Posted on 08/23/2019 3:00:51 PM PDT by 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.
(Excerpt) Read more at cnbc.com ...
Because trade with China has just been super great for us.
Fair trade or no trade, as far as I’m concerned. Chicoms can drop dead.
Forgot to add, I started to buy vitamins from Andrew Lessman.....made here in the USA. More expensive than the cheap no name brands at the store but also not filled with fillers and who knows what.
That may be how tariffs generally work, but under the Trump administration it looks like China is paying into the US Treasury. Here it is straight from OUR President. https://twitter.com/realdonaldtrump/status/1126815126584266753?s=21
This cannot be correct. China is paying. Here is evidence the US is receiving money from them. https://twitter.com/realdonaldtrump/status/1126815126584266753?s=21
It is how tariffs/duties have always worked (paid by the USA importer at the USA point of entry)...and still work today. Mr. Trump knows this otherwise he would not have delayed tariffs on Christmas related items until after they have arrived in the USA:
https://cargofromchina.com/landed-cost/
Then why would the US Treasury be getting paid billions from China, if it’s the importers (US companies) that are paying them?
And I’ll bet you stay at a Holiday Inn Express when you travel! ;)
(Very cute marketing ad!)
Top Ten Products Manufactured in China (2018 Data):
1) Personal Computers
The ease of accessing information is due to the near ubiquity of personal computing power in first world countries. China accounts for the vast majority of those personal computers (PC). In 2013, Chinese-based Lenovo surpassed Hewlett Packard in OC sales market share.
But in the fourth quarter of 2017, HP climbed back into top place. But overall, China exported the highest value of computer sales, at $142.2 billion, or 40.9 percent of all computer exports.
2) Mobile Phones
We’re all mobile now, but China is on another level because they’re actually making them. Since 2010, they’ve seen a 105 percent increase in phone service devices — which includes smartphones — according to analysis by WorldsTopExports.com.
They also concluded that the People’s Republic of China sold $219.4 billion worth of mobile phones in 2017, 9 percent higher than 2016.
While computer exports from China have taken a slight dip in the last five years, smartphones are up. Turning computing power into a more compact accessory pays serious dividends when you’re the cheapest, most efficient manufacturer.
3) Solar Cells
Going green isn’t just liberal boondoggle in the culture wars, it’s also big business. Energy equals output, after all.
According to industry data, China overtook Germany for the most solar capacity in 2015, and they’re the leading world market for both photovoltaics and solar thermal energy, after more than doubling their solar capacity in 2016. In 2017, China shipped $26.8 billion in solar powered diodes and semiconductors, up 0.6 percent from the previous year.
They’re the largest investors in solar energy, largely because they use so much of it, and their dominance manufacturing solar cells will only continue. From 2008 to 2013, their manufactured solar electric panel industry dropped world prices by 80 percent.
4) Air Conditioners
Stay frosty might be a military maxim, but in the literal sense it more aptly describes China’s HVAC manufacturing. By way of a sina.com report from 2015, China makes 109 billion air conditioners annually, which is around 80 percent of the world’s total.
In 2017, they exported $14.7 billion worth of air conditioners, 33.7 percent of all air conditioners exported that year according to WorldsTopExports.com.
5) Shoes
There’s a reason Nike, Adidas and other top sneaker companies open plants in China and perform the majority of their manufacturing there. They shipped $21.6 billion worth of rubber and plastic footwear in 2017, up 0.8 percent from the year before.
They even exported over $1 billion more (9.1 vs. 7.7) over second place Italy in leather shoes, a leader in the high-end bespoke market.
6) Cement
When you build, you need cement. Almost all construction depends on it, which is what makes China so integral for any sort of structural development.
For years they’ve been at the forefront of cement manufacturing. The vast majority is sold as Portland cement, which is used for concrete, mortar, grout and stucco — like amino acids are for the human body, Portland cement is to industrial expansion.
Regardless of how it’s delivered, China — $580 million in 2017, or 6.6 percent of the overall market –– continues to be the world leader in cement manufacturing. But the gap between no. 2 Thailand — $530 million — isn’t as wide as some other manufactured products on this list, and global cement shipments are way down from the $13 billion high in 2013 to $8.8 billion in 2017.
7) Energy-Saving Lamps
Similar to cement, and China’s drive towards renewable energy with solar cells, energy-efficient light is close to a primordial necessity in the modern world.
From 2010-2017, lamps, lighting and illuminated signs delivered the highest surplus growth for China, up 218.9 percent according to analysis by WorldsTopExports.com. That helps explain why in 2014, China accounted for over 80 percent of the energy-saving lamp market.
8) Ships
During the global financial crisis that started in 2008, China overtook South Korea in total tonnage of manufactured ships despite the fact South Korea’s big 3 builders — Hyundai Heavy, Samsung Heavy and Daewoo Shipbuilding — own a firm grasp on large-container exports.
