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Apple's Stock Surges After U.S. Delays Additional 10% Import Tariff on Products Like Cell Phones and Laptops
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But bad news for Americans. Our huge imbalance of trade with China will destroy our country. It has already decimated the manufacturing in the Rust Belt.
You may not like Trump, but he is the only person in our government who recognizes this and is trying to do something about it.
It is better to do this now when the economy is strong and we are at full-employment rather than trying to do it when we are in the depths of a recession.
The point is not about people not knowing that taxes might get passed down to them. It's about attempting to reign in corporate greed. When corporations do very well, workers get a very tiny sliver of that success while the people at the top reap 90% of the financial rewards. So by using the beloved "trickle down" theory, giving a larger chunk to the workers would produce more incentive to work hard and keep things flowing for everyone.
Tariffs are not an effective means to deal with trade issues no matter who implements them or what their political affiliation is.
Oh, it is? So the benevolent government is there to reign it in? Corporations are by nature inherently greedy, right? On the other hand, big centralized government is not greedy and only there for the little guy, right?
Here’s a secret: both corporations and government are made up of human beings. Unfortunately, human beings are flawed.
Here’s another secret: only one of these entities has the power of law, penalty and force to compel YOU and I to do things.
It's hilarious to watch people promote tariffs and corporate tax cuts that will "make America great again" when they are implemented by someone they adore and ignore the misrepresented facts of what really happen when tariffs are put into place. Then they'll proceed to vote for less government regulations because it "hurts businesses" and causes "undue burdens" because they believe that corporations will just shutdown if they can't squeeze literally every penny off a dying child cancer patient's family in the US (because drug prices are regulated internationally). No concern there about how these actions only can help the rich get richer and make most of America poorer and worse in the long term.
Zero common sense.
Look, if you're going to go to extremes and not understand how things work, then that's up to you. But notice your technique in arguing is just like this administration's... you think bashing someone you disagree with is a valid argument that helps to prove your case. But it isn't.
Both extremes are horrible, and because we've been locked in a two-party system that favors the ultra-rich (on BOTH sides!) and not middle America, a system that gives extremely high platforms to lobbyists because corporations have the most money to pay for their voices to be heard, a system where ensuring safety of children is an "undue burden", a system that allowed for an opioid epidemic because greed can be overlooked and then pretend to be upset over... and mainly, a system where literally the one and main concern for every elected official from day one is how to stay in their position of power or move up.
Educate yourself to see that no one is always right, and more importantly, just because you disagree with someone's politics doesn't mean they're wrong either.
I will never understand this position. It’s as if China robbed you!
The situation is how it is by choice. The USA chose this explicitly.
The core reason for the imbalance is the cost of land in the USA due to property speculation has meant labour costs, plant costs etc.. are just way higher than in other countries. This is pretty much the same all over the western world.
the idea is that the western economies were meant to move to higher end knowledge based manufacturing with the educational advantages that the west provides compared to developing countries.
So high end jobs make more money and pay for the higher land / property and plant costs. The issue is that somewhere down the line the USA doesn’t care that it’s people are highly educated or even healthy (college is paid for and so is health).
So whereas other countries like Germany and France are coping well with reduced need for low skilled workers coupled with a comprehensive health care and education, the USA is stuck.
it’s created a society that deliberately only caters for the rich and is wondering why it’s finding it hard to compete with China. It’s literally cutting off its own oxygen supply.
You need a smarter strategy then just fighting fire with fire as these tariff wars are doing. The USA needs to look at why it’s built an economy that only exists to server a small section of it.
On this we agree... principles applied.
That said, something needs to be done about China and it is about time we have a leader that is acknowledging it.
Totally different story. The Dems want to raise taxes for the wealthy so they pay their fair share. Trump raises import taxes because he has this crazy notion it will get jobs back to America and boost the economy. But it turns out the opposite was going to happen with China blocking all agricultural imports. Aah, trade wars.
I gave you a thumbs up but this post is too excellent not to that out explicitly. Thank you.
Ill agree to all but your last point. Corporations ABSOLUTELY have the power of law behind them. They have these people called lobbyists that essentially write the laws they want pushed through. And therefor yes they do force/compel us every single day.
I'll use one tiny example. Ever notice why on the back of food labels (at least in the USA) There is no daily percentage next to Sugar? Thats right.....even after explicit objection by the World Health Organization on the long term negative side effects of excessive sugar intake, the food lobbyists fought to keep that percentage off. Since that means that lovely ice cold coca cola you consume everyday would be about 90% of your recommended daily sugar intake. Leaving little or no room to consume all the other garbage we do which leads in large part to the obesity, diabetes and therefor healthcare industry /drug mess we have in the US.
