Prices of Goods in the U.S. Did Not Rise At All Despite China Tariff Hike

They be dropping it upon our arse after Trump is elected.

 

Let's put all the fact on the table;

June 2016 cumulative custom duties; $25.6 billion
June 2017 cumulative custom duties; $25.2 billion
June 2018 cumulative custom duties; $28.3 billion
June 2019 cumulative custom duties; $50 billion

Thus, over a nine months period, Trump's tariffs generated an additional $25 billion, annualized, $30 billion......CERTAINLY NOT AN EXTRA $100 BILLION SOME BELOW AVERAGE INTELLIGENT PEOPLE HAVE BEEN CHANTING.

Next,

In 2018, total U.S. trade with foreign countries was $5.6 trillion. That was $2.5 trillion in exports and $3.1 trillion in imports of both goods and services.

https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270

Trump's extra $30 billion he collected from Chinese importers equates to 1% of total imports. In other words, an extra 1% tax on all imports would equate to $30 billion, and would raise the price of Core's/CPI's basket of goods by less than 1/2 percent, due to the fact not all goods in said inflation baskets are imported.



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zero, do you think Trump will get that deal, if so I would support him on that

what has Trump proposed so far that leads you to believe he will stop that?

 

Chinese government-sponsored Confucius Institutes on U.S. university campuses operate under opaque contracts and often stand accused of interfering in China-related education activities. China's sponsorship of think tank research, academic chairs and intellectual partnerships ensure that Left always carries Chinese Communist's water.

A recent report by Foreign Policy detailed how former Hong Kong chief executive Tung Chee-hwa has spent money through his China-United States Exchange Foundation (CUSEF), funding research at the Johns Hopkins University School of Advanced International Studies, the Brookings Institution and elsewhere.

CUSEF, of course, denies pushing Chinese government ideology, but its connections are clear. Tung is vice chairman of a body called the Chinese People's Political Consultative Conference, which is connected to the United Front Work Department, the Communist Party agency designed to advance party objectives with outside actors.

Recipients of these funds routinely insist their academic independence is intact. But as China exploits these institutions' need for cash, examples of self-censorship mount. Researchers understand that their access to China depends on not ruffling feathers. Publishers agree to erase critical articles from journals to gain access to the Chinese market.

By influencing the influencers, China gets Americans to carry its message to other Americans. That's much more effective than having Chinese officials deliver those messages.

https://www.washingtonpost.com/opin...b0995360725_story.html?utm_term=.d4b525f242c9

 

Yes, not directly, but by cutting their prices to cover the expense. I also considered our importers, but there is no evidence of unusual price pressure in the Producers Price Index.

 

Let's continue;

Q; How much goods and services in CPI's inflation basket are imported, and what's their weight?





Weight

• Housing - 40 percent
  
• Food and beverage - 18 percent
• Recreation - 6 percent
• Education and communication - 5 percent
• Apparel - 4 percent
• Transportation - 18 percent
• Medical care - 6 percent
• Other goods and services - 5 percent

Take a guess.....

 

About 10% of CPI's basket of goods and services are imported, and approx. 15% of our imports are made in China.

Thus, when calculating Core and CPI, Trump's additional tariffs equate to a minuscule amount/percentage.

In other words, don't listen to ZORRO.

 

Sorry but a chart of averages says nothing about who actually won from the Trump tax cuts. Nice try though.

Basically Trump blew up the deficit to give a tax cut to the rich.

 

If you want to know the answer, then Google US inflation. Oh, here's a link.....

https://tradingeconomics.com/united-states/inflation-cpi

.....so all these costs that anyone thinks businesses have passed onto consumers doesn't seem to agree with inflation.

 

Look at which corporations got the biggest tax cuts and then see if the prices of their consumer goods went down.

 

Here is an interesting analysis of the Trump tax cuts. Who actually benefitted from the tax cuts and what did corporations do with their windfall and what did the tax cuts do to tax revenue.

https://americansfortaxfairness.org/10016207-2/

 

Brightfart is the Trumpischer Boerbachter.

 

You guys have your made up themes committed to memory already!

And there is no negotiation going on with China.

The world is waiting Trump out now. He will accomplish nothing other than bellowing at rallies, tweeting, and making bone headed policy moves because he doppelgänger, Sham Hammity told him to.

