Drudge Retort: The Other Side of the News
Tuesday, August 13, 2019

The U.S.-China trade war looks set to continue and likely escalate, bringing more tariffs to imports of Chinese goods, with the latest round adding a 10% charge to consumer products like clothing, toys and electronics.

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Trump's new tariffs will cost Americans about $500 per household, by one estimate
www.cnbc.com

#1 | Posted by LampLighter at 2019-08-12 11:54 AM | Reply

Well, there goes your tax cuts...

OCU

#2 | Posted by OCUser at 2019-08-12 12:00 PM | Reply | Newsworthy 1

Reduce your taxes, raise your fees. That's how it works.

#3 | Posted by lee_the_agent at 2019-08-12 08:03 PM | Reply

Large retailers like Walmart and Target have said they will have no choice but to pass the cost of tariffs on to customers,

Nonsense. Iragoldberg said part ofnTru,p's genius is that China is paying the full cost of the tariffs.

#4 | Posted by jpw at 2019-08-13 10:11 AM | Reply

US delays China tariffs for some items including cellphones, removing other products from list
www.cnbc.com

...Trump said Tuesday his decision to delay tariffs ahead of the Christmas season was to avoid an impact on holiday shopping. ...

So Pres Trump is finally admitting (even if only implicitly) that his tariffs are paid by consumers and not China.

#5 | Posted by LampLighter at 2019-08-13 12:44 PM | Reply

@#4

Inflation Stings Prices at Walmart, and Something's Gotta Give (August 10, 2019)
www.bloomberg.com

...Walmart Inc. prides itself on rock-bottom prices for everyday goods, but as soda, snack and toothpaste makers boost what they charge retailers in response to rising costs and looming tariffs, something's got to give.

The question is where. Investors will get a sense of that give-and-take when Walmart reports results Thursday. Average prices for consumer goods rose 2.3% in the first six months of 2019, according to data tracker Nielsen, the fastest pace in several years. Walmart said it saw "modest" inflation in the first quarter, but it has heated up lately, and a Walmart shopping trip was 5.2% more expensive in June compared with a year earlier, according to Gordon Haskett Research Advisors. For thrifty Walmart shoppers, that matters....

Expect more adjustments to come. The next round of 10% tariffs on a broad swath of $300 billion worth of Chinese exports, starting next month, will inevitably lead to price increases, Walmart executives have said -- just as the holiday shopping season gets underway....


That last paragraph may be the reason why Pres Trump is backing away from the tarrifs he had said he would impose starting September 1.

#6 | Posted by LampLighter at 2019-08-13 12:54 PM | Reply

How many countries can now undercut China when selling their goods here?
Bet they love the idea.

#7 | Posted by Petrous at 2019-08-13 12:55 PM | Reply

"...Pres Trump is backing away from the tariffs he had said he would impose starting September 1."

I'm sure Wilbur Ross just asks for 15 minutes lead time whenever a crank decision is made.

#8 | Posted by Danforth at 2019-08-13 12:58 PM | Reply

@#7 ... How many countries can now undercut China when selling their goods here?
Bet they love the idea....

Wasn't Pres Trump's goal with the tariffs to bring the manufacturing jobs back to the United States, and not just shuffle those jobs to a different country?

#9 | Posted by LampLighter at 2019-08-13 01:06 PM | Reply

@#8 ... I'm sure Wilbur Ross just asks for 15 minutes lead time whenever a crank decision is made. ...

From what I read, he's lucky if he gets any warning at all.

It's usually an after-the-fact heads-up once Pres Trump leaves the golden throne.

#10 | Posted by LampLighter at 2019-08-13 01:07 PM | Reply

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Trump is a genius. He is playing Hungry Hungry Hippos while everyone else is playing checkers. Of course, wth everyone else playing another game that means that Trump is playing HHH alone, but still-- he will WIN.

It doesn't matter if all his marbles are gone and that little black lever protruding from the hippo's ass is cracked and slightly askew-- He still plays and he still WINS.