Rather than fight that losing battle, China swooped in to dominate by manufacturing small- and medium-sized ships. It’s led them to snatch over 34 percent of the market share (versus 22 percent for South Korea) in the first half of 2017.
Similar to a pair of your favorite kicks, if you see a small container ship, it’s more than likely made in China.
9) Clothing
The cost of production is rising in China, but they’re still a near monolith in clothing manufacturing. They rank No. 1 by a landslide in global textile exports, accounting for nearly 30 percent of the market, by way of Textile Infomedia.
They export $161 billion worth of clothing a year, according to the World Trade Organization (WTO), but their firm grasp on the marketplace has loosened in recent years with fewer skilled laborers and the shift to higher-end products that require updated technology to produce.
Still, no one matches China’s infrastructure, so few countries have been able to take advantage of China’s slight slip.
It was way back in 2011, but the comments Miuccia Prada — the co-CEO of the eponymous, Milan-based fashion behemoth, Prada — said of Chinese manufacturing to the Wall Street Journal still hold true:
“Sooner or later, it will happen to everyone.”
10) Coal
As has been the case for a lot of the products on this list, China has been the world’s top producer of coal for the last three decades.
According to a statistical review of world energy performed by British Petroleum (BP), while China’s coal exports have dwindled in recent years along with the overall market (from nearly 8.1 billion tonnes in 2014 to 7.4 in 2016), they’re still more than double the nearest competitor — India, who has actually been increasing exports as the marketplace has fallen.
But it’s still a stark difference, highlighting China’s preeminence in manufacturing: 3.4 billion tons for China vs. 694 million for India.
https://www.sourcify.com/the-top-10-products-manufactured-in-china-in-2018/
PING to Post #128.
Might I just add here:
Tariffs were the main source of all Federal revenue from 1790 to 1914.
Ah, the 1910’s — that period when progressive sunk their claws into America — John Dewey, the Fed, Woodrow Wilson, income tax, 19A...the hardcore beginning of the end.
Imagine if, instead, we had followed the U. S. Constitution to its logical extremes...
F Confucian organized piracy ... “steal what you can and never give back the rest” ... thieves bred to the bone from birth ... a failed nation that has a lurid history of making a bed after rolling in its own shit and then trying to make their populace eat the results.
If I were Trump I would validate HK rebels if I knew they were sufficiently armed. Eleven would fall quickly if he tried to Tianemen HK ... Ceaușescu had it easy ...
In a war, you need weapons fitted to the conflict. Tariffs will serve in that capacity.
Once again, U.S. citizens are paying the $50 billion in tariffs to the treasury...not China. President Trump knows this all too well...that is why he delayed the additional tariffs on some Christmas related goods until after they arrive in December. Let’s just say his “Tweets” on the subject are “Artistic License” and leave it at that.
“They” have pretty damn short memories, because I remember, and it wasn’t all THAT long ago, that we didn’t trade with China, and it wasn’t until Clinton that we gave China “most favored trade nation” status..... and “they” think we can’t survive without all that junk from China?/ pffft.
China is pushing for a recession to get rid of Trump.
He should call their bluff and halt all imports from China. They will sink first.
The reasons they are sh*tholes is because of their economies and their government corruption. The problem in our inner cities is a microcosm of the problems in these countries. This approach would change that dynamic dramatically. Most people just want to raise their families and have a decent life no matter where they live.
HF quality, and prices, have been increasing over the years.
I wouldn't count them out quite yet. There are lots of countries in Asia who would love to take the place of China in our supply chain. The can probably get better quality at not much more cost from India, where a lot of people speak English.
HF quality, and prices, have been increasing over the years.
I wouldn't count them out quite yet. There are lots of countries in Asia who would love to take the place of China in our supply chain. The can probably get better quality at not much more cost from India, where a lot of people speak English.
Samsung tv’s are made in Korea, but that’s okay...we are great trade “buds” with them..../s
Trump’s a smart businessmen but a lot of smart businessmen do not necessarily understand economics.
What's more damning, perhaps, is economists who don't understand business, or the real world...yet are regarded as authoritative. Then there are those who mindlessly parrot the economic 'scriptures.'. Yet they too do not understand the real world, or the principles involved.
They would know, for example, the difference between tariffs as a permanent policy, versus a temporary tactic. They would understand the difference between what they perceive as a 'trade war' and a trade beating. They might also understand that consumers don't necessarily pay for tariffs.
They don't understand that in the real world, physical relationships are simple; people relationships are complex. Cause and effect is not straightforward.
They don't understand that knowing the answers is relatively simple. What's much tougher is understanding the questions.
They would know that in theory, there's no difference between theory and practice...but in practice, there is. That's why planned economies don't work.
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