Law firm, England & Knight have put up the following page summarising the full effect of China's counter-tariffs:
Note that Red States will bear the full impact of effective bans on poultry, pork, wheat and soybeans. China can easily replace these supply lines with output from Brazil, Argentina, New Zealand and Australia.
Further, Canada and Mexico are still where they are:
The move to shut down the US aid programme does look dictatorial. My question is related to Elon Musk: who elected him? Elon Musk is not the entrepreneur he's touted as being. He's an invention of the US federal government and its spending, without which he'd be penniless. Not only that, he makes the world's worst car, Tesla, and rockets that are unreliable. For the latter, and an example of best practise he needs to take a trip to Russia, and for the former a trip to Japan.
I find myself agreeing with about 50% of what Donald Trump is doing. However, don't his recent moves look like Russia collusion? If you look back to just before last year's election, who stood isolated in the world? That would be Russia, with only a few close allies; namely, China, Iran, North Korea and Belarus.
Now, Donald Trump is trying to upset all of America's closest allies; Mexico, Canada, and the EU. If you were Vladimir Putin, wouldn't you be dancing a jig right now? I think so. Then, Elon Musk has close links to China and het sets out to destroy US federal government institutions. Uhm...hellooo.
I've found a useful explanation on how tariffs actually work. I don't talk about myself all that much, but something I can say is that I've done a lot of import and export, with goods heading all over the world. I find myself agreeing with the man from shoemaker, Deer Stags.
I now notice talk of the US soon to impose a worldwide 10% tariff on imports. But, I wonder how much of these moves from Donald Trump are actually targeting those who have criticised him, it's kind of convenient that the leaders of Mexico and Canada are both opponents of Trump. Using that logic, the UK must now be in the crosshairs since the UK Labour party sent activists to the US to actively campaign for Kamala Harris. That may come back to bight Keir Starmer on the arse.
Are we about to enter another era of tariff wars worldwide? We are if the soon to be imposed tariffs on Canada and Mexico come into effect.
Tariffs are usually a negative and are inflationary. They impact the less well off, as well as those on fixed incomes. The effect of this in the USA will also result in US manufactured goods that rely on imported components, becoming more expensive. Workers will lose their jobs.
However, on the other side of the equation; with oil and gas being fully exploited and with oil going into every part of our lives, then the lower prices at the pump will temper the inflationary effects of the tariffs.
It's a wait and see. By comparison, Japan play the game differently as they don't rely on tariffs, but they do use complicated regulations to protect their own industry. An example is with rice. Japan require all rice consumed to be grown in the country, as a matter of strategic importance. However, they do import rice, but it gets further processed into such things as rice crackers. In Japan, you cannot buy foreign rice to be consumed as rice itself.
Below embed is the best I can find so far on the effect of tariffs, apologies for the speaker treating everyone as if they're imbeciles:
