Community Stories

US Tariffs on Switzerland

The Father
Posts
2,792
Likes
14,850
SC1 SC1
I want to disagree with you but then my mind remembers all those super caring, amazingly empathetic, corporations and companies saying, "No!! Our prices are only going up because of the supply chain," during the pandemic, "as soon as we get through this together they will return to where they were"...

and they never have nor will.

Until the majority, that would be 51% of any group that supports a product, stops and says "fυck you" with their buying dollar, nothing is going back down. It's the nature of Mankind - greed, and it's definitely the nature of Capitalism.
I was gonna say something but decided not to.
Anyway when I hit the ol’ grocery store I don’t care to look at prices. Just when I get my total at checkout and see the couple bags (plastic not paper) and think how do people make it.
Glad I don’t care what stuff costs regardless of tariff amounts.
In LV this weekend, all the watch dealers at Venetian and Wynn full of watches so I guess the supply is flowing
 
river rat
Posts
1,094
Likes
5,727
You know they say that the tariff cost every American 1500.00 bucks a year we should do a class action lawsuit and if it won it might teach the fools who did this to us a great lesion. 1500.00 paid to every American would make them fools who did this to us feel like idiots they are.
 
The Father
Posts
2,792
Likes
14,850
river rat river rat
You know they say that the tariff cost every American 1500.00 bucks a year we should do a class action lawsuit and if it won it might teach the fools who did this to us a great lesion. 1500.00 paid to every American would make them fools who did this to us feel like idiots they are.
Who is they? Usually the OF crowd demands a study or statistical proof. Ask Tony C
 
gatorcpa
Posts
13,310
Likes
18,424
The Father The Father
Who is they?
They is you. Just because you choose not to keep track of something doesn’t mean that it doesn’t exist.

Understand that tariffs are nothing more than a regressive tax on consumption that hurts the people who have to spend a greater percentage of their income. Hardly a way to have a healthy economy for all.

The factories aren’t coming back. This is because companies need years of political stability to obtain and zone land, get approval for construction, build a building, then hire the right people to staff the factory. It is likely whoever the next president will be will roll back these ill-conceived policies. Companies are not going to over commit.

gatorcpa
 
Porteroso
Posts
847
Likes
2,698
gatorcpa gatorcpa
They is you. Just because you choose not to keep track of something doesn’t mean that it doesn’t exist.

Understand that tariffs are nothing more than a regressive tax on consumption that hurts the people who have to spend a greater percentage of their income. Hardly a way to have a healthy economy for all.

The factories aren’t coming back. This is because companies need years of political stability to obtain and zone land, get approval for construction, build a building, then hire the right people to staff the factory. It is likely whoever the next president will be will roll back these ill-conceived policies. Companies are not going to over commit.

gatorcpa
NVM
Edited:
 
SC1
Posts
1,954
Likes
5,908
No matter how old I get, and have become, there are a few truths that are inescapable -

1. People will do what they do more because of conditioning than logic.
2. When logic kicks in only the select few will stop and ponder their conditioning.
3. Logic seldom kicks in.
 
The Father
Posts
2,792
Likes
14,850
They say the tariffs increase income of Americans because of more job opportunities.
 
sheepdoll
Posts
2,842
Likes
4,537
... in 30 years time, when many of us are no longer around anymore ...
Edited:
 
AG77
Posts
340
Likes
642
We're getting sold a revival of blue-collar industrial America - but today’s manufacturing looks very different than 1975.

Modern factories are capital intensive, not labor intensive.
 
Pastorbottle
Posts
2,781
Likes
4,693
The Father The Father
They say the tariffs increase income of Americans because of more job opportunities.
Would these be the job opportunities that will getting eliminated by AI anyway?
 
Vercingetorix
Posts
3,947
Likes
6,768
Just walked through customs. Took my picture and asked if I had food/perishables. No mention of purchases or paying tariffs. I’m sure the guys on the line don’t even know what to charge.
 
Archer
Posts
29,671
Likes
76,830
FedEx is suing to recover all the emergency tariffs...

"Global shipping giant FedEx has gone to court demanding its money back after President Donald Trump’s emergency tariffs were ruled illegal.

The company filed its lawsuit on Monday in the Court of International Trade, seeking a full refund of the duties it paid under Trump’s tariff plan."

