Thursday, August 1, 2019

BREAKING: Trump Announces More Tariffs On China Imports

UPDATE BELOW: New tariffs will impact  iPhones, other consumer electronics, toys and sneakers 

UPDATE BELOW: Trump blindsided China on the new tariffs

This is a developing story. Return to this post for updates.


The tariff freak is at it again.

President Trump has just tweeted out:

Trade wars are just idiotic. Instituting tariffs only hurt consumers and retaliatory tariffs result in hurting businesses as well.


U.S. soybean exports to China, the world’s biggest market, slumped in the first half to the lowest level in more than a decade.

China imported 614,806 tons of soybeans from the U.S. in June, according to customs data. That brought first half imports to 5.9 million tons, the lowest half-year level since at least 2004, according to Bloomberg.


Via CNN:

The new tariffs could hit US consumers harder than the earlier rounds. It would tax goods like iPhones and other consumer electronics, sneakers and toys.


Trump blindsided China on the new tariffs:

  • INSIDE WEST WING: There was a very passionate discussion in Oval today with Mulvaney, Lighthizer, others about China. Mnuchin wanted to give Beijing a heads-up about fresh tariffs threat. Trump overruled him, and tweeted with everyone still in Oval.…

    UPDATE 5

    From the Financial Times:

    Before departing for a rally in Ohio, Mr Trump said he might raise tariffs even more. The US president said the administration could increase tariffs in “stages” — starting at 10 per cent and moving to “well beyond” 25 per cent. But he added that he wasn’t looking to do that “necessarily”.



    1. Yeah, we should just let the communist at heart Chinese take advantage for ever and ever based on some libertardian idea that 'free trade' is always a great good. Sure would like to know from libertardians why there were not more jobs as a result of NAFTA.

    2. Does anyone have a link to an article on how it came to pass that Congress delegated (fairly recently I believe) to the President the right to unilaterally impose tariffs and their rates? Before the income tax and the FED's ability to buy the government's debt with printing press money solved the federal government's revenue issue, the issue of tariffs, along with the log-rolling and special interest pleading (e.g., bribes) that took place during the legislative process, involved the most important and profitable prerogatives of the Congress.

      Some interest group or groups have some real explaining to do.

    3. Yeah, I don't have enough white privilege to afford an i-Phone anyway and would not buy given Tim Cook's racist outlook toward whites. I guess the lefty hipsters will have to get an actual job to pay the difference or another loan from the government.

      Has China acquiesced on tariffs for American goods?