Should UK, EU, etc retaliate to US tariffs?
Poll: Should UK, EU, etc retaliate to US tariffs?
Total Members Polled: 265
Discussion
Now that Trump has imposed huge tariffs on imports to the US, should the UK (and others) respond in kind?
I can understand that a gut reaction would be to respond in kind, but will that be an own goal?
The US tariffs are likely to reduce growth or lead to a recession because of reduced sales to the US, but wouldn’t imposing tariffs increase our inflation and lead to an even larger drop in GDP?
I can understand that a gut reaction would be to respond in kind, but will that be an own goal?
The US tariffs are likely to reduce growth or lead to a recession because of reduced sales to the US, but wouldn’t imposing tariffs increase our inflation and lead to an even larger drop in GDP?
Scrimpton said:
No, although I would be in favour of imposing an obligation for suitably large country of origin labelling on packaging etc. Let people make their own choice
But a UK producer would do that on their product.Take chickens. If US producers get access to the UK market and aren't obligated to put made in the USA on their label surely a UK producer would put Made in UK front and centre on their label?
Scrimpton said:
No, although I would be in favour of imposing an obligation for suitably large country of origin labelling on packaging etc. Let people make their own choice
I think more transparency on where a product is produced/sourced would be a really good thing. I don't know how easy it would be for products and goods to come with more information. Some food labelling is reasonably good, fruit and veg for example, but other items like prepared foods from backed goods to sauces etc. is less easy. It may say its made in UK, but the ingredients could be from all over the place. Other things like electrical devices, cars, furniture clothes should all come with more detail. Where are the materials sourced, where is it made, where is it assembled (if parts made elsewhere, where are they from).
Maybe some sort visual key/rating could work with info around the countries of origin, distance travelled, embodied energy/carbon (not very PH, but quite a few people are interested in this), maybe even some sort of fair trade type score (are worked looked after etc).
It sounds like a complicated idea, but a lot of that info is available if you spend a bit of time to do some research, it can't be that difficult for a producer to supply some simple info (for basic products), or more detailed (for complex products) do consumers are a bit more informed, it's then up to them if the want to go ahead and buy a poor rated product or not. Make the producers be more transparent, or they can't import things.
Silvanus said:
Scrimpton said:
No, although I would be in favour of imposing an obligation for suitably large country of origin labelling on packaging etc. Let people make their own choice
I think more transparency on where a product is produced/sourced would be a really good thing. I don't know how easy it would be for products and goods to come with more information. Some food labelling is reasonably good, fruit and veg for example, but other items like prepared foods from backed goods to sauces etc. is less easy. It may say its made in UK, but the ingredients could be from all over the place. Other things like electrical devices, cars, furniture clothes should all come with more detail. Where are the materials sourced, where is it made, where is it assembled (if parts made elsewhere, where are they from).
Maybe some sort visual key/rating could work with info around the countries of origin, distance travelled, embodied energy/carbon (not very PH, but quite a few people are interested in this), maybe even some sort of fair trade type score (are worked looked after etc).
It sounds like a complicated idea, but a lot of that info is available if you spend a bit of time to do some research, it can't be that difficult for a producer to supply some simple info (for basic products), or more detailed (for complex products) do consumers are a bit more informed, it's then up to them if the want to go ahead and buy a poor rated product or not. Make the producers be more transparent, or they can't import things.
If you look at a car then the raw materials will have come from all over the globe, those would have been turned into parts in many countries and then finally assembled somewhere into the car.
How do you break out what percentage is produced in each country? By volume of materials, by weight, by value? Is that value based on import value or sales price (which includes locally provided services)?
It is certainly possible but requires a lot of information and also a lot of value judgements. Without globally agreed rules two countries could have very different values for the same product.
I think public soft power will have a greater effect than governments raising to the bait. We are already seeing people and companies avoiding the USA and its products for a myriad of good reasons.
Even before this poo storm I recall in my line of business avoiding direct US products or systems with US components due to ITAR/EARS regulations being a minefield. Now you add these recent events to the pot and the case for not using or buying anything from the US has got even stronger and broader.
Even before this poo storm I recall in my line of business avoiding direct US products or systems with US components due to ITAR/EARS regulations being a minefield. Now you add these recent events to the pot and the case for not using or buying anything from the US has got even stronger and broader.
Skeptisk said:
Silvanus said:
Scrimpton said:
No, although I would be in favour of imposing an obligation for suitably large country of origin labelling on packaging etc. Let people make their own choice
I think more transparency on where a product is produced/sourced would be a really good thing. I don't know how easy it would be for products and goods to come with more information. Some food labelling is reasonably good, fruit and veg for example, but other items like prepared foods from backed goods to sauces etc. is less easy. It may say its made in UK, but the ingredients could be from all over the place. Other things like electrical devices, cars, furniture clothes should all come with more detail. Where are the materials sourced, where is it made, where is it assembled (if parts made elsewhere, where are they from).
Maybe some sort visual key/rating could work with info around the countries of origin, distance travelled, embodied energy/carbon (not very PH, but quite a few people are interested in this), maybe even some sort of fair trade type score (are worked looked after etc).
It sounds like a complicated idea, but a lot of that info is available if you spend a bit of time to do some research, it can't be that difficult for a producer to supply some simple info (for basic products), or more detailed (for complex products) do consumers are a bit more informed, it's then up to them if the want to go ahead and buy a poor rated product or not. Make the producers be more transparent, or they can't import things.
If you look at a car then the raw materials will have come from all over the globe, those would have been turned into parts in many countries and then finally assembled somewhere into the car.
How do you break out what percentage is produced in each country? By volume of materials, by weight, by value? Is that value based on import value or sales price (which includes locally provided services)?
It is certainly possible but requires a lot of information and also a lot of value judgements. Without globally agreed rules two countries could have very different values for the same product.
The energy efficiency label is one that is used throughout the EU and the UK, it wouldn't be impossible to agree on some sort of label that covers info around where things are produced and manufactured. It would be positive for consumers and companies that try to produce goods locally. I certainly know people who would welcome something along these lines and just because the information gathering might be difficult at first shouldn't stop it happening. For some goods there are already simple standardised certification around sourcing, this would just go a step further.
). Also we add 20% vat to all their goods anyway.dvshannow said:
CraigyMc said:
wyson said:
119 said:
Starmer did well for us to be fair.
Trump wanted 5% but Starmer managed to get us 10%!
10% is the minimum rate. The tariffs have been applied to everyone.Trump wanted 5% but Starmer managed to get us 10%!
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