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That’s because in the overwhelming majority of situation it’s the importer who is responsible for it not the manufacturing side. They may bundle the pricing to making it easier or you pay when the shipment hits the US. Sometimes customs brokers/tpl company’s front the money but that’s getting in the weeds
We use a big international company in Taiwan that handles the manufacturing of our parts to our specs with contracted factories ….so they are actually the exporter and on the United States side the importer too with a presence here
So there price to us is inclusive and our prices in the market place on those items are based on our inclusive costs
Is anything made in mainland China for export actually "world class" or is all just cheaper knockoff versions of real "world class" items?
Absolutely, China creates "world class" students.
In schools, at every level. No dispute at all. The Chinese out perform anybody/everybody else, from anywhere on the planet. (They've surpassed the Japanese, and Indian students in this regard.)
Just look at college admissions. In fact, look at "who's" limited, due to over representation....
The importer of record pays the duties, taxes and tariffs. It’s an easy question to answer for those with even a basic understanding of international trade and logistics. How and if it gets redistributed is another question just as with the sales tax scenario
Incorrect. This is the economics forum, and the question is and has been and will continue to be, "who bears the economic burden of tariffs & taxes?"
The party that bears the statutory burden of the tariff is independent of the entity that bears the final economic impact. Almost always this is a combination of producer & consumer, based on the price-elasticity of supply and price-elasticity of demand.
Again, let's see if you can get this simple Econ 101 question right:
When a housewife goes to the grocery store to buy taxable items, who pays the sales tax?
Last edited by moguldreamer; 01-19-2022 at 07:59 AM..
Incorrect. This is the economics forum, and the question is and has been and will continue to be, "who bears the economic burden of tariffs & taxes?"
The party that bears the statutory burden of the tariff is independent of the entity that bears the final economic impact. Almost always this is a combination of producer & consumer, based on the price-elasticity of supply and price-elasticity of demand.
Again, let's see if you can get this simple Econ 101 question right:
When a housewife goes to the grocery store to buy taxable items, who pays the sales tax?
Hence why I said we pay it not China. You complain about Economics being guessing and then can’t get out of a text book. We have paid for the tariffs not China. It’s just that simple. We also pay the sales tax, we is a collective not a single person. One would have thought that was obvious from the start
As previously explained, the burden of any tax, including a tariff, is shared between producer and consumer based on the price elasticity of supply and price elasticity of demand.
Quote:
Originally Posted by Lowexpectations
You complain about Economics being guessing
Incorrect. I haven't complained about any such thing.
Quote:
Originally Posted by Lowexpectations
We have paid for the tariffs not China.
Incorrect. As previously explained, the burden of any tax, including a tariff, is shared between producer and consumer based on the price elasticity of supply and price elasticity of demand.
When a housewife goes to the grocery store to buy taxable items, who pays the sales tax?
Quote:
Originally Posted by Lowexpectations
We also pay the sales tax, we is a collective not a single person. One would have thought that was obvious from the start
Incorrect. You are being logically inconsistent between your flawed assertion regarding China Tariffs and this simple Econ 101 question regarding the housewife, grocery store and sales tax - which you didn't pass.
If we apply your flawed China Tariff logic to the simple grocery store mid-term exam question (a "gimme" btw), by your logic the grocery store pays the sales tax -- after all, it is the grocery store - not the housewife - that files tax documents with appropriate state and local taxing authorities, and "pays" via an electronic funds transfer to the taxing authority all sales taxes due.
The burden of the sales tax falls on a combination of producers and consumers based on the price elasticity of supply and price elasticity of demand.
Last edited by moguldreamer; 01-20-2022 at 08:31 AM..
We pay it to the merchant who collects it from us and passes it onto the taxing authorities
At least your reply was in the neighborhood of the right answer..
The burden, also called incidence, of the sales tax falls on a combination of producers and consumers based on the price elasticity of supply and price elasticity of demand. "Price Elasticity" refers to the slope of the supply and demand curves.
The burden of the sales tax falls on a combination of producers and consumers based on the price elasticity of supply and price elasticity of demand.
That's basically another way of saying that whether the importer can pass along price increases on his product depends on what alternatives or options the buyer may have in the marketplace to find a similar or identical product.
If the tariff on the product from Importer A raises the price sufficiently that the buyer will choose instead to buy from US company B, then the tariff has accomplished the purpose of protecting American products and American workers. Of course, those aren't the only options that the US buyer has, but it's one important option that can help protect jobs of American workers.
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