₦airaland Forum

Vlibray:
Before you rush to comment, make sure you check how much tariffs those countries are charging the US.
Checked ?
Then stop whining !

Before you defend like illiterate, make sure you think logically,......if Nigeria and US tax themselves "equally", ITS ADVANTAGE FOR USA, BECAUSE USA HAS "COMPARATIVE ADVANTAGE" OVER US, THEIR PRODUCTS WOULD BULLDOZE THEIR WAYS INTO NIGERIA MARKETS AND PERISH THE REMAINING LIFELINES OF OUR FRIGILE ECONOMY.

Kennyfancy:
The deal is fair, most of these countries are living off 🇺🇸 and 🇺🇸 is saying no, how can you put tariff at 99% against usa and you don't want same back

which country put tariff at 99%
Can u stop swallowing Trump bullcrap

sharone21:
All these external economic confusions will only make our Naira stronger since $ will really be SHAKEN.

But you know when it comes not naija, there is always kleg. The last increase in oil prices when oil producing countries made huge gains, some were able to reduce their national debt with the surplus, most had their currency increase in value eg Angola. In our own case it was the opposite, naira crashed the more, our foreign debt increased, more loans were taken, government officials became richer, emeifele started building 700 house estate, Tunde was said to have amassed 1.5trillion in his aza. All sorts of civil servants and serving officials were able to openly pay 100,200m to pick nomination forms.

aribisala0:
A lot of people here commenting ignorantly about how the USA is justified in doing this.
That the US is running trade deficits with the world etc

On the surface that is a plausible argument

There is a fundamental point you are missing

We like to pretend that every country has a currency

In reality there is only one currency in the world and that is the US dollar

Now take a look around your room or your house.

Is there a single thing that is Made in the USA ? Even if you use an Iphone it likely is made in China

If you trade with China from Nigeria you are using dollars

Why is this?

Did we not recently hear the THREATS Trump made about anyone seeking to change the dominance of the dollar?


What does that have to do with Tarriffs?

Nigeria has maybe $30 billion in Foreign reserves . None of it is in a single Nigerian bank. The Saudis, Kuwaiti China Russia South Africa and others are forced to keep their money in US banks

What is the interest rate in Nigeria today? maybe 30% and America? Maybe 5%

So the Capital of the world is in US banks providing credit for Americans , businesses and individuals to live a lifestyle the rest of the world can only dream of

It is down to the fact that YOUR MONEY IS IN US BANKS and you dare not change it as an African leader or you will be removed


So in Nigeria you want an Iphone you pay cash upfront. same thing with a TV, Fridge etc

In America you can buy those things on credit and pay over 5 years. In fact they even allow you change your phone every year

So Americans are in a position to CONSUME like no other nation

Think about this
They continue racking this huge trade deficit and the dollar never crashes? Why Saudi sell their oil and keep it in US banks and invest in the USA

The same Saudi that will only build mosques in Nigeria
The Same Saudi that will not invest here
The Same Dubai that bans you from going there

Tinubu will go and sit with them forming Islamic conference but they will not put money here

The Position of the dollar is a military accomplishment not an economic one . Trump complains no one buys their cars? Yes because Korean cars, Japanese Cars European cars make more sense

Economically The US does not contribute that much .
They produce hardly any coffee .They set up an exploitative Starbucks and now want to impose tariffs on Coffee. How does that make sense. Is that supposed to persuade anyone to start growing coffee or bananas in America or to start buying Cadillacs and Fords

Your analysis is apt but U forget one big thing- America's rising debt.

American govt continues to borrow to fund his budget; not only that, America also prints money out of nothing to fund his budget. These are not sustainable and it's been said by 2035, America will be spending close to a trillion to finance his debt.
If that happens, a lot of continue will lose faith in the dollar as reserve currency, and will likely look for alternative source of reserve.

America may not take that lightly and may go to war which is exactly what is backing the dollar right now- military might.

Now Trump wants to avoid all these by forcing some productions back home thereby putting pressure off constant borrowing. I don't see anything wrong in this. Economic war is better than military war.

Iweakbro:
Ignorance speaking. If a cup of tomatoes is $10 in the US and an Asian cup of tomatoes is $6. When 100% tariffs are implemented, the Asian tomatoes will cost $12.

Why do you think used imported cars to Nigeria cost more despite being sold in the US and other countries for a little above $1k or less depending on the make and specs? Because of the tariffs placed on those goods.

Dumb mumudient. Why is BYD not allowed in US Market?

SIRTee15:
Let me ask U a question

If U enter an agreement and U later realised that contract was a mistake and not in your best interest or U noticed some loophole in the contract is being exploited against U.

