nec209 Posted October 19 Share Posted October 19 (edited) Economists warn that Trump's tariffs could cause tech prices to skyrocket Study says laptop prices could increase up to 45%, monitors up to 50%, many other products affected If Trump were to implement his proposed tariffs upon becoming president again, it would significantly reshape the landscape of consumer electronics in the US. Economic policy discussions can often seem abstract, but it's important to understand the real-world consequences these tariffs could bring. https://www.techspot.com/news/105205-economists-warn-trump-tariffs-could-cause-tech-prices.html Edited October 19 by nec209 Link to comment Share on other sites More sharing options...
swansont Posted October 19 Share Posted October 19 ! Moderator Note Yes, we saw price spikes during his administration from the tariffs he implemented. Is there a discussion to be had here? Link to comment Share on other sites More sharing options...
nec209 Posted October 19 Author Share Posted October 19 I thought Trump tariffs on China goods the Chinese government is supposed to pay the tariffs not the US consumers? So say the laptop or monitor is $500 dollars and plus $300 of tariffs the Chinese government is supposed pay $300 Link to comment Share on other sites More sharing options...
swansont Posted October 19 Share Posted October 19 10 minutes ago, nec209 said: I thought Trump tariffs on China goods the Chinese government is supposed to pay the tariffs not the US consumers? So say the laptop or monitor is $500 dollars and plus $300 of tariffs the Chinese government is supposed pay $300 How does the consumer avoid paying? If the monitor costs $500 and you slap a $300 tariff on it, they will raise the price to $800, or to whatever preserves their profit. They aren’t going to just eat the tariff and export at a loss. ”China will pay” is just Trump’s gross ignorance of how this works. Or another lie to sell to his marks (or a combination of the two) 1 Link to comment Share on other sites More sharing options...
nec209 Posted October 19 Author Share Posted October 19 18 minutes ago, swansont said: How does the consumer avoid paying? If the monitor costs $500 and you slap a $300 tariff on it, they will raise the price to $800, or to whatever preserves their profit. They aren’t going to just eat the tariff and export at a loss. I thought the company pays nothing? I thought the company making the monitor pays nothing or the consumer it is Chinese government that pays the tariff. And the consumer or company making the product pays nothing only the Chinese government? Link to comment Share on other sites More sharing options...
pzkpfw Posted October 19 Share Posted October 19 (edited) 55 minutes ago, nec209 said: I thought the company pays nothing? I thought the company making the monitor pays nothing or the consumer it is Chinese government that pays the tariff. And the consumer or company making the product pays nothing only the Chinese government? Tariffs are applied as a kind of tax on the goods, not as a separate bill to the Government of the source nation. (The fantasy is that the seller has to lower profits to keep the final cost the same *, making local industries competitive again. The reality is that prices go up and the consumers pay more.) ((* or maybe even leave the market altogether, which while it might leave local manufacturers standing, it decreases their competition and still raises costs for consumers.)) Edited October 19 by pzkpfw Link to comment Share on other sites More sharing options...
swansont Posted October 19 Share Posted October 19 46 minutes ago, nec209 said: I thought the company pays nothing? I thought the company making the monitor pays nothing or the consumer it is Chinese government that pays the tariff. And the consumer or company making the product pays nothing only the Chinese government? Even if that were the process, why wouldn’t the Chinese government charge the manufacturer? Do you think they would just fork over the money? Why do you think the article talks about consumer prices going up? Why did prices actually go up when Trump did the before? https://www.nbcnews.com/business/consumer/trump-s-washing-machine-tariffs-are-costing-americans-almost-100-n999461 “A little more than a year after President Donald Trump slapped a 20 percent tariff on imported washing machines, new research finds that American shoppers have been the ones to pay the price. A study conducted by two researchers at the University of Chicago and a Federal Reserve Board Governor found that washers cost an average of 12 percent more after the imposition of the tariffs, or roughly $86 to $92 more per appliance.” Domestic manufacturers took the opportunity to raise their own prices to pad their profits. Link to comment Share on other sites More sharing options...
