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Old 08-08-2019, 09:34 PM
 
1,142 posts, read 236,473 times
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Quote:
Originally Posted by Mason3000 View Post
Economy continues to be weak?
That poster follows manufacturing as an economic indicator.
Go figure.
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Old Yesterday, 12:25 AM
 
Location: Out there somewhere...a traveling man.
39,738 posts, read 48,059,423 times
Reputation: 110814
OP here's a few example why you're wrong...

Walmart says higher tariffs on China goods will increase prices for U.S. shoppers.
https://www.nbcnews.com/business/con...ces-u-n1006366

Costco Prices: Trump Tariffs on China Raises Consumer Prices | Money
Costco Says ‘Prices Will Go Up’ Because of America’s Trade Wars. Here’s What Will Cost You More.

U.S. retailers blast new China tariffs, say move will raise prices further, hurt jobs.
https://www.reuters.com/article/us-t...-idUSKCN1UR5KF

https://www.washingtonpost.com/busin...?noredirect=on
“There is no question: We have to raise prices, which means consumers are going to be paying 30 to 40 percent more for toys,” said Isaac Larian, chief executive of MGA Entertainment, which makes popular brands like Bratz, Little Tikes and Poopsie Slime Surprise!
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Old Yesterday, 03:56 AM
 
38,625 posts, read 15,140,982 times
Reputation: 25000
Yet another thread where the title is a lie, and the OP didn't understand the information she/he was posting.
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Old Yesterday, 06:43 AM
 
851 posts, read 501,634 times
Reputation: 782
Still awaiting the 6 pages where the liberals talk amongst each other about how fake the other side is and gullible and all hail Pelosi..
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Old Yesterday, 11:35 PM
 
Location: Texas
26,971 posts, read 11,327,917 times
Reputation: 6204
Quote:
Originally Posted by Mason3000 View Post
I continue to see posters claiming the tariffs on China are being paid by the US consumer & wanted to put that fallacy to bed. The data shows that is not the case at all and in fact prices on imports from China have dropped since the tariffs were enacted. You can argue farmers have been impacted (they have), or that prices on some specific items may have gone up (they have), but the gloom & doom predictions by the corporate, financial pundits that the US consumer would pay the tariffs in the form of higher prices, is plainly incorrect.

"Imports by Locality of Origin: The price index for imports from China edged down 0.1 percent in May following a 0.2-percent drop the previous month. Import prices from China have not recorded a monthly advance since the index rose 0.1 percent in May 2018. Prices for imports from China declined 1.4 percent over the past year, the largest 12-month drop since a 1.6-percent decrease in February 2017."

https://www.bls.gov/news.release/ximpim.nr0.htm
It would be less if there wasn't a tariff.
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Old Today, 12:23 AM
 
Location: Minneapolis, MN
6,591 posts, read 12,761,211 times
Reputation: 3038
Quote:
Originally Posted by Mason3000 View Post
I continue to see posters claiming the tariffs on China are being paid by the US consumer & wanted to put that fallacy to bed. The data shows that is not the case at all and in fact prices on imports from China have dropped since the tariffs were enacted. You can argue farmers have been impacted (they have), or that prices on some specific items may have gone up (they have), but the gloom & doom predictions by the corporate, financial pundits that the US consumer would pay the tariffs in the form of higher prices, is plainly incorrect.

"Imports by Locality of Origin: The price index for imports from China edged down 0.1 percent in May following a 0.2-percent drop the previous month. Import prices from China have not recorded a monthly advance since the index rose 0.1 percent in May 2018. Prices for imports from China declined 1.4 percent over the past year, the largest 12-month drop since a 1.6-percent decrease in February 2017."

https://www.bls.gov/news.release/ximpim.nr0.htm
So what is your point, that you think the trade war with China is working and it should continue? Tell that to all the farmers in the midwest who are facing bankruptcy now as a direct result of these tariffs. I have family who is on the verge of losing their farm right now...so yeah, can’t say I’m in favor of this charade.
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Old Today, 03:48 AM
 
Location: Great Britain
12,013 posts, read 4,100,046 times
Reputation: 7425
Quote:
Originally Posted by Mason3000 View Post
I continue to see posters claiming the tariffs on China are being paid by the US consumer & wanted to put that fallacy to bed. The data shows that is not the case at all and in fact prices on imports from China have dropped since the tariffs were enacted. You can argue farmers have been impacted (they have), or that prices on some specific items may have gone up (they have), but the gloom & doom predictions by the corporate, financial pundits that the US consumer would pay the tariffs in the form of higher prices, is plainly incorrect.

"Imports by Locality of Origin: The price index for imports from China edged down 0.1 percent in May following a 0.2-percent drop the previous month. Import prices from China have not recorded a monthly advance since the index rose 0.1 percent in May 2018. Prices for imports from China declined 1.4 percent over the past year, the largest 12-month drop since a 1.6-percent decrease in February 2017."

https://www.bls.gov/news.release/ximpim.nr0.htm
Putting tariffs on goods mean that the wholesaler and reatilers eventually have to pay more for imports and the price is passed on to the customer, that's how tariffs work. There was a 74% increase in tariffs in June equating to around $6 Billion, but more tariffs are set to be introduced and this will eventually hit US retail prices in some sectors.

Cost to U.S. consumers, businesses of Trump's China tariffs surged in June - trade group - Reuters

On the other side of the coin, the US taxpayer is now having to also sunsidise US Farmers who can no longer export their crops to China.

