Tariff imposed and Watch Prices in the USA

[Dr. Robert]

Originally Posted by Paraflex

I don’t know if it has already been discussed here but apparently Rolex, AP and Breitling have decided to suspend theirs exportations to the US for the moment.

Is this true? I have read Land Rover/Jaguar isn’t shipping cars to USA.


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[Paraflex]

I don’t know for sure but This information was reported in the American press (New York Post) and by several European media outlets. However, it is based on statements made by a second-hand watch dealer, so it should be taken with a grain of salt.
That said, the Swiss press did contact Rolex about the matter, and the brand simply responded that it did not wish to comment. AP also dodged the question but stated that it wasn’t ruling anything out.
Here in Geneva, however, the current rumors in industry circles seem to confirm that it is indeed the case.

[FloydRedford]

Originally Posted by ajw45

1. China, EU, whoever only has a trade war with the US, the US is creating a trade war with EVERYBODY. Maybe a bully can has an advantage in a 1:1 or 1:2 situation but they can't pick a fight with the whole class at the same time. The idea that this economy is weak or that economy has more to lose works in isolation but in aggregate tariffing all countries at the same time puts the US at a huge disadvantage.

2. Trade is complicated. As mentioned above, there are non trade retaliatory steps that can fundamentally break the system like the impact on treasuries. We haven't even seen the systems that will begin to stress or get broken.

3. To those saying just give it a few weeks, that's nonsense. Supply chains are continuously moving, Walmart doesn't have warehouse they just have trucks and boats in continuous motion. Price impacts will be quick and once those supply chains break down job losses will follow as we've already seen with some of the auto mnfrs and those don't come back online quickly.

One thing the administration doesn't seem to comprehend is how much this is costing. Weeks, months of disruption is a massive cost on a global scale. Trillions of cost to make a couple hundred billion in tariffs.

Absolutely correct. Well put.


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[BraveBold]

We know what the markets think of all this ;-)

90 day pause - surge.

No 90 day pause - fall

90 day pause - surge…

Global markets. So net view of economic values (not some winners vs losers)…

[Thug]

Blinked on everyone but china.

Someone in support of tariffs want to tell me how companies are expected to make long term investments when he changes his mind more often than his socks?

[Mr Ben]

Oh good. Rolex can move their US factory back to Switzerland now

For 90 days. Then we’ll see what way the wind blows that morning.

[BraveBold]

Originally Posted by Mr Ben

Oh good. Rolex can move their US factory back to Switzerland now

For 90 days. Then we’ll see what way the wind blows that morning.

lol.

[alllexandru]

He reads the topic here and got scared about paying more for Rolexes

[Cru Jones]

[Maleg]

Originally Posted by JasoninDenver

I would happily pay more for an American made quality product. However, the reality is that not many people here in the US are able and willing to pay much higher prices for goods made by American workers who are earnings a livable US wage with benefits.

In the US, our trade representative, Ron Vara, has said repeatedly that the vast majority of manufacturing re-shored will be robotically produced to keep costs down.

I wonder if you put a 65” US made t.v. (Not that any exist) at $4,000 next to a Korean or Chinese unit at $2,000 how many average Americans would pick the former. If added tariffs make the imported model the same price, which is the stated goal, then the average American simply wont buy any t.v.. After the downstream effect, our GDP decreases.

We made the decision decades ago to shift to a consumer, service-based,
intellectual property economy. While I wholeheartedly agree we have taken that too far in certain vital areas, the fact that this shift also correlates with some of the highest GDP growth is our history speaks volumes.

Originally Posted by ajw45

Yes. I worked for a brand that launched a made in the USA t shirt because customers demanded it. It cost 3x the imported t shirt that was basically the same, slightly thicker material. No one bought the more expensive t shirt. People love to talk about buying American but not enough put their money where there mouth is to make a successful business. Frankly, the work ethic and efficiencies seen in other cultures puts America to shame, even if wages were the same which they aren't. Tariffs won't make America more competitive, investment will.

Who remembers Sam Walton's Buy America campaign in the 90's? Even with Walmart's strong arm tactics to lower prices, the campaign was a bust. Walmart ended up changing the definition of made in America whilst transitioning to made in America when possible. Made in China is fine for most folks living from paycheck to paycheck.

Other than American agriculture, American goods are not affordable for the average American.

[HiBoost]

Originally Posted by ajw45

One thing the administration doesn't seem to comprehend is how much this is costing. Weeks, months of disruption is a massive cost on a global scale. Trillions of cost to make a couple hundred billion in tariffs.

Agreed. Not to mention unrealistic fantasies about what types of jobs are even possible in the US. From the WSJ today -

Ken Griffin, a billionaire and top Republican donor who runs hedge-fund firm Citadel, called the tariffs a “huge policy mistake” at a Monday evening event at the University of Miami. It is wrong to tell a middle-class or economically challenged family "it's going to cost you 20%, 30%, 40% more for your groceries, for your toaster, for a new vacuum cleaner, for a new car," Griffin said. "Even if the dream of jobs coming back to America plays out, that's a 20-year dream. It's not 20 weeks. It's not two years. It's decades."

One thing that blows my mind is that the calculations for trade deficits don't take into account software and services. Other countries who are supposedly screwing us on buying physical goods spend a ton buying our software and services but get no credit for that in these simple calculations. As the US has moved forward in the past century we've shifted more and more people out of factories and into offices. Thus obviously what we sell to the rest of the world will reflect that. But now we're saying we want to go the other way, and jam more people back into factories? That's our vision for future American prosperity, the industrial revolution part 2?

[JRell]

You put the tariffs in and you take the Tariffs out. You put the Tariffs in and you shake em all about.

