Tariff Man is back, and American consumers will pay for it

[dukkha]

Sorry, I support America, not the poser in the wht house that sold himself as a deal maker that can only make threats.....

Perhaps in his life forcing himself on others payed off, it aint paying off so well on china & those farmers..

If you support America you really should support Trump's efforts here.
Chinese malign behavior in trade, espionage.and so called Cofuscian studies are hurting this country
Trade talks are being slow walked -not stopped. Re-elect Trump and the deal gets done.
Its really that simple even if the talks are complex

 

[dukkha]

On principle, I have zero problem with tarriffs being used to protect American economic interests, when used judiciously, as a last resort, and after careful deliberation.

My problem is that I have no confidence that a dim-witted game show host actually knows what he is doing, that he bothers to do any homework, educate himself, or practice careful deliberation and introspection. So, if I had my preferences, I would not put the mediocre game-show host Donald Trump in charge of trade policy and tarriff policy.

yada yada yada Lighthizer is in charge of the talks -the same guy who pulled off NAFTA 2 ( US Trade rep)
I you want to bitch, complain to Pelosi about not getting a floor vote -China is looking to see if we are capable of ratification,and a NAFTA 2 vote would go a long way to getting them moving

 

[dukkha]

Trump is as fickle as a fart in a wind storm. He lies, he makes promises he can’t keep, it’s why his own lawyers traveled in twos to do business with him. He could not be trusted.

Lightgizer is running the show.
Trump's tariffs worked on Mexico -they will work on China, the only question is "how long"

 

[Bill]

TBH, I just don't know that much about farming so I can't really speak to their industry and the ins and outs.

I'm a free trader. I know with free trade and globalization there are folks who get hurt. On the whole we as Americans benefit from it but it's not without downsides.

I'm sure folks who support going after China like we are would say something similar.

Ever thought why they always say "as a whole"...??

Well we anit a whole, that is simply BS.......... The benefits-90% go to 1%... The 90% take the job losses etc etc etc...... The 1% reap the bennies...

While you may not be a fan of Bernie or Warren they often talk about this, IT AINT A LIE....

I would be shocked if you weren't aware of this...........

 

[Superfreak]

New York (CNN Business)The Tariff Man is back. President Donald Trump's newly proposed tariffs on China would be particularly bad news for US consumers.
Investors sold off well-known retail and tech stocks in response, because they would get hit hardest by the additional tariffs.

"Tariffs are taxes on American consumers," said Rick Helfenbein, president and CEO of the American Apparel & Footwear Association. "The president's decision to proceed with adding these additional costs for hard-working American families is truly shocking."

Trump tweeted Thursday that he's proposing an additional 10% tariff on $300 billion's worth of Chinese-made products entering the United States. That includes things like smartphones, toys, footwear and many other consumer goods. ​

"American families shouldn't be a pawn in this trade war," said Hun Quach, vice president of international trade for the Retail Industry Leaders Association. "Today's announcement only moves us closer to consumers bearing the brunt of the pain."​

​

The National Retail Federation said it is disappointed the administration is doubling down on tarrifs.
"These additional tariffs will only threaten US jobs and raise costs for American families on everyday goods," said David French, senior vice president for government relations at the NRF. "The tariffs imposed over the past year haven't worked, and there's no evidence another tax increase on American businesses and consumers will yield new results."​

Investors weren't happy either. Shares of Best Buy (BBY) plunged more than 10%. Nike (NKE) was down 3%. Hasbro (HAS) fell 5% while rival toymaker Mattel (MAT) was down 7%. Apple (AAPL) fell about 2.5% while Chinese e-commerce giant Alibaba (BABA) was down more than 4%.
And the SPDR S&P Retail ETF (XRT), which counts Dillard's (DDS), Abercrombie & Fitch (ANF), Guess? (GES), L Brands (LB) and Kohl's (KSS) among its top 10 holdings, lost about 3%. Target (TGT) was down nearly 5%.​

"Uncertainty will dampen business investment and trade flows," said Elena Duggar, Moody's associate managing director.
She said American consumers will pay higher prices for everyday items, such as electronics, clothing, footware and toys, because of the tariffs.
Semiconductor stocks, which have a big presence in China, also plunged due to worries that China could retaliate with further tariffs against the US tech industry.

