https://www.lse.ac.uk/granthaminstitute/news/if-elected-donald-trumps-proposed-tariffs-would-damage-the-economies-of-united-states-china-and-europe-and-set-back-climate-action/New research by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science has found that proposed tariffs put forward by US Presidential Candidate Donald Trump would hit the American economy and could hinder action on climate change. The research by Dr Aurélien Saussay, laid out in ‘The economic impacts of Trump’s tariff proposals on Europe’, concludes that Donald Trump’s additional tariffs on some imports could lead to a reduction in gross domestic product in the United States by -0.64%, China by -0.68%, and the European Union by a more modest reduction of -0.11%. Mr Trump has proposed a 100% tariff on all imported vehicles which would, according to the paper, “significantly impact the affordability of electric vehicles in the US market, potentially slowing adoption rates and hampering efforts to reduce transport emissions, given that imported EVs currently account for approximately 30% of the US electric vehicle market.” Donald Trump has repeatedly claimed in both speeches and media interviews that he is going to implement a universal 10% import tariff on all foreign-made goods, a targeted 60% import tariff on Chinese goods and a 100% tariff on all imported cars. He has also spoken about a 200% tariff on some imported vehicles. While most of the existing tariffs enacted under the previous Trump administration have not been rescinded by the Biden administration, these new proposals still represent a significant escalation of ‘America First’ trade policies and could have wide-ranging economic impacts.
Mr Trump has proposed a 100% tariff on all imported vehicles which would, according to the paper, “significantly impact the affordability of electric vehicles in the US market, potentially slowing adoption rates and hampering efforts to reduce transport emissions, given that imported EVs currently account for approximately 30% of the US electric vehicle market.” Donald Trump has repeatedly claimed in both speeches and media interviews that he is going to implement a universal 10% import tariff on all foreign-made goods, a targeted 60% import tariff on Chinese goods and a 100% tariff on all imported cars. He has also spoken about a 200% tariff on some imported vehicles. While most of the existing tariffs enacted under the previous Trump administration have not been rescinded by the Biden administration, these new proposals still represent a significant escalation of ‘America First’ trade policies and could have wide-ranging economic impacts. Mr Trump’s proposed ramping up of tariffs, framed as measures to correct trade imbalances and protect industries in the United States, have the potential to significantly reshape international trade relations and supply chains, with notable consequences for the European Union and its trade priorities. The 10% universal tariff proposal would be the most damaging for European economies, even for countries less affected overall by the full set of proposals. Some European sectors, particularly Germany’s automobile industry, would be disproportionately affected. Although the 100% tariff on vehicles is particularly targeted at Chinese electric vehicles, Germany would still be likely to experience an economic hit. The United States is the top destination for Germany’s exports, while it is only the fifth largest market for French exports.
The largest adverse effect of Donald Trump’s trade policies would be to China’s economy, with a projected loss of 0.68% of GDP. There would be limited impacts across the European Union but potentially substantially challenges for some Member States. Germany (-0.23%) faces a GDP drop more than twice as large as that for the European Union as a whole, while France and Italy would both sustain small impacts (-0.15% and 0.01%). The UK would suffer impacts (-0.14%) closer to the European average.Compared with China, other major emerging economy countries, including India, Indonesia and Brazil, would be much less negatively affected, with GDP losses of -0.03%, -0.06% and -0.07% respectively, because they would only be subject to the 10% universal tariff instead of the specific 60% tariff targeted at China. They also have lower levels of trade with the United States compared with China and the European Union. The paper recommends that European countries “refrain from using its carbon border adjustment mechanism (CBAM) as a conduit for retaliatory measures as it would require an unrealistically high carbon price on the embodied emissions of US imports and could weaken the acceptability of the border carbon tax for the EU’s trade partners.” It adds that using the CBAM to retaliate to any increased tariffs “could in turn raise questions about the motives behind implementing the CBAM, which the EU has informally argued is justified under the WTO’s environmental exceptions.”
