Trump: If Tariffs Are Making Life Difficult For Your Company, The Company Sucks

[Zippyjuan]

Your fault- not his trade war. Always blame somebody else.


Trump blames companies impacted by his trade war

President Donald Trump on Friday appeared to accuse companies of falsely claiming that they've been hurt by his escalating trade war with China, instead saying they're mismanaging their businesses.

“If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management...and who can really blame them for doing that? Excuses!” Trump wrote on Twitter Friday.

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Trump’s comments come just days before the U.S. is set to impose new tariffs on China in two rounds, with the first due to start on Sept. 1. The 10 percent tariff on approximately $112 billion of Chinese goods would likely raise prices for consumer items like electronics and shoes.

In one example of corporate America complaining about Trump's trade war, the Footwear Distributors and Retailers of America wrote a letter to the president this week stating that the planned tariffs would drive up costs for consumers.

“Imposing tariffs in September on the majority of all footwear products from China — including nearly every type of leather shoe — will make it impossible for hardworking American individuals and families to escape the harm that comes from these tax increases,” the group wrote. “This uncertainty the China trade war has brought to our industry is stifling U.S. growth and halting capital investment in jobs, infrastructure, technologies, and more competitive pricing for our customers.”

In an interview with CNN’s Richard Quest, White House trade adviser Peter Navarro vigorously defended his boss’s use of tariffs.

“Absent the tariffs that have been put in place on China, China would never have come to the bargaining table and advanced this far in those negotiations,” Navarro said. “President Trump is using the tariff strategy brilliantly.”

Trump defended his strategy after Sen. Pat Toomey (R-Pa.) said “there’s no question” the trade war is contributing to a slowdown of the economy.

"So what does Pat Toomey want me to do? Does he want me to say let me put my hands up and let China continue to rip us off?" Trump fired back in an interview on Thursday with Brian Kilmeade on Fox News Radio. Trump later added that talks with China would continue.

"I think they want to make a deal," Trump said. "I sort of think they have to make a deal."

[Swordsmyth]

He's right.
China has been absorbing most of the cost.

[TheTexan]

He's right.
China has been absorbing most of the cost.

China is absorbing so much of the cost, it's really quite tremendous, how much of the cost they're absorbing :up:

[oyarde]

I'd say overall that is correct .

[juleswin]

Your fault- not his trade war. Always blame somebody else.

I was just about to type, "Silly Zippy, always making things up about Trump" And then I read the tweet and to my surprise, he is right this time. The part that surprised me is that some of Trump's fan boys actually agreed with the tweet. Reminds me of liberals who think businesses who can't compete when minimu wage increases are just bad business people.

[Swordsmyth]

I was just about to type, "Silly Zippy, always making things up about Trump" And then I read the tweet and to my surprise, he is right this time. The part that surprised me is that some of Trump's fan boys actually agreed with the tweet. Reminds me of liberals who think businesses who can't compete when minimu wage increases are just bad business people.
It's more like saying a business can't compete if it requires government welfare because that's what the Chinese have been giving them.
And the Chinese are absorbing most of the tariff costs so they are STILL getting foreign welfare.

[Superfluous Man]

The part that surprised me is that some of Trump's fan boys actually agreed with the tweet.

That is the part that surprises me the least.

[jkr]

TRUE

AND THAT COMPANY IS THE FED

[kahless]

That is the part that surprises me the least.

What is not to like about a President defending American interests in economic warfare from a clearly established Communist enemy.

Those that shill and defend China and Xi are the enemy just the same.

[Stratovarious]

Your fault- not his trade war. Always blame somebody else.

You finally got something right even though you're being sarcastic, it is somebody else's fault ;
China, tariff us, we have the right and obligation to tariff you .

[Ender]

That is the part that surprises me the least.

Yep-

Good summary of how tariffs destroy real business:


Tariffs are the favorite ploy of the Mercantilist; however, the unintended consequences of tariffs abound, causing pain for many industries, including agriculture, energy, steel, automotive, retail and, now, information technology. Most all U.S. industries are losing sales momentum because of tariffs or concerns about tariff policy. This means GDP might quickly revert from a robust 3 plus percent to under 2 percent.

The steel industry, protected by 25 percent tariffs since Q-1 of 2018, is doing poorly since the imposition of these tariffs. In January 2018, U.S. Steel stock traded at $44 a share; now after 15 months of tariffs, the stock has declined to $11, and many analyses have “Sell” ratings on the stock. Investors who purchased the stock at $44 believing that tariffs would yield large profits have lost 75 percent of their investment.

U.S. industries using steel lost 200,000 jobs during the Bush steel tariffs earlier in this century. Many small companies permanently shut down and, in many cases, buyers purchased finished products on the international market, which were not subject to tariffs.

The U.S. automobile industry is suffering a similar decline due to excessive regulation, high labor costs, and, now, onerous tariffs. General Motors stock trading at $33 has declined from $44 in the last 17 months. If tariffs are imposed against all Mexican imports, GM will continue to lose sales and jobs.

