Trump finally acknowledges his tariffs could hit consumers

Jul 2014
69,029
58,542
CA
#1
Trump has repeated the same mantra for months: The Chinese are paying the full price of his tariffs. It’s a line that the overwhelming majority of economists and business owners say is false, but Trump kept saying it — until Aug. 13. The White House announced Tuesday that the president’s latest tariffs on China would be delayed on many popular items like cellphones, laptops and strollers. The 10 percent tax would not go into effect until Dec. 15, effectively ensuring retailers can import goods for the holidays before the tariffs take effect.

Trump himself told reporters the delay is to ensure consumers don’t face higher costs this Christmas. Here are his full remarks:

“We are doing this for the Christmas season, just in case some of the tariffs would have an impact on U.S. consumers. So far they’ve had virtually none. The only impact has been that we’ve collected almost $60 billion from China, compliments of China. But just in case they might have an impact on people, what we’ve done is we’ve delayed it so they won’t be relevant for the Christmas shopping season,” Trump told reporters before he flew to western Pennsylvania.


He used qualifying phrases such as “just in case” and “might have,” but his words — and actions — are a noticeable change from his insistence that the Chinese are paying the full cost of his tariffs. (Note that the harm to American farmers comes from China’s counter-tariffs, which Trump has sought to offset with a bailout targeting farm country.)

https://www.washingtonpost.com/busi...acknowledges-his-tariffs-could-hit-consumers/

Of course, we already knew this all along. I'm thinking any rational person knows how tariffs actually work, compared to him.

Tariffs are a tax

Tariffs are a tax.
 
May 2012
68,309
13,596
By the wall
#4
Go talk to the farmers right now and see what kind of reaction you get to that comment.
Had Obama stood up to China instead of licking their boots our farmers would be making money hand over fist right now and sending their kids to the best schools, building retirements, living the good life.

Do you think we won the Revolution by asking politiely?

No, it took blood and sacrifice but we were better for it in the end.

Show some balls girl and support your country.
 
Jul 2014
69,029
58,542
CA
#5
Had Obama stood up to China instead of licking their boots our farmers would be making money hand over fist right now and sending their kids to the best schools, building retirements, living the good life.

Do you think we won the Revolution by asking politiely?

No, it took blood and sacrifice but we were better for it in the end.

Show some balls girl and support your country.
Obama has nothing to do with this thread btw.

But I guess that's par for the course with you? Distract, distract.


Oh and btw

Wall Street is getting seriously gloomy about the economy, with recession warnings mounting and stock-market volatility rising just as President Donald Trump prepares to fire up his reelection campaign machine.

Over just the last few days, economists at Goldman Sachs, Morgan Stanley and Bank of America all warned that Trump’s bitter trade war with China is taking a bigger bite out of economic growth than expected.


The warnings came as stocks suffered another big dip on Monday with the Dow closing off nearly 400 points, or 1.5 percent, putting the blue-chip index at 25,897, over 700 points lower than it was in January of 2018 before Trump’s trade fights began in earnest. Stocks bounced back Tuesday after the Trump administration’s announcement about postponing some tariffs that had been set to take effect next month, continuing a long track record of market volatility tied to trade policy.

The collective wisdom now spreading across Wall Street is that no trade deal will be struck with China before the 2020 election; business investment will continue to sag; and a series of interest-rate cuts from the Federal Reserve won’t be enough to juice more growth out of an economy now in its tenth year of expansion — the longest stretch in American history.

Wall Street sees risk of recession rising
 
May 2012
68,309
13,596
By the wall
#6
Obama has nothing to do with this thread btw.

But I guess that's par for the course with you? Distract, distract.


Oh and btw

Wall Street is getting seriously gloomy about the economy, with recession warnings mounting and stock-market volatility rising just as President Donald Trump prepares to fire up his reelection campaign machine.

Over just the last few days, economists at Goldman Sachs, Morgan Stanley and Bank of America all warned that Trump’s bitter trade war with China is taking a bigger bite out of economic growth than expected.


The warnings came as stocks suffered another big dip on Monday with the Dow closing off nearly 400 points, or 1.5 percent, putting the blue-chip index at 25,897, over 700 points lower than it was in January of 2018 before Trump’s trade fights began in earnest. Stocks bounced back Tuesday after the Trump administration’s announcement about postponing some tariffs that had been set to take effect next month, continuing a long track record of market volatility tied to trade policy.

The collective wisdom now spreading across Wall Street is that no trade deal will be struck with China before the 2020 election; business investment will continue to sag; and a series of interest-rate cuts from the Federal Reserve won’t be enough to juice more growth out of an economy now in its tenth year of expansion — the longest stretch in American history.

Wall Street sees risk of recession rising
He does now because I just brought him up.

But hey, you can also blame every president who allowed this trade imbalance to happen since....oh what is it, the 60's?
 
Jul 2014
69,029
58,542
CA
#7
He does now because I just brought him up.

But hey, you can also blame every president who allowed this trade imbalance to happen since....oh what is it, the 60's?
Yes in order to divert away from the fact that Trump, despite having handed to him, a really strong economy, seems hell-bent on screwing it up

And in the midst of having the biggest deficit/debt than we have ever seen before.
 
Likes: Friday13
May 2012
68,309
13,596
By the wall
#8
Yes in order to divert away from the fact that Trump, despite having handed to him, a really strong economy, seems hell-bent on screwing it up

And in the midst of having the biggest deficit/debt than we have ever seen before.
LOL, gonna be embarrassing when he screws it up after he is after office after 8 years.

Hahahaha

His first term is almost ever and it's as strong as ever.

Go bark up another tree.
 
May 2012
68,309
13,596
By the wall
#9
Yes in order to divert away from the fact that Trump, despite having handed to him, a really strong economy, seems hell-bent on screwing it up

And in the midst of having the biggest deficit/debt than we have ever seen before.
Your liberal programs are expensive and they keep expanding as you bring in more of your illegal immigrants.

You expect the cost to go down?
 
Jul 2014
69,029
58,542
CA
#10
Your liberal programs are expensive and they keep expanding as you bring in more of your illegal immigrants.

You expect the cost to go down?
Translation - I have no idea what I'm talking about and what was actually included in the last budget.

The only thing going for Trump right now is a fairly strong economy, which he seems to determine to screw up. Especially when it comes to farmers.
 

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