Before we progressed to bars for socialising, there were the rum-shops – some of which, trust your Eyewitness!! – are still around !! And rum-shops habitues remind us where we stand in the pecking order by pointing out that “Lil Bottles” are on different shelves than “Big Bottles”!! Well today we have a VERY “big bottle” in the US White House by the name of Donald Trump, whose leadership style the rest of the world better get used to. His confidence is summarized by that old Sinatra standby, “If you can make it in New York; you can make it anywhere!!” And quintessentially New Yorker Trump has certainly made it!!
To ensure he gets his way in the world for America, Trump has any number of persuasive arguments at his disposal. Right there on top are the 5000 nuclear warheads in his arsenal – and the street cred of being leader of the only nation to use them against another country – at Hiroshima and Nagasaki!! The bunker busters he launched recently against Iranian nuclear enrichment facilities was just a (not so gentle!) reminder of what else he could do!!
Anyhow, the latest weapon he’s deployed – against both friends and enemies – was to arbitrarily impose imposing, arbitrary tariffs on US imports. Now, tariffs are taxes on goods entering your country. But while the Government collects those tax revenues – importers usually pass on the amounts by raising prices on the goods – which are then borne by the customers!! Apart from Govt revenues, the tariff theory proposes two benefits – firstly; the higher prices make consumers balk and reduce imports, and secondly; local producers can compete easier – and boost local GNP.
So Pres Trump initially slapped a 38 per cent tariff rate on our exports to his country – which raised quite a storm of outrage here – and also the “Big Bottle” question!! It was of little comfort that the tariffs against his close allies line like the EU, Canada and Mexico were of the same order – or higher!! The high tariffs were also intended, Trump insisted, to remove “trade barriers” we’d all imposed against American goods. “Negotiations” followed and our people had to’ve said, “What trade barriers??” And pointed out that most of our exports to the US was Exxon shipping their share of Stabroek’s oil – and the price that Exxon billed itself when “exporting” to its US refineries doesn’t go into our coffers!!
Well, Trump just said our tariff’s gonna be 15 per cent and our Gov says they’ll keep on jawboning. Ultimately, those who’re kvetching about our Government’s efforts better appreciate that the Big Bottle’s on the top shelf!!
…or prudence?
As we all should know by now, the Trump Administration, through its Treasury’s OFAC department, last year slapped sanctions against local gold exporter Mohamed Enterprise and its principals – father and son Azruddin Mohamed. But it became clear we still have a ways to go in understanding how US sanctions work. Folks in Venezuela who have long been sanctioned just roll with the punches and adjust their activities.
Here, after the Government shut down the local Mohameds’ businesses, the son launched a political party, WIN, to contest the Sept 1 elections – with himself as Presidential candidate. After local Demerara Bank closed the accounts of a number of individuals running on the WIN ticket, they explained the OFAC prohibitions include “the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person…” See the rationale?
Now while Demerara Bank may be operating locally they have a relationship with a “corresponding” US bank that could also be penalized. Well, who told them to protect their shareholders’ interests??!! Critics however claimed it’s THE GOVERNMENT “victimizing” WIN!!
GBTI and Citizens bank have now followed DB’s move!! But the Government’s still blamed – not those wannabe Big Bottles!
…or monster?
NY Times claims a dead Palestinian child already had “pre-existing health conditions”. They don’t see the irony that Nazis could’ve said “The gassed Jews were already bronchial”.
