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Thread: Tariffs

  1. #1
    Senior Member Mikegillam's Avatar
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    Default Tariffs

    As I understand the point of tariffs is to make a product so expensive that the people would switch their buying habits from imported to domestically made. Essentially a tax to consumers to force higher prices on imported goods. For example, we increase tariffs on the Chinese washing machines, the Chinese manufacturer raises prices (to keep profits), US consumers switch to buying US made machines because they are now cheaper.

    So, if that is true, why would Commerce Secretary Wilbur Ross keep making comments that consumers won't see a cost increase (or at least very minimal)? I watched him again this morning commenting on the tariffs being spread over thousands of items, won't have a impact on prices? If the consumer is not going to change buying habits, what good are the tariffs going to do? Now, if the tariffs jack up the prices by 20-30%, maybe habits might change, but then, that would be political suicide. Then again, maybe tariffs that won't have any real effect are for political gain? Or maybe just a fundraiser for the government and not really to assist domestic products?
    " Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, (red) wine in the other, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!" Unknown

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  3. #2
    Senior Member swliszka's Avatar
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    Mike where have you been for the past five years? We have argued over this. Read the Chinese published economic plans for 2015 and 2030, Belt and Road, South China Seas...Peter Navarro, agricultural pundits spreading fears because of "markets." This is a threat to the established order and the winners to date don't want to lose..See my last post and Marvin's response. Just-in-time, cheap transportation, labor commodification and interchangeable keeping wages low, this is planned not random. You said you remember the 1980s and Ohio manufacturing rupturing? Return to those memories. Americans took quick profit over other Americans poverty.
    Last edited by swliszka; 09-19-2018 at 09:40 AM.

  4. #3
    Senior Member Mikegillam's Avatar
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    Quote Originally Posted by swliszka View Post
    Mike where have you been for the past five years? We have argued over this. Read the Chinese published economic plans for 2015 and 2030, Belt and Road, South China Seas...Peter Navarro, agricultural pundits spreading fears because of "markets." This is a threat to the established order and the winners to date don't want to lose..See my last post and Marvin's response. Just-in-time, cheap transportation, labor commodification and interchangeable keeping wages low, this is planned not random. You said you remember the 1980s and Ohio manufacturing rupturing? Return to those memories. Americans took quick profit over other Americans poverty.
    Obviously, taking a nap
    " Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, (red) wine in the other, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!" Unknown

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  6. #4
    Senior Member swliszka's Avatar
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    Mike check the low # of readers for your thread. Finances, trade, etc. are NOT the hot topic. It requires higher thinking skills and has no attraction unless it impacts their immediate lives. I am resigned to this reality both in the digital world and street world.

  7. #5
    Senior Member Payce's Avatar
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    For me the question is are we willing to do what is right for our country long term? To source more and more of our products overseas (some due to poor trade agreements) we are restricting job growth and wage growth long term. Couple such a move with large influx of new uneducated workers from other countries and living standards here come under pressure. Considering that 70% of our economy is consumer based, and service industries are happy to hire the influx of uneducated workers, such a move would seem to not end well. I look at it as a generational issue and am willing to pay more for stuff now for my kids and everyone’s kids future later.

    Short term (today) we have seen things moving the right way. It is but a blip on the long term trend of lost jobs and flat to lower wages. All this is tied to the comments of the middle class shrinking and also the often touted wage gap.

    Old enough that I’m no longer full time in the game. Have a job, but more like a sunset situation. More of a spectator in the bleachers and not “playing in the game any longer”. As such, this could be considered my being an arm chair quarterback.

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