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Americans, not Chinese, pay Trump tariffs: NY Fed study
reuters.com ^ | NOVEMBER 25, 2019 | Howard Schneider

Posted on 11/25/2019 10:52:02 PM PST by Berlin_Freeper

When the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost - implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25% when the goods hit U.S. shores.

Instead, the prices Chinese firms charge have barely budged, meaning U.S. companies and consumers are paying the tariff costs, estimated at around $40 billion annually, New York Fed Reserve Bank researchers found in a study released on Monday.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Editorial; Foreign Affairs
KEYWORDS: auditthefed; china; dnctalkingpoint; dnctalkingpoints; eussrtroll; fakenews; federalreserve; nevertrump; nevertrumper; nevertrumpers; redchina; socialism; tariffs; tds
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To: Berlin_Freeper

The author of the Reuters article wrote several other articles with bias against Trump.

October 2019

Watch Fox News? You likely think the U.S. economy is great. MSNBC viewers not so much


21 posted on 11/26/2019 3:24:26 AM PST by tired&retired (Blessings)
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To: exDemMom

“Now to get hubby to install it.”

I hear a mantra.......


22 posted on 11/26/2019 3:25:55 AM PST by tired&retired (Blessings)
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To: Berlin_Freeper
Americans, not Chinese, pay Trump tariffs: NY Fed study

Thank you, Captain Obvious. And no doubt somewhere in the People's Bank of China there is an economist who wrote a report about how the Chinese consumers, not the U.S., pay the tariffs that Beijing imposes.

23 posted on 11/26/2019 3:37:20 AM PST by DoodleDawg
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To: Berlin_Freeper
Buy American, AMEN to that.

If you cannot find it on the shelves try looking for someone in your area to build it. Lots of good handy men out there that can build useful items for around the house.

24 posted on 11/26/2019 4:04:51 AM PST by eartick (Stupidity is expecting the government that broke itself to go out and fix itself. Texan for TEXIT!)
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To: DannyTN
Keep raising the tariffs until the jobs and industries come back to America and the trade deficit balances.

LOL! And when unicorns come off the endangered species list and Congress works together to solve problems, too.

25 posted on 11/26/2019 4:17:05 AM PST by DoodleDawg
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To: garandgal
So this (at least in my industry) is complete B.S.

If you can do so without revealing more personal information than you want to, please identfy your industry.

26 posted on 11/26/2019 4:23:30 AM PST by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: JayGalt

Not even clicking on the Reuters story, before I saw your post...the media lie.


27 posted on 11/26/2019 4:52:08 AM PST by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
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To: Berlin_Freeper

Americans pay corporate taxes too by way of higher prices.


28 posted on 11/26/2019 4:54:32 AM PST by rfreedom4u (The root word of vigilante is vigilant!)
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To: DoodleDawg
LOL! And when unicorns come off the endangered species list and Congress works together to solve problems, too.

Well, there's no point in doing anything, is there?

29 posted on 11/26/2019 4:57:02 AM PST by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
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To: Berlin_Freeper

Yep and instead of getting a few good cheaper we have more jobs then unemployed currently. Paying a bit more so our people have good jobs with benefits is worth it in my book.


30 posted on 11/26/2019 5:05:55 AM PST by MNJohnnie (They would have to abandon leftism to achieve sanity. Freeper Olog-hai)
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To: DoodleDawg
So when does Unicorn Hunting Season open in your state? Got to keep that pesky population under control now that they are common as weeds.

The U.S. has 1 million more job openings than unemployed workers. U.S. employers posted nearly 7.6 million open jobs in January, near a record high set in November, a sign that businesses are still hungry for workers despite evidence the economy has slowed.Mar 15, 2019

31 posted on 11/26/2019 5:09:58 AM PST by MNJohnnie (They would have to abandon leftism to achieve sanity. Freeper Olog-hai)
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To: gogeo
Well, there's no point in doing anything, is there?