The Philadelphia Semiconductor Index (SOX) fell 2%, led by drops in Intel (INTC), AMD (AMD), Nvidia (NVDA), Qualcomm (QCOM) and Broadcom (AVGO).
That led to a dramatic turnaround on Wall Street Thursday, with the Dow swinging from a 300-point gain earlier in the day to a more than 250-point loss.

https://www.cnn.com/2019/08/01/inve...:+rss/cnn_topstories+(RSS:+CNN+-+Top+Stories)

So what should be done about the tariffs that China, the EU and other nations put on US goods? That also hurts the American consumers. Yes, tariffs are bad for consumers all the way around. They are also bad for the global economy as a whole. That said, for too long the US has let other countries abuse us, especially China. We need all tariffs eliminated. But China and the EU won't do that unless they realize we are serious about retaliation. Retaliation isn't a great strategy by any means, but sometimes it is necessary. Sometimes we have to take the short term pain to get the long term benefit. Otherwise we simply would keep getting screwed by China and others.

 

[Superfreak]

Last I saw was each household was paying an additional 800+ in taxes per year as a result......... This will be on top of that..........

Everyone is suffering but his business & friends......... They got 90billion in tax breaks & we paid 87billion more in taxes, all works out, all good.

Please link up to where you got that data.

 

[Superfreak]

You have just described everyone who wants cheap stuff in this country. They do not think they should pay what it truly costs. Such as fresh produce. You are also describing a great deal of people who think that slave labor, low wages and non existent labor laws are just fine in other countries as long as they do not have to pay more here. I will leave whose those people are up to you.

Obviously 'slave labor' in the literal sense is not acceptable. But too often people look at what people earn in other countries and forget to look at purchasing power and cost of living in those countries.

People do the same domestically. Cost of living has to be factored in. It costs a lot more to live in Manhattan, San Fran etc... than it does to live in Mobile or Nashville.

 

[Bill]

On principle, I have zero problem with tarriffs being used to protect American economic interests, when used judiciously, as a last resort, and after careful deliberation.

My problem is that I have no confidence that a dim-witted game show host actually knows what he is doing, that he bothers to do any homework, educate himself, or practice careful deliberation and introspection. So, if I had my preferences, I would not put the mediocre game-show host Donald Trump in charge of trade policy and tarriff policy.

Totally agree

 

[Bill]

If you support America you really should support Trump's efforts here.
Chinese malign behavior in trade, espionage.and so called Cofuscian studies are hurting this country
Trade talks are being slow walked -not stopped. Re-elect Trump and the deal gets done.
Its really that simple even if the talks are complex

SOrry my friend, I agree they are cheating, I also disagree that trump is offering solutions, he is simply making threats like he does to the women he has affairs w/, like he does to anyone who opposes him, is thinking of testifying against him etc etc etc...

I WAS IN SALES FOR TEN LONG YEARS & I can assure you making threats is not making deals.........

They are hurting this country, & SO IS HE!!!!

Sadly no matter how bad this turns out for the USA, he, even more sadly you & others will try to sell it as a win for him & secondly us..

If he can tell you Mexico is going to pay for the wall & then tell you they are doing so while taking the money out of the American treasure THERE IS NOTHING YOU WONT BELIEVE..

 

[Bill]

Lightgizer is running the show.
Trump's tariffs worked on Mexico -they will work on China, the only question is "how long"

But what you are really saying is his threats to Mexico worked.......

THere will come a time when that won't work, & the way things are going it might not be as long as we may think....

If he gets another term Pax Americana is likely dead & will never be able to recover.......

 

[Phantasmal]

But what you are really saying is his threats to Mexico worked.......

THere will come a time when that won't work, & the way things are going it might not be as long as we may think....

If he gets another term Pax Americana is likely dead & will never be able to recover.......

They didn’t work on Mexico, lol, his new deal is just NAFTA 2.0

 

[Bill]

Please link up to where you got that data.

Took less than a second: Market watch-not cnn or fake news.......
Rising tariffs on $200 billion in Chinese imports will translate to an extra $831 in annual costs for the typical American household, according to new projections from Federal Reserve Bank of New York researchers.

Thursday’s projections on the impact of the newly-implemented 25% tariffs are about double the earlier estimates of $419 per household, the Fed said. The latest round of tariff hikes, in addition to those introduced last year, could cost over $106 billion for American households, the researchers said.

 

[dukkha]

Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial Distrist..

it's not a "federal reserve bank" thing

 

[dukkha]

But what you are really saying is his threats to Mexico worked.......

THere will come a time when that won't work, & the way things are going it might not be as long as we may think....

