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Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, b

Chomsky

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President Donald Trump Thursday tweeted that "billions of Dollars are pouring into the coffers of the U.S.A. because of the Tariffs being charged to China, and there is a long way to go."

But the Trump administration's higher tariffs on Chinese imports are just a drop in the U.S. fiscal bucket, according to the latest financial statements from the Treasury.

Tariffs collected in the latest fiscal year ended Sept. 30 rose by less than $7 billion from fiscal 2017, according to the Treasury. That is less than 0.2 percent of the $3.3 trillion the Treasury took in during the latest fiscal year.

Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket

I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.

But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:

"China" is not being "charged" billions! Americans are being taxed billions!

Am I the only one that sees this? Am I wrong, here?
 

PeteEU

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nope not wrong.. tariffs punishes the consumer more than the companies involved and certainly not the country involved.
 

Mycroft

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Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket

I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.

But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:

"China" is not being "charged" billions! Americans are being taxed billions!

Am I the only one that sees this? Am I wrong, here?

Whether you are wrong or not depends on if US consumers are indeed picking up the cost. Have prices for Chinese goods that are affected by the tariffs being passed on?
 

OlNate

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Whether you are wrong or not depends on if US consumers are indeed picking up the cost. Have prices for Chinese goods that are affected by the tariffs being passed on?

No, they're eating the cost cuz they love you guys so much.... :lamo

Can confirm, from my job as a logistics analyst in the automotive industry, tariffs being charged are being recovered in the form of sur charges. Tariffs are only good if there is a competitive domestic alternative. There isn't. Have fun paying more for nothing... :shrug:
 

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Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket

I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.

But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:

"China" is not being "charged" billions! Americans are being taxed billions!

Am I the only one that sees this? Am I wrong, here?

Not only that, but besides the billions created from tariffs, there will be billions of dollars worth of Soybeans rotting in piles very soon. Dumb is where you find it, eh?
/
 

DaveFagan

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Whether you are wrong or not depends on if US consumers are indeed picking up the cost. Have prices for Chinese goods that are affected by the tariffs being passed on?

Pull your head out before you suffocate. Of course they're being passed on. That's what Capitalism is about. What are you? A socialist or pinko Corporate Welfare Queen?
/
 

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Not only that, but besides the billions created from tariffs, there will be billions of dollars worth of Soybeans rotting in piles very soon. Dumb is where you find it, eh?
/

Nah, soymilk prices will come down, hurting the dairy farmers even more.
 

celticwar17

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nope not wrong.. tariffs punishes the consumer more than the companies involved and certainly not the country involved.

So do any taxes lol...
 

Helix

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Trump claims

Generally, that indicates that whatever follows is bull**** or at least highly misleading.
 

Mycroft

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No, they're eating the cost cuz they love you guys so much.... :lamo

Can confirm, from my job as a logistics analyst in the automotive industry, tariffs being charged are being recovered in the form of sur charges. Tariffs are only good if there is a competitive domestic alternative. There isn't. Have fun paying more for nothing... :shrug:

I appreciate you sharing your insight, but I'd rather see actual numbers. For example, prices on Chinese goods sold in the US and bought by US consumers.
 

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Whether you are wrong or not depends on if US consumers are indeed picking up the cost. Have prices for Chinese goods that are affected by the tariffs being passed on?
Interesting point. But remember, the profits & jobs lost are not just Chinese but American.

It seems either Americans pay more:

(Newsweek) U.S. CAR PRICES SET TO INCREASE DUE TO TRUMP'S CHINA TARIFFS, EXPERTS WARN

Or Americans and American companies lose jobs:

(Fortune) Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says
 

Visbek

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I appreciate you sharing your insight, but I'd rather see actual numbers. For example, prices on Chinese goods sold in the US and bought by US consumers.
I may be wrong, but I doubt anyone is tracking that kind of information in that kind of detail. There's too many products sold by too many vendors.

In contrast, a 25% tariff on imported autos will be very easy to track. Although it's a big business, the number of auto manufacturers is quite small, and the industry is heavily scrutinized.
 

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Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket

I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.

But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:

"China" is not being "charged" billions! Americans are being taxed billions!

Am I the only one that sees this? Am I wrong, here?



When has Trump ever told the truth?
 

Chomsky

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No, they're eating the cost cuz they love you guys so much.... :lamo

Can confirm, from my job as a logistics analyst in the automotive industry, tariffs being charged are being recovered in the form of sur charges. Tariffs are only good if there is a competitive domestic alternative. There isn't. Have fun paying more for nothing... :shrug:
In addition to the bolded, America is no longer a dominate consumer market any more. The Chinese growing middle class (400M+) is 3X the size of America's middle class, and their vehicle market demand is 2X America's and growing stratospherically (along with their wages).

When the American government taxes components and raw materials (ex: steel) for American automakers, you are additionally forcing more to relocate near their major consumer base (China). Why would they stay here, and try to export at higher costs, when they can be closer to their consumer and have access to cheaper materials (in China)?
 

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Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket

I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.

But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:

"China" is not being "charged" billions! Americans are being taxed billions!

