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Hey you 'muricans ... get those Swiss watches pronto
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Archer
·I was going to throw a joke in there about the islands completely populated by penguins, but...
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LesXL
·So new watches more expensive... Interests will shift more to vintage and a new bubble will start
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p4ul
·I would assume that some of the big numbers associated with very poor countries have little to do with tariffs, but the fact that low wages leads to cheap goods, e.g. clothing from Cambodia. And because the country is so poor, there's little hope that they will import much from the US to reduce the imbalance.
https://www.theguardian.com/us-news...nd-flawed-tariff-calculations-stun-economists
Edited:
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Evitzee
·All I know is my 401k is hemorrhaging and my portfolio dropped 6% in after hours trading.
This doesn’t feel like winning.
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wagudc
·I completely understand your logic in your point 1. @Archer. It seems to be an excellent example of "tariffs hurt everyone." Regarding point 2, I am saddened and embarrassed how our country is treating our longest and best allies.
Back to watches, I believe that the de minimus exemption on goods valued under $800 still applies to imports from all countries except China. Can anyone else confirm this? I have bought a number of watches for less than $800 internationally and have not had to pay any tariffs. I hope that this will continue.
Back to watches, I believe that the de minimus exemption on goods valued under $800 still applies to imports from all countries except China. Can anyone else confirm this? I have bought a number of watches for less than $800 internationally and have not had to pay any tariffs. I hope that this will continue.
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M'Bob
·2 - the other reason, which I won't say a lot about because it's political, but it's a matter of principle. I think it might be difficult for people in the US to truly understand how much this has changed the relationship between the US and Canada on a very visceral and individual level, so to speak. I doubt we will ever go back to the way things were...
I've turned down many US watches already, and for the most part the people asking me understand my reasoning, even if they are disappointed. I make it clear it's nothing personal, and they get it.
Regarding point 2, I am saddened and embarrassed how our country is treating our longest and best allies
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hansmaulwurf
··Senior Snoopy OwnerI got what I want - I don’t care cause I am an austrian guy (free trade zone) 😎
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Matt-998
·Psssst - want to buy a quality Swiss watch - tariff free - arrived only yesterday..quality guaranteed. ....😉
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Foo2rama
··Nowhere near as grumpy as he used to be...In situations like this it is best to ignore your investments, unless you are actually going to trade in this environment, and let things settle out. I remember back in 2020 the markets dropped like a stone after the world hysterically decided to shut down business and have everybody stay home. Things recovered quickly and the losses were quickly made up. Same thing today, there are great opportunities to buy if you are brave enough, but for most people it is better to just remain calm and let things play out. I went into my accounts last night to print out March's reports but they weren't posted yet, but there is no way I'm going to look today. I know my positions have been rocked today but quality investments will do well in the long run. Stay the course.
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ErichPryde
·I would add this: keeping congenial relationships amongst the populace of both countries, despite the misgivings of any of the associated leadership, goes a long way to help mend fences, and affront bad policies.
I strongly agree, which is why I completely understand Archer's decision, as much as I wish it weren't so. Keeping congenial relationships is obviously about understanding but it has to be built on mutual respect as well (and I'm not saying you don't have that respect- please understand that- this is just my thoughts on the situation). I understand decisions made upon principles. I do my best to do the same every day.
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Archer
·I would add this: keeping congenial relationships amongst the populace of both countries, despite the misgivings of any of the associated leadership, goes a long way to help mend fences, and affront bad policies.
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ErichPryde
·Oh I am calm, but I lived through the 2008 crash, and it was not a quick recovery.
Right, that's the thing. The saying "It's always different (but the same)" has some value when examining the stock market, but the differences are important. The American Stock Market is the most heavily invested in the world because of how America is viewed, in large part, as the World's Peacekeeper and caregiver.
We're not just upsetting our neighbors with tariffs and impacting trade, we're impacting American business. We're not just dismantling government agencies, that action is directly impacting tourism draws, which means tourism and business are both being attacked in more than one way. Add in the travel warnings being issued, and you have a third. And yes, tourism is only around ~3% of US GDP, but it's only one part of the equation.
As far as American exceptionalism is concerned, dismantling outreach like USAID means other countries (like China) can swoop in and be seen as the world's caregiver. Europe has to figure out how to increase spending on defense, but if they're not buying arms from America, that impacts industry. Beyond the very obvious impact that tariffs/this environment has, I think there are many, many subtle impacts beyond those listed here. When money is actively flowing out of the market as opposed to being destroyed by it, it's going somewhere else. Normally it has a reason to flow back into the NYSE. It's worth actively asking whether this is just a hiccup or the start of a larger trend, however. Either way, it is not 2020.
I'm not trying to be alarmist- I'm not killing off positions or panicking. I rarely talk stocks here. But it's very much worth examining some of the more subtle impacts many of these actions will have, beyond the obvious, before we find ourselves in a hole that is much, much harder to dig out of.
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Archer
·I strongly agree, which is why I completely understand Archer's decision, as much as I wish it weren't so. Keeping congenial relationships is obviously about understanding but it has to be built on mutual respect as well (and I'm not saying you don't have that respect- please understand that- this is just my thoughts on the situation). I understand decisions made upon principles. I do my best to do the same every day.
I will add that I didn't come to this decision lightly. I have many good repeat customers here and elsewhere that are based in the US, and that I truly do not want to disappoint by turning them away. Again these are people that are more than just customers to me. We just don't talk watches, but all kinds of things, like SCTV episodes!
But in the end we didn't ask for this - in fact we negotiated "the best agreement in history" last time around, which now seems to be terrible for some reason. All we can do is respond the best way we can as individuals, and this is part of my response.
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ErichPryde
·Thank you.
I will add that I didn't come to this decision lightly. I have many good repeat customers here and elsewhere that are based in the US, and that I truly do not want to disappoint by turning them away. Again these are people that are more than just customers to me. We just don't talk watches, but all kinds of things, like SCTV episodes!
But in the end we didn't ask for this - in fact we negotiated "the best agreement in history" last time around, which now seems to be terrible for some reason. All we can do is respond the best way we can as individuals, and this is part of my response.
What about Murdoch Mysteries though? That's up there with Elementary, Star Trek TNG, and Stargate SG-1 in terms of my favorites.
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ErichPryde
·Wait- we're supposed to be talking about Swiss watches.
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gatorcpa
··ΩF InvestiGatorI’m still trying to work out if it applies to vintage watches shipped from here as I’ve got two I’m planning on letting go later this year. Not sure if it applies at all to used goods, and if it comes from Australia but is Swiss, does it get 10% or 31%.
Since presumably you paid a tariff rate on the watch when you imported it into Australia, the buyer would pay the rate on imports from Australia to their country.
It does not matter where the watch was originally made. For tariff purposes, it is being imported from Australia.
gatorcpa
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Matt-998
·Ash -
Since presumably you paid a tariff rate on the watch when you imported it into Australia, the buyer would pay the rate on imports from Australia to their country.
It does not matter where the watch was originally made. For tariff purposes, it is being imported from Australia.
gatorcpa
I suspect that is why tariffs have been applied to "Penguin Island, Nowhere's Ville" - where no one actually lives - to stop someone from building an import / export office there and re-exporting $100 billion worth of stuff to the US tariff free.
