Would Donald Trump’s tariffs hurt US consumers?

[simple1]

During trump's prior presidency the US trade gap grew by hundreds of $billions, in other words his trade policy was a failure, yet ten of millions of Americans voted for trump 2024 to address economic issues.

 

Trump imposed a 50% tariff on imports of washing machines in 2018.

Researchers estimate the value of washing machines jumped by around 12% as a direct consequence, equivalent to $86 per unit, and that US consumers paid around $1.5bn extra a year in total for these products.

 

https://www.bbc.com/news/articles/c20myx1erl6o

[BKKKevin]

https://www.huffpost.com/entry/walmart-lowes-trump-tariffs-price-hikes_n_673e5e9fe4b09ddca792cd18

[frank83628]

1 hour ago, simple1 said:

During trump's prior presidency the US trade gap grew by hundreds of $billions, in other words his trade policy was a failure, yet ten of millions of Americans voted for trump 2024 to address economic issues.

 

Trump imposed a 50% tariff on imports of washing machines in 2018.

Researchers estimate the value of washing machines jumped by around 12% as a direct consequence, equivalent to $86 per unit, and that US consumers paid around $1.5bn extra a year in total for these products.

 

https://www.bbc.com/news/articles/c20myx1erl6o

I'm sure they saved more than $86 on cheap gas to cover the extra cost of a washing machine.

 

Seeing as you a not an American, why not say how Trumps tariffs effected you directly?

[Yagoda]

9 minutes ago, frank83628 said:

I'm sure they saved more than $86 on cheap gas to cover the extra cost of a washing machine.

 

Seeing as you a not an American, why not say how Trumps tariffs effected you directly?

Wow. You mean there are...trade offs? Like an extra 25% on the cheap chinese junk that floods our country and eggs back to .99 per dozen, on sale?

 

Bet ya Weather Tech is just salivating over tariffs  on cheap chinese floormats LOL. I hear they are hiring.

 

We have trillions of dollars of Liquid Gold here in North America, time to bank it.

[EveryG]

There are millions of non-leftists who think Trump is a joke. I'm very sure you are not able to actually engage in a discussion of tariffs because you are too busy putting people in simple categories to make a complicated world simpler for your 7 year old mind. 

[spidermike007]

Yes. Definitely. It is actually a large tax hike. It will hurt American companies and they will pass on the additional costs to consumers. It will likely restart a horrific inflationary cycle. 

 

This plan is dumb. Very, very dumb. The concept of bringing jobs back to America is a good one, and the concept of bringing manufacturing back to America is a good one. But it has to be applied with intelligence. You cannot just wish for this to happen and make it so.

 

It has to be done progressively and it has to be done correctly. Incentives need to be offered and costs need to be reasonable. There are many reasons why those jobs and why that production shifted overseas to begin with. 

 

Just look at Trump's example, he manufactures in China every opportunity he gets because the savings are there, and he's a money grubbing sort of guy. 

[frank83628]

13 minutes ago, spidermike007 said:

Yes. Definitely. It is actually a large tax hike. It will hurt American companies and they will pass on the additional costs to consumers. It will likely restart a horrific inflationary cycle. 

 

This plan is dumb. Very, very dumb. The concept of bringing jobs back to America is a good one, and the concept of bringing manufacturing back to America is a good one. But it has to be applied with intelligence. You cannot just wish for this to happen and make it so.

 

It has to be done progressively and it has to be done correctly. Incentives need to be offered and costs need to be reasonable. There are many reasons why those jobs and why that production shifted overseas to begin with. 

 

Just look at Trump's example, he manufactures in China every opportunity he gets because the savings are there, and he's a money grubbing sort of guy. 

What does trump get manufactured in China ?

[Yagoda]

2 minutes ago, frank83628 said:

What does trump get manufactured in China ?

His hats. Try to get a hat not made in China. Or flip flops.

 

If China wants to be the supplier of cheap plastic chairs to the world, go for it. All of the crap they turn out from two bit polluted "factories", let them have it.

 

But the good stuff is going to be made elsewhere.

[Yagoda]

1 hour ago, BKKKevin said:

https://www.huffpost.com/entry/walmart-lowes-trump-tariffs-price-hikes_n_673e5e9fe4b09ddca792cd18

The Huffington post is not a respected news outlet. 

[pattayasan]

The rationale is that there is balance between the cost of the tariffs and the resultant job creation that the tariffs stimulate. In the end what hurts the consumers is that the price for their purchases go up. In the short term, if consumers are forced to pay extra because they can't buy a local equivalent for less than the tariff. Price inflation occurs and consumers require higher wages to pay for their purchases. Higher wages pushes and entrenches the new price. If the tariffs create new demand for a workforce, one of two things has to happen. Either wages go up or immigrants are imported to fill the increased demand for workers to manufacture goods in the US. 

