Trump G-7 bombshell-"We should at least consider no tariffs, no barriers, scrapping all of it"

“We should at least consider no tariffs, no barriers — scrapping all of it,” Trump said, according to officials who were listening and taking notes.

Trump floated the idea — which was received as somewhat rhetorical — as the meeting was breaking up and was quickly challenged by Canadian Prime Minister Justin Trudeau, who asked, “What about subsidies?”

The other G-7 leaders — from Britain, Canada, France, Germany, Italy and Japan, as well as the presidents of the European Commission and European Council — have been trying to impress upon Trump the complexity of trade issues, insisting that his oft-repeated complaint about the trade imbalance between the U.S. and allies on many manufactured goods is only part of the picture.

Politico

Aside from the lack of verification of the statement, the thinking itself is one I have often thought of.

This makes sense to me, if everyone are mates then why tax each other? - just sell your products in each others countries and let the GLOBAL markets dictate prices for imports and exports.

You see, Trump doesn't look at how to line the pockets of government - he looks at ways to line the pockets of the consumers/customers/investors directly - this is how a freemarket works, it's how capitalism functions best - and Trump promotes capitalism - bigly.

Anyway, I'm certain we'll hear more on this today, for now, he will certainly have the full attention of the G-7, likely Russia too, especially since he gave them a shout-out that they should be reinstated into the original G-8.

a reply to: Sublimecraft


GODS!

I love the way he pisses off conventional thinking!

a reply to: Sublimecraft

If he really said that, kudos to Trump.

In all my years of studying econ at college and beyond, tariffs always seemed like unnecessary, tit for tat bullsnip.

Oh look, not only is Trump a Globalist but he wants to push us closer to being an NWO.

But keep pretending he's an outsider.

a reply to: Sublimecraft

I would trust a leader who considers all the options available to him rather than a fixed idea. To float what could be and should be.

It won't fly. These guys aren't in his league.

originally posted by: DBCowboy
a reply to: Sublimecraft


GODS!

I love the way he pisses off conventional thinking!

What?

Trump throws out # to see what might stick - - to use in his favor.

It's not rocket science.

He doesn't have a clue what he's doing in government.

a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

He has no idea how tariffs work.

originally posted by: Annee

originally posted by: DBCowboy
a reply to: Sublimecraft


GODS!

I love the way he pisses off conventional thinking!

What?

Trump throws out # to see what might stick - - to use in his favor.

It's not rocket science.

He doesn't have a clue what he's doing in government.

DB put out the bait and you took it lol You should know better. I purposely take his bait just to be a troll sometimes.

oh that's where my F****** tax money is going!

Minister Justin Trudeau, who asked, “What about subsidies?”

oh these losers want to STEAL more money out of our paychecks huh?

real loud and clear Justin, loud and clear

a reply to: Xcalibur254
a reply to: Annee
a reply to: Byrd

👆 "Makes me think Trump's strategy is working" 👆

originally posted by: Annee

He doesn't have a clue what he's doing in government.

And yet he makes things better for Americans every day. Imagine that. Don't know what your statement says about past admins then.

originally posted by: Byrd
a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

He has no idea how tariffs work.

don't expect logic and reasoning and a basic understanding of supply side economics from any lefties

originally posted by: Byrd
a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

He has no idea how tariffs work.

You don't understand I think. You don't think Wilbur Ross and team understand how tariffs work...and don't?? They're the one's shaping the policy and strategy.

originally posted by: Byrd
a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

He has no idea how tariffs work.

With commodities fetching different prices in different regions, a country with a valuable currency and high cost of living like the US is going to lose in this exchange every time. That said, what we could do is let anything into the country with the caveat that X% of the labor in those goods provided to our market is produced domestically.

I don't care if a Japanese company like Hino sells automobiles provided they're employing Americans to build those automobiles. The same is true of any other product.

That said, there's a lot of fine tuning of everything that requires legislation specific to each sector which makes it inherently complex. It's not nearly as simple as Trump is suggesting.

originally posted by: toysforadults

originally posted by: Byrd
a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

He has no idea how tariffs work.

don't expect logic and reasoning and a basic understanding of supply side economics from any lefties

Hey you watch your mouth bud. I understand economics and some would call me left.

originally posted by: toysforadults
oh that's where my F****** tax money is going!

Minister Justin Trudeau, who asked, “What about subsidies?”

oh these losers want to STEAL more money out of our paychecks huh?

real loud and clear Justin, loud and clear

Subsidies are a very good way to build a competitive advantage for your nations exports.

Maybe some day Trump will make up his mind. Not counting on it though.

a reply to: Sublimecraft

The other G-7 leaders — from Britain, Canada, France, Germany, Italy and Japan, as well as the presidents of the European Commission and European Council — have been trying to impress upon Trump the complexity of trade issues, insisting that his oft-repeated complaint about the trade imbalance between the U.S. and allies on many manufactured goods is only part of the picture.

What they are really saying.

We know the American economy is being screwed by massive trade debts and sending money to anyone and everyone who isn't American. But we can't keep our economies functual without stealing as much as possible from the American taxpayer.

They can all go screw themselves. We need to keep American generated wealth in America to protect the American workers. If they can't figure it out then they don't have the Intelligence necessary to lead.

originally posted by: Byrd
a reply to: Sublimecraft

So... you're in favor of other countries dumping cheap raw materials and products (steel, aluminum, etc, etc) here in the US and not buying our more high-priced goods? I"m not.

Do you understand supply & demand versus imports and exports?

He has no idea how tariffs work.

Yes he does .

a reply to: Sublimecraft

Not a bad thought initially. If you could get all the Nations to agree in equal tax treatment of profits, double taxation, country hopping year to year for favourable tax regime he may have a point.

Thats not even taking into account countries that mandate the Govt. maintain a 49% shareholding and executive control.

Its not just tariffs or sales that determine a companies bottom line.