Trump adds 10% tariff to additional $200 Billion Chinese products


#41

I had to scroll up to check as i cant believe what you just posted here…here you have an anti capitalist rant about greed.

And in this same thread you posted:

Guess who pays those tariffs which are timed perfectly for Christmas shopping??The AMERICAN CONSUMERS!!!

Its a little…ummm…split personalities?..to scream about not having access to cheap chinese crap during xmas and decry the captialism that allowed for it as posts in the same thread, no?

“Down with capitalism until it threatens everything captialism gets for me!” Should be your new tagline


#42

Who transferred jobs overseas?

The global economy where the US allows virtually anyone to import into the US.

US businesses were forced to off shore to remain competitive, But you will never understand that.


#43

Here’s a little item of interest:

Repatriated profits total $465 billion after Trump tax cuts - leaving $2.5 trillion overseas

American companies have returned some of their profits held overseas after President Trump cut corporate taxes for the first time in 31 years, but most of their $3 trillion moneypot remains parked offshore.

The government on Wednesday said U.S.-based companies returned almost $170 billion in cash in the second quarter. Firms had returned $295 billion in first quarter.

Now $465 billion in “repatriated” cash is not exactly chump change. Yet it’s only about one-sixth of an estimated $3 trillion or more in profits that U.S. companies have parked overseas. President Trump said the tax law would result in $4 trillion being repatriated, generating more investment and jobs in the U.S.

The U.S. has made it more attractive for companies by establishing a tax of 15.5% for the onetime repatriation of cash. The tax for other noncash assets is even less at 8%.

By contrast, the tax rate on profits returned to the U.S. from overseas was a much higher 35% before Trump signed the first corporate tax cuts in 31 years.

The new tax law also requires U.S. parent companies to pay a one-time tax on their accumulated earnings held abroad.

While the new onetime tax rate is alluring, companies must juggle with a host of issues. For one thing, the Internal Revenue Service still hasn’t finalized rules on which profits fall under rubric of the repatriation tax.

Firms may want to keep much of their profits overseas because they plan to expand operations outside the U.S. in markets where sales are growing.

How it all plays out remains to be seen, but even without all the overseas profits returning home, the U.S. economy is booming.


#44

These are the evil canadian companies responsible for canadian car exports that need tk be squashed.

  • General Motors Canada, Canada’s largest automotive manufacturer, Canadian owned according to Ontario Superior Court Documents and the indirect Parent is the Detroit-based General Motors

Trumps policy is to undo this

Its be really funny if the third largest Canadian car manufacturer was Chrysler


#45

I say go for it. The gesticulations of economists over Trump have been mostly wrong, that I see no reason to listen to them now. So long as Trump works towards fair trade, which in the end is free trade, one has to fight fire with fire or be walked all over.


#46

The Ford Motor Company didn’t need the funds since it had already cut costs. But it asked to be included so it wouldn’t suffer by competing with subsidized companies.

And Chysler was given away to Fiat. The owner of the company took a bath.

And GM was a disaster, stockholders lost their investment, Bond holders took a bath.

The employees of Saturn, toast. The employees of Hummer, toast. The employees of Pontiac, Toast. 1600 dealerships out of business with an average of 50 employees, toast.
This is what happens when government gets involved in business.

And what the current administration is asking for is FAIR trade where the US isn’t taking a bath.

Perhaps you for the current situation where we have a trade deficit of over 600 billion a year. Do you understand the impact?


#47

Consider that foreigners bought $153 billion worth of American real estate in the FY 2016-2017—everything from New York penthouses to Nebraskan ranches. This has the negative downstream effect of increasing housing prices and rents.

Housing is 73 percent more expensive today in real terms than it was in 1973, and many young people can no longer afford homes in their own homeland. Likewise, even highly educated professionals are being priced-out of cities like San Francisco. By embracing free trade, Americans swapped “cheap goods” for high rents and big mortgages.

Is it worth it?

America also sells billions in equities , that is ownership of American corporations and the associated profits. As of 2017 foreigners owned roughly 38 percent of American equities, when including foreign direct investments foreign portfolio investments. This is up from just 12 percent in 2007, and the number is growing fast.

America pays for the rest of the deficit by selling debt. This is reflected in the endless growth of America’s public and private debt levels. Foreign investors own over 44 percent of America’s national public debt, valued at over $6.3 trillion. Foreign investors also own nearly 30 percent of all US corporate bonds, and a large percentage of America’s private debt.

As to the Chinese effect, corporate ownership provides a ready-made conduit for industrial espionage. Chinese have already leached trillions-worth of American technology and intellectual property via corporate takeovers and partnerships. That doesn’t;t take into account the technology transfer in manufacturing. China can now manufacture computers, printers, cell phones as we have transferred the technology. They no longer need Apple, HP or any American company.

Think about it, political independence cannot exist without economic independence. Too often economists forget that economics is not fundamentally about wealth. It’s about power. This is the real reason America needs tariffs.

It’s not just China, Canada, Mexico but a systemic problem. we are selling the core of this country for cheap imported Christmas junk. The question, do we wake up to the reality that our country is slipping away? When we reach the point of no return do we declare all foreign held assets null and void?

