90 Day Pause on Tariffs....

[monica-sells]

News for Sellers as well as Buyers for now.....

Market up 2400...insane

[ittybitnot]

Are you saying that I can't ship my inventory from Shanghai to Penguin Land, change the location on my stuff to "made in penguin land" and avoid tariffs?  

@redlinear 

Yes, I suppose you could, but it sounds like a lot of trouble for YOU, the exporter.  If you made red ball caps, you could send them to (LOL) "Penguin Land".  So that way if someone in the US purchased it for $20, it would then cost the US buyer $22.00  for the extra (10%).  Shipped from China, the US buyer would be paying $45  (125%) for the same product.   

If you produce the red ball caps for $1.00 each, adding all that transit cost to Antarctica to save US buyers some money doesn't really make good business sense for you.   I would change the color of the hats and look into exporting to the EU. 

[farmalljr]

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@tarotfindsandmore wrote:

Exactly.  One thing I'm seeing over and over in these threads (and the media tbh) is a very basic, fundamental misunderstanding of what a tariff is and how it works.  Tariffs are not taxes.  They are fees levied against a trading partner, imposed to deter a nation from buying another nation's goods. 

A recent example I heard regarding the sale of Ford Mustangs in Britain illustrate this point beautifully.  The UK imposes a 100% tariff (I'm not sure this is the correct amount, just repeating the example here) on this vehicle as an import from the US.  So, we sell that 30K vehicle to the Brits, but they then charge their people 60K.   What this does is make our goods cost prohibitive.  Why would anyone spend 60K on a 30K car after all??

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I love when people deflect on tariffs, calling them anything other than a TAX. Its a TAX, no matter what you want to call it. The "revenue" from the tariff, goes into the Treasury, just like your income TAXES do. I should know, I cut the Treasury a check FIVE times a year. 

The ONLY way its NOT a tax, is if that money for the "tariff" would go ANYWHERE other than to a government entity. A tax is a tax is a tax. Please stop being obtuse. Trumpie talking points don't make your defense more "biggly". 

[gurlcat]

It's not a complete pause for 90 days though!  The 10% baseline tariff is still in effect on all nations including Penguin Island.  It's only the percentages OVER 10% that he put on some countries that is currently paused.  And 10% is still extremely problematic for many countries.

[tarotfindsandmore]

You cut that check with no understanding whatsoever you were cutting it for, like most government workers.  

You've been given the official definition, the simple layman's definition, and a clear example.  You're just not getting it. The "tax" if you want to call it that goes to the other country imposing the tariff.  That's why YOU cut the check, and DID NOT deposit one. 

[gurlcat]

Ha great video. 

Endtroducing is easily in my 20 best albums of all time.

[gone.c-33]

According to the Oxford Advanced American Dictionary, a tariff is a tax that is paid on goods coming into or going out of a country. Seems pretty official to me.

Tariffs are taxes levied on certain classes of items to promote the purchase of said item from within the country. Tariffs are taxes. ¯\_(ツ)_/¯ 

[silverdreamfilm]

"The news reports are that 70 countries have contacted Trump to renegotiate the tariff situation".

It's White House sycophants spewing that verbal diarrhea. It is not based on actual facts.  

[tarotfindsandmore]

Yup, it does, but who is paying the tax?  Why do you think you can buy tchochkes from China for nothing but a pair of Levis goes for 45 bucks in Cambodia?  The average salary in Cambodia is 200-300/mo. 

A tariff on the U.S. means they all pay more, thus the deficit.  They don't take our goods because the tariffs in their countries (the very voluntary "tax") on our goods makes it impossible for the citizens in those countries to buy our items.

"Who Bears the Burden of Tariffs?

While tariffs are often described as a tax on foreign businesses and do place an economic burden on foreign exporters, the costs are often borne by consumers in the country that is imposing them. Tariffs directly increase the cost of domestic sales by artificially increasing the price on imports."  (https://taxfoundation.org/taxedu/glossary/tariffs/)

Countries all over the world have been tariffing our goods, while we imposed minimal, if any tariffs, on them.  That is why we're in the hole.  The tariffs they've been putting on US goods have been passed on to their own citizens...which means the average citizen can't afford our goods.  If the U.S. imposes tariffs on China, Chinese garbage will no longer be quite as attractive to our citizens.

