An i-Phone made in the USA might cost 3 times as much.
Also because of US labour costs, it would likely be that manufacturers would automate the production lines even more.
More cost = fewer sales, so fewer employees to produce fewer goods plus maybe not as many new jobs as you might expect to make even that many things.
It is not as easy as moving the foreign jobs back to the US.
Let alone the lead time for building a factory.
With Trump moving the goal posts all the time…actually he is changing the rules of the game all over…who will invest loads of cash in buildings, technology and training?
Manufacturers. those who make stuff and make jobs need stability to make plans.
Trump’s mates make cash from buying and selling stock, not from making goods. They can survive and even prosper in chaos. The rest of us can’t.
It’s 10% import duty which is payable on both the goods and the shipping cost and even the shipping insurance ( landed value ).20% VAT is payable on the sum of the above.
How can VAT be the bleedin ‘same’ when 1) it’s levied on the purchase price and the duty and the shipping costs and 2) the US doesn’t apply duty + 20% VAT on its European/Brit imports.?.
The end result is effectively more than 30% import taxes on US products imported here regardless of what you call it, duty and/or VAT.
European exporters don’t have the same tax burden on exports to the US.
Are you incapable of actually understanding an invoice? Import duty is payable as a percentage of the invoice from your supplier. The duty also varies depending on what goods you are importing, they all have separate commodity codes that determine the rate. Not everything you import is subject to duty!! The cost of shipping is not subject to any tariff. VAT is charged against the cost of the invoice from the supplier but, if you are VAT registered, you can claim that back so effectively there is no VAT. You need to pay the VAT before your goods are released but you are sent a certificate from HMRC that you put in your accounts. I can’t make this any more simpler.
Out of interest have you ever imported anything or is this just another subject you think you know about. You seem to be an expert on absolutely everything though so nothing would surprise me.
I actually tried to import a Fox model Mustang through the local Ford agent the order all sent through to Ford US.
Then the salesman told me the cost of duty + VAT payable on the price and possible type approval issues.So another export sale lost to the US car manufacturing industry.
I also imported some Jaguar tuning modification parts aluminium flywheel and clutch kit from GTJ on good trading terms with the company owner Lou Fidanza at the time.
Again duty + VAT payable to UPS was eye watering.
The parts were actually sitting in the customs cage at the depot where I worked.
So you’re saying that US exporters and customers ain’t hit with an overall 30% + tax barrier on landing the goods or at least any goods worth exporting to US industry ?.As opposed to same regarding landing Euro goods in US.
I know of a few firms who would be indignant and even furiously twirling their hands in swarfega at such a insult. Even I can use a manual micrometer correctly.
blimey, even for you that’s a bit of clown quote. VAT here, or purchase tax back in the US is something entirely down to the respective governments. And it’s uniform regardless of where the item is originally sourced from. We’re not paying less VAT on a TV from China than we would for one from England or from Germany. So in no way except for trump university economic students, can our uniform VAT be a import tax on american stuff which the EU evade. Just goes to prove how powerful a magician this trump must be…
Ah, nailed the problem at last…
This salesman, I don’t suppose he gets paid commission on the amount of sales achieved by any remote chance? Salesmen will sell you crooked if you let them get away with it. Gotta know your onions from your shallots, and your turmeric from your saffron.
Some cults operate behind closed doors. The cult of Trump operates on TV.
Just like other cults and like totalitarian states it is obligatory to praise the “dear leader”.
It can be critiqued seriously like this…a bit grim.
Or like this…lighter but same message.
If ever a leader needed a slave whispering in his ear momento mori (you are just a man) this is the one.
@adamale please pm me their names as i might need a pulley and shaft made up.
seriously though haveing worked in some of these places you would be shocked. One of the companies i used to work at made the plastic domes that go over the top of the lights on runways. they needed a hole drilling in them so they used a center drill for the whole thing. Or a friend of mine that got into a fairly good uni to study metallurgy but dropped out after a couple of weeks because he didnt think there would be so much maths
The irony you think that Socialism isn’t a cult and is the solution.
Trump is taking flak from a bunch of pro CCP commies he’s obviously over the target
You seem to have conveniently missed the fact that duty + VAT adds over 30% to the price of a US product landed here.
Which is more than duty + purchase tax on a Brit/Euro product landed in the States.
So Trump is rightly just evening up the score.
So a salesman rightly tells me how much extra that UK taxES will add to a US car import even if he can get over the type approval hurdle .Then predictably lost the sale.That helped his commission payment how ?.
US ‘markets’ they mean all those who have an interest in making and keeping the CCP great and making a quick profit from retailing cheap Chinese crap.At the expense of American workers and pensioners and their health care.
A boorish egomaniac in charge of the free world does not look good for the future. Be interesting to find what he resorts to when it all backfires.
The sycophancy is revulsive.
Chinese factories make goods to the standards set by those ordering and specifying the goods. When a container of widgets arrives the, buyer can reject the goods if they are not up to spec. They are not obliged to sell on the crap.
But some do order by price alone and do not care about quality. They do not care about home production whether they are from the UK, EU, or US. There are some crappy made in China goods sold by unscrupulous traders.
While most of us the west are looking at the Trump fiscal madness, the madness in eastern Europe continues.
Gen Keith Kellogg has said that one way to peace in Ukraine is to divide the country up like Germany and Berlin were in 1945.
Just let Putin have his gains, and also let UK and Euro armies occupy the rest of the Ukraine.
If that was suggested one year ago I would have though it was a sick joke. Now it is all too believable. Hopefully only the Whitehouse sycophants, and Maga cultists, will be taking it seriously.
Only problem with that is that in 1945 Germany was a defeated aggressor, that, so far at least, does not apply to Ukraine, certainly not an aggressor, but sadly some sort of partition may come about simply because you can’t keep throwing soldiers to their deaths in a democratic country against a typical meat grinder attitude with Trump’s mate in Moscow.
