Mileage Psycho Posted May 31, 2019 Share Posted May 31, 2019 Another tax for the consumer with this one being $17B, markets in turmoil, and who doesn't think our president isn't an asshole? Quote Trump’s Mexico Tariffs Risk Economic Turmoil Ahead of 2020 Vote President Donald Trump’s threat to impose new tariffs on Mexico unless it stops the flow of migrants into the U.S. could cause massive economic disruption ahead of the 2020 elections and doom his signature renegotiation of a North American trade deal. Trump announced a 5% tariff on all imports from Mexico unless it takes “decisive measures” -- as judged by his administration -- to stem migrants entering the U.S., according to a White House statement. The tariffs would begin June 10 and scale up incrementally until they reach 25 percent on Oct. 1. The surprise move rattled global financial markets as investors were counting on slow but steady progress toward congressional approval of the U.S.-Mexico-Canada Agreement that Trump’s team negotiated to modernize the North American Free Trade Agreement, which went into effect in 1994. Trump’s sharply worded statement describing alleged consequences of lax border security blamed Mexico and Democrats -- the two groups that have the most control over his trade deal’s fate. These tariffs represent a de facto dismantling of Nafta, which could unite a broad coalition of manufacturers, farmers and bipartisan lawmakers against the president the year before he seeks re-election. Earlier: Trump Pushes USMCA Approval Plan in Move That Irks Pelosi The Mexican peso weakened by as much as 3% after Trump’s tweets, while investors fled to the safest assets as concerns over new trade conflicts mount. The Japanese yen gained while U.S. futures tumbled and 10-year Treasury yields reached a fresh 20-month low. By using tariffs to score political points on border security with the element of his voter base most opposed to illegal immigration, Trump jeopardizes a real legislative win and the economic growth that continues to prop up his popular approval. Iowa Senator Chuck Grassley, the Republican chairman of the Senate Finance Committee, which has authority over trade policy, said “following through on this threat” will put the USMCA at risk, dashing the chance for Trump to fulfill one of his central campaign pledges. “Trade policy and border security are separate issues,” Grassley said in a statement. “This is a misuse of presidential tariff authority and counter to congressional intent.” ‘Cloud’ Over Deal The tariff announcement came on the heels of another decision from the Trump administration to send a draft notice of the USMCA to Congress before House Speaker Nancy Pelosi had finished smoothing over outstanding issues with her caucus. While the draft, known as a Statement of Administrative Action, merely starts a minimum 30-day review period, Pelosi said rushing the timeline was “not a positive step.” “It indicates a lack of knowledge on the part of the administration on the policy and process to pass a trade agreement,” Pelosi said in a statement. “We have been on a path to yes, but it must be a path that leads to an agreement that delivers positive results for American workers and farmers.” Democrats have praised U.S. Trade Representative Robert Lighthizer for his willingness to work with them to resolve concerns about provisions regarding labor, the environment, pharmaceuticals and enforcement. While Lighthizer said in a letter to Pelosi Thursday that the draft submission is a “procedural formality” that will not affect the negotiations or the timeline, members of the House Ways and Means Subcommittee on Trade had a darker assessment. ‘Casts a Cloud’ “I want to be clear -- this casts a cloud over the process,” Oregon Representative Earl Blumenauer, the trade subcommittee chairman, said in a statement. Virginia Democrat Don Beyer, also a member of the trade panel, cited both the tariff threat and the draft statement of the agreement as evidence that the Trump administration is going back on promises made to House Democrats as they negotiate a deal that has sufficient support to clear both chambers of Congress. “The obvious conclusion is that President Trump does not really want to pass a new Nafta,” Beyer said. Emergency Powers Acting White House chief of staff Mick Mulvaney told reporters on Thursday night that the tariff decision wasn’t part of a trade dispute but about the immigration problem. He said if the White House gets enough cooperation from Mexico over the coming weeks to address illegal border crossings, the tariffs will either not take effect or will be lifted swiftly. The Trump administration reached out to congressional Republicans before the announcement, Mulvaney said, and some lawmakers supported the tariff threat to tighten border security. He said others questioned the authority for this action under the International Emergency Economic Powers Act, but “we feel like we were able to get them more comfortable with that.” Citing emergency provisions in U.S. law has been a pattern