Franklin
Recycles dryer sheets
Besides hammering the stock market, has anyone seen first hand the effects of tariffs? Ive read a list of products that might be affected but have not seen how this effects the cost. Anyone with examples?
Any examples of Tariff's beginning to hit home?
- Thread starter Franklin
- Start date
marko
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 16, 2011
- Messages
- 8,426
The only immediate effect I see is that there are bargains in the market.
I'm not sure, but I think it could take a few weeks before we'd see it at the retail level. By then, IMO, it will be resolved.
IIRC, the tariffs are going from 10% to 25% on some items...so it's not a 25% increase, more like 15%.
I'm not sure, but I think it could take a few weeks before we'd see it at the retail level. By then, IMO, it will be resolved.
IIRC, the tariffs are going from 10% to 25% on some items...so it's not a 25% increase, more like 15%.
MRG
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Apr 9, 2013
- Messages
- 11,078
Canopy Growth is down almost 8 percent today......
skipro33
Thinks s/he gets paid by the post
NBC news reported it will cost the average family about $750 a year in added costs. I think the stock market is way over reacting and it's going to provide some good bargains. The Chinese just can't afford to let their inventory pile up and it will if they don't capitulate soon. They have tariffs on US goods for many years and we had none. This will hopefully provide some negotiating room for US to straighten out the trade deficit with them.
One of the nice things about being older is that I am not outfitting a home like younger folks are. I have all my appliances, don't need much new clothing or any other of their products for at least a year or so. Agriculture will find new markets and that will really hurt the Chinese when they are ready to sit back down at the neg. table.
One of the nice things about being older is that I am not outfitting a home like younger folks are. I have all my appliances, don't need much new clothing or any other of their products for at least a year or so. Agriculture will find new markets and that will really hurt the Chinese when they are ready to sit back down at the neg. table.
njhowie
Thinks s/he gets paid by the post
- Joined
- Mar 11, 2012
- Messages
- 3,931
The only thing that has been moving the market higher for the past couple months is the continual promises that the China trade deal was near. It's not an overreaction at all. It turned out to all be a bunch of nonsense. "I received a beautiful letter..." and 24 hours later all bets are off with new tariffs in place. Come on.
As I understand it, 18% of Chinese exports went to the US in 2018. I'm sure tariffs will have an impact but I'm afraid that the days of China depending entirely on exports to the US for its growth are long past. We may not have as much leverage as we think we do.
Another interesting tidbit re agriculture. China's agricultural imports in 2017 totaled 124 billion dollars. The US sent 24 billion of that or 19% of total Chinese imports (interestingly China Purchased an equal amount from Brazil in that year). It seems to me that China will have no difficulty purchasing from Brazil, Argentina, Canada, Australia and so on and the danger of course is that this loss of the Chinese market for our farmers will then become a permanent one as China finds other, more reliable trading partners. It has been mentioned in the news that the US taxpayer then will make up for this loss of a market via government subsidies to farmers. I'm sure that our farmers would much rather sell their products legitimately rather than subsist from the public dole.
OP
OP
Franklin
Recycles dryer sheets
Good point.
frayne
Thinks s/he gets paid by the post
The US may not have the upper hand many think. Plus throw into the equation Chinese president Xi doesn't have to worry about democratic elections. Should be an interesting ride and it is a pretty common consensus among economists that tariffs and trade wars are not good for economies.
Bamaman
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It's hard to figure out what would happen in the long run. Much of the stuff coming in from China we can live without. The food the U.S. is sending into China is really, really needed.
I just fear the stubbornness of the Chinese government. They don't want to lose face.
I just fear the stubbornness of the Chinese government. They don't want to lose face.
That is a very good point. Please correct me if I'm wrong but it seems to me that the forced technology transfer only occurs when one of our companies wants to build something in China in order to have access to their cheap labor and facilities so that our company can make more money. Then the Chinese force us to give them (or steal) our technology. So if our company doesn't build something in China, there is no possibility of forced technology transfer isn't that so?
On the theft of intellectual property I think you are entirely correct and the Chinese have shown they are very adept at that ( as are the Russians)
The Chinese economy is centrally controlled to a far, far higher degree than the US economy. They can do whatever they like for longer than any US President can be in office.
Not to mention what they could do with the US debt they own...
