The most significant consideration is the welfare of the people, particularly the working population. When those who control financial resources, in pursuit of greater profits, relocated industry abroad, the same working people endured considerable hardship. For an extended period, the act of manufacturing was removed from the populace and transferred overseas. The sole focus appeared to be the substantial profits accrued by a select few within the nation.
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How Apple Could Navigate Trump's Tariffs, According to Gurman
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I think that your rude off-topic question about it shows that you acknowledge that you posted wrong information that you cannot defend, but for whichever reason you don’t want to admit it publicly.
This is getting fun, and very interesting. I have always found high financials like this fascinating. Treasury Secretary Scott Bessent is a quiet Great White shark in this area. As the manager of the London office of Soros Fund Management starting in 1990. You can look up what is now called Black Wednesday when the Pound sterling collapsed taking The Bank of England with it, and Bessent's role in it. Bessent no longer has any connections to Soros and his Son they had a big fallout in 2015. President Trump is no lightweight in the real-estate financing either. Bessent is forcing China's hand. China manipulates the official value of the Yuan to absorb the cost of tariffs. There is no way they can devalue the Yuan enough to absorb a 145% tariff. The move to suspend Tariff increases for everyone but China has Bessent's hands all over it. 95 countries are negotiating, only China is holding out. It is like a Western novel where the quiet person steps up to play cards and the professional gambler thinks he has an easy mark, only to learn that person is a world-class card sharp. Please sit back and watch for the first time we are witnessing World Trade being played by a master, who is on our side.
I understand that Trump and his financial team were watching the bond market. When the yield on Bonds exceeded a certain level they knew it was time for a pause.
I understand that Trump and his financial team were watching the bond market. When the yield on Bonds exceeded a certain level they knew it was time for a pause.
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I think that I explained that while you may not agree with the Newsweek numbers, they were not fully relevant to my post. My initial post was only saying that the new tariffs put in to place have other countries negotiating for lower tariffs from the United States. You attached yourself to one alleged inaccurate point that was not relevant to my initial post and you got stuck on it. Even me agreeing that the Newsweek article was misread by me or inaccurate does not invalidate the point of my initial post. Other countries and negotiating tariffs, Trump is being hesitant. I would appreciate it if you would stop harassing me about it.
I’m not “harassing” anyone, I’m replying to posts on a discussion(!) forum. If you don’t want to continue debating with me, all you have to do is to stop replying. It’s not your call whether I reply to you or not.
Your initial post:
“It looks like other countries are now trying to negotiate tariffs with the US. Vietnam for example is willing to bring down tariffs on US goods from 90% down to 0%. Unfortunately, looks like Trump is still not willing to accept the terms yet. “
Your example being wrong, which I THINK you are now acknowledging, drastically decreases the credibility of the point you are trying to make. If you had been willing to accept that, and simply acknowledge it, we could have continued the discussion from there, and discuss how Vietnam’s “offer” actually would not benefit Trump (which is why he is turning it down), which would be a much more interesting topic. Instead, you insisted on a stubborn resistance to agreeing about the facts related to the discussion. Don’t blame me for diverting the discussion.
Perhaps you should watch the bond market. The sell off continues and the dollar is tanking against all currencies. if you think Bessent and Trump is winning. None of this is going to stop until Some grownups get involved in the decision making.
It depends.
How many Chinese companies are manufacturing goods in the US that they would wish to export globally, or even to China? What would occur if China ceases to export pharmaceuticals?
Many Chinese firms have established operations in the US, often to circumvent trade barriers like tariffs or to be closer to the US market, but their focus tends to be on serving the US domestic market rather than exporting.
If China were to halt pharmaceutical exports to US, the impact on the US would be severe, particularly in the short term, though the extent of the disruption depends on several factors.
Har-be-har-har, I'll take the world of people running investment funds valued in the billions over anyone else and they are all overjoyed by what is happening. And By the way, these people are the grown-ups. If anything they want the tariffs on China even higher.
And its not just Pharmaceuticals If rare earth metals exports are stopped it would be a disaster for the US.
China holds many more cards than many realise including holding a major part of US debt.
This is the information that Trump is using to base his negotiation on, does not matter if it is accurate or not. The point of my initial post was that countries are negotiating tariffs and you are stuck on the stupid numbers. If I would have known that it would cause you to lose sleep, I would not have added the example. I can go back and edit the post if you'd like.
