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Who wins the trade war with China

Original post made by Jack Hickey, Woodside: Emerald Hills, on Sep 6, 2019

What am I missing here? If China and the U.S. reciprocate on a 5& tariff, where does the money go? Don't both China and U.S. regimes fill their coffers without raising taxes on We the People?

Why didn't they think of this before? They could pay off the national debt, provide free medical care to everyone, etc.

Comments (18)

15 people like this
Posted by Yack
a resident of Woodside: Family Farm/Hidden Valley
on Sep 6, 2019 at 4:19 pm

Costs are passed on to consumers. Also, ask American farmers, exporters, etc.. Worse, there is no plan - tariffs are announced and then rescinded haphazardly. (August announcement of delayed tariffs till after the holidays, so consumers don't feel it this holiday season.)

"could pay off the national debt, provide free medical care to everyone, etc."

Started a little early this afternoon?


18 people like this
Posted by MAGA
a resident of Menlo Park: Downtown
on Sep 7, 2019 at 11:21 am

Seems to me that the trade war is just a scheme to manipulate the stock market. Simple Tweets push the stock market hundreds of points in either direction. We do not know what the final plan is going to be, so big corporations are reluctant to make big any big changes. Consumers and small companies are hurt by the price increases and no prices are going down.


1 person likes this
Posted by Jack Hickey
a resident of Woodside: Emerald Hills
on Sep 7, 2019 at 5:00 pm

Jack Hickey is a registered user.

You are missing the point. Government's collect tariff's. It's a windfall source of revenue. Yes, it is very taxing on consumers.


8 people like this
Posted by Yack
a resident of Woodside: Family Farm/Hidden Valley
on Sep 7, 2019 at 5:09 pm

> You are missing the point. Government's collect tariff's. It's a windfall source of revenue.
> ...could pay off the national debt, provide free medical care to everyone, etc.

Mere millions in short term tariffs are somehow going to overcome the Trump (bush-like) TRILLION dollar deficits?

I'm sorry, what point am I missing? Does this 'point' involve your math skills?


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Posted by Trump
a resident of another community
on Sep 8, 2019 at 11:23 am

Trump/the US will win the war. It will have a cost while the war is running. The cost over the long term will be far, far, far greater without the war...if China is allowed to continue stealing American IP. You may not like Trump, but this was the right move and it took guts. Again, the issue China refused to give on was continuing to steal our technology. This is unsustainable.


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Posted by Jack Hickey
a resident of Woodside: Emerald Hills
on Sep 8, 2019 at 4:44 pm

Jack Hickey is a registered user.

It is a revenue producer for both countries.


8 people like this
Posted by Vegan Terrorists
a resident of Menlo Park: other
on Sep 8, 2019 at 5:55 pm

It costs more than it produces. It's stupid. If Trump was serious, he wouldn't delay it until after the holidays.

And China has never stolen any of my IP.


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Posted by IP
a resident of Atherton: other
on Sep 8, 2019 at 6:16 pm

"And China has never stolen any of my IP."

Yet – assuming you pay taxes and are a consumer of technology – you have nonetheless paid for their thefts.


2 people like this
Posted by answer the question please
a resident of Menlo Park: other
on Sep 9, 2019 at 12:25 pm

Politics aside, the question was "Where does the money go?" This is a question I would like answered and it frustrates me that I don't hear it discussed anywhere. Aside from Trump continuously lying that China is paying the tariffs (US companies pay them) - can a rational, informed person explain where the tariff money that US companies pay to the US government goes?

Yes, it means higher costs for consumers, but it also means someone is benefitting and collecting this money? Is it funneled to private interests? the wall? military? If it was going to a worthy cause I'd think we'd hear about it. But I'd love to know where it's going and I'm guessing others would, too.


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Posted by Yack
a resident of Woodside: Family Farm/Hidden Valley
on Sep 9, 2019 at 1:19 pm

> but it also means someone is benefitting and collecting this money? Is it funneled to private interests? the wall? military? If it was going to a worthy cause I'd think we'd hear about it. But I'd love to know where it's going and I'm guessing others would, too.

