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For someone supposed to be a businessman this is elementary stuff ... the importer pays the tariff not China and they pass it on to us ...... China may take a gdp hit because as consumers we will not buy stuff from China with a surcharge .....but and and a big but ,,,other countries are no fools . if they can raise their prices on competitive goods because the Chinese competition is now higher they will ....ultimately it is the American consumer who ends up paying more
The company I work for was going to buy a pump manufacturer that was failing .... they cancelled the deal because there is a 25% price increase on the pump castings coming in ...around 50 American workers will be out of work when they close the doors in a week or so.
The owner won’t buy the company with a cloud over it like theses tariffs and so the manufacturer ran out of time
Trump actually understands this but he wants to punish his supporters for being stupid. Anger frustration passed onto American public is actually unfair. Making an inflation and bringing down stock market are all unnecessary.
We likely won’t have inflation as much as a slow down .... Americans will spend more money for X and Y will suffer ... we would all need enough money to buy both X and Y not x or Y for any meaningful inflation to happen
Tariffs used to compromise 90% of government tax revenue, that was how the US government was run before there was an income tax. Now something like 1% of revenue is from tariffs. Somehow we managed growth and economic expansion with that setup.
The intent of Trump's tariffs is to artificially limit imports from China to get them to cry uncle and open up their markets to our companies. They agreed until at the last minute said actually no we don't agree and hence the additional tariff increases.
Trump has stated repeatedly that in his ideal world there would be no tariffs nor any hindering of companies doing business in any other.
If as a side benefit companies start moving production out of China and weakening their ability to advance technologically that is also a good thing.
Tariffs used to compromise 90% of government tax revenue, that was how the US government was run before there was an income tax. Now something like 1% of revenue is from tariffs. Somehow we managed growth and economic expansion with that setup.
The intent of Trump's tariffs is to artificially limit imports from China to get them to cry uncle and open up their markets to our companies. They agreed until at the last minute said actually no we don't agree and hence the additional tariff increases.
Trump has stated repeatedly that in his ideal world there would be no tariffs nor any hindering of companies doing business in any other.
If as a side benefit companies start moving production out of China and weakening their ability to advance technologically that is also a good thing.
25% will not cut it for that purpose, 25% tariff is just a tax that will push many trump voters in double wides over the financial edge without giving them anything. Cheap colonial goods from China etc. is a survival necessity for many at this point.
Cheap colonial goods from China etc. is a survival necessity for many at this point.
Well, you can put it that way, but it goes way beyond fake tupperware and cheap shirts. We've spent 30 years building a global economy; even if you somehow disagree with that approach, you can't arbitrarily slam the doors and pretend it's 1955 all of a sudden.
A lesson both the US and UK seem hell-bent on failing.
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