 

I will agree that China is waiting and hoping Trump loses the next election so they can reurn to business as usual with the democrats. If Trump is reelected they will be forced to capitulate and strike a fair trade deal with us. Their economy is tanking and they can't let it do so four more years

 

HOW MANY TIMES WILL I HAVE TO REPEAT THE FOLLOWING INDISPUTABLE FACTS;

1. Over the last 12 months, Trump collected an additional $30 billion in custom duties

June 2016 cumulative custom duties; $25.6 billion
June 2017 cumulative custom duties; $25.2 billion
June 2018 cumulative custom duties; $28.3 billion
June 2019 cumulative custom duties; $50 billion
An extra $25 billion over a nine months period, annualized, $30 billion
Source; Monthly Treasury Statement

2. In 2018, total U.S. trade with foreign countries was $5.6 trillion. That was $2.5 trillion in exports and $3.1 trillion in imports of both goods and services.
https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270

The U.S. trade deficit with China was $419 billion in 2018. The trade deficit exists because U.S. exports to China were only $120 billion while imports from China were $540 billion.
https://www.thebalance.com/u-s-china-trade-deficit-causes-effects-and-solutions-3306277

Thus, $30 billion equates to 1% of total imports, 7% of total imports from China, and imports from China equates to 13.5% of total imports.

3. QUESTION; How much goods and services in CPI's inflation basket are imported, and what's their weight?

Goods and Services/Weight

• Housing - 40 percent.....
  
• Food and beverage - 18 percent...
• Recreation - 6 percent.....
• Education and communication - 5 percent...….
• Apparel - 4 percent
• Transportation - 18 percent
• Medical care - 6 percent
• Other goods and services - 5 percent

ANSWER: Approx. 10% of above-mentioned goods and services are imported, and imports from China equates to 13.5% of total imports, thus, conservatively, less than 2% of CPI's basket of goods are Chinese imports, in dollar figures, $2 out of $100.

Thus, a 25% increase on Chinese imports ($2 + 25%) would barely show on CPI's inflation radar.

ARE WE CLEAR!

 

I can't remember asking you a question.

 

They are going to return to business as usual with the UnitedStates of America, as will the rest of the world.

The Chinese are alternatively frustrated and delighted by Trump.

They celebrated when Trump handed them their biggest foreign policy objectives on a plate, free of charge or expectation.



The next President will have to resurrect the legacy of Roosevelt and Churchill, which Trump has so casually and senselessly betrayed. The United States will cede world leadership to the Chinese all too soon if we don’t.

Just now, I am watching Micheal Collins remark on the world tour they took after the Apollo 11 landing, where they were swamped with crowds in every country they visited.

They rejoiced in our achievement, because it was an achievement for all mankind.

You won’t see that spirit from Donald Trump.

 

Unfortunately business as usual is China stealing intellectual property, dumping below cost products in the US with the long term objective of market domination and making it difficult to impossible to sell US manufactured goods in China. Why democrats want that is beyond me but as you just stated they do.
You won't see that spirit from Donald Trump

 

The purpose of raising tariffs was to even the playing field so that our manufacturing companies would be more competitive, not so that they could raise their prices and boost their bottom line. The economists and journalists predicted that our companies would raise their prices as the competition waned and would again not be competitive. And that is what history has proven.

As the price of US steel skyrockets due to the lack of competition, the price of products will also rise dramatically and we will feel it.
Consumers will be harmed. No doubt. It is very early in the game.

Tariffs levied against Mexico will affect the 14 million jobs that NAFTA is responsible for and Trump's advisors educated him on this fact, and he listened for a change.

I believe that China agreed to buy some soybeans, and that will stop if Trump
continues his bullying tactics. China is already making deals with other countries, as are EU countries and we are going
to be left sucking hind teat (a farm expression). Our farmers have lost many of their markets, and many will go bankrupt.

 

It seems like everything Donald Trump does is harmful in some way despite the fact that our economy is steadily doing better and better in fact so much so that we've experienced a 50-year low in unemployment rate.

It seems like things are divided on a political line. And I don't mean things like beliefs I mean the truth. We live in a society where the truth is partisan. Let's look at the border issue. The infamous picture with a child in a dog crate, that was taken during Obama's administration. The woman who had to drink out of the toilet, it was a sink connected to a toilet where freshwater comes in.

Concentration camps the asylum-seeking, it's propaganda.

 

Ah yes there is negotiation going on with China.

The recent G20 is case in point.

The world isn't waiting Trump out, the democrats are trying to wait it out.

And it won't work because he will likely win re election, the democrat clown car will see to that.

 

The Chinese communists celebrated the moon landing, so they have a heart of gold?

 

The US people buy about 15 trillion in stuff.
Tariffs are on a couple hundred billion.
Do the math.
Then we can discuss how much US business has absorbed.

 

https://www.cnbc.com/2019/05/13/thi...ces-for-consumers-and-it-could-get-worse.html

 

Your articles suggestion that prices "could get worse" are not panning out.