U.S. Hikes Tariffs on Electronics Imports from China by 2.5 Times

[btarunr]

President Donald Trump Sunday announced a fresh round of import tariffs affecting $200 billion worth electronics goods from China, starting next Friday. President Trump in a Tweet said that his administration would raise import tariffs to a staggering 25 percent from the existing 10 percent, a 2.5 times change, a move that could increase prices of consumer-electronics and computer hardware by at least 14 percent unless retailers are willing to take a hit on their margins. Tech stocks took a beating to this news as Dow Jones Industrial index fell 1.5 percent, and Nikkei shrunk 0.2 percent.

In the short term, as we mentioned, the new tariffs can increase end-user prices by at least 14 percent. In the medium-term, electronics companies could move their manufacturing out of China, transferring the costs of doing so to the consumer. In the long term, prices could remain high as the countries companies are relocating to may not have the labor or logistics cost advantages of China.



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[Deleted member 24505]

Way to screw your own people over.

 

[Deleted member 158293]

Best way to continue to raise taxes, a lot, and blame somebody else.

Well done.

 

[btarunr]

Best way to continue to raise taxes, a lot, and blame somebody else.

Well done.

I think income tax contributes $5 trillion to the American exchequer annually. These raised tariffs are barely $30 billion in additional revenues.

So, no, Trump isn't trying to screw the middle-class over by making up for tax-cuts with higher import tariffs.

 

[Caring1]

Big business wont care as they will simply pass all costs on, the only way to bring production back is to reduce local business taxes, and tax companies that produce goods overseas more.

 

[Valantar]

It's quite fascinating how Trump keeps saying that "China is paying" when the US public are the only ones paying for this. Rhetoric ≠ reality.

 

[btarunr]

It's quite fascinating how Trump keeps saying that "China is paying" when the US public are the only ones paying for this. Rhetoric ≠ reality.

China is paying in the form of tougher price-negotiations with American businesses (inability to support rising labor costs), and loss of manufacturing to other countries such as Vietnam, The Philippines, Taiwan, Malaysia, and India.

 

[juiseman]

They do pay in a way; we don't buy as much.

China imports a lot of items from the US as well.
I want to say they need our grain more than we need
their cheap electronics.

 

[Valantar]

China is paying in the form of tougher price-negotiations with American businesses (inability to support rising labor costs), and loss of manufacturing to other countries such as Vietnam, The Philippines, Taiwan, Malaysia, and India.

They do pay in a way; we don't buy as much.

China imports a lot of items from the US as well.
I want to say they need our grain more than we need
their cheap electronics.

Sure, but that's a rather broad definition of "paying".

Trade wars hurt everyone involved. Period. If Trump wanted to protect US jobs, he'd enact right-to-repair laws and regulate and split up the tech giants.

 

[firewrath9]

They do pay in a way; we don't buy as much.

China imports a lot of items from the US as well.
I want to say they need our grain more than we need
their cheap electronics.

We need them to need our fking grain, if they don't then rip thousands of jobs, as china's one of our largest exporters.

 

[juiseman]

https://www.thebalancesmb.com/top-countries-exporting-to-the-u-s-3502318

https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270

Looks like we only export 9% food

I think soy beans is what i meant; I was not correct when i said "grain" that is "wheat"

 

[Valantar]

https://www.thebalancesmb.com/top-countries-exporting-to-the-u-s-3502318

https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270

Looks like we only export 9% food

9% of what? Total production? Or total exports? Those are very, very different figures. A 9% drop in production is massive. According to a quick Google search, around 4 million people were employed in agriculture in the US in 2012. A 9% drop would mean the loss of nearly 400 000 jobs in that field alone, without taking into account export, shipping and distribution jobs.

 

[juiseman]

"Just 9% of exported goods are foods, feeds, and beverages ($133 billion). The big three are soybeans ($18 billion), meat and poultry ($20 billion), and corn ($14 billion). Food exports are falling since many countries don't like U.S. food processing standards. That was a major block to the Obama administration's negotiation of the Transatlantic Trade and Investment Partnership. "

These are US Exports; The tariffs are on China's imports....

This is getting to political...I'm out.....Most of what politicians & leaders do and say is fluff.. Their just trying to
get everyone up in a rile. Let me know when WWIII starts; otherwise I try my best to ignore anything in the news,

 

[Eskimonster]

"Food exports are falling since many countries don't like U.S. food processing standards. "

I so agree, i never buy american food.

 

[R0H1T]

I think income tax contributes $5 trillion to the American exchequer annually. These raised tariffs are barely $30 billion in additional revenues.

