POTUS and the tariffs/trade deficit
I know Trump can be a horses ass, however while the pundits ponder the impending economic collapse due to these market killing tariffs the stock market takes it in stride and goes up 500 points LOL.
I don't know much about trade, I know we are reported to have a huge trade surplus with a country that has 1.3 Billion people to trade with versus a country that has 330 million. Yet we buy 419 billion dollars more of their stuff than they buy of ours.
Our total global trade deficit is about 50 BILLION a MONTH!
Add in India with another 1.3 Billion consumers. Etc.
Go ahead Mr. Trump piss em off I don't need anything but food and water, electricity would be great along with gasoline. Otherwise I have enough trinkets, clothing to last my life time or at least until the prices go up to where Americans can compete.
I figure as long as it is cheaper to make it overseas, and ship it here and still beat out any American companies than we have to either use trade tactics or wait out the eventual increased incomes of populations far greater than ours to balance the lifestyles of the world.
I don't know much about trade, I know we are reported to have a huge trade surplus with a country that has 1.3 Billion people to trade with versus a country that has 330 million. Yet we buy 419 billion dollars more of their stuff than they buy of ours.
Our total global trade deficit is about 50 BILLION a MONTH!
Add in India with another 1.3 Billion consumers. Etc.
Go ahead Mr. Trump piss em off I don't need anything but food and water, electricity would be great along with gasoline. Otherwise I have enough trinkets, clothing to last my life time or at least until the prices go up to where Americans can compete.
I figure as long as it is cheaper to make it overseas, and ship it here and still beat out any American companies than we have to either use trade tactics or wait out the eventual increased incomes of populations far greater than ours to balance the lifestyles of the world.
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Eli Whitney invented the cotton gin around 1799. Cotton mills started sprouting up in virtually every little town here in South Carolina.. And every other garment factory you can think of for the next 200 years.. These mills and garment factories provided employment for anyone and everyone that wanted a job... Those were the good old days for America... Nice tariffs provided revenue for our Govt to operate with... NO damn lncome tax either. Then along came Tricky Dick Nixon.. He opened the door to China... No more cotton mills. No more garment factories. No more tariffs.. No more 'MADE IN THE USA' Everything we buy now is stamped 'MADE SOMEWHERE ELSE' 
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Funny how when the playing field is leveled our trade partners cry foul.
They dont seem to mind dumping thier products over here.
The Trump team is playing for the long game. The way the deficit is running. China will own the few percentage points of our financial future they dont already posses soon. Mexico needs to come to the table over the problems at the border.
No more dummy democratic give away deals.0 -
l say place an EMBARGO on ALL Chinese and Mexican goods... WE would survive.. l don't think they would 0 -
It?s hard to find sometimes and more expensive sometimes but I really try to buy American made goods. I honestly don?t care if we trade with China. They make nothing but cheap knockoffs and steal intellectual property. Dealt with that when I was selling exhaust products. Was not always easy selling the American muffler for $60 when the Chinese copy sold for $30....until 6 months later when the Chinese junk came back to the shops broken. 0 -
I keep hearing a tariff is a TAX on U.S. consumers. NOT TRUE !!! Unless the consumer continues to buy from Mexico / China / etc.
Tariffs are paid to U.S. Treasury and the money "sits there". The consumer buys an item from a NON TARIFFED country and does not pay a higher cost,, maybe less. The country selling the tariffed items loses sales,, AND THE TARIFF paid is still sitting in the U.S. Treasury. Won't be long until the country paying the tariffs will need to "cave in" to reasonable fair trade practices,, like NOT STEALING U.S. technology, what? just roll over and let them off the hook? Let them get away with unfair trade practices NOW and it'll NEVER GET FIXED once Trump is no longer President.
As said in a reply above, I don't need to buy one single item from Mexico or China. Can live the next 10 years w/o every owning a chinese or mexican item. Probably will be better off.0 -
droptop wrote:I keep hearing a tariff is a TAX on U.S. consumers. NOT TRUE !!! Unless the consumer continues to buy from Mexico / China / etc.
Tariffs are paid to U.S. Treasury and the money "sits there". The consumer buys an item from a NON TARIFFED country and does not pay a higher cost,, maybe less. The country selling the tariffed items loses sales,, AND THE TARIFF paid is still sitting in the U.S. Treasury. Won't be long until the country paying the tariffs will need to "cave in" to reasonable fair trade practices,, like NOT STEALING U.S. technology, what? just roll over and let them off the hook? Let them get away with unfair trade practices NOW and it'll NEVER GET FIXED once Trump is no longer President.
