Trump announces "reciprocal tax" on imports

[Stephen + 67]

President Donald Trump said that the U.S. government will impose a “reciprocal tax” on imports from countries that levy tariffs against American made goods. The U.S. has very low tariffs compared with some of our biggest trading partners. The trade-weighted average of U.S. tariffs is just 2.4 percent. China’s is 4.4 percent.

[李伟王芳 + 77]

Save your money. This administration's economic isolationist policies are going to cause hyperinflation

 

[JohnAtronis + 78]

13 minutes ago, 李伟王芳 said:

Save your money. This administration's economic isolationist policies are going to cause hyperinflation

 

There will be no hyperinflation, just bunch of unfair traders getting their nose bloodied by the country that feeds them their revenues.

[Joanna + 68]

I didn't notice any US company opening new factories here. Assembly only. So can we really blame Samsung

[李伟王芳 + 77]

American Companies Keep Sending Thousands of Jobs Overseas

https://www.cheatsheet.com/money-career/american-companies-sent-jobs-overseas.html/?a=viewall

[Meanwhile + 49]

here we go, give them 30 $ more in take home pay with tax reform, then run the prices up on what they can buy in exchange. Tariffs are taxes on American consumers 

[李伟王芳 + 77]

5 minutes ago, JohnAtronis said:

There will be no hyperinflation, just bunch of unfair traders getting their nose bloodied by the country that feeds them their revenues.

Which will result in countries retaliating by slapping taxes and tariffs on US goods and selling US Treasury bonds, causing interest rates to soar and a significant recession in the US, along with inflation.

[TraderTate + 186]

Yeah, I see the interest rates going up ... already are. Inflation is a huge fear and also why the stock market is moving into bear territory. But re the reciprocal 'tax' on imports, my understanding is that it is a tariff that will be levied on goods from countries that are levying tariffs on goods US imports ... But still, the bigger picture is hyperinflation, and it's not going to be fun. 

[Stephen + 67]

Guess who will pay for tariffs and taxes on imports? You think that Samsung will take a loss. No, the American consumer will

[Joanna + 68]

European Union as a whole buys over $300 billion of US exports - the single largest foreign customer, despite not having a FTA. Canada buys over $260 billion. Are we really going to risk those guys boycotting our exports just to feed someone's ego?

[李伟王芳 + 77]

You see, in years after the WW2, US accounted for 51% of the Worlds economy. Now it is slipping below 25%, but that was predictable. An import tax is called a tariff, and the WTO would not allow any such thing. If the USA challenges the WTO openly, the rest of the world would suit the current administration. So, the question is: do we want to take whole world to a trade war? And, does American public really believe that every administration in the last six decades has been mistaken, and Trump strategy is better?

[JohnAtronis + 78]

3 hours ago, Stephen said:

President Donald Trump said that the U.S. government will impose a “reciprocal tax” on imports from countries that levy tariffs against American made goods. The U.S. has very low tariffs compared with some of our biggest trading partners. The trade-weighted average of U.S. tariffs is just 2.4 percent. China’s is 4.4 percent.

Reciprocity seems a very fair course of action. What could possibly be wrong with treating other countries' imports the same way that they treat imports from the US.

[Rodent + 1,424]

3 hours ago, Stephen said:

Guess who will pay for tariffs and taxes on imports? You think that Samsung will take a loss. No, the American consumer will

yes, samsung will take the loss, and not the consumer, because I can still buy Whirlpool.

[Addy + 14]

so let me get this straight. We're complaining because the US is planning on taxing the countries that tax it, by the same amount it is taxed? I swear Trump could host an LGBT parade and the liberals would hate the idea all of a sudden. 

[11:11 0]

It’s called “missing the forest for the trees.” We (the US) have maintained a hegemony at the center of the economic world order weaved intrincately by globalization. Trade skirmishes always result in retaliation, especially when your neighbors can be of use. If we were not the hegemonic nation of Planet Earth, sure, go quarrel and skirmish all you want. Our USD is the principle instrument of trade. Our T-note is the principle safe haven investment. Our country itself the the first choice for those voting with their feet. Our this....our that. It is immature and ignorant to not fulfill our responsibility to respect and uphold the agreements that we have signed, and, honestly, blundered others into signing. WHY? So we can be the hegemony of Planet Earth. Hello, people!! Ever wonder why we can afford everything? Don’t listen to the reds nor the blues. They don’t win votes talking about something they don’t understand.

[Marina Schwarz + 1,576]

14 hours ago, Joanna said:

European Union as a whole buys over $300 billion of US exports - the single largest foreign customer, despite not having a FTA. Canada buys over $260 billion. Are we really going to risk those guys boycotting our exports just to feed someone's ego?

Can't see the EU boycotting anything U.S.-made. What's the alternative, Russia? No way. China? Oh, well...