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Fri Aug 23, 2019, 05:27 PM

Trump Says He Will Raise Existing Tariffs on Chinese Goods to 30%

Source: New York Times

WASHINGTON -- President Trump, angered by Beijing's decision on Friday to retaliate against his next round of tariffs and furious at his Federal Reserve chair for not doing more to juice the economy, said he would increase taxes on all Chinese goods and demanded that American companies stop doing business with China

Mr. Trump, in a tweet, said he would raise tariffs on $250 billion worth of Chinese goods to 30 percent from the current rate of 25 percent beginning Oct. 1. And he said the United States would tax the remaining $300 billion worth of imports at a 15 percent rate, rather than the 10 percent he had initially planned. Those levies go into effect on Sept. 1.

"China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%," Mr. Trump said in a tweet.

Those levels are likely to exacerbate the financial pain already being felt from the tariffs as companies and consumers face higher prices for products that they buy from China. Even before the new 30 percent rate, the tariffs were expected to cost the average American household more than $800 per year, according to research by the Federal Reserve Bank of New York.



Read more: https://www.nytimes.com/2019/08/23/business/china-tariffs-trump.html





66 replies, 4246 views

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Reply Trump Says He Will Raise Existing Tariffs on Chinese Goods to 30% (Original post)
BumRushDaShow Aug 23 OP
Texin Aug 23 #1
spinbaby Aug 23 #5
crazytown Aug 23 #8
OnlinePoker Aug 23 #13
underpants Aug 23 #25
Berlin Expat Aug 24 #63
crazytown Aug 23 #2
BlueIdaho Aug 23 #3
RandySF Aug 23 #4
SergeStorms Aug 23 #46
rurallib Aug 23 #6
Chemisse Aug 23 #14
ProudMNDemocrat Aug 23 #28
Traildogbob Aug 23 #19
bucolic_frolic Aug 23 #7
mahatmakanejeeves Aug 23 #9
BumRushDaShow Aug 23 #10
Newest Reality Aug 23 #11
yaesu Aug 23 #12
PSPS Aug 23 #15
yaesu Aug 23 #18
bucolic_frolic Aug 23 #16
yaesu Aug 23 #17
mopinko Aug 23 #35
usaf-vet Aug 23 #20
Bengus81 Aug 23 #21
crazytown Aug 23 #22
underpants Aug 23 #26
Bengus81 Aug 23 #29
progree Aug 23 #32
safeinOhio Aug 23 #52
bucolic_frolic Aug 23 #23
randr Aug 23 #24
ProudMNDemocrat Aug 23 #27
crazytown Aug 23 #31
ProudMNDemocrat Aug 23 #42
KY_EnviroGuy Aug 23 #30
SharonAnn Aug 23 #59
KY_EnviroGuy Aug 23 #60
Mc Mike Aug 23 #33
B Stieg Aug 23 #34
BumRushDaShow Aug 23 #37
FailureToCommunicate Aug 23 #50
KY_EnviroGuy Aug 23 #61
left-of-center2012 Aug 23 #36
DallasNE Aug 23 #45
sakabatou Aug 23 #38
BumRushDaShow Aug 23 #39
yaesu Aug 23 #40
keithbvadu2 Aug 23 #41
keithbvadu2 Aug 23 #43
Yo_Mama_Been_Loggin Aug 23 #44
wiggs Aug 23 #47
roamer65 Aug 23 #48
thenelm1 Aug 23 #49
Eliot Rosewater Aug 23 #51
safeinOhio Aug 23 #53
RainCaster Aug 23 #54
Hotler Aug 23 #55
bluestarone Aug 23 #56
enid602 Aug 23 #57
Dawson Leery Aug 23 #58
procon Aug 23 #62
Berlin Expat Aug 24 #64
BumRushDaShow Aug 24 #65
louis-t Aug 24 #66

Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:32 PM

1. Trump has dug himself into a hole. Trump continues to dig.

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Response to Texin (Reply #1)

Fri Aug 23, 2019, 05:41 PM

5. The beatings will continue until morale improves.

The tariffs will increase until the economy improves.

