Hell, we don't care about poor people here, whe don't care about poor people a couple thousand miles south of us.... why would we care about the ones across an ocean?

That's not necessarily the "large cost" I'm talking about. The tariffs would not be one way. There will be repercussions. China is a huge market for us as well, losing that market for our goods and services is the "large cost" I'm talking about. Not the cheap goods.

I wonder if Bush wanted a recession before the election or just didn’t see to it.

Tariffs are a tax. We pay it not China. Republicans used to be against taxes.

Another issue is while China can simply not buy from us due to their economic system, we will continue to buy from them due to ours. They have more direct control.

Sprinkle in their penchant for long term thinking and patience this doesn’t end well.

Specifically republicans used to be any tariffs until they sold their soul

Anti.

I hear this repeated a lot despite there being no truth to the latter part...

Let's say you and Victor and Frank each have lemonade stands... A cup of lemonade costs fifty cents to make And is sold for a dollar...

But you decide to start stealing your lemons, thus reducing your overall cost of a cup of lemonade to twenty five cents...

So now, you start selling your lemonade for the same price it costs Victor and Frank just to make the lemonade... They're gonna go out of business and many others already have...

I step in as block captain and say "from now on, if you use stolen lemons to make your lemonade, I'm coming around and charging you fifty cents a cup for the right to sell your tainted lemonade in this neighborhood"...

Who's paying the tax, Victor and Frank? The people buying their lemonade? Or you and the people buying your lemonade?

"and the people buying your lemonade"....
Opel... You just argued against yourself.
We are the people who will pay the tariff. Because we are the people currently getting cheap goods from China.

A fully accurate breakdown would require looking at the specific industry, the percentage of tariff, and the current us capacity in that industry... But the simplest statement while retaining the highest accuracy would be to say we will pay it. (It isn't 100% accurate, but closest)

Other potential outcomes are simply loss of sales. If you add a tariff of 500% to TV's and we don't have local manufacturing, we'll likely see a drop in sales. So no one is paying the tariff... And no money is coming into the coffers.

If it's an industry with local production, then there will be a shift of some percentage to local product. Again, no tariff is paid, but local manufacturing is helped. Some percentage of people will still purchase the higher priced imported goods. These people will be paying the tariff.

Some goods may be able to have their price dropped to remain competitive... My experience in industry in general indicates that this will be made up through cost cutting measures... In which case that Asian slave labor will be paying a percentage of the tariff....

Sutthere are other scenarios... But by far the simplest summary would be the US consumer.

Sigh. We don’t need a long hypothetical when fact is out there. Even Mnuchin admits we pay it.

It’s an import tax. Importers pay it not the exporter. If you want to bring products in from China you will pay more for them. It’s intentional to discourage you from buying them.

China gets the same coin they just may sell less to us.

We pay the difference and the only real impact to China is perhaps volume. You could argue they may lower prices to maintain volume but that’s totally up to them. We have no control there.

This is basic stuff. No real economists or business folk are debating it. It’s just a fact.

It’s like a sin tax to change behavior.

Ya, kinda... If a sin tax was intended to get you to switch from one brand of cigarette to an environmentally safer, more humanely produced cigarette... So you know... Nothing like a sin tax...

You might not like the hypothetical because it makes you question where you're buying your lemonade from, but the analogy is apt....

Those who continue to purchase slave produced goods will pay the tax...

Nah. I just know what a tariff is and how it works and who pays it.

As for the sin part I only meant it’s to change behavior. Why and who decides wasn’t on my mind.

Im also not placing a value judgement in this context. Just trying to be factual.

We should buy more American, there are bad things happening in China etc. that’s a different issue than who pays the tariffs. Who pays the tariffs is simply a fact. The rest is opinion and definitely debatable.

Meh. The Republican Party is now supporting taxes. Up until recently they opposed these specific taxes. They are entitled to change their minds. But they should embrace it if they feel it’s right rather than pretending it’s something else. Makes one think they really do t embrace it.

By the way your post in 51 describes a sin tax. The devil is in who decides which behavior is good and which is bad.

Up 300+ today.

Meh.

needed a good uptick...a week of two of steady drops is scary...

and with all the business world talking heads warning about the trade war with China heating up...

hope it was just a Chinese fire drill...

That was.... Terrible.

Oh man, you gotta diet... I blame chik fil a...

it would make more sense for me to buy out tw and victor.

in the list of large untapped emerging markets, Africa was not mentioned.
China has been paving roads deep into the continent while we snooze.

and they just negated the effect of tariffs with their currency devaluation...which may fuel a recession here...which the movers and shakers of the stock market reacted to emphatically...oy! my 401K bled some today.

I'm one of the least knowledgeable people here on the subject of economics, but my sense is that China is a step ahead of us in this trade war.
I'd prefer peace.