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 ...
There are important differences between business and economics especailly macroeconomics.
Many, I would say most, successful businessmen for instance don’t seem to grasp that our $4 trillion mostly unconstitutional government is a HUGE (YUGE) drain on our economy. I would also say that as long as they get their share of the bribe (”subsidies”) screw everybody else. They don’t seem to grasp that in the long haul they and everyone else losses when government interferes with the free market.
There’s a difference between understanding the bottom line and understanding the “invisible hand” of the free market economy, as well as disruption it can cause from time to time which in a free market are growing pains in preparation for economic growth to the next higher level of wealth creation.
This is not accurate, and you should not explain it this way. Under this example, China would be paying, but only through a loss in profits. No money would be paid to the US in that example. The US Treasury, however, is ACTUALLY receiving money from China for the sale of each item that has a tariff. I’m not sure how it occurs, but China must be making a payment to the US treasury when it exports the item because the US Treasury is receiving BILLIONS of dollars from them.
Most companies won’t move to the US, especially those making products that require a lot of manual labor. Those companies will move to countries elsewhere on the Pacific Rim and India. Some highly automated assembly lines that assemble electronics might move to the US.
Again, I’m not sure this is accurate, as the US Treasury is actually receiving billions of dollars from China due to the tariffs. They are actually paying us!
The Chamber of Commerce, the stock market investors, the TV stations and media, CNBC, FBN, CNN, MSNBC, ABC, CBS, NPR, The New York Times, the Washington Post, etc. are all traitors to the USA. Not one ounce of loyalty to their country or its continuing successful future...just greed and envy.
Can you folks ever imagine how great and powerful we, as a one united nation would stand 100% with our POTUS, Trump...who by the way, is right on the money, when it comes to dealing with the PRC (China)...period. The “Profiles In Courage” as evidenced by Washington, Lincoln, FDR (WWII), Reagan, Trump, etc., are nowhere to be found in the greed and self purpose of the American financial community!!! Sickening.....they will pay a steep price for their greed, down the road....when the Chinese devour them...while the PRC laughs all the way to the national banks of China!!! Idiots.....shame on FBN!!!
I love how the news projects that Chinese tariffs will cost consumers x amount more...as if consumers will continue to pay higher costs. Consumers quickly see that things increase in price and adjust buying habits accordingly.
This is silly talk.
President Trump is NOT weak.
If he was, he easily could have just kept doing what all previous—and WEAK—American Presidents have done.
Nothing.
Rather, we finally got a warrior.
And this fight is just begun.
Ok. So when China wants to sell some lead-based crap in the US, then when they export it they also write a check (so to speak) to the treasury for 10% (or whatever the tariff is). Hence they pay for it!
Yeah. I’m not an economist, but I follow what this administration is doing and fully support it, and that must be how it works.
The real question is how long of a wall they can now afford due to the tariffs! Exciting stuff.
What gets me is the democrats and the media, because of politics, MUST oppose it, and in doing so, are cheerleading for China over their own country, and are hostile to American workers, with an election in a year where those very same workers get to vote.
Of course the dems and media will try to hide it, but we’ve got to get the word out.
Letters to editors, calls to radio shows and tv all should start with the question:
Why are democrats siding with China over the USA? It’s just because of Trump, isn’t it?
Thank you, Mr. Pres. Keep ratcheting it up. I’d prefer we didn’t import as much as a thimble from these commie thieves.
U.S. importers are paying the duties/tariffs to the U.S. government (eventually passed on the the end customer).
https://www.investopedia.com/terms/i/import-duty.asp
https://www.cbp.gov/trade/programs-administration/entry-summary
Because, perhaps, people didn't feel as threatened by a supposedly liberalized China, not thinking that politically they're just as bad, if not worse, than Russia.
“What is “COC”?”
The Chamber of Corruption.
Oct.1 is the dark day mainline China went Red.
To the contrary, Trump understands economics quite well. It is the economist, so-called, who don't understand economics. If they did, they would be the ones bragging about being billionaires.
This cannot be true. China is paying the tariffs, not US consumers.
“President Trump is NOT weak.”
I agree.
But he is projecting weakness, for whatever reason.
When he said he was postponing tariffs on a large basket of goods because he didn’t want to hurt the American consumer, he projected weakness.
He should have been talking up a 50-100% tariff instead. Or even embargo. Letting the Chinese know he would exercise all National power at his disposal to win.
From their point of view, OF COURSE they believe they’ve already won.
Maybe Xi miscalculated. Maybe he didn’t. But he doesn’t have to stand for reelection next year so he’s raising the stakes.
That’s the reality, whether it hurts your sentiments or not.
Just point at inflation. Simply there is none meaning we are not paying more for stuff. Then point at China devaluing their currency. Before it took 90 of their cents to buy something in the world. Today the same thing costs them a dollar of their currency. Who is paying the tariff? They are eating it by making their stuff worth less and we are not paying for it... That simple.
The other way to explain it is this. They sold us a cup for a dollar before the tariffs. They now sell us that same cup for 90 cents and there is a 10 cent tariff. Same cup costs us the same dollar. US government gets 10 cents. Chinese now only got 90 cents. Who paid for the 10 cents. Remember we always paid a dollar. China paid the US government 10 cents. We know they are selling it at 90 cents because there is no inflation (we aren’t paying more) and our companies are not taking a loss, in fact retail is doing GREEEEAT as Tony the Tiger would say. Record profits for Walmart which is Chinas sales floor here in the US.
If that doesn’t get through write the cousin off but do send a “breathe in, breathe out, repeat” sign. To steal a line: If that doesn’t get through, your cousin “is the reason there are directions on shampoo bottles.”
I have everything I need.
...and food?
We have farmer markets every mile or so with fresh everything.
The cider mills will be spinning up soon. Mmm mmm mmm.
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