That's not what the soybean farmers are saying these days. The Chinese have already found other sources of soybeans and wheat. They may never need to purchase US soybeans again.
Last edited:
It's due to lack of focus.
The administration started this "war" due to the perceived badness of the trade deficit. They only added the IP theft issue when they got push back from some former free-trade Republicans to add cover to their reasoning.
Unfortunately for us the food the Chinese need can be purchased from Brazil, Argentina, Canada, Australia, etc, as they have been doing since the trade war started.
As to your second point, I agree, the Chinese have elected in their 3+ millennia past to give the rest of the world the middle finger on multiple occasions, damn the consequences.
Markola
Thinks s/he gets paid by the post
Up here in Minnesota we have soybean farmers who indicate in the media that they are hurting. I’m certainly not hearing farmers demanding “more trade war.” We also have a successful snowmobile and motorcycle manufacturing company called Polaris. It buys parts from China and is claiming to face a loss of one third of net revenue due to increased steel prices and is saying it will have to ship jobs to Mexico if it can’t get an exemption from the tariffs.
https://www.cnbc.com/2019/05/07/pol...-tariff-raises-catastrophic-for-business.html
https://www.cnbc.com/2019/05/07/pol...-tariff-raises-catastrophic-for-business.html
There are 194 pages of items affected by the tariffs. https://ustr.gov/sites/default/file..., as amended and modified by 83 FR 49153).pdf
But few people compare prices closely enough to know the specific impact on the items they are purchasing.
I can never remember what I paid last time I purchased "Dogfish and other sharks, fresh or chilled", for example. So when I purchase more, I won't be able to relate how much more I am contributing to this "war".
The same goes for "Camshafts and crankshafts for use solely or principally with spark-ignition internal combustion piston or rotary engines". I'm sure it will cost more, but that cost will be hidden in with the other increased costs of the 2020 car around it.
And so it goes... for 194 pages of increased costs to the American consumer.
If you think you can completely avoid the impact of these increases, you are wrong. If you think you won't notice any specific item increase, you are probably right. But you'll probably also complain that "everything just gets more expensive".
The only way to win is not to play.
easysurfer
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 11, 2008
- Messages
- 13,151
My thoughts exactly. Chinese president Xi could wait it out for a possible regime change in the US in less than two years. In the meantime, regular folks feel the pinch one way or another
.Montecfo
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The Chinese have far more to lose than we do. But no surprise, they are not giving up easily.
Americans should not be hoping for a "quick end" end to the trade war, in my view. They should be hoping for a real resetting of our trade relationship with China. This is not to benefit farmers in a couple of quarters, but future generations.
Americans should not be hoping for a "quick end" end to the trade war, in my view. They should be hoping for a real resetting of our trade relationship with China. This is not to benefit farmers in a couple of quarters, but future generations.
OP
OP
Franklin
Recycles dryer sheets
My thoughts exactly. Chinese president Xi could wait it out for a possible regime change in the US in less than two years. In the meantime, regular folks feel the pinch one way or another
OK another interesting question....who is exactly paying the bill when we import these goods. Seriously, does the manifest say (tariff charge 25%?). Lets assume the US buyers pays this.....so where is all this new tariff tax money going? Any accounting for that....it must be large?
easysurfer
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 11, 2008
- Messages
- 13,151
I think either the business eat some of the costs or gets passed on to consumers.
Was watching a news program this morning. Segment said there is price gouging going on. For example tariff on washing machine. Prices of dryers went up too, despite no tariff on dryers.
skipro33
Thinks s/he gets paid by the post
The hurt isn't going to be this tariff war, the hurt has been on us for a long time due to huge trade deficit between US and China. The can has been kicked down the road until now. In 2018 China imports totaled almost $540 Billion compared to $120 Billion of US exports. The US exports have always been subjected to tariffs in China with almost none on Chinese imports. In an attempt to negotiate those Chinese tariffs, the current administration realized we have nothing to bargain with, so tariffs were introduced. The ultimate goal is to eliminate tariffs altogether, but first we have to have something to bargain with.
When the initial tariffs were put in place we had gotten a quote to have metal fencing installed. After installation the landscaper mentioned that the cost of the fencing had significantly increased due to the tariff and he hadn’t realized it so basically ate the cost of the increase in his labor.
