Posted on 04/03/2025 3:26:23 PM PDT by SeekAndFind
Treasury Secretary Scott Bessent made it clear in an interview with CNN that the era of trade imbalances is over, and under President Trump, the U.S. will no longer tolerate unfair treatment.
During a discussion with CNN’s Kaitlan Collins, Bessent confidently explained the administration’s position on tariffs and trade policy, signaling that Trump’s economic strategy is deliberate and well thought out.
When pressed on how the administration’s policies could impact the auto industry, particularly regarding vehicles made with foreign parts, Bessent was blunt.
“If half the cars coming into the United States are foreign-made, that's hard to turn around overnight, as you know,” Collins said. “So what would you say to people in the auto industry who are worried about that timeline and how quickly that could shift?”
“Buy American,” Bessent said bluntly. He also clarified that the United States-Mexico-Canada Agreement (USMCA) exempts certain vehicles and parts from the new tariffs.
Collins attempted to raise concerns from U.S. allies, questioning what the administration would say to countries like South Korea and Japan, which are now facing increased tariffs. Bessent’s response was direct: “Well, I would say they’ve been doing it to us for a long time. And, if they don’t like tariffs, then why do they have them?” His answer underscored the administration’s stance that America has been on the losing end of trade deals for too long.
As for whether the tariffs should be considered permanent, Bessent took a wait-and-see approach. “I think we’re gonna wait and see how this plays out,” he explained, suggesting that adjustments could be made based on how the policy unfolds.
Collins also asked about the possibility of retaliation from other countries. Some foreign leaders have hinted at potential countermeasures, while others have opted to observe before making a move. Bessent urged patience.
(Excerpt) Read more at pjmedia.com ...
What is the mystery?
Name a country that does not want access to the US market?
There are none. Trump is simply pointing out to the nations
of the world that if you wish to have access to the US market
be prepared to either lower your tariffs on US access to your
markets or have your goods “taxed” at comparable rates. And
the few hours that have followed his Liberation Day speech, I
note that a growing list of nations is doing just that: lowering
Their tariffs against US goods. It is interesting that the
US tariff against Chinese goods is roughly 1/2 what the Chinese
tariff is against US goods. I think Trump wants to have some
room to ratchet up the US tariffs in the future. It makes better
sense that the Chinese know that Trump still has room to
inflict an increasing amount of pain to their economy. I am
pretty certain that Trump’s end game is to eliminate tariffs
altogether worldwide. He wants a totally free and fair trading
floor for all goods and all nations, and let the most efficient
and innovative nation win.
He won’t when he says things like he’s willing to negotiate them, which NBC claims he said today.
Ugh. Of course he will win. Too bad Canadians are acting like silly children. Didn’t help the jokes about the 51st state, but the message voters are giving Canada, is they want payback - in which a small country like Canada will lose.
Saying one is “willing to negotiate” is also a useful negotiating strategy.
Why the big drop in the market?? Maybe ordinary folks protecting their 401s. I didn’t look at the volume.
Trump owns the biggest market in the world. There is no one else.
It’s a useful strategy even if you *aren’t* actually planning to negotiate.
From what I saw earlier, it was a lot of the usual institutional investors that were extremely pro-China and pro-globalization-uber-alles getting out of positions that were leaving them exposed.
Trump will win because he gets to define what winning is. There will be wheeling and dealing as countries try to lower their tariff rates. Trump will make some deals, which will push the remaining countries to offer more. The script is obvious. It’s just the details that need to be worked out.
The Trump doctrine of using economic might to alter international bad behavior is far more effective than sabre rattling and feeding the military industrial complex or going to war and sacrificing entire generations of young people. This country was built using tariffs for our first 150 years before the income tax and is prescribed in the Constitution. Kudos to PDJT for returning to a better way.
Grossly oversimplified, and no.
- things adjust
- then numbers adjust
- then things adjust
- then numbers adjust
- then things adjust
Probably, mostly, both columns' values will settle close to being equal, in a range between 8 - 14.
No matter what the liberals say, their economists - nearly all economists - suddenly have a large scale economic event, THE MOTHER OF ALL TARIFFS, dumped in their academic laps.
Huh? Isn't almost any car coming into the United States foreign made? Did Collins mean half of the new cars sold in the US are foreign made?
How has that % varied, year by year, over the last 50 or 70 years?
(A graph or chart would be very nice, if anyone has such!)
If you go to Japan, South Korea, China or India, I’d encourage you to find a car on the streets of these countries that are American. I guarantee you, you’re going to have a hard time finding any.
Here’s Why Trump Will Win the Tariff Standoff
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How many years will it take? And how low will the markets be by then? How many retirement plans will be worthless?
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