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Response to spinbaby (Reply #5)

Fri Aug 23, 2019, 05:44 PM

8. and horses raised from the dead

'hereby ordeed' - the Chosen1

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Response to Texin (Reply #1)

Fri Aug 23, 2019, 05:59 PM

13. He's hit rock bottom and pulled out the mining gear. n/t

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Response to OnlinePoker (Reply #13)

Fri Aug 23, 2019, 06:33 PM

25. I've never heard that one before

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Response to Texin (Reply #1)

Sat Aug 24, 2019, 02:34 AM

63. Trump's ignorance strikes again

China has been through much worse than Trump.

Look at China’s history of the 19th and 20th Centuries; the Opium Wars, the first and second Sino-Japanese Wars, the Taiping Rebellion (a conflict that left at a minimum 20,000,000 dead….no one really knows for sure and there's casualty figures floating around out there that rival the death toll of WWII), the disastrous Great Leap Forward and the famine that followed which left millions dead in its grim wake, caused entirely by Mao Zedong’s recklessness and ignorance.

The Chinese are keenly aware of their not-so-distant past.

Trump is nothing compared to what China went through in the last two centuries. They’ve suffered far, far worse than anything a shady businessman from Queens can throw at them.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:34 PM

2. The 10% September tariffs will now be 15%

So much winning,

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:36 PM

3. Hello Darkness My Old Friend...

Welcome to the 2020 recession.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:37 PM

4. We're fucked.

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Response to RandySF (Reply #4)

Fri Aug 23, 2019, 07:26 PM

46. The silver lining....

Trump is more fucked than us. He won't stand a snowball's chance in hell of re-election.

"Trade wars are good, and easy to win". Those words will come back to bite Trump in is very ample ass.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:41 PM

6. Whoops - did Christmas just get cancelled again?

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Response to rurallib (Reply #6)

Fri Aug 23, 2019, 06:01 PM

14. Yep. Looks like Trump will be spoiling Christmas after all. n/t

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Response to Chemisse (Reply #14)

Fri Aug 23, 2019, 06:41 PM

28. Nothing spoils Christmas more than the.......

[img][/img]

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Response to rurallib (Reply #6)

Fri Aug 23, 2019, 06:15 PM

19. Where is O'Reilly ?

The freakin War on Christmas. What good is it to be "allowed" to say Christmas, If no body gets anything. Even White Sanra Clause is not safe from tRump. Fox.......anything about your precious Christmas and the baby Jesus?

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:42 PM

7. Desperate escalation to blame others for his economic failures

It's all going over the falls in a barrel, and we're going to pay and pay and pay

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:48 PM

9. That's it. I'm going home. NT

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Response to mahatmakanejeeves (Reply #9)

Fri Aug 23, 2019, 05:51 PM

10. TGIF?

I think?

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:55 PM

11. So,

THIS is how "the Art of Bankrupting Casinos" works.

It should be very interesting. I guess we will just have to be less materialistic and enjoy the added bonus of our tariff taxes like good proles.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 05:56 PM

12. Question, did he make the goods tariff increase statement before or after the market closed?

I know he demanded the US biz thing earlier but didn't know about the tariff.

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Response to yaesu (Reply #12)

Fri Aug 23, 2019, 06:08 PM

15. The tantrum tweet (how he issues his "edicts,") was around 5 PM Eastern.

I erroneously said 2 PM Eastern but was mistaken.

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Response to PSPS (Reply #15)

Fri Aug 23, 2019, 06:13 PM

18. Thanks for the info. nt

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Response to yaesu (Reply #12)

Fri Aug 23, 2019, 06:08 PM

16. I saw two posts

on Twitter, one from John Harwood, that they were post-close. Futures are down almost 600 as of 5:20pm

So we are in for a bloodletting Monday, these are the things crashes are made of IMO

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Response to bucolic_frolic (Reply #16)

Fri Aug 23, 2019, 06:13 PM

17. Thanks for the update, yep, that is what I wondered, could mean a major selloff. nt

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Response to bucolic_frolic (Reply #16)

Fri Aug 23, 2019, 06:55 PM

35. esp if this weekend is a freak show.

which we know it is gonna be.

we are so fucked.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:16 PM

20. So does the idiot in the White House think he's dealing with a small Chinese family in NYC.

Bullying a family with a small bodega in Chinatown might work in his past experiences.