What's the right thing for U to do?

But you entered into the agreement because you want to have unfair advantage over other competitors and you have made yourself the world police, some of those agreement made you this powerful

Don't you think rolling back all those things that made you great is going to make you less great and then make China that has been waiting in the wings and has so far been curtailed by your tariffs stronger ?

Hemanwel:
I believe Trump's mission in this second term as American president is to show to the world that the United States still holds her pride of place as the most powerful nation in the world.

Trump believes the US, under Joe Biden, had lost her place as the world power. He believes Russia was getting too powerful under Biden and they needed to be tamed.

You watch too much American movies. Economics is being discussed here.

God1000:
Something is fundamentally wrong with these people, government of clowns

It’s drugs abuse. Drug addicts are always mentally unstable; from a psychiatric President to hallucinating aides

nedekid:
What if the US has no goods it can export at competitive prices?

It has goods to export, but those countries placed tariffs on US goods, causing the trade deficit.

God bless me and God bless America 🇺🇸

Difrent:
But you entered into the agreement because you want to have unfair advantage over other competitors and you have made yourself the world police, some of those agreement made you this powerful

Don't you think rolling back all those things that made you great is going to make you less great and then make China that has been waiting in the wings and has so far been curtailed by your tariffs stronger ?

If china wants to be the next father Christmas of the world, then be my guest. I'm sure America will care less at this moment.

As per police of the world, we are already in a multipolar world. Sanctions and military threat only work against small and weak countries.

Nobody can tell china what to do and all U need to do to call off the bluff of Western bullies is to ha e nuclear weapons- they won't touch U.

Invasion is the last thing any western country will try in today's world. The riot in the street by its own citizens will lead to eventual collapse of that govt.

SIRTee15:
If china wants to be the next father Christmas of the world, then be my guest. I'm sure America will care less at this moment.

You sef know say na lie be this
America even fears China more than Russia
Why then is it undermining China at any given chance if it care less, it cares a great deal what china does.

Why is US taking over Panama canal, fear of china dominance in south America.

The ones in Nigeria mad pass trump sef…If you think people in APC are sane think again..

Xisnin:
US has a trade surplus with UK, but the UK still got slammed with a 10% tariff.
Just, admit that Trump your god is a complete slowpoke.

First of all, I know you're Muslim.

2) The UK has maintained a goods trade surplus with the U.S. for 25 years, except in 2022.

https://www.fxstreet.com/analysis/2024-sees-uk-register-ps21bn-trade-surplus-with-united-states-in-sign-of-balanced-relationship-202502180827

How is that a balanced trade?


3) Following Brexit, the UK introduced the UK Global Tariff, which outlines specific duty rates for various goods imported from all countries, including the U.S. These tariffs vary depending on the product category and are designed to protect domestic industries and generate revenue. ​

https://www.international-logistics-group.com/uk-en/insights/shipping-from-the-us-to-the-uk-160338/

4) In addition to customs duties, the UK applies a standard VAT of 20% on imported goods. This tax is levied on the total value, including the cost of the goods, shipping, and insurance. ​

https://www.trade.gov/country-commercial-guides/united-kingdom-import-tariffs

You cannot place tariff on others and start crying wolf when it is reciprocated.

Pls with proof and no emotions, show me one of those countries slammed with tariffs that have not imposed tariffs one way or the other on US goods.

Fiscus105:
Before you defend like illiterate, make sure you think logically,......if Nigeria and US tax themselves "equally", ITS ADVANTAGE FOR USA, BECAUSE USA HAS "COMPARATIVE ADVANTAGE" OVER US, THEIR PRODUCTS WOULD BULLDOZE THEIR WAYS INTO NIGERIA MARKETS AND PERISH THE REMAINING LIFELINES OF OUR FRIGILE ECONOMY.

First, you can't say the USA has a comparative advantage over any country. The USA has a comparative advantage only in some goods and services.(i-e it can produce a good or service at a lower opportunity cost than another country say, bread over coffee).
Nigeria also has comparative advantage on some goods over the US.
Now, you mentioned protective tariffs those countries imposed on goods coming from the US. Are you trying to say the US shouldn't have access to international markets because it's the word most powerful country ?. You be logical !!! China is second most powerful country in the world and has tariffs on US goods.
The goal of this tariff whatever is to open room for negotiation and address perceived imbalances in international trade.

gtassure:
Smarty pant! None of those countries on the list of tarrifs charges US any outrageous tarrifs, what you see is trade deficit to the US in %!

Yes, and the supposed outrageous tariffs imposed by trump are also in trade deficit because there a lot of goods and its no brainer to apply same tariffs to different goods.

