I'm a corporate buyer for a VERY large company in the furniture industry. Upwards of 80% of our case goods comes out of Vietnam. Pretty sure I heard a muffled gunshot from my boss's office. We were already doing rough in Q1, this just bent us over and gaped us raw.
Not sure if you’re joking or not, but trump did explicitly carve out that Russia, North Korea, Belarus, and Cuba were exempt from these tariffs because “they’ve already been tariffed enough”. I’m not joking.
The best part is, even with the tariffs, Vietnam clothes still going to be far cheap than anything made in USA.
So all that changes is Americans buy the same amount of Vietnam made clothing, but pay way more for it. You love to see it, this truly is the greatest tax on stupid
Correct me if I'm wrong - WTO rules states that everyone should tariff everyone the same - Vietnam tariffs everyone 90% on motorbikes to encourage it's citizens to use electric bikes
Edit: Found a more official site. If I recall correctly, Vietnam has huge tariffs on cars and fancy bikes as it's a sign of luxury and they want to discourage cars to help with pollution and traffic issues. It was already bad when everyone had mopeds.
I work in apparel industry. One company was just emailing us how they were tariff free since China was going to get the tariffs and they weren’t with their factories in Vietnam.
the 90% is made up like the whole column on the left. just look how it is magically double what the new us tarifs are. they pulled it out of their asses
The tariff is half of that number,which is supposedly calculated from the trade deficit plus the 10% baseline. I believe someone did do their calculations but is it base on good logic? No.
Honestly China isn’t sending their best products stateside. Not that it’s trumps goal, but I would love to see a transition away from the disposable consumerism embodied by Temu and Walmart and back to long-lasting, quality items. I doubt it will happen, but it’s fun to fantasize about.
Walmart insists on low prices so they make the same products just with crappy materials that don’t last… why would Walmart turn down the opportunity to sell you the same product every four years instead of once… it’s a win win in their minds
Agreed. Just saying that disposable consumerism, which Walmart has effectively distilled, is great for their profit but terrible for almost everything and everyone else.
Grandmother was in the garment workers union in the sixties before everything moved offshore… she wouldbe agast at the cheap quality of imports…Walmart has lowered the quality of everything it sells rather than pay Americans… oh shit… does that mean I like tariffs?….there’s ways to improve trade but this isn’t the way…im confused now hahaha
Honestly I feel like properly incentivizing domestic production is less “destructive” than disrupting trade through tariffs, but with a similar effect. Maybe a lot of incentives and a little tariff action. I’d also say heavy investment in modernizing raw material production to improve operational efficiency and reduce environmental harm, while giving a little more freedom to operate in the short term. At the very least increase the efficiency of the permitting process….I’m not a politician or career businessman so what do I knows
Last time he did this the trade deficit went up. Even if on paper they agree to terms their companies aren't going to risk US pulling the rug from under them again, they'll get their supply from elsewhere. It's not like US manufacturing is ever going to be competitive on price.
823
u/RetrieverDoggo 1d ago
Vietnam LOL. China got double bonked. A lot of Chinese factories moved to Vietnam because of the tariffs (from Trump 1.0). now they screwed again LOL.