Economic, taxes, and tariffs discussion

[revo]

Asked and answered. The importer pays the tariffs. It has a negative impact on consumers, because selection goes down and prices go up. That said, it is a fraud to say the consumer pays for tariffs. That is only true when there is no other supplier available.

Often, a tariff will price a product out of the market or a significant reduction in market share. In that sense, the producing country's producers pay through lost wholesale sales. Of course, tariffs work both ways. We are getting close to an actual trade war, finally, where both countries see who can stand the lost sales the longest. So far we have had only minor escalation. If there is an actual war, it will be much worse. In the specific case of USA vs China. It will be much worse for China than for USA. Some of our retailers will welcome a chance to shift away from Chinese suppliers, due to the long list of complaints against various Chinese producers.

This is basic stuff. Why are you asking? For example, the so called farm bailout is a temporary adjustment. There are other purchasers, just not at the same price. It will hurt but not injure.

J

So if the importer pays the tariffs, why does he keep claiming China pays the tariffs? Isn't that a fraud he's perpetrating on the American public? In fact, he lied about it AGAIN while in Japan, fraudulently claiming that "China can no longer afford to pay the US tariffs." He's trying to bang home an exorbitant lie that the American public is not paying anything. In fact, the Fed just determined that the average cost of goods in the next 12 months will cost the average American family $831 more, so I hope you saved your tax cut savings -- and more -- Jay!

And yes, it's been a trade war since Dopey fired the first shot, against washing machines, in January 2018. What are you trying to protect? Why can't you admit it?

"So called" farm bailout? Jeez man, $28 BILLION in socialist welfare was just signed to be sent to them or already has been sent. Are you paying attention on this planet?

[revo]

From today's NY Times:

"While companies may be rethinking their supply chains, Mr. Isaac said he did not expect to see production shift back to the United States in meaningful volumes, the stated goal of Mr. Trump’s policies. So far, the data backs him up. Imports from China have fallen precipitously since the trade war began, both in electronics goods and over all. But that decline has been offset by increased imports from other countries. The nation’s trade deficit has been largely unchanged."

A swing and a miss for Dopey. Unbelievable that he didn't anticipate this.

Trade War Starts Changing Manufacturers in Hard-to-Reverse Ways

https://www.nytimes.com/2019/05/30/business/economy/trump-tariff-manufacturer.html?login=email&auth=login-email

[onejayhawk]

So if the importer pays the tariffs, why does he keep claiming China pays the tariffs? Isn't that a fraud he's perpetrating on the American public? In fact, he lied about it AGAIN while in Japan, fraudulently claiming that "China can no longer afford to pay the US tariffs." He's trying to bang home an exorbitant lie that the American public is not paying anything. In fact, the Fed just determined that the average cost of goods in the next 12 months will cost the average American family $831 more, so I hope you saved your tax cut savings -- and more -- Jay!

And yes, it's been a trade war since Dopey fired the first shot, against washing machines, in January 2018. What are you trying to protect? Why can't you admit it?

"So called" farm bailout? Jeez man, $28 BILLION in socialist welfare was just signed to be sent to them or already has been sent. Are you paying attention on this planet?

Because it is a reasonably valid simplification for lay people. China does not pay the tariff, but they do feel the pinch, as do we when they retaliate. Hence, the bailout. AS i said, the war may finally be here after all the dancing. This is why I was so firm that none of the other countries were trade wars, only disagreements. Even with China, it's still more of a border skirmish than full blown hostilities.

J

[revo]

Because it is a reasonably valid simplification for lay people. China does not pay the tariff, but they do feel the pinch, as do we when they retaliate. Hence, the bailout. AS i said, the war may finally be here after all the dancing. This is why I was so firm that none of the other countries were trade wars, only disagreements. Even with China, it's still more of a border skirmish than full blown hostilities.

J

No, it's not. Not even close. It's a fraudulent line of BS designed to pull the wool over his uneducated base's eyes. He always needs a boogeyman, and if the boogeyman is us, then the plan doesn't work.

[frae]

He’s back at this trade war thing but now he is tying it into immigration...

On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,......at which time the Tariffs will be removed. Details from the White House to follow.

[onejayhawk]

No, it's not. Not even close. It's a fraudulent line of BS designed to pull the wool over his uneducated base's eyes. He always needs a boogeyman, and if the boogeyman is us, then the plan doesn't work.

Fraudulent is too much. Oversimplification I can grant you. He's also telling a reasonable story, given the level of oversimplification. It isn't like he needed to create a boogeyman in this case. China really was acting out in a dozen ways.

J

[frae]

https://www.whitehouse.gov/briefings-statements/statement-president-regarding-emergency-measures-address-border-crisis/

Tariffs will go up 5% a month and possibly top out at 25% in October.

[revo]

https://www.whitehouse.gov/briefings...border-crisis/

Tariffs will go up 5% a month and possibly top out at 25% in October.

This clown is one trick pony of disaster who has no idea what he’s doing.

Hey OneJay, who will pay these tariffs, US importers (and as such, the consumer), or Mexico? So taxing US consumers is the answer here?

[Hornsby]

Stable Genius...best relationship ever with Mexico and Canada.

[onejayhawk]

https://www.whitehouse.gov/briefings...border-crisis/

Tariffs will go up 5% a month and possibly top out at 25% in October.

Using tariffs for something not trade related. Tricky. I do not agree with this one but it is rather ingenious.

J

[The Feral Slasher]

Using tariffs for something not trade related. Tricky. I do not agree with this one but it is rather ingenious.

J

Donny....ingenious

[umjewman]

Donny....ingenious

I can't be the only one thinking of Three Amigos! right now, can I?

Dusty: “What does that mean? Infamous?”
Ned: “Ah, Dusty! Infamous is when you're more than famous! This guy El Guapo is not just famous, he's IN-famous!”

[revo]

Using tariffs for something not trade related. Tricky. I do not agree with this one but it is rather ingenious.

J

It's ingenious to tax Americans and disrupt global business over a social issue! Now this is becoming Trade World War III! Thanks Dopey!

[TranaGreg]

Because it is a reasonably valid simplification for lay people. China does not pay the tariff, but they do feel the pinch, as do we when they retaliate. Hence, the bailout. AS i said, the war may finally be here after all the dancing. This is why I was so firm that none of the other countries were trade wars, only disagreements. Even with China, it's still more of a border skirmish than full blown hostilities.

J

and there's no concern re: escalation? seriously, is anyone in the white house looking more than one week into the future???

China has elevated rhetoric threatening to restrict exports of rare earth elements to the United States, implying through state media mouthpieces that a ban of the materials vital to high-tech manufacturing could be imminent. As U.S.-Chinese trade negotiations continue to spiral downward, Beijing is looking to hit back against the United States in the ongoing trade war. With major shifts on the horizon in the global rare earth elements market, China may be seeking to use its current control of this strategic resource as a retaliatory tool before that leverage begins to wane.

[frae]

Using tariffs for something not trade related. Tricky. I do not agree with this one but it is rather ingenious.

J

Do you in any way disagree that a tariff is just a tax on US consumers at this point? The importers pay the tariff and pass that onto the consumers. We are getting taxed so he can change the conversation about Mueller. This is a terrible idea and we are all going to be the ones to pay for his latest temper tantrum.


How a tariff works...

https://www.taxpolicycenter.org/taxvox/what-tariff-and-who-pays-it