Import Duties/Tariffs for the USA: The Basics (2025)

[sigbergaudio]

Correct me if I'm wrong. The following text is meant to be complementary to Norway.

Norway was and apparently still is, smart enough to stay out of the EU. This allows Norway to produce its oil and gas without limits from the EU. I believe Norway has been smart with its revenues and built-up a large sovereign wealth fund.

A relatively small population and the revenue from natural resources has been great for Norway and has allowed Norway a lot of flexibility in its dealings with the rest of the world including on imports, exports and tariffs. Most of Norway's neighbors in the EU are short natural resources, both energy and material.

Not being in the EU also allows Norway to subsidizes its farmers as it wishes without interference from the EU.

This is mostly correct, but we have a lot of agreements with EU and are to some extent asked to follow EU regulations. This is because we are apart of The Agreement on the European Economic Area (EEA). So we get many of the benefits of EU including access to the EU market, but in return have to follow various rules and regulations.

 

[Travis]

Agreed. The first post was during the initial gap, but I should update it.

That said, de minimis was removed for China and Hong Kong but I don’t see that they removed it for EU or Japan, for example.

It’s day by day. The 4/2 order makes China permanent. Canada and Mexico have temporary “no de minimus.” EU?

If there is something only in EU that they will send direct to consumer (vs. contact your dealer) and $160 savings is essential do it now. These are all at stroke of a pen.

There are 5 bills in Congress on De Minimus, working their way through, and for the most part leave it up the executive branch to do what it deems necessary.

 

[Travis]

Correct me if I'm wrong. The following text is meant to be complementary to Norway.

Clearly that author thinks so. When is it from? Norway has the benefit of being a member of EAA, they get the benefits of that, but they have limited or no input.

The way the EU works is that the richest countries pay the most fees, and receive the least subsidies. Historically, because Norway is richest in EAA, it will cost them the most to join so they have been putting it off. Polling shifted from about 55% against joining, to even (depending on whose polls you believe). The shift has been in the last 2 years (invasion of Ukraine and uS policy on trade/tariffs ).
(There was an article about this in the Financial Times yesterday if you subscribe).

The two main political parties (Labor and Conservative) are in favor of starting the joining process again according to the FT.

 

[amirm]