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Thread: Prices may be increasing on many products very soon

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    Default Prices may be increasing on many products very soon

    Tariffs on aluminum and steel will cause the price of any products made from these materials to increase. The auto industry will be hit by these tariffs. There may also be tariffs placed on autos made outside of the US. If you're planning to buy an auto, you may want to do it sooner, rather than later.

    Tariffs on goods made in China may cause price increases for many electronic consumer goods including mobile phones, tablets, computers, and televisions.

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    God/dess rickdugan's Avatar
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    Default Re: Prices may be increasing on many products very soon

    As a supporter of free trade, I've generally been against tariffs since forever. But the more that I come to understand how our trading partners behave in comparison to our much more open markets, the more that I am starting to warm up to the notion that something must be done.

    There is no doubt that certain products or industries will be hurt in the short-term by retaliatory tariffs, but there is a larger picture in play. The fact is that many countries already apply significant tariffs to our goods, far higher than anything that we impose upon their exports. Then there are market controls in many countries which limit, if not prohibit, certain items from the U.S. altogether. In the meantime, we leave the door almost wide open to sell almost anything that they want here.

    Then there is China, who has been pilfering our technology for decades by forcing U.S. companies to enter into joint ventures with entities controlled by China if they wish to sell in Chinese markets. This behavior has been tolerated for far too long. Also, I'm not even going to start on the many ways that some countries subsidize competitors to U.S. companies, both directly and indirectly.

    It is about time that something is done and if this means some short-term pain in order to achieve longer-term balance, then so be it. Most of the countries facing tariffs will be hurt much more than we will as they sell a lot more to us than we sell to them. If we do indeed get into a trade war, everyone will suffer for sure, but it will be far more crippling for them.

    But with all of that said, I don't think it is going to get too extreme before all parties sit down to the table and hammer out an agreement. Read "Art of the Deal' and you'll understand that the noise before the bargain is a classic Trump negotiating tactic. Our trading partners have become so comfortable with the status quo that they need to be shaken up a bit in order to believe that the U.S. is actually serious this time about alleviating some of these inequities.

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    Default Re: Prices may be increasing on many products very soon

    A term should be adopted to replace the term trading "partners". The term partners creates the impression of a commonality of interests. The only way some of these countries could be more adversarial would be armed conflict.

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    Default Re: Prices may be increasing on many products very soon

    America has an overcapacity to make steel and aluminum. Likely that prices will rise for steel and aluminum as US manufacturers put Americans back to work.

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    Default Re: Prices may be increasing on many products very soon

    The Trump Administration has come out with a new trade bill, called the Fair And Reciprocal Tariff Act, also known as the FART Act.

    http://www.businessinsider.com/trump...art-act-2018-7

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    Default Re: Prices may be increasing on many products very soon

    Quote Originally Posted by Zofia View Post
    America has an overcapacity to make steel and aluminum. Likely that prices will rise for steel and aluminum as US manufacturers put Americans back to work.
    The largest nail manufacturer in the US may be going out of business or moving to Mexico as a result of tariffs.

    http://money.cnn.com/2018/06/26/news...ses/index.html

    The Mid-Continent Nail plant in Poplar Bluff, Missouri, laid off 60 of its 500 workers last week because of increased steel costs. The company blames the 25% tariff on imported steel. Orders for nails plunged 50% after the company raised its prices to deal with higher steel costs.

    I don't know if this is an isolated event, or if we can expect to see many more factories closing or moving to another country.

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