weltschmerz
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Post by weltschmerz on Aug 1, 2019 18:30:19 GMT -5
Tariff Man is back, and American consumers will pay for it The Tariff Man is back. President Donald Trump's newly proposed tariffs on China would be particularly bad news for US consumers. Investors sold off well-known retail and tech stocks in response, because they would get hit hardest by the additional tariffs. "Tariffs are taxes on American consumers," said Rick Helfenbein, president and CEO of the American Apparel & Footwear Association. "The president's decision to proceed with adding these additional costs for hard-working American families is truly shocking." Trump tweeted Thursday that he's proposing an additional 10% tariff on $300 billion's worth of Chinese-made products entering the United States. That includes things like smartphones, toys, footwear and many other consumer goods. "American families shouldn't be a pawn in this trade war," said Hun Quach, vice president of international trade for the Retail Industry Leaders Association. "Today's announcement only moves us closer to consumers bearing the brunt of the pain." The National Retail Federation said it is disappointed the administration is doubling down on tarrifs. "These additional tariffs will only threaten US jobs and raise costs for American families on everyday goods," said David French, senior vice president for government relations at the NRF. "The tariffs imposed over the past year haven't worked, and there's no evidence another tax increase on American businesses and consumers will yield new results." www.cnn.com/2019/08/01/investing/stocks-retail-tech-tariffs/index.htmlEnjoy! Keep bending over for Trump to screw you. |
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countrygirl2
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Post by countrygirl2 on Aug 1, 2019 18:51:18 GMT -5
And yet the repubs will never get it.
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dondub
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The meek shall indeed inherit the earth but only after the Visigoths are done with it.
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Post by dondub on Aug 1, 2019 18:55:34 GMT -5
They shorted the market and made a killing.
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countrygirl2
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Post by countrygirl2 on Aug 1, 2019 19:16:34 GMT -5
Yeah, there is that, but its putting everything into chaos, not just here but other countries.
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Gardening Grandma
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Post by Gardening Grandma on Aug 1, 2019 20:43:00 GMT -5
There’s something happenin’ here.
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What it is, is perfectly clear.
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There’s a man with tariffs over there.
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Economists sayin’ we’ve got to beware.
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I think it’s time we stop children, what’s that sound, everybody look what’s goin’ down...
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(your 401k, your IRAs, investment portfolios, company pension, etc.)
Credit to Bruce Linder
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OldCoyote
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Post by OldCoyote on Aug 1, 2019 21:03:31 GMT -5
Hey, I don't mind paying a little extra now, because I know Trump will win the tariff battle. He most certainly holds the Trump card!!
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djAdvocate
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only posting when the mood strikes me.
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Post by djAdvocate on Aug 1, 2019 23:36:15 GMT -5
what will that victory look like, OC?
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dondub
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The meek shall indeed inherit the earth but only after the Visigoths are done with it.
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Post by dondub on Aug 2, 2019 0:38:58 GMT -5
Clueless doesn’t win shit.
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happyhoix
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Post by happyhoix on Aug 2, 2019 6:46:23 GMT -5
Trump claimed yesterday that he is raising the tariff and that CHINA will pay the new 10% tax.
I need someone to explain to me if 1) Trump doesn't understand that China will pass off the higher tax onto American consumers, or 2) Trump knows full well that this extra tax will hit American consumers in the pocket but is hoping if he claims it won't, at least his Trumpettes will believe him.
Because if it's #1, that makes me seriously question how good the Wharton school of business is. |
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happyhoix
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Post by happyhoix on Aug 2, 2019 6:52:02 GMT -5
Heard a talking head this AM say that this is the first of Trump's tariff wars that will directly impact consumer's wallets, since it will raise the cost of kids' clothes sold at Walmart, phones, etc., and it's going to impact right as we move into the big Christmas buying season - and as the election season is starting to gear up.
It will be interesting to see how many of the Trumpettes remain devoted to Trump if he starts costing them actual money. Wasn't it a GOP candidate who said 'it's the economy, stupid?'
