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Trump's Tariffs impact on Bulgaria

Kath948381

How will Trumps tariffs affect Bulgaria? Any ideas?

See also

Living in Bulgaria: the 做厙輦⑹ guidePrice of a Square/MMains sewerageWood worm treatmentGift for neighbours
Fred

You might be better looking at how they will hit you and other 做厙輦⑹s.

If you are working there, is there any danger you will lose your job?

If you are paid in USD or GBP, what will happen to the exchange rate in these very volatile times?

If you have any investments, will the plummeting stock market cause you to lose money?


and so on.

JimJ

Bulgaria imports as much from the US as it does from Macedonia, ie a tiny c1% of annual imports (worth c$500million) and exports c2.5% to the US (c$1billion - including some rather weird exports, like coin)


The primary effects we're likely to feel are due to the price of commodities within the EU as a whole fluctuating as the major economies' exports are hit by the tariffs, rather than a direct impact on yet another "country that no-one's ever heard of " in the US...


Worst case scenario from my point of view is that it might lead to a bit of belt tightening, resulting in my trousers fitting better than they have been of late!

Kath948381

Thank you both for your replies, I'm a pensioner so not likely to be seeking paid employment and we'll able to live within my means thankfully. A non driver as well.

Fred

Thank you both for your replies, I'm a pensioner so not likely to be seeking paid employment and we'll able to live within my means thankfully. A non driver as well. - @Kath948381

Assuming you have UK pensions, you would do well to keep an eye on the exchange rate.

janemulberry

I think the exchange rate fluctuations will be the main issue, as Fred says. The GBP is weak against the EUR right now, so UK pension income paid in GBP would convert into fewer BGN if you get paid today. My book royalties are paid in USD and the fluctuations of the USD against the GBP have been "interesting" to watch! It went up, it went down, it's climbing back up again.


However, things are so volatile that may all change tomorrow!


As you already do, living simply, keep a watch on prices and what we have available to spend, and ensuring we spend within the limits our means allow is the best solution.

JimJ

Uncle Vlad is no doubt hiring, if you need a side hustle: El Presidente blew his own cover decades ago and so many folks have accidentally fallen out of windows lately that he has to rely on BTv and FaceBook for all his information..

SimCityAT

Where as the EU are hit with 20% tariffs, take a thought about the poor Penguin's penguin hit with a 10% tariff.

cyberescue1

@Kath948381

Hi Kath,

Well, my private pension pot has lost value, with immediate affect. It's paid in GBP. That's because the entirety of the worldwide stock markets took a huge nose dive. However, as with all these dives, there's nearly always some kind of recovery, at some point, so I can only hope it, at least, returns to near it's recent value.

The exchange rate has dropped too. The pound was fetching around 2.34 Leva, last month, now it's tumbled to 2.28. That means I lose 128 Leva this month, assuming it stays at this rate.

Kath948381

Yes I noticed today that the exchange rate had fallen quiet a lot. But I transfer money into my Bulgarian bank account when I'm back in the UK and as I said before I'm used to being brought up on free school meals and in an old two up two down terraced house with no hot water and an outside toilet so life in a Bulgarian village with no hot water in the downstairs area and at least I have an upstairs bathroom with a shower and hot water.

JimJ

A real outside toilet - with walls AND a roof? Ey-oop, lass - you were LUCKY!

Fred

Yes I noticed today that the exchange rate had fallen quiet a lot. But I transfer money into my Bulgarian bank account when I'm back in the UK and as I said before I'm used to being brought up on free school meals and in an old two up two down terraced house with no hot water and an outside toilet so life in a Bulgarian village with no hot water in the downstairs area and at least I have an upstairs bathroom with a shower and hot water. - @Kath948381

In an old reality, I was in the same metaphorical boat as you.

I used to get up in the morning at night at half-past-ten at night, half an hour before I went to bed, Eat a lump of freezing cold poison, work 28 hours a day at mill, and pay da mill owner to let us work there. And when I went home our dad used to murder us in cold blood, each night, and dance about on our graves, singing hallelujah.


