Moneymoney

Sun Sep 1, 2019, 10:37 AM

Hello farmers...

Among the higher Chinese duties that took effect Sept. 1 include an extra 10% on American pork, beef, and chicken, and various other agricultural goods, while soybeans will get hit with an extra 5% tariff on top of the existing 25%.

Starting in mid-December, American wheat, sorghum, and cotton will also get a further 10% tariff. While China imposed a new 5% levy on U.S. crude oil starting from September, there was no new tariff on liquefied natural gas.

https://www.zerohedge.com/news/2019-09-01/us-slaps-new-tariffs-china-one-minute-later-china-retaliates

And speaking of economic impact, the Congressional Budget Office has 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. Separately,

JPMorgan has estimated 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%.

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Reply Hello farmers... (Original post)
uncledad Sep 1 OP
orson Sep 1 #1
uncledad Sep 1 #2

Response to uncledad (Original post)

Sun Sep 1, 2019, 12:17 PM

1. Stupidity has consequences

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Response to orson (Reply #1)

Sun Sep 1, 2019, 01:51 PM

2. And it results in more stupidity...

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Moneymoney