Posted on 06/19/2022 8:34:58 AM PDT by ChicagoConservative27
Treasury Secretary Janet Yellen said Sunday on ABC’s “This Week” that tariffs the Trump administration imposed on China “serves no strategic purpose and raise costs to consumers.”
Anchor George Stephanopoulos said, “Several in Congress are calling for gas tax holidays. Is that on the table?”
(Excerpt) Read more at breitbart.com ...
Well, Trump always mispoke the truth of the matter. He repeatedly told us that China payed the tariffs.
Tariffs are collected from importers by US Customs. The amunt of the tariff is included in varius costs of sale and thus paid by the ultimate retail purchasers.
China did not actually pay the tariffs but rather lowered prices in various ways such that prices in America did not rise substantially.
More smellin’ from Yellen.
So now we can go back to cheep China imports. Problem is no one will have a job or money to buy them. The great sellout is back in motion.
Well, she’s sort of, correct. There has to be an economy and industry that you’re protecting with tariffs, and we don’t have that, thanks to Biden.
“Well, Trump always mispoke the truth of the matter. He repeatedly told us that China payed the tariffs.”
If the prices for the items didn’t go up, but our government collected higher import duties...well, that money to our government likely did come from somewhere, as in China.
By the way, do you still believe that Trump colluded with Russia?
Lol.
Yellen is an idiot. The Tariffs were the only way to protect American manufacturing. That protection results in: stronger supply chain, safer national
Security, more rebuts economy, the possibility of using supply side economics, and downstream economy.
Or……..you can continue to print money and throw it out there until everything collapses…….
If they could simply "Raise Costs to Consumers" why didn't they do it to increase profits before the Tariffs?
In the short term, this may have been true, but in the long run new import outlets in south American, North Vietnam, India and other third world countries.
This lady, along with the other cabinet members is so far out of it, that you can’t describe it.
I don’t know about you but I can’t wait for all those huge price reductions when the Tariffs are lifted.< /sarcasm >< /idiocy >< /lunacy >
Yellen is the same old fool who assured us that inflation was “transitory” unless she thought the word meant “rampant and long-term”.
Janet Yellen said Sunday on ABC’s “This Week” that tariffs the Trump administration imposed on China “serves no strategic purpose and raise costs to consumers.”You mean like interest rates Janet?
The holier than thou hypocrisy is thick with these low-lifes.
Econ 101 has worked so well for us... until it failed. Just In Time saved us all money until the lockdowns cratered supply lines. The race to the bottom for the cheapest supplier worked so well until we found metamine in our dog food. Free trade worked so well until we found out China's military equipment looks a lot like ours.
We have the geography and demography to be a successful mercantilist nation. Higher prices yes, but also higher wages and no money going to the imprisoners of the Uighurs, Falun Gong, etc.
When Adam Smith wrote that countries should focus on producing those things that they were best at, I don't think he was envisioning countries being "best at" producing things by merely being cheapest via slave labor and ecological devastation.
With the invention of AC and central heating it is now possible to manufacture any good and supply many services from anywhere on Earth. The only differentiators are lower labor costs and fewer regulations to protect the workers and environment. The only things that differentiates one country from another are natural resources and crop lands. But we are told by the Econ 101 crowd that those nations whose economies depend on natural resources are at the bottom of the totem pole.
When all of the manufacturing, finance, and service economy works its way to Nigeria and America is only left with coal, oil, minerals, and produce it will be Americans living in mud huts and scrounging in trash heaps.
The problems in this country are due to idiots like you. The tariffs are not about the cost to the consumer, they are all about bringing manufacturing back to America. If you just want cheap china shit, go to harbor freight.
Janet Yellen says she doesn’t understand tariffs 🤪
Well, you have a problem. Your premise in invalid. The jobs you think will return, won’t.
Presently, iternationalcompanies including major American companies are leaving China. Some of the jobs are not coming to America because in China they are being ended. The jobs in America will be making new products.
However, most of the jobs fleeing China, be they American companies, Japanese, Korean or Taiwanese, are moving location. Once again, they will be making a newer versions of the old product.
I’m not sure what new location is receiving the jobs and opening new or larger manufacturing capability. For sure, Vietnam and Mexico are two. I think Indonesia is looking for them as well. For the record, the population of the Indonesian island of Java is greater than that of Russia so there is great potential there.
I think that Trump led the change, but the Chinese communist party under President Xi is the major reason. The CCP is on a serious anti corporate binge and is destroying privately held corporations. That is, the profitability there was once in China is being purposely wiped out t o promote what Xi calls China Socialism. The capitalism extent is being trashed. That process has been seriously interrupted by Covid. Several major cities with populations of 20 million or more are locked down.
I make observations and present a finding
This is just a trial balloon for the Administration, to check and see if the coast is clear to lift those tariffs.
They have already been relaxing sanctions against Venezuela and Cuba, and preparing to do it against Iran - all members of the Russia/China Axis.
I really despise this Yenta, her position is supposed to be neutral, but she is very political. What’s with all these leftists’ geriatrics in the highest levels of Government burning down this country? She went off on gas prices today, green, green, we must go green!!! Totally carrying Diaper dumper Bidens and the lefts agenda. Herself, Schiff, Schumer, Nadler, Coen. Why are the most loathsome, treacherous, lying leftist seemingly Jewish? Dennis Prager has talked to this; I just don’t recall his theory. Catholics have their share as well. I suppose because they are religious in name only?
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