Posted on 05/15/2019 12:27:29 PM PDT by SeekAndFind
President Donald Trump’s trade war with China could cost the average American family of four up to $2,300 a year, according to a report on the effect of tariffs on the U.S. economy and workers.
The study, by the economic consulting firm Trade Partnership Worldwide, assesses how tariffs will affect American consumers and the economy. According to the report, an average American family of four would pay $2,300 more in goods and services each year if Trump imposes a 25% tariff on all goods from China, as he has repeatedly threatened. If tariff levels remain where they are today, the average American family is expected to pay about $770 in higher costs each year the tariffs remain in place, says Laura Baughman, a co-author of the study and president at Trade Partnerships Worldwide.
The findings come as Trump and China have both escalated the trade dispute in recent days. As U.S. and Chinese negotiations met in Washington last week, Trump announced that he was raising tariffs from 10% to 25% on $200 billion worth of Chinese goods. China responded with a plan to increase tariffs on $60 billion in U.S. exports.
Then, on Monday, the Trump Administration outlined plans to impose additional tariffs on another $300 billion worth of Chinese imports, providing a list of products that include apparel, children’s toys, crafting products, sports equipment and shoes. That amounts to tariffs on virtually all Chinese imports.
The U.S. imported almost $540 billion in goods from China in 2018, while exporting $120 billion. Meanwhile, the U.S. imported $18 billion in services from China in 2018, while exporting almost $59 billion, though services are not directly affected by tariffs.
(Excerpt) Read more at time.com ...
Beef prices fluctuate all the time. When the price of a ribeye hits $10lb. it’s off the menu here.
Same thing for anything else when the price rises beyond what I’m comfortable paying.
Harbor Freight most affected.
It’ll also make China eat their own dog food.
Static Analysis. Bogus.
Excellent.
Sort of a value added lesson.
More money is made by the US hands through which the product passes than the small amount paid to China.
Can't listen to Rush now.....do any FReepers hear his take on tariffs ?
Thanks SeekAndFind. Thank goodness for those partisan media concern trolls.
Sure....I wonder what standard of purchasing they used in flubbing these numbers...whenever the say “could” or “possibly” and other such words, you know they’re pulling the “data” (a turd by any other name) out of their sex holes....
Sarge, Agree...to an extent.
The Chicoms murdered many of their female infants (made SOUP and STEW of some of them in starving rural villages!) to build a military and workforce of mostly males.
What they got was a military and workforce of SEXUALLY FRUSTRATED, HORNY MALES who MAY be so over the edge horny that, even at 50, to get laid for the first time, they MIGHT be capable of besting a military of sexually satisfied 30 year-olds.
LOL!
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