Dr Saussay also recommends that the European Union, China and other countries take a “measured response, limit exposure to avoid an overreaction to the proposals and avoid the pitfalls of broad retaliation as that could potentially trigger a full-scale trade war harming EU economies and consumers.”The European Union and China should also “consider highly targeted protective measures for specific vulnerable sectors, such as the automobile industry. This is particularly relevant for Germany, and could include temporary subsidies, tax relief, R&D incentives, and support for export markets to diversify.”Dr Aurélien Saussay, Assistant Professor at the Grantham Research Institute on Climate Change and the Environment, said: “These tariffs will impact the American economy, not just Chinese and European sectors, so Donald Trump ploughing ahead with these policies if elected would be awful for economies across the globe. “Retaliatory measures by China or the EU would likely worsen economic outcomes for all parties involved, potentially sparking a damaging trade war.”
>>1361579>New research by the Grantham Research Institute on Climate Change and the Environment at the London School of EconomicsStopped reading right there. "Climate change" is a left-wing conspiracy theory.
>>1361584>No things just get hotter for no reason, it happens!>All the smog and pollution introduced by humans in the last few centuries will do nothing to the environment!
>>1361593C O P E
>>1361579>New research by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science has found that proposed tariffs put forward by US Presidential Candidate Donald Trump would hit the American economy and could hinder action on climate change.global warming isn't real. its a myth invented by israel to promote socialism and increase China's power
I'm quite retarded so bear with me. So if Trump is proposing a 100% and 200% tariff on Chinese vehicle imports, and China would have to pay for it, how would China even possibly make a profit? I don't think they would bother selling vehicles if that was the case, so it would effectively be a ban.The only way this would make sense to me is if the American directly paid for the tariff.
>>1361593You're an idiot. Only idiots answer this sort of "climate change is fake" troll any more. I personally like the warmer Canadian winters. I'll be dead by the time the climate refugees start climbing over the walls. And I have no kids too worry about. Those that still have kids are as stupid as you and deserve what they get, like those that voted for tRump.
>>1361593You literally cannot demonstrate and reproduce, in a controlled lab environment, climate change.It isn't science. It's dogma. Retarded dogma created by lefties to gather the greatest amount of federal funding possible.
>>1361627Musk wants a ban so he can sell his inferior cars at an inflated price. He's no tech guti, but he's an astute business person aka greedy republican. Just like me.
>>1361630I may be wrong. You might not be a troll, just a dummy.
>>1361629I keep getting told on the news it will affect minorities/the global south the most, so unironically why should I care if it was real?
>>1361579>Imported item costs $25, US-made costs $100>People can't justify $100 for the US-made item, buys the $20 instead even knowing it's probably not quite as good, but it's still 'good enough'>Tariffs make imported item cost $110>People see $110 on foreign item and $100 on US item>Now can't afford said item at all>De-facto poverty increase across the board>Trump's team: "wtf why is no one buying anything? just take out a loan of a million and buy/build stuff like we rich people with heaps of assets do! Wtf do you mean you don't have a McMansion as collateral!?">Promised American manufacturing doesn't return because we don't even make specialized the machines required for a lot of the factories that produce foreign imports, and importing parts is now also too expensive>Lack the infrastructure to make them ourselves on a large enough scale to meet demand>Mafias return to power, smuggling stolen computer parts and toyota's>Everyone starts to hate us, alliances broken>War materiel exports slow as a result: the very thing which made the US a superpower in the first place>Only solution is de-regulation of businesses and gutting of federal minimum>Manufacturing opens finally, but is all sweatshop labor for peanuts no different than dangerous china factories>Huge natural areas of the US are irreversibly destroyed by mines and pop-up factory towns>Air becomes polluted>Quality of goods in general drops due to shit work conditions, poor morale, and rampant crime being the norm. >Employees and half the police don't even bother to stop theft because they know how shit things are>Hospitals undermanned/overfilled as a result of degrading quality of life>Still somehow finding means to send billions to Israel while homelessness, crime, and disease skyrocket>America is now "great again"
>>1361652No it's $100 item after tarriffs US charges $99 to enjoy profits and then >Only solution is de-regulation of businesses and gutting of federal minimum>Manufacturing opens finally, but is all sweatshop labor for peanuts no different than dangerous china factories>Huge natural areas of the US are irreversibly destroyed by mines and pop-up factory towns>Air becomes polluted>Still somehow finding means to send billions to Israel while homelessness, crime, and disease skyrocketthen crash but that's the trade-off
>>1361579its time for US to be self-sustained now get your filthy mitts off my canadian meat you fucking pigs. If you fatasses come up to canada you'd better expect to become dinner.
