Sunday, September 1, 2019

New Tariffs On China Effective Today


Mentally unstable con man and pathological liar Donald "The Chosen One" Trump was up early this morning toilet-tweeting a comment by a far- right economist/ troll that his tariffs on Chinese goods -- and China's retaliatory tariffs -- will not impact American consumers "that much":

Trump's 15% tariff on $112 billion of Chinese goods go into effect today, and despite Trump's nonsense, it's going to hurt:
"The Trump administration’s latest round of tariffs on Chinese imports took effect early Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods in advance of the holiday shopping season.

 The 15% taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff hikes.

 But with prices of many retail goods now likely to rise, the administration’s move threatens the U.S. economy’s main driver: Consumer spending. As businesses pull back on investment spending and exports slow in the face of weak global growth, American shoppers have been a key bright spot for the economy."  (our emphasis)
Of course, in Trump's delusional world, the tariffs are collected by the U.S. government, so not to worry, right?
"As a result of Trump’s higher tariffs, many U.S. companies have warned that they will be forced to pass on to their customers the higher prices they will pay on Chinese imports." (our emphasis)
Also, notice in his tweet that he says "redirect the supply chain," which is exactly what China is doing for many U.S. products, particularly agricultural products like soybeans and pork, and it's killing farmers across the Midwest. Those supply chains may never return to America. As many noted in response to his idiotic tweet:


It's all about distraction and disinformation:
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