But the nation of China isn't going to knuckle under to the loudmouth bully in the skyscraper.

They will meet his rants with equal fury.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:28 PM

21. DOW closed down bigggglllyyy -623 points

Keep it up Trump and did your latest round of tariff pissing match hit soybeans that much harder?? Hope so!

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Response to Bengus81 (Reply #21)

Fri Aug 23, 2019, 06:30 PM

22. The announcement was made after Markets closed

Futures are down another 600 points.

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Response to crazytown (Reply #22)

Fri Aug 23, 2019, 06:35 PM

26. Yeah but the uncertainty was palpable all day

We lost 3% on both our stocks today.

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Response to crazytown (Reply #22)

Fri Aug 23, 2019, 06:41 PM

29. Then going by the tweet about Obama in 2012..........

Trump should resign on Monday when the DOW hits 1000 points down for two trading days. Yeah right.........

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Response to Bengus81 (Reply #21)

Fri Aug 23, 2019, 06:45 PM

32. S&P 500 down 2.59%, Dow down 623 (2.37%). S&P 500's drop is equivalent to a 680 point Dow drop

Friday's closing values.

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Response to Bengus81 (Reply #21)

Fri Aug 23, 2019, 08:11 PM

52. Wasn't he telling folks yesterday

to check their 401Ks. Never mind.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:30 PM

23. "China should not have" STOP right there

says WHO? China like most countries is likely to do what it likes, or what it thinks will further its interests. This overarching moral certitude that TRUMP knows what to do, and has the God-given right to do so is simply BULL.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:33 PM

24. He has ruined Xmas again

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:38 PM

27. Fucking LIAR!!! Fuck December!! Christmas just got more expensive.....

Forget those toys the kids want.

Forget Sporting Goods, Games, Clothes, Phones, Computers, TVs, etc. Those shopping trips to Walmart, Target, Dick's, Cabellas, Bass Pro Shops, just got that more expensive.

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Response to ProudMNDemocrat (Reply #27)

Fri Aug 23, 2019, 06:45 PM

31. I think you forgot

it's the Chinese paying these tariffs, not Americans

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Response to crazytown (Reply #31)

Fri Aug 23, 2019, 07:13 PM

42. Doh!!!

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:44 PM

30. Why doesn't Chief Chickenshit tell supporters to stop buying Chinese goods?

Oh wait....

He would then have rebellion from his billionaire retail executives that help fund his campaign.....

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Response to KY_EnviroGuy (Reply #30)

Fri Aug 23, 2019, 10:49 PM

59. Then nobody would buy his swag. Hats, flags, signs, etc.

Made in China

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Response to SharonAnn (Reply #59)

Fri Aug 23, 2019, 11:25 PM

60. LOL, good point. Probably some of Ivanka's stuff as well.

...........

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:52 PM

33. Trade wars are good, and easy to win.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:53 PM

34. Much better in the original Klingon!

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Response to B Stieg (Reply #34)

Fri Aug 23, 2019, 06:59 PM

37. ...





(the movie is almost 30 years old... ack)

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Response to BumRushDaShow (Reply #37)

Fri Aug 23, 2019, 07:59 PM

50. "Well...we have a long way to go"

👍

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Response to FailureToCommunicate (Reply #50)

Fri Aug 23, 2019, 11:41 PM

61. Film clip repeats what the ultra-wealthy say: "We need our breathing room" with...

private islands, offshore accounts, private schools, four homes and mega-yachts.

We indeed have a very long way to go to achieve fair global economic equality.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 06:56 PM

36. Trump said on March 2, 2018, "Trade wars are good, and easy to win."

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Response to left-of-center2012 (Reply #36)

Fri Aug 23, 2019, 07:21 PM

45. Trump Also Said

"Only I çan fix it".

