Trump Will Aim For 60% Tariffs On China If Reelected

The Cost of Trump’s Trade War with China Is Still Adding Up | Council on Foreign Relations

Several studies have examined the cost of the Section 301 tariffs on the U.S. economy. For example, economists Mary Amiti, Stephen J. Redding, and David Weinstein showed that by the end of the first year that the tariffs were in place, U.S. real income declined by $1.4 billion per month. More recently, trade analysts Tori Smith and Tom Lee from the American Action Forum found that U.S. consumers largely bore the brunt of the tariffs, paying a total of $48 billion—with half of this figure paid by U.S. firms that rely on intermediate inputs from China. A recent report by the United States International Trade Commission agreed that the cost of the tariffs was passed through to U.S. importers. Back in 2019, President Biden also agreed, stating, “Trump doesn’t get the basics. He thinks his tariffs are paid for by China. Any beginning econ student at Iowa or Iowa State could tell you the American people are paying his tariffs.”

The comments submitted to the USTR should then come as no surprise: many firms listed how the tariffs have led to a decrease in wages and employment, as well as less investment in domestic research and development (R&D). Firms have also noted the difficulty in sourcing alternative inputs, the added challenges posed by retaliatory tariffs from China, and the lack of concrete change to China’s behavior since the tariffs’ implementation. The costs are varied but significant.

 

Indeed, they are adding up. China's economy hasn't been the same since they were introduced and they are still trying to find their footing. Their economy has taken a trillions of dollars hit. I know that's bad news for you, but to me, sounds like mission accomplished.

 

This poster clearly doesn't understand the "American consumers bore the brunt of the tariffs" lines from these stories.

Trump Tariffs have the same purpose as his PPP loans did--to enrich his buddies out of the pockets of everyday Americans.

 

The US tariffs had little to do with China's economic problems which are the result of being over leveraged and the self-inflicted pain from its multiple years of near total lockdowns from its misguided response to Covid.
China’s Economy Stumbled Last Year With Covid Lockdowns Hobbling Growth (Published 2023)
The End of the Debt Bubble Has Put the Chinese Dream On Hold
https://www.reuters.com/breakingviews/chinas-growth-is-buried-under-great-wall-debt-2023-09-13/

 

Sort of like a rooster taking credit for the sunrise re: Trump's tariffs taking down the Chinese economy.

 

The tripartate agreement Biden led with Japan and South Korea this past year enhances the US economic and security leadership role in the APAC region. The agreement will expand markets and reduces China's influence in the region and allows security information sharing to more effectively deal with N Korea. This is a win win approach, without having the damaging consequences of trade wars. It takes leadership and hard work by everyone to reach these agreements, especially getting Japan and S Korea to work together due to the historical relationship. Trump never understood the power of diplomacy or it didn't fit into the authoritarian playbook, but Americans are much better served with unified allies.

 

Grownups understand win-win relationships. Idiots and wannabe dictators only understand win-lose ones.

 

If the corporations leave China they'll probably go to other countries rather than the USA. Vietnam is one country that comes to mind.

 

How do you think China will beat the USA in a war? Please expand on your statement.

 

Well, they did. As soon as the tariffs were rolled out, China's stock market sank like 50%. Any adverse affect on American consumers was far outweighed by the sharp downturn in China. Fact.

 

Where are you seeing that? The 10 yr chart for the Shanghai index is relatively flat from 2016 to present - usual ups and downs but nothing like 50% after the tariffs were announced.

 

Yeah there's nothing close to 50% drop. As per usual, Okee has no idea what he's talking about.

 

Why in god's name would we want to take down China's economy? That only exacerbates the pain. It's not about an offset, more like a pile on.

 

I was wondering that too. If the worlds second largest economy crashes, is that supposed to be good for us?’

 

I'm afraid that China is to foreign policy what drag queens are to domestic policy. God, I recall a pub prez debate a good while ago. Huntsman's ans on China was so brilliant while all the other candidates vilified China & tried to out do 1 another on how they would shit on China. I think we're gonna see that on steroids.

 

This isn't real. Is that parody poster back?

 

I made what you may call some major adj to my portfolio today given that I think Trump is likely to win in nov & likely to "fix" an imaginary problem with more awful econ policies. Why is that sig. I rarely ever make "adj". ex. I have paid $0 in cap gains taxes in my life & I have been buying stocks since 1997 & have sold 3 stocks & that was to buy a condo 15 years ago. Schwab makes about $20 a year off of me.

 

The S&P China 500. In January 2018, it was near 4,000. By January 2019, it had dropped to 2,580. Even more, it's lower today than January 2019 at 2,317 with Trump's tariffs still intact. So nearly 50%. By comparison, the U.S. S&P 500 was at near 2,800 in January 2018. Today we're pushing 5,000. So yeah, I'd say America has gotten the best of China with the Trump tariffs.

 

If you are the sort of person who believes China is poised to become a geopolitical threat to its neighbors in the Eastern Pacific, the best way to get a jump on that is to deal a serious blow to their economy. Without an economy, you can't fund a strong military as easily. A superpower needs population and economic growth to maintain its status.

 

Yep, we should prop them up at all costs and dismiss that Taiwan rhetoric out of hand.