 

 

[simple1]

48 minutes ago, frank83628 said:

Seeing as you a not an American, why not say how Trumps tariffs effected you directly?

 

Cost the Australian economy $billions for supporting trump ideology regards PRC

[EveryG]

1 minute ago, pattayasan said:

The rationale is that there is balance between the cost of the tariffs and the resultant job creation that the tariffs stimulate. In the end what hurts the consumers is that the price for their purchases go up. In the short term, if consumers are forced to pay extra because they can't buy a local equivalent for less than the tariff. Price inflation occurs and consumers require higher wages to pay for their purchases. Higher wages pushes and entrenches the new price. If the tariffs create new demand for a workforce, one of two things has to happen. Either wages go up or immigrants are imported to fill the demand for works to manufacture goods in the US. 

Every country has ignorant people. But only in American can you find that toxic blend of ignorant and arrogant about their ignorance that is becoming a feature of the culture-that's what Trump has tapped into. I'm so glad I left 20 years ago. 

[Yagoda]

5 minutes ago, EveryG said:

Every country has ignorant people. But only in American can you find that toxic blend of ignorant and arrogant about their ignorance that is becoming a feature of the culture-that's what Trump has tapped into. I'm so glad I left 20 years ago. 

So are we. 

[Yagoda]

14 minutes ago, FritsSikkink said:

To understand that import taxes hurt the consumer has nothing to do with where you come from. More to do with education.

To understand that import taxes benefit the consumer when imposed as part of a comprehensive business plan shows real education instead of Leftist soundbites.

[frank83628]

14 minutes ago, simple1 said:

 

Cost the Australian economy $billions for supporting trump ideology regards PRC

Can you elaborate, I dont understand

[Yagoda]

13 minutes ago, simple1 said:

 

Cost the Australian economy $billions for supporting trump ideology regards PRC

We will be happy to give you to them if you like. They have your type of government: persecute minorities, suppress speech, seize firearms....

[FritsSikkink]

34 minutes ago, frank83628 said:

What does trump get manufactured in China ?

Caps and bibles, his daughter shoes.

[EveryG]

16 minutes ago, Yagoda said:

Wow. Bet you think you understand Thailand by going to Pattaya.

 

No one cares about European/Australian standards any more. About time you all recognize that you dance to our tune and that if you have something constructive to say as it relates to your country, then go for it, Im sure it will be the usual Leftie complaints.

 

But your comments about our domestic policy and the disrespect your lot show us deserves every drop of disdain I can muster up. If it wasnt for us you would be speaking Japanese. Say thank you.

Thank you for proving my point! There's that ignorance and arrogance I was talking about. Embarrassing. 

[FritsSikkink]

22 minutes ago, Yagoda said:

To understand that import taxes benefit the consumer when imposed as part of a comprehensive business plan shows real education instead of Leftist soundbites.

You have no clue, it doesn't benefit the consumer, it benefits USA companies who make the same products.

I am not left either.

[FritsSikkink]

35 minutes ago, frank83628 said:

What does trump get manufactured in China ?

Caps and bibles, his daughter shoes.

[Yagoda]

9 minutes ago, FritsSikkink said:

You have no clue, it doesn't benefit the consumer, it benefits USA companies who make the same products.

I am not left either.

And that consumer is the one hopefully working for the company that makes the same products. 

 

The fact that you just tried to slur capitalism shows your politics. Either own it or rethink it.

[bunnydrops]

9 minutes ago, FritsSikkink said:

Caps and bibles, his daughter shoes.

Don't stop there

https://www.presidency.ucsb.edu/documents/rubio-campaign-press-release-donald-trump-proudly-outsources-jobs-china-mexico-other

[Yagoda]

23 minutes ago, EveryG said:

Thank you for proving my point! There's that ignorance and arrogance I was talking about. Embarrassing. 

Thanks. I consider the source. Sort of like the flea biting an elephant.

[Patong2021]

The tariffs are intended to get the attention of the countries who trade with the USA. In some cases, the USA is quite right to threaten the use of tariffs. Mexico has willingly facilitated China's export strategy, exploiting the US/Canada/Mexico trade pact hurting both Canada and the USA. However, if the USA imposes an across the board 10% tariff, it will hurt the US economy and will have some serious immediate damage to key Republican strongholds.This would translate into an absolute rout of the Republicans in two years at the midterm election.

 

 Just as the USA is free to attach tariffs, so to can other countries like Canada. 30+ US states have Canada as their largest market and some Republican states are dependent upon Canadian trade. Canada can choose to purchase more produce from its latin American trade partners, or make a push to expand trade with its APEC trade partners.  The EU will present a united front and will retaliate.

