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Wed Aug 28, 2019, 05:54 PM

Zorro (9,811 posts)

Retailers howl as U.S. trade agency locks in 15% tariffs on September 1

Source: Reuters

The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.

The U.S. Trade Representative's office said in an official notice that collections of a 15% tariff will begin at 12:01 a.m. EDT (0401 GMT) Sunday on a portion of the list covering over $125 billion of targeted goods from China.

This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear.

U.S. Customs and Border Protection will also start collecting a 15% tariff on Dec. 15 on the remainder of the $300 billion list, including cellphones, laptop computers, toys and clothing, USTR said in the Federal Register filing.

Read more: https://finance.yahoo.com/news/u-trade-agency-affirms-trumps-142112350.html

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21 replies	Author	Time	Post
Retailers howl as U.S. trade agency locks in 15% tariffs on September 1 (Original post)	Zorro	Aug 2019	OP
Price hikes will reduce sales	bucolic_frolic	Aug 2019	#1
Employee hours already being cut in retail at an upscale mall near me	Freethinker65	Aug 2019	#2
Yay Christmas profit margins!	Kittycow	Aug 2019	#3
This does not bode well	Sherman A1	Aug 2019	#4
The Trump University Back to School Special	jpak	Aug 2019	#5
We must all sacrifice for our Deer Leeder.	dchill	Aug 2019	#6
Dial it back dude	keithbvadu2	Aug 2019	#11
OMGROTFL!	dchill	Aug 2019	#19
I was in a well-known retail department store today.	Lonestarblue	Aug 2019	#7
Wednesday's are the poorest	Wellstone ruled	Aug 2019	#14
I got my s.s. check and went shopping Wed. and Th.	Marthe48	Aug 2019	#21
Curtail demand at the tail end of an expansion....	paleotn	Aug 2019	#8
Billion$ in new Trump taxes.	keithbvadu2	Aug 2019	#9
Mexico will pay for it.	world wide wally	Aug 2019	#10
Wont there be black markets popping up?	rickford66	Aug 2019	#12
Merry Christmas season retailers and consumers, from Donald Trump.	TeamPooka	Aug 2019	#13
I've been thrift store & antique booth shopping for unique vintage gifts for Christmas.	CottonBear	Aug 2019	#15
Good old classical conservatism...	Dawson Leery	Aug 2019	#16
Well, watch the market tank on this news.	PatrickforO	Aug 2019	#17
So...much...winning	durablend	Aug 2019	#18
Another Obama success that dump is dispoiling	Marthe48	Aug 2019	#20

Response to Zorro (Original post)

Wed Aug 28, 2019, 05:57 PM

bucolic_frolic (13,991 posts)

1. Price hikes will reduce sales

so retailers will have to makeup the tariffs on lower volume, meaning prices higher than anticipated.

It's going to be a great Trump recession.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 05:59 PM

Freethinker65 (6,556 posts)

2. Employee hours already being cut in retail at an upscale mall near me

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:04 PM

Kittycow (1,910 posts)

3. Yay Christmas profit margins!

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:05 PM

Sherman A1 (26,760 posts)

4. This does not bode well

and the story of a second trucking company shutting down within 24 hours is very concerning.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:07 PM

jpak (37,552 posts)

5. The Trump University Back to School Special

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:14 PM

dchill (20,827 posts)

6. We must all sacrifice for our Deer Leeder.

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Response to dchill (Reply #6)

Wed Aug 28, 2019, 07:05 PM

keithbvadu2 (11,807 posts)

11. Dial it back dude

Dial it back dude

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Response to keithbvadu2 (Reply #11)

Wed Aug 28, 2019, 09:52 PM

dchill (20,827 posts)

19. OMGROTFL!

That's perfect.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:30 PM

Lonestarblue (1,427 posts)

7. I was in a well-known retail department store today.

It was practically empty. I saw one other shopper. Between Amazon and Trump’s tariffs, the retail sector is having big problems. Trump’s tariffs will drive us into recession faster.

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Response to Lonestarblue (Reply #7)

Wed Aug 28, 2019, 07:41 PM

Wellstone ruled (27,430 posts)

14. Wednesday's are the poorest

retail traffic days of the with the exception of Utah and Idaho. Monday at one of the Major's was a total dead traffic day. Retail Friends are seeing their hours cut do to lack of foot traffic. Usually,this is staff up time in Retail.

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Response to Lonestarblue (Reply #7)

Thu Aug 29, 2019, 03:06 PM

Marthe48 (4,090 posts)

21. I got my s.s. check and went shopping Wed. and Th.

I figured it would be quiet because school is starting, but it is really quiet. I thought it would be busier because of the holiday coming up and also Fair Week, but really not busy at all.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:51 PM

paleotn (5,970 posts)

8. Curtail demand at the tail end of an expansion....

Smart.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:53 PM

keithbvadu2 (11,807 posts)

9. Billion$ in new Trump taxes.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 06:55 PM

world wide wally (16,968 posts)

10. Mexico will pay for it.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 07:30 PM

rickford66 (3,507 posts)

12. Wont there be black markets popping up?

Not giving anyone ideas.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 07:35 PM

TeamPooka (16,268 posts)

13. Merry Christmas season retailers and consumers, from Donald Trump.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 07:47 PM

CottonBear (18,391 posts)

15. I've been thrift store & antique booth shopping for unique vintage gifts for Christmas.

I’m saving money for my kid’s braces, my dental work, major plumbing repairs, and car maintenance and repairs. We might buy a necessary new laptop for the family while back to school sales are still in effect.

We are only spending on essentials and absolutely necessary repairs.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 08:10 PM

Dawson Leery (17,716 posts)

16. Good old classical conservatism...

...never worked and never will.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 08:57 PM

PatrickforO (9,651 posts)

17. Well, watch the market tank on this news.

Seventy percent of our economy is based on consumption. You put a 15% tariff on Chinese imports and you ruin Christmas for millions of US families, not to mention retailers.

Oh, boy, Wall Street is going to scream on this one too. Of course the greed-heads will sell short, but sane people will realize this is a really bad thing, based on a really stupid policy.

That and the giant tax cut for billionaires and corporations that has basically busted the budget and ballooned the national debt.

Our person, whoever we elect, is going to inherit a real shit show of a mess to clean up.

There need to be trials for some of these criminals, starting with the orange maggot.

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Response to Zorro (Original post)

Wed Aug 28, 2019, 09:02 PM

durablend (4,322 posts)

18. So...much...winning

How can any of you stand it?

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Response to Zorro (Original post)

Thu Aug 29, 2019, 03:03 PM

Marthe48 (4,090 posts)

20. Another Obama success that dump is dispoiling

The only way dump can make a mark is to sandblast President Obama's achievements. The economic turnaround was one of Pres. Obama's greatest successes versus some of the toughest challenges. Leave to dump to tear it to the ground.

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