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Sep 11 2024
News
Tariff Myths, Debunked
Perhaps the silliest of all tariff myths is the one Donald Trump keeps repeating. By law, a U.S.-based person or company importing a product into the country will be liable for paying any tariff (tax) owed on that product. In theory, however, the ultimate burden of those taxes—who actually pays—will depend on whether a foreign seller wants to stay in the U.S. market so much that he’s willing
The Dispatch
Sep 09 2024
News
Trump’s Tariff Threats
During a September 7 rally in Wisconsin, GOP presidential nominee Donald Trump threatened to slap 100 percent tariffs on goods from countries that shun the U.S. dollar. Trump promised that he would push to keep the U.S. dollar’s status as the global reserve currency. This is not Trump’s first tariff threat. In previous campaign speeches he has threatened a 60 percent tariff on Chinese goods in
Daily Kos
Sep 09 2024
News
The Truth About Tariffs
As we get ready for tomorrow night’s big debate here’s one of the many lies Donald Trump will tell us.
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Daily Kos
Sep 11 2024
News
Trump totally misunderstands tariffs
Trump apparently believes that tariffs are paid by the government of the country of origin (“We’re gonna make China pay”). Nothing could be further from the truth. Tariffs are a tax charged on imports, and paid by the customer who buys the imported product. The goal of a tariff is to increase the price to the customer, so that the customer will instead buy the same product (or equivalent)
Daily Kos
Sep 13 2024
News
Biden finalizes increases to China tariffs
The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the president first announced in May. The tariff rate will go up to 100% on electric vehicles, to 50% on solar cells and to 25% on electrical vehicle batteries, critical minerals, steel, aluminum, face masks and ship-to-shore cranes beginning September 27, according to the US Trade
CNN Digital
Sep 13 2024
News
China disappointed at EU 'ignoring' tariff efforts
BEIJING, Sept 13 (Reuters) - China is disappointed at the EU Commission for ignoring efforts by industry to find solutions, the Chinese commerce ministry said on Friday, after the bloc rejected offers from electric vehicle makers for minimum import prices. The European Commission said it had received offers from electric vehicle makers in China for minimum import prices into Europe as a way of
Reuters