Panama uses the US Dollar as currency, I believe its a throwback to when the US had total control of the Panama Canal.
Prices up
- Thread starter Andyroo
- Start date
It hard to keep up with the reality behind the current tariff wars.
I asked Google: what countries were exempt from the 10% tariff in April
It says no countries were exempt, even though Mexico and Canada initially were.
Then it says the tariffs started April 5th, then were put on 90 day suspension on April 9th.
That is not to deny that there are tariffs applied to come countries, but the previously mentioned 10% does not appear to be in effect.
I did other searches asking about Panama specific tariffs and got the response that US and Panama have duty free trade on almost all goods.
Again, the truth of these things are hard to follow, as many news outlets are very eager to make false claims and omit factual truths.
I asked Google: what countries were exempt from the 10% tariff in April
It says no countries were exempt, even though Mexico and Canada initially were.
Then it says the tariffs started April 5th, then were put on 90 day suspension on April 9th.
That is not to deny that there are tariffs applied to come countries, but the previously mentioned 10% does not appear to be in effect.
I did other searches asking about Panama specific tariffs and got the response that US and Panama have duty free trade on almost all goods.
Again, the truth of these things are hard to follow, as many news outlets are very eager to make false claims and omit factual truths.
I certainly agree it is hard to keep up. I try to watch multiple news sources even though I prefer certain ones, so as to not fall into any 1 sources particular bias or opinion, but thats difficult too. I believe the 90 day suspension was only on the reciprocal tariffs, not the original 10%, but even if I am wrong on that point, the 90 days would have expired in early July. Regardless, we don't import directly so I can't say what tariff is actually being paid, but I can say our costs have increased from our suppliers. And those increases were mostly implemented in July or the first of August.
The US has imposed a 50% tariff on Brazil. Which means that a fish that cost a fish vendor in the US $100 to import now costs $150.
And if an LFS charges its retail customers 3 times its wholesale price (which is typical), then that fish costs you or me $450 vs. $300.
And if an LFS charges its retail customers 3 times its wholesale price (which is typical), then that fish costs you or me $450 vs. $300.
I do quite a bit of aquatic importing from asia and Europe. My prices have had to go up mostly due to the dollar weakening against the euro and asian currencies.
There are ways to reduce the cost of tariffs on the importer, so tariffs actually haven't had much of an impact. But there's not much you can do when the US dollar can't buy as much foreign currency as it used to.
There are ways to reduce the cost of tariffs on the importer, so tariffs actually haven't had much of an impact. But there's not much you can do when the US dollar can't buy as much foreign currency as it used to.
