Results 1 to 10 of 10

Thread: Prices may be increasing on many products very soon

  1. #1
    God/dess
    Joined
    Sep 2006
    Posts
    5,342
    Thanks
    2,901
    Thanked 5,524 Times in 2,596 Posts

    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.

  2. The Following User Says Thank You to eagle2 For This Useful Post:


  3. #2
    God/dess rickdugan's Avatar
    Joined
    Apr 2010
    Location
    NYC
    Posts
    3,864
    Thanks
    3,576
    Thanked 6,336 Times in 2,140 Posts
    My Mood
    Amused

    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.

  4. The Following 3 Users Say Thank You to rickdugan For This Useful Post:


  5. #3
    Banned
    Joined
    Oct 2005
    Posts
    3,915
    Thanks
    1,807
    Thanked 3,149 Times in 1,746 Posts

    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.

  6. #4
    Featured Member Zofia's Avatar
    Joined
    Apr 2002
    Location
    Durham, North Carolina
    Posts
    1,980
    Thanks
    1,056
    Thanked 1,298 Times in 596 Posts

    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.

  7. The Following User Says Thank You to Zofia For This Useful Post:


  8. #5
    God/dess
    Joined
    Sep 2006
    Posts
    5,342
    Thanks
    2,901
    Thanked 5,524 Times in 2,596 Posts

    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

  9. #6
    God/dess
    Joined
    Sep 2006
    Posts
    5,342
    Thanks
    2,901
    Thanked 5,524 Times in 2,596 Posts

    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.

  10. The Following User Says Thank You to eagle2 For This Useful Post:


  11. #7
    Featured Member
    Joined
    Aug 2014
    Posts
    1,226
    Thanks
    3,143
    Thanked 1,164 Times in 624 Posts
    My Mood
    Fine

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

    Soybeans??? And not much oil fracking anymore. The oil companies developed a way to do it cheaper now. Unless you already have a lot of money. Things aren't looking too good now.
    You can't reason with stupid!
    It's a night of clowns and buffoons! - Maitre de in NYC

  12. #8
    God/dess rickdugan's Avatar
    Joined
    Apr 2010
    Location
    NYC
    Posts
    3,864
    Thanks
    3,576
    Thanked 6,336 Times in 2,140 Posts
    My Mood
    Amused

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

    For what it's worth, it looks like the pressure is intensifying for U.S. trading partners. The EU has now come to the table and is talking about easing trading restrictions as well as collaborating on the China trade problems. Meanwhile, China is experiencing a bear stock market, just had to devalue its currency and has had to put certain industries on government life support. If this continues, China may soon find itself in a major recession or even worse, a depression, so they cannot take too much more of this. In fact, China has already taken a softer tone on Trump in its state run media, some suspect in anticipation of having to come to the bargaining table soon.

    Say what you will about Trump's domestic social policies (for example, I hate his stance on immigration), he is doing a heck of a job with economic growth and more balanced trade policies will only fuel it further. The less we are forced to subsidize the rest of the world, the more that is kept and spent by our own people instead.

  13. #9
    God/dess SnuffleUffleGrass's Avatar
    Joined
    Mar 2009
    Location
    HearstCastle, Rosebud
    Posts
    5,252
    Thanks
    10,531
    Thanked 9,533 Times in 3,770 Posts

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

    Quote Originally Posted by eagle2 View Post
    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.
    Speaking as someone who knows, the Mexicans will be thrilled to be getting this new plant.

    Gracias Trump
    Beware the Pinkie Drama Queen...w000000 LA Woman, You're My Woman- The Doors













  14. The Following User Says Thank You to SnuffleUffleGrass For This Useful Post:


  15. #10
    Veteran Member RyanXO's Avatar
    Joined
    Apr 2016
    Location
    (:
    Posts
    467
    Thanks
    714
    Thanked 1,026 Times in 328 Posts

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

    I know I tend to focus too much on personal anecdotal evidence but I work at a manufacturing plant, and the steel tariff has hit us REALLY hard. We make auto parts. None of us will be getting a raise this year.

Similar Threads

  1. Replies: 0
    Last Post: 09-20-2011, 04:40 AM
  2. Jobless rate could be 16% and increasing
    By Deogol in forum Dollar Den
    Replies: 0
    Last Post: 06-09-2009, 11:34 AM
  3. Replies: 1
    Last Post: 02-16-2009, 08:16 AM
  4. Increasing stage presence?
    By Lovespell in forum Stripping (was Stripping General)
    Replies: 7
    Last Post: 06-20-2005, 11:06 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •