New round of tariffs on Chinese imports takes effect

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>>>WE’RE IN AN INCREDIBLE NEGOTIATING POSITION AND WE HAPPEN TO BE TAKE IN BILLIONS AND BILLIONS AND BILLIONS OF DOLLARS.>>STARTING TODAY A NEW WAVE OF TARIFFS SET TO TAKE EFFECT. 15% OF TARIFFS ON $112 BILLION OF GOODS COMING FROM CHINA, CLOTHING, ELECTRONICS AND MEAT AND DAIRY. WHAT DOES THIS MEAN FOR YOUR WALLET? LET’S BRING IN PETER MAW RECY. HOW ARE THESE TARIFFS GOING TO IMPACT THE AVERAGE AMERICAN IN.>>NOT AS MUCH AS THE CRITICS SAY. WE’RE CERTAINLY NOT GOING TO BE PAYING $17 BILLION MORE FOR THE STUFF THAT WE BUY. THE CHINESE HAS GONE DOWN. THAT GIVES ALL IMPORTERS A DISCOUNT. IMPORTERS HAS OPPORTUNITY TO FIND SUPPLIERS OUT OF CHINA. IN TERM CHINESE SUPPLIES CUT PRICES AND CONSUMERS CAN MAKE CHANGES. THIS IS BASIC EXCISE TAX SHIFTS. WE TEACH IT THE FOURTH OR FIFTH WEEK OF PRINCIPLES OF ECONOMICS. AND WHEN THE CRITICS SAY YOU’RE GOING TO BEAR ALL OF THE TAXES, THEY HAVE FORGOTTEN THOSE ECONOMISTS WHAT THEY LEARNED IN SCHOOL. IT’S THE FLIP OF THEM SAYING INCREASING THE MINIMUM WAGE WOULD HAVE IN EFFECT AT ALL.>>LET ME ASK YOU THIS. THERE’S A REPORT THAT JP MORGAN SAYING THIS IS GOING TO COST THE AVERAGE AMERICAN FAMILY 1,000 DOLLARS PER YEAR. DO YOU AGREE WITH THAT IN.>>THAT’S A BIG NUMBER AND I REALLY DOUBT IT. YOU SHOULD BASICALLY GO IN THERE AND DO A BLIND POLL, HIT A COMPUTER KEY. WHO DID YOU VOTE FOR LAST TIME, TRUMP OR CLINTON.>>DO YOU THINK THEY’RE DOING THIS ON THE COAST, THE NEW YORK-CALIFORNIA RESEARCH OF JP MORGAN.>>THAT’S WHAT’S GOING ON. I DID A HIT ON NATIONAL PUBLIC RADIO. CONSUMERS PAY 10% OF THE TAX. I WOULD LIKE TO KNOW WHAT SHE’S TEACHING. IF YOU PUT AN EXCISE TAX ON SOMETHING, THE PRODUCERS PAY PAR OF IT, THE CONSUMERS PAY PART OF IT. IN THIS CASE THE PRODUCERS ARE BEING HIT BECAUSE THE VALUE HAS GONE DOWN. WE GET A DISCOUNT ON EVERYTHING, NOT JUST THE 112 BILLION BUT EVERYTHING.>>PROFESSOR EVEN THOUGH YOU MAY DISAGREE WITH SOME PEOPLE AS TO THE DEGREE OF WHAT IS GOING TO BE HAPPENING TO THE AMERICAN PEOPLE, YOU ACKNOWLEDGE SOMETHING IS GOING TO BE HAPPENING. IN THE LONG RUN IS IT GOING TO BE WORTH IT?>>ABSOLUTELY. WE DON’T WANT TO BE IN TUTELAGE TO THE CHINESE. WE DON’T WANT TO BE THEIR SERVANTS. THEY’RE USING THESE TRADE TACTICS TO STEAL OUR TECHNOLOGY, ERODE OR COMPETITIVE ADVANTAGE. THEY’VE BEEN VERY CLEAR THEY WANT TO BE GLOBALLY DOMINANT, ESTABLISHING AN EMPIRE. THIS IS ABOUT AMERICAN FREEDOM. THIS IS MUCH MORE IMPORTANT THAN THE PRICE OF A TV SET OR A LOVE SEAT.>>YES OR NO ANSWER, DO YOU SEE A COMPROMISE COMING UP ANYTIME SOON BETWEEN THE U.S. AND CHINA IN.>>I THINK WE’RE HEADING TO A STALEMATE AND HAVE TO LOOK AT PLAN B, REDIRECTING THE SUPPLY CHAIN TO SOUTHEAST ASIA. NO REASON TO BELIEVE THAT WE NEED TO BUY EVERYTHING FROM