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Aug 2, 2019 7:21:48 GMT -5
I read it's going to impact I-phones. I figured if anything will do Trump in it's getting between Apple die hards and their phones.  |
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busymom
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Post by busymom on Aug 2, 2019 8:41:17 GMT -5
I'm SO glad I did a bunch of my Christmas shopping early this year. Those tariffs are going to hurt. Our fearless leader isn't too bright.
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OldCoyote
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Post by OldCoyote on Aug 2, 2019 8:50:29 GMT -5
what will that victory look like, OC? It is not going to look like anything, When Trump wins the tariff battle, china rolls back it's tariffs, the importer will raise their prices ,, more profit,
No sense leaving money on the table. Woooo Hooooo big business wins again!!
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OldCoyote
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Post by OldCoyote on Aug 2, 2019 8:54:08 GMT -5
Wait?? don't tell me you don't own stock in those Co's?? You forget the Name here Your Money And More??
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giramomma
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Post by giramomma on Aug 2, 2019 8:56:25 GMT -5
I think it depends on who it affects. We aren't driven by consumerism much.
Perhaps the upside of less stuff being bought will be better for our environment. And recalibrating needs isn't so awful. I'm hard pressed to believe that kids having toy rooms that rival ToysRUs is a real need...as well as having one tv per person in a house. Depending on the timing of the recession, the increased tarrifs might be a moot point anyone. Hopefully someone out of a job and trying to make a go of it on unemployment will be curtailing spending anyway, rather than complaining that their non-essential doo-dads now are costing them way more. And the wealthy...they are going to buy regardless.
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giramomma
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Post by giramomma on Aug 2, 2019 9:03:28 GMT -5
what will that victory look like, OC? It is not going to look like anything, When Trump wins the tariff battle, china rolls back it's tariffs, the importer will raise their prices ,, more profit,
No sense leaving money on the table. Woooo Hooooo big business wins again!!
If big business is winning, why is the stock market opening lower today? Would the market be soaring? |
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OldCoyote
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Post by OldCoyote on Aug 2, 2019 9:12:12 GMT -5
Speaking about bringing jobs back.. The economy keeps chugging along, So how does it keep chugging along with Trump is ruining America,,
Tariffs tariffs tariff,, Climate Change,, every Liberal in America opposing everything Trump does, Yet with all that, We are moving right on down that road to success!! Most definitely President Trump Is Making America Great Again!! Inspite of everything you do to keep it from happening!
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OldCoyote
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Post by OldCoyote on Aug 2, 2019 9:13:35 GMT -5
It is not going to look like anything, When Trump wins the tariff battle, china rolls back it's tariffs, the importer will raise their prices ,, more profit,
No sense leaving money on the table. Woooo Hooooo big business wins again!!
If big business is winning, why is the stock market opening lower today? Would the market be soaring? It will be up next week, when the power players get finished with their profit taking. |
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dezii
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Post by dezii on Aug 2, 2019 9:50:05 GMT -5
Hey, I don't mind paying a little extra now, because I know Trump will win the tariff battle. He most certainly holds the Trump card!!
Your sure about that?...clairvoyant...regarding the winning. I am guessing your not into farming as a career...say soybeans, corn , wheat amd such and are really not concerned if these tariffs are causing deep pain for millions of American families....u got yours [as u have bragged over time...whether true , who really knows..]…. |
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dondub
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The meek shall indeed inherit the earth but only after the Visigoths are done with it.
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Post by dondub on Aug 2, 2019 11:13:41 GMT -5
Last 30 months of Obama had 6.6 million new jobs.
First 30 months of Trump had 5.7 million new jobs.
Whoooo hoooo!
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Tennesseer
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Post by Tennesseer on Aug 2, 2019 11:37:34 GMT -5
Last 30 months of Obama had 6.6 million new jobs. First 30 months of Trump had 5.7 million new jobs. Whoooo hoooo! Try harder. You're not 'edgy' enough.  |
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hurley1980
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I am all that is wrong with the world....don't get too close, I'm contagious.
