Would Donald Trump’s tariffs hurt US consumers?

[mogandave]

50 minutes ago, bubblegum said:

Because one cannot explain anything to your lot when the explanation means that Trump is wrong.

You’re a phony. 

 

It has nothing to do with Trump. It is simple economics. 

 

You  claimed that tariffs will increase consumer prices. 

 

You also claimed that raising corporate income taxes will not increase consumer prices. 

 

Both of those claims cannot be true. 

 

All you can do is regurgitate, you have no understanding, and cannot explain anything, yet you fancy yourself bright. 

 

 

 

[mogandave]

11 minutes ago, rudi49jr said:

Of course tariffs are going to hurt the consumer, it doesn’t take a mastermind to figure that out. Who do you think is ultimately going to pay for that 10-20-50% price hike? 

The same people that will pay for higher corporate income taxes. 

 

[Rimmer]

Some troll posts and a personal attack have been removed

@Yagoda

[newbee2022]

Sure. Prices are going up, same as inflation.

But GURUs Don and Elon will know better

[AndreasHG]

4 hours ago, frank83628 said:

What does trump get manufactured in China ?

 

Here is Marco Rubio's 2016 press release on the topic: Rubio Campaign Press Release - Donald Trump Proudly Outsources Jobs To China, Mexico & Other Countries | The American Presidency Project

 

And yes, also Trump's 'God bless the USA' Holy Bible was printed in China, according to a number of sources including Fox61 Yes, Trump-branded ‘God Bless the USA’ Bibles were made in China | fox61.com

 

[bubblegum]

44 minutes ago, mogandave said:

You’re a phony. 

 

It has nothing to do with Trump. It is simple economics. 

 

You  claimed that tariffs will increase consumer prices. 

 

You also claimed that raising corporate income taxes will not increase consumer prices. 

 

Both of those claims cannot be true. 

 

All you can do is regurgitate, you have no understanding, and cannot explain anything, yet you fancy yourself bright. 

 

 

 

First of all I never claimed raising corp tax will not increase prices. I claim tariffs do. Simple economics. A tariff is a tax who pays the tax? The consumer. You keep on throwing corporations into the equation which show you have absolutely no understanding whatsoever of what you're talking about.

 

The fact that you do not understand this simples manner is beyond me.

 

 

[Chosenfew]

6 hours 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

Give it a break, you lost, get over it. Does DJT live in your head?

 

[Bruce1054]

Stop Posting this <deleted> and get a life

[EveryG]

2 hours ago, Yagoda said:

The consumer pays the price he is willing to pay for the product he wants to buy. Far more than company profits goes into the price calculation for the consumer. The cost to the consumer of a tariff would be lessened by the reduction in cost of the good subject to tariff in addition to the overall economic gain to the consumer by competition, manufacturing shifts, transportation costs, cutting of fees and regulations, tax cuts........

This is the dumbest thing I've read all day, and I have read quite a few of your posts today.

 

3 hours ago, Yagoda said:

Leftism is an ideology which has as its underlying philosophy the good of the collective in a utopian framework based on a (false) determination of human nature, with such Utopia to be achieved by the destruction of those who oppose it.... Democracy is incompatible with Socialism, since Democracy requires free thought.

The way it's used by MAGAs, Leftist means anyone who is not fully onboard the MAGA train. That you don't see the irony in your first sentence is not surprising, but that you don't even understand that tariffs are a completely "socialist" action is just pathetic. You MAGAs run around calling everyone else socialists, but obviously you have no idea what socialism while you are here defending it. 

 

I am against tariffs because I'm a capitalist with a libertarian bent who is in favor of free trade without encumbrance by governments. Tariffs are a simpleton way of putting on appearances that always backfires. This used to be a Republican position, but now they have gone the way of nonsense. 

[Red Forever]

5 hours ago, Yagoda said:

Yep, here we go, looks like a new group of Leftist bots coming to insult folks. 

 

Is that you, Danderman?

Says the poster, who multiple times daily, posts abusive insults against anyone who dares to post facts which put his/her hero in a bad light.

 

Is that you susanlea?

[Red Forever]

5 hours ago, frank83628 said:

What does trump get manufactured in China ?

How about bibles, sneakers.....

[WDSmart]

Trump's suggested tariffs would hurt not only US consumers but also citizens in the country where the tariffs were imposed. 

[mogandave]

38 minutes ago, bubblegum said:

First of all I never claimed raising corp tax will not increase prices. I claim tariffs do. Simple economics. A tariff is a tax who pays the tax? The consumer. You keep on throwing corporations into the equation which show you have absolutely no understanding whatsoever of what you're talking about.

 

The fact that you do not understand this simples manner is beyond me.

 

 

So we agree that raising  corporate income taxes would increase consumer prices, yes? 

 

I have never claimed that tariffs would not increase prices on imported goods, they generally will. 

 

Just like mass deportations will drive up wages, increasing prices, yes?

[bubblegum]

Just now, mogandave said:

So we agree that raising  corporate income taxes would increase consumer prices, yes? 

 

I have never claimed that tariffs would not increase prices on imported goods, they generally will. 

