Tariffs? What tariffs?

[pdq]

Hoo boy:

U.S. Commerce Secretary Howard Lutnick said Thursday [ie today] in a television interview that President Donald Trump will “likely” suspend 25% tariffs on Canada and Mexico for most products and services for a month, broadening an exemption that was granted on Wednesday only to autos.

Jebus Christ. How’d you like to be a purchasing manager in, say, the auto, or auto parts business right now?

Uncertainty is the bane of both business and investment.

This is well beyond that. It is utter chaos.

[pdq]

…and just like that:

Trump says he's lifting tariffs on most goods from Mexico for 4 weeks amid economic fears from trade war (AP)

Another appropriate headline:

Here's how to manage your money through the chaos

[GGD]

I think Tariffs are his new Infrastructure Week, it will always be a month away from happening.

[vision63]

Your basic malignant narcissistic behavior. He is an evil, toxic man.

[Tiangou]

pdq wrote:
Jebus Christ. How’d you like to be a purchasing manager in, say, the auto, or auto parts business right now?

I know a parts importer. Not auto parts, but it's probably the same process and reasoning.

This is how I understand it from him...

The importer has a payor number, registered with Customs. Using this number, tariffs are automatically debited by customs from a cash account that is refilled with a rolling line of credit guaranteed by a bank.

If you know it's coming, you can arrange for a large tariff payment to come through as several smaller payments, or be delayed over several weeks. It can take a few days to set this up.

If huge tariffs are unexpectedly applied, it can consume the whole credit-line and cause any number of problems with the bank including extra fees and potentially cancellation of the account with the bank.

As a result of this uncertainty, they have frozen all shipments for now from certain countries. Anything that wasn't off the ship last week is still sitting on the ship.

[Speedy]

Thanks.

Tiangou wrote:
[quote=pdq]
Jebus Christ. How’d you like to be a purchasing manager in, say, the auto, or auto parts business right now?

I know a parts importer. Not auto parts, but it's probably the same process and reasoning.

This is how I understand it from him...

The importer has a payor number, registered with Customs. Using this number, tariffs are automatically debited by customs from a cash account that is refilled with a rolling line of credit guaranteed by a bank.

If you know it's coming, you can arrange for a large tariff payment to come through as several smaller payments, or be delayed over several weeks. It can take a few days to set this up.

If huge tariffs are unexpectedly applied, it can consume the whole credit-line and cause any number of problems with the bank including extra fees and potentially cancellation of the account with the bank.

As a result of this uncertainty, they have frozen all shipments for now from certain countries. Anything that wasn't off the ship last week is still sitting on the ship.

[Speedy]

GGD wrote:
I think Tariffs are his new Infrastructure Week, it will always be a month away from happening.

This ^^

[cbelt3]

The effect on business is unimaginable. My corporation is global in nature, HQ in Ohio. And this insanity has about a hundred people working frantically to establish systems and records and transactions to cover it, plan on where to make what, what to buy from where, etc. we have a new factory in Mexico that we did NOT bring online after the election.

We don’t know which way to run. And neither do our customers… they are holding their orders for now.

[timg]

He's putting everyone on edge for no good reason.

the stock market hates uncertainty and that's all that is coming out of the whitehouse these days.

[Lemon Drop]

Is the "Golden Age of America" yet?

Someone please let me know don't want to miss it.