Trump will raise tariff rates on Chinese goods in response to trade war retaliation

CNBC ^ | 08/23/2019 | Jacob Pramuck

[mplc51]

President Donald Trump said the U.S. will hike tariffs on most imports from China as his trade war with Beijing escalates. The U.S. will raise duties on $250 billion in Chinese goods to 30% from 25%, and increase tariffs on another $300 billion in products to 15% from 10%. Earlier, China announced new tariffs on $75 billion in U.S. goods — and Trump ordered U.S. companies to find an “alternative” to operating in China.

[gibsonguy]

Right, the COC is filled with open border traitors.

[JoSixChip]

Does China need Walmart more than Walmart needs China?

if you remember, not that long ago, wallmart used to pride itself on caring only American products. Now it's almost all Chinese. It wont be fast, but wallmart can, and will, source from other countries and America soon. It was a short term and bad business decision to go all Chinese, a decision they will pay for. I do expect to see harbor freight going out of business soon.

[ExpatCanuck]

We have the financial and military capabilities to totally destroy any other country on the planet. PDJT understands that and is hitting them where it hurts the most (the wallets of their elites) and it is a brilliant strategy. I’m happy to pay $2 for something I could have bought for $1 if it means we remain the most powerful force.

[familyop]

At the end of the year, right?

[Jim W N]

Trade wars are stupid and useless. Everybody shooting themselves in the foot, thinking and/or trying to make it look like they’re shooting the other guy.

Trump’s a smart businessmen but a lot of smart businessmen do not necessarily understand economics.

[JoSixChip]

September 1st for the 15% and October 1st for the 30%.

[Poison Pill]

What happens to collected tariffs? General fund?

It's used for vote buying

[familyop]

Whoah! Thanks!

[poinq]

Trump should raise all tariffs on China goods to 100%. American companies can choose to do business in China or look to find production somewhere else, maybe here.

China is the worst place for production. They are terrible producers. They are extremely wasteful. They pollute more than anyone. Their workers rights, human rights, child labor laws are all horrible. And any profits they make goes to their Army or corrupt officials.

[Sam Gamgee]

The USA has the upper hand and is using it. I’m a free trader but what China had was a license to rape America economically.

[oincobx]

>>>Right, the COC is filled with open border traitors

Earlier in the week folks on this forum were criticizing the Business Roundtable for considering things beyond maximizing shareholder value. What better way to maximize shareholder value than to have more consumers and lower cost workers.

[JoSixChip]

smart businessmen do not necessarily understand economics

Alright genius, what do you recomend? Should we continue to ship hundreds of billions of dollars every year to China, not to mention all our manufacturing jobs? Perhaps you are saying we should stay with the bush/clinton/bush/obumber trade model.

[cowboyusa]

Now give a prime time address in early September, and explain why.

[ExpatCanuck]

POTUS is too afraid of price increase in the US for Chinese goods. He’s showing weakness.

POTUS is not weak or afraid. They will break before we do if you have to pay $5 for a toilet brush at Walmart instead of $2. And, for them that means a thousand jobs at a toilet brush factory and a thousand unhappy citizens.

[DIRTYSECRET]

A trade war is better than a real war. Cold war? I don’t think so. Chicoms want Greenland, Africa, Venezuela. We’re way ahead of them but basket cases like Maduro will turn to the siren call.

[Born to Conserve]

They import little of our goods, so their tariffs have little effect. We import HUGE amounts of their goods, so our tariffs have HUGE effect. Sucks to be you China.

[Zhang Fei]

[Trump’s a smart businessmen but a lot of smart businessmen do not necessarily understand economics.]

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I think he understands economics. He also understands geopolitics. China’s a blast from the past - it’s got the mentality of many of the Western powers prior to WWII - it wants to conquer the world. That mentality isn’t unique to the West - I’d say that the countries that don’t have that world-conquering mindset today exist only in the West. Except none of the non-Western countries has the military power to impose its will against Pax Americana. However, the day has come such that China is getting close to that point.

[Mr Ramsbotham]

Does China need Walmart more than Walmart needs China?

If it comes to that, cheap goods we're getting from China will probably come from other low-wage countries that don't mind dealing with us a bit more fairly.

[Sarah Barracuda]

About damn time a President try SOMETHING to stop this madness..unfortunately China is too powerful, its been going on for way too long, too many Presidents have allowed China to control the world and they do..make the products in America and we wouldnt have to rely on China but of course what do we hear “Oh it would cost more” Id pay extra to get something Product of USA than get something from China

[crusty old prospector]

Walmart and Dollar General hit the hardest.