 

Just like mass deportations will drive up wages, increasing prices, yes?

Here you go again with corporate tax. Apples and pears. Deportations yes.

[Yellowtail]

9 minutes ago, WDSmart said:

Trump's suggested tariffs would hurt not only US consumers but also citizens in the country where the tariffs were imposed. 

How will it hurt the citizens in the country the tariffs are imposed on? 

[mogandave]

3 minutes ago, bubblegum said:

Here you go again with corporate tax. Apples and pears. Deportations yes.

Why can you not admit it? 

 

How is it apples and pears? 

 

Tariffs are taxes corporations pay, that are passed on to the consumer. 

 

Income taxes are taxes corporations pay that are passed on to the consumer. 

 

The only real difference, is that tariffs benefits domestic manufacturers, while corporate income taxes benefit foreign manufacturers. 

 

 

[spidermike007]

6 hours ago, frank83628 said:

What does trump get manufactured in China ?

WALLACE: "But this brings up the point, the conservative American Enterprise Institute says, look, Donald Trump, he owns a dozen hotels, properties, all over the world. Your Trump Collection clothing line, some of it is made in Mexico…" TRUMP: "It's true." WALLACE: "…and China." TRUMP: "That's true. I want it to be made here." (Fox's "Fox News Sunday," 10/18/15)

 

"[The Trump Store was] selling $80 Trump-branded cotton sweaters and $70 Trump-branded warm-up tops, all made in China. Also available with the made in China tag: golf hats stamped with the Trump crest and stuffed animals. Visitors also could buy leather made-in-China belts priced at $45 that are advertised as 'So soft, it feels like a million bucks.' And in the display case were neat stacks of colorful Trump-branded polo shirts that would be perfect wear for one of Trump's golf courses. The shirts, which sell for $70, were not made in China, but nearby, in Korea and Thailand. … All the Trump tie pins ($22) and tie clips ($28) are labeled as 'Made in China,' as are the cufflinks ($35 to $45 a pair) and even the boxes containing them." (ABC News, 4/28/11)

 

The list goes on and on, make America great again baseball caps are made in China, his Bibles are made in China, his watches likely Switzerland, the list just goes on and on and on.

 

The question is, does Donald Trump make anything in America? I doubt it. Hypocrisy of the highest order. 

 

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

Edited 25 minutes ago by spidermike007

[Yellowtail]

3 minutes ago, spidermike007 said:

WALLACE: "But this brings up the point, the conservative American Enterprise Institute says, look, Donald Trump, he owns a dozen hotels, properties, all over the world. Your Trump Collection clothing line, some of it is made in Mexico…" TRUMP: "It's true." WALLACE: "…and China." TRUMP: "That's true. I want it to be made here." (Fox's "Fox News Sunday," 10/18/15)

 

"[The Trump Store was] selling $80 Trump-branded cotton sweaters and $70 Trump-branded warm-up tops, all made in China. Also available with the made in China tag: golf hats stamped with the Trump crest and stuffed animals. Visitors also could buy leather made-in-China belts priced at $45 that are advertised as 'So soft, it feels like a million bucks.' And in the display case were neat stacks of colorful Trump-branded polo shirts that would be perfect wear for one of Trump's golf courses. The shirts, which sell for $70, were not made in China, but nearby, in Korea and Thailand. … All the Trump tie pins ($22) and tie clips ($28) are labeled as 'Made in China,' as are the cufflinks ($35 to $45 a pair) and even the boxes containing them." (ABC News, 4/28/11)

 

The list goes on and on, make America great again baseball caps are made in China, his Bibles are made in China, his watches likely Switzerland, the list just goes on and on and on.

 

The question is, does Donald Trump make anything in America? I doubt it. Hypocrisy of the highest order. 

 

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

So, he is imposing tariffs on his own products, yes? 

 

 

 

 

[WDSmart]

12 minutes ago, Yellowtail said:

How will it hurt the citizens in the country the tariffs are imposed on? 

It would increase the cost of exporting those goods to the USA. That would reduce the profits of making and exporting those goods. That would either cause the goods to be sold at a lower price or lower the demand for the goods. Either of those would affect the economy of the country and would probably result in a reduction in the workforce of that industry. 

I am not an economist, so all this is just my thinking and resulting opinions on this subject. 

[MicroB]

3 hours ago, mogandave said:

You can make the same argument for mass immigration. Drives wages down, reducing prices for consumers. 

 

 

 

Not always. What happens to average Thai wages if Thailand decided to start handing out work permits/visas for Farang?

 

In reality, Thai managers won't be able to see massive pay rises because Cleetus from Mobile, Dirk from Groningen or Paul from Newcastle gets their £100k PA job transferred to the Bangkok office.

 

Mass immigration might be one of the drivers for wage inequality, but is not the only one, and might not even anywhere near the most important. Sandeep arrives from India in the bright lights of London, and he gets a job emptying the bins for an office cleaning company which wins a competitive bid from a PLC in the City because they are paying mostly immigrant employees a wage much closer to the minimum wage than their competitors. There is a saving to the PLC which helps them reduce costs, contributing to the bottom line, and nudging everyone over the line for those bonuses. PLC employee wages go up because of Sandeep. Of course Wayne the bloke who got thrown out of school at 14 for sniffing glue, still can't anything better than cleaning skips for cash in hand.