As said in a reply above, I don't need to buy one single item from Mexico or China. Can live the next 10 years w/o every owning a chinese or mexican item. Probably will be better off.
Tariffs paid go into the US Treasury general fund and are used to pay down the national debt. But to a certain extent that and whether it is an indirect tax paid by US consumers is beside the point.
Tariffs are an increased cost to the manufacturer and they handle it in different ways. Some hold the price line, some economize and others pass on the cost to the consumer. The consumer may buy less, not at all or purchase a different product. When the manufacturer passes on the cost and the consumer pays it the question to ask - and this is true of all taxes - is "is it worth it?"
Is it worth it to pay taxes to send kids to school? For national defense? I think most would say yes. Pay Social Security, which despite the whole "paying into" silliness is nothing more than a tax? How about food stamps? AFDC?
So despite our friends on the left trying to direct the narrative, the "it's a tax" admonition is a ruse. The real question is whether it's worth it. They'll say funding Planned Parenthood is worth it. That free cell phones are worth it. That whole host of social programs funded through taxes are worth it. Fighting for and paying taxes to level the field of international trade is somehow not worth it? :roll:0 -
In the late 60's I walked into the personnel office of a fairly large corporation to see if they had any openings. I was not happy where I was at. I told them I had filled out a resume about a year before.
The lady excused herself to go look for it. When she returned she asked where I had been, because they were indeed looking for someone with my background. I mentioned I was working across the street but had told the supervisor I was taking the afternoon off to go look for a decent job. She said she was going to send someone in to talk to me. So after about 10 minutes of interview the guy asked when I could start. It was a Thursday so I said how about Monday and he said sure. So I went back across the street and told my present boss to shove it, gathered the personals from my desk and left.
It didn't take but a few years and I was supervising a production line for the company. At break one day another supervisor was telling me how the company was expanding and opening manufacturing plants in Mexico and China. I told him I was aware of that and it wouldn't take long and he could kiss his job goodbye. He gave me a puzzled look so I explained it to him. The difference in wages, the lack of regulations , etc. Within 2 years the companies attitude was changed to "we are going to do it this way, and if you don't like it don't let the door hit you in the ass on the way out" . A far cry from "where you been, we are looking for people like you"
Lets make sure we give Trump some more time to MAGA , and get read of a bunch of those obstructionists who have been pocketing our money and doing nothing for us for many years already. The Democrats have gone plain insane over their potential losses of power and our money to make their family and friends filthy rich.0 -
Manufacturing is moving out of China and is Another reason I believe China will work out a fair trade agreement with the U.S. in 2019.
This has been happening for some time, tariffs will accelerate the move out of China and there will be NO GOING BACK.It has become less advantageous to set up factories in China. Over the past decade or so, China?s average manufacturing wages have tripled. Taxes, including social security, energy prices and exchange rates have increased. The soaring costs have weakened China?s competitive advantage as the ?world?s factory.?
https://www.theepochtimes.com/the-global-manufacturing-industry-is-moving-out-of-china_2694398.html
Remember when the U.S. could start manufacturing for war materials, build pipelines all over the U.S. in less than a year? Probably will never happen again but it is guaranteed that other countries can move out of China and setup new facilities in another country in a matter of months.
Easy to break the Chinese supply chain, cut off the link on the china side and attach it to the Asian side.0 -
The Tariffs are hurting me. Tires that are imported from China have been hit and the prices are going up again. I still support the basic premise of a level playing field stopping the Commies from forcing technology transfer, stealing trade secrets and putting huge barriers to their markets for US businesses.
My ONLY beef with Tariffs is the process they use for implementing them. If Trump announced a 25% tariff on tires today, it goes back 90 days for its impact. When that threat happens Chinese companies stop shipping and we are left in limbo on getting supplied with much needed product.
China will need to come to an agreement soon. The damage to their economy will create popular unrest and they can't afford to have one hundred million people storming their Commie palace.0 -
It is what the anti-American DEMOCRAT liars and their media partners don't tell you that matters:
Practically every country we trade with imposes tariffs, taxes, and costly regulations on products made in USA. We have been getting
screwed for years and finally we have someone who is NOT a career politician leveling the playing field. Thank goodness for DJT and let the liars, whiners, and swamp dwellers join the choir. Love the sound.0 -
Not to mention the fact that until Trump imposed or threatened too China and Mexico said FU, now they want to talk.
Liberal leftist ZTrump hating fke news spouting how it will kill economy, well if we are buying 50 million a month of stuff from somewhere else and we stop whose economy is going to hurt worse LOL0 -
bpost wrote:China will need to come to an agreement soon. The damage to their economy will create popular unrest and they can't afford to have one hundred million people storming their Commie palace.
