Who pays tarriff imposed by TARRIFFMAN? The tarriffer, or the tariffEE?

The cost of Trump’s tariffs has fallen ‘entirely’ on US businesses and households: Goldman

https://www.cnbc.com/2019/05/12/gol...all-entirely-on-us-businesses-households.html

 

Trump’s Trade War Escalation Will Exact Economic Pain, Adviser Says

https://www.nytimes.com/2019/05/12/...my.html?te=1&nl=politics&emc=edit_cn_20190513

WASHINGTON — President Trump’s chief economic adviser said on Sunday that American consumers would bear some pain from the escalating trade war with China, contradicting Mr. Trump’s claim that his tariffs are a multibillion-dollar, mostly one-way payment by China to the American Treasury.

The comments from Larry Kudlow, the director of the National Economic Council, came after the 11th round of trade negotiations broke off without a deal, prompting Mr. Trump to raise tariffs on $200 billion worth of Chinese products and begin a process to impose levies on nearly every product China exports to the United States.
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Fact: the United States has a president who does not understand the ramifications of his favorite economic policy. He calls himself a "tariff man" but doesn't know how they work or who pays for the tariffs.
I'm sure his advisers have explained them to him, but like his followers on so many issues, he refuses to accept the truth.

 

This is what a trade war looks like.

China is raising tariffs on $60 billion of US goods starting June 1

https://www.cnbc.com/2019/05/13/chi...n-60-billion-of-us-goods-starting-june-1.html

Dow futures drop more than 400 points after China retaliates with tariff hikes

 

Or one can buy from another country or, GASP, America for a change. Now required buying from China appears to be a left wing fetish.

 

Now that China has escalated the trade war by increasing tariffs, what next?

Maybe they will slow down their purchase of US treasuries............causing interest rates to rise............and thereby hurting our economy by causing the rise of the cost of capital.

 

The Fed sets the interest rate, and a rate hike would slow borrowing. A hike would also prevent inflation. Trump's tariff will produce $75bn in tax revenue. China retaliated by taxing $60bn in US goods. Trump proposes subsidizing US mfgs to offset losses. It doesn't take a genius to see there's a huge tariff surplus there even with subsidies.

 

The cost of Trump’s tariffs has fallen ‘entirely’ on US businesses and households: Goldman

https://www.cnbc.com/2019/05/12/gol...all-entirely-on-us-businesses-households.html

 

You missed, and edited the Trump subsidies ... why? A 100% tariff on $60bn in US goods still nets $15bn dollars. Goldman's crying because the what 2% loss might reduce broker / CEO bonuses by $10K? Ironic that the DNC assault on Trump's tax cuts have slammed profits being used for corporate buy backs, and these tariffs will slow reverse that trend.

 

Quite a bit of ignorance on display in those words. With the balance of trade tilting heavily in China's favor currently, the Chinese stand the most to lose. Tariffs do not change China's cost of production, but it does put a kibosh on exports to the US when the US finds other suppliers...........and in many cases, products will be made in the US. While not a plus for consumers, it will boost American production and spur economic growth internally in the USA. When China starts feeling the pinch, and they will, we buy much more from them than they do from us............... they'll likely come back to the bargaining table and stop stealing our intellectual properties like they've been doing for decades. I wouldn't worry too much about Wall Street, the entire bunch of them are always nervous as a long-tailed cat in a room full of rocking chairs. Much to do about nothing.

 

Trump is wrong on how China tariffs work

https://www.axios.com/trump-wrong-china-tariffs-b951dd76-3da8-492e-8cb2-5cbffe695498.html

President Trump said in a Twitter thread Friday that China is paying billions of dollars to the U.S. Treasury due to tariffs hours after he reignited the trade war with a tariff spike. This is a claim he's made before, including back in January, when he said it twice during a press conference and on Twitter.

Reality check: The tariffs are paid by U.S. importers of affected Chinese goods, not by China's government or by Chinese companies. Importers then either raise costs on consumers, lower their own profit margins or both.

 

What you failed to mention is that Chinese EXPORTERS will suffer when their sales plummet. And that is the whole point of the exercise. Additionally, those tariffs can be used to subsidize the soy bean farmers who lose out in the deal................with plenty of change left over to spare.

 

Aside from being a tax on US consumers tariffs slow global growth.

 

Aw.............poor thing. You act like that's a bad thing.

 

Looks like we're still 15 billion ahead.

 

You have an understanding of the issue equal to Don's.

 

Love your fellow Americans -- buy Made in the USA and help pay decent wages to American citizens, and urinate on China.

Or are you afraid China might get mad if their market candy is taken away?

 

It's way more. 25% on the $300bn = $75bn. China puts 25% on $60bn that = $15bn. China could impose 100% on all $60bn and we'd net that $15bn.

 

https://www.cnbc.com/2019/05/13/chi...n-60-billion-of-us-goods-starting-june-1.html
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.

Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.

 

This was as predictable as the daily tweet bombs coming from Baby Donald.

 

Wow, it's like you didn't even read the post right above #92. I forgot to mention the 1st $15bn pays twice. Trump's going to buy $15bn in US produce to subsidize farmers, and give the $15bn in food to free food banks. Trump's winning biggly on the trade war. ::

 

We need to hear more about the democrats traitorous behavior towards the tariffs. The Chinese love to hear Americans protesting the tariffs. They believe that they might be able to wait us out until a democrat gets in the White House and they can get back to ripping us of again.

 

It's as if you don't realize consumers will pay more for products due to tariffs.

 

Dirty Donalds tariffs are paid by the AMERICAN CONSUMER and his subsidies to farmers hurt by hismoronic trade wars will be paid 100% by the AMERICAN TAXPAYERS.And it was AMERICAS CAPITALIST GREED which VOLUNTARILY shut down American manufacturing and shipped it offshore mostly to Asia, and it's cheaper labor market, with NO REGARD FOR AMERICAN WORKERS.

 

To the American government? Sounds like a tax.

Since when have those on the left cared about higher prices for the consumer?

Funny to see those on the left embracing supply side economics now, so long as they think there's ripe possibility of using it against Trump.

 

Subsidies to farmers have been going on a long time. It's a big problem, it's a lot more money than people think, and the vast majority of that money is not going to smaller family farmers.

Those subsidies, even 20 years ago, would have been enough to fund the wall several times over in just a year.