"In its filing, FedEx was blunt.

‘Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States,’ the company said in the lawsuit.

FedEx argues it was forced to pay tariffs that the nation’s highest court has now declared unlawful - and it wants every dollar returned."

No details on what they intend to do with that money, but if these are the tariffs they paid on behalf of customers, they would hopefully be returning them to those customers.
 
pdxleaf
Posts
6,190
Likes
21,195
Archer Archer
No details on what they intend to do with that money,
It's all such a mess.

Fedex owes me a few bucks. They were worse than UPS, DHL and USPS. FedEx had a watch of mine stuck in customs for almost 6 weeks while only shipping between the US and Canada. I sent it for servicing and they charged duty as if it was a sale. Every time I talked to their customer service I had to start all over in trying to explain the situation.

Besides just whining, I have a one percent expectation of ever seeing any refund. Pretty sure the lawyers will make out, though.
 
Dan S
Posts
24,250
Likes
53,996
I heard about the FedEx lawsuit and I was a little confused. It seems to me that FedEx pays customs duties and is then reimbursed by the customer. So are they suing with the intention of reimbursing customers?
 
gatorcpa
Posts
13,310
Likes
18,424
Dan S Dan S
It seems to me that FedEx pays customs duties and is then reimbursed by the customer. So are they suing with the intention of reimbursing customers?
Which customers? The importer or the consumer? FedEx could be a customs agent for either one depending on the circumstances.

I have clients asking the same question and even the attorneys who handle customs law aren't sure yet.

FedEx is filing a "protective claim". They are filing this with the Court of International Trade to prevent a statute of limitation from running out the clock on their claim. I skimmed the filing and it seems that the statue of limitation with respect to customs claims is quite short, possibly two years or less.

I suspect there will be thousands of similar claims filed until the US government determines a procedure for granting refunds. Given some of the statements coming from our "fearless leader" and his henchmen, this procedure will not be determined anytime soon.
gatorcpa
 
Dan S
Posts
24,250
Likes
53,996
gatorcpa gatorcpa
Which customers? The importer or the consumer? FedEx could be a customs agent for either one depending on the circumstances.

I have clients asking the same question and even the attorneys who handle customs law aren't sure yet.

FedEx is filing a "protective claim". They are filing this with the Court of International Trade to prevent a statute of limitation from running out the clock on their claim. I skimmed the filing and it seems that the statue of limitation with respect to customs claims is quite short, possibly two years or less.

I suspect there will be thousands of similar claims filed until the US government determines a procedure for granting refunds. Given some of the statements coming from our "fearless leader" and his henchmen, this procedure will not be determined anytime soon.
gatorcpa
Yeah, I was thinking of the direct customer, so the importer, but I see what you are saying. The costs were passed down the line in complicated case-by-case ways. And it makes sense for FedEx to sue, because they may be sued by importers, who may be sued by their customers, etc.
 
gatorcpa
Posts
13,310
Likes
18,424
Justice Kavanaugh said it was going to be a mess, and he was correct. However, that alone was not a good reasoning for dissent.
gatorcpa
 
Vercingetorix
Posts
3,947
Likes
6,768
FedEx at the very least has a claim for increased labor costs.
 
Archer
Posts
29,671
Likes
76,830
Vercingetorix Vercingetorix
FedEx at the very least has a claim for increased labor costs.
That's leads me to the question I have been pondering all day. Even if they are suing to get back the money they sent to the government on behalf of customers, and intend to give that money back to customers, will they withhold money for covering their costs? Not just the cost of compliance while they were collecting, but the cost of the lawsuit?
 
gatorcpa
Posts
13,310
Likes
18,424
Archer Archer
That's leads me to the question I have been pondering all day. Even if they are suing to get back the money they sent to the government on behalf of customers, and intend to give that money back to customers, will they withhold money for covering their costs? Not just the cost of compliance while they were collecting, but the cost of the lawsuit?
I don't think anyone knows that answer yet, even FedEx. If you read the filing, there isn't even a dollar amount there. Probably because they haven't computed it yet.
gatorcpa
 
16 More Posts...
Sign up or log in to reply...

Similar threads

Tony C.

A Unique Vintage Longines, and its Connection to One of the “Princes of Precision”

Tony C. Longines Watches
omegastar
omegastar
Posts
39
Views
23K