Trump has been announcing what industries he needs to expand in the US for months. This gives all companies and countries a chance to identify their options and issues. These industries have included Steel, Aluminum, Pharmaceuticals and Motor Vehicles. Trump has explained that the US needs to expand these industries to ensure that the US could respond to attacks. Trump is also concluding the US needs its own Iron Dome Missile Defense System and needs to develop hypersonic missiles.
Trump avoided war with Iran by using total economic isolation in his first term and it will work again. Trump cut taxes in 2017 and revenue increased. Trump will cut taxes again in 2025 and revenue will increase.
Trump understands that companies and countries will need to consider costs and capabilities as they modify their supply chains based on the Tariffs they choose.
Here's a list of some goods commonly exported to the U.S. from various countries, along with some key trading partners:
Top
Goods Exported to the U.S. by Country:
China: Electronics,
machinery, clothing, toys, and other manufactured goods.
Mexico: Motor
vehicles, parts, and accessories, electronics, and crude oil.
Canada: Crude
oil, natural gas, lumber, and other raw materials.
Japan: Motor
vehicles, electronics, and machinery.
Germany: Motor
vehicles, machinery, and chemicals.
Vietnam: Textiles,
electronics, and footwear.
South
Korea: Motor vehicles, electronics, and machinery.
Ireland: Pharmaceuticals,
machinery, and software.
India: Precious
stones, pearls, and metals.
United
Kingdom: Financial services, pharmaceuticals, and aircraft.
Thailand: Electronic
components, machinery, and rubber.
Key
Trading Partners:
Mexico
and Canada: Are the largest trading partners with the U.S., accounting for
a significant portion of the total trade.
China: A
major supplier of goods to the U.S., particularly manufactured goods.
EU
countries: Germany, the United Kingdom, and Ireland are major
trading partners, with exports including vehicles, machinery, and
pharmaceuticals.
US
Steel and Alcoa Aluminum are expanding their capacity as needed.
US Pharmaceutical Companies have already announced their plans to reshore Pharmaceutical Manufacturing in the US. US Auto Companies are grateful for Trump’s ending the EV Mandate, but would also like to reshore Auto Parts Suppliers where they can.
The countries most affected are China, Mexico and Canada. The Chinese economy is large and China can survive this Tariff deal. Mexico and Canada are likely to loose Auto and Auto Parts plants.
Vietnam has developed capability to manufacture textiles, footwear and Electronics and has announced that their Import Tariff will be Zero, but Vietnam also launders goods for China.
Japan is building a Honda plant and will likely build other plants in the US to lower their corporate tax to 15%. South Korea will likely want to negotiate the best Tariff deal they can and will build more plants in the US.
Taiwan Semiconductor is building a plant in the US.
AI Facility investors have announced they will invest $5 trillion in US facilities. This will allow massive productivity gains in database development and prevent our current data-handling systems to achieve reliability.
The EU will need to expand its Private Sector Economies by adding manufacturing capabilities and pare back its excessive government costs to reduce taxes on its own populations.
The increase in US oil and gas production will lower energy costs and reverse the Biden Global Inflation. All countries will benefit.
The “golden age” in the US should be more visible over the next 2 years. In the meantime, we may need a second job.
Norb Leahy, Dunwoody GA Tea Party Leader
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