Slightly more seriously, that 2 up, 2 down, outside bog in winter upbringing serves me well. I can afford a 'glass of Chateau du Chasseur' lifestyle, but I have none of the greed or high expectations so many people ruin their lives with.

That might prove handy for both of is in a messy, Trump damaged, world.

One worry to consider is pension payments. Private funds might well suffer with the markets, and state funds might be wiped out in effective value for a number of reasons.

Stick in in the bank in low risk funds, and try to edge your bets in whatever ways suit your situation.

We have deposito funds. The interest is far lower that you get with an investment portfolio, but they are government insured. The rates are above inflation by a factor of 2 or 3 over time.

Perhaps you have something similar over there.

Kath948381

Wow why do men think that they're funny? Sados

Fred

Wow why do men think that they're funny? Sados - @Kath948381

Monty Python was considered to be quite amusing.

Sadly, woman have little natural humour, but they tend to be sexist.

Kath948381

Oh I never had a TV either not until the 1970s when I had my son's.

JimJ

@Kath948381

Did he ever find out who'd swiped it?

Fred

@Kath948381 Did he ever find out who'd swiped it? - @JimJ

Tht's up to the sweeny or the bill to suss out, but I'll bet Arthur Daley was behind it.

Damm, I'm trying to be funny again

Kath948381

No I bought a small travel TV when I had my children.

Kath948381

Until then and now I'm here it's more or less Radio 4

Fred

Until then and now I'm here it's more or less Radio 4 - @Kath948381

Radio 4 is my station of choice over breakfast

That or the BBC world service


They have a very nice site for free listening

Kath948381

I've never tried he World Service but both my boys and my husband didn't know about the week day comedy on Radio 4. Until they visited me here, and they really enjoyed them . In fact husband finds David Sideriuos ( excuse spelling) on listen again and we heard it this morning. I enjoy farming today and the news every morning here.

Kath948381

But husband has brought a TV here so he can watch the football , ruby and other sports. But I still prefer BBC radio 4.

Kath948381

Second husband that is

SimCityAT

I have an Alexa for all my radio needs.


I also have app on my smart TV, and also use through my computer.


A great site as it also has free podcasts.

JimJ

@Kath948381

I've never got the hang of this new-fangled programming: I still listen to the Home Service on my trusty wireless set, with an occasional foray into the Third Programme if there's anything that piques my curiosity. Mind you, Auntie hasn't been herself since Alvar Liddel hung up his spurs...

Fred

@Kath948381
I've never got the hang of this new-fangled programming: I still listen to the Home Service on my trusty wireless set, with an occasional foray into the Third Programme if there's anything that piques my curiosity. Mind you, Auntie hasn't been herself since Alvar Liddel hung up his spurs... - @JimJ

I've been into radio for years so, when I moved away from Blighty, I made sure I had a pocket short wave radio with me.

My little Icom 0.5 to 1300 mhz receiver was a really handy tool as I lived in a tiny village with no Internet.

Kath948381

I had to get my youngest son to bring radios from the UK to me here as you cannot buy internet or dab radios here in Bulgaria. I'm not sure which ones they are but whatever I'm an old lady who hasn't kept up with tech.

Fred

I had to get my youngest son to bring radios from the UK to me here as you cannot buy internet or dab radios here in Bulgaria. I'm not sure which ones they are but whatever I'm an old lady who hasn't kept up with tech. - @Kath948381

You can use any smartphone, tablet, or computer.


JimJ

You can buy pretty much any tech you want here - no need to bring them from the UK. Also, Temu, Ali Express, Banggood etc all deliver, and you can get stuff delivered from Amazon Germany either direct or via a shipping company....

Kath948381

I'm sure you can but when I checked or rather when my second son tried we could only find one outlet in Burgas city and when we followed the directions instead of a shop it was a block of flats.

janemulberry

You can buy pretty much any tech you want here - no need to bring them from the UK. Also, Temu, Ali Express, Banggood etc all deliver, and you can get stuff delivered from Amazon Germany either direct or via a shipping company.... - @JimJ

Talking of Temu et al., have the new EU laws on import duties for items from China that were previously discussed been enacted yet? I wanted to order some bits for my house on Temu, but not if it's going to get expensive and complicated to pay for customs clearance.

