Pandubabu Posted February 3 Report Posted February 3 3 minutes ago, CanadianMalodu said: How? majority of them are church going poor Christians. the rise in prices will affect them more than Priya picke eating Indians and avocado eating rich Democrats 1 Quote
CanadianMalodu Posted February 3 Report Posted February 3 1 minute ago, Pandubabu said: majority of them are church going poor Christians. the rise in prices will affect them more than Priya picke eating Indians and avocado eating rich Democrats Tatah will also do the income tax cut, which will leave more money with every individual as well. So that offsets it. Quote
DOGE Posted February 3 Report Posted February 3 5 hours ago, Joker_007 said: Did you ever heard of "de minimis" Program kaka.. ? China is mis using it jus like Indians using H1B and F1 OPT, CPT's ... […] (h) For avoidance of doubt, duty-free de minimis treatment under 19 U.S.C. 1321 shall not be available for the articles described in subsection (a) and subsection (b) of this section. {link} So, Canada and Mexico get 25% tariffs, but China only 10%. Why? The secret is in that subsection “(h)” when it talks about de minimis treatment. Essentially, what President Trump is doing is levying a much more massive import tax, and possible confiscation impact on the core source of fentanyl (and other illegal) substances. (Bloomberg) — President Donald Trump’s new trade levies against China, Canada and Mexico include a broadside against e-commerce, with apparent plans to extinguish a long-held tariff exemption for packages worth less than $800. Trump’s executive orders directing 25% levies on Canada and Mexico — plus a 10% duty on China — specify that the “de minimis” exemption for small packages no longer applies. Under the exemption, products below that dollar amount are able to enter the US without tariffs — a boon for China’s e-commerce retailers who ship often cheaper wares directly to consumers in the US. The full scope of the de minimis changes — whether they apply just to the new tariffs issued Saturday or to older existing trade levies — was not clear. A White House spokesman did not respond to questions about its reach. However, trade lawyers said Trump’s language cracking down on the de minimis exemption could apply broadly, even to existing duties against China, Canada and Mexico. Regardless, the impact of the change threatens to fall most squarely on China, affecting retailers including Alibaba, JD.com Inc., PDD Holdings Inc.’s Temu and fashion-focused Shein. American shoppers and companies imported about $48 billion worth of shipments from the world under that loophole in the first nine months of last year, according to US Customs and Border Protection estimates. (read more) Approximately a billion packages are estimated to enter the USA under the cover of the de minimis exemption. This is where the enforcement mechanism of the “External Revenue Service” combines with the tariff approach and the “state of emergency.” President Trump imposed the tariffs under the International Emergency Economic Powers Act, a nearly 50-year law that gives the president sweeping power to impose sanctions after declaring an emergency. Now the billion packages, mostly from China, Mexico and Canada are going to be subjected to review and interception. The de minimis loophole comes from back in the 1930s. The idea back then was, say you went on a vacation to Paris, you shouldn’t have to file customs paperwork or pay taxes if you decided to ship some little Eiffel Tower statues to your friends back home. Congress in 2015 then raised the de minimis threshold from $200 to $800. However, the e-commerce world exploded, and Chinese companies began using the de minimis loophole to ship cheap goods (ex. Temu and Shein) into the USA direct to consumers without paying any customs duty. It was reported last year that the U.S. was on track to receive a billion packages through the de minimis loophole that aren’t taxed and don’t have customs slips saying what they are. Making matters worse, illegal items are slipping through the cracks, including, knockoffs, unsafe items and even chemicals used to make fentanyl. The worst abuser that exploits this de minimis loophole is, by far, China. President Trump can require a customs and duty declaration stating what is in every package and subsequently collect tariffs and duties. 1 Quote
Pandubabu Posted February 3 Report Posted February 3 1 hour ago, CanadianMalodu said: Tatah will also do the income tax cut, which will leave more money with every individual as well. So that offsets it. lets hope Quote
socrates Posted February 3 Report Posted February 3 8 hours ago, CanadianMalodu said: Lol, is this Marxist supporting Marxist trope ? Regular Canadians will get crushed by Canadian government retaliatory tariffs more than by US tariffs. The country is already run into ground by Marxist Infiltration and consequent policy paralysis by Trudope at the behest of WEF. Trump will have the last laugh anyway. If Canadian banks start defaulting, I think Trump will get his sweet deal for buying up Canada. come out of the delusion that Canada banks are going to default, we are in modern world every economic system depends on another, if anyone wants to destroy other country banks it will leads to chain reaction Quote