>>1361658>Still somehow finding means to send billions to Israel while homelessness, crime, and disease skyrocketWell that sounds exactly like the Biden presidency, honestly
>>1361584You're a dumb faggot who didn't finish high school.
>>1361584climate change is real but it's an issue that'll be a problem so many generations down the line I don't give a fck if your descendants all burn up.
>>1361629>I'll be dead by the time the climate refugees start climbing over the wallsDo you plan to kys soon or are you a geriatric, because things will quickly get much worse than they already are as the methane in the Artic and Siberia will get released.
>>1361672only a retard stays in school. dropped out to help out at my dad's bussiness and more smarter for it.
>>1361635It's the truth anon.Climatologists don't actually deal with science. They look at the climate and claim the world is going to end in Current Year plus ten more years. They have been consistently wrong in their predictions for nearly a century. Because again, climatologists are pseudo-science faggots in the same realm as paleontologists.
>>1361579Boe Jiden's presidency led to a bigger drop in GDP and we got nothing out of it.That's a nice big scary red bar though. .4% GDP decrease is a small price to pay.And the best part is watching Democrats betray every single principle they ever thought they had to oppose it.
>>1361688> bigger drop in GDP and we got nothing out of it.This. I don't mind a drop in GDP (in fact, Elon said we might see as much as a 10% drop next year) so long as its Republicans doing a controlled purge to restructure and build back a better economy that doesn't reward losers. Only a handful of people are actually worth anything, and they deserve to win rather than have their gains stolen and distributed to losers.
I've been alive for decades and I've heard stories about the environment about to be destroyed ever since I was a kid. It's a scam. There's no climate or environment threat.
This thread has been brought to you by Koch Industries Inc.
the US had tariffs on everything until the end of WW2 where we gave "free trade" reduced or zero tariffs to countries we wanted to rebuild and bribe.now the whole world is built, so tariffs go back on.
>>1361629>I'll be dead by the time the climate refugees start climbing over the walls.you're already there with refugees and economic migrants. Canada has a larger percentage of foreign born and noncitizen population than US. Thank Trudeau.
>>1361627China E cars companies are already heavily subsidised with the intention of driving other e car companies in EU out of business so they can have a monopoly on the market.This, along with Trump's tariffs and the EU's response is a perfect storm for massive trade war.
>>1361693It takes a long time you retard.
>>1361584>>1361616>>1361651I challenge and of you idiots to say climate change is a hoax publicly somewhere with your real name.
>>1361723I challenge you to admit there are only two genders publicly with your real name
>>1361724Why would I lie publicly? I am happt to say what I do believe. I am asking you to be honest openly with your real name. If you truly believe that climate change is a hoax, why would saying so publicly be a problem?
>>1361723I do it every morning at starbucks. The only thing I get is a snarky comment from the barista about using the wifi without paying for anything.
>>1361725>Why would I lie publicly? You lie all the time, admitting there are only two genders would be your first brush with truth.>If you truly believe that climate change is a hoax, why would saying so publicly be a problem?You seem to live in a world where people who believe climate change is a hoax didn't just win an amazing upset victory that literally demolished their ideological opponents. Climate change is a hoax because you lost. If you don't like that or don't think thats true, then you shouldn't have lost lmao.
>>1361579>Trump’s tariff proposals on EuropeScotland's taxation of his golf courses increase. And single malt whisky at Mar-a-Lago will cost even more
>>1361584>"Climate change" is a left-wing conspiracy theory.So Elongated Muskrat will stop making electric cars? We'll wait for your answer.
