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P&G raising prices due to $1 billion in projected tariff costs

The day after tomorrow, July 31st, tariff cases will be argued before the federal court of appeals, the specialized court dealing with trade and other issues. The lower court has already found trump's actions illegal and issued an injunction.

The appeals court wrongly stayed the injunction until it received the briefs and heard the arguments. Those briefs were provided two or three weeks ago and they will hear the arguments Thursday.

This has gone on far too long and the courts have been negligent in dealing with Trump's illegal seizure of the taxing power of Congress. At this least it should end with the hearing having ALL judges present (11 or 12 of them). And hopefully the majority will have the spine to et the injunction take effect.

Of course, it will certainly be appealed to the Supreme Court by one of the party's and we will see they also endorse Trump as King, as they have done on other issues.
 
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The AntiDonald said:
Why do all the MAGAs just do a comparison on the one item in question when everything across the board has or is going up. Meats at all-time highs since prices were recorded. Especially beef.

Nothing has come down like Trump promised. And the less wealthy you are, the more the increases hurt. Where are those 50% cuts in energy across the board he promised 100 times on the campaign trail? Where are those reduced prescription prices like he promised 60,70,80,90% and more in reduced drug costs across the board?

Trump is a bullshitter. He says a whole lot of things and does the opposite. And MAGA believes every word.
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Inflation was already in the pipe from the last administration. Inflation is normal anyway. Hard to gauge the amount from any one action. P&G has stated the tariffs are only increasing the prices of some of their products 5%. Far lower than the scare tactics and lies the left claims.

So deny the facts as P&G presented them, and stick to your propaganda.
 
maxparrish said:
In the meantime, I subscribe to the "expert" version of Grok, Grok 4, to examine and evaluate academic studies, in particular the economic studies done of the effects of Trump's far more limited and modest tariffs on China in the first term:

Economic studies on the effects of the Trump administration's tariffs on China during his first term (2017–2021), primarily imposed under Section 301 of the Trade Act of 1974, have been conducted by institutions such as the National Bureau of Economic Research (NBER), the Peterson Institute for International Economics (PIIE), and the Wharton School, among others. These analyses, utilizing econometric models, trade data, and general equilibrium frameworks, generally conclude that the tariffs resulted in higher consumer prices, reduced trade volumes, and mixed macroeconomic outcomes, with net economic losses estimated at $7.2 billion to $51 billion annually for the United States. ...


Regarding the allocation of tariff costs, empirical evidence consistently shows that U.S. importers and consumers absorbed the majority—often estimated at 90% to 100%—of the tariff burden through elevated import prices, with Chinese exporters bearing minimal to no share via price reductions. For instance, an NBER study found that tariffs on Chinese goods led to full pass-through to U.S. import prices, with no significant absorption by exporters, resulting in consumer price increases of up to $1.5 billion for specific products like washing machines.

The effects appear... within 6 to 18 months as immediate price hikes, supply chain disruptions, and retaliatory job losses, particularly in export-dependent sectors. Long-term analyses, such as those from the Wharton School and IMF, project sustained negative impacts on GDP (reductions of 0.1% to 1%) and wages (down 0.5% to 5%), with persistent trade diversion rather than fundamental shifts. ...

On reshoring U.S. manufacturing, the tariffs demonstrated limited effectiveness, with studies indicating negligible or negative net impacts on domestic production relocation. Research from MIT and the Economic Policy Institute found that while tariffs stimulated some investments in protected industries (e.g., $15.7 billion in steel and 3,200 jobs), overall manufacturing employment declined by 245,000 positions due to higher input costs and retaliation. ...
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When tariffs are applied, they reduce trade. When trade declines, GDP declines. It's that simple.
 
Chomsky said:
When tariffs are applied, they reduce trade. When trade declines, GDP declines. It's that simple.
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It is simple, but for those who treat Trump as a demigod whose assumed intentions are "good", actual results don't matter. There magical thinking compels them to reject the laws of economics and have faith that "Jesus" Trump will deliver heaven on earth.

Trumpism is, at its most uncompromising, a dogmatic cult. After all, does anyone doubt that if Trump came back with NO Tariffs for any party and open markets the very same Trump worshipers wouldn't be singing his praises just as loudly as a champion of free markets?

Of course they would, and if they were honest with themselves, they would admit it.
 
Hey MAGA.

You want to understand how Donald Trump is screwing you and running up Energy prices? Watch this whole thing. But understand it includes math.



 
maxparrish said:
As I am a big coffee drinker I've been tracking prices the last six months. In the SF Bay Area, when I left six months ago, Yuban was 11.99 for a container. A few days ago I almost purchased Yuban here in Portland, at a Safeway, until I saw it was now 17.99.

I am stunned to see all the usual standard brands reflecting this price - its insane. Seriously Trumpers, it's one think to tariff products for which there are domestic alternatives but for Coffee (or bananas or any other tropical or out of season fruit)?

