ArishMell · 70-79, M
I think it's on imports from anywhere, though, not only Australia. The UK is another country that exports a lot of pharmaceuticals to the USA, so could be hit in the same way.
Remember though that the manufacturer and exporting nation do not pay the tariff - the importing end customer pays that. The manufacturer loses by reduced export sales. I am not sure Mr. Trump comprehends that, because when he talks about imposing tariffs he implies the tax is on countries and they pay the tax.
President Trump seems to imagine manufacturers can set up lots of new factories overnight! He also appears to imagine exports and imports are only of physical goods, both manufactured items and raw materials. Or perhaps he does mean only physical imports.
Yet there is also an enormous international trade in intangibles like the arts and sports, public-service TV and radio programmes, transport, business consultancy, insurance, scientific, medical and engineering knowledge, high-level education. Are they subject to import taxes in the USA?
Even many manufactured goods are not as clear-cut as seems, because certain classes involve a labrynth of international trade in the paths from raw materials via components to finished items.
Whether this new tariff on imported medicines is some sort of revenge for Australia (and perhaps other countries too) not toeing the Trump line, probably only Mr. Trump can say. Nevertheless his aim has always been to make the USA more self-reliant, even rather isolated - ironically after a century of her own international corporate-raiding, political domination and cultural hegemony. Unfortunately he shows little care for, and indeed may not understand, the consequences of his actions for other nations.
Remember though that the manufacturer and exporting nation do not pay the tariff - the importing end customer pays that. The manufacturer loses by reduced export sales. I am not sure Mr. Trump comprehends that, because when he talks about imposing tariffs he implies the tax is on countries and they pay the tax.
President Trump seems to imagine manufacturers can set up lots of new factories overnight! He also appears to imagine exports and imports are only of physical goods, both manufactured items and raw materials. Or perhaps he does mean only physical imports.
Yet there is also an enormous international trade in intangibles like the arts and sports, public-service TV and radio programmes, transport, business consultancy, insurance, scientific, medical and engineering knowledge, high-level education. Are they subject to import taxes in the USA?
Even many manufactured goods are not as clear-cut as seems, because certain classes involve a labrynth of international trade in the paths from raw materials via components to finished items.
Whether this new tariff on imported medicines is some sort of revenge for Australia (and perhaps other countries too) not toeing the Trump line, probably only Mr. Trump can say. Nevertheless his aim has always been to make the USA more self-reliant, even rather isolated - ironically after a century of her own international corporate-raiding, political domination and cultural hegemony. Unfortunately he shows little care for, and indeed may not understand, the consequences of his actions for other nations.
whowasthatmaskedman · 70-79, M
@ArishMell Your facts are all correct of course. But here are a couple more. America exports to Australia far more pharmaceuticals than australia ships back to the US. But American manufacturers have long complained about our subsidized benefit scheme which give Australians access to super expensive drugs and treatments far cheaper than Americans pay. (Not unlike Canada I believe) And Trump threatened retaliation if the scheme was not dismantled.. The Australian government has a strong bipartisan agreement to protect the scheme at all costs..Frankly, the 100% tariff threat will have little effect on exports from Australia. Just that some of them may not go to America anymore. allowing the local makers to charge more there..
On a side note. Our PM is currently in Britian talking with the Brits about the Nuclear submarine deal. Its just possible that may be modified to use British submarines, instead of the "pre loved " American ones.. That will have the advantage of having the steering wheel on the correct side at least..😷
On a side note. Our PM is currently in Britian talking with the Brits about the Nuclear submarine deal. Its just possible that may be modified to use British submarines, instead of the "pre loved " American ones.. That will have the advantage of having the steering wheel on the correct side at least..😷
ArishMell · 70-79, M
@whowasthatmaskedman Thankyou!
I think it's somehat similar with the UK, which does export a lot of pharmaceuticals to the US - and of course has a National Helath Service, a scheme apparently anathema to many American Republicans. The value was quoted on the News but I forget the figure. I don't though, know which way round is the balance of the exchange.
I can't think where Trump gets his idea that he can try to order other nations how to run their public services. He'd hate to have anyone do it to the USA.
The steering wheel on the correct side... I like that! :-)
I think it's somehat similar with the UK, which does export a lot of pharmaceuticals to the US - and of course has a National Helath Service, a scheme apparently anathema to many American Republicans. The value was quoted on the News but I forget the figure. I don't though, know which way round is the balance of the exchange.
I can't think where Trump gets his idea that he can try to order other nations how to run their public services. He'd hate to have anyone do it to the USA.
The steering wheel on the correct side... I like that! :-)
jehova · 36-40, M
Trump didn’t win a majority of votes only a plurality. In a literal sense DJT did not win; at least not from a truly “democratic” perspective
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whowasthatmaskedman · 70-79, M
@Thevy29 Thats not for me to explain. I am not part of the American electoral process. But Americans sure have sone 'splainin to do after this...😷
whowasthatmaskedman · 70-79, M
@Khenpal1 Agreed. But the rest of the world will move on leaving america behind.😷
Khenpal1 · M
@whowasthatmaskedman to some extend yes, its not about polititians , but where the money gets invested on the term of 10 years. Its reindustrilization of continents , protectionism, trade walls. Money loves monopols . China needs to cut production with 50% over next 10 years . It would had taken place regardles Trump or not.
ShenaniganFoodie · 36-40, M
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whowasthatmaskedman · 70-79, M
@Strictmichael75 Job done!😷
Strictmichael75 · 61-69, M
@whowasthatmaskedman Definitely