China will impose a 34% tariff on all imports from the US starting April 10

[FriscoKid]

This trade war Trump started is one of the most boneheaded economic blunders in modern history. In retaliation the Chinese are now slapping a 32% sales tax on all U.S. products sold in China. That’s not “tough on China,” that’s self-inflicted damage, crippling some of America’s biggest tech and car companies and agricultural exporters in one idiotic move.

 

And spare us the fantasy about bringing manufacturing back to the U.S. As if factories magically pop up overnight. It takes years to set them up, train people to work in them, and even then, the U.S. supply chain still relies heavily on importing raw materials. Combine that with higher labor costs of manufacturing in America, and guess who ends up footing the bill? The American consumer.

 

So whether you’re paying inflated prices due to tariffs on imported goods or jacked-up costs on domestically produced ones, the result is the same, Americans lose. The only “winner” here, if you can even call it that, is the U.S. government raking in more tax revenue at the expense of the consumer. This isn’t economic strategy, it’s political buffoonery and the American people are the ones paying the price.

[flyingtlger]

Trump says, "I think I'm turning Chinese"!!!

 

[FriscoKid]

China has also suspended chicken products imports from two American producers, part of retaliatory measures against the US after President Donald Trump announced new tariffs on the Asian nation. 

China is halting poultry imports from Mountaire Farms of Delaware, Inc. and Coastal Processing, LLC, to safeguard consumers’ health after detecting banned drugs in US chicken products many times, according to a statement on the website of General Administration of Customs. 

 

The customs administration has also moved to suspend the qualification of C&D (USA) Inc. for supplying sorghum to China, citing quarantine reasons, according to a separate statement posed on its website. 

 

Shipments of poultry meat and bonemeal, used as animal feed, from three US suppliers: American Proteins Inc., Mountaire Farms of Delaware Inc., and Darling Ingredients Inc., are also suspended.

 

[Tug]

Heck we are still paying the farmers he burned last time he was in office destroying their markets rember anyone?I sure do.

[scubascuba3]

this is an additional 34%? already 67%

[Jim Blue]

Over to you Donny ..... 

[henryford1958]

1 hour ago, FriscoKid said:

This trade war Trump started is one of the most boneheaded economic blunders in modern history. In retaliation the Chinese are now slapping a 32% sales tax on all U.S. products sold in China. That’s not “tough on China,” that’s self-inflicted damage, crippling some of America’s biggest tech and car companies and agricultural exporters in one idiotic move.

 

And spare us the fantasy about bringing manufacturing back to the U.S. As if factories magically pop up overnight. It takes years to set them up, train people to work in them, and even then, the U.S. supply chain still relies heavily on importing raw materials. Combine that with higher labor costs of manufacturing in America, and guess who ends up footing the bill? The American consumer.

 

So whether you’re paying inflated prices due to tariffs on imported goods or jacked-up costs on domestically produced ones, the result is the same, Americans lose. The only “winner” here, if you can even call it that, is the U.S. government raking in more tax revenue at the expense of the consumer. This isn’t economic strategy, it’s political buffoonery and the American people are the ones paying the price.

 

These are fair points but what is America supposed to do - accept that countries like China will dump heavily subsidized goods on their market and/or accept the tariffs other countries place on American goods. No country can continue with the massive trade imbalance that the USA (and UK) has.

[JimHuaHin]

Come on China, make it 345%.

[harada]

Those pesky Chinese, they just don’t understand the art of the deal.

[Jeff the Chef]

I wonder what would happen if all these countries getting tariffed just stopped all exports/imports to/from America?

[rough diamond]

33 minutes ago, harada said:

Those pesky Chinese, they just don’t understand the art of the deal.

Neither does Trump!

[Tug]

44 minutes ago, harada said:

Those pesky Chinese, they just don’t understand the art of the deal.

Actually I think they do and they are playing him like a fiddle 

[NorthernRyland]

3 hours ago, FriscoKid said:

This trade war Trump started is one of the most boneheaded economic blunders in modern history. In retaliation the Chinese are now slapping a 32% sales tax on all U.S. products sold in China. That’s not “tough on China,” that’s self-inflicted damage, crippling some of America’s biggest tech and car companies and agricultural exporters in one idiotic move.

 

 

The Trump admin is filled with WWII era heads and they have this idea China is an existential threat to the US. I bet they would love to get in a full scale war with China if they could.

[NorthernRyland]

2 hours ago, henryford1958 said:

These are fair points but what is America supposed to do - accept that countries like China will dump heavily subsidized goods on their market and/or accept the tariffs other countries place on American goods. No country can continue with the massive trade imbalance that the USA (and UK) has.

 

It's a real problem. Even if the tariffs are successful that means factories come back to the US and will now prices will be who knows how much higher. If the tariffs fail then all prices are 34% higher.

 

The best scenario is a transfer from Chinese labor to American labor and increased prices for goods. There's no clean win-win here.

[placeholder]

Prices wouldn't be 34% higher on all goods that were imported. Maybe they would be that or close to that on finished goods that were delivered to the US. But a lot of the stuff from China consist of inputs like parts in raw materials. So in those cases it really depends on how much of the value of the finished product comes from those raw materials or parts. Trying to could of course deny US access to some of those raw materials like rare earth elements. I believe it also dominates in the supply of antimony which is essential for manufacturing high explosives.

[black tabby12345]

2 nations headed by Idiots.

Now sharing something in common.

Same Idiotic Policy...

 

 

[Yagoda]

Guess my T-shirt budget needs to increase.

 

I hope that toenail clippers arent tariffed.

[BigBilly]

2 hours ago, scubascuba3 said:

this is an additional 34%? already 67%

The only place it's currently 67% is in Trump's head.  

 

Those percentages Trump made up were based on the trade deficit, and had nothing to do with the tariff rate.

[black tabby12345]

3 hours ago, flyingtlger said:

Trump says, "I think I'm turning Chinese"!!!

 

 

 

DT, the first president of USA, with triple nationalities(another, Rus).

 

[NoDisplayName]

7 minutes ago, BigBilly said:

The only place it's currently 67% is in Trump's head.  

 

Those percentages Trump made up were based on the trade deficit, and had nothing to do with the tariff rate.

 

Those percentages were manufactured goods.  Conveniently left out the services part where the US enjoys a surplus.

[BLMFem]

8 hours ago, Jim Blue said:

Over to you Donny ..... 

Don't bother him, he's playing golf.