I'm an importer, so I posted the following issue. Tariff duty fees are added at the beginning of the retail cycle and are figured in as part of the total landed cost. After that, the importer puts on their profit, as does the retailer. This might come to 3 times the actual tariff rate. So while a consumer may pay 1.50 extra for the tarriff cost, the goverment might only get .50 because the other dollar is in the supply chain markup. So as well as being really costly, they are a really inefficient method of taxation too
Thanks for pointing that out. All of those ripple effects aren't discussed. Would the importer and retailer potentially lower their mark-ups, as a result of the higher landed cost (due to tariffs)? I hear that mentioned by some people.
I wonder about other downstream effects, like insurance (now that replacement/repair costs could be higher), medical care (if equipment/supply costs go up), public transportation, construction... the tariffs are just the beginning of cost increases to the American consumer.
Not likely to lower the price since everyone will have the same increase that offers whatever the product is. The worst will be the poor (who supported Trump though he surely hates them), because everthing they buy is from China and China has the highest tariff - 125% today is seems - which, if I recall, is more than the tariff for the USSR during the cold war. So we can expect the Dollars Stores to become the 5 Dollar Stores I guess
I don't think Trump will back down. He's likely to continue his trade war that could put US businesses out of business and citizens into poverty, all in order to tell himself "he won" a trade war against another country. Either the Republicans in Congress and judges will need to step up to stop him, or other countries will need to bend the knee. Or, he could spin up a fantasy tale to save face if he gets enough pressure from top CEOs, donors, and Republicans. My worry is, he may decide to turn a trade war into a military war - for ego reasons.
I think you are right. Even if one country bends to his stupid tariffs, he'll count that a win. LFG, and thanks for the link. This is a great explainer.
Here we go on the roller coaster ride again. He must be so hyped up to hold such power over the world markets.
And they are already saying the recent pause is definitely not capitulation. It is part of his so called strategy. If you ask me, people will be cautious. Things could change again tomorrow. And the trade war with China is still on, unfortunately. We know he has a grudge against China. We saw that when he called COVID the "China virus". For some reason, he seems to want to dominate them, especially.
As to what leads those white men in their 60s, 70s, and 80s to slightly screw themselves in order to screw others more-- I think that a lot of it's what drew them to Trump. A feeling of being cheated by women and people of color who have been able to get good work and build wealth. I imagine their cries:
"It's not fair! Everyone knows they's not as good!"
"How dare they approach my status!"
"Everything they've accumulated was taken from me!"
"They don't just have to be deprived of their unjust gains! They have to be punished!"
"I have them! I hate all these insolent poor people!"
Trump/Musk/Miller policy reminds me more and more of what C.S. Lewis' Screwtape says of good style in luring humans to damnation: "To get the man's soul and give him nothing in return-that is what really gladdens our Father's heart."
I'm an importer, so I posted the following issue. Tariff duty fees are added at the beginning of the retail cycle and are figured in as part of the total landed cost. After that, the importer puts on their profit, as does the retailer. This might come to 3 times the actual tariff rate. So while a consumer may pay 1.50 extra for the tarriff cost, the goverment might only get .50 because the other dollar is in the supply chain markup. So as well as being really costly, they are a really inefficient method of taxation too
Thanks for pointing that out. All of those ripple effects aren't discussed. Would the importer and retailer potentially lower their mark-ups, as a result of the higher landed cost (due to tariffs)? I hear that mentioned by some people.
I wonder about other downstream effects, like insurance (now that replacement/repair costs could be higher), medical care (if equipment/supply costs go up), public transportation, construction... the tariffs are just the beginning of cost increases to the American consumer.
Not likely to lower the price since everyone will have the same increase that offers whatever the product is. The worst will be the poor (who supported Trump though he surely hates them), because everthing they buy is from China and China has the highest tariff - 125% today is seems - which, if I recall, is more than the tariff for the USSR during the cold war. So we can expect the Dollars Stores to become the 5 Dollar Stores I guess
I don't think Trump will back down. He's likely to continue his trade war that could put US businesses out of business and citizens into poverty, all in order to tell himself "he won" a trade war against another country. Either the Republicans in Congress and judges will need to step up to stop him, or other countries will need to bend the knee. Or, he could spin up a fantasy tale to save face if he gets enough pressure from top CEOs, donors, and Republicans. My worry is, he may decide to turn a trade war into a military war - for ego reasons.
I saw this on Facebook. It's originally from TicTok, but anyone can view it. It's helpful in a simple, big picture way. Re: tariffs & trade deficits: https://www.tiktok.com/@nytopinion/video/7489473337110940958
I think you are right. Even if one country bends to his stupid tariffs, he'll count that a win. LFG, and thanks for the link. This is a great explainer.
Here we go on the roller coaster ride again. He must be so hyped up to hold such power over the world markets.
And they are already saying the recent pause is definitely not capitulation. It is part of his so called strategy. If you ask me, people will be cautious. Things could change again tomorrow. And the trade war with China is still on, unfortunately. We know he has a grudge against China. We saw that when he called COVID the "China virus". For some reason, he seems to want to dominate them, especially.
As to what leads those white men in their 60s, 70s, and 80s to slightly screw themselves in order to screw others more-- I think that a lot of it's what drew them to Trump. A feeling of being cheated by women and people of color who have been able to get good work and build wealth. I imagine their cries:
"It's not fair! Everyone knows they's not as good!"
"How dare they approach my status!"
"Everything they've accumulated was taken from me!"
"They don't just have to be deprived of their unjust gains! They have to be punished!"
"I have them! I hate all these insolent poor people!"
"Revenge!"
Tariffs shrink trade.
Trump/Musk/Miller policy reminds me more and more of what C.S. Lewis' Screwtape says of good style in luring humans to damnation: "To get the man's soul and give him nothing in return-that is what really gladdens our Father's heart."
At this point, all I have to say is - what a shit show - what fucking moron and the like.
And so on and so on. WHAT A SHIT GIBBON.
To Russia with love, yours truly Comrade Donnie♥️xoxo
SMACK! Both lips.
Don has changed his mind on tariffs so often in the last few days, I suspect someone has mixed meth into his face makeup.
That is as good an explanation as any.
Billionaires are the real parasite class.
Amen.
Pissing contest is right. It reminds of this scene from “Pee Wes’s Big Adventure”:
https://youtu.be/C5P5eQiKNQs?si=5SjWdXNVkSAXDP-p
Oh my God. That was such a nice blast from the past.