Trump’s $16 Billion Farm Bailout Criticized at WTO - Bloomberg


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Old Today, 04:13 AM
 
38,625 posts, read 15,140,982 times
Reputation: 25000
Quote:
Originally Posted by Cruz Azul Guy View Post
So what is your point, that you think the trade war with China is working and it should continue? Tell that to all the farmers in the midwest who are facing bankruptcy now as a direct result of these tariffs. I have family who is on the verge of losing their farm right now...so yeah, can’t say I’m in favor of this charade.
While U.S. farmers are facing bankruptcy, farmers around the world are celebrating.

"Chinese Commerce Ministry announced that China will no longer be buying American agricultural products, a decision with huge, wide-ranging implications. Zippy Duvall, president of the normally conservative-leaning American Farm Bureau, called the decision a “body blow” to American agriculture."

https://modernfarmer.com/2019/08/chi...fIigzEx7TyqDm0

A response from a "Zoe Brain" sums things up matters for farmers to a t.

"As an investor in Australian agribusiness company Wesfarmers, I owe those who voted for your President a deep debt of gratitude.

Australian soybean farmers have been trying to crack the Chinese market for decades. However, the highly conservative Chinese buyers were willing to accept the slightly higher prices and slightly lower quality in terms of pesticide content US product in return for a stable, safe source of supply for the highest quality soybeans used in making soy sauce.

Brazil and Russia outproduced us in the much larger lower quality soy used as feedstock, with lower costs, but it was the US who were our main competitors in the premium quality area.

Even before the latest round of US tariffs, Chinese buyers were starting to experiment with our cheaper, higher quality product, in part because of the relaxation in US regulatory oversight over quality and contaminants.

Brazil and Russia are ramping up their bulk soy production, but its Australian farmers who are reaping the benefits in the premium area, with the world price for soy now at realistic levels, where we can make a profit, but US farmers cannot. $5 cost, $7 price = feasible, $8 cost, $7 price not. As a result, Australia has seen its first trade surplus since 1975.

Part of that is due to decreased imports of US agricultural machinery, which is now too expensive due to the increased price of steel the US manufacturers have to pay. Japan and the EU have now largely replaced the US there, a little more expensive than pre Trade War US prices, but far less than current prices from the US. They are also more reliable sources, as who knows what the US is going to do next?"[/quote]

So Trump's tariff war is not only shifting agricultural markets to other nations, but also the machinery market.

"Reliable sources" is the phrases that jumped out.

Will U.S. farmers and manufacturers ever recover the markets they are losing?
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Old Today, 04:18 AM
 
Location: Great Britain
12,013 posts, read 4,100,046 times
Reputation: 7425
Quote:
Originally Posted by GotHereQuickAsICould View Post
While U.S. farmers are facing bankruptcy, farmers around the world are celebrating.

"Chinese Commerce Ministry announced that China will no longer be buying American agricultural products, a decision with huge, wide-ranging implications. Zippy Duvall, president of the normally conservative-leaning American Farm Bureau, called the decision a “body blow” to American agriculture."

https://modernfarmer.com/2019/08/chi...fIigzEx7TyqDm0

A response from a "Zoe Brain" sums things up matters for farmers to a t.

"As an investor in Australian agribusiness company Wesfarmers, I owe those who voted for your President a deep debt of gratitude.

Australian soybean farmers have been trying to crack the Chinese market for decades. However, the highly conservative Chinese buyers were willing to accept the slightly higher prices and slightly lower quality in terms of pesticide content US product in return for a stable, safe source of supply for the highest quality soybeans used in making soy sauce.

Brazil and Russia outproduced us in the much larger lower quality soy used as feedstock, with lower costs, but it was the US who were our main competitors in the premium quality area.

Even before the latest round of US tariffs, Chinese buyers were starting to experiment with our cheaper, higher quality product, in part because of the relaxation in US regulatory oversight over quality and contaminants.

Brazil and Russia are ramping up their bulk soy production, but its Australian farmers who are reaping the benefits in the premium area, with the world price for soy now at realistic levels, where we can make a profit, but US farmers cannot. $5 cost, $7 price = feasible, $8 cost, $7 price not. As a result, Australia has seen its first trade surplus since 1975.

Part of that is due to decreased imports of US agricultural machinery, which is now too expensive due to the increased price of steel the US manufacturers have to pay. Japan and the EU have now largely replaced the US there, a little more expensive than pre Trade War US prices, but far less than current prices from the US. They are also more reliable sources, as who knows what the US is going to do next?

So Trump's tariff war is not only shifting agricultural markets to other nations, but also the machinery market.

"Reliable sources" is the phrases that jumped out.

Will U.S. farmers and manufacturers ever recover the markets they are losing?
You do realise that the EU massively subsidise their farmers to the tune of around $60 Billion per year and prevent other countries from competing in their markets, it's called the Common Agricultural Policy. It has been helping to keep the third world poor since the 1950's and works incredibly well. It also mases land owners incredible rich and benefits the wealthy at the expense of the poor.

EU agriculture policy 'still hurting farmers in developing countries - The Guardian

The one good thing about Brexit? Leaving the EU's disgraceful farming system - The Guardian

Indeed it's little wonder that many in the UK Parliament are reluctant to leave the EU.

Peers and MPs receiving millions in EU farm subsidies | The Guardian
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Old Today, 05:37 AM
 
38,625 posts, read 15,140,982 times
Reputation: 25000
I did realize that.

U.S. subsidizes agriculture as well with similar results for less affluent nations.

U.S. subsidizes corn production to the tune of billions of dollars every year. Corn is then exported to Mexico at about 20% below cost of production which has destroyed the livelihoods of millions of small Mexican farmers.

However, the topic of this thread is U.S. tariffs on Chinese imports, rather than EU or US agricultural subsidies.

However, given that the thread title is a lie and the OP clearly doesn't comprehend how tariffs work, I guess we can chat about agricultural subsidies.

Why not?
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