Kath948381

Personally Jane I try never to buy any goods from China because of the slave labour by the unfortunate Muslim Chinese people. And to tell the truth that Temus slogan of " live like a Billionaire" when selling plastic rubbish. So there's my reasons for doing my level best not to buy goods from there.

Kath948381

If I was actually a billionaire I'd pay someone else to do the work for me.

Fred

Personally Jane I try never to buy any goods from China because of the slave labour by the unfortunate Muslim Chinese people. And to tell the truth that Temus slogan of " live like a Billionaire" when selling plastic rubbish. So there's my reasons for doing my level best not to buy goods from there. - @Kath948381

You have to be vary careful of propaganda that offers no evidence.

I recall watching a load of old rubbish from North Korea that showed the US as a country populated by mostly homeless people. NK said they were going to send food parcels to relieve the Americans' pain.

It was very smooth and, if I didn't know better, looked as if it could be truthful.


The same goes for propaganda aimed at China. I've heard the same accusations, but the only evidence I have ever found is from people with a dog in the race.

Kath948381

No " dog in the race" Fred just saying what I believe about the Ungars ( excuse spelling) and what I've read in the Guardian years ago .

Fred

No " dog in the race" Fred just saying what I believe about the Ungars ( excuse spelling) and what I've read in the Guardian years ago . - @Kath948381

The Guardian is into left wing politics. It's better than the right wing rubbish we know as the Daily Mail, but they both lie for politics/cash.

I started reading every UK national newspaper every day when I was 11 - even at that young age I could see the lot lie when it suits them.

JimJ

@Kath948381

It's quite common for shops to operate on the ground floors of apartment buildings, or from offices in such buildings. Didn't you try calling them to ascertain if you were in the correct place?

JimJ

You can buy pretty much any tech you want here - no need to bring them from the UK. Also, Temu, Ali Express, Banggood etc all deliver, and you can get stuff delivered from Amazon Germany either direct or via a shipping company.... - @JimJ
Talking of Temu et al., have the new EU laws on import duties for items from China that were previously discussed been enacted yet? I wanted to order some bits for my house on Temu, but not if it's going to get expensive and complicated to pay for customs clearance.
- @janemulberry

Nope. The Boss is still buying junk/kitsch and it's still rocking up as before. I think there's already a swingeing tariff on purchases from Temu and their ilk: she seems to be paying at least 200% of what the stuff is worth.......

janemulberry

Kath, it's very hard to know the truth of what is happening, as every media item is slanted to a particular viewpoint. China probably does have issues with unfair treatment of minorities. But so does the US. It doesn't justify such wrongdoing, but one has to wonder -- which country is good enough and moral enough to buy from? Unfortunately there are no simple solutions.


I would prefer to buy second hand if possible, but it's not always easy to find what is needed. And when buying new, so many items for sale in the stores or online are either made in China or are assembled elsewhere using components made in China. The complexity of modern supply chains would make it near impossible to buy something that didn't have a Chinese connection in some way, no matter what the "Made in" labels says. For example, Made in Britain sheets sewn in the UK using fabric woven in Pakistan from cotton grown in China (one of the main products alleged to be produced using slave labour). And the recent issue with tomato paste sold in UK supermarkets labelled "Made in Italy" being processed and packed in Italy using Chinese tomatoes.


There are a few simple Chinese-made items on Temu that would work well for my kitchen - bamboo shelves for example, that are just the right size to fit into the small spaces I want to make use of. I am not going to feel guilty if I choose to buy them on Temu, despite also hating their tacky slogan and being completely opposed to oppression of minorities.

Kath948381

I try not to buy stuff from either China or the USA but then again I'm so old I've got most of the stuff I wear or need years ago thankfully