100 COMMENTS

  1. Not much of a tariff. 15% on 3% of the economic activity means that they go up from 3.000% to 3.045%. WOAH, run to the bank. We could hit china with a 100% tariff and not feel it. At this rate of 100% it would raise prices 3 cent on the dollar. At the current rate it is raising the price less than half of 1 cent. These costs are being born by the Chinese only at this rate. The cost of doing business absorbs such tiny wiggles in prices. This is why no American has felt anything and will not.

  2. It's really sad the way Trump's base defend his every actions not carrying how it affect anyone else's well being, family, jobs, shelter, farms ect. just as long as Trump disrupt and dismantle government to their liking. I've never seen a zombie effect as theirs and pretty soon they will turn on Fox the only station that cater to them… what will you idiots and sheep do after Trump because there's no rock to crawl back under.

  3. I hope everyone realizes that big business is going to use this as an opportunity to raise prices on everything, even if their costs are not affected.

  4. 60% of what you wear, eat, drive, your kids play with, kitchen, home , at work, everything everywhere is made by Chinese and good luck finding it cheap elsewhere.. unless you want to buy a toy that coat a 1 $ at the 99cents store and pay $50 bucks , oh wait that's what happened to Toys R Us. America like and want good deals , even our president would agree to that.

  5. Real quick and legit bro thanks with all the trust and confidence I finally received my passport today it is with great joy contact him for any paper work via +1 832 3040561

  6. Time to see between Trump and Xi who has more brains left to play on the remaining field. I think Xi Ida better striker than trump bacouse he can score from all angles. Trump only scores from one angle . Which makes Xi the most brilliant striker ready to win the trophy for his team "teamchina" unlicke Trump "teamusa" who's strike is on a decline. Xi strikes and defend in the game trump only strikes.

  7. $1,000 per year? Drink less booze ! Better health and save money. Win Win. There will be pain, so just spend less and shut up. The subsidies are in part paid for by the tariff revenue. USA is winning the trade war. Also lowering the Chinese currency is a sign of desperation. One key to this is whenever a round of tariffs occur, China never raises its tariffs more than the US. The US has already won this trade war monetarily and psychologically. There will be structural discomfort for a few years sure, but as other countries ramp up their production, they will fill the void that was once filled by China. As these other countries grow their economies, they will also demand more imports. A new opportunity for the west as access to their markets will be easier and without harsh conditions, including transfer of IP that costs billions if not trillions of dollars when all is considered. Factor all that into your national cost base and it becomes a total no brainer. These other countries economies will boom, as will their industrial capacities grow and become more sophisticated over time. Some will be cheaper, some more costly, but it will average out to the benefit of the USA and the west in general. Relying on a single large supplier is poor risk management, especially when that supplier is a communist dictatorship. Other growing nations across Asia and South America will grow their economies and populations and increase their imports from the USA. They will be competing with each other which will help contain prices. It's an opportunity for these other nations to be in the global economic drivers seat and not a passenger of dependency on a single large supplier. An opportunity for them to lead and become more capable nations to grow and contribute towards a democratic world. An opportunity for these other nations to take profits and not just save money. Economic growth is determined by profits through being industrious, rather than the ability to save and being economically stagnant. Never forget that fact. If you want to grow, you have to be a front seat driver. This is a 10 year plus eco-structural and geo-strategic readjustment for the better. Allied and favored democratic nations should reap the benefits of industrial growth, not tyrannical brutal communist dictatorships. Think about the long term, not selfishly about the quick fix.

  8. My crystal ball was made in the USA, but it still isn't always accurate. How does professor Morici know what will happen in the future?

  9. Americans are running head forward towards the Chinese wall. China needs to be dealt with, but don't let the worst business man in the history of the US set the strategy.

  10. Who did you vote to Clinton or Trump? Not answered!
    I voted KING President Donald J Trump and MY FIRST LADY doing great job. That's how it is and any way Donald J Trump will be in Whitehouse and HIS television telecast. For this television broadcast many rich-religious-poor-corporates-buracrats-merchants used FISA, FUSIONGPS, FireEye mirror in the eye with wiring to optical lobe of the brain and they were involved in ABUSE of the power.

