U.S. Manufacturers Blame Tariffs for Swelling Inflation

Wally

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Economists and policy makers are debating whether stimulus spending and easy monetary policy are fueling inflation. Many businesses say there is another culprit that should share the blame: import tariffs.

The Trump administration implemented tariffs on products including lumber, steel and semiconductors to shield American companies from a glut of cheap imported products from China and other countries.

,
 

Spoofin

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Yep, the media playing their role now and the left is going to lick it up.
#SheepBeSheep
 





GoodasGold

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Yes. If you think the inflation happening now is coming from tariffs you have lost your mind. The administration is, of course, going to try and shift the blame and the MSM is going to do their part to help. Sad.
What does Qanon have to say?🤔
 

Costa Rican Gopher

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Economists and policy makers are debating whether stimulus spending and easy monetary policy are fueling inflation. Many businesses say there is another culprit that should share the blame: import tariffs.

The Trump administration implemented tariffs on products including lumber, steel and semiconductors to shield American companies from a glut of cheap imported products from China and other countries.

,

Why did the inflation wait until 120 days into the Biden Admin to manifest?
 





Wally

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We should tax away this inflationary money oversupply!!!
 






jovs

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I've got to believe it's Supply Side caused inflation that will correct itself as COVID-19 eases around the world, going to take time though.
 

justthefacts

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Why did the inflation wait until 120 days into the Biden Admin to manifest?

It didn't

hrFs66h.png


 

justthefacts

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Section2

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tariffs definitely contribute to inflation. But I would say they pale in comparison to the lockdowns and pandemic response globally, and all the stimulus. Biden should eliminate tariffs, end stimulus spending, end covid unemployment support, and we can probably stave off inflation for now.
 

FormerFatOL

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Good article. That WSJ article pretty much refutes the tariff=inflation relationship. Steel and lumber prices actually declined pre-pandemic after a small spike right after the tariffs were implemented. A lot of other factors involved. Specifically for China, they devalued their currency to the dollar shortly after the tariffs were implemented to offset pricing disadvantages. Inflation currently is a factor of both COVID supply chain issues and massive stimulus liquidity in the system. The COVID piece will eventually wane. The "free" money piece has yet to be determined.

To quote an article snippet: "But labor unions and the steel industry are urging Mr. Biden to keep the metal tariffs in place, saying in a May 19 letter that the policy has enabled the industry to “restart idle mills, rehire laid-off workers and invest in the future.”".

I'm guessing Biden quietly keeps the tariffs.

Chart from the article:

tariff prices.png
 

Some guy

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Economists and policy makers are debating whether stimulus spending and easy monetary policy are fueling inflation. Many businesses say there is another culprit that should share the blame: import tariffs.

The Trump administration implemented tariffs on products including lumber, steel and semiconductors to shield American companies from a glut of cheap imported products from China and other countries.

,
This is 100% partially true.
Tariffs do raise prices

Biden has kept most trump tariffs.

the items you buy are more expensive but less likely to be from China
 

Wally

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the items you buy are more expensive but less likely to be from China

Not really, supply chain doesn't shift very fast.

If you are buying something from China you cannot just call someone else like you're ordering from Amazon vs Walmart.
 

Some guy

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Not really, supply chain doesn't shift very fast.

If you are buying something from China you cannot just call someone else like you're ordering from Amazon vs Walmart.
Yeah, that’s partially why the change was small and partially why we are still feeling the effects

And it isn’t 100% the cause of current price changes.




You disagree that tariffs cause price increases?
You disagree that tariffs cause people in moments to
 

Spoofin

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Tariffs caused inflation.
COVID caused crime increases in cities.
What a week! The MSM doin’ their thing. Ignorance is bliss, I guess. Lick. Lick.
 

justthefacts

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This is great. Conservatives have themselves wrapped around the axle on the topic of whether Biden will cause inflationary doom

 

justthefacts

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Tariffs caused inflation.
COVID caused crime increases in cities.
What a week! The MSM doin’ their thing. Ignorance is bliss, I guess. Lick. Lick.
Are you implying that the Wall Street Journal, owned by News Corp, is predisposed to helping Democratic administrations?
 

saintpaulguy

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Tariffs caused inflation.
COVID caused crime increases in cities.
What a week! The MSM doin’ their thing. Ignorance is bliss, I guess. Lick. Lick.
I'd have to say I do think COVID, and the restrictions put on people because of it, were a MAJOR cause of the riots a year ago. People do not sit idle well.
 

Spoofin

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Are you implying that the Wall Street Journal, owned by News Corp, is predisposed to helping Democratic administrations?
I'm saying Tariffs are not the major (or even a significant) cause of inflation (less maybe a couple niche markets). Read past the headline, look at what Former posted in post #19, or just take an objective view and you might be enlightened.
1622740239582.png
 

Spoofin

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I'd have to say I do think COVID, and the restrictions put on people because of it, were a MAJOR cause of the riots a year ago. People do not sit idle well.
Is that why crime continues to rise rather than fall?
 

saintpaulguy

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Is that why crime continues to rise rather than fall?
It continues to rise, in my opinion, because:
1. There are still people with loads of extra time and money. No need to go to work, no pressure to pay rent. Getting life back to normal will help a lot.
2. In places where the police have pulled back, gangs have filled the gap.
 

boofbonser

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It continues to rise, in my opinion, because:
1. There are still people with loads of extra time and money. No need to go to work, no pressure to pay rent. Getting life back to normal will help a lot.
2. In places where the police have pulled back, gangs have filled the gap.
Additionally, crime usually spikes during the summer regardless. Just to add on.
 




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