I doubt it was just Apple. These tariffs would have wrecked holiday spending right before an election, and that would have been a huge campaign commercial.
U.S. trade deficit isn't necessarily a bad thing.
The trade deficit increases when the economy is booming (U.S. economy is much stronger than China's), when job growth is strong, and when consumers feel prosperous and want to spend. That money then gets recirculated back into the economy.
The Chinese (maybe Asians in general?) aren't known to be people who spend and spend and rack up personal debt like U.S. consumers like to do, so it'll be hard to get them to buy more U.S. goods to narrow deficit.
I'm a stock owner also, but statements like yours are why companies are considered so evil. For examples, how many of you on this forum are hard workers but over the last 10 years your typical raises are less than cost of living? I don't know the answer, but I'm guessing most. Typical CEOs want profit at all costs, even if it hurts those who deserve better.
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What in my post that you quoted would you classify as extreme? I don't adore people, I adore MY liberty, YOUR liberty, and the principles I hold that ensure those continue to exist. The positions are based on thought and fact, not emotion and virtue signaling. I did not attack anyone. I simply pointed out hypocritical positions based on feelings and emotion.
I'm sorry, but reading your post, all I see is blame and finger pointing... no individual accountability. It's a pretty standard playbook - stir the emotions of envy and place people into groups to identify them as victims, then promise to make it all better by punishing those horrible successful people. All this while claiming that we need MORE of the government that by your own words is made up of elected officials only concerned about their own power. So tell me, who is trying to perpetuate and grow the broken system?
Yeah, I know I'm tired of all this winning! /s
(Ref: https://www.washingtonpost.com/news...-donald-trumps-final-pitch-to-south-carolina/ item #15)
Especially by trump who understands little about economic and trade dynamics.
Get back to me when people stop complaining about these government programs and supporting Puerto Rican AMERICAN CITIZENS, but then stand there with their hands out for another farm "relief" (translation: tariff welfare) check.
Like so many things Trump, this is a terrible oversimplification. Take auto manufacturing for an example. The disaster that struck the auto industry was obvious to and predicted by almost everyone I know a decade ahead of the collapse. Why? Because the manufacturers insisted on trying to tell people that they wanted their products rather than listening to what people wanted. The manufacturers willingly gave up the market simply by refusing to acknowledge where customers were headed.
There's a place for American manufacturing if they wake up and make quality products and treat customers respectfully. There are still American manufacturers that do this, and if you find their products you'll see just how superior they can be to imported junk. Why it's so hard to find and identify quality products made in America (and not junk trying to compete with junk) is a mystery to me and another issue entirely.
You are actually making my point. The stance is not based in principle, but rather that the ends justify the means, and that one political group has the best intentions, but the other does not. If principles were applied, tariffs/taxes would just be a bad (or good based on the principle) idea regardless. Remember, they will "hurt the consumer"... right?
By the way, could you enlighten me on exactly what a fair share would be? And how are we to classify wealthy? Do you know the breakdown of groups and their burden (share) of taxes?
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Hey, fair enough. I never said I supported either.
China has imposed lopsided tariffs on us for years, they aren't going to drop those by asking nicely.
In fact, that has already been tried. The only ways we can change their minds: increase their costs thru tariffs, or thru wishing.
However. China's corn harvest just collapsed due to massive pest infestation, on the heels of their pork production being decimated.
Left leaning partisan leaners take careful note: Dogmatically holding China to a tariff schedule, when they face imminent natural disaster conditions, is cruel. It would put extreme pressure on them far beyond any US strategic trade goals or strategy. Better swallow your pride, Trump's the good guy here.
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So it's ok for China to use tariffs on us?
How would you get them to stop?
Its hilarious seeing libertarians contort themselves into philosophical pretzels with their mansplaining, trying to attack “big government” whether or not “big government” is protecting consumers, protecting the environment, protecting civil liberties, protecting worker rights. Libertarians are effectively corporate shills.
I don't think very many. Tim Apple is a frequent dinner guest at the White House. He simply looks at Trump across the table and says, "people will not like you for implementing these tariffs. You want people to like you, don't you Mr. President?" Trump is a bowl of warm Ice Cream in a conversation with the likes of Tim Apple.