 

Rohit is an engineer with some experience. In India, his wage is £6000 a year, which is pretty decent there, but he thinks the UK offers more opportunities. His boss in India keeps telling him the grass isn't always greener, but Rohit is young, got a new wife and baby, and he spends a lot of time on Tiktok, looking at amazing snow and cars. He get a visa sponsor. He attends interview for a graduate engineer, advertised as starting at £45,000 depending on experience, which seems like a King's Ransom to him. He doesn't have quite as much experience as the other candidates. He comes out with out during the interview, he'll take the job for £10,000 a year. Does he get the job, driving down wages? No. What is happening is the UK company sets up an office in Bangalore, and employs all the CAD engineers they need there. Now the savings aren't really 1/10th of the wage cost, because they seem to need to employ twice as many people  there, on shifts, because of the time difference. They design clever stuff that is manufactured in the UK by an additive process that is pretty automated. Normally those engineers would be a £60 PH overhead in the UK, now that's reduced to £20PA, taking account of the rented office in India, and that they need to have a travel budget so that some of the managers can swan out there every now and then.

 

Wage growth is complex. There was this idea at one time of "trickle down" economics; Elon Musk now being a trillionaire (or close to it) makes you richer. It doesn't; its a garbage idea that the Oligarchs in Russia made the lives of ordinary Russians better because they became richer and brought more Bentleys. I think the opposite is also equally untrue; capillary economics, the idea that poor immigrants make other people poorer. No, what happens is you have a lot more people less well off than you.

 

Where mass immigration can cause stress is on public services, and that is down to the humanity of the society. there is increased demand on education, healthcare. A society can be inhumane and stop migrants sending their kids to school, or, in the case of a publicly funded healthcare system, let them die in the streets, Or in the case of Farang managers in Thailand, make them send their Farang kids to an expensive international school, and take out private healthcare insurance.

 

When Sandeep the cleaner is stopped from coming to the UK, the cleaning company doesn't turn to the semi-literate Wayne to start cleaning the Boardrooms. They invest in a few of those cleaning robots, made in China, designed by engineers in Bangalore, working for a Newcastle based start up selling whizzy AI enabled cleaning robots. Which had received a generous innovation grant from the government as an example of 21st Century Britain, taking on the world, after they won the contracts to sell robot cleaners to Bangalore airport, a stunning "export" win, given the airport had seen massive increases in passenger traffic.

 

The Industrial Revolution had casualties. It lead to high level industrial espionage and mass infringement of patents to enable a cotton industry to be established in the nascent United States with its Revolutionary Government, who had recently inspired very bloody regicide in France. The Americans, as they called themselves, needed stolen technologies (Samuel "Slater the Traitor" Slater  who stole the secrets to Richard Arkwright’s transformational “water frame” technology of cotton spinning) to make the mass slave trade much more profitable (picking cotton). It was ok, because 2 generations later, it fueled a rise in American innovation, beating that of Europe. Britain was cotton king (and sugar king) was no longer so, but that was ok, because they had made a ton of cash, and 200 years later became a service based economy, hardly affected by threats of tariffs. Not much of a navy, but then, the tea clippers,  anti-slavery patrols, were just a distant memory.

 

There is a Digital Revolution, and there will be casualties. And beneficiaries. There is an alternative, called Ludditism.

 

A restriction on immigrants won't in itself cause an increase in employment rates. Jobs will still move overseas. There is not an easy solution, but people will offer easy sounding solutions. They always will because they need your vote, but not always have your interests at heart.

[Yellowtail]

6 minutes ago, WDSmart said:

It would increase the cost of exporting those goods to the USA. That would reduce the profits of making and exporting those goods. That would either cause the goods to be sold at a lower price or lower the demand for the goods. Either of those would affect the economy of the country and would probably result in a reduction in the workforce of that industry. 

I am not an economist, so all this is just my thinking and resulting opinions on this subject. 

You do not need to be an economist, and you are mostly correct, except that it's the import cost that increases, not the export cost.

[Dave0206]

3 hours ago, Yagoda said:

The more the Left screeches and howls, the more they will turn off the electorate, especially as their tricks and horrific mcost of their policies are exposed. Meanwhile, take a look at the young Republican bench, and right now, nobody is beating JD Vance. All he has to do is be productive. Business will see that, at least the smart ones. Put that made in USA on that package, Id pay $1 or 2 more anyday

Made in usa is a great idea except for the fact you're party blocks the minimum wage at every stage I know it's a terrible lefty thing expecting companies to pay a living wage better to let them pay peanuts and get subsidised by workers relying on food stamps

[MicroB]

Ferris Bueller's teacher had a point. Its a good idea to pay attention in class, you might learn something.

 

 

https://corporatefinanceinstitute.com/resources/economics/smoot-hawley-tariff-act/