You should be afraid of tariffs too being proposed on Chinese goods... 50-60% in some conversations? Americans who forget Smoot-Hawley and got hoodwinked that China was paying tariffs...
To the contrary I would welcome the tariffs on China. This ain't 1930. China been eating our lunch and supper. Time we ate theirs. The rest of the world can figure the negative ramifications on themselves. We will be fine and come out stronger too!
Here is why Volpri! "Even so, Hawley-Smoot signaled an American emphasis on domestic priorities and a further constraint on flows of trade and finance that compounded the destabilization of the international economy in 1930 and 1931." That is why! We will be selling out American made goods and they won't sell as much of their own goods to us. Thank you Volpri! Your welcome!
It is impressive that even legal weed and free 20K for all black people still didn't get them to come out in the numbers she needed. Imagine if Trump had offered that to black people.
Short sided as the U.S. is a consumer economy and we don't make 75% of the shit we import from China... So when you say we will be fine it is because you are ignorant of how international trade works... When huge tariffs are imposed on Chiense goods, it will raise the prices of those goods and the cost will be passed on to the American public (just like 1930). We do not produce many of the things that we import so people will have little choice. China has not been eating our lunch and supper, we do it to ourselves because we are undisciplined buying whores with negative savings rates who spend spend spend. When U.S. put tariffs on Japanese autos guess who suffered? U.S. owners of auto dealerships who sell Japanese cars which were priced higher now. I bet you think China pays the tariffs too. It would not surprise me given the level of education on international trade and economics in this forum and in the U.S. To prove my point look around at everything you have in the house and in your hands......Apple made in Asia/China, clothes made in Asia/China, even trump's goods are made in China. Do you drive a F-150 truck or a foreign car? Evne if you drive a F-150 guess where the chips and electronic parts come from? Take a guess... So before you sit on your rich ass demanding tariffs, remember the poor and middle class who will feel that "tax" the most and even if America has products that compete, they were more expensive to begin with anyway so cost will be higher to those families. Blame the U.S. cost structure as to why companies went overseas to produce but most importantly blame the U.S. consumer who does not give a shit about Made in America, they just want it cheaper. The rest of the world already figured it out, we have not. There is not anything we produce that cannot be bought elsewhere that is in demand. Our greatest export is IT and services but even that is outsourced heavily. If we raise the price of Chinese imports they will do 2 things - shift production to other Asian countries and sell to U.S. (why do you think so many candles are now made in vietnam) or jump on board the growing consumer markets in latin america and africa that we look down on.
And this is the crux of a deliberately stupid argument here. "We don't make it here." That is the whole point. To have us make it here instead. I would rather pay $40 for a DVD player and have it made by Americans with jobs contributing to my community than pay $20 for a slave labor DVD player while my pay is taxed like crazy for healthy able bodied adults to sit on public assistance. The rest of the world taxes imported American goods. What do you think the VAT is about? It was specifically designed to apply to imported goods from America but not to apply to export goods going to America. How many American cars do you think I saw in Japan? No America is being sold out by the American political class. There's a reason people like Hunter Biden wind up with seats on the board of foreign corporations.
Lot of incorrect statements in here.. YOU would rather pay $40 for a DVD but the majority of Americans will not. Dont make the hubris mistake of thinking you represent the entire U.S. You think if a tariff is slapped on a factory opens tomorrow to make DVD players? It has not been made here in decades so that is a fantasy to try and prove an economic point so it is illusory. A tariff will not magically create TV and DVD factories. VAT is an across the board sales tax already in existence in a country that everyone pays. I export and import and Mexico for example charges 16% VAT tax on everything equaly except for exempted goods under trade treaties. You are talking about slapping 20...40..60% tax on a product. If you think that is the same as a 10-16% VAT tax which exists on all products then you are missing the point. American goods in Japan depend on what it is.... Lot of American goods and services in Japan but the perception is American cars are inferior to Japanese cars and.....they are right. Japanese dont want to buy American cars when they have Honda, Toyota, etc to choose from. There are trade restrictions to overcome but Americans want to buy Japanese cars plain and simple. They last longer and are better cars for the value. You sphincter clenches so much over dems you are not relying on economic principles. trump can slap all the tariffs he want but we import from China it does not change the fact we are a consumer economy. If you want to have this discussion rely on facts not feelins. Majority of Americans want products they can afford. A middle class family loves that large screen TV for under $800, they dont give a shit where it is made. Also we do not make TVs like that so why would a company invest in a factory that will take years and hundreds of millions of dollars for a product that Japan, Korea, China make better and cheaper.
There's nothing magic about it. Electronics manufacturing is already in the US. It's just a question of orders and scale. The idea that the factories would need to open magically or instantly is just idiot nonsense. We just had an election where this was a major topic. You seem delusional about what people just voted for. That is an exceptionally dishonest representation of what VAT is. "Products exported to other countries are typically exempted from the tax, typically via a rebate to the exporter. " https://en.m.wikipedia.org/wiki/Value-added_tax As someone who works in the business you would obviously know this. But sure, try to lecture us about economics when you can't even honestly explain VAT.
The ironic thing is the Dem's are the ones that are socialistic anymore. They are actually elitist. They cater to the rich and the elite for $$ and then they pander to the illegal immigrants that they let into the country and the petty criminals that they let out from the jails for votes bribing them with the illusion of the American Dream and the taste of freedom respectively. And in the meanwhile they throw the mass of American people under the bus and expect them to pick up the tab for the scheme. Socialistic agendas are supposed for the people, the mass majority of people, hence the name "socialistic" but the Democrats have abandoned the people long time ago. That's why they are not getting the votes. If you actually look at the election map, the biggest states that voted for the Dem's are California and New York and all of the New England states, all of them "elitist" states with property values above $1 million, well above the value of the properties in rest of America, all of the states that voted for Trump, the heartland of America. It's amazing to see that the Republicans are actually more in touch with the American people today. LOL