Update
Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

John Deere Trump Tariffs

[media=https://youtu.be/oWFUOA-XBXk?feature=shared]

Another company moving production to Mexico _ very cheap labor _ will net billions more _ sell in the US at unheard of prices. COMPANY GREED

First time I agree with Trump - they need to have heavy tariffs to sell their products here - at least 50/75!
Adrift · 61-69, F
I saw an interesting interview Trump did in PA.
He listened to various people, farmers, manufacturers of farm equipment, and talked about what his policy plans would mean to them.
Alot of the manufacturers here cannot compete with the cheap prices that buyers get from China.
Thats why he wants to do the tarrifs.
How many people have bought brand name appliances made in china that crap out in the first couple of years.
SDavis · 56-60, F
@Adrift China does have a lot of imported cheap stuff - a lot of stuff that breaks down quickly but some are good. But to be totally honest most stuff made in the US isn't worth a darn either.

In 2019 / 2020 the Trump administration had to bail out the farmers with billions of dollars because of his tariffs.

So if you think about it what did this country gain if China spent billions more in tariffs that billions that China spent had to be paid to the farmers.

And Trump isn't going to tell you his carers cost this country a quarter of a million jobs according to non-governmental financial reports
https://carnegieendowment.org/china-financial-markets/2021/01/how-trumps-tariffs-really-affected-the-us-job-market?lang=en

And the steel corporation other countries quit buying it money loss job loss
https://www.nbcnews.com/business/economy/trump-steel-tariffs-raised-prices-shriveled-demand-led-job-losses-n1242695
Khenpal1 · M
@SDavis A huge amount of soya and corn go from US to China , imagine the loss of this marked ?
Adrift · 61-69, F
@SDavis Did the biden administration remove any of those tarrifs?
In fact it looks like he added a few of his own.
The bailout as I remember happened during all the shut downs.
https://www.nytimes.com/2024/09/13/us/politics/biden-tariffs-chinese-goods-clothi
Heartlander · 80-89, M
The math favors tariffs as the way to restore balance and stability to the US economy. There may be a bump in inflation but if done carefully there will be a bigger bump in US wages, US employment and bring a reduction in the national debt.

Those who say tariffs simply add to the cost and gets passed on to the consumers are ignoring that the tariffs get paid to the US Treasury and can be used to incentivize US consumers in a number of ways, like lowering taxes, infrastructure, etc. so that the benefits offset the increased cost of imported goods. If nothing else the government can just pay it directly to American consumers. So imagine a made in China washing machine gets slapped with a 20% tariff and the Chinese manufacturer adds that 20% to the cost of that washing machine, so what was a $1,000 washing machine is now a $1,200 made in China washing machine. And where does that extra $200 go? To the US Treasury. But that means the US consumer gets screwed because the washer is now $200 more expensive? Answer: no, not if the US government gives that $200 to the US consumer. So who then actually pays the $200 tariff? Answer: The Chinese manufacturer, not the US consumer. So why have a tariff in the first place if everything comes out the same for the consumer? Answer: because it restores parity to "Made in the US" Vs "Made in China". It un-does the very reasons why products made in China are always cheaper than made in the USA: Chinese taxes are far less than US taxes, Chinese regulations are far less restrictive than US regulations, Chinese workers are paid far less than US workers, and Chinese manufacturers can get away with using dirty energy and American manufacturers can't. The US government has no control over China's taxes, or regulations, etc. But it can balance the difference with tariffs on imports from China.
carpediem · 61-69, M
@Heartlander China manipulates its currency to offset the tariffs. The extra $$ winds up in the coffers of the US helping to reduce deficit and at one point help pay down the debt. Other countries are assigning tariffs to US goods today. A one for one tariff will help to change minds and open markets.
Heartlander · 80-89, M
@carpediem Yea, my focus on China was because 90% of my last Amazon order was made in China :) but it's not just China. In an open market decisions on which to buy should be based on a value for price comparison. The way it is now US manufacturers are competing with hands tied behind their backs. No one can afford Made in America, not even the American people.
carpediem · 61-69, M
@Heartlander I buy made in America whenever I can. But you're right, the US has let itself become dependent on cheap Chinese made goods. Tax and trade policies made that happen. Yes the union influence is harmful, but with jobs being displaced by companies moving to China, it gets more and more difficult to maintain a decent wage.

