Trump puts 25% tariff on Chinese goods

BBC ^ | 10 Minutes ago

[Georgia Girl 2]

Winning!

[Does so]

I’ll shop the dollar stores When I’m nearby.

Yesterday, I noticed the greeting card aisle and detergent aisles were full of stuff. Big piles of party items, but quality items were way down.

[Hawthorn]

>> The result may be that we buy less of the Chinese product, decreasing the trade deficit <<

Probably not. Our “trade deficit” is simply the mirror image of net foreign investment in the USA. In other words, our “trade deficit” and our “investment surplus” are always equal to one another — but with the opposite signs. It cannot be otherwise, given the way that national income statistics are put together.

Therefore, unless you can come up with a formula to insure that the USA always invests more overseas than foreigners invest in our economy, there will always be a so-called trade deficit. It’s a logical outcome that will not be changed — regardless of whether we have a regime of complete free trade, or a regime of very high tariffs or a trade regime that’s somewhere in between.

[Beautiful_Gracious_Skies]

Some of their stuff ain’t half bad. Some of the greeting cards are recycled pulls from past years 2.99-3.49 regular stores’ stock.

[Hawthorn]

>> If this continues it will soon be cheaper to make things in the US <<

No, because our unemployment is now at record low levels. We simply don’t have the labor force to manufacture even a fraction of the electronics, shoes, textiles, etc. etc. that we import from China and the rest of the world.

Therefore, if you want to substitute U.S.-made goods for a substantial portion of our imports, you’d need to pay huge wages to millions of Americans. in order to draw them out of the high-tech and service industries — after which they presumably would take jobs in factories. How would that work out? Not very well, IMHO.

[Vaduz]

Good old boy club kickback scam takes ass kicking great news.

[central_va]

Prices will be higher, post tariff which is the whole point. Much higher at first then lower later on as domestic supplies kick in. The higher cost will be the difference in US labor/regs minus cheaper shipping costs. I'd estimate 5-7% higher. But quality will go up too. Yes, the one time inflation is worth it to me and a lot of other patriots.

The situation is DYNAMIC not static. The tariff is the beginning and not the end of the process.

[Grampa Dave]

If US tariffs are bad for the US economy, why is no one discussing why country X’s current and retaliatory tariffs are bad for X’s economy?

http://freerepublic.com/focus/news/3669470/posts?page=5#5

Thanks to: kosciusko51 for this anti tarriff shredding reality!