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Looks like Mexico's going to pay for the wall.
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MalibuGuru



Joined: 11 Nov 1993
Posts: 8594

PostPosted: Fri May 31, 2019 1:01 am    Post subject: Looks like Mexico's going to pay for the wall. Reply with quote

Too funny
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vientomas



Joined: 25 Apr 2000
Posts: 952

PostPosted: Fri May 31, 2019 7:53 am    Post subject: Reply with quote

In a toned-down and largely peaceable two-page letter, Mexican President Andrés Manuel López Obrador (AMLO) wrote to President Trump that he disagreed with his decision to add 5% blanket tariffs to all Mexican goods.

Details: "With all due respect, although you have the right to express it, 'America First' is a fallacy because until the end of times, even beyond national borders, justice and universal fraternity will prevail," AMLO wrote.

He added that Mexico wanted to avoid a confrontation with the U.S. on the issue of Central American migrants coming through Mexico to the U.S., and was doing "as much as possible" to stem the flow "without violating human rights."
What to watch: The Mexican president also ordered his foreign minister to travel to Washington on Friday and Jesus Seade, AMLO's trade negotiator, said that if the tariffs are implemented, "we should respond in a forceful way."

https://www.axios.com/trump-mexico-tariffs-amlo-response-letter-df6bff84-4b7e-4df5-bf4f-6c292b678ee2.html

Too Funny:

The Republican head of a key Senate committee says that President Donald Trump’s proposal to use new tariffs on Mexican goods to pressure Mexico to slow the flow of migrants to the border is a flawed strategy.

U.S. Senate Finance Committee Chairman Chuck Grassley of Iowa said late Thursday: “Trade policy and border security are separate issues.”

Grassley, whose committee would deal with a proposed trade agreement involving Mexico, said: “This is a misuse of presidential tariff authority and counter to congressional intent.” He said the proposal “would seriously jeopardize passage” of a new trade deal involving Mexico, the U.S. and Canada.

He urged the president to consider other options.

https://apnews.com/0e406b5b8a8c405491461188022a824c
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boggsman1



Joined: 24 Jun 2002
Posts: 7523
Location: at a computer

PostPosted: Fri May 31, 2019 8:48 am    Post subject: Reply with quote

Dumbest policy move since Herbert Hoover's price controls. Markets getting crushed, and the USMCA which was Trumps only "deal" is now a longshot. GM has 14 plants in Mexico, and will feel the pain.
...4 of Trumps negotiating partners were executed in March by his BFF in North Korea.
10 yr rallying to multi-year high, commodities cratering, steel companies going BK....
Worst. Negotiator. Ever.
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real-human



Joined: 02 Jul 2011
Posts: 11034
Location: on earth

PostPosted: Fri May 31, 2019 8:58 am    Post subject: Reply with quote

IT is a Tax that americans pay....

Malibu Barfie lies and is dumber than a rock. When malibu barfie speaks with his forked dumber than a rock tounge a stench comes out so bad that the stench is left for (four) generations...

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boggsman1



Joined: 24 Jun 2002
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PostPosted: Fri May 31, 2019 9:15 am    Post subject: Reply with quote

Navarro on CNBC, absolutely horrifying.
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nw30



Joined: 21 Dec 2008
Posts: 5932
Location: The eye of the universe, Cen. Cal. coast

PostPosted: Fri May 31, 2019 11:33 am    Post subject: Reply with quote

boggsman1 wrote:
Navarro on CNBC, absolutely horrifying.
Yes he is.
Trump is a man that doesn't quit, Mexico has already sent an envoy to DC.
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boggsman1



Joined: 24 Jun 2002
Posts: 7523
Location: at a computer

PostPosted: Fri May 31, 2019 11:49 am    Post subject: Reply with quote

nw30 wrote:
boggsman1 wrote:
Navarro on CNBC, absolutely horrifying.
Yes he is.
Trump is a man that doesn't quit, Mexico has already sent an envoy to DC.


Horrifying in that he made more than ten flat out lies. Here are a few:

Tariffs add to GDP, and reduce trade deficit. Not true.
China, and Mexico or any exporting country hit with tariffs pay for the tariffs. Not true.
The economy can handle the tariffs. Not true, without subsidies--many industries falter.
Steel industry has flourished since tariffs imposed in Jan 2018. Not true, US Steel, and AK Steel are trading as if BK is near.
Lastly, who cares if an envoy is in DC, Trump has not had a successful result with ANY trade deal since he took office, and with Mexico (our largest partner), many US businesses are at risk. Stupid policy from an ideologue.
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mac



Joined: 07 Mar 1999
Posts: 13102
Location: Berkeley, California

PostPosted: Fri May 31, 2019 1:09 pm    Post subject: Reply with quote

I knew he was incompetent, but I didn't know exactly how. We're beginning to find out.