for Trump to bypass Congress on other issues such as spending taxpayer money and arms sales to Saudi Arabia. He previously used a national security justification to impose steel and aluminum tariffs on Canada and Mexico, and threatened duties on autos and auto-parts imports. Read More: U.S. Proposes Tariffs on Nations With Undervalued Currencies Senator Lindsey Graham, a South Carolina Republican, was among those who said the “border disaster” justifies the tariffs designed to push Mexico to “up their game” against migrants from Central America. “I don’t like tariffs but in this case it is a national security issue and Mexico needs to change their behavior,” Graham said on Twitter. Michigan Representative Justin Amash, who after reading Special Counsel Robert Mueller’s report became the only Republican lawmaker to publicly say Trump may have committed impeachable offenses, flatly rejected the president’s argument that other countries bear the cost of tariffs on goods imported to the U.S. Many of his Republican colleagues, together with pro-trade Democrats, oppose tariffs as a tax on American consumers. “The president is unilaterally imposing the equivalent of a 17 billion dollar sales tax which sounds not very free market-y to me,” Senator Brian Schatz, a Hawaiian Democrat, said on Twitter. Criticizing Trump’s Make-America-Great-Again motto, he said “I guess MAGA is like a wand you wave to make all of your previous principles disappear.” With assistance from Daniel Ten Kate. https://www.msn.com/en-us/news/politics/trumps-mexico-tariffs-risk-economic-turmoil-ahead-of-2020-vote/ar-AACbVbl Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 31, 2019 Share Posted May 31, 2019 He is a 5 time bankrupt champion ya know. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 31, 2019 Share Posted May 31, 2019 It’s a race to the bottom. Awesome!!! The economic chickens should come home to roost just in time. 25% Mexican tariffs by autumn. America families will love the new food prices. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 31, 2019 Share Posted May 31, 2019 We’re all dead!!!!! Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 31, 2019 Share Posted May 31, 2019 well you cunts don't want a wall . you cunts don't want to build more camps to house the people who rush the border untill trial . you cunts don't want kids in jail with the people they came over with. you bitch about diverting military money to border security. you bitch when privet citizens patrol the border and file suits to stop that. so what do you think is left on the table because open borders are not a option. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 31, 2019 Share Posted May 31, 2019 18 minutes ago, Ez ryder said: well you cunts don't want a wall . you cunts don't want to build more camps to house the people who rush the border untill trial . you cunts don't want kids in jail with the people they came over with. you bitch about diverting military money to border security. you bitch when privet citizens patrol the border and file suits to stop that. so what do you think is left on the table because open borders are not a option. Do you read what you post? Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 31, 2019 Share Posted May 31, 2019 2 hours ago, Mainecat said: Do you read what you post? yes so what is left to do ? what do you think needs to happen at the border Quote Link to comment Share on other sites More sharing options...
Snake Posted May 31, 2019 Share Posted May 31, 2019 I'll be bringing thread back to life in short order.... Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 31, 2019 Share Posted May 31, 2019 18 minutes ago, Snake said: I'll be bringing thread back to life in short order.... Poor Vince Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 31, 2019 Share Posted May 31, 2019 1 hour ago, Ez ryder said: yes so what is left to do ? what do you think needs to happen at the border More agents to process the asylum seekers not less like Trump is doing. Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 31, 2019 Share Posted May 31, 2019 3 minutes ago, Mainecat said: More agents to process the asylum seekers not less like Trump is doing. Shut up stupid Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 31, 2019 Share Posted May 31, 2019 Just now, Mainecat said: More agents to process the asylum seekers not less like Trump is doing. they are prosesing them just fine courts are booked up for yrs with tbis bull shit . and let me guess you like it when we let them go in to the United States untill trial that 89% never bother to show up for . why well you alreay know because they know there excuses are bullshit and will be sent back . I have a idea . close the fucking border and deal with assilum seekers just like we do with people who can't just walk here . nice and orderly . no detention camps . no people not showing up for trail no cutting in line Quote Link to comment Share on other sites More sharing options...
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