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Post by hurley1980 on Aug 2, 2019 11:38:18 GMT -5
Doesn't mind paying extra for tariffs, but hates the idea of paying extra for universal healthcare or education. That makes total sense in a republican mind.  |
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happyhoix
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Post by happyhoix on Aug 2, 2019 11:49:18 GMT -5
Speaking about bringing jobs back.. The economy keeps chugging along, So how does it keep chugging along with Trump is ruining America,,
Tariffs tariffs tariff,, Climate Change,, every Liberal in America opposing everything Trump does, Yet with all that, We are moving right on down that road to success!! Most definitely President Trump Is Making America Great Again!! Inspite of everything you do to keep it from happening!
Job growth is slowing down. The country is averaging 165,000 per month, last year it was 223,000 per month.
Trump brags about a 3.1 economic growth rate - but after all Trump's bragging in 2018, he didn't actually achieve 3.0, he got a 2.9, which was what Obama got in 2015, when all the GOPers claimed Obama was waterboarding the economy.
www.cnbc.com/2019/07/26/gdp-growth-fails-to-hit-trumps-3percent-target-in-2018.html
So what was it, great in 2015 just like it's great now, or crappy then and crappy now?
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Deleted
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Post by Deleted on Aug 2, 2019 13:37:12 GMT -5
what will that victory look like, OC? I got this... The victory will be the expense of keeping the economy from overheating, will be passed on to another country who formerly made out on trade surpluses/ equality. Instead of us paying for this control of economic activity, through Fed interest rate increases. The taxes collected on these tariffs, will benefit the lowering of the spending deficit also. Our neighboring foreign posters, are really against this tariff activity, and will post on it, omitting what is really happening. |
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weltschmerz
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Post by weltschmerz on Aug 2, 2019 13:38:51 GMT -5
China When Trump emerged from his meeting with Xi in Osaka in June, he said trade talks were "right back on track." He then told reporters at a news conference that although the US wouldn't be lifting current tariffs, Washington also wouldn't tax what he called the "$350 billion left that could be tariffed."
"We're not going to be doing that," he said.www.cnn.com/2019/08/02/asia/donald-trump-north-korea-china-intl-hnk/And then the pathological liar did it. Enjoy paying much more for everything. Winning! |
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djAdvocate
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Post by djAdvocate on Aug 2, 2019 14:08:13 GMT -5
what will that victory look like, OC? It is not going to look like anything, When Trump wins the tariff battle, china rolls back it's tariffs, the importer will raise their prices ,, more profit,
No sense leaving money on the table. Woooo Hooooo big business wins again!!
yes, and consumers lose, big time.
you are not big business, so how can you possibly be in favor of this?
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djAdvocate
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Post by djAdvocate on Aug 2, 2019 14:11:06 GMT -5
what will that victory look like, OC? I got this... The victory will be the expense of keeping the economy from overheating, will be passed on to another country who formerly made out on trade surpluses/ equality. Instead of us paying for this control of economic activity, through Fed interest rate increases. The taxes collected on these tariffs, will benefit the lowering of the spending deficit also. interesting perspective. not sure I agree with it, but I am considering it.
edit:ok, I looked into it, and I generally agree, though the impact is fairly minor. tariffs are less than 3% of our revenue, currently.
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NastyWoman
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Post by NastyWoman on Aug 2, 2019 15:26:15 GMT -5
I'm SO glad I did a bunch of my Christmas shopping early this year. Those tariffs are going to hurt. Our fearless leader isn't too bright. Since my family lives abroad my Christmas shopping is done abroad as well. I may very well benefit from the tariffs (I am not really much of a shopper outside the Christmas season) but that doesn't make this situation good in my eyes.
As for reducing the deficit, wasn't that supposed to come from the massive taxcuts for the top few percent and companies who would all flow that back into the ecoomy? Why would we even need this we'll all be Scrooge McDuck soon swimming in money. 
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mollyanna58
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Post by mollyanna58 on Aug 2, 2019 15:52:28 GMT -5
Are Ivanka's products exempted again?
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kadee79
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S.W. Ga., zone 8b, out in the boonies!
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Post by kadee79 on Aug 2, 2019 19:37:00 GMT -5
Are Ivanka's products exempted again? Is anyone still selling her junk? |
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