Retail sales have been decimated by competition and obsolete business models, which has resulted in the closure of thousands of retail stores. If additional tariffs are imposed on retail goods, it will be catastrophic for this industry. New tariffs will also force consumers to buy higher-priced goods and effectively lower their standard of living.


Full article here:
https://spectator.org/tariffs-a-threat-to-americas-gdp/

[Swordsmyth]

Yep-

Good summary of how tariffs destroy real business:



Full article here:
https://spectator.org/tariffs-a-threat-to-americas-gdp/
Just like the Great Depression there are other factors at fault and tariffs are being made a scapegoat, only this time they are defensive instead of aggressive.

Ron Paul: Trump Trade War "Not Root Cause Of Downturn", The Fed Is! (https://www.zerohedge.com/news/2019-08-20/ron-paul-trump-trade-war-not-root-cause-downturn-fed)

[oyarde]

I was just about to type, "Silly Zippy, always making things up about Trump" And then I read the tweet and to my surprise, he is right this time. The part that surprised me is that some of Trump's fan boys actually agreed with the tweet. Reminds me of liberals who think businesses who can't compete when minimu wage increases are just bad business people.

Tariffs have had no effect on me or any of my businesses . I do not though take any govt subsidies , import anything etc

[Ender]

Just like the Great Depression there are other factors at fault and tariffs are being made a scapegoat, only this time they are defensive instead of aggressive.

Ron Paul: Trump Trade War "Not Root Cause Of Downturn", The Fed Is! (https://www.zerohedge.com/news/2019-08-20/ron-paul-trump-trade-war-not-root-cause-downturn-fed)

And the trade war just intensifies it:

Are Recessions Inevitable?
By Ron Paul

Ron Paul Institute


President Trump’s imposition of tariffs (which are a form of taxes on American consumers) has been particularly harmful. The tariff war has not just raised prices on imported consumer goods. It has also cut off markets for export-reliant businesses, such as manufacturers that import materials used to construct their products.

The trade dispute with China may be the event that pushes the US economy into a major recession or even a depression. However, the trade war is not the root cause of the downturn. The next recession, like every recession since 1913, will come stamped “Courtesy of the Federal Reserve.” The only way to end the boom-and-bust cycle and restore peace, prosperity, and liberty is to end the welfare-warfare state, repeal the Sixteenth Amendment, and audit then end the Fed.

Tariffs Are Not the Answer
By Ron Paul

Ron Paul Institute


President Trump’s claim that trade wars can be easily won is as credible as the neoconservative claim that the Iraq War would be a cakewalk. A trade war would likely push the global economy into a recession or worse. Instead of imposing costs on American businesses and consumers and putting those whose livelihoods depend on imports out of s job, President Trump should address the real causes of our economic problems: the welfare-warfare state, the IRS, and the Federal Reserve.

[Swordsmyth]

And the trade war just intensifies it:

Are Recessions Inevitable?
By Ron Paul

Ron Paul Institute



Tariffs Are Not the Answer
By Ron Paul

Ron Paul Institute
I disagree with Ron about defensive tariffs and the effects of foreign trade warfare, I'm not going to go in to it here.

The Fed is the problem just like last time.

[brushfire]

No mention of inflation, cpi, or the stagnant household income? What about the fed?

That evil china and the sh!t companies that manufacture goods there have been compensating for the sh!t economic policy that has plagued this country for decades.

They should quit fking over the average household, all but eliminate the income taxes on these households, and see what kind of impact it has on the sh!t companies. Let people choose with their dollars - if they have more, they'll choose innovation, quality, and service over cost. Folks had been buying chinese sh!t because its all they could afford.

[Swordsmyth]

No mention of inflation, cpi, or the stagnant household income? What about the fed?

That evil china and the sh!t companies that manufacture goods there have been compensating for the sh!t economic policy that has plagued this country for decades.

They should quit fking over the average household, all but eliminate the income taxes on these households, and see what kind of impact it has on the sh!t companies. Let people choose with their dollars - if they have more, they'll choose innovation, quality, and service over cost. Folks had been buying chinese sh!t because its all they could afford.
+Rep

[phill4paul]

Improvise, adapt, overcome. Or fail as new start ups do. It's a a NEW America.

[Swordsmyth]

Improvise, adapt, overcome. Or fail as new start ups do. It's a a NEW America.
It's the old America.
Coolidge would be proud and so would the founders.
MAGA!

[Superfluous Man]

What is not to like about a President defending American interests in economic warfare from a clearly established Communist enemy.

Those that shill and defend China and Xi are the enemy just the same.

Opposing tariffs does not equal defending China.

Supporting tariffs does equal opposing the interests of the American people.

[Swordsmyth]

Opposing tariffs does not equal defending China.
Not always, but that is what some are doing.


