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Economy
Get Ready For Higher Prices If New Tariffs Hit Goods From China, Retailers Warn
2019-08-06
[NPR] Higher prices will be coming to stores this fall, retailers warn, if President Trump follows through with his threat to slap new tariffs on Chinese imports.
The End is Near.... according to NPR, Target, COSCO, Walmart, etc.
The White House pressed the tariff threat on Friday, even as Trump announced a new agreement aimed at boosting beef exports to Europe. A day earlier, Trump threatened to set a new 10% tariff on $300 billion worth of products imported from China.

Rising trade tensions prompted another sell-off on Wall Street on Friday. The Dow Jones Industrial Average closed down nearly 100 points, or 0.4%, recovering from steeper losses earlier in the day.

More than 40% of all the clothes sold in the United States are made in China, as are nearly 70% of the shoes and 88% of the toys.

Trump Ratchets Up U.S.-China Trade War With More Tariffs; Stocks Slide

These items have been largely untouched by the tariffs the president has already imposed on China over the past year. But they'll almost certainly be on the target list if additional tariffs are imposed Sept. 1.

Related: CNN - First on CNN Business: 600 companies including Walmart, Costco and Target warn Trump on tariffs
Posted by:Besoeker

#21  or sheetrock or baby formula
Posted by: chris   2019-08-06 20:00  

#20  How much will their poisoned dog food cost?
Posted by: Regular joe   2019-08-06 19:24  

#19  Out: Left hates Walmart for selling shoddy plastic goods.
In: Left decries higher prices on Chinese-made shoddy goods.
Posted by: ruprecht   2019-08-06 13:12  

#18  Here's a thought: all the lefty billionaires posturing and preening about racism could commit their firms' shifting some significant amount of their production to American counties where the minority unemployment rate exceeds 10%.

I.e. the likes of Apple, Nike, Disney etc would produce some significant % of their iPhones, Jordans and Frozen or Avengers Action Dolls in West Baltimore. Detroit. New Orleans. East St. Louis. Cleveland. Newark. Memphis. Oakland. S. Central LA.

Start doing some good for actual Americans.
And STFU.
Posted by: Lex   2019-08-06 12:06  

#17  Kitai delenda est
Posted by: Lex   2019-08-06 11:54  

#16  and that is only until the shoe factories in other countries gear up to replace the Chinese shoes
Posted by: lord garth   2019-08-06 11:45  

#15  as Besoeker noted, US gets about half of its footwear from China

so what happens

say the cost at the Port of Entry is $10.00. The current duty is about $1.50. Post tariff the duty plus tariff would be $4.00. So, assuming a $40 for logistics, marketing, celebrity endorsers, buying off the groups that would otherwise protest the slave labor, profits, etc. the final price would be $54.00 instead of $51.50.
Posted by: lord garth   2019-08-06 11:44  

#14  It's been a long time coming and it'll be well worth it.
Posted by: Abu Uluque   2019-08-06 11:40  

#13  By what mechanism does this tariff remove chinese supply?

It does not, it only raises chinese prices relative to others, therefore we should merely see a substitution to other suppliers.
Posted by: Bright Pebbles   2019-08-06 09:45  

#12  Any US company that does business in China and doesn't have a back-up plan deserves all the pain it will get.
Posted by: Chereting Pelosi1889   2019-08-06 09:25  

#11  Good. Bringing the jobs home.
Posted by: Woodrow   2019-08-06 09:12  

#10  Rubber from SE Asia, assembled in Portland, OR. Damn good product.
Posted by: Besoeker   2019-08-06 08:37  

#9  Almost nothing made in China cannot just as easily and nearly as cheaply be made in Vietnam, India, the Caribbean or Mexico.

Those nations' exports to the US are already soaring: good. Keep it up. Break the back of China's domination of our supply chain.
Posted by: Lex   2019-08-06 08:31  

#8  If you lock the border up, then when this would happen should correspond to drops in welfare, food stamps, et al. Thus reducing the cost in tax burden (matched by a reduction in bureaucracy). However, given the propensity of politicians to spend, spend, spend, it isn't going to happen.

As alluded to, we'll have to make choices. Prioritize our spending accordingly. Any retailer that has made a 'critical' product dependent upon China should pay the price for doing so in the marketplace.

BTW, what are they going to do if Beijing does another Tienanmen Square in Hong Kong and a grass roots movement engages in a boycott of "Made in China".
Posted by: Procopius2k   2019-08-06 08:28  

#7  Zen signboard teaching 'Embrace unpredictability'.

Posted by: Dron66046   2019-08-06 07:28  

#6  Price is set by demand...

Profit is set by the difference.

Just trying to get consumers to accept a price hike.
Posted by: Bright Pebbles   2019-08-06 06:21  

#5  Don't turn over manufacturing of critical items to your enemy.
Posted by: Chesney Mussolini1310   2019-08-06 05:18  

#4  And what if some of those eggs are life-saving drugs?
Posted by: gorb   2019-08-06 04:09  

#3  Something to be said for not putting all of one's eggs in one basket. Especially a basket controlled by enemies.
Posted by: Flereger Phomosing2909   2019-08-06 02:31  

#2  Parent manufactured toy. Some initiative and assembly required.
Posted by: Besoeker   2019-08-06 01:03  

#1  More than 40% of all the clothes sold in the United States are made in China, as are nearly 70% of the shoes and 88% of the toys.

Take Away: Clothes, shoes, and some toys can still be purchases elsewhere.
Posted by: Besoeker   2019-08-06 00:55  

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