How Does a 10% Tariff on Imports Via Executive Action Grab You?

[InTheLight]

Washington (CNN) President-elect Donald Trump's transition team is discussing a proposal to impose tariffs as high as 10% on imports, according to multiple sources.

A senior Trump transition official said Thursday the team is mulling up to a 10% tariff aimed at spurring US manufacturing, which could be implemented via executive action or as part of a sweeping tax reform package they would push through Congress.

Incoming White House Chief of Staff Reince Priebus floated a 5% tariff on imports in meetings with key Washington players last week, according to two sources who represent business interests in Washington. But the senior transition official who spoke to CNN Thursday on the condition of anonymity said the higher figure is now in play.

http://www.cnn.com/2016/12/21/politics/donald-trump-tariffs/index.html


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[Crabtownboy]

It would mean an immediate price rise of 10% or more. Just what the working class needs a price rise and no pay raise.

Trump is going to be a disaster for the working class folk who put him in office.

Repent in leisure.

 

[Rob_BW]

I am generally against import taxes.

But as long as other countries tax American imports, I believe that our import tax rate should mirror theirs.

 

[Rolfe]

Just do not tax my cloudberries. They do not grow in the U.S.

 

[carpro]

It would mean an immediate price rise of 10% or more. Just what the working class needs a price rise and no pay raise.

No, It doesn't. But, even if it does, that shouldn't bother you in the least. You supported Obama shutting down the coal business and placing onerous emission restrictions on power plants that could eventually double everyone's electric bill, including "the working man" thet you pretend to be so concerned about. All for the public good, right? It was even good for the 191,000 miners he put out of work, right?

So you simply can't be against a 10% price increase on some products to protect American jobs, now can you? That would be hypocritical.

 

[Revmitchell]

I am not happy about it. I believe in creating an environment in which businesses will want to stay in the US rather than trying to force them. This is America, we are free, and we should support that.

 

[carpro]

I support tarriffs on goods originating in countries that cheat on their trade agreements with us, no matter who they are,

 

[carpro]

http://www.cnn.com/2016/12/21/politics/donald-trump-tariffs/index.html


Sent from my Motorola Droid Turbo

CNN, huh?

Beware of fake news. They are one of the world's worst.

 

[Revmitchell]

CNN, huh?

Beware of fake news. They are one of the world's worst.

yea if one is going to have a problem with Briebart it seems awful hypocritical to be ok with CNN or Politico

 

[InTheLight]

It's obviously a trial balloon. They want to gauge public reaction.

I noticed that nobody commented on using an executive order to impose the tariff--essentially taxation by proclamation.

 

[Rob_BW]

It's obviously a trial balloon. They want to gauge public reaction.

I noticed that nobody commented on using an executive order to impose the tariff--essentially taxation by proclamation.

Because even in the article the un-named source didn’t say whether it would be law or EO?

 

[Revmitchell]

A senior Trump transition official said Thursday the team is mulling up to a 10% tariff aimed at spurring US manufacturing, which could be implemented via executive action or as part of a sweeping tax reform package they would push through Congress.

I really do not understand this sentence from the op. Is the implementation part of what the Senior Trump transition team said or is that the speculation of the author? There is no direct quote so it is hard to tell.

 

[InTheLight]

I really do not understand this sentence from the op. Is the implementation part of what the Senior Trump transition team said or is that the speculation of the author? There is no direct quote so it is hard to tell.

Not sure why you cannot tell the difference between the two. It says right there "A senior Trump transition official said" How much clearer can you get?

 

[777]

It's obviously a trial balloon. They want to gauge public reaction.

I noticed that nobody commented on using an executive order to impose the tariff--essentially taxation by proclamation.

Well, Trump has said similar things before but I wish this person had gone on the record anyways. I'll comment on the possible EO - imposing tariffs is a legislative action under the US Constitution but Trump does have some arrows in his quiver:

http://www.cnbc.com/2016/12/05/five...ump-follow-through-on-his-tariff-threats.html

it could and probably would cause a trade war with China but their "most-favored" nation status is killing us.