SIRTee15:
Your analysis is apt but U forget one big thing- America's rising debt.

American govt continues to borrow to fund his budget; not only that, America also prints money out of nothing to fund his budget. These are not sustainable and it's been said by 2035, America will be spending close to a trillion to finance his debt.
If that happens, a lot of continue will lose faith in the dollar as reserve currency, and will likely look for alternative source of reserve.

America may not take that lightly and may go to war which is exactly what is backing the dollar right now- military might.

Now Trump wants to avoid all these by forcing some productions back home thereby putting pressure off constant borrowing. I don't see anything wrong in this. Economic war is better than military war.

I do not forget the debt. It was not relevant to the point I was making which was very long already
America does not BORROW TO IMPORT and this has nothing to do with Debt it is about trade
It is a TAX ON AMERICANS
Long story short American debt is totally irrelevant to the discussion and tariffs will simply force the world to rethink the use of the US dollar
Without the dollar the US cannot consume as much as it does which is the fundamental point you have failed to grasp
What Trump WANTS and reality is very different

Is he going to force the production of Bananas and coffee to America?

There are a whole list of product that CANNOT be made in America and many are such low value items that will be uneconomic to make at American wages e,g Tshirts or jeans. NOT EVERYTHING can be made in America and not every nation can afford to buy from America so a more selective use of tariffs would make more sense

Regarding high value products Those countries that make them e.g China with Electric cars are in a position to retaliate.

The idea that tariffs will move manufacturing to the US is really quite childish

Building a factory for the cost of $10 billion is a major decision for any business and they won't make such a decision when dealing with an unpredictable narcissist like Trump

We are beating you, but do not cry during the beating

Vlibray:
Before you rush to comment, make sure you check how much tariffs those countries are charging the US.
Checked ?
Then stop whining !

No. Please tell us. Give some examples

aribisala0:
I do not forget the debt. It was not relevant to the point I was making which was very long already
America does not BORROW TO IMPORT and this has nothing to do with Debt it is about trade
It is a TAX ON AMERICANS
Long story short American debt is totally irrelevant to the discussion and tariffs will simply force the world to rethink the use of the US dollar
Without the dollar the US cannot consume as much as it does which is the fundamental point you have failed to grasp
What Trump WANTS and reality is very different

Is he going to force the production of Bananas and coffee to America?

There are a whole list of product that CANNOT be made in America and many are such low value items that will be uneconomic to make at American wages e,g Tshirts or jeans. NOT EVERYTHING can be made in America and not every nation can afford to buy from America so a more selective use of tariffs would make more sense

Regarding high value products Those countries that make them e.g China with Electric cars are in a position to retaliate.

The idea that tariffs will move manufacturing to the US is really quite childish

Building a factory for the cost of $10 billion is a major decision for any business and they won't make such a decision when dealing with an unpredictable narcissist like Trump

Especially when they have invested billions of dollars in another country.

Slytiger:
Especially when they have invested billions of dollars in another country.

America now buys aviation fuel from Dangote
Is applying tariffs going to make Dangote build a refinery in Texas?

It will only increase the price of air travel

They buy Cocoa from Nigeria maybe?

Will Tariffs make us start planting cocoa in the USA

Flangelo12:
Shut up.

What of trade like Google, Facebook, YouTube?
Amazon?
You guys just talk rubbish and use Muslims as an epithet to subdue people from having a riposte.

Numbskull.

You only dropped insults, you didn't state what you meant by trade by Google and the rest. You sound like an illiterate and a Muslim too.

Google pays 80% of its tax to its parent country —the US and the other 20% to other countries depending on their involvement. Expecting Google to pay the same amount of tax to other countries is like expecting China's Alibaba to pay huge taxes to us and other countries that use e-commerce services.

What is your point exactly? Mr low IQ?

Iweakbro:
It has goods to export, but those countries placed tariffs on US goods, causing the trade deficit.

You really do not know what you are talking about
America Boeing along with Airbus have a complete monopoly on commercial aircraft.
They also sell a lot of weapons that countries are begging for.
They have monopolies in the area of Microsoft, Google, and other social media application
VISA, Mastercard, are American.

The trade deficit is because America has too much finance allowing them to buy things they do not need on very cheap consumer credit using other countries' money that they are forced to keep in dollars in American banks
People are changing phones every year, changing TV and so on so frequently. The reality is America consumes more than they produce and they do so because other countries keep their reserves in dollars in US banks .

Logically based on the year on year deficit the dollar should not be so strong

There is something called a World Trade Organization that has essentially done America's bidding

The simple reality is you cannot produce most of the goods China or India sells at the price they do and pay the American minimum wage and then most of the consumption is happening in America. How do they pay for that consumption Mostly CREDIT

Where does the finance for that come from?

