Who’s paying the tariffs? Not China.I think I've got a fairly good grasp of it. If China is coming out $550 billion ahead while preventing our products from being sold there through high tariffs, something is rotten in Denmark. Now how global is that?
If China is placing high tariffs on imports they are increasing the cost for goods for their population. This lowers their people’s buying power and creates a lower standard of living. Trump wanted to be fair and caused the same to happen to our population.I think I've got a fairly good grasp of it. If China is coming out $550 billion ahead while preventing our products from being sold there through high tariffs, something is rotten in Denmark. Now how global is that?
Yep, the costs went up for Americans buying overseas goods, especially tools and anything made of steel, even if it wasn’t made in mainland China.
Ask our American farmers how it’s been going. Without welfare they’d be screwed, completely. Before Covid even.
Not welfare, socialism.
You're not getting it. Trump put tariffs on Chinese goods because China had very high tariffs on our goods we were trying to sell there, like cars. China protects its manufacturers. Resulted in a huge trade imbalance. Yes the cost of tariffs on Chinese goods is passed to the consumer. But the higher prices our consumers were presented resulted in less Chinese goods being bought. China was hurting. So China finally signed an agreement resulting in their pledging to buy more of our products especially agricultural products. Our soybeans and corn are soaring now.
You need to check commodities prices. They're doing well now.
That maybe the oddest interpretation of what is happening I've ever seen. China places high tariffs on our goods to protect their own manufacturers from competition. They more than make up any negative effect of that policy with the huge trade imbalance they have with us.
The result is taxing all Americans so farmers/ international agriculture companies can earn more. That’s called redistribution of wealth from the poor to the rich.
I follow a large ag forum. The vast majority of farmers understood what Trump was trying to do and stood by him. It's twisted logic to say we must let a huge trade imbalance continue that hurts our manufacturers, loses jobs, so that our consumers don't have to choose something other than a cheap Chinese product.
Chinese auto imports amount to less than 200000 units, down from a high of 314000+ in 2014. We propped up our Ag with billions of dollars in socialistic subsidies, mostly to large Ag.
Mostly to all farmers. I read a huge ag forum where this is discussed from every angle possible. And the point is that products like cars are mostly shut out of the huge Chinese market with high tariffs.
The unilateral approach is short-sighted and the trade war is counterproductive. It's ongoing with no end in sight. We are better off using the WTO and the multilateral approach. Play the long game and take our wins that way.
If you think it was going better before Trump you're right. It was going better for China and for American companies who benefited from cheap manufacturing(Amazon, Walmart)and from transporting all that freight.
If China wants to hurt its population by not allowing superior cars to be affordable, that’s their problem not ours. No reason I should have to pay more for shoes so a farmer can get paid more.
Everybody loses in a trade war. Better to have the world pressure China and other bad actors together. That's one thing I agree with Milton Friedman on.
So you aren't for supporting unionized General Motors selling more cars in China? You aren't very loyal to American workers. Not to mention China employs slave labor.