another case of TDS here. We actually do have tariffs on the USA, wine, and beef ban. We still have tariffs on autos to protect our own now extinct auto industry. Hence why our cars so expensive still, the gov never removed those tariffs.
Equally the USA isn’t happy with our aluminum smelting given its artificial cost base through government intervention in subsidies to the energy costs. US aluminum has been decimated. So he’s mad at that.
Do I think the USA should have tariffs on Australia? No, given we rarely have a surplus with them. Only right now as a high gold price. We are not screwing them over outside really beef which to be fair could justify a tariff. Wine is immaterial. We’ve just been caught up in the global war. Like 2018, we will likely get an exemption. People have short term memories, and media headlines make it worse to the uniformed.
Interesting to see your thoughts on the China tariff war? If you can’t see what and why he’s after them you’ve got severe TDS. Europe has equally been gaming the system in autos at the expense to USA.
Trump has done a lot of good, but I don’t totally agree with the way he approached the tariff wars. At least he’s backed down to a degree. But given the USA is a reserve currency, they’ll never be able to truely square up trade as their dollar will always be artificially higher.
But I remove the emotions from this, look at the bigger picture and what he’s trying to achieve. I dumped a significant amount of defensive stocks and made a killing buying resource stocks, NASDAQ and S&P500 index funds on that stupid black Monday trading day. Thank you panic and forced institutional/margin selling.
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