- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
cross-posted from: https://lemmy.world/post/35098148
At least 25 countries have decided to suspend package deliveries to the United States, as concern grows over the impact of U.S. President Donald Trump’s looming tariffs, a UN body said Tuesday.
The Trump administration said late last month that it will abolish a tax exemption on small packages entering the United States from August 29.
The move has sparked a flurry of announcements from postal services, including in France, Britain, Germany, Italy, India, Australia and Japan, that most U.S.-bound packages would no longer be accepted.
The United Nations’ Universal Postal Union said it had already been advised by 25 member countries that their postal operators “have suspended their outbound postal services to the U.S., citing uncertainties specifically related to transit services”.
It said the suspensions will remain in place until there is more clarity on how U.S. authorities plan to implement the announced measures.
The UPU did not provide a list of postal services it had heard from.
Yeah i really don’t think the majority of the population realizes how delicate the global trade system is.
Just recently on August 19th, ALL parts with steel or aluminum in them are tariffed an additional 50%. This covers hundreds of thousands of products we all purchase, and there is ZERO chance of them being manufactured in the USA. This will ruin most of the US economy for those parts as prices skyrocket.
Make sure to buy your car parts NOW before the warehouses are empty and they have to reorder at a 50% higher cost. The tariff covers all car parts including oil filters.
The media is very quiet about this, and we all know why.
Your claims are exaggerated
Bloomberg can’t make estimates because they don’t know where tariffs will end up. No one does, hence the uncertainty that is hurting the market.
407 product categories. Read that again. Not 407 products, categories.
The US imports 44% of its Aluminum and cannot supply that itself within the next decade even with increased investments.
The media is dead silent on thousands of small businesses that have already folded. Thousands more will go out of business in the next year.
https://www.piie.com/research/piie-charts/2019/us-china-trade-war-tariffs-date-chart
Sidestepping how incompetent it is to be changing tariff policy daily, yes I would say America imports “hundreds of thousands” of products containing steel/aluminum
which is probably where Bloomberg pulled .15% from, and again this doesn’t factor in the foreign retaliation to this idiocy,
but also
so a linchpin of this economic ‘plan’ will be tossed if/when the appeal is up
so with all imports being taxed a minimum 10% (from direct consumer to those foreign raw materials those Nucor and Cleveland-Cliffs plants need) I don’t see who would defend this money-losing system, unless you’re really excited for the federal government to have a larger operating budget for some reason, or you own a Nucor/Cleveland-Cliffs plant where you can push increased costs onto the consumer and ride the stock price up alongside it.