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Old 08-19-2019, 12:17 PM
 
5,358 posts, read 2,748,695 times
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Tariffs, aka taxes. Remember when the Tea party was apoplectic over such things? Fun times. Trump, the gift that keeps on giving.

Tariffs are expected to cost American households up to $1,000 per year when the next round goes into effect on September 1, according to a new note by J.P. Morgan.

According to the bank’s analysts, the cost of the U.S.-China trade war borne by consumers is likely to rise from around $600 per year — based on the first two “phases” of the tariffs on Chinese imports — to around $1,000, based on the third round of tariffs.


https://www.yahoo.com/finance/news/t...115849705.html
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Old 08-19-2019, 12:27 PM
 
1,770 posts, read 390,996 times
Reputation: 1707
Quote:
Originally Posted by biggunsmallbrains View Post
Tariffs, aka taxes. Remember when the Tea party was apoplectic over such things? Fun times. Trump, the gift that keeps on giving.

Tariffs are expected to cost American households up to $1,000 per year when the next round goes into effect on September 1, according to a new note by J.P. Morgan.

According to the bank’s analysts, the cost of the U.S.-China trade war borne by consumers is likely to rise from around $600 per year — based on the first two “phases” of the tariffs on Chinese imports — to around $1,000, based on the third round of tariffs.


https://www.yahoo.com/finance/news/t...115849705.html
I'm at that age where I'm decreasing my consumerism, so it won't matter. Don't think I'm the only one. I may buy a Japanese made car every 5 yrs, but won't need a new one for awhile.

But anyone could see a trade war w/ China would bring higher taxes when making purchases. Kudlow and Co can't be serious if they don' think otherwise.
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Old 08-19-2019, 01:06 PM
 
Location: Ohio
5,144 posts, read 1,860,309 times
Reputation: 4298
Amazed at the silence that your post generated. I do understand that this might be bad news to everyone that actually believed that Trump's tariffs would never affect their pocketbook.

Maybe in their mind, $1000 a years is a small price to pay to "make America great again" (in other words, poorer).

Or, I guess they might decide that J.P. Morgan is simply sending out "fake news".

Somehow they will twist this into a positive, prepare to be entertained.
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Old 08-19-2019, 01:19 PM
 
Location: United States
11,096 posts, read 5,145,937 times
Reputation: 5326
Weren't the next round of tariffs postponed?

The truth of the matter is that China is absorbing almost all of the costs of the tariffs, that's a fact.

I also noticed they didn't provide any data on how they came to that $1000 estimate.
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Old 08-19-2019, 01:22 PM
 
24,680 posts, read 12,181,073 times
Reputation: 10531
I don’t buy Chinese crap so I won’t pay.
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Old 08-19-2019, 01:23 PM
Status: "Proud American, Always and Forever" (set 19 days ago)
 
Location: DMV Area/NYC/Honolulu
12,547 posts, read 6,538,174 times
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Funny, I haven't noticed prices going up on anything

These Democrats and corporate Republicans will stop at nothing to get back into bed with China.
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Old 08-19-2019, 01:25 PM
 
16,311 posts, read 4,293,062 times
Reputation: 11486
Quote:
Originally Posted by stburr91 View Post
Weren't the next round of tariffs postponed?

The truth of the matter is that China is absorbing almost all of the costs of the tariffs, that's a fact.

I also noticed they didn't provide any data on how they came to that $1000 estimate.
Well, if they don't cost anything then they are not effective.

Trumps don't seem to believe in the real world....the idea being that the reason for tariffs is too make Americans buy less stuff from the target country, therefore "hurting" them.....

It's gotta be one or the other.

I doubt they will cost $1,000 only because THEY NEVER WILL HAPPEN TO ANY EXTENT. Just like Trump shutting down the Mexican border didn't cost us much.

They are costing business a LOT tho...in chaos.
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Old 08-19-2019, 01:29 PM
 
Location: United States
11,096 posts, read 5,145,937 times
Reputation: 5326
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.
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Old 08-19-2019, 01:34 PM
 
1,659 posts, read 328,716 times
Reputation: 1895
And since when did JPMorgan care about us peons ?
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Old 08-19-2019, 01:34 PM
 
11,618 posts, read 6,059,933 times
Reputation: 3724
Quote:
Originally Posted by stburr91 View Post
Weren't the next round of tariffs postponed?

The truth of the matter is that China is absorbing almost all of the costs of the tariffs, that's a fact.

I also noticed they didn't provide any data on how they came to that $1000 estimate.
They are probably assuming that everyone buys a new Flat Screen TV, iPhone, laptop, and Nintendo Switch every year, for all 2.5 of their kids.
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