Quote:
By Christopher Ingraham April 23
President Trump has repeatedly sought to portray his tariffs on Chinese goods as a major windfall for the U.S. treasury that has extracted “billions of dollars” from China. But the reality is that tariffs are typically absorbed by consumers in the form of higher prices.

And now a new study shows just how big that markup can be.

When economists at the University of Chicago and the Federal Reserve studied the 2018 duty on washing machines, they found the expected rise in retail prices from foreign manufacturers such as Samsung and LG. Surprisingly, though, these brands also increased dryer prices. Then domestic manufacturers followed suit, simply because they could.

All told, the research shows, U.S. consumers are spending an additional $1.5 billion a year on washers and dryers as a result of the tariffs. That’s an extra $86 for each washing machine and $92 for each dryer, the authors estimate.

And less than 10 percent of that goes to the U.S. treasury — about $82.2 million — the study showed.


The authors ran their analysis using weekly price data on appliances from the market research firm Gap Intelligence. If the tariffs cost $82 million but consumers are paying $1.5 billion, where’s the rest of that money going? Foreign manufacturers are passing some costs on to consumers, while domestic ones are simply pocketing extra profits, according to the study.


“In addition to increased profitability of the domestic manufacturers, one other reason for the gap are cost increases for the foreign manufacturers associated with relocating production to the U.S.,” according to researcher Felix Tintelnot of the University of Chicago.

Domestic manufacturers were able to do this simply because they don’t have much U.S.-based competition. “The market for washing machines is concentrated, and the domestic manufacturers certainly have market power,” Tintelnot said.

Manufacturers also capitalized on buyer habits when they bumped up the price of dryers, which were not subject to the tariffs. “Many consumers buy these goods in a bundle,” Tintelnot said. “Part of the price increase for washers was hidden by increasing the price of dryers.”
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coachg



Joined: 10 Sep 2000
Posts: 2776

PostPosted: Fri May 31, 2019 8:41 pm    Post subject: Reply with quote

You guys are wasting your time. You can't fix stupid, it is a physical & mental impossibility.



Coachg
Rolling Eyes
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real-human



Joined: 02 Jul 2011
Posts: 11034
Location: on earth

PostPosted: Fri May 31, 2019 9:21 pm    Post subject: Reply with quote

https://news.yahoo.com/trump-tariffs-equivalent-largest-tax-220700568.html

Trump’s Tariffs Equivalent to Largest Tax Hike in 25 Years: CNBC
The Fiscal Times
Michael Rainey
,The Fiscal Times•May 16, 2019
Quote:
Trump’s Tariffs Equivalent to Largest Tax Hike in 25 Years: CNBC
Many economists see tariffs as a tax that it is ultimately paid by consumers. Viewed that way, President Trump’s tariffs amount to the largest tax hike in more than two decades, says CNBC’s Steve Liesman.“A CNBC analysis of data from the Treasury Department ranks the combined $72 billion in revenue from all the president’s tariffs as one of the biggest tax increases since 1993,” Liesman wrote Thursday. “In fact, the tariff revenue ranks as the largest increase as a percent of GDP since 1993 when compared with the first year of all the revenue measures enacted since then, according to the data.”The revenue from Trump’s tariffs equals 0.34% of U.S. GDP, Liesman said, the largest increase in federal revenue from the first year of a single measure since the Omnibus Budget Reconciliation Act of 1993, also known as the Deficit Reduction Act, which generated revenues equal to 0.36% of GDP.Kyle Pomerleau of the Tax Foundation said that while Trump’s tariffs “rank among some of the bigger tax proposals over the last 20 years,” it’s important to note that they aren’t treated like a tax by lawmakers. As a result, there is no formal analysis by the Congressional Budget Office and the Joint Committee on Taxation on how they will affect the economy, jobs and inflation.Like what you're reading? Sign up for our free newsletter.
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Many economists see tariffs as a tax that it is ultimately paid by consumers. Viewed that way, President Trump’s tariffs amount to the largest tax hike in more than two decades, says CNBC’s Steve Liesman.

“A CNBC analysis of data from the Treasury Department ranks the combined $72 billion in revenue from all the president’s tariffs as one of the biggest tax increases since 1993,” Liesman wrote Thursday. “In fact, the tariff revenue ranks as the largest increase as a percent of GDP since 1993 when compared with the first year of all the revenue measures enacted since then, according to the data.”

The revenue from Trump’s tariffs equals 0.34% of U.S. GDP, Liesman said, the largest increase in federal revenue from the first year of a single measure since the Omnibus Budget Reconciliation Act of 1993, also known as the Deficit Reduction Act, which generated revenues equal to 0.36% of GDP.

Kyle Pomerleau of the Tax Foundation said that while Trump’s tariffs “rank among some of the bigger tax proposals over the last 20 years,” it’s important to note that they aren’t treated like a tax by lawmakers. As a result, there is no formal analysis by the Congressional Budget Office and the Joint Committee on Taxation on how they will affect the economy, jobs and inflation.

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