Political Thread in memory of David Reid. (R.I.P.)

[outwoodclaret]

The Sun Bed King is wrecking the US economy, alienating long time US allies and generally causing chaos. The Empire will strike back.

He has declared 6 bankruptcies of his own. Obviously he didn’t lose out on those. Just his creditors and all those he conned. If he bankrupts other economies well he won’t be paying for those either. I make no bones about being on the right in politics but Trump is just odious. Tariffs for all (penguins included) but nothing for his dear friend Putin. You won’t object when I take over Greenland then Vladimir.

[outwoodclaret]

It is going unbelievably great so far says moron as he jumps from top of skyscraper building.

[sinkov]

In this country we, allegedly, believe in 'free trade', unlike the orange buffoon on the other side of the pond. Our 'free trade' regime imposes an import duty of 10% on cars imported from the USA, we then charge 20% VAT on top of that to add to the sale price.

Forget the 20% VAT for the moment, but could some of the free trade economists on here, who are so dismissive of the Trump tariffs, please explain the difference between a 10% import duty, which we charge, and a 10% tariff which the US now charges ?

Thanking you in advance.

[The Bedlington Terrier]

In this country we, allegedly, believe in 'free trade', unlike the orange buffoon on the other side of the pond. Our 'free trade' regime imposes an import duty of 10% on cars imported from the USA, we then charge 20% VAT on top of that to add to the sale price.

Forget the 20% VAT for the moment, but could some of the free trade economists on here, who are so dismissive of the Trump tariffs, please explain the difference between a 10% import duty, which we charge, and a 10% tariff which the US now charges ?

Thanking you in advance.

UK imports of cars were not tariff free in the US 4 weeks ago. I need to check out the old tariff but I think it was 10%. Quid pro quo and all that.

[The Bedlington Terrier]

You and Adam Smith talk some right old proper $hite mon ami.

[sinkov]

You and Adam Smith talk some right old proper $hite mon ami.

Would you like to answer the question now mon ami, what is the difference between an import duty and a tariff ? In your own time of course.

[sinkov]

UK imports of cars were not tariff free in the US 4 weeks ago. I need to check out the old tariff but I think it was 10%. Quid pro quo and all that.

I think you'll find it was 2.5% mon ami, compared to 10% for US cars imported into UK, then we add 20% VAT on top. How the feck we've got away with robbing the Yanks like this for years is beyond me, but we aren't getting away with it any longer.

[kritichris]

Would you like to answer the question now mon ami, what is the difference between an import duty and a tariff ? In your own time of course.

They are the same though import duties tend to relate to specific items, tariffs are just across the board. Also tariffs is an anagram of "if farts" but import duty isn't.

[The Bedlington Terrier]

Would you like to answer the question now mon ami, what is the difference between an import duty and a tariff ? In your own time of course.

I was at a funeral yesterday, so I did not get the chance to respond to your question. In simple lay terms I think tariffs are imposed on goods imported or exported by the manufactures of a country to an international country. It’s a tool used by a tool to stymie competition on home produced goods. Trouble is a game of tit for tat usually develops and only the consumer and supplier get hit directly. That’s folks like thee and me mon ami.

Duty is yet another tax the government imposes on goods imported into the domestic country. This duty is popularly known as import duty. Duty is also imposed on the goods manufactured within the country. I have to pay it when I bring in an over the limit amount of Asbach from either Germany or Spain. $hit innit?

[The Bedlington Terrier]

It is going unbelievably great so far says moron as he jumps from top of skyscraper building.

Splat! But a global game of swings and roundabouts is about to begin Sir Outwood.

https://www.theguardian.com/us-news/...o-global-trade