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Chinese exporters and the Beijing government absorb most US tariffs rather than passing them fully to American consumers. Commerce Secretary, Howard Lutnick: “
by greenavocado 9mo ago
Chinese exporters and the Beijing government absorb most US tariffs rather than passing them fully to American consumers.
Commerce Secretary, Howard Lutnick: “The model is clear: 10% tariffs or less are paid by the manufacturers, the distributors, the businesses,” he said. “The consumer doesn’t pay. The consumer doesn’t pay because the seller doesn’t want to raise prices, because if they could, they would, but they don’t want to sell less. So they eat it.”
https://www.zerohedge.com/markets/lutnick-beijing-eating-majority-chinas-52-average-tariffs https://www.zerohedge.com/markets/lutnick-beijing-eating-maj...
- jbm 9mo agoThe article we are commenting on literally says 96% is paid for by Americans. Do you have a reason to accept Lutnick's position?
- greenavocado 9mo agoSection 1 Paragraph 4: Every dollar of tariff revenue represents a dollar extracted from American businesses and households. Why am I not paying substantially more year over year for the wide variety of things I purchase?
- jbm 9mo agoI feel we should have an independent source by now if that was true. Thousands of Chinese suppliers all taking losses to keep market share seems unlikely. A government program would have been clearly shown too. I think it is more likely that goods are being labelled with different origins and being imported through preexisting treaties like NAFTA (I forgot the Trumpian name for his negotiated version), or that Economists are shameless modern tortoise shell baking shamans that we need to sacrifice to appease angry dead ancestors.
- annexrichmond 9mo ago“The German study said something that is in their interest to do so, so therefore it must be true”