Just some things to ponder as some claim we need China, Canada, Mexico.


#48

I agree with you entirely, with the exception of one point. Tarrifs on manufactured goods work.
Tariffs on natural resources that we need as inputs do not work.

We produce in the range of 28 billion board feet of lumber…which is impressive, and we actually export higher quality lumber products other nations cannot produce. However we consume closer to 35 billion board feet. I can do the same math on most natural resources…we cannot produce enough aluminium, oil, uranium, steel, and quite a few other natural resources.

When a tariff works, we should see an increase in locally produced goods increase and a decrease in imports. I will focus on lumber because the numbers are a little more easy to find…but the Canadian lumber industry has actually exported more lumber to the US after the tariffs. Tariffs range between 16 and 25 percent, price increase in lumber in the US is around 30 percent since 2017. The reason for this is simple, we use more lumber than we produce…all the tariffs do is increase the price american consumers (and industry) pay.

When you look at the winners/losers of the us - canada lumber tariffs, we actually see canada is doing fine and come out relatively neutral as far as net gain and loss goes…we are still importing the majority of the lumber we need from them regardless of tariffs (which is a primary sign the tariff isnt working)

The winners? They tend to be our enemies…russia and china in particular.

The loser is us…american consumers of lumber are forced to pay more than they should by sourcing from other nations.

Canada is a special case in theae tariff wars.

-when only manufactured goods are considered, we run a trade surplus of 150 billion with the canuks.
-when we include our ownership of canadian industry, around 1/4 of the exports produced by canada is actually produced by us. If we simply track by profits, the trade surplus is around 50 billion total (and about a 175 billion surplus if you consider manufacturd goods only)

  • if you include tourism amd cross border shopping, we run a surplus with the canadians regardless of the poonts above.
  • Canadian import of american cars and trucks have increased around 6% per year since 2014.
  • we run a 24 billiom trade surplus in services with Canada.

Taken from the USTR stats site

U.S. goods exports to Canada in 2017 were $282.3 billion, up 5.8% ($15.5 billion) from 2016 and up 13.4% from 2007. U.S. exports to Canada are up 181% from 1993 (pre-NAFTA). U.S. exports to Canada account for 18.3% of overall U.S. exports in 2017.

When you take what you are saying and apply it to every other country, im in 100% agreeance with you. When it comes to Canada, i find myself heavily disagreeing with this stance. We need allies in theae trade wars…


#49

Todays round of tariffs will add considerably to the price of a home and it very well may result in amenities like granite and quartz counter tops being priced completely out of the starter home market.Floor tile and bathroom tile will also be going up in price along with autoparts and many other necessities of modern life.The tariff increases to prices can already be seen in how much washers and dryers have increased in price since tariffs were added to them several months ago.They are far exceeding any pay increase rank and file MIGHT have seen from the tax cuts for the wealthy.


#50

And what will the cost be to do nothing???

The trade deficit exceeds 600 BILLION a year.

How do you think the Chinese were able to purchase 1.3 trillion in US debt???


#51

You should write an essay entitled ‘i dont understand capitalism but love consuming anyway’…that way we can enjoy a collection of your contradictory rants in one simple place.


#52

4 sure. Even some college students are giving him credit for the economy thriving

even college students… blow me away!


#53

If we are not willing to suffer in the short term we will suffer long term. We have been putting up with the rip offs for a long time… Change is always painful


#54

The vast majority of those the Georgia Sec.of State has failed to regiter are African American citizens.


#55

Our government has to force people to register? Black people don’t vote because they don’t trust democrats


#56

Let me put the tariff issue into perspective for you. US industries are unable to compete in China because of China’s punitive tariffs on US goods


#57

We have had tariffs on Chinese goods for years tires 35%,leather shoes 37.5%,sneakers 48%,decorative glassware 38%,polo shirts 25%,wool clothes 25%,brooms 32% it goes on and on figures are from the USITC(United States International Trade Commission.


#58

SEPT. 26, 2010

Continue reading the main storyShare This Page

HONG KONG — Days after it flexed its economic muscle in a diplomatic dispute with Japan, Chinacontinued to display a more assertive international economic policy on Sunday as it imposed steep tariffs on poultry imports from the United States.

China’s commerce ministry announced on its Web site that it would impose import tariffs on American poultry of up to 105.4 percent. It said the tariffs reflected the result of its own antidumping investigation, which looked at whether the United States was harming China’s poultry industry by exporting chicken parts for less than it cost to produce them.


#59

Read the chart in the enclosed link and try educating yourself for once


#60

He , she, it just doesn’t;t get it.

China is famous for destroying the competition by dumping.

China dumped solar panels below cost and destroyed the US solar panel industry at great cost to the taxpayers. China destroyed our metals industry and now calls the shots.

China is now calling the shots in metals pricing

Huileng Tan| @huileng_tan

Published 6:36 PM ET Wed, 1 March 2017Updated 6:54 PM ET Sat, 4 March 2017

Destroying US jobs and screaming for their cheap junk.

And all the while they continue stealing US technology:

China inserted surveillance microchip in servers used by Amazon, Apple, report says

These people are out to lunch.