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Old 08-19-2019, 03:34 PM
 
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Import Certificates:

I'm among the proponents of the improved trade policy described within Wikipedia's “Import Certificates” article. The unilateral proposal would significantly reduce, (if not entirely eliminate) USA's annual trade deficits of goods and would be of net benefit to our economy.

Annual trade deficits indicate our nation has purchased more products than we have produced. Trade deficits are particularly detrimental to their nation's numbers of jobs and amounts of payrolls.

All of the proposal's direct net costs are passed on to USA purchasers of imported goods and any such costs due to markets' behaviors serve as price subsidies for USA's exported goods.

The policy is not a net source of government tax revenue, and other than determining the values of cargo passing through USA's borders, the policy grants no policy discretion to the federal government. Valuation is determined as within the USA expressed in U.S. Dollars.

Refer to: https://en.wikipedia.org/wiki/Import_certificates
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Old 08-19-2019, 06:26 PM
 
3,591 posts, read 2,207,082 times
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Quote:
Originally Posted by Supposn View Post
Import Certificates:

I'm among the proponents of the improved trade policy described within Wikipedia's “Import Certificates” article. The unilateral proposal would significantly reduce, (if not entirely eliminate) USA's annual trade deficits of goods and would be of net benefit to our economy.

Annual trade deficits indicate our nation has purchased more products than we have produced. Trade deficits are particularly detrimental to their nation's numbers of jobs and amounts of payrolls.

All of the proposal's direct net costs are passed on to USA purchasers of imported goods and any such costs due to markets' behaviors serve as price subsidies for USA's exported goods.

The policy is not a net source of government tax revenue, and other than determining the values of cargo passing through USA's borders, the policy grants no policy discretion to the federal government. Valuation is determined as within the USA expressed in U.S. Dollars.

Refer to: https://en.wikipedia.org/wiki/Import_certificates
You previously posted this irrelevant stuff.
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Old 08-19-2019, 08:07 PM
 
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Quote:
Originally Posted by damba View Post
You previously posted this irrelevant stuff.
Comparison of Import Certificates and Tariffs
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Old 08-19-2019, 09:58 PM
 
Location: 5,400 feet
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Quote:
Originally Posted by Supposn View Post
Annual trade deficits indicate our nation has purchased more products than we have produced. Trade deficits are particularly detrimental to their nation's numbers of jobs and amounts of payrolls.

A trade deficit means that we value of goods imported was greater than than the value of goods exported. It is not a measure of exports vs. production.
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Old 08-20-2019, 02:54 AM
 
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Quote:
Originally Posted by jiminnm View Post
A trade deficit means that we value of goods imported was greater than than the value of goods exported. It is not a measure of exports vs. production.
Jiminnm, the net balance of international trade is effectively, also a measure of the nation's purchases vs. production volumes.

Last edited by Supposn; 08-20-2019 at 03:03 AM..
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Old 08-20-2019, 03:00 AM
 
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Quote:
Originally Posted by damba View Post
You previously posted this irrelevant stuff.
Damba, yes; because it's relevant and doesn't mention elephants.
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Old 08-20-2019, 05:04 AM
 
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Quote:
Originally Posted by jiminnm View Post
A trade deficit means that we value of goods imported was greater than than the value of goods exported. It is not a measure of exports vs. production.
The world is a big place ...in the old days we did most of the worlds manufacturing here ....the rest of the world had little to offer us . I used to get the little umbrellas for the drinks from Japan but little else when I was younger .

Well today every country has a specialty that they do better and more efficiently than anyone else ..we are all globally linked today .....we get world class goods from all over today .....as a consumer the value for my hard earned dollar has been getting better and better ....at one time I spent almost 200 bucks for a fine pair of Italian dress shoes ...today I get fabulous quality shoes made in other countries for 80 dollars .

It only seems to make sense we are going to buy more from outside the country then we sell to others ..

We have our specialty too ..we excel in pharmaceutical products , farm equipment and thinking ..we design lots of stuff but we can’t make it efficiently here .
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Old 08-20-2019, 05:14 AM
 
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The company I worked for made its own industrial water pump castings here .... it got to the point between the costs of meeting epa regulations and labor and utility costs we were becoming more and more uncompetitive..

It got to the point that to stay in business we had to offshore the manufacturing of the castings ...

So we found a brand new modern Chinese Cnc factory that was well ahead of anything we could do ..

We ended up designing ,assembling and quality controlling the product here in the states ....

The company went from an 8 million dollar company to 100 million in the 20 years i was with them ...the once failing company employs hundred of people now in 4 states ....

The fact that we grew so much took all the people we buy from and use and grew their businesses as they had to hire people to support us . In fact Siemens opened an office up state ny solely to support us .

So there is nothing that says a trade deficit has to be bad.

Just ask yourself why you do buy foreign products where you have a choice ....it is likely because you want the best products you can find for your hard earned dollar ...not because China promises to come to your store and buy something from you
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Old 08-20-2019, 09:56 AM
 
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Quote:
Originally Posted by mathjak107 View Post
The company I worked for made its own industrial water pump castings here ... It got to the point that to stay in business we had to offshore the manufacturing of the castings ...

So we found a brand new modern Chinese Cnc factory that was well ahead of anything we could do ..
Mathjak107, if the USA adopts the Wikipedia's version of the Import Certificate, (IC) policy, the import of water pump casting would require surrender of ICs' of face values equal to the imported castings' values. That would be an additional expense to the U.S. Water pump producer.
But any importer of water pumps into the USA would be required to surrender ICs of face values equal to the value of the entire imported water pump. That would be an increase of all imported water pump prices to USA purchasers.

ICs are issued only to exporters of USA products produced within the last 2 years); if the exporters agreed to have their cargo assessed, and pay the fees based upon their assessed USA value.
Due to market conditions, any increase of IC global market values beyond the federal fees for issued ICs, serve as an indirect but effective price subsidy for USA exported goods. The federal fees by law are limited and annually adjusted to defray all federal direct expenses due to the IC policy.

Last edited by Supposn; 08-20-2019 at 10:11 AM..
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Old 08-20-2019, 10:26 AM
 
1,406 posts, read 719,692 times
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Quote:
Originally Posted by mathjak107 View Post
... Just ask yourself why you do buy foreign products where you have a choice ....it is likely because you want the best products you can find for your hard earned dollar ...not because China promises to come to your store and buy something from you
Mathjak107, Import certificate policy could not prevent the importation of any product for which there's an effective USA demand.
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