[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Warren captures big endorsement from former Bernie supporters

‘My AR is Ready’

The Red Flag Council

Trump Tweets on Iran and NSA

Ilhan Omar Just Deleted A Tweet From 2013. Here's What It Said.

It’s all a scam: Al Gore a major investor in fake meat company while pushing fake climate science scare over real meat

REPORT: Trump To Kill House-Passed Universal Background Check Bill

Oxycontin Maker Files For Bankruptcy After Funneling Billions Into Private Accounts

Tulsi Gabbard Slams Trump: Being “Saudi Arabia’s Bitch is Not America First”

Robert F. Kennedy Jr. Claims to Know Who Really Killed His Father and is Out to Prove It

Trump Brushes Israeli Dragnet Surveillance of D.C. Under the Rug


Edward Snowden Responds After Trump DOJ Sues Whistleblower Over New Memoir the US Government “Does Not Want You to Read”

Media Happily Lends Republicans Its Megaphone to Sell Out Gun Owners

For the cash: Ex-NFL player stages hate crime, trashes his businesses

Rep Jim Jordan’s passionate speech against Red Flag laws

Trump administration repeals the Obama era ‘clean water rule’ and that is a good thing

Our Favorite Price

PETITION: Throw out the illegal prosecution of General Michael Flynn. Prosecute the perpetrators.

Concerning Government and Mainstream Media: Believe Nothing, Question Everything

Martial Law Masquerading as Law and Order: The Police StateÂ’s Language of Force

Ric Ocasek, New Wave Rock Visionary and Cars Co-Founder, Is Dead

Saturday Night Live Fires New Cast Member Shane Gillis for Using Offensive Language

New storm rises over Kavanaugh

Vapers seek relief ... by turning to cigarettes

Same Gov’t Who’s Now Banning Flavored E-Cigs, Approved Candy-Flavored Amphetamines for Kids

Remember the Vallejo Cop Who Tackled a Veteran for Filming Him?

Blood, Delusions, and Corruption in the American West

Will Justin Amash Run for President as a Libertarian in 2020?

Ken Burns Delves into the Hardscrabble History of Country Music

"Remain in Mexico" immigration hearings begin in tents at border

Black Race Huslter Deray Accuses White Race Grifter Shaun King of Fleecing Donors, Demand He Stop His "Fundraising" Scams

Are Comedians Finally Fighting Back Against the Far Left’s Cultural Clampdown?

Pete Buttigieg’s Association With the Abortionist Who Stockpiled Baby Corpses in His Home Is Hardly Surprising

Elizabeth Warren’s Social Security Proposal Doesn’t Go Far Enough: It’s Time For A Basic (Retirement) Income

The CIA’s Influence Over the Media: Use of the Conspiracy Theorist Slur

Pete Buttigieg Chides Gun Owners Who Have ‘Sense of Manhood’ Wrapped Up in Guns

Is Vaping Marijuana Safe? Deaths and Lung Disease Linked to E-Cigs Call That Into Question

DOJ Inspector General Has Completed FISA Abuse Probe

Ohio gamer sentenced to 15 months prison in 'swatting' case

Court: FBI Must Destroy Memos Calling Antiwar.com a Threat

Trump administration enters new phase for border wall, sets ambitious timetable after securing land

Eddie Money, ‘Two Tickets to Paradise’ singer, dead at 70

Eighth Illegal Alien Charged with Rape in Same Maryland Sanctuary County

Free (with ads) Movie "The Wrecking Crew"

Judicial Watch Sued To Get Footage of The ‘Plane’ Hitting The Pentagon On 9/11 (Video)

Webb Wilder & The Beatnecks - Baby Please Don't Go

95 Percent of Americans Believe the Media is Full of Shit

Orange County deputy accidentally shoots himself while training

9/11 Solidified the Destruction of Our Freedom

Status: Not Logged In; Sign In

International News
See other International News Articles

Title: With Latest Trade War Gambit, Trump Administration Admits Americans Are Paying Tariff Costs
Source: Reason
URL Source: https://reason.com/2019/08/13/with- ... icans-are-paying-tariff-costs/
Published: Aug 14, 2019
Author: Eric Boehm
Post Date: 2019-08-14 08:14:37 by Deckard
Keywords: None
Views: 60
Comments: 6

The White House says it will delay some new tariffs on Chinese imports until after the Christmas shopping season. But why do that if Americans aren't paying

The White House on Tuesday said that some planned tariffs on consumer electronics and household goods would be postponed until December 15—a political maneuver intended to blunt the potential impact of those tariffs on the upcoming holiday shopping season.

