India now a 1st world country rules WH, tariffs incoming

[Cuddles]

https://www.bloomberg.com/news/arti...ia-s-trade-designation-as-a-developing-nation

Trump Ends India’s Trade Designation as a Developing Nation

President Donald Trump terminated India’s designation as a developing nation under a trade program, eliminating an exception that allowed the country to export nearly 2,000 products to the U.S. duty-free.

“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation on Friday evening. “Accordingly, it is appropriate to terminate India’s designation as a beneficiary developing country effective June 5, 2019.”

 

[Specterx]

The current system is totally backwards.

Developing countries with much lower wages, weak labor, health and safety standards, and poor environmental controls should be subject to large tariffs - both to protect our own markets and workers, and prevent U.S. companies from "outsourcing" pollution and labor exploitation in what amounts to regulatory arbitrage.

Free trade is beneficial and works just fine between rich economies like Canada, the US, the EU, and Japan, where such arbitrage isn't possible.

 

[newwurldmn]

The current system is totally backwards.

Developing countries with much lower wages, weak labor, health and safety standards, and poor environmental controls should be subject to large tariffs - both to protect our own markets and workers, and prevent U.S. companies from "outsourcing" pollution and labor exploitation in what amounts to regulatory arbitrage.

Free trade is beneficial and works just fine between rich economies like Canada, the US, the EU, and Japan, where such arbitrage isn't possible.

The whole point of free trade is comparative advantage.

By your logic red states should suffer higher taxes because they have weaker labor laws and less environmental regulations than blue states.

 

[gaussian]

By your logic red states should suffer higher taxes because they have weaker labor laws and less environmental regulations than blue states.

That isn't what they are arguing at all and is a really poor strawman. If you're going to strawman someone at least invest some time in coming up with a good one.

Their argument is that due to lower wages and standards companies in first world countries are incentivized via regulatory arbitrage to export labor outside of the country to third world countries where regulation, health standards, and quality are less but bang-to-buck ratio is excessively high. This hurts our market because it exports jobs to a third world country. It hurts our people because these countries do not follow the same set of standards (lead paint in China is a great example) we generally accept to be good for our people.

Heavy tariffs imposed on these countries dis-incentivize enterprising companies by removing the significant financial gain they can get arbitraging our regulations and by extension our people. Specter is completely right and you've missed basically the second week of macroeconomics. Nice.

 

[newwurldmn]

What is the straw man argument? South Carolina has lower wages and less environmental regulations than Massachusetts. Companies are growing in South Carolina and divesting from Massachusetts. It’s literally the exact same situation as india vs America.

Yes. Lower costs in India hurt America’s labor force in that jobs move overseas. Free trade also allows Americans to buy goods cheaper than they would under a less free system. This is literally macro economics 101 and was espoused in Weslth of Nations. You should read it. It’s a little thick and long and admittedly it’s been 25 years since I read it (in high school).

To be supportive of tarrifs on India cannot be made on an economics basis. It can be made on a jingoistic basis, which is your what your real argument actually is.

Your Economics argument is the really poor straw man. Next time please invest some time in coming up with a better argument.

Perhaps the second week of your macro economics class was on the benefits of socialism. Nice.

That isn't what they are arguing at all and is a really poor strawman. If you're going to strawman someone at least invest some time in coming up with a good one.

Their argument is that due to lower wages and standards companies in first world countries are incentivized via regulatory arbitrage to export labor outside of the country to third world countries where regulation, health standards, and quality are less but bang-to-buck ratio is excessively high. This hurts our market because it exports jobs to a third world country. It hurts our people because these countries do not follow the same set of standards (lead paint in China is a great example) we generally accept to be good for our people.

Heavy tariffs imposed on these countries dis-incentivize enterprising companies by removing the significant financial gain they can get arbitraging our regulations and by extension our people. Specter is completely right and you've missed basically the second week of macroeconomics. Nice.

 

[toc]

These tarrifs are on 2000 goods worth $6B a year i.e. barely $1.2B at 20% tariff rates which is minimal for $2.8 Trillion economy. I doubt the tariffs would be 20% rate and be much lower like 10% or so when implemented.

On the other hand, India loses $80B a year due to pollution in its cities, garbage management and practices and outright neglect of basic social hygiene. Government is doing "very little" to tackle this mammoth problem.

Can't blame the USA for merely asking to "button up" the shirt by one single notch.

Too much coddling has been done. The third world countries need to act for their own good.

US does not have to send dump trucks to clean garbage on the Indian streets. Living in New Delhi is equivalent to smoking 15 cigarettes a day............US not to blame here either ;-)

 

[srinir]

It is laughable to make environmental regulation as the basis to defend tariff for this administration. It has chipped away any and all regulations on environmental.

Last time i checked, it was the US which backed away from Paris agreement. It is not like US does not have subsidies for its industries. Look at the farm subsidies, subsidies for Boeing and lack of regulatory oversight on Boeing just to speed up against the competition.

 

[Cuddles]

It is laughable to make environmental regulation as the basis to defend tariff for this administration. It has chipped away any and all regulations on environmental.

Last time i checked, it was the US which backed away from Paris agreement. It is not like US does not have subsidies for its industries. Look at the farm subsidies, subsidies for Boeing and lack of regulatory oversight on Boeing just to speed up against the competition.

Suddenly it's the right wing that cares about the environment over profits

 

[toc]

It is laughable to make environmental regulation as the basis to defend tariff for this administration. It has chipped away any and all regulations on environmental.

Last time i checked, it was the US which backed away from Paris agreement. It is not like US does not have subsidies for its industries. Look at the farm subsidies, subsidies for Boeing and lack of regulatory oversight on Boeing just to speed up against the competition.

Dirty Dweller !! accept the fault and work to improve it.........not blame others because your country squanders 10s of billions annually because of garbage and pollution related healthcare costs.

Stop posting "SHAMELESS" counter arguments on Paris treaty or farm subsidies..........instead focus on nullifying the fact that most of the Indian children grow up in garbage, mud and wretched inhumane pollution.

 

[toc]

Suddenly it's the right wing that cares about the environment over profits

Buddy I am NOT right wing but "human ethics wing".

West should declare that will constantly reduce doing business with countries that "do little" about garbage, pollution and living conditions of people.

Within six months, a marked permanent change for better will be seen.........for the humanity.