- b.c.,
As reported here:
Trump is raising your taxes today
A $1,000 anual tax on the typical US household
MEANWHILE:
Trump Attacks US Companies for Blaming Tariffs - Market Realist
Trump is raising your taxes today
"With far less fanfare than the "tax cuts" ...Trump signed into law in 2017, a series of tax hikes goes into effect today on thousands of everyday items imported from China.
A new tariff of 15% will be added to the cost of more than 40% of all consumer products imported from China on Sept. 1.
And on Dec.15, the 15% tariff will be assessed on another $155 billion worth of consumer goods from China.
At that point, there will be new Trump tariffs on virtually everything imported from China.
A new tariff of 15% will be added to the cost of more than 40% of all consumer products imported from China on Sept. 1.
And on Dec.15, the 15% tariff will be assessed on another $155 billion worth of consumer goods from China.
At that point, there will be new Trump tariffs on virtually everything imported from China.
A $1,000 anual tax on the typical US household
The tariffs hitting today will apply to thousands of products sold at Walmart (WMT), Target (TGT), Best Buy (BBY), Home Depot (HD), Ikea, Amazon (AMZN) and other retailers:
The non-partisan Congressional Budget Office in August projected that by 2020, Trump’s tariffs and trade war will reduce the level of real U.S. GDP by about 0.3% and reduce average real household income by $580.
That followed a JPMorgan Chase & Co. note to clients estimating that the latest round of tariffs will increase the average cost per U.S. household to $1,000 a year
-- up from $600 for duties enacted last year. That estimate is in the low range because it was based on a duty rate of 10%, before Trump increased it to 15%."
- Clothing and footwear such as sneakers, sweaters and baby clothes
- Electronics such TVs, monitors, and audio equipment
- Machinery such as printers, desktop computers, hand tools, and air-conditioner parts
- Plastic products such as tableware, buckets, and school supplies
- Leisure products
- Furniture
The non-partisan Congressional Budget Office in August projected that by 2020, Trump’s tariffs and trade war will reduce the level of real U.S. GDP by about 0.3% and reduce average real household income by $580.
That followed a JPMorgan Chase & Co. note to clients estimating that the latest round of tariffs will increase the average cost per U.S. household to $1,000 a year
-- up from $600 for duties enacted last year. That estimate is in the low range because it was based on a duty rate of 10%, before Trump increased it to 15%."
MEANWHILE:
Trump Attacks US Companies for Blaming Tariffs - Market Realist
"On Friday, Donald Trump apparently attacked US companies that have been struggling due to the ongoing trade war.
This morning, he tweeted, “Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management…"
This morning, he tweeted, “Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management…"