Yep, China cannot afford a trade war with the US.0 -
Horse Plains Drifter wrote:bpost wrote:China will need to come to an agreement soon. The damage to their economy will create popular unrest and they can't afford to have one hundred million people storming their Commie palace.
Yep, China cannot afford a trade war with the US.
+1
Nor can Mexico.0 -
wpageabc wrote:Funny how when the playing field is leveled our trade partners cry foul.
They dont seem to mind dumping thier products over here.
The Trump team is playing for the long game. The way the deficit is running. China will own the few percentage points of our financial future they dont already posses soon. Mexico needs to come to the table over the problems at the border.
No more dummy democratic give away deals.
Approve.0 -
Sam06 wrote:Horse Plains Drifter wrote:bpost wrote:China will need to come to an agreement soon. The damage to their economy will create popular unrest and they can't afford to have one hundred million people storming their Commie palace.
Yep, China cannot afford a trade war with the US.
+1
Nor can Mexico.
Nor can the American farmers.0 -
lkannes wrote:Nor can the American farmers.
Don't worry the US gov't will bail the farmers out, just like they been doing since the '30s.0 -
Horse Plains Drifter wrote:lkannes wrote:Nor can the American farmers.
Don't worry the US gov't will bail the farmers out, just like they been doing since the '30s.
Either that or find a different market for their goods.
Like oil we should not be dependent on foreign sources. This could be a huge opportunity.0 -
Sam06 wrote:Either that or find a different market for their goods.
Like oil we should not be dependent on foreign sources. This could be a huge opportunity.
Yep, agree Sam. With all the rain going on in the mid west, farmers are not getting their crops in. Come fall this country might be darn glad if there was a commodity surplus.0 -
I wish we could get some rain here in NC.
The Farmers in the midwest are going to be hurting no doubt. I wounder if the deal with China buying our soybeans is still in effect?0 -
droptop wrote:I keep hearing a tariff is a TAX on U.S. consumers. NOT TRUE !!! Unless the consumer continues to buy from Mexico / China / etc.
Tariffs are paid to U.S. Treasury and the money "sits there". The consumer buys an item from a NON TARIFFED country and does not pay a higher cost,, maybe less. The country selling the tariffed items loses sales,, AND THE TARIFF paid is still sitting in the U.S. Treasury. Won't be long until the country paying the tariffs will need to "cave in" to reasonable fair trade practices,, like NOT STEALING U.S. technology, what? just roll over and let them off the hook? Let them get away with unfair trade practices NOW and it'll NEVER GET FIXED once Trump is no longer President.
As said in a reply above, I don't need to buy one single item from Mexico or China. Can live the next 10 years w/o every owning a chinese or mexican item. Probably will be better off.
You do understand that the tariff is paid by the person or company that is importing the product and not the company or country that is exporting the product, do you not?
The taxes are paid by Americans and passed onto consumers when the product is retailed.
Typically there is a cascade effect as well, where the tariff raises all prices, particularly on commodities. One only need look at the mess that was the steel market following the enactment of tariffs last year. Domestic producers were raising their prices almost as much as the tariff.0 -
Understood completely that is why I said I don't need nothing. When the price goes up to the same point it can be produced at home so be it. Don McManus wrote:droptop wrote:I keep hearing a tariff is a TAX on U.S. consumers. NOT TRUE !!! Unless the consumer continues to buy from Mexico / China / etc.
Tariffs are paid to U.S. Treasury and the money "sits there". The consumer buys an item from a NON TARIFFED country and does not pay a higher cost,, maybe less. The country selling the tariffed items loses sales,, AND THE TARIFF paid is still sitting in the U.S. Treasury. Won't be long until the country paying the tariffs will need to "cave in" to reasonable fair trade practices,, like NOT STEALING U.S. technology, what? just roll over and let them off the hook? Let them get away with unfair trade practices NOW and it'll NEVER GET FIXED once Trump is no longer President.
As said in a reply above, I don't need to buy one single item from Mexico or China. Can live the next 10 years w/o every owning a chinese or mexican item. Probably will be better off.
You do understand that the tariff is paid by the person or company that is importing the product and not the company or country that is exporting the product, do you not?
The taxes are paid by Americans and passed onto consumers when the product is retailed.
Typically there is a cascade effect as well, where the tariff raises all prices, particularly on commodities. One only need look at the mess that was the steel market following the enactment of tariffs last year. Domestic producers were raising their prices almost as much as the tariff.0
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