Winning is the name of the game with Trump, and he will always win-- even if everyone is the whole damn world thinks he's losing he is actually winning. Because winners are always those who say they are winning louder than those who who say they are so full of crap that they do not know their ass from their eyeball.

Check throughout history and you'll see this to be true. Mark Twain once said "All you need in this life is ignorance and confidence, and then success is sure" so Trump is indeed successful. Otherwise, you are calling Mark Twain a dummy, and seeing that Mark Twain was a great America, that would make you a complete traitor (and liberal) as well.

Trump/Putin/Kim 2020
MAGAA (Make America Greaterer Again, Again)

#11 | Posted by imabot at 2019-08-13 01:21 PM | Reply

If this wasn't so sad it would be funny.

I am trying to help our shipping department with paper work we never had to deal with in the past just going to Canada and Mexico now. (Found out they were putting in information that is not 100% accurate without knowing they were wrong along the way too.) Canada and Mexico hate our guts right now - they are making everyone pay for this POS that is in the WH. (At least in Canada's case it was put in place post Trump starting his trade wars.) So much fun...

#12 | Posted by GalaxiePete at 2019-08-13 02:26 PM | Reply

I saw on BloombergTV that negotiations with China will take place via phone in two weeks.

I haven't seen it on a news site yet...

#13 | Posted by LampLighter at 2019-08-13 03:17 PM | Reply

I saw on Bloomberg TV that negotiations with China will take place via phone in two weeks.

I can imagine the conversation.

"My missile is bigger than your missile."

#14 | Posted by Ray at 2019-08-13 03:24 PM | Reply

Speaking of China, it looks like Chinese army troops may be massing on the Hong Kong border...

#15 | Posted by LampLighter at 2019-08-13 03:41 PM | Reply | Newsworthy 1

Negotiations will take place via twitter as soon as Hannity decides how many people can get screwed

#16 | Posted by hatter5183 at 2019-08-13 04:51 PM | Reply

Amerians are such hypocrites. The boo hoo hoo about human rights violations in China. They boo hoo hoo about all the pollution China creates. They boo hoo hoo about political prisoners being kept in Chinese prisons. They boo hoo hoo about slave labor from their prisons. They boo hoo hoo about organs being harvested from prisoners. They boo hoo hoo about child labor in China.

But the second their Nikes and Apple products from China go up a nickel, they are all in a tizzy and the things they used to cry about suddenly don't seem so important.

Americans are such hypocrites.

#17 | Posted by goatman at 2019-08-13 05:12 PM | Reply | Newsworthy 1

--But the second their Nikes and Apple products from China go up a nickel, they are all in a tizzy

They'll fold like lawn chairs in any protracted struggle against Chinese global domination.

#18 | Posted by nullifidian at 2019-08-13 05:23 PM | Reply | Newsworthy 1

#17 | Posted by goatman

American's aren't in a tizzy and crappy whataboutism. Many of us would be Ok with price increase on many products if it meant non-slave labor but if it is because of a moron's trade war that is different.

#19 | Posted by GalaxiePete at 2019-08-13 05:29 PM | Reply

"Many of us would be Ok with price increase on many products if it meant non-slave labor but if it is because of a moron's trade war that is different.

#19 | POSTED BY GALAXIEPETE "

But if the price of a Chinese product goes up, Americans will seek a cheaper version elsewhere. That means China produces less. That means less pollution and questionable labor tactics. It must be true that China would sell less ----, or they wouldn't give a damn about a trade war.

#20 | Posted by goatman at 2019-08-13 05:31 PM | Reply | Newsworthy 1

wow, Trump is protecting the Unions if anything. China has been producing and selling "knockoffs" for years from purses, watches & jewelry, shoes, apparel, meds, labels, etc... all hurts the American worker UNIONS!

#21 | Posted by Maverick at 2019-08-13 08:43 PM | Reply

Trump is trying to correct bad (or ignored) deals from the past Administrations to CREATE an even playing field for our Unions and the American worker

when Politian's talk about losing jobs over seas this is IT!

#22 | Posted by Maverick at 2019-08-13 08:52 PM | Reply

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