nec209 Posted October 19 Author Share Posted October 19 50 minutes ago, pzkpfw said: Tariffs are applied as a kind of tax on the goods, not as a separate bill to the Government of the source nation. (The fantasy is that the seller has to lower profits to keep the final cost the same *, making local industries competitive again. The reality is that prices go up and the consumers pay more.) ((* or maybe even leave the market altogether, which while it might leave local manufacturers standing, it decreases their competition and still raises costs for consumers.)) What do you mean by Tariffs are applied as a kind of tax on the good? Than who is suppose to pay the tax? Link to comment Share on other sites More sharing options...
iNow Posted October 19 Share Posted October 19 49 minutes ago, nec209 said: Than who is suppose to pay the tax? Us, the US consumers. His proposed tariffs would (on average) result in a $4,500 annual tax hike on US consumers. Over the course of a single 4-year term, this means the average American family will be $18,000 poorer. Link to comment Share on other sites More sharing options...
pzkpfw Posted October 19 Share Posted October 19 1 hour ago, nec209 said: What do you mean by Tariffs are applied as a kind of tax on the good? Than who is suppose to pay the tax? This stuff is googleable: https://www.cfr.org/backgrounder/what-are-tariffs#chapter-title-0-2 Link to comment Share on other sites More sharing options...
swansont Posted October 19 Share Posted October 19 1 hour ago, iNow said: Us, the US consumers. His proposed tariffs would (on average) result in a $4,500 annual tax hike on US consumers. Over the course of a single 4-year term, this means the average American family will be $18,000 poorer. I think the question is who literally pays the tariff, i.e. how is it collected by the US. The consumer will pay more to the retailer, and the retailer pays more to the importer, who pays the tariff to customs. “When the U.S. imposes tariffs on imports, U.S. businesses directly pay import taxes to the U.S. government on their purchases from abroad” https://taxfoundation.org/blog/who-really-pays-tariffs/ “A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer, say, Costco.” https://taxpolicycenter.org/taxvox/what-tariff-and-who-pays-it Nobody is going to pay a tariff without adding it to the cost of goods. And I’m shocked, shocked to find out that Trump doesn’t know what he’s talking about, and lying about some foreign country paying for it. Link to comment Share on other sites More sharing options...
KJW Posted October 20 Share Posted October 20 (edited) 1 hour ago, swansont said: And I’m shocked, shocked to find out that Trump doesn’t know what he’s talking about, and lying about some foreign country paying for it. Did Mexico pay for the border wall? Edited October 20 by KJW Link to comment Share on other sites More sharing options...
iNow Posted October 20 Share Posted October 20 33 minutes ago, KJW said: Did Mexico pay for the border wall? What border wall? Link to comment Share on other sites More sharing options...
KJW Posted October 20 Share Posted October 20 5 minutes ago, iNow said: What border wall? Didn't Trump build a wall, or at least part of a wall? He said he was going to build a wall, and make Mexico pay for it. Link to comment Share on other sites More sharing options...
MigL Posted October 20 Share Posted October 20 A tariff IS a tax. When you buy something, nec209, who pays the tax ? Is your understanding of economics comparable to D Trump's ? 1 Link to comment Share on other sites More sharing options...
swansont Posted October 20 Share Posted October 20 11 minutes ago, KJW said: Didn't Trump build a wall, or at least part of a wall? He said he was going to build a wall, and make Mexico pay for it. Yes, he said that, and no, of course they didn’t. Link to comment Share on other sites More sharing options...
iNow Posted October 20 Share Posted October 20 22 minutes ago, KJW said: Didn't Trump build a wall, or at least part of a wall? The total length of the continental border is 1,954 miles. Trump built 47 miles of new wall that wasn’t already there before he even took office. Even if we spot him 1900 miles, he STILL came up 7 miles short. Link to comment Share on other sites More sharing options...
J.C.MacSwell Posted October 20 Share Posted October 20 (edited) 19 hours ago, KJW said: Didn't Trump build a wall, or at least part of a wall? He said he was going to build a wall, and make Mexico pay for it. Trump built at least some of it and put a healthy markup on it, did he not? It's not his fault the current administration forgot to send Mexico the bill. Even if it had been included in the border bill he kiboshed he can hardly be blamed. Wasn't on his watch. Everything was wonderful and best ever with him as POTUS. If Trump says tariffs are good for the country who are these "economists" to question that? Edited October 20 by J.C.MacSwell Link to comment Share on other sites More sharing options...
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