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YY77
·There is even Republican support in Congress to not tariff Canada specifically, so I expect that to be resolved soon.
https://www.politico.com/live-updat...move-to-block-vote-on-trumps-tariffs-00223947
Hey you 'muricans ... get those Swiss watches pronto
https://www.politico.com/live-updat...move-to-block-vote-on-trumps-tariffs-00223947
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gatorcpa
··ΩF InvestiGatorTariffs are the purview of Congress, and if things get bad enough, Congress can end the President's ability to set tariffs at any time.
Congress will not have the supermajority needed to override regardless of how bad it gets.
gatorcpa
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texasmade
·All American watches have parts globally sourced, no? Same with , well, essentially everything made in the states.
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Dr.Sascha
·K karl42Since this is a watch forum I think it's best to avoid getting too political (the rolex forum seems to be banning discussion of the tarriffs at all), but I certainly am not at all surprised at any of this, including the tariffs. I even stocked up on champagne after the election, since I figured tariffs were on the way. This was a campaign promise.
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Dan S
·All American watches have parts globally sourced, no? Same with , well, essentially everything made in the states.
And TBH, some of our trade imbalances are due to the same dynamic. People in other countries just don't want to buy certain American products, not because of price protections, but because they don't like many American products, or they have different tastes and preferences.
Peter Navarro was doing an interview yesterday and responded glibly to questions about price increases by saying that Americans should simply buy things that are made in America. Good luck with that. I'm sure Soviet citizens were thrilled with their choice between Lada and Volga. Personally, I'm not interested in American watches.
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JPE.88305
·yes I agree. And I'm not entirely understanding how we're supposed to suddenly develop US manufacturing… We don't have the infrastructure, we haven't for decades, it's all been shipped overseas. Even if there is financial incentive to make stuff here, the investment to create new manufacturing infrastructure would be astronomical.
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Davidt
·There’s a reason Ford made/makes different cars for the EU and UK, we don’t generally buy typical US cars as they’re too big, guzzle too much petrol and can’t corner properly.
Exactly, who’s going to invest capex with a payback of say 25 years when all this might be reversed in 4 months, 4 years etc.
yes I agree. And I'm not entirely understanding how we're supposed to suddenly develop US manufacturing… We don't have the infrastructure, we haven't for decades, it's all been shipped overseas. Even if there is financial incentive to make stuff here, the investment to create new manufacturing infrastructure would be astronomical.
Exactly, who’s going to invest capex with a payback of say 25 years when all this might be reversed in 4 months, 4 years etc.
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Dan S
·Exactly, who’s going to invest capex with a payback of say 25 years when all this might be reversed in 4 months, 4 years etc.
The most I can imagine is that manufacturers might choose to keep some facilities open that they were going to shut down. Or if they were considering a US vs. offshore manufacturing plant, they might go with the US choice. But some products simply can't be made economically in the US (textiles, shoes, consumer electronics), and in other cases, the break-even point is so far removed that it would be incredibly foolish to chase it.
This motivation (i.e. bringing back US manufacturing dominance) is so unrealistic, that I have to believe it's just a smoke-screen. There must be some other unspoken motive for the tariffs. And don't tell me that it's revenue-generation, because that's going to be much less than the estimates as imports plummet, and everyone knows that also.
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texasmade
·Such a key point.
The most I can imagine is that manufacturers might choose to keep some facilities open that they were going to shut down. Or if they were considering a US vs. offshore manufacturing plant, they might go with the US choice. But some products simply can't be made economically in the US (textiles, shoes, consumer electronics), and in other cases, the break-even point is so far removed that it would be incredibly foolish to chase it.
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Foo2rama
··Nowhere near as grumpy as he used to be...It’s totally logical they will build plants on more expensive US land, and pay US workers the same wage they would pay foreign workers!!!!
Any stable genius can see this!!!
Any stable genius can see this!!!
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pdxleaf
··So on and so on and scoobie doobie dooTwo things concern me more than not being able to produce silverware in the US or paying more for a watch: one is the dismantling of scientific research, and the second is global peace.
The US had exported scientific research through the support of governmental grants and federal facilities, which helped drive new technology worldwide. We are dismantling this jewel in exchange for attempting to make steel.
Open trade helped stabilize the world and reduce global warfare, notwithstanding arms exports and civil wars and Middle Eastern conflicts. The growth of economies across the world was a US export and one reason why my grandfather was in two world wars and I have not been.
The US had exported scientific research through the support of governmental grants and federal facilities, which helped drive new technology worldwide. We are dismantling this jewel in exchange for attempting to make steel.
Open trade helped stabilize the world and reduce global warfare, notwithstanding arms exports and civil wars and Middle Eastern conflicts. The growth of economies across the world was a US export and one reason why my grandfather was in two world wars and I have not been.
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Dsloan
·Two things concern me more than not being able to produce silverware in the US or paying more for a watch: one is the dismantling of scientific research, and the second is global peace.
The US had exported scientific research through the support of governmental grants and federal facilities, which helped drive new technology worldwide. We are dismantling this jewel in exchange for attempting to make steel.
Open trade helped stabilize the world and reduce global warfare, notwithstanding arms exports and civil wars and Middle Eastern conflicts. The growth of economies across the world was a US export and one reason why my grandfather was in two world wars and I have not been.
On the less existential side of the conversation. I was preparing to buy my second new (vintage) watch of the year but I'm keeping my fun money in the money market fund for now. So, there's one anecdote about how these policies are already affecting discretionary household spending.
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pdxleaf
··So on and so on and scoobie doobie dooI share many of the sentiments being discussed here. Smart trade policy is a net good for humanity.
On the less existential side of the conversation. I was preparing to buy my second new (vintage) watch of the year but I'm keeping my fun money in the money market fund for now. So, there's one anecdote about how these policies are already affecting discretionary household spending.
It's a small sacrifice, so no need to thank me. No, really, you're too kind, just doing my part.
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JPE.88305
·If Apple decides to make their iPhone here, the cost for a phone is either going to be absurdly expensive, or a much larger percentage of that cost is going to go to pay a US based workforce which will tank the company/stock value. Either way a losing situation for US consumers and investors both.
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ErichPryde
·one is the dismantling of scientific research
The outflow we're already seeing of scientific minds should be incredibly alarming to everyone stateside and it greatly alarms me. The United States has always had a bit of an anti-intellectual righteousness about it, but it has perhaps never been worse than it is today. We understood the importance of scientific research during the end of WWII well enough to "recruit" as many German scientists as possible (probably many here are familiar with Operation Paperclip). Being a world-leader in scientific research... the importance of that cannot be stressed enough, and beyond the current loss of life we're seeing due to anti-science leaning.
Stock market outflows and losses are obvious in comparison and may not be permanent, but once people move and set up a new life elsewhere, it's very difficult and costly to get them back.
....not sure if anyone here has read Science as a Candle in the Dark (Sagan) but I can't recommend it strongly enough today. Not something that people here need to read, and something that won't be read by the people who need to read it. Unfortunately.
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ErichPryde
·I relate to this so strongly that I don't even trust myself to comment. Fortunately, it's not related to tariffs, so not appropriate for this thread. 😉
Exactly. there's so much more that I'd like to say in my comment.