"someone" is the treasury. And it's mice nuts, basically insignificant, except for the higher prices to American businesses and consumers.


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Posted by Jack Hickey
a resident of Woodside: Emerald Hills
on Sep 9, 2019 at 4:11 pm

Jack Hickey is a registered user.

"mice nuts?" Bat guano!

(Reuters) - The U.S.-China trade war intensified on Aug. 1 with U.S. President Donald Trump vowing to levy 10% tariffs on a remaining $300 billion (£247 billion) list of consumer goods imports from China starting on Sept. 1


2 people like this
Posted by Yack
a resident of Woodside: Family Farm/Hidden Valley
on Sep 9, 2019 at 4:24 pm

Jack: is that the one Trump already rescinded in a fit of pique? Or was it the other one?

So Jack is happy that American businesses and consumers will now pay billions more for goods and supplies. Jack - who's side are you on? Putin?

---

Worse, Trump is killing US manufacturing. Indexes have contracted to the weakest state since 2015.

"U.S. factory activity unexpectedly contracted in August for the first time in three years as shrinking orders, production and hiring pushed a widely followed measure of manufacturing to its lowest level since January 2016.

The Institute for Supply Management’s purchasing managers index fell to 49.1 in August ... The group’s gauge of new orders dropped to a more than seven-year low, while the production index shrank to the weakest level since the end of 2015."

Trump, like most GOP first term presidents, is driving the economy into a ditch.


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Posted by CyberVoter
a resident of Atherton: other
on Sep 10, 2019 at 12:35 pm

Let's be honest & clear. We put a "tariff" on US Manufacturers in the 80's & beyond when we allowed China to manufacture products without meeting the safety, work conditions & environmental standards that US manufactures had to meet. That drove jobs & profits to China.

Until China is willing to manufacture on a "level playing field", we must impose tariffs to rebuild our base. American workers can compete with anyone - IF the rues are equal.


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Posted by Alan
a resident of Menlo Park: Belle Haven
on Sep 10, 2019 at 2:33 pm

@Cybervoter - you're not wrong; the problem is, the tariffs being issued are arbitrary and unpredictable. If the country carefully builds a rationale to have a tariff on a specific product for specific violations of environmental, safety, and other commonly accepted principles such as unfair subsidies, and given the target country a chance to react, you're much likely to trigger a trade war when the tariffs are unpredictable. The point of organizations such as the WTO is to encourage fair play (you can argue if they do their job well). There had been some level of looking the other way when China played unfairly by past administrations; but the chaos of the current approach doesn't help anything.


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Posted by Yack
a resident of Woodside: Family Farm/Hidden Valley
on Sep 10, 2019 at 2:56 pm

> the tariffs being issued are arbitrary and unpredictable.

ya think?


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Posted by crib
a resident of Menlo Park: other
on Sep 12, 2019 at 8:57 pm

Q: Who wins the trade war with China?

A: Vietnam

Not us, certainly. Just speeding up the upcoming recession.


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Posted by Jack Hickey
a resident of Woodside: Emerald Hills
on Sep 13, 2019 at 12:24 pm

Jack Hickey is a registered user.

How much money does the U.S. government collect from those tariff's? Who controls the spending?


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Posted by crib
a resident of Menlo Park: other
on Sep 13, 2019 at 1:27 pm

Inane questions with simple answers only a click away....

> How much money does the U.S. government collect from those tariff's?
Not enough to make up for the costs to businesses, consumers, farmers, etc..

> Who controls the spending?
There's a rather old document with that answer and much more. If you want to skip to the spending part, start with this section: Article I, Section 8, Clause 1.

******

Trump is shoveling our tax dollars as corporate welfare to Big Ag as small farmers get killed by Trump's tariffs. How much? "A second stage of MFP was introduced this year, bringing its estimated total costs to at least $28 billion."

On it's way to $35 billion.


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