What the White House didn't say in the official announcement—but what the action obviously indicates—is that Americans are clearly paying the costs associated with President Donald Trump's trade war.

In fact, Trump even said as much while speaking to reporters on Tuesday.

"We're doing this for the Christmas season," Trump said, according to The New York Times. "Just in case some of the tariffs would have an impact on U.S. customers."

Just in case! It's far from a definitive statement, but this seems like the first time since he launched the trade war last year that Trump has admitted someone other than China is paying for his tariffs. Pretty much everyone this side of Peter Navarro and Fox & Friends already knows that Americans are paying for the tariffs—tariffs are taxes, after all—but it's ever so slightly refreshing to see that the Trump administration might be awakening to economic reality.

But don't let your hopes get too high. Trump is still pushing forward with a plan to levy 10 percent tariffs on about $300 billion worth of annual imports from China before the end of the year, and there are already 25 percent tariffs on about $250 billion in annual imports.

The items that will be spared from the tariff list until December 15 include smartphones, video game consoles, speakers, computer monitors, and other consumer electronics, along with various items of clothing and footwear. Another list of items, including children's car seats, shipping containers, and Bibles will be permanently exempted from the planned tariffs, according to the Office of the United States Trade Representative.

"Today's announcement to delay imposing tariffs on Chinese imports of electronic goods, such as cellphones and laptops, is welcome news for American businesses and consumers," Neil Bradley, executive vice president of the U.S. Chamber of Commerce, said in a statement.

While Americans will be temporarily spared the estimated $1 billion tax increase on tech good imported from China, consumers and businesses will have to keep paying the president's other tariffs.

In June, Americans paid $6 billion in tariffs—one of the highest single-month totals, in nominal terms, in American history. Tariffs imposed by the Trump administration accounted for more than $3.4 billion of that overall total, according to a new analysis from Tariffs Hurt the Heartland, a coalition of business groups.

"It appears the administration understands that taxes on everyday products such as toys, clothes and electronics would be politically unpopular and hurt those who can least afford it," the group said in a statement released Tuesday. "Unfortunately, today's announcement doesn't address the vast majority of tariffs that are driving uncertainty, putting farmers out of business and causing small businesses to slow hiring. Instead of picking temporary winners and losers and holding the U.S. economy hostage, it is time to reach an agreement that finally puts an end to the trade war."

If Trump wants to give Americans a real Christmas present, he would set aside his foolish belief that China's behavior can be changed by imposing taxes on Americans. In the meantime, at least the president is starting to question the existence of Santa Claus.

Post Comment   Private Reply   Ignore Thread  

TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Deckard (#0)

the president is starting to question the existence of Santa Claus.

You mean he no longer believes in himself.Beware a greek bearing gifts, this was great advice long ago and you can extend it to Trump

paraclete  posted on  2019-08-14   9:40:16 ET  Reply   Trace   Private Reply  

#2. To: Deckard (#0)

Tariffs are hurting Americans! Trump should do something!
"Trump Delays Tariffs"
See? Trump lied and now admits tariffs are hurting Americans.

Trump can never win with these assholes.

misterwhite  posted on  2019-08-14   9:56:20 ET  Reply   Trace   Private Reply  

#3. To: paraclete, Deckard (#1)

For your consideration

www.americanthinker.com/b...ariff_pause_shows_hes_got _his_eyes_on_the_prize.html

A K A Stone  posted on  2019-08-14   9:56:26 ET  Reply   Trace   Private Reply  

#4. To: Deckard (#0)

"Just in case some of the tariffs would have an impact on U.S. customers."

Of course. China can either absorb the tariffs or add them to the cost of the product. We have no control over what China chooses to do.

misterwhite  posted on  2019-08-14   9:59:13 ET  Reply   Trace   Private Reply  

#5. To: misterwhite (#4)

China can either absorb the tariffs or add them to the cost of the product.

The demonstrates a lack of understanding of where tariffs are collected and from whom. A tariiff is paid upon entry by the owner of the goods, that is local business or the importer, it is a product cost but not to China but to the ultimate buyer should the tariff be added into the price, which is to be expected.

It may reduce demand for the product, but it is a tax collected from domestic business

paraclete  posted on  2019-08-20   2:09:13 ET  Reply   Trace   Private Reply  

#6. To: paraclete (#5)

A tariiff is paid upon entry by the owner of the goods

Correct. But it's up to that owner whether or not he will increase the price of his goods to the consumer, or simply eat the difference and take less profit. Or the owner may be reimbursed by China in part or in full.

misterwhite  posted on  2019-08-20   10:47:24 ET  Reply   Trace   Private Reply  

TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com