Scott Lincecum
👤 PersonAppearances Over Time
Podcast Appearances
No, it's by value. Typically by value. Sometimes they do it by weight or whatever, but most of our tariffs are what we call ad valorem. It's dumb Latin. It just means by value. So if you have a 25% tariff and you're bringing over $100 worth of avocados, you're going to get a bill at the border for $25.
No, it's by value. Typically by value. Sometimes they do it by weight or whatever, but most of our tariffs are what we call ad valorem. It's dumb Latin. It just means by value. So if you have a 25% tariff and you're bringing over $100 worth of avocados, you're going to get a bill at the border for $25.
They charge the importer, yeah.
They charge the importer, yeah.
They charge the importer, yeah.
They charge the importer, yeah.
They charge the importer, yeah.
That's actually a really important point. Mexico isn't launching avocados across the border. These are – I mean – Not yet.
That's actually a really important point. Mexico isn't launching avocados across the border. These are – I mean – Not yet.
That's actually a really important point. Mexico isn't launching avocados across the border. These are – I mean – Not yet.
That's actually a really important point. Mexico isn't launching avocados across the border. These are – I mean – Not yet.
That's actually a really important point. Mexico isn't launching avocados across the border. These are – I mean – Not yet.
Almost all trade has a willing consumer on the other end, an importer. So think of a company like Walmart. Walmart is buying from a seller in China or Japan or wherever, Mexico. And when the boat arrives with Walmart's purchases, Walmart is then actually taking possession of those at the border. And it's not a guy with avocados from Mexico.
Almost all trade has a willing consumer on the other end, an importer. So think of a company like Walmart. Walmart is buying from a seller in China or Japan or wherever, Mexico. And when the boat arrives with Walmart's purchases, Walmart is then actually taking possession of those at the border. And it's not a guy with avocados from Mexico.
Almost all trade has a willing consumer on the other end, an importer. So think of a company like Walmart. Walmart is buying from a seller in China or Japan or wherever, Mexico. And when the boat arrives with Walmart's purchases, Walmart is then actually taking possession of those at the border. And it's not a guy with avocados from Mexico.
Almost all trade has a willing consumer on the other end, an importer. So think of a company like Walmart. Walmart is buying from a seller in China or Japan or wherever, Mexico. And when the boat arrives with Walmart's purchases, Walmart is then actually taking possession of those at the border. And it's not a guy with avocados from Mexico.
Almost all trade has a willing consumer on the other end, an importer. So think of a company like Walmart. Walmart is buying from a seller in China or Japan or wherever, Mexico. And when the boat arrives with Walmart's purchases, Walmart is then actually taking possession of those at the border. And it's not a guy with avocados from Mexico.
It's actually, they're shipping it, Walmart's taking possession, and that's when they're paying the bill of customs.
It's actually, they're shipping it, Walmart's taking possession, and that's when they're paying the bill of customs.
It's actually, they're shipping it, Walmart's taking possession, and that's when they're paying the bill of customs.