CanadianMalodu Posted February 3 Report Posted February 3 1 hour ago, socrates said: come out of the delusion that Canada banks are going to default, we are in modern world every economic system depends on another, if anyone wants to destroy other country banks it will leads to chain reaction Then you either are too ignorant or naive to understand what's happening in Canada. COVID mortgages are up for renewal this year. Mortgages in Canada are NOT fixed for 20 -25 years unlike in US. people started defaulting on credit cards and vehicle payments. Mortgages are next. Canadian govt. tariffs will put further inflationary pressures on Canadians. $hit may hit the roof sooner or later. It's better if it happens this way. At least there will be a correction. The other way which is to print more $$ means hyperinflation and multigenerational mortgage, with no retirement. Canada will become Zimbabwe. Quote
socrates Posted February 3 Report Posted February 3 40 minutes ago, CanadianMalodu said: Then you either are too ignorant or naive to understand what's happening in Canada. COVID mortgages are up for renewal this year. Mortgages in Canada are NOT fixed for 20 -25 years unlike in US. people started defaulting on credit cards and vehicle payments. Mortgages are next. Canadian govt. tariffs will put further inflationary pressures on Canadians. The my hit the roof sooner or later. It's better if it happens this way. At least there will be a correction. The other way which is to print more $$ means hyperinflation and multigenerational mortgage, with no retirement. Canada will become Zimbabwe. while i am discussing with you i am already prepared for you blind beliefs and crazy theories Canada may be through some issues, those can be fixed over the time with leadership change your claims on canada becoming zimbabwe is laughable in terms of total national debt and debt to GDP ratio Canada is in better shape than usa, moreover Canada credit ratings are higher than usa , now tell me which country has better chances to be like zimbabwe looks like you know nothing about canada 1 Quote
CanadianMalodu Posted February 3 Report Posted February 3 15 minutes ago, socrates said: while i am discussing with you i am already prepared for you blind beliefs and crazy theories Canada may be through some issues, those can be fixed over the time with leadership change your claims on canada becoming zimbabwe is laughable in terms of total national debt and debt to GDP ratio Canada is in better shape than usa, moreover Canada credit ratings are higher than usa , now tell me which country has better chances to be like zimbabwe looks like you know nothing about canada Blind beliefs, lol? You have no clue then. Canada only leveraged housing in 2008 crisis and avoided crash narrowly. There is no big industry apart from it at the moment. Those don't mean jack. US can keep printing at will and can keep raise debt ceiling. They have the military might to sanction and impose dollar. Canada can't do the same. Canada has much lower productivity, and is on divergent economic path circa 2015 or so and gap only widened further during and after pandemic. Government is the largest employer and big banks are largest companies. The piper needs to be paid. Even MSM in Canada seem to agree. https://www.google.com/amp/s/globalnews.ca/news/10604338/canada-indebtedness-debt-levels-desjardins-report/amp/ I have lived in Canada to see for what it is, while you seem to be the googling guy, without even experiencing, living in Canada. The year is here, the reckoning shall be too sooner or later. Quote
socrates Posted February 3 Report Posted February 3 3 minutes ago, CanadianMalodu said: while you seem to be the googling guy look who is sharing the google links 4 minutes ago, CanadianMalodu said: https://www.google.com/amp/s/globalnews.ca/news/10604338/canada-indebtedness-debt-levels-desjardins-report/amp/ lol Quote
CanadianMalodu Posted February 3 Report Posted February 3 38 minutes ago, socrates said: look who is sharing the google links lol I had to because you think I'm talking blind beliefs and crazy theories. You would believe only MSM so at least I give you something to chew , lol. Quote
human1234 Posted February 3 Report Posted February 3 7 hours ago, CanadianMalodu said: Tatah will also do the income tax cut, which will leave more money with every individual as well. So that offsets it. https://itep.org/trumps-tax-plan-like-robin-hood-in-reverse/ Trump’s Tax Plan: Like Robin Hood in Reverse Quote
kevinUsa Posted February 3 Report Posted February 3 4 minutes ago, CanadianMalodu said: @kevinUsa He is only one politician with some brain anipistadi naku Quote
CanadianMalodu Posted February 3 Report Posted February 3 16 minutes ago, kevinUsa said: He is only one politician with some brain anipistadi naku Yeah. He talks common sense. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.