If recall under the first Trump administration, wages were rising while energy costs were declining. That left the American consumer with expendable income. All was well until China unleashed the virus on us. Effective trade policy with the American consumer being the main focus of the US negotiation team is what will make the difference.
carpediem · 61-69, M
I agree with tariffs if they move. But we need to look at the reasons that are driving such a step in the first place. Is it only corporate greed? It's easy to point and say "boogeyman". Rather, I believe we need to look at the reasons companies flee the states, especially manufacturing companies. I submit raising the corporate tax rate to 28% is going to drive more companies away and have a negative effect on both the economy and the people who used to work at the companies fleeing.

There's a lot more buried in policy that drives these choices. That's where we need to start. We need to bring manufacturing back to the US. It's critical
carpediem · 61-69, M
@SDavis Companies are owned by people. Not all companies make billions. Raising the corporate tax rate will chase manufacturers into countries with lower rates. That’s a fact
Adrift · 61-69, F
@SDavis Most of the largest corporations move into other countries because they have the ability to do it.
Its the small mom and pop corporations that end up having to pay.
So your hurting the small business the most.
Heartlander · 80-89, M
@SDavis One problem with corporate taxes is that they are applied BEFORE a corporation pays dividends to its stockholders AND those dividends are are taxed AGAIN when received by the investor. Add it all together and the cumulative tax on $100 in corporate profit passed onto its stockholders can exceed $70. IF instead of paying out profits in dividends to stockholders a corporation tries to retain it's profits in anticipation of a downturn in the economy or just to assure it's rainy day survival our tax laws punish corporations to in effect punish them for not paying dividends that can be further taxed by the IRS. So to sidestep all those taxes, corporations instead just pay their executives more, thus increasing their expenses and lowering their profits. Our tax laws are designed to screw the investors and boost the pay of corporate executives. Who are the investors? The people, via individual IRAs, pension funds, ordinary Americans saving for retirement. Who are the corporate executives? they are the people who hire lobbyist to wine and dine members of congress, give them free rides on corporate jets, contribute to there campaign war chests, etc?
TexChik · F
He did that in his last term as well. America first !
SDavis · 56-60, F
@TexChik

And he had to pay billions to the farmers to compensate them for their losses because of his tariffs.
https://www.politico.com/news/2020/07/14/donald-trump-coronavirus-farmer-bailouts-359932

https://www.statista.com/chart/33120/estimated-us-agriculture-export-losses-mid-2018-to-end-of-2019-due-to-retaliatory-tariffs/
TexChik · F
@SDavis So we now give billions to the Ukraine for kick backs to corrupt democrats and no benefit for America.
SDavis · 56-60, F
@TexChik
That actually has nothing to do with tariffs.

And what type of kickback is the US getting from the Ukrainians - definitely couldn't be money doesn't make any sense to give billions to a country to get kicked back of money.

If by chance this country ever became in need of assistance from another countries and this country was being destroyed like Ukraine is - would you like other countries to assist or just keep their billions?

Corrupt Democrats - naturally you would feel that trumpeter.
trollslayer · 46-50, M
Tariff costs are simply passed on to the consumer.
Why are they moving to Mexico? What is the driving factor?
@Adrift Fair enough.
@soar2newhighs lower labor costs and a woke DEI agenda. And it's backfiring on John Deere 😂
@BizSuitStacy For Deere (the portion going to Mexico) would be spared any taxation was Harris to win.
This comment is hidden. Show Comment
@jshm2 wow...look at who's speaking out against "arbitrary taxation"

ROTFLMFAO
🤣🤣🤣🤣🤣🤣🤣🤣🤣
SDavis · 56-60, F
@jshm2 so true - that's why the food is flavorless unless you put a lot of salt on it and products break down quickly.

If the president decides this is going to happen the president will find a way to make it happen. Executive order!!!

Having said that companies need to stay in this country. John Deere made 10.166 billion AFTER TAXES in 2023.
https://www.deere.com/en/news/all-news/fy23-fourth-quarter-earnings/#:~:text=For%20fiscal%2Dyear%202023%2C%20net,per%20share%2C%20in%20fiscal%202022.

 
Post Comment