Donald Trump the Megathread part II - mod warnings in OP, Updated 18/03/25

Tariffs are the only tool in his box without relying on Congress. But he seems to be using these on-again-off-again tariffs to get some leverage. Very few are implemented. His credibility is already in tatters re tariffs. There was supposed to be a Senate vote yesterday on revoking the proposed Canada tariffs because the underlying reason (fentanyl) was a lie. It got pushed to today.

I think he will waffle about big tariffs again tonight but I don't see US actually implementing them to any great degree. I am most interested in learning what he actually wants in concessions from EU etc. He may not actually know himself but he might give us more clues into his mindset. It could be a complete anticlimax.

i dont think he has much understanding of anything unless its to do with himself…i get the feeling most of his "best,biggliest" ideas pop into his head when hes sitting on the pot…

If the EU put a tariff on US pharma, would US pharma companies keep their European operations open and simply make the drugs here instead, thus avoiding the tariffs as the products themselves would be EU made, and thus not subject to a tariff?

And judging by news stories, such as China/Japan/South Korea joining together to combat US tariffs, the UK increasingly wanting asking is America trustworthy, Canada and Europe flirting about an improved trade and energy deal, the EU talking about investing more in Africa, all these stories popping up, am I the only one looking at this whole Trump driven tariff war against the world to get the impression that the rest of the world is now looking at America and saying to themselves "you know what, we don't actually need anything from them" and that all these tariffs will amount to is no-one trusting America and moving away from them?

Yes I'm hoping that would be the case and its not just blanket reciprocal tariff by EU on us pharma even located in the EU and supplying to EU market.

Yes that would be fine as long as not blanket tariff on us pharma regardless of base.

The last time the USA tried something like this in 1930, it ended in tragedy for it's people. Especially the poorer in society. And it never fully recovered until they ramped up military production for WW2.

Look at him talking about giving interest paid on US-made cars as a tax deduction.

'I think it will pay for itself'. He doesn't know if it will, or even how it would. He made up something in his head and had to announce it. Then he walks away and hopes that someone will work out the policy.

Everything he does is like that.

https://www.breakingnews.ie/ireland/pharmaceutical-exports-could-be-cut-by-half-if-tariffs-applies-tanaiste-warns-1746907.html

Mod edit: just modified the link for better visibility

It's a silly headline and Harris was waffling.

Here is what he actually said...

He added: “In theory, over a five-year period, if the EU imposed a tariff of around 20 per cent and the US imposed a tariff around 20 per cent you could, over a five-year period see a very significant reduction up to around half in the amount of pharmaceutical products we’re exporting.

If my auntie had balls she would be my uncle.

Let's wait for the detail and actual implementation before wild speculation. We don't need the Covid style fear mongers and theatrics in Ireland.

How exactly have we been stealing tax? Explain it clearly with examples and facts.

Who's arm did we bend backwards to make all these companies set up in Ireland?

Should we do the right thing and give back all the corporation tax we have received over the last 20 years or so?

What about corporation tax? Ours is lower than theirs but so what? We structured our tax system to incentivise companies moving here specifically for EU office purposes if they wanted to fight that they could have dropped their tax rate to stop us.

Their income tax is lower than ours, are they conversely stealing tax from us by encouraging workers to move over there with a lower income tax?

Also while their corporation tax is listed at 21% its effective rate is often times far far lower, Amazon, Apple and Google to name 3 big examples pay nowhere close to 21% corporation tax in the states, Amazon for example paid just 6% in 2021.

Honestly i don't believe you know what you are talking about and have read some buzzwords and phrases like "double irish" etc