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Old 08-19-2019, 01:35 PM
 
16,413 posts, read 4,314,853 times
Reputation: 11523

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Quote:
Originally Posted by stburr91 View Post
The more I think about it, the more I can't help to think the $1000 cost is BS.

The US consumer is only paying a very small percentage of the tariffs, so many thousands of dollars of Chinese stuff would you have to buy to pay an additional $1000 a year.

Heck, I don't even buy $1000 wroth of Chinese crap a year, so there no way the tariffs are costing me much.
"Costing you money" is mostly invisible. The cellular network, internet, baseline auto parts industry and vast numbers of other industries use Chinese products. If your internet bill goes up $5 a month next year and it's partially due to more expensive equipment, you will never know the cause. If your brake job is $20 more...same goes.

Actually, in terms of cost, stuff at retail (or most things...) end up being 4X the "cost". The formula is well known. For example, if I am a plumbing supply.

A $100 item, I can purchase (by the container- direct from the US based major importer) for about 1/4 of the cost...about $25.

If the importer paid 20% on that item, that would be $5. Now the product sells for $30 - time 4 is $120.

So you actually have it backwards. The US consumer will pay 2 to 4 or MORE times the actual tariff on goods.
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Old 08-19-2019, 01:36 PM
 
16,413 posts, read 4,314,853 times
Reputation: 11523
Quote:
Originally Posted by TMSRetired View Post
And since when did JPMorgan care about us peons ?
They care about the many businesses that serve the peons...and they know less business will be done and/or less profit will be made (because of eating tariffs, slower sales, more defaults, etc.).
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Old 08-19-2019, 01:39 PM
 
Location: United States
11,114 posts, read 5,153,351 times
Reputation: 5347
Quote:
Originally Posted by craigiri View Post
"Costing you money" is mostly invisible. The cellular network, internet, baseline auto parts industry and vast numbers of other industries use Chinese products. If your internet bill goes up $5 a month next year and it's partially due to more expensive equipment, you will never know the cause. If your brake job is $20 more...same goes.

Actually, in terms of cost, stuff at retail (or most things...) end up being 4X the "cost". The formula is well known. For example, if I am a plumbing supply.

A $100 item, I can purchase (by the container- direct from the US based major importer) for about 1/4 of the cost...about $25.

If the importer paid 20% on that item, that would be $5. Now the product sells for $30 - time 4 is $120.

So you actually have it backwards. The US consumer will pay 2 to 4 or MORE times the actual tariff on goods.
Wow, just when I thought you couldn't embarrass yourself any further, you post this doozy.

By your logic, we should be seeing prices skyrocketing.
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Old 08-19-2019, 01:40 PM
 
11,646 posts, read 6,066,281 times
Reputation: 3734
Quote:
Originally Posted by craigiri View Post
"Costing you money" is mostly invisible. The cellular network, internet, baseline auto parts industry and vast numbers of other industries use Chinese products. If your internet bill goes up $5 a month next year and it's partially due to more expensive equipment, you will never know the cause. If your brake job is $20 more...same goes.

Actually, in terms of cost, stuff at retail (or most things...) end up being 4X the "cost". The formula is well known. For example, if I am a plumbing supply.

A $100 item, I can purchase (by the container- direct from the US based major importer) for about 1/4 of the cost...about $25.

If the importer paid 20% on that item, that would be $5. Now the product sells for $30 - time 4 is $120.

So you actually have it backwards. The US consumer will pay 2 to 4 or MORE times the actual tariff on goods.
https://www.npr.org/sections/money/2...-goes-to-china

Its a little bit of an older article, but I'm sure things have not changed THAT much.

Quote:
It feels like everything we buy comes from China. In fact, less than 3 percent of personal spending in the U.S. goes to China, according to a new report from the SF Fed.

That's partly because most personal spending goes to things like health care and housing that are, by definition, produced in the U.S.

But even when you look at the "goods" category, Americans spend way more on stuff that's made in the U.S. than on stuff that's made in China.

For the big-ticket items in the durable goods category (cars, furniture, etc.), about two thirds of personal spending goes to stuff made in the U.S. Just over 10 percent goes to China.