    Why people need implants to abuse power? Is that Judicial and Constitutional? That's a serious CRIME and spying, and abuse of position & responsibility.

  11. Before Trump became president, 654 miles of the nearly 2,000-mile U.S. Mexico border had primary barriers. As of today, that hasn’t increased.

    To date, the administration has replaced about 60 miles of dilapidated barriers with new fencing. And a major component of Trump’s pledge — that Mexico would pay for the wall — hasn’t been part of the equation. U.S. taxpayers have paid the cost.

  12. Trump said that any American business who is hurting right now is not because of his tariffs but because of bad management. For once I have to admit that the president is speaking of something he knows well. He filed bankruptcy SIX times after mismanaging businesses. Trump is the ultimate bad manager/businessman, so we should listen to him on this!!!!!! He was blessed to have a daddy who had to continually pump hundreds of millions of dollars to save his obviously inept son, but Trump definitely knows about bad management (although likely he and his followers are in denial that he is horrible at managing anything).

  13. Trying to talk facts or even basic logic with a full-blown Trump supporter is the ultimate exercise in futility. Look at the crowd behind Trump at his rallies……….LMAO

  14. How can he lie so much? My 6 year old is incapable of matching his BS. Alabama getting hit by Dorian? Tarriffs are easy to win? Never heard of a cat 5 hurricane?
    Trump has been outsmarted by Kim ever since they fell in love.

  15. Prior to every Presidential election, Marketwatch and CNBC run negative web site articles on the US economy almost every day to aid the Democrats. He is correct about the Leftist political leanings of 'economists'.

  16. This is propaganda. Tariffs are taxes. And retaliatory tariffs are what are dooming our American businesses. Farmers are going bankrupt bc of this President.

  17. Let's do it! Time not to rely on China because of cheap goods. There are lots of countries in the waiting to fill China's shoes and would like to do business fairly without stealing your intellectual property so they could dominate.

  18. Would spending more money in ASEAN ultimately end up helping China since they already outsource a lot of their production there? I'm really concerned because they already own so much of debt and hold many good cards over in Asia we may have picked a tough fight.

  19. All Western Nations need to ban immigration from China and the Middle East… The more we allowed these people into our nations the more power THEY gained over us…

  20. can you please tell MSNBC or CNN this, They are getting this all wrong again for some unknown reason. Stop all trade with china or up all the tariffs to 75%

  21. Why does Trump keep lying. Consumers pay more. Look what he did to the farmers. He is creating debt to pay off the farmers to get their votes.

  22. Recession already began from last December, for the first time Amazon provides free shipping to any orders from their warehouse, at Silicon Valley retail is so slow that many stores closed, I don’t know why so many people believe tariffs is only bad to China.

  23. So if the tariffs are working and we are talking billions and billions of dollars, why is the deficit skyrocketing, and why we have to use Socialism to help those farmers?

  24. This is what I have been talked about since 2009 no more business with this lying cheating stealing Freedom Crossing piece of s*** regime government of China🇱🇷🇳🇴🇲🇽🇨🇦🇸🇳🇻🇳🇮🇲🇹🇴🇵🇫🇰🇷🇯🇵

  25. Mr. POTUS: Protect US jobs / businesses / Farmers!! Triple the Tariffs!!! Result? Those importers will find NO Profit in their Goods and Services. KICK START the American investors / Entrepreneurs with High Incentives, to produce those products in the USA. **An optional additional offset: Stop Bankrolling those Nations in need, With Cash!!! Those nations in need cannot eat money! They’re in need because their Corrupt Leaders, Cartels, and Organized Crime (like DemoCraps) etc., Skim off most, or ALL the Money (like Odumba$$ for $15 million mansion on the VineYard). INSTEAD take the cash normally sent, and Buy US Goods / Produce / Equipment, and give these things instead of Cash! Also insist on a US Representative being allowed to oversee on location, the distribution of the Goods etc. This will be a tremendous help to US Farmers and Manufacturers. We still help the needy nations as well as our own. Could result in increased Farming Jobs as well as Industry, cutting the waste.