If he gets another term Pax Americana is likely dead & will never be able to recover.......

doom and gloom. "It will never work, well it worked but it won't again, and it threatens the peace." yada yada

Give me a freaking break.
Trump jawboned Mexican troops to the border to help stop the migrants and Trump negotiated NAFTA 2
No reason he won't pull off the China deal - but their slowdown negotiations will take a 2nd term.. MAGA

 

[dukkha]

They didn’t work on Mexico, lol, his new deal is just NAFTA 2.0

clueless

 

[dukkha]

SOrry my friend, I agree they are cheating, I also disagree that trump is offering solutions, he is simply making threats like he does to the women he has affairs w/, like he does to anyone who opposes him, is thinking of testifying against him etc etc etc...

I WAS IN SALES FOR TEN LONG YEARS & I can assure you making threats is not making deals.........

They are hurting this country, & SO IS HE!!!!

Sadly no matter how bad this turns out for the USA, he, even more sadly you & others will try to sell it as a win for him & secondly us..

If he can tell you Mexico is going to pay for the wall & then tell you they are doing so while taking the money out of the American treasure THERE IS NOTHING YOU WONT BELIEVE..

the worse that happens is the status quo.
I love you guys - sit around and criticize Trump for his style, never give him credit, and bitch about inanities.

Trumps de-regulations ( more then even the tax cuts) primed the pump for this booming economy.

Then he takes on THE MOST DIFFICULT TASK OF ALL - passed down thru various POTUS like North Korea and China trade.

NK is not firing ICBMS. they aren't denuking,but Trump clearly got threat reductions from Kim.

China will come thru when they HAVE TO come thru -keep up the pressures until they do.

Hilary would not have touched any of these problems, we'd be debating PC standards instead if she had won

 

[Superfreak]

Took less than a second: Market watch-not cnn or fake news.......
Rising tariffs on $200 billion in Chinese imports will translate to an extra $831 in annual costs for the typical American household, according to new projections from Federal Reserve Bank of New York researchers.

Thursday’s projections on the impact of the newly-implemented 25% tariffs are about double the earlier estimates of $419 per household, the Fed said. The latest round of tariff hikes, in addition to those introduced last year, could cost over $106 billion for American households, the researchers said.

After backtracking to the actual study, their numbers are a stretch and are assuming worst case scenarios that aren't really that plausible when all put together.

Don't get me wrong, tariffs hurt consumers to be sure, but their numbers are likely too high.

 

[cawacko]

Ever thought why they always say "as a whole"...??

Well we anit a whole, that is simply BS.......... The benefits-90% go to 1%... The 90% take the job losses etc etc etc...... The 1% reap the bennies...

While you may not be a fan of Bernie or Warren they often talk about this, IT AINT A LIE....

I would be shocked if you weren't aware of this...........

All of us as consumers benefit from free trade as we gain access to better and lower priced goods. Free trade increases growth, innovation, efficiencies etc. Certain industries may get hurt but that happens in capitalism. Technological advancement hurts certain industries. We can't stop progress in the name of trying to protect every job today.

This is where I'm finding things confusing. On one hand free trade is bad because it (supposedly) hurts workers (hence the unions being fans of tariffs to protect their industries even though it has negative repercussions across the entire economy) yet tariffs are now bad because it increases the cost of goods.

It's like folks want the cheap goods but don't want the free trade that is the cause of them.

 

[Bill]

doom and gloom. "It will never work, well it worked but it won't again, and it threatens the peace." yada yada

Give me a freaking break.
Trump jawboned Mexican troops to the border to help stop the migrants and Trump negotiated NAFTA 2
No reason he won't pull off the China deal - but their slowdown negotiations will take a 2nd term.. MAGA

No breaks today.....

Yea, except China aint Mexico is it.... Small detail but an important one.......

He only has one card-tariffs=tax on Americans.

He played it, didn't work, he played it again, didn't work, so he plays it again & expects a different result??

 

[Bill]

After backtracking to the actual study, their numbers are a stretch and are assuming worst case scenarios that aren't really that plausible when all put together.

Don't get me wrong, tariffs hurt consumers to be sure, but their numbers are likely too high.

it isn't an exact science but we certainly agree this does hurt American consumers, which is my point..

IMHO had trump not gone this alone, pushed away our allies instead of having them join us, the outcomes would be much better........

While I wish for our country to succeeded in the claims we/the world have against China, I do not see trump's current course of tariffs ever accomplishing that, & I hope I am wrong.....