Trump considering a 10% tariff on all imports to the U.S.

[speak easy]

... inflation fighting at its best

Let’s shift to the economy, sir. You have floated a 10% tariff on all imports, and a more than 60% tariff on Chinese imports. Can I just ask you now: Is that your plan?

Trump: It may be more than that. It may be a derivative of that. A derivative of that. But it will be somebody—look when they come in and they steal our jobs, and they steal our wealth, they steal our country.

When you say more than that, though: You mean maybe more than 10% on all imports?

Trump: More than 10%, yeah. I call it a ring around the country. We have a ring around the country. A reciprocal tax also, in addition to what we said. And if we do that, the numbers are staggering. I don't believe it will have much of an effect because they're making so much money off of us. I also don't believe that the costs will go up that much. And a lot of people say, “Oh, that's gonna be a tax on us.” I don't believe that. I think it's a tax on the country that's doing it. And I know. Look, I took in billions of dollars from China. Nobody else ever did anything on China. I also let people know what the threat of China was. China was going along making $500 to $600 billion a year and nobody was ever even mentioning it until I came along. What's happening in Detroit is very sad because electric cars with this EV mandate, which is ridiculous, because they don't go far. They cost too much and they're going to be made in China. They're all going to be made in China.

https://time.com/6972022/donald-trump-transcript-2024-election/

[budkin]

1. Inflation quickly multiplied by a hundred times with this plan

Insanity. Biden needs to hammer this home.

[former9thward]

6. How can Biden do that?

Biden wants to triple tariffs.

Biden calls for a tripling of tariffs on Chinese steel as he makes economic pitch in Pittsburgh

Speaking from the United Steelworkers headquarters, Biden called on United States Trade Representative Katherine Tai to “consider tripling” the existing 7.5% tariff rate on Chinese steel and aluminum through a review of the Section 301 tariff rate, pending the conclusion of a four-year review.

Officials expect the ongoing review to be completed “soon,” and Tai could take action to “(enhance) the effectiveness” of the tariffs based on its findings, a senior official said.

https://www.cnn.com/2024/04/17/politics/biden-tariffs-chinese-steel-economic-pitch/index.html

[ProfessorGAC]

12. However, He Did Not Make The Silly Claim...

...that prices wouldn't be affected.
So, Biden's proposal & TFG's musings are apples & oranges.

[former9thward]

14. What did he say would happen to prices with a tripling of steel tariffs?

[ProfessorGAC]

25. Whoosh!

I'm sure you just heard that soubd.

[FarPoint]

2. I guess the only reason we are seeing this here is...

one is identifying tRump trash talk that will please his base.....not that this claim would ever come into his reality....

so...it's trash...

[former9thward]

7. What would not come into reality?

[C_U_L8R]

3. Who pays? You pay!

Trump is a fucking idiot. And anyone who votes for this clown is even worse.

[former9thward]

8. Biden wants to triple tariffs.

Biden calls for a tripling of tariffs on Chinese steel as he makes economic pitch in Pittsburgh

https://www.cnn.com/2024/04/17/politics/biden-tariffs-chinese-steel-economic-pitch/index.html

[CelticCrow]

23. Tariffs have a particular purpose

They are used to protect against particular circumstances such as the Chinese government subsidizing it's steel manufacturers to be able to dump the product into markets at prices US companies can't possibly compete with in order to drive those companies out of business. Tariffs can be used to level the playing field so that customers can choose between US and Chinese steel.

China doesn't pay anything on the tariffs, the importer pays the tariff so unless it's a Chinese company importing goods from China there's no impact. The importer will obviously push those costs down to the consumer, they won't just take one for the team. So blanket tariffs like Trump is wanting to do will just raise prices on a huge number of goods for everyone since we let a lot of our manufacturing capability go away.

[Progressive dog]

29. When US companies price things below cost

to drive competitors out of business, they are breaking the antitrust laws. US companies that do this can be broken up. Since we have no control over Chinese companies, we have to use tariffs.
Taxes on steel and aluminum are not the same as taxes on everything imported from China. Your headline is false.

[former9thward]

32. There are tariffs on almost everything.

Not just China but most countries. Averages 2 to 3% with some categories up to 18%. But don't take my word on it. The WTO says it.

https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdf

And no, I don't see the difference between "everything" and "steel". Steel goes into a vast number of industrial and consumer products.