So, no, Trump isn't trying to screw the middle-class over by making up for tax-cuts with higher import tariffs.

This will create a knock on effect, pretty sure the direct+indirect implications will exceed $30 billion. Having said that China did bring this upon themselves, so did everyone else who thought they could continue to skip taxes & enrich themselves endlessly!

 

[64K]

At the end of the day America will win a trade war. The Chinese economy is fragile and they will break before we do. We will just buy from India or African countries.

 

[Space Lynx]

China is paying in the form of tougher price-negotiations with American businesses (inability to support rising labor costs), and loss of manufacturing to other countries such as Vietnam, The Philippines, Taiwan, Malaysia, and India.

nah, China has been preparing for this moment for a long time. they have a billion people and they have been rapidly moving a lot of them out of poverty/agriculture. they only need to make 300 billion of that 1 billion to act as new consumers, and they don't even need america anymore.

China has been planning for the long term for a long time now, they can create nuclear power plants in a fraction of the time and cost than in a capitalist society, etc. I think they were caught by surprise on the Trump thing, but it doesn't change their plans any, just makes them accelerate it is all.

fyi, China will have more PC gamers by 2023 than all of the USA entire population. China won't hurt at all.

 

[GoldenX]

FrEe mArKeT.

 

[R0H1T]

they only need to make 300 billion of that 1 billion to act as new consumers, and they don't even need america anymore.

Sorry bud the math doesn't add up

Also Chinese consumers won't replace the US middle class anytime soon.

 

[Fourstaff]

At the end of the day America will win a trade war. The Chinese economy is fragile and they will break before we do. We will just buy from India or African countries.

When elephants fight, its the grass that suffers. I really hope I don't get trampled.

 

[64K]

nah, China has been preparing for this moment for a long time. they have a billion people and they have been rapidly moving a lot of them out of poverty/agriculture. they only need to make 300 billion of that 1 billion to act as new consumers, and they don't even need america anymore.

China has been planning for the long term for a long time now, they can create nuclear power plants in a fraction of the time and cost than in a capitalist society, etc. I think they were caught by surprise on the Trump thing, but it doesn't change their plans any, just makes them accelerate it is all.

fyi, China will have more PC gamers by 2023 than all of the USA entire population. China won't hurt at all.

It's probable that companies will just move manufacturing to India, African countries and South East Asian countries if China wants to play hardball with the West.

Their days of double digit growth are over. That's what the Chinese Government depended on for economic security.

https://www.forbes.com/sites/billco...-is-too-mature-for-rapid-growth/#451fc9d465df

 

[juiseman]

As a result of the trade war; we don't get stuff like this.....

https://hothardware.com/news/huawei-5g-8k-tv

 

[Deleted member 158293]

I think income tax contributes $5 trillion to the American exchequer annually. These raised tariffs are barely $30 billion in additional revenues.

So, no, Trump isn't trying to screw the middle-class over by making up for tax-cuts with higher import tariffs.

Good to know, tariffs won't affect cost.

 

[drade]

nah, China has been preparing for this moment for a long time. they have a billion people and they have been rapidly moving a lot of them out of poverty/agriculture. they only need to make 300 billion of that 1 billion to act as new consumers, and they don't even need america anymore.

China has been planning for the long term for a long time now, they can create nuclear power plants in a fraction of the time and cost than in a capitalist society, etc. I think they were caught by surprise on the Trump thing, but it doesn't change their plans any, just makes them accelerate it is all.

fyi, China will have more PC gamers by 2023 than all of the USA entire population. China won't hurt at all.

Go back to middle school and learn proper mathematics , lawl. Read some credited resources and see how the Chinese and global economies have been affected by the trade war. Your just stating anecdotal BS

 

[Space Lynx]

Go back to middle school and learn proper mathematics , lawl. Read some credited resources and see how the Chinese and global economies have been affected by the trade war. Your just stating anecdotal BS

I meant long term. like 50 years out. I assure you China is playing the long game, not the short one like America is. They also steal a ton of RnD and get away with it, all the have to do is raise up a large part of their population to a middle class economy over the next 50 years and they will not be so dependant at all on the rest of the world. There is also no denying that being able to create nuclear power plants for a fraction of the cost and time to build over capitalism has its long term benefits. I think it was Time magazine I read that, can't remember 100%. The cost is literally like 2% of what the USA has to pay for a nuclear power plant. Being state run has its benefits, contractors scam government too much (Trump said he was going to fix this, but I don't think he ever did, lol)

https://www.pcgamer.com/uk/China-PC-online-game-market-report-2019/