Not if your definition of success is all the jobs and industries coming back to the U.S. and trade is balanced. That isn't going to happen unless you jack up your tariffs to astronomical levels. Then all your domestic goods cost many times more than the imports, people can't afford to buy them, and your manufacturing fails.

And at that point your trade would be close to zero so you sort of balance it as well.

32 posted on 11/26/2019 5:38:22 AM PST by DoodleDawg
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To: MNJohnnie
The U.S. has 1 million more job openings than unemployed workers. U.S. employers posted nearly 7.6 million open jobs in January, near a record high set in November, a sign that businesses are still hungry for workers despite evidence the economy has slowed.Mar 15, 2019

So where are all the workers for your manufacturing plants going to come from?

33 posted on 11/26/2019 5:39:43 AM PST by DoodleDawg
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To: Berlin_Freeper

That’s how tariffs work, you blithering imbeciles.

Geez. The MSM is made up mostly of the lowest IQ types wholly ignorant of history and economics.

They actually think this is news.


34 posted on 11/26/2019 5:43:52 AM PST by Skooz (Gabba Gabba we accept you we accept you one of us Gabba Gabba we accept you we accept you one of us)
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To: Berlin_Freeper

I needed a new roof for my garage. As art of this, I had to buy a pneumatic nailer. I went to Harbor Freight intending to buy a cheap use for one job nailer. The price was higher that the 6 month old catalog I had said it would be. I left Harbor Freight and bought an American made nailer for $1 more than the cheap Chinese made one. The tariff works. I bought American instead of Chinese. Yes, it cost me $50 more than I thought it would, but I now own a well made rugged American tool.


35 posted on 11/26/2019 5:47:46 AM PST by BuffaloJack ("Security does not exist in nature. Everything has risk." Henry Savage)
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To: BuffaloJack

I needed a new roof for my garage. As part of this, I had to buy a pneumatic nailer. I went to Harbor Freight intending to buy a cheap use for one job nailer. The price was higher that the 6 month old catalog I had said it would be. I left Harbor Freight and bought an American made nailer for $1 more than the cheap Chinese made one. The tariff works. I bought American instead of Chinese. Yes, it cost me $50 more than I thought it would, but I now own a well made rugged American tool.


36 posted on 11/26/2019 5:48:15 AM PST by BuffaloJack ("Security does not exist in nature. Everything has risk." Henry Savage)
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To: Berlin_Freeper

All of these same groups and people also claim that Americans Pay the cost when China raises Tariffs. You Can’t have it both ways unless you are a morally bankrupt, ethically corrupt, quisling with a partisan agenda.


37 posted on 11/26/2019 6:11:12 AM PST by eyeamok
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To: Berlin_Freeper

The conclusions of the stupid Federal Reserve analysts are all wrong.

Tariffs are now imposed, and Chinese firms assessed those tariffs and they, the Chinese firms pay them.

So what is the meaning of the fact that the Chinese firms are not raising their prices much?

It is the opposite of what the Federal Reserve analysts say it is.

Since the Chinese firms are not raising their prices much, they ARE absorbing the extra costs they have from the tariffs. American consumers are NOT paying higher prices from the Chinese imports so they ARE NOT paying extra for the tariffs.

What’s really happening is profits on the Chinese imports are down.

How can the Fed hire such idiots.


38 posted on 11/26/2019 6:27:55 AM PST by Wuli
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To: Berlin_Freeper

Even if true, in the long-term Americans benefit.


39 posted on 11/26/2019 6:31:04 AM PST by dfwgator (Endut! Hoch Hech!)
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To: Berlin_Freeper
It may shocked some of you but all of our founding fathers were pro tariff and extreme protectionists. And thank God for that. What makes that really impressive is that guys like Washington were agrarians and were people hurt by tariffs ( at first ).
40 posted on 11/26/2019 6:35:24 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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