  26. Mr. POTUS: STOP this back and forth with the Chi-Coms!! Go for the JUGULAR without delay and show NO Mercy. ( Use Hostile Takeover Principles) This what you MUST DO Before the upcoming elections. TARIFFS: US Consumer's pay the Tariff, ONLY by their own choice by buying the Tariff products. That is called informed consent!!! The Tariffs are paid by Chi-Com businesses/importers, the moment they enter the country—-whether they eventually sell or Not! Mr. POTUS, you Need to BREAK the BACKS of the Chi-Coms Economy BEFORE 2020, by raising the Tariffs to 100%-200% or however much it takes to bring them down. The Chi-Coms export to USA in a 5 to 1 $ Dollar Ratio. We would experience some effect but could Bite the Bullet long enough for this to work!!! Also, it would result in American Businesses Coming back home. Actively Solicit those businesses and Sweeten the Deal with some Tax Based Incentives. Think about how many new jobs that would be created. Those Businesses that won’t come home will just be SOL, as with Proper incentives the American Entrepreneur WILL RISE to the needs of the Nation!!!

  27. Well that little tax break just got wiped out and then some. Trumps going to put the country into a recession and the working-class will take the brunt of it while the wealthy skate away.

  28. He is 100% right, CHINA is using very cheap labor and a lot of it is made by prison with free labor then it's shipped to AMERICA with skyrocket price. America Traitors were build China for longest decade, it's about time for America to shape up for American lost. XI JINPING is playing with FIRE and President Trump is playing with WATER, WATER ALWAY WIN. China is on fire right now, economy and civil (protester), it won't belong, XI JINPING won't let his seat get on fire, he will looking for water to stop the fire. China is needing America, XI JINPING is needing PRESIDENT TRUMP, XI JINPING is needing PRESIDENT TRUMP to protect his lifetime PRESIDENT SEAT. American, be President Trump backbone to support his water flow to the direction that will be complete MAGA for AMERICA. God Bless America, God Bless American, God Bless Trump/Pence 2020, God Bless REPUBLICAN HOUSE 2020 (without RINO).

  29. Low I.Q Trump not a fan. I prefer presidents who don't have diseased brains. Mad cow Trump 🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔💩🍔🍔🍔🍔💩🍔🍔🍔🍔🍔💩🍔🍔🍔🍔🍔💩🍔🍔🍔🍔🍔💩🍔💩💩🍔💩🍔💩🍔💩

  30. When will criminal Trump bring his businesses back to America? I prefer presidents who are not criminal's 🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒🔒

  31. PRES. TRUMP = RESET BUTTON felling the long-established slump of political power and/or money grubbing by 1. American politicians and 2. foreign nations friend & foe but both "1" and "2" taking America and its citizen voters for-granted as a fool or fools to be easily tricked & exploited in trade and illegal-immigration threatening America's economy, sovereignty, and constitutional law etc. American-Lives-Matter that is far, far too often ignored or forgotten. We are a DEMOCRATIC REPUBLIC OF A FEDERATION OF STATES enriched by competition, innovation resulting from freedom, and capitalism … not a no-border socialist nation where everybody is equally poor and uninspired to excel.

    I am an American first, last, and always proudly descended from strong slaves into university-grads & military veterans so mixed with Black & White that is the past not the issues of today requiring Americans to protect America not lying, lawless illegal immigrants and foreign nations all exploiting America.

  32. THANKS PRES. TRUMP FOR MORE TARIFFS (TAXES) AGAINST CHINA: No cheap junk from The People's Republic of China? No problem. Buy instead from Taiwan (the Democratic-Republic China of the future), Central America, and best of all the United States of America. America's security & freedom is more important than economic loyalty to criminal-mafia-totalitarian China the criminal government of which is the international-lying, international-cheating, international-thieving and trickery, murdering of internal-dissidents Devil seeking global hegemony to replace America on the world stage.

  33. I had no clue we were eating beef and dairy from China? Why would anyone eat food shipped in from China? How the hell did this happen

  34. Buy USA made products. Make more factories here and convert what we not export into products here at home instead of exporting raw products and importing what others make from them. Simple.

  35. The stupidity of this deemed economic analyst/adviser to stress J.P. Morgans estimates of added cost to American consumers stems from their affiliation support of Democrats. Sure, maybe some of Wall Street voted for Democrat administrations, but he sure blatantly expressed who he voted for, and amplifies his biased support for Trump. Of course those who are in this camp at the consumer level are most unlikely to clue into this strategy.