[Dr. Robert]

Originally Posted by JRell

You put the tariffs in and you take the Tariffs out. You put the Tariffs in and you shake em all about.

That’s what it’s all about. : )


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[DoricSpiker]

Let’s be thankful something approaching sensible has been decided.


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[brandrea]

Originally Posted by JRell

You put the tariffs in and you take the Tariffs out. You put the Tariffs in and you shake em all about.

[brandrea]

Originally Posted by HiBoost

Agreed. Not to mention unrealistic fantasies about what types of jobs are even possible in the US. From the WSJ today -



One thing that blows my mind is that the calculations for trade deficits don't take into account software and services. Other countries who are supposedly screwing us on buying physical goods spend a ton buying our software and services but get no credit for that in these simple calculations. As the US has moved forward in the past century we've shifted more and more people out of factories and into offices. Thus obviously what we sell to the rest of the world will reflect that. But now we're saying we want to go the other way, and jam more people back into factories? That's our vision for future American prosperity, the industrial revolution part 2?

Well it does beg the question, where will all these workers come from?

Am I correct in assuming the unemployment rate is running at around 4% right now in the US? Isn’t that considered to be “full employment” by many economists?

So it begs the question, how many of those are ready to go to work?

[DoricSpiker]

Originally Posted by brandrea

Well it does beg the question, where will all these workers come from?

Am I correct in assuming the unemployment rate is running at around 4% right now in the US? Isn’t that considered to be “full employment” by many economists?

So it begs the question, how many of those are ready to go to work?

It’s an ideology Brian. It’s not actually an economic strategy and there lies the problem.


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[THE_FOOT]

Originally Posted by brandrea

Well it does beg the question, where will all these workers come from?

Am I correct in assuming the unemployment rate is running at around 4% right now in the US? Isn’t that considered to be “full employment” by many economists?

So it begs the question, how many of those are ready to go to work?

The answer is simple, none.

[bluestreak]

Originally Posted by brandrea

Well it does beg the question, where will all these workers come from?

Am I correct in assuming the unemployment rate is running at around 4% right now in the US? Isn’t that considered to be “full employment” by many economists?

So it begs the question, how many of those are ready to go to work?

Immigration. Oh wait…

[brandrea]

Originally Posted by DoricSpiker

It’s an ideology Brian. It’s not actually an economic strategy and there lies the problem.


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Originally Posted by THE_FOOT

The answer is simple, none.

Originally Posted by bluestreak

Immigration. Oh wait…

Ok, just trying to follow along

[enjoythemusic]

Originally Posted by brandrea

Well it does beg the question, where will all these workers come from?

As certain sectors are downsized, human resources can be migrated to other tasks. From making buggy whips to cars and all that. That's the great part of reducing / eliminating swaths of jobs (in Wash DC for example), it makes humans available for other, dare we say, more economically productive tasks (versus them being a drag on taxpayers).

[brandrea]

Originally Posted by enjoythemusic

As certain sectors are downsized, human resources can be migrated to other tasks. From making buggy whips to cars and all that. That's the great part of reducing / eliminating swaths of jobs (in Wash DC for example), it makes humans available for other, dare we say, more economically productive tasks (versus them being a drag on taxpayers).

Ah, good thinking!


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[GradyPhilpott]

I've said many times that I don't know anything about money, but in this current situation, the best course for the individual, in my humble judgement, is to chill out and let things play out. Everything's going to be fine.

[BradSomrak]

Originally Posted by GradyPhilpott

I've said many times that I don't know anything about money, but in this current situation, the best course for the individual, in my humble judgement, is to chill out and let things play out. Everything's going to be fine.

Chill out and let things play out is pretty sound advice for……everything.

Amor Fati.

[FloydRedford]

Originally Posted by DoricSpiker

It’s an ideology Brian. It’s not actually an economic strategy and there lies the problem.


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Exactly. This is not about solving problems. In fact, it only will create them, leaving a mess. The reversal today indicates again that there is no strategy, just chaos, confusion, unpredictability… all things business owners and investors loathe.


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[DoricSpiker]

Originally Posted by enjoythemusic

As certain sectors are downsized, human resources can be migrated to other tasks. From making buggy whips to cars and all that. That's the great part of reducing / eliminating swaths of jobs (in Wash DC for example), it makes humans available for other, dare we say, more economically productive tasks (versus them being a drag on taxpayers).

The Chinese are laughing at this thinking. They are sending out memes with 50 odd year old Americans working in sweat shops behind sewing machines when they thought retirement beckoned.
Why have a great exporting or importing business when you could be working in a steel plant instead?
Reality has sunk in today. Thank goodness for that.


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[Dave O]

Originally Posted by GradyPhilpott

I've said many times that I don't know anything about money, but in this current situation, the best course for the individual, in my humble judgement, is to chill out and let things play out. Everything's going to be fine.

Agree. I've said the same numerous times on this thread. Did this create a lot of chaos? Absolutely. But it's all part of the art of the deal. In the end, we'll be better off and it'll just be a blip on the radar.

[hojlund]

tariffs have been called off, for 90 days.

[Maleg]

Originally Posted by Dave O

Agree. I've said the same numerous times on this thread. Did this create a lot of chaos? Absolutely. But it's all part of the art of the deal. In the end, we'll be better off and it'll just be a blip on the radar.

In the end tariffs will reduce real income and the GDP just like they did the first time this was tried four years ago. It was a bad idea then, and it's still a bad idea.

Be patient. It gets worse from here.

[0xSharp]

Originally Posted by hojlund

tariffs have been called off, for 90 days.

Lmfao, I was in Europe hunting non stop to get something before I returned home, secured a meteorite daytona the very last day I'm here.... and then boom.