The Media Has Been Lying To You About The China Tariffs
We're all used to the mainstream media's non-stop lies about Trump.
Not only do you have the mainstream media spreading lies, but you've also got the liberals who are making up the craziest things you've ever heard, then passing it off to the mainstream media to lie about the President.
Whatever happened to being wanting to have an honorable name? What happened to not wanting to be known as a liar? I guess they really don't care anymore.
Lately, though, it's gotten even worse.
Yes, there is a trade war and tariffs going on between the United States and China, but the news that we're mostly hearing about it in the news is completely fabricated.
So these tariffs, what do people actually think that they are? I feel that they get the impression that they believe their money is being destroyed or devalued.
You want to know what a tariff is? It's a tax. So if there is a 25% tariff on a product, that 25% tax that is in place is paid on imported goods.
Here is a breakdown of what we stand to actually gain from all of this from MarketWatch,
Apparently the most shocking part of this trivial tax hike is that it might raise the price of new Apple AAPL, -0.38% iPhones.
Last I checked, these were luxury items, right?
Meanwhile, the trade spat seems to be bringing down food prices. China is going to take less of our farm products. So wheat prices are down 20% since the start of the year. Soybeans are at 10-year lows.
Good for consumers, right?
No, no, of course not! Silly you. This is also bad news … for farmers!
And all this ignores the much bigger picture, anyway.
The tariffs are simply a means to an end. The president is trying to get China to start buying more of our stuff. He knows the so-called Middle Kingdom, which now has the second-biggest economy in the world, responds to incentives more than to nice words. These tariffs give China an incentive to open up.
OK, so China’s first reaction is just to retaliate. Big deal. That’s just posturing.
Right now we export less to China than we do to Japan, South Korea and Singapore put together. That’s the point. So the effect of China’s new tariffs on the U.S. are yet another rounding error. Even if China banned all imports from the U.S., that would amount to only 0.6% of our gross domestic product. And we’d sell the stuff somewhere else.
So don't worry people, this will pan out to be a good thing in the end. Trump is a deal-maker and he's making a deal. It just doesn't always happen immediately.