Tariffs are easier said than done. The USA is dependent upon some countries for critical imports.  Critical Minerals are one example;

 

 

 

 

 

 

1 hour ago, Yagoda said:

Wow. You mean there are...trade offs? Like an extra 25% on the cheap chinese junk that floods our country and eggs back to .99 per dozen, on sale?

Bet ya Weather Tech is just salivating over tariffs  on cheap chinese floormats LOL. I hear they are hiring.

We have trillions of dollars of Liquid Gold here in North America, time to bank it.

 

The USA does not have trillions of dollars of liquid gold that it can sell. According to the U.S. Energy Information Administration (EIA) 64% of total U.S. crude oil production in 2023. came from tight oil, i.e fracking of shale. This has tremendous  environmental consequences  for the USA, in particular to US agriculture. Fracking requires large amounts of water and many regions just don't have it to spare. 

It is a pipe dream to assume that manufacturers will move the manufacturing of cheap consumer items to the USA. They are labour intensive. US consumers who vote for Trump are going to be upset if the mop at walmart that once cost $10, now costs $20.

Oh sure, eggs might be cheap, but the new Secretary of Health may not support that strategy. The use of chemicals. antibiotics and growth hormones to produce bigger farm animals might no longer be allowed and poof goes your factory egg farms.

 

[BKKKevin]

1 hour ago, frank83628 said:

What does trump get manufactured in China ?

I belive the bibles he hawks to his gullible followers are made in China... 

[Yagoda]

4 minutes ago, Patong2021 said:

The tariffs are intended to get the attention of the countries who trade with the USA. In some cases, the USA is quite right to threaten the use of tariffs. Mexico has willingly facilitated China's export strategy, exploiting the US/Canada/Mexico trade pact hurting both Canada and the USA. However, if the USA imposes an across the board 10% tariff, it will hurt the US economy and will have some serious immediate damage to key Republican strongholds.This would translate into an absolute rout of the Republicans in two years at the midterm election.

 

 Just as the USA is free to attach tariffs, so to can other countries like Canada. 30+ US states have Canada as their largest market and some Republican states are dependent upon Canadian trade. Canada can choose to purchase more produce from its latin American trade partners, or make a push to expand trade with its APEC trade partners.  The EU will present a united front and will retaliate.

Tariffs are easier said than done. The USA is dependent upon some countries for critical imports.  Critical Minerals are one example;

 

 

 

 

 

 

 

The USA does not have trillions of dollars of liquid gold that it can sell. According to the U.S. Energy Information Administration (EIA) 64% of total U.S. crude oil production in 2023. came from tight oil, i.e fracking of shale. This has tremendous  environmental consequences  for the USA, in particular to US agriculture. Fracking requires large amounts of water and many regions just don't have it to spare. 

It is a pipe dream to assume that manufacturers will move the manufacturing of cheap consumer items to the USA. They are labour intensive. US consumers who vote for Trump are going to be upset if the mop at walmart that once cost $10, now costs $20.

Oh sure, eggs might be cheap, but the new Secretary of Health may not support that strategy. The use of chemicals. antibiotics and growth hormones to produce bigger farm animals might no longer be allowed and poof goes your factory egg farms.

 

Nice Leftist talking points.

 

Are you forgetting ANWAR btw? 11 billion barrels, at the least. Enough to pump out down the existing pipeline at full capacity for 35 years in an environmentally safe fashion? Continually opposed by the Leftists to weaken America and capitalism? You know, that place up North?

[FritsSikkink]

21 minutes ago, Yagoda said:

And that consumer is the one hopefully working for the company that makes the same products. 

 

The fact that you just tried to slur capitalism shows your politics. Either own it or rethink it.

Consumer still has to pay the higher price.

I don't slur capitalism, I am teaching you how economics work.

I have done a lot of international trade, owned several businesses. My wife owns several businesses.

What have you done besides being a parrot for Trump?

[bubblegum]

1 hour ago, Yagoda said:

To understand that import taxes benefit the consumer when imposed as part of a comprehensive business plan shows real education instead of Leftist soundbites.

Clearly you know nothing on economics.

[mogandave]

5 minutes ago, bubblegum said:

Clearly you know nothing on economics.

Why do you say that? You don’t sound like you know anything about it.

[mogandave]

16 minutes ago, FritsSikkink said:

Consumer still has to pay the higher price.

I don't slur capitalism, I am teaching you how economics work.

I have done a lot of international trade, owned several businesses. My wife owns several businesses.

What have you done besides being a parrot for Trump?

It’s the same with corporate income taxes, the consumer has to pay them. 

 

But you’re all for higher corporate income taxes, yes?