Is 10% or 30% tax we are still going to pay ? Per ABC…
The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%.
Key point to me. At 10% or 30% it ain’t going to motivate companies to onshore jobs. That hoax is dead.
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As well as the tariffs are going to bring in so much money no one will be taxed again and it will solve our debt problem.
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The potential is there for businesses to absorb part or all (at 10%). Likely a mix. Prices go up with tariffs, pretty much always. Question is how much.
Our costs will go up at 30% for sure. We already had some tariffs in place so much of that may be baked in already at 10%.
Back to this, crude prices are up same as market at this point. That indicates demand was certainly part of issue with oil prices going down (not all of course).
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Looks like the trade war is now shifting to the EU, they are “nastier” to the US than China.
Part One explains that when China acceded to the
WTO, it voluntarily agreed to embrace the WTO’s
open, market-oriented approach and to embed it in
China’s trading system and institutions. China also
agreed to take on the obligations set forth in existing
WTO rules, while also making numerous Chinaspecific commitments. As we previously
documented, and as remains true today, China’s
record of compliance with these terms has been
poor.
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I don’t think that’s an unreasonable take.
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Now this report is something we can talk about.
Summarizing, China was given a 5 year grace period when joining
WTO with the intent to open and operate in a free market economy way.
Numerous trade disputes have been brought by US and others under
WTO trade dispute mechanisms, and have won many of those disputes.
However the overall underlying states involvement in the economy and industries more or less make a mockery of the WTO “wins”.
Repeatedly in that report this statement is found:
It’s essentially saying you are dealing with a communist country and you want
it to stop being communist run economy. Ain’t going to happen. Maybe the idea was that over time, they would evolve into a free market but that was obvious very naive thinking.
Now they are the 800lb manufacturing gorilla in the world. And their low cost
labor versus the west, almost ensures no western country can compete with them
in labor intensive industries.
So let’s not pretend the current negotiations have solved any of these BIG issues
in the last 72 hours. Or even 90 days in the future. And we haven’t even got to
IP part and Trade secrets (page 47). And let’s be clear, the US will not be building
a manufacturing economy, nor should we desire to do so.
Companies, like Tesla that are run by the genius Musk, seem to think the reward
versus the risk is much greater. China is a Tesla manufacturing hub for the Chinese and European markets.
You asked for details.
I’m not arguing with the resident China apologist
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lol what part of what @NRGcoog said was Chinese apologia?
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Yeah, I can’t imagine they have hashed out much in this space. Other than maybe a, sure, I’ll do better from China.
Huh ? Apparently you don’t really want to discuss the topic or
issues.
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Not gonna learn anything from you Globalists
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Bingo. And kinda what the 27 issues brought before the WTO before
yielded.
At least hopefully we learned that blasting our feet with a shotgun
in the form of tariffs hurts us as much, if not more, than China.
I wonder if Tucson and Coachv even acknowledge that the tariffs are
taxes on the American consumer ? If people can’t acknowledge that,
probably no need in even participating.
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Seems like you don’t want to celebrate beating a national crisis.
May 12th is now Independence day!
Now to get gunpowder manufactured in America and we can finally feel safe again.
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The reality is that this Agreement did not
meaningfully address the more fundamental
concerns that the United States has with China’s
state-led, non-market policies and practices and
their harmful impact on the U.S. economy and U.S.
workers and businesses. China’s government
continues to employ a wide array of interventionist
industrial policies and supporting measures, which
provide substantial government guidance, massive
financial resources and favorable regulatory support
to Chinese industries across the economy, often in
pursuit of specific targets for capacity and
production levels and market shares. In furtherance
of its industrial policy objectives, China has also
limited market access for imported goods and
services and restricted the ability of foreign
manufacturers and services suppliers to do business
in China. It has also used various, often illicit, means
to secure foreign intellectual property and
technology to further its industrial policy objectives.
The principal beneficiaries of these non-market
policies and practices are China’s state-owned and
state-invested enterprises and numerous nominally
private domestic companies that are attempting to
move up the economic value chain in industries
across the economy. The benefits that Chinese
industries receive largely come at the expense of
China’s trading partners and their workers and
businesses. As a result, markets all over the world
are less efficient than they should be, and the
playing field is heavily skewed against foreign
businesses that seek to compete against Chinese enterprises, whether in China, in the United States
or globally.
The industrial policies that flow from China’s nonmarket economic system have systematically
distorted critical sectors of the global economy such
as steel, aluminum, solar and fisheries, devastating
markets in the United States and other countries. At
the same time, as is their design, China’s industrial
policies are increasingly responsible for displacing
companies in new, emerging sectors of the global
economy, as the Chinese government and the
Chinese Communist Party powerfully intervene in
these sectors on behalf of Chinese companies.
Companies in economies disciplined by the market
cannot effectively compete with both Chinese
companies and the Chinese state.
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Yes, as pointed out. It did nothing except put us right back where we were a few months ago and set tariffs at 30% that will be likely passed on to consumer. There is no framework to bring manufacturing back either.
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Where did those paragraphs come from?
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