Dumb...dumb...dumb.
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I can't wait to see the domestic automotive components & sub-assemblies MAGA believes the repair shops, retailors, wholesalers, and manufactures, should be shifting to.

Today, Juan Valdez would not even be allowed to visit the country to sell his beans!


 
maxparrish said:
The day after tomorrow, July 31st, tariff cases will be argued before the federal court of appeals, the specialized court dealing with trade and other issues. The lower court has already found trump's actions illegal and issued an injunction.

The appeals court wrongly stayed the injunction until it received the briefs and heard the arguments. Those briefs were provided two or three weeks ago and they will hear the arguments Thursday.

This has gone on far too long and the courts have been negligent in dealing with Trump's illegal seizure of the taxing power of Congress. At this least it should end with the hearing having ALL judges present (11 or 12 of them). And hopefully the majority will have the spine to et the injunction take effect.

Of course, it will certainly be appealed to the Supreme Court by one of the party's and we will see they also endorse Trump as King, as they have done on other issues.
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I'm wondering how long it will take to get a ruling?
 
Lord of Planar said:
Inflation was already in the pipe from the last administration. Inflation is normal anyway. Hard to gauge the amount from any one action. P&G has stated the tariffs are only increasing the prices of some of their products 5%. Far lower than the scare tactics and lies the left claims.

So deny the facts as P&G presented them, and stick to your propaganda.
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Regardless - we are not getting down to our inflation target, causing us to keep our Fed rates high.

That the previous two months showed upticks in inflation, including a hefty 0.3% in JUN, does not seem to indicate interest rates coming down anytime soon. Not unless GDP dives, which it did last quarter. If so, that would then get us the dreaded stagflation!
 
Chomsky said:
I'm wondering how long it will take to get a ruling?
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That is the rub. Although I suspect that many or even most are ready to vote one way or another, it takes time to write and circulate the majority opinions and dissents. I can't see anything less than two or three weeks, and it could be months.

Still, the court acted as if this was a priority and in need of a decision - not wasting time with a three-judge panel and instead going right to en banc on an "expedited" basis.

The problem as I see it is Trump uses a strategy I have seen quite often, get in too deep to back out. An injunction would likely blow up all the deals that were unlawfully made while the courts were slow, a consideration that will taint any opinion.

There are a few bright spots, however. The trial court had both conservative and liberal appointments as judges, all three of them agreed that Trump's conduct was illegal. I also note that a number of scholars have contributed their thoughts at Volokh Conspiracy, all of which agree that on one or more basis Trump's actions were unconstitutional. They may disagree as to exactly why but their conclusions are still the same.

And the anti-tariff litigants have had other attorneys join their team, including two of the leading scholars on the constitution, one liberal and the other conservative.

Neal Katyal the Paul Saunders Professor at Georgetown University and the former Acting Solicitor General of the United States under the Obama Administration. He is a leading left-of-center constitutional law scholar, and has argued over fifty cases before the US Supreme Court.

Michael McConnell is the Richard and Frances Mallery Professor and Director of the Constitutional Law Center at Stanford Law School, a Senior Fellow at the Hoover Institution, and one of the nation's leading conservative originalist constitutional law scholars. He is a former federal court of appeals judge, and has argued sixteen cases before the Supreme Court.

(I also note that McConnell has often been on the short list of GOP Presidents for a Supreme Court appointment).

And the most important bright spot is that the litigants are in the right - indisputably.

Michael McConnell and Neal Katyal Join Our Tariff Litigation Team

They are prominent legal scholars and Supreme Court litigators from opposite sides of the political spectrum.
reason.com reason.com
 
Lord of Planar said:
Inflation was already in the pipe from the last administration. Inflation is normal anyway. Hard to gauge the amount from any one action. P&G has stated the tariffs are only increasing the prices of some of their products 5%. Far lower than the scare tactics and lies the left claims.

So deny the facts as P&G presented them, and stick to your propaganda.
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5% to start. Glad MAGA loves inflation now! Once Trump's "baseline 10-15%" kicks in you'll be back to say prices only rose 15%
 
Just went to mcdonalds

Mcdouble meal is $5.50 now instead of $5

10% increase

Thanks Trump
 
Lord of Planar said:
Or is it the desired raises in minimum wages in areas?
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A place that sells beef raising their price? That's a surprise?

My favorite independent steakhouse has had to resort to listing a significant portion of their cuts as "market price"!
 
Chomsky said:
A place that sells beef raising their price? That's a surprise?

My favorite independent steakhouse has had to resort to listing a significant portion of their cuts as "market price"!
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I wonder how much of the beef price increase has to do with the AGW scare regarding cattle flatulence? Has there been more costs incurred in raising beef because of that?
 
Lord of Planar said:
I wonder how much of the beef price increase has to do with the AGW scare regarding cattle flatulence? Has there been more costs incurred in raising beef because of that?
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I can't say what's causing it. But I can say Trump's fallen short of solving it. Ditto for electricity. Ditto for Coffee.
 
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