Tuesday, 18 September 2018

US imposes new tariffs on $200bn of Chinese goods

quote [ The higher import taxes will apply to almost 6,000 items, marking the biggest round of US tariffs so far.

The taxes will take effect from 24 September, starting at 10% and increasing to 25% from the start of next year unless the two countries agree a deal. ]

We are letting a virtual child play with TNT...and all of our lives are in the balance.
[SFW] [politics] [+1 WTF]
[by bbqkink@2:57amGMT]

Comments

cb361 said[1] @ 5:44pm GMT on 18th Sep [Score:1 Insightful]
I have the same problem when I'm playing a world-sim for the first time and I haven't figured out how the rules work yet. At least Trump hasn't moved all of your country's police stations to a single hex in in the middle of the Mojave.
rhesusmonkey said @ 3:49am GMT on 18th Sep
... but not on Apple products, so it's cool. who doesn't have $1500 to blow on a smartphone?
Ankylosaur said @ 4:05am GMT on 18th Sep [Score:1 Funny]
Got to make sure citizens can get their Presidential Alert devices.
bbqkink said @ 4:42am GMT on 18th Sep
Maybe somebody should explain the true cost of isolationism to Trump.

Andy George who spent $1,500 and 6 months making a single sandwich completely from scratch. He did absolutely everything from making his own cheese to harvesting his own wheat. He made his own salt and made his own oil. He grew sunflowers and collected their seeds to extract fat.

This man discovered the real cost of a single meal

Do it yourself can be taken to extremes
SnappyNipples said @ 4:52am GMT on 18th Sep
This will impact my 3D printer hobby.
Hugh E. said @ 9:15am GMT on 18th Sep
If the Dems don't pepper their campaign speeches with the phrase "temper tantrum tariffs" and add that "hardworking men and women end up paying for", then they don't deserve to win.
BUGGERLUGS123 said @ 5:34pm GMT on 18th Sep
It'll be amusing in a few months when China kicks Apple out of the country and due to Trumps stupidity everything in the U.S. increases in price causing massive inflation rises.

Still, the 1% will be able to spend the $15,000 on that new Iphone (which is what it'll cost by then.)
rhesusmonkey said @ 4:42am GMT on 19th Sep
No, it probably won't increase 10x since that is retail, while tariffs would be applied to the BOM price, eg: What Apple pays Foxconn or Hon Hai for assembly. Those companies in turn source several components from outside China, and so some of those *may* have additional Tariffs, but since most of the supply chain for electronics is already in Asia, it shouldn't be much impact. China sourcing an LCD or OLED from Japan / Korea for example probably won't be affected by this change.

Now, if Foxconn were to build a plant in US (they are, but there are already a handful of contract manufacturing places in North America already), then your assembly costs will go up simply because US workers won't live in company dorms attached to the plant and dine at the company cafe for all meals (only SW devs in the valley do that). oh, and healthcare, income taxes, min wage etc are all higher in US.

but at some point, the cost barrier to do that move to US based assembly is not as high as the additional costs applied to import the finished good. question remains if that threshold is reached before November 2020. i expect many tech companies are waiting for November 2018 to see where the wind is blowing.
bbqkink said[1] @ 6:43pm GMT on 18th Sep
And as expected...

China hits back at latest US tariffs with measures worth $60bn

Tit-for-tat measures are the latest escalation in an ongoing trade row between the world's two largest economies.


"If the Chinese people believe that they are being maligned they will boycott. You're already starting to see some anti-American sentiments saying, 'I'm not going to buy that, it's American'," China analyst Einar Tangen told Al Jazeera.
bbqkink said @ 1:26am GMT on 19th Sep
Here is a look at how this is playing out in my state.

The "trade war" may sound like something happening on far away shores, but the truth is that Illinois is on the front lines of two of the largest commodity battles with China: Steel and Soybeans.

Steel and Soy - How the Trade War Hits Illinois

Has any of this affected any of you where you live...yet?
the circus said @ 1:43am GMT on 19th Sep
Well board games, being almost universally manufactured in China, have been creeping up in price all on their own. The canary will probably be all these over produced Kickstarter games from smaller companies.
bbqkink said[1] @ 2:42am GMT on 19th Sep
The same principal applies to the steel. Yes this helps the existing steel manufactures in the short run, but will it last long enough for someone to see profit in US steel , enough to build more production capability.

And I don't see anybody willing to bet money on what Trump will do next. I think it is just ride out the storm time...but expect things to get worse before they get better.
Bruceski said @ 2:08am GMT on 19th Sep
I'm not sure what goes where but Port of Portland is, well, a shipping port, and in particular one of the largest export points in the world for wheat.
bbqkink said[2] @ 2:49am GMT on 19th Sep
As far as I can tell wheat has not been hit...yet., but the U.S. Wheat Associates has this to say.

Chairman Mike Miller, a Ritzville, Wash., farmer, says the wheat industry is vulnerable to retaliation from overseas buyers. “We don’t have a single gun in the fight.”

U.S. Wheat on tariff turmoil: Patience starting to run out

BUGGERLUGS123 said @ 4:02pm GMT on 19th Sep
I can't wait to see China just mine the south China Sea. That's where it will head if Trump continues down this path. They will see it as an attack of their integrity and will have to save face.

The U.S. needs China far more than China needs the U.S.

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