Am I the only one that sees this? Am I wrong, here?



He has also said Canada us stealing from you, that we are "cheaters". So, he knows how to be a school yard bully, but when ONE manufacturer plan to lose 15,000 jobs BECAUSE of the tariffs you can hardly say that the US is winning.

Chinese people complain about tariffs they get shot or re-programmed. They can stand there and takes hits for decades...the USA is already closing plants.

Mr Trump is clearly living in his own world he has created for himself where he never makes mistakes and everything always goes his way to the point of being "the greatest..."

So I'll watch what China does as so far they're winning, THEY haven't announced the loss of 15,000 jobs and I doubt they will have to,
 

Chomsky

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Not only that, but besides the billions created from tariffs, there will be billions of dollars worth of Soybeans rotting in piles very soon. Dumb is where you find it, eh?
/
And the longer this goes on, the more established the Chinese-South American soybean production infrastructure becomes. If the American tariffs get removed in the future, they will have to re-establish that relationship, but meanwhile the South American infrastructure and supply lines have grown and become more efficient and established. It's reasonable to assume some of that business may not return.
 

Chomsky

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Nah, soymilk prices will come down, hurting the dairy farmers even more.
Some will still rot though, because they are not being exported (as usual). There's only so much domestic demand.

Then the administration, in an effort to avoid political repercussion, will give the farmers additional welfare from our taxes, thereby buying their votes. Such a deal!
 

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Whether you are wrong or not depends on if US consumers are indeed picking up the cost. Have prices for Chinese goods that are affected by the tariffs being passed on?

There's no question that consumers in the U.S. are picking up the tab for tariffs. There are always collateral victims in trade wars, and if China and the U.S. get into war, the victims are going to be the consumers of the United States, no one is going to win this war. It's like insanity breeding more insanity. More tariffs are going to have a multiplier impact; hurt the GDP, hurt the economy, hurt everything we stand for. Further tariffs will cause a chain reaction where retailers cut back orders, raise prices and lay off workers. Since September, the tariff rate on Chinese imports is 10% and on January 1st the rate increases to 25%. Tariffs of this magnitude will not only negate any increase from tax reform in worker's paychecks, but the combination of new taxes on consumers and retaliatory taxes on American exports has the potential to both depress consumer spending and slow down the economy.

We really shouldn't be so oblivious to how our trade policies affect our day-to-day life that we blindly accept whatever propaganda we're fed. Look for the numbers, look for the statistics and lastly look for facts presented by the world's leading economic experts.
 

Chomsky

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He has also said Canada us stealing from you, that we are "cheaters". So, he knows how to be a school yard bully, but when ONE manufacturer plan to lose 15,000 jobs BECAUSE of the tariffs you can hardly say that the US is winning.

Chinese people complain about tariffs they get shot or re-programmed. They can stand there and takes hits for decades...the USA is already closing plants.

Mr Trump is clearly living in his own world he has created for himself where he never makes mistakes and everything always goes his way to the point of being "the greatest..."

So I'll watch what China does as so far they're winning, THEY haven't announced the loss of 15,000 jobs and I doubt they will have to,
Did you see this?

(Fortune) Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says


A downturn is due, and I'm seeing a reasonable chance it occurs next year.
 

OlNate

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I appreciate you sharing your insight, but I'd rather see actual numbers. For example, prices on Chinese goods sold in the US and bought by US consumers.

Hehe...too bad this is an anonymous debate forum, otherwise I'd send you a scan of the invoice I'm holding in my hands right now, that clearly shows an itemized line for the surcharge, giving "New American tariffs" as the description.

You don't need numbers. Just use your common sense for a sec. What kind of company does not pass incremental costs onto their consumers? When gas prices went crazy a few years ago, we saw our grocery bills go through the roof? Was that because pineapples were suddenly, by some kind of coincidence, worth more? No, the carriers were charging more to ship, because they had to cover increased fuel costs - the carrier did not eat that cost. Then the grocery stores raised the price of their produce - they did not eat that cost. Who paid it? We did. It's one of the most basic elements of making a profit - you must charge more than the cost of producing said product.

We talked about this plenty of times before....and you always seem to like to call me an idiot. Yet exactly what I said would happen is happening. Not because I'm some kind of financial wizard...you don't need to be. Just a bit of basic business understanding extrapolated to a much larger level.
 

Mycroft

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Interesting point. But remember, the profits & jobs lost are not just Chinese but American.

It seems either Americans pay more:

(Newsweek) U.S. CAR PRICES SET TO INCREASE DUE TO TRUMP'S CHINA TARIFFS, EXPERTS WARN

Or Americans and American companies lose jobs:

(Fortune) Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says

This has nothing to do with whether tariffs on Chinese goods have been passed on to American consumers.
 

Mycroft

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I may be wrong, but I doubt anyone is tracking that kind of information in that kind of detail. There's too many products sold by too many vendors.

In contrast, a 25% tariff on imported autos will be very easy to track. Although it's a big business, the number of auto manufacturers is quite small, and the industry is heavily scrutinized.

Are autos imported from China subject to a tariff?
 

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