Current Events > US raises tariffs on China to 25% on $200 billion of goods

(+) Yeah! (+)

Trump Lets Tariff Increase Go Ahead, Threatens More as Talks Resume https://www.wsj.com/articles/u-s-to-move-forward-with-china-tariffs-trump-says-11557424081

President Trump decided to let a tariff hike on $200 billion of Chinese goods go into effect at 12:01 a.m. Friday even as trade negotiations resumed, and the president also threatened to move ahead with fresh levies on everything else China sells to the U.S. that isnt already subject to tariffs.

U.S. and Chinese negotiators met Thursday and plan to meet again on Friday morning, but even so tariffs would increase to 25% from 10% as planned, a White House spokeswoman said.
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and more american farmers get destroyed in its wake
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tariffs and protectionist policies only harm economies in the long run
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So this is what my moron co-worker was talking about. He said we'd get 200 billion more from tariffs a year. Really this comes out to 15% more in tariffs on 200 billion. Still doesn't mean it all goes to the US government. All this will do is hinder trade and all deals in the next few decades.
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time for some more socialism to bail out red states for a third time since this started.
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Futures aren't down much on the news since China is continuing negotiations in Washington today.
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Damn it

This is just going to make things more expensive for us. Companies aren't going to eat that cost
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We feed the world...
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Is this the SmootHawley Tariff Act of the 21st century?
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Good! Time for China to pay its fair share, been getting away with theft for far too long.

GasMonkey posted...

time for some more socialism to bail out red states for a third time since this started.

Are you saying tariffs are socialist in nature?
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SK8T3R215 posted...

Futures aren't down much on the news since China is continuing negotiations in Washington today.

Yeah, watch Trump walk out of the meetings and the stock tanks just before the weekend
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indica posted...

GasMonkey posted...

time for some more socialism to bail out red states for a third time since this started.

Are you saying tariffs are socialist in nature?

Pretty sure he's referring to the farmer bailout that happened after Trump tariffs.
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This might suck for plastic poop Walmart shoppers, but this really sucks for China. Their first account deficit in 17 means a big shift in the leverage they had. The reality is they need us more than the other way.
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Kolibri X posted...

This might suck for plastic poop Walmart shoppers, but this really sucks for China. Their first account deficit in 17 means a big shift in the leverage they had. The reality is they need us more than the other way.

China just needs to start selling dollars for cheap, devaluing it and making imports prohibitive for USA.
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america trying to fuck with china? you're gonna have a bad time.
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iClockwork posted...

Good! Time for China to pay its fair share, been getting away with theft for far too long.

That's not how tariffs work. China doesn't pay them. Chinese businesses don't pay them.

Companies in America will pay them. Who will then pas the cost down to you and me.

If I am importing something with tariffs on it, that means I'll have to pay the fee to bring the stuff into America.

This cuts into Chinese profits, sure. But only because I'm not buying as much because it's to expensive on my end.

Because I, the American company owner, is paying that extra 25% not the Chinese.

Unit7 posted...

iClockwork posted...

Good! Time for China to pay its fair share, been getting away with theft for far too long.

That's not how tariffs work. China doesn't pay them. Chinese businesses don't pay them.

Companies in America will pay them. Who will then pas the cost down to you and me.

If I am importing something with tariffs on it, that means I'll have to pay the fee to bring the stuff into America.

This cuts into Chinese profits, sure. But only because I'm not buying as much because it's to expensive on my end.

Because I, the American company owner, is paying that extra 25% not the Chinese.

Shh, don't spoil it for the "Murrica!" type people...

GasMonkey posted...

time for some more socialism to bail out red states for a third time since this started.

And then the constant Republican voting.
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Unit7 posted...

This cuts into Chinese profits

The exact point...

How low is the dow going to go today emolga
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Goats posted...

How low is the dow going to go today emolga

Not really low they're down about .3% now unless negotiations fail and end with no deal sometime today which seems unlikely.
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Markets finished higher after talks were "constructive".
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GasMonkey posted...

time for some more socialism to bail out red states for a third time since this started.

Isnt it funny how the deepest red states tend to be the biggest beneficiaries of federal subsidies and tax dollars?
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0AbsoluteZero0 posted...

GasMonkey posted...

time for some more socialism to bail out red states for a third time since this started.

Isnt it funny how the deepest red states tend to be the biggest beneficiaries of federal subsidies and tax dollars?

i call it 'deeply hypocritical'
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Tariffs damage economies the way sanctions do because it reduces trade. Not nearly as fast as sanctions do, but tariffs are not net positive to an economy. Might as well shoot yourself in the foot while you play a game of chicken with the livelihood of people. This is why government intervention is bad and we should let the free market do its thing.

The point of tariffs was to bring manufacturing jobs back.

Aprils job report:

263,000 jobs added. Of those 263,000 jobs, only 4000 manufacturing jobs were added, which is nothing. The rhetoric behind manufacturing jobs is a scam by Trump. Tariffs (aka taxation on the middle class) are not working.