IMF study: U.S. tariffs on China hurting Americans most

[Zorro!]

'...The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged....

Are you sure?

-79,979.5M Trade deficit Q1 19
-91,088.9M Trade deficit Q1 18

It was 14% higher a year ago.

Foreign Trade - U.S. Trade with China

We bailed out GM. It imports cars from Red China

President Trump's crackdown on Red China is hurting the enemy within.

Reuters reported, "The Trump administration has denied a General Motors Co request for an exemption to a 25 percent U.S. tariff on its Chinese-made Buick Envision sport utility vehicle.

"The denial of the nearly year-old petition came in a May 29 letter from the U.S. Trade Representative's office saying the request concerns 'a product strategically important or related to 'Made in China 2025' or other Chinese industrial programs.'

"The midsize SUV, priced starting at about $35,000, has become a target for critics of Chinese-made goods, including leaders of the United Auto Workers union and members in key political swing states such as Michigan and Ohio.

"GM said on Tuesday it was aware of the denial and has been paying the tariff since July. GM has not raised the sticker price to account for the tariff.

"Buick Envision sales fell in the United States by nearly 27% to 30,000 last year and fell another 21% in the first three months of 2019.

I hope sales fall to zero.

A small number are imported from Red China?

One more than they import from us is too large a number.

Obama bailed out GM to avoid bankruptcy court, but GM wound up there anyway. The deal was to keep an American company going.

But GM has not kept its part of the deal. It shut down Saturn, Pontiac, and Hummer -- and now imports cars from Red China.

The Left hates our workers and loves the Chinese Cash the Chi-Coms flood to the Left. .

 

[McRocket]

Obama bailed out GM to avoid bankruptcy court, but GM wound up there anyway. The deal was to keep an American company going.

But GM has not kept its part of the deal. It shut down Saturn, Pontiac, and Hummer -- and now imports cars from Red China.

Shit...you know next to nothing about the auto bailouts I see.

It was Bush - NOT Obama - who bailed out GM and Chrysler.

Bush announces $17.4 billion auto bailout

And these 'loans' ended up being mostly gifts....billions of taxpayer dollars gone forever. And Chrysler ended up owned by Fiat (an Italian company)...so that was a TOTAL waste.


And when GM got rid of Saturn, Pontiac and Hummer - they were unprofitable divisions. Why should a company keep divisions that are not profitable? That's bad business.

 

[Zorro!]

Obama bailed out GM to avoid bankruptcy court, but GM wound up there anyway. The deal was to keep an American company going.

But GM has not kept its part of the deal. It shut down Saturn, Pontiac, and Hummer -- and now imports cars from Red China.

Shit...you know next to nothing about the auto bailouts I see.

It was Bush - NOT Obama - who bailed out GM and Chrysler.

Bush announces $17.4 billion auto bailout

And these 'loans' ended up being mostly gifts....billions of taxpayer dollars gone forever. And Chrysler ended up owned by Fiat (an Italian company)...so that was a TOTAL waste.


And when GM got rid of Saturn, Pontiac and Hummer - they were unprofitable divisions. Why should a company keep divisions that are not profitable? That's bad business.

Bush's $17.4B was a minor part of it.

President Obama said Wednesday that the federal government’s $80 billion bailout of the U.S. auto industry was the “right thing to do” during a speech in Michigan on Wednesday.

The president has moved to take credit for the bailouts.

Obama: Auto bailout ‘was the right thing to do’​

 

[McRocket]

Obama bailed out GM to avoid bankruptcy court, but GM wound up there anyway. The deal was to keep an American company going.

But GM has not kept its part of the deal. It shut down Saturn, Pontiac, and Hummer -- and now imports cars from Red China.

Shit...you know next to nothing about the auto bailouts I see.

It was Bush - NOT Obama - who bailed out GM and Chrysler.

Bush announces $17.4 billion auto bailout

And these 'loans' ended up being mostly gifts....billions of taxpayer dollars gone forever. And Chrysler ended up owned by Fiat (an Italian company)...so that was a TOTAL waste.


And when GM got rid of Saturn, Pontiac and Hummer - they were unprofitable divisions. Why should a company keep divisions that are not profitable? That's bad business.

Bush's $17.4B was a minor part of it.

President Obama said Wednesday that the federal government’s $80 billion bailout of the U.S. auto industry was the “right thing to do” during a speech in Michigan on Wednesday.

The president has moved to take credit for the bailouts.

Obama: Auto bailout ‘was the right thing to do’​

1) The government did not bailout GM with $80 billion. It bailed it AND Chrysler out separately (as I showed above). The $80 billion figure is mostly the cost of the government actually buying up GM. They then sold it at a profit (I believe).

Government sells last of its GM shares

2) I do NOT agree with what either Bush OR Obama did in this matter. I am a pure, free enterprise guy and I am 100% against the government bailing out ANY bank/corporation (except during wartime).

3) My point was that you said Obama bailed out GM. That is wrong.

GWB did...which I have already proven.


The initial bailouts that 'saved' GM and Chrysler were under Bush?

True or False, please?

 

[Rocko]

'The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.

The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.

"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.

"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'

IMF study: U.S. tariffs on China hurting Americans most

Interesting.

Hardly surprising to me...but still interesting.

And you trust the IMF? Why?


PS: I’m not saying I’m pro tariffs.

 

[Edgetho]

Chipotle had to raise the price of a taco by five cents

 

[McRocket]

'The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.

The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.

"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.

"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'

IMF study: U.S. tariffs on China hurting Americans most

Interesting.

Hardly surprising to me...but still interesting.

And you trust the IMF? Why?


PS: I’m not saying I’m pro tariffs.

I said 'interesting'...not that I 'trust them'.

But I trust them a hell of a lot more then I do any stats coming out of the White House these days.