That is what Trump wants manufacturing in the US. But with these Chinese operations, they often bring in their own workers from China and only a token number of locals are hired. The Pharmaceutical industry is a real sore point. At one time most of our Pharmaceuticals were produced in Puerto Rico it put a lot of people on the island to work with good paying jobs by Puerto Rican standards. President Clinton's free trade agreements caused that to move to China. India has a world-class Pharmaceutical industry. In the short term, India could be a trusted supplier.
I am perplexed by comments some folks make, including Trump. They act like everything was forced upon them. The US allowed these Chinese companies to set up and operate, the US gave work visas to the Chinese workers who come to the US to work in these Chinese operations, the US willingly sells and buys goods to and from all these countries throughout the world. Trade is not done with a gun to the head. If the US cannot make a lot of what it needs it only needs to look in the mirror to see who was responsible.
Two really good points about all this made over on The Verge comments area:
Do you recall how India emerged as a world-class producer of pharmaceuticals?
And who was it that encouraged this? Trump started expressing his adverse opinion on this in the late 1980's. This is politicians in Washington giving all of this away. Free trade agreements were anything but free trade for the US. This gets old. The fundamental error was when President Clinton gave China most favored trade status, and China then was allowed to join the WTO. Even Clinton acknowledges this was a mistake. I remember all of the lies these people made. A surprise to me was the labor unions not protesting. Millions of jobs were allowed to disappear offshore.
My pleasure. I know it was a surprise to me.
Pharmaceutical industry in India - Wikipedia
So simplistic. It isn't wage pressure that is the issue with China. it is their predatory trade and manufacturing behavior. They steal everything. It is like Elon Musk says. He does not file for Patients all they are is a blueprint China uses to steal. Nothing original comes out of China. Here are 2 fake iPhones. The way the stores in China get away with this is your fake iPhone is blank. But right next store is a laser engraving business that laser engrave all of the current iPhone markings, on your new smartphone.
Here is a counterfeit iPhone,
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Everyone imitates one another—that is the essence of human nature. If you wish to prevent anything from being copied, you must conceal it securely in the basement. A patent is merely something that anyone skilled in the art can replicate independently.
I don't know why I had any expectation of having an intelligent conversation about world economics. It really is very interesting.
Great. I have nothing to comment on the fact that countries are negotiating tariffs. 100% agree. MY point in MY initial reply was to point out that Vietnam is not “willing to bring down tariffs on US goods from 90% down to 0%”. And I fiercely disagree with your argument that it does not matter whether that number is accurate or not. The inflated numbers gives unduly credit to Trump’s tactic.
If the numbers don’t matter, I don’t understand why it is/was so hard for you to acknowledge that the numbers on Trump’s board is wrong.
I don’t understand this argument. What stops someone in China from copying a phone made in US instead of copying a phone made in China? They copy plenty of products made in Europe too.
Or do you actually believe that when Foxconn is done stamping out iPhones, they let the machines continue and make a bunch extra to sell out the back door? Because that is NOT how counterfeit products are made.
There are factories in China that can very quickly build a product for you from a drawing on a napkin, with incredibly low upstart (NRE) cost, sometimes no NRE if you buy enough of them. The quality of such products will completely suck, but that is the nature of the counterfeit products. I hope you don’t think there is an Apple CPU if that fake iPhone…
What is not to understand? Chinese manufacturers will copy anything they think they can make money with.
iPhones are expensive, even more so in China, but having one is a status symbol, smaller electronics firms turn out copies that usually have Android as their OS, even Windows Phone. There is nothing Apple about these fakes. The scenario I mentioned with the convenient laser etching store is accurate. Leo Laporte on TWiT reported on one he was sent. Apple has given up trying to stop this in Chinese courts Apple always loses.
Here is the Chinese home of counterfeits. I know people who get their smartphones from this outfit
as offshore burner phones. some of them can use 2 to 4 different SIM cards.
Phones For Sale & Wholesale - Buy Phone Online 2020 | Chinavasion
Cheap but Good Cell Phones and Accessories for Sale: Android Phones, Apple iPhones, Rugged Waterproof
www.chinavasion.com
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Exactly. That’s why I’m pointing out that the existence of these knock-off toys isn’t caused by manufacturing your product in China. They will copy whatever they can sell copies of, no matter where you manufacture the original.
Damn, I woke up again today and I still appear to be in Trumpistan. Not sure how to get home... or if that even exists anymore.