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Trump's 15 percent tariff on Chinese goods kicks in
It's the first day of September, marked by a new round of tariffs on Chinese imports, which went into effect Sunday. In latest escalation of the trade war with China, the Trump administration has slapped a 15% tariff on $112 billion worth of Chinese goods (PDF), something consumers can expect to feel when buying everything from milk to diapers to some China-manufactured tech products like the Apple Watch.
But on Aug. 13, the USTR said it would offer a temporary reprieve to a batch of about $160 billion products (PDF) like laptops and cellphones. Those goods won't be subject to the new tariffs until Dec. 15 -- an attempt to blunt the impact of the duties on the holiday shopping season. Trump later raised the new tariff on Chinese goods to a 15% rate rather than the initial 10%.
China retaliated Sunday with its own tariff plan taking effect at 12:01 p.m. local time. It's rolling out higher tariffs in stages on a total of about $75 billion in US goods like soybeans and crude oil. It'll also resume an extra 25% duty on cars imported from the US on Dec. 15.
(Score: 2, Interesting) by The Shire on Thursday September 05 2019, @06:48PM (12 children)
That's alarmist. Factory activity ebbs and flows like the tide. This is seasonal and I suggest you mark my comment so we can come back and discuss how it rose again next month.
The fact is that during the 8 years under Obama, the US lost jobs month over month and $8 trillion (with a T) was added to the national debt. It wasn't until after the election that there was a consistent upward trend in both manufacturing and employment, the exact opposite of what the alarmist like like this predicted.
(Score: 4, Touché) by DeathMonkey on Thursday September 05 2019, @06:52PM (1 child)
Something seasonal does not happen for the first time in three years.
(Score: 3, Insightful) by The Shire on Thursday September 05 2019, @07:06PM
Fuctuations in the industry have been going on since the market was being tracked and factory activity tends to hover right around the 50 mark already. A single months dip of a half percent does not indicate a trend nor a recession.
(Score: 5, Informative) by DeathMonkey on Thursday September 05 2019, @06:58PM (4 children)
You're going to pretend to care about the debt now?
President Trump’s $4 Trillion Debt Increase [crfb.org]
U.S. National Debt Hits Record $22 Trillion [npr.org]
That is a blatant lie. [bls.gov]
(Score: -1, Offtopic) by Anonymous Coward on Thursday September 05 2019, @07:13PM (1 child)
Oh now we care about debt, where were you when the Kenyan Jew was selling us out?
(Score: 0) by Anonymous Coward on Thursday September 05 2019, @08:18PM
In Occupy Wall Street, protesting the 'too big to fail'. That's where your future too was sold.
(Score: 2) by JoeMerchant on Thursday September 05 2019, @09:03PM
How naive - citing the federal government sources on labor statistics - don't you know they all hate the current president and will do anything to make him look bad? /s
🌻🌻 [google.com]
(Score: 2) by Runaway1956 on Friday September 06 2019, @12:36AM
Debt? Almost no one in the US cares about the debt. Only a few of us crazy people ever even think about it. In point of fact, every single president who has held office since I was born has increased the national debt, not by some slim margin, but by doubling and tripling. The US gave up caring about debt sometime during or soon after the Second World War. There are those who work hard to convince us that debt is a "good thing". That is pretty much every parasite who profits from America being in debt, starting with the Federal Reserve.
(Score: 5, Informative) by Anonymous Coward on Thursday September 05 2019, @07:49PM
https://en.wikipedia.org/wiki/United_States_federal_budget#/media/File:U.S._Federal_Deficit_Stacked_Bar_Chart_-_2018_to_2027.png [wikipedia.org]
https://www.usdebtclock.org/ [usdebtclock.org]
$23T today. $24T by time Trump is kicked out. Trump started with $19T. He has been amassing MORE debt per year than Obama and Obama started with 2009 recession that bankrupted GM and others. Trump started with only $400B deficit and booming economy and then he turned that into $1+T deficit and economy that will crap out next year thanks to his unhinged tariffs.
US has been gaining jobs since 2010... don't worry, that will stop soon.
https://data.bls.gov/timeseries/ces0000000001?output_view=net_1mth [bls.gov]
Don't let reality stop your thinking thought.
(Score: 2) by c0lo on Thursday September 05 2019, @08:31PM (2 children)
1. employment rate since 2012 showed steady increase [tradingeconomics.com] after the drop caused by GFC (switch to 10y view) And it wasn't Obama that caused the GFC.
2. those trillions? Remember the 'too big too fail'? That's where your future tax money went, to American corporations.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 3, Insightful) by The Shire on Thursday September 05 2019, @10:17PM (1 child)
And for years we waited for the Obama administration to prosecute those assholes. Remember how that turned out?
(Score: 4, Touché) by c0lo on Thursday September 05 2019, @11:22PM
Remind me what Trump is doing in this regard?
The last I know, Obama rescued them and Trump rewarded them with tax cuts.
But maybe you have more positive news now?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 0) by Anonymous Coward on Friday September 06 2019, @10:03AM
What's that, just another alternative fact from a trumpette.