 

[Edgetho]

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

Certain things are a 'Public Trust'

They are critical to the Nation as a whole. The Nation can not function without them.

Therefore, the government has a duty to ensure they continue to provide us with little things like, you know -- Food.

 

[bripat9643]

'The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.

The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.

"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.

"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'

IMF study: U.S. tariffs on China hurting Americans most

Interesting.

Hardly surprising to me...but still interesting.

You'll have to forgive us if we don't trust the IMF to tell us what is in our best interests. When did IMF bureaucrats ever care about America?

 

[McRocket]

Yea, it’s affecting companies that outsource manufacturing to China or buy Chinese goods.

You like US companies supporting communist Chinese?

How about moving manufacturing back to the US and protecting them from cheap Chinese slave labor goods?

Those jobs aren't coming back and not the reason for the tariffs in the first place. What about consumers? How about those farmers that you guys usually pretend to support because they are "real 'mericans"? Now they are traitorous scum?

The farmers shouldn’t depend on communists for profits.

Those jobs can come back, all we have to do is make it profitable to do so.

Then why is Trump diverting everybody else's money to farmers? A public option to you dorks is communism but this mass distribution of wealth isn't in your little minds? Interesting.

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

 

[Zorro!]

Those jobs aren't coming back and not the reason for the tariffs in the first place. What about consumers? How about those farmers that you guys usually pretend to support because they are "real 'mericans"? Now they are traitorous scum?

The farmers shouldn’t depend on communists for profits.

Those jobs can come back, all we have to do is make it profitable to do so.

Then why is Trump diverting everybody else's money to farmers? A public option to you dorks is communism but this mass distribution of wealth isn't in your little minds? Interesting.

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

 

[HappyJoy]

The farmers shouldn’t depend on communists for profits.

Those jobs can come back, all we have to do is make it profitable to do so.

Then why is Trump diverting everybody else's money to farmers? A public option to you dorks is communism but this mass distribution of wealth isn't in your little minds? Interesting.

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

 

[Zorro!]

Then why is Trump diverting everybody else's money to farmers? A public option to you dorks is communism but this mass distribution of wealth isn't in your little minds? Interesting.

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

The 10 cent tariffs against China didn't, on balance, result in consumer price inflation.

This nickle tariff is unlikely to either.

 

[HappyJoy]

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

The 10 cent tariffs against China didn't, on balance, result in consumer price inflation.

This nickle tariff is unlikely to either.

Oh, provide a link.

 

[McRocket]

Farming subsidies have been going on for a hundred years.

But, if you want to end all subsidies, then let’s see a Democrat run on it.

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

The 10 cent tariffs against China didn't, on balance, result in consumer price inflation.

This nickle tariff is unlikely to either.

Are you serious?

How can 10% of only a part of about 2% of the entire economy going to send inflation skyrocketing?

The Real Reason American Jobs Are Going to China

Wait until the tariffs are FULLY in place and have been so for many months.


And I will ask you again:

The initial bailouts that 'saved' GM and Chrysler were under Bush?

True or False, please?

 

[Edgetho]

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

My comic genius is wasted in here

 

[Ambivalent1]

'The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.

The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.

"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.

"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'

IMF study: U.S. tariffs on China hurting Americans most

Interesting.

Hardly surprising to me...but still interesting.

Only in the short term grasshopper

 

[Zorro!]

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

The 10 cent tariffs against China didn't, on balance, result in consumer price inflation.

This nickle tariff is unlikely to either.

Are you serious?

How can 10% of only a part of about 2% of the entire economy going to send inflation skyrocketing?

The Real Reason American Jobs Are Going to China

Wait until the tariffs are FULLY in place and have been so for many months.


And I will ask you again:

The initial bailouts that 'saved' GM and Chrysler were under Bush?

True or False, please?

Who is claiming that the initial bailouts of the auto industry were under Obama? He wasn't even President. He put up the first 16 or 15B of the total $80B.

Obama used to brag about bailing out the auto industry, now he wants to pretend that was all Bush too?

As Obama Takes Victory Lap Over Auto Industry Rescue, Here Are ...

https://www.forbes.com/sites/.../obamas-takes-victory-lap-over-auto-industry-rescue/
Jan 20, 2016 - Free marketeers and free traders who like to stand on principle will never be convinced that the U.S. Treasury's bailout of the U.S. auto industry ...

 

[Zorro!]

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

My comic genius is wasted in here

A nickle is a lot of money to a Lefty that supports a 25 cent/gallon gas tax hike.

 

[Zorro!]

I would support an end to all subsidies. Let a business rise or fall on it's own merits.

Sadly this is not a reality that we are faced with.

I agree with you 100%!!!

It had to happen eventually.

Chipotle had to raise the price of a taco by five cents

Burritos, and only if tariff's become permanent. So don't worry about it, no tariffs are permanent and a nickle is a small price to pay for securing the border.

I'm sure the tariffs are going to affect more than Chipotle. But, we can pretend differently.

The 10 cent tariffs against China didn't, on balance, result in consumer price inflation.

This nickle tariff is unlikely to either.

You

Are you serious?

How can 10% of only a part of about 2% of the entire economy going to send inflation skyrocketing?

Wait until the tariffs are FULLY in place and have been so for many months....

I understand that is your prediction, we can look at this again once the data is in. Certainly it has gone great so far. An additional $6B or so in GDP and $3B or so in tariffs and nice stable prices for consumers. Show me anyone but Trump that predicted it would all go this well.

We were assured that this would be an unmitigated disaster, and now that it obviously isn't, we are getting "But it will later!" That's just taking the unknown and filling it with your imagination, not unlike the map makers of old who pointed to the unexplored areas and wrote: "Thar there be Dragons!"