For smaller stuff ó food, clothes, gas, etc. ó 76 percent of personal spending goes to goods made in the U.S., and 6 percent goes to goods made in China.
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Old 08-19-2019, 01:41 PM
 
Location: Denver
1,306 posts, read 445,334 times
Reputation: 1247
Quote:
Originally Posted by T-310 View Post
I donít buy Chinese crap so I wonít pay.
Well that's a lie.

The computer you are typing on is almost certainly made in China. If not, then most of the components were. Your wireless router was, as is your cable modem or your DSL modem. Your phone was either made in China or South Korea. Your phone case and charger were almost definitely made in China. If you own a bicycle, it's split between Taiwan and China, depending on the manufacturer and the line. Own a tent? Probably made in China. The LED lights in your house? Made in China. And so on.

It's impossible to avoid buying things made in China as they manufacturer pretty much every vertical for export. Even for things "Made in the USA", most of the times, raw materials or fabrics come from Asia.
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Old 08-19-2019, 01:42 PM
 
1,659 posts, read 337,179 times
Reputation: 1916
Quote:
Originally Posted by stburr91 View Post
Wow, just when I thought you couldn't embarrass yourself any further, you post this doozy.

By your logic, we should be seeing prices skyrocketing.
Fear propaganda. That $200 TV will cost you $9000 next year.
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Old 08-19-2019, 01:43 PM
 
Location: Cumberland Co., TN
22,308 posts, read 21,949,156 times
Reputation: 21721
I dont think Ima going to buy 1000$ worth of stuff on that list.
First few items on list:
Subheading Product Description
0101.21.00 Live purebred breeding horses
0101.29.00 Live horses other than purebred breeding horses
0101.30.00 Live asses
0101.90.30 Mules and hinnies imported for immediate slaughter
0101.90.40 Mules and hinnies not imported for immediate slaughter
0102.21.00 Live purebred breeding cattle
0102.29.20 Cows imported specially for dairy purposes
0102.29.40 Live cattle other than purebred or those imported for dairy purposes
0102.31.00 Live purebred breeding buffalo
0102.39.00 Live buffalo, other than purebred breeding animals
0102.90.00 Live bovine animals, other than cattle and buffalo
0103.10.00 Live purebred breeding swine
0103.91.00 Live swine, other than purebred breeding swine, weighing less than 50 kg each
0103.92.00 Live swine, other than purebred breeding swine, weighing 50 kg or more
0104.10.00 Live sheep
0104.20.00 Live goats
0105.11.00 Live chickens weighing not over 185 g each
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Old 08-19-2019, 01:44 PM
 
1,792 posts, read 399,021 times
Reputation: 1719
Quote:
Originally Posted by stburr91 View Post
Wow, how embarrassing...for you.

The Chinese are absorbing the cost, not the US consumer.

The tariffs are costing the Chinese billions in direct subsidies, and in currency devaluation.
I think it's you who should be embarrassed.

https://markets.businessinsider.com/...9-8-1028453869
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Old 08-19-2019, 01:52 PM
 
1,659 posts, read 337,179 times
Reputation: 1916
Quote:
Originally Posted by TBMorgan View Post
I think it's you who should be embarrassed.

https://markets.businessinsider.com/...9-8-1028453869
I hardly think 14% who have raised input costs is significant at this point given they are looking over 1 year's worth of changes.

In the case of manufacturing the tariff effect on companies actually went down from 2018..from 15% to 13%.

And the majority of business leaders see no or a slight effect for the rest of 2019...this is both business and manufacture.

Now why didn't that article talk about those points in the report ?
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Old 08-19-2019, 01:54 PM
 
11,646 posts, read 6,066,281 times
Reputation: 3734
Quote:
Originally Posted by TMSRetired View Post
Fear propaganda. That $200 TV will cost you $9000 next year.
Funny thing is that the major Chinese brand TV (TCL) are SUPER cheap, and they are doing that to gain market share over the other major brands. Part of the reason they can do this is because TVs are now just another data source like social media where your activity is monitored and monitized.
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