What failure? I think this works out fine. Instead of the US spending resources to remove the 'tolls', let those who still want the oil pay the tolls. The rest of the world will increase production and build pipeline; and it will all even out as supply meets demand. Iran will end up out of the loop, and nobody will pay the toll anymore.
And how long do you expect that to take? We'll still be paying higher prices on all petroleum products until those facilities and pipelines are completed.
Trump has bitten off more than he can chew. He expected Iran to cower but they're not. They're forcing his hand and it's making the US look like fools.
Have you met the average Trump supporter? They can't process a single rational thought, let alone figuring out basic economics. Its a miracle they can get dressed by themselves.
My buddy insisted to me that it's the sellers and manufacturers who paid the tariff when I was texting him about the tariff bill I received from FedEx...That gave me "old man yells at cloud" feeling.
Yes. At least, that's my understanding. I paid tariff on certain items when I ordered directly from oversea sellers even before the Trump administration. Some sites like Ali Express will handle everything for you and bake tariff into the price. But some "mom and pop" sellers like Nudie Jeans won't do that (at least not when I ordered from them a few years ago).
I was texting my buddy this time because the recent tariff bill I received is an error of FedEx. Probably because FedEx are also overwhelmed. I ordered a pair of Jeans from Naked and Famous which is manufactured in Canada. So it should be tariff free because of the USMCA. I contacted Naked and Famous and the customer service told me to do nothing and they will contact FedEx. When they shipped, they should have already sent FedEx everything it needed to clear the custom. N&F did mention that it will probably take a while because the customer service of FedEx is also slow these days lol
I told my buddy about this and yet somehow he just insisted that "no the seller pays tariff, you are being lied about"... I get the argument that sometimes sellers will lower the price to eat a certain amount of tariff. But I doubt most businesses have that high profit margin to eat the entirety of the tariff.
I have a few of them unfortunately. One thinks illegals are the cause of all our problems and that tariffs are paid by China et al.
I just want to pull a line from The Dude at times: "Walter, I love you, but sooner or later you're going to have to face the fact that you're a goddamn moron."
We technically don't need the Strait of Hormuz. I think we get like 1-2% of our oil from there. It's just that oil prices are negotiated globally so we have to pay the price when other countries can't get oil
Nah, the US could uncouple itself from the global market, but it'd require the population being okay with losing some benefits of their country's power projection
TheCloseEnemy@reddit
If u run the economics but do. Follow economics thrm wat
Coolenough-to@reddit
What failure? I think this works out fine. Instead of the US spending resources to remove the 'tolls', let those who still want the oil pay the tolls. The rest of the world will increase production and build pipeline; and it will all even out as supply meets demand. Iran will end up out of the loop, and nobody will pay the toll anymore.
TwoPoundzaSausage@reddit
And how long do you expect that to take? We'll still be paying higher prices on all petroleum products until those facilities and pipelines are completed.
Coolenough-to@reddit
Far less than the 47 years we've been dealing with this problem.
SadTumbleweed1567@reddit
Dealing with what problem exactly? Oil has flown freely through the Persian Gulf for decades.
Coolenough-to@reddit
You are ignoring many things that have happened and cost money and lives.
Mastodon9@reddit
Trump has bitten off more than he can chew. He expected Iran to cower but they're not. They're forcing his hand and it's making the US look like fools.
SadTumbleweed1567@reddit
The US is fools. Fools that elected the chief fool to lead them
SadTumbleweed1567@reddit
Have you met the average Trump supporter? They can't process a single rational thought, let alone figuring out basic economics. Its a miracle they can get dressed by themselves.
Born_Assistance4387@reddit
Trump has a degree in Econ. He counts on us being gullible, and not willing to put in the effort to fact check him.
Plussydestroyer@reddit
Maybe Wharton just has a horrendous Econ program.
PuzzleheadedAd6401@reddit
Can't wait for the inevitable comment about how tarrifs are good and going to war with Iran for the 100th time is great for America.
Inevitable-Waltz-889@reddit
My buddy told me today that tariffs aren't a tax.
DVHeld@reddit
I once had a teacher in university that said taxes aren't a cost for businesses.
TargetOk4032@reddit
My buddy insisted to me that it's the sellers and manufacturers who paid the tariff when I was texting him about the tariff bill I received from FedEx...That gave me "old man yells at cloud" feeling.
Inevitable-Waltz-889@reddit
How does that work? Basically you acted as the importer in that case?
TargetOk4032@reddit
Yes. At least, that's my understanding. I paid tariff on certain items when I ordered directly from oversea sellers even before the Trump administration. Some sites like Ali Express will handle everything for you and bake tariff into the price. But some "mom and pop" sellers like Nudie Jeans won't do that (at least not when I ordered from them a few years ago).
I was texting my buddy this time because the recent tariff bill I received is an error of FedEx. Probably because FedEx are also overwhelmed. I ordered a pair of Jeans from Naked and Famous which is manufactured in Canada. So it should be tariff free because of the USMCA. I contacted Naked and Famous and the customer service told me to do nothing and they will contact FedEx. When they shipped, they should have already sent FedEx everything it needed to clear the custom. N&F did mention that it will probably take a while because the customer service of FedEx is also slow these days lol
I told my buddy about this and yet somehow he just insisted that "no the seller pays tariff, you are being lied about"... I get the argument that sometimes sellers will lower the price to eat a certain amount of tariff. But I doubt most businesses have that high profit margin to eat the entirety of the tariff.
Inevitable-Waltz-889@reddit
Your friend, like my friend, is an idiot.
SuperDan_x@reddit
It’s always tough when you have a bud who you otherwise respect, and they fall for this dumb shit.
Inevitable-Waltz-889@reddit
I have a few of them unfortunately. One thinks illegals are the cause of all our problems and that tariffs are paid by China et al.
I just want to pull a line from The Dude at times: "Walter, I love you, but sooner or later you're going to have to face the fact that you're a goddamn moron."
SuperDan_x@reddit
Now, that is just ridiculous Dude, no one's gonna cut your dick off.
Not if I have anything to say about it.
Inevitable-Waltz-889@reddit
https://www.reddit.com/r/Libertarian/comments/1sazasv/comment/oe01v5x/
Lol. Found him.
MindLegal@reddit
But chinnnnna payssssa for tarrriffffs losing militaryyyyyyy people to Iran is gooooooooofd thing - lutnick and beg Seth
DVHeld@reddit
Misplaced Hoppe
Thriftless_Ambition@reddit
We technically don't need the Strait of Hormuz. I think we get like 1-2% of our oil from there. It's just that oil prices are negotiated globally so we have to pay the price when other countries can't get oil
aba994@reddit
so out sounds like we do need it, albeit indirectly
LauAtagan@reddit
Nah, the US could uncouple itself from the global market, but it'd require the population being okay with losing some benefits of their country's power projection
ChrisWayg@reddit
You should have elected a businessman for President,... oh wait. How did the economics of his companies work out?
wgcole01@reddit
Why not both?
ect5150@reddit
It's definitely both.
xxxdddizzyxxx@reddit
BUT TARRIFS ARE GOOD FOR AMERICA
Creative_Visit122@reddit
My friend and I passed with a B+ in highschool econ, the rest of the class failed horribly at best C- for a few...wtf?
MentalStudent3@reddit
Mexico will pay for the wall
MindLegal@reddit
Chiiiiiiiiina payssssa tarrriiifffs 😂😂👹😂😂😂😂
MindLegal@reddit
Stop controlling the market!!!!