  36. A simple example. I buy a product in China for $100 dollars that I sell in the U.S. for $110. Trump slaps a 10% tariff on that product. It now costs me $110 dollars. I sell the product for $120 ($110 plus $10) passing the cost of the tariff to consumers. China reacts by devaluing (making the Yuan weaker so I get more Chinese goods for my dollar) their currency so that instead of it costing me $100 dollars the product costs me $90 dollars. I pay a 10% tariff on this new cost. So now it costs me $100 dollars (rounded up from $99 dollars). I sell the product for $110. Who paid the cost of the product? Well technically I did but my costs did not change. Who really paid the tariff? It's obvious the Chinese did by lowering the value of their currency. To date the Chinese have devalued their currency by 15%. Expect this to increase to 30% to fully offset the tariffs.

  37. Read up on China's currency manipulation. They do not float this currency; they manage it using a "managed float regime". It is in no way similar to the Dollar/Yen/Euro. At the start of each trading day, China’s central bank sets a “reference rate” against which the renminbi is allowed to rise or fall no more than 2 per cent in onshore trading. This allows Beijing to move the currency as it sees fit by, for example, directing it downwards against the dollar to offset the impact of the tariffs Trump has slapped on certain Chinese exports to the US.

  38. Trump asked who is the real enemy of the US? – Chinese people or the Fed chairman? I ask who is the REAL president of the United State of America? – Donald Trump or Howard Stern?

  39. American politicians will be desperate for a deal to boost business confidence long before China ever is. The Americans have bitten off more than they can chew this time.

  40. Each time he says "billions and billions and billions" you know he doesn't have a clue how much it's gonna impact the us economy

  41. I don’t want my Apple products made in China where they could put spyware bugs. Make iPhone made in America . Designed in california!

  42. yeah that moron doesn't understand that China will shift their inventory and product to Vietnam or Taiwan, etc. What this idiot doesn't understand that the farmers are going to get hit again because China will discontinue buying even more agriculture .Its gone from 24 Billion down to 9 Billion. give it time it will be 0 . LOL US will lose big time as a result of these tariffs

  43. We sell some products from China and others from other countries where there aren't tariffs. The cost isn't a problem for us and we're willing to wait it out. China will take us down if we give in to them.

  44. There was a time that we didn't trade with China at all, because China was our enemy–they still are. How about just stopping ALL trade with our enemies!!!

  45. Because we the people don't really understand the Chinese language and so far we do not them to be comments and unless we're all understand what they are saying just English comments only.

  46. Excellent, read more to understand that the Chinese owe us many trillion dollars they HAVE STOLEN FROM US AND CONTINUE TO DO! THEY THRIVE ON CRIMINAL ENTERPRISE AND WILL SOON WIND UP LIKE ALL OTHER TOTALITARIAN GOVERNMENTS AND SADISTIC FOOLS! sm

  47. India owns some decent size islands in the Bay of Bengal (near Burma) called the ANDAMAN ISLANDS. Isolated from the socialist rhetoric and suffocating red tape imposed on the country by the left, over the 67 years till 2014, since the British left
    One large island can be leased for 99 years to an American to develop into a trade free zone. No heavy polluting units like semiconductor wafer fab. India's navy and CG can patrol the sea and prevent piracy. Min 50% jobs at lower levels for Indians. Equivt. of US laws to run the zone. WIN WIN for India and American companies

  48. Fact is tRump has dementia. That little tidbit pretty much trumps(pun intended) all his crimes. He's losing his marbles faster than Kellyanne Con Way can cram them back in his head. How f'd up do you have to be to not know your trophy wife is standing right next to you? Or wandering away getting off his plane and having to be corralled back to the limo. Couldn't say origins. Kept saying oranges instead. 3 times. He is insane in the membrane. Got no brain. Goin' insane. Impeach 45 NOW.  25th amendment?

  49. China will impose tariffs on Goods shipping to the US to the tune of 100% come August of 2020. This will put Trump in a tailspin and will force more negative spin on the USS election.

  50. I am long ago out of school but Peter Morici makes me want to go back to College just to take his class. This guy kicks but telling the truth…..Just what we ALL need. Thank You Professor Morici.

  51. Service Americans rights……stupid idiots morons who are not cared about own country and people…but selfishness gain wealth from China……the Chinese people can eat anything anyone alive…….

  52. U.S. companies that have their products manufactured in China are kind of quiet. But no worries, their CEO's will still earn 170 times for than you.

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