Iweakbro:
You only dropped insults, you didn't state what you meant by trade by Google and the rest. You sound like an illiterate and a Muslim too.

Google pays 80% of its tax to its parent country —the US and the other 20% to other countries depending on their involvement. Expecting Google to pay the same amount of tax to other countries is like expecting China's Alibaba to pay huge taxes to us and other countries that use e-commerce services.

What is your point exactly? Mr low IQ?

You are a plonker.

Your insults are well deserved.

blamingthedevil:
Dumb mumudient. Why is BYD not allowed in the US Market?

Byd is allowed, but they choose not to operate in the us because of mountainous tariffs. Guess who set the precedence for this? China!

China required foreign car manufacturers to form 50/50 joint ventures with local companies to operate within the country up until 2018 when they started relaxing these rules.

Just imagine. Despite most American firms assembling their products in China. Ode!

Flangelo12:
You are a plonker.

Your insults are well deserved.

You still didn't make any point. I'd like to tell you that it is a disaster to be a Muslim and an illiterate. Spits*

Iweakbro:
You still didn't make any point. I'd like to tell you that it is a disaster to be a Muslim and an illiterate. Spits*

You can insult Muslims, that's on you.

Does it change that it was unfortunate day your mother got impregnated?

abbey621:
Whether generosity or annimosity, the new president is correcting the mistakes......So nobody should have a problem with a country choosing to focus on itself rather than policing the world!

who asked the US to give in the first place?

from all that the US was giving, was it giving because it loved the beneficiaries of its generosity?

Iweakbro:
Course they will impose more tariff. The US is the biggest market for these guys. Yet they place high tariffs on US goods, creating huge trade deficits.

did the US threaten all the countries it is presently threatening before it imposed this round of tariffs?

if the US imposes more tariffs and other countries retaliate again, who lose?

US is the biggest market for which guys?

what is the high tariffs that "these guys" place on US goods?

what are the goods in question?

aribisala0:
You really do not know what you are talking about
America Boeing along with Airbus have a complete monopoly on commercial aircraft.
They also sell a lot of weapons that countries are begging for.
They have monopolies in the area of Microsoft, Google, and other social media application
VISA, Mastercard, are American.

The trade deficit is because America has too much finance allowing them to buy things they do not need on very cheap consumer credit using other countries' money that they are forced to keep in dollars in American banks
People are changing phones every year, changing TV and so on so frequently. The reality is America consumes more than they produce and they do so because other countries keep their reserves in dollars in US banks .

Logically based on the year on year deficit the dollar should not be so strong

There is something called a World Trade Organization that has essentially done America's bidding

The simple reality is you cannot produce most of the goods China or India sells at the price they do and pay the American minimum wage and then most of the consumption is happening in America. How do they pay for that consumption Mostly CREDIT

Where does the finance for that come from?

Sorry sir, your IQ is below average! America doesn't have so much finance. They have logged 30 trillion debt which they service its interest every year. China is richer than the US and since it is a communist country, its companies benefit more than US companies.

Take, for example, the government invested massively in BYD a private company that makes electronic vehicles. The assembly plant is as big as San Francisco and now they are making more sales and revenue than Tesla, all thanks to their technological prowess.

When it comes to US citizens having those things you mentioned—it may look like a luxury to you, but credit facilities are basic amenities. It is not free money! If you have to pay for phones or cars over time, you'll also be paying interest and if you default payments, those items will be repossessed.

Having your foreign reserves in dollars is for ease of trade not to enrich the US. If the economics were that simple, the US would have printed 30 trillion and paid off its debts.

And no, the US does not just print money at will, or it will cause inflation (basic economics) you don't need to go to university to know this.

You must be illiterate to think everything is mostly credit. You haven't heard of income tax or VAT? Lol. From the food eaten at restaurants to money paid on rent, everything is taxed. If you paid attention in your secondary school, you should have learned that credit facility is a basic amenity.

Pls, read before you engage me.

Where are you when your oga was setting those countries up unjustly?
You guys lacks moral standard to be saying those sh!t now as if every other countries is operating under your emperor.

ceejayluv:
He's only advising them not to tow such foolish route. I don't think any nation would retaliate cos the American move was a brilliant gambit - they're charging half of what other countries are charging them... The Next step is for other countries to lower their tariff for American goods so in turn they can get a lower tariff for theirs. America wins.

what makes the route that the US has taken not be foolish?

if the other nations decide to take the "foolish route" just as canada, mexico and china did, what did the US do?

what are the tariffs being placed on US goods and which goods in question are you referring to?