[Progressive dog]

33. IYu can't see va difference between

steel and everything? Okay.

[former9thward]

35. You are either a free market proponent or a protectionist.

I am a protectionist. When Trump put the tariffs on steel in China, I thought that was a good thing. When Biden kept all the Trump tariffs and raised some of them, I thought that was a good thing. I don't change my views depending on what President is in office. YMMD.

[Progressive dog]

36. No you don't have to be either a protectionist or proponent of free trade.

Just as steel is not our only import from China, there is a lot of distance between protectionism and free trade.

[former9thward]

37. I have posted the WTO sheet on U.S. tariffs at least twice in this thread.

All products from China have tariffs on them.

Averages 2 to 3% with some categories up to 18%.

https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdf

[Progressive dog]

38. And who said it didn't?

Your present post was about steel (at 7.5% tariff) being tthe same as all imports from China.

[former9thward]

39. What is the correct tariff for products from China?

[Progressive dog]

40. What does that have to do

with steel imports from China being the same as all imports from China?
But, to answer your question, I would need a lot more data about each individual import, the capacity of the USA to compete with that import, the necessity of that import to our defense, and probably a lot of other things that experts in economics and foreign policy should be asked. That is why the government doesn't hire people off the streets to set tariffs.

[Freethinker65]

4. Trump threatens to raise tariffs to get "favors", if countries call his bluff, poor Americans suffer the most.

Trump is ok with that.

Depending on the tariff, some farmers and US businesses also suffer consequences. Of course, higher prices are passed onto consumers.

[former9thward]

9. Both candidates want to increase tariffs.

Biden calls for a tripling of tariffs on Chinese steel as he makes economic pitch in Pittsburgh

https://www.cnn.com/2024/04/17/politics/biden-tariffs-chinese-steel-economic-pitch/index.html

[speak easy]

11. This is a 10%. tariff on ALL imports

[former9thward]

13. And???

The poster I replied to complained tariffs were bad for poor people. If that logic were true, are you saying a tripling of tariffs on steel would not be bad for poor people?

[speak easy]

17. "Both candidates want to increase tariffs" is a both sides argument.

And it's wrong in terms of real world impacts. Trump wants a 10% minimum tariff on ALL imports, and a 60% tariff on ALL imports from China. - not just steel.

[Kingofalldems]

18. I guess the poster missed that huge point.

Thanks.

[former9thward]

19. You seem to be unaware Biden has kept Trump's tariffs on various products.

For the last three and a half years. Not just China but Europe and other areas. What is the upper limit for good tariffs?

[LiberalFighter]

21. There is a difference between a tariff on everything vs just on Chinese steel.

[former9thward]

24. Biden has a tariff on almost everything.

Averages 2 to 3% with some categories up to 18%.

https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdf

And no, I don't see the difference between "everything" and "steel". Steel goes into a vast number of industrial and consumer products.

[Meadowoak]

5. I wish he would hurry up and flee the country.

[ProfessorGAC]

10. Utterly Clueless

A 10% or more tariff won't raise prices because the exporter will just eat it? That shows an utter lack of how companies that actually make stuff operate. That's immensely dumb.

[MorbidButterflyTat]

15. A baboon flinging poo

is more coherent and relevant than that idiotic fool.

[Emile]

16. That's how he crashed the economy during his presidency

talking that stupid shit.

[LeftinOH]

20. Those aren't even answers - it's just more gibberish. n/t

[Torchlight]

22. "Because the Smoot-Hawley Tariff Act was soooo successful."

He wrote with his eyes rolling so loudly, they could be heard in Versailles.

[no_hypocrisy]

26. JFC, almost everything we buy is imported, including produce.

[walkingman]

27. Wonder what the Tea Partiers will think about this? After all it will mean

propping up the various businesses like he had to do with the Agriculture sector last time? And it has to be inflationary?

[MistakenLamb]

30. they'll just blame minorities or "Rothschild bankers "

[sop]

28. Trumponomics

Don't think this will get him nominated for the "Noble Prize" in economics.

[sakabatou]

31. And we'd enter ANOTHER Trump recession

[dalton99a]

34. The cult will appreciate the new prices at Walmart