Breaking: "Trump announces that tariffs on Chinese goods will increase"

[SteveG]

]edit] here's the story Marketwatch:
"Trump announces that tariffs on Chinese goods will increase"
you show'em, Donnie!

Trump says U.S. tariffs will increase on Chinese goods
Published: Aug 23, 2019 5:10 p.m. ET

President Donald Trump hit back at China Friday for its new tariffs on U.S. products by increasing American levies on Chinese goods. On Twitter Trump said 25% tariffs on $250 billion in Chinese products would rise to 30% starting Oct. 1. Separately, the remaining $300 billion in imports will be tariffed at 15% instead of 10% on Sept. 1. The trade brawl with China sent stocks reeling on Friday, with the Dow Jones Industrial Average DJIA, -2.37% dropping more than 600 points.

[Lemon Drop]

Conveniently timed after Friday market close.

He only understands the economy in one way - protectionism. And it's going to bring him and the economy down.

[Sarcany]

Lemon Drop wrote:
He only understands the economy in one way - protectionism.

I don't think his process is even that deep.

He learned early on in his presidency that messing with tariffs got him lots of attention.

And now he's throwing a tariff-tantrum.

[vision63]

Deals.

[SteveG]

"Trade wars are good, and easy to win"
- Donald Trump, March 2018

[cbelt3]

Christmas is ruined !!

[GGD]

Do you feel that this CNN headline is poorly worded.

"Trump threatens to lift tariffs on Chinese goods to 30% amid escalating trade war"

https://www.cnn.com/2019/08/23/politics/...index.html

Lift sounds like "remove tariffs", seems like "increase tariffs" would be a much better choice of words.

If it didn't also say "to 30% amid escalating trade war" I wouldn't have guessed that the true meaning.

[SteveG]

[Markintosh]

It was estimated that tariffs would cost the average American family $1000 BEFORE this new round of taxes tariffs were announced. What now? $1500? $2000?

Winning!

SMH

[bfd]

The outcome is fairly easy to predict. As consumers encounter higher priced imports, they'll put off purchases. Most of the junk is just that, junk. The tariff will take its toll on necessities like major appliances, but for most stuff that comes from China, some will pony up but many more will purchase fewer items. That should drive the economy into the ground even faster than what we're seeing now. The holiday buying season should tell the tale…