Supporting tariffs does equal opposing the interests of the American people.
Not at all.

[r3volution 3.0]

Tariffs have had no effect on me or any of my businesses . I do not though take any govt subsidies , import anything etc

Tariffs increase the price of domestically produced goods as well as imports.

That's one of the major purposes; to allow domestic producers to raise prices.

If you buy any type of good produced in China (even if the brand you buy isn't produced in China), you're probably paying a higher price.

[juleswin]

Tariffs increase the price of domestically produced goods as well as imports.

That's one of the major purposes; to allow domestic producers to raise prices.

If you buy any type of good produced in China (even if the brand you buy isn't produced in China), you're probably paying a higher price.

One thing I have learned from observing Oyarde is that absolutely nothing govt does affects his life. Taxes, regulations, tariffs, climate change, immigration laws, minimum wage laws etc etc. Nothing gets to him

[Dr.3D]

Much of what goes into "American made products", is made in China. If it becomes profitable to produce those parts in the U.S. jobs will be created and the U.S. will become more prosperous.

Try finding an automobile that doesn't have Chinese parts. The automobile companies have been outsourcing more and more of their jobs to China through the years. I've watched it happen for the past 40 years and it's not a pretty sight.

[Zippyjuan]

Not always, but that is what some are doing.

Opposing tariffs does not equal defending China.

Not at all.

"If you aren't with us, you are supporting the terrorists!" (which led to the Patriot Act and the wars in Afghanistan and Iraq).

[r3volution 3.0]

One thing I have learned from observing Oyarde is that absolutely nothing govt does affects his life. Taxes, regulations, tariffs, climate change, immigration laws, minimum wage laws etc etc. Nothing gets to him

It's pretty impressive, paying no taxes, buying nothing from anyone else, constructing a laptop from pinecones found in the national park.

https://media0.giphy.com/media/pHiWkDofYnRv2/source.gif

[Swordsmyth]

Much of what goes into "American made products", is made in China. If it becomes profitable to produce those parts in the U.S. jobs will be created and the U.S. will become more prosperous.

Try finding an automobile that doesn't have Chinese parts. The automobile companies have been outsourcing more and more of their jobs to China through the years. I've watched it happen for the past 40 years and it's not a pretty sight.
Americans were much better off before we let China destroy us with trade warfare, only super rich globalists have benefited.

[oyarde]

One thing I have learned from observing Oyarde is that absolutely nothing govt does affects his life. Taxes, regulations, tariffs, climate change, immigration laws, minimum wage laws etc etc. Nothing gets to him

By design , but yeah , I support no minimum wage , no longer pay income taxes , not effected by tariff , understand there is no global warming , would not care if there was as I would personally benefit from it and could care less if any immigrants were accepted . Regulations ? those are for peasants .

[TheTexan]

It's the old America.
Coolidge would be proud and so would the founders.
MAGA!

America is so great now that we have tariffs!

It was the one thing this country was missing :up:

[Superfluous Man]

Tariffs have had no effect on me or any of my businesses . I do not though take any govt subsidies , import anything etc

That's like a person in a low income bracket thinking that tax increases on high income earners don't affect them. Most likely, tariffs have had a big negative effect on you and your business. You can't avoid their costs just by not buying things that they're directly applied to.

[nikcers]

Tariffs increase the price of domestically produced goods as well as imports.

That's one of the major purposes; to allow domestic producers to raise prices.

If you buy any type of good produced in China (even if the brand you buy isn't produced in China), you're probably paying a higher price.

Not entirely. Its cheaper to produce things in higher quantities. If domestic sales increases in quantity prices can decrease as well with a decrease in production cost they still make more revenue. Domestic competition reduces the ability of vendors to raise prices.

[oyarde]

You guys must be buying a lot of new stuff .

[nikcers]

You guys must be buying a lot of new stuff .

Trumps trade policies have kept gas prices lower and the dollar strong which makes food costs low which is good for most lower income people.

[Swordsmyth]

That's like a person in a low income bracket thinking that tax increases on high income earners don't affect them. Most likely, tariffs have had a big negative effect on you and your business. You can't avoid their costs just by not buying things that they're directly applied to.
The only ones significantly affected are the Chinese, at a distant second there are the globalist oligarchs who use their money to hurt America.

[Pauls' Revere]

I remember some time back when the mantra from the left was "Don't buy from Walmart they import from China".

[Swordsmyth]

I remember some time back when the mantra from the left was "Don't buy from Walmart they import from China".

One of several correct positions that they used to have but that they have let the Republicans (or at least Trump and the conservative voters) take.

There is now MUCH more than a dime's worth of difference.

[oyarde]

I remember some time back when the mantra from the left was "Don't buy from Walmart they import from China".

Ya , but probably really just because there were no union dues dollars and graft going to dem politicians .

[Swordsmyth]

Ya , but probably really just because there were no union dues dollars and graft going to dem politicians .
Then China started buying them with far more money than the unions.