>>1361723I literally say global warming isn't real all the time in my daily life, reddit spacing retard.
>>1361651It sure will directly affect the browns and blacks more than it directly affects you. Now ask yourself this: at that point why wouldn't the browns and blacks try to flood into wherever you live?
>>1361627>tariff on Chinese vehicle imports, and China would have to pay for itDo you have a single clue how tariffs work? China doesn't pay for it, US purchasers do. China then won't be able to sell their vehicles in the US because they will be too expensive, and then it will be like you said, they just won't bother trying to sell it in the US.>American directly paid for the tariffThis is literally how tariffs work.
>>1361652>However this does not apply to any other taxes.>This is only true of dRumpfs tariffs.I've lived long enough to see Democrats become the low tax and anti-union party.
>>1361658good. not everyone deserves to get the fruits of society. their are cattle and their are farmers. the cattle (99%) toil and die to feed the farmers (1%) and not everyone can be farmers. that is how society works. dont want to be cattle work your ass off and become the best of the best. that is meritocracy.
>>1361658>>1361652I've maintained that we've been on a cyberpunk trajectory for a while now. The establishment, whether right or left, here or abroad, seems bent towards it. Neofeudalism will just be a fact of life until the rich automate the rest of us out of existence.
>>1361777you mean people getting what they deserve
>>1361772landmines
>>1361748electric cars are an israeli invention so the government can control where you go like in metal gear solid
>>1361779Go ahead and bury some around you. Make sure to keep no records of where they so those minorities won't steal it.
>>1361579>Mr Trump has proposed a 100% tariff on all imported vehicles which would, according to the paper, “significantly impact the affordability of electric vehicles in the US marketWe don't import any Chinese electric vehicles tho
>>1361686It's getting warmer and warmer regardless of opinion. If the observable trend continues it will be very bad for the humans on earth. No climate change science needed at all.
>>1361692I think all people who are not billionaires should be killed tomorrow with nukes covering the entire earth!
>>1361776The govt chooses winners and losers which results in terrible tariffs.
>>1361707who cares you and me will literally be dead 3 times over before it matters. Fuck what the next generation's spoiled brats have to deal with.
>>1361771Excellent then. That's all I want. There will be a time when AI will be able to sort through and we can identify who like you chose to be willfully ignorant and selfish. When the shit really hits the fan will will want to separate who cared and who didn't when it was important.>>1361772These idio don't understand that it's already affecting them and that's why people from China and India are flooding the rest of the world. They think an orange dictator can stop it but that's just more of them having their heads in the sand. Crops are already failing in major parts of the world, the US a few decades ago was a primary producer and exporter of food, now it imports more and more relying on other countries. Storms that used to be considered once in a century events happen year after year. Every month for several years now has hit a new global high. Global warming isn't a problem looming in the distance, it's here fucking us now.
>>1361874>climatehoaxer making more empty threatsAI isn't going to punish all the mean people who laughed at you for being a faggot.Nothing you say matters or is true, sorry chuddy. You lost.
>>1361780>electric cars are an israeli inventionSo Musk is Jewish, therefore the enemy. You said it, I didn't.
>>1361874unironically take meds
>>1361579>New research by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political ScienceIt doesn't sound like an objective or reliable source.
>>1361773>China doesn't pay for it, US purchasers do.You don't know how tariffs work. The point is to stop buying from China and buy somewhere else.
>>1361921nta but he didn't say that. Also he is a troll, stop responding to him.
>>1361953No the point is for China to move their supply chain so the last 1% of the assembly process is in some other country, and/or the domestic companies raise their prices to just below the Chinese product plus tariffs.
>>1361692>Blumpf crashes economy immediately, millions suffer>Slowly builds it back through shitty short-term deals and unstable policies>2028, Rethuglikans claim look at how much better the economy is doing than the start of his term!!!
>>1361826Farming is already becoming more difficult because crops and vegetables can't survive the heat, and ecological disasters fucking up mainland infrastructure is no longer distant news. Maybe you'll die of starvation or poverty in a few decades but at least it wasn't a heatstroke!
