Very disappointing to see Seeking Alpha's Wall Street Breakfast actually state, "Tariffs have already seen the U.S. collect $63B from China in the 12 months through June, according to new U.S. Treasury data".

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Special Ops

You'd have to be Dumber than Dumb to claim that the U.S. is collecting Tariff money from China.


The U.S. importer of record pays the tariff.


This is basic Econ. 101a

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Special Ops

Maybe Trump economic adviser Larry Kudlow is now writing for Seeking Alpha?


The guy that claimed that "China just isnt the same economic powerhouse as it was 20 years ago" 


No Larry.

China is now 7X BIGGER !!

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SA Admin Daniel Hochman
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Here is a note from the editor included yesterday to explain:

"A correction has been made regarding tariffs. 'The U.S. has already collected $63B from Chinese tariffs in the 12 months through June, according to new U.S. Treasury data, and that bounty is set to rise.'


To note, tariffs are paid to the U.S. government by importers, although a number of Chinese companies offset some of the costs. Importers look to manage the duties in several ways including discounts, alternative sourcing, increasing retail prices, lowering profit margins or cutting company costs.

To clarify further: Most importers of Chinese-made goods are U.S. companies, or the U.S.-registered units of foreign companies that import goods from China."

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blackongreen
Quote from SA Admin Daniel Hochman

Here is a note from the editor included yesterday to explain:

"A correction has been made regarding tariffs. 'The U.S. has already collected $63B from Chinese tariffs in the 12 months through June, according to new U.S. Treasury data, and that bounty is set to rise.'


To note, tariffs are paid to the U.S. government by importers, although a number of Chinese companies offset some of the costs. Importers look to manage the duties in several ways including discounts, alternative sourcing, increasing retail prices, lowering profit margins or cutting company costs.

To clarify further: Most importers of Chinese-made goods are U.S. companies, or the U.S.-registered units of foreign companies that import goods from China."

Thanks, Daniel.  These clarifications are fair, but it was sloppy reporting for SA to ignore that US importers (my company is one of them) bear the full brunt of the tariffs in situations (like ours) where the market will not accept price increases and a suitable non-tariffed source is not available.