That is going about as well as the other false promises.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:01 PM

38. Has Trump blamed the Dems yet for his own reckless actions

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Response to sakabatou (Reply #38)

Fri Aug 23, 2019, 07:07 PM

39. It's only a matter of time

Powell was actually originally nominated by Obama to be on the Fed board and is a Republican. A definite conundrum to say the least!

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:08 PM

40. Don't worry, mexico will pay for it. nt

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:13 PM

41. Billion$ of new Trump taxes spelled t-a-r-i-f-f-s.

Billion$ of new Trump taxes spelled t-a-r-i-f-f-s.

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Response to keithbvadu2 (Reply #41)

Fri Aug 23, 2019, 07:14 PM

43. Every republican running should be tied to these taxes on American manufacturers and consumers.

Every republican running should be tied to these taxes on American manufacturers and consumers.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:21 PM

44. Doubling down on stupid

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:27 PM

47. Dems ought to be pinning all the lies, craziness, ignorance, lawlessness, mistakes, and

arrogance on the GOP every day.

This is their show, entirely, and they sit on their hands.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:33 PM

48. Good. I'll start cutting my purchases.

Time to get into recession mode.

I suggest all businesses pass along ALL of the tariff to consumers.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 07:38 PM

49. Molly Ivins - "The first rule of holes: When you're in one stop digging."

Last edited Fri Aug 23, 2019, 08:12 PM - Edit history (1)

An entirely predictable response from this twithole. He always, always digs in. He will double, triple, quadruple, etc, down, never admitting he's wrong or that he made a mistake. He's as predictable as a sunrise. This is our fate folks. We're in this until this bully realizes he can't win and make China submit to his crazy whims, at least as long as he holds his current office. He still thinks he's dealing with some construction union/contractor from NYC. And as long as the pubbies control the Senate, don't expect much more than "concern" and hand wringing, but if they did protest, would he even listen? His record for that so far has been 'iffy' at best. I mean, this would be a direct challenge to his authority! (And I have no faith at all in them forcing him to do the right thing - unless it directly affected their re-election prospects. And given the current Red state zaniness & political nihilism, do you really want to make that bet?)

Given that the man is completely off his rocker and a total idjit ('da cheez done slid off his cracker' per one commenter), not to mention a coward, this probably means never, or until this whole thing collapses around us in complete economic chaos. His psychosis & narcissism won't allow him do anything else. He always has to be seen as "winning". He'll take the whole world economy down so long as he "wins"!

And I was just starting to really enjoy my retirement...…..

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 08:04 PM

51. Orders from putin, nothing else

Your president is under orders to DECIMATE our country

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 08:19 PM

53. It will not get any better.

If it does his base is gone.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 08:24 PM

54. But he said that would wait until Christmas- WTF is he doing?

I really wanted to get my fancy new Fruit Phone for Christmas this year, but the 30% tariff will make my butt hurt. What can you do to fix this, oh Majorly Masturbating Monster of Merchantism?

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 08:25 PM

55. Let him run, let him run, we should sit back and watch as he runs and barks.......

there is going to be and end to the chain. The correction will be epic. There will be just enough hang-time in the air for him to think about how hard that ground is going to be when he hits.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 09:14 PM

56. GREAT move tRUMP! that ought to

Put HOBBY LOBBY out of business!!!

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 09:29 PM

57. problem solved

That's okay. Apple will be able to substitute all of its Chinese vendors with Braziian ones!

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 10:41 PM

58. The first President to be directly responsible for causing a recession.

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Response to BumRushDaShow (Original post)

Fri Aug 23, 2019, 11:44 PM

62. I'm sure there must be something in the Ferengi

Rules of Aquisition that covers this foolishness.

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Response to procon (Reply #62)

Sat Aug 24, 2019, 02:42 AM

64. The Ferengi

would realize very quickly they're dealing a blustering imbecile and take full advantage of that to strike a deal that would benefit them quite handsomely.

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Response to procon (Reply #62)

Sat Aug 24, 2019, 05:30 AM

65. He has followed many of them, but notably the very first!

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Response to BumRushDaShow (Original post)

Sat Aug 24, 2019, 01:04 PM

66. "Oh yeah? Well I'll raise tariffs eleventy-eleven percent!1!11"

Signed, the psycho in charge.

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