Get it? got it? good. 😉

[farmalljr]

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@tarotfindsandmore wrote:

You clearly have no clue what a tariff is.  You also are quite obviously not interested in learning.   You cut that check with no understanding whatsoever you were cutting it for, like most government workers.  

You've been given the official definition, the simple layman's definition, and a clear example.  You're just not getting it. The "tax" if you want to call it that goes to the other country imposing the tariff.  That's why YOU cut the check, and DID NOT deposit one.  Good grief, grow a brain already lol.

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I think it's you who has a real problem with reading comprehension. I CLEARLY know why I am cutting a check to the Treasury. I CLEARLY understand WHO is paying the tariff. I CLEARLY understand it IS a tax. I don't need to be like you who resorts to insults because I have a flawed stance and argument. 

Like your stance tariffs are not a tax, you make a lot of assumptions that are wrong about me, just as you are wrong what a TAX actually is. Who the tax is applied to does not magically make it something else.  If my neighbor is taxed in a way I am not, it is still a tax.  If someone temporarily immigrates to the US and has to pay taxes on income made while here, it's STILL a tax. If imports hit the shore here and it's TAXED, it's still a tax. Does not matter who or what a tax is levied on, its no less a tax. 

If you want to discuss issues with people here, I suggest you be more polite and less rude. Calling me names and degrading me or other members is against the rules. 

[farmalljr]

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@tarotfindsandmore wrote:

Yup, it does, but who is paying the tax?  Why do you think you can buy tchochkes from China for nothing but a pair of Levis goes for 45 bucks in Cambodia?  The average salary in Cambodia is 200-300/mo. 

A tariff on the U.S. means they all pay more, thus the deficit.  They don't take our goods because the tariffs in their countries (the very voluntary "tax") makes it impossible for the citizens in those countries to buy our items.

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Who pays for it? the consumer does. Just like when a manufactures cost go up, taxes increase, employees strike and get higher wages, well, the CONSUMER pays for it. Import taxes are paid for by the consumers. In this case, US citizens will pay over 100% more for the same goods.  

Other countries who impose import TAXES, the consumers in that country pay for it. 

The import tariff in not paid for out of China's bank account, the importer who imports it has to pay the TAX before the product is released. China is not going to be sending the Treasury a check, get real. 

And PS, now you agree it's a tax because tariff is actually defined as a tax, like I have been saying? Talk about sticking your foot in your mouth. 

[tarotfindsandmore]

That wasn't even a reply to you. 🤣  What name did I call you?

[gone.c-33]

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@tarotfindsandmore wrote:

Yup, it does, but who is paying the tax?  Why do you think you can buy tchochkes from China for nothing but a pair of Levis goes for 45 bucks in Cambodia?  The average salary in Cambodia is 200-300/mo. 

A tariff on the U.S. means they all pay more, thus the deficit.  They don't take our goods because the tariffs in their countries (the very voluntary "tax") makes it impossible for the citizens in those countries to buy our items.

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If you mean literally, the importer of the item pays the tariff/tax to the county levying the tariff/tax. In practice, the end consumer pays the tariff/tax by paying the higher price now raised to cover the tariff.

If the US enacts a tariff/tax on goods imported from China, the importer pays the tariff/tax to the US and the end consumer who purchases said Chinese made good indirectly pays for that tariff/tax through a price hike.

[tarotfindsandmore]

No, I don't agree with anything you've said. Let's be clear about that.  I absolutely do not agree.  A tariff is a duty, which is a sort of a "tax" levied on the OTHER guy, not you. I'm getting very tired of all of this nonsense about higher taxes for Americans because that is precisely the opposite of what a tariff is.  

The consumer in the OTHER country pays the tax, not you, not me. When our goods are tariffed, their consumers pay for it.

Honestly, I didn't even notice you'd jumped into this thread so don't accuse me of calling you names.  It's dishonest.

Anything further I may add to this exchange is not for you.  I am not talking to you and I am not interested in any further exchanges with you so you can rest easy.  I haven't insulted you or called you names, I have no interest in you at all.

[funfactorychannel]

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@gone.c-33 wrote:

According to the Oxford Advanced American Dictionary, a tariff is a tax that is paid on goods coming into or going out of a country. Seems pretty official to me.

Fake Dictionary!🤣🤣😂😂🤣🤣

[calgal19572014]

I don't believe anyone calls him "Sir" either!! 😂