim?

I liked the wacky guy, especially his Las Vegas tales

Let's hope he pops up again under another nickname