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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (1135151)	5/17/2019 10:26:48 AM
From: Wharf Rat	Respond to of 1584163

Crunching Trump's tariff numbers: The numbers just keep rolling in showing there is no winning a full-scale trade war with China. Just lots and lots of losing. Via Gary Hufbauer, senior economist at the Peterson Institute for International Economics: “[T]he cost to an American family of three would be about $2,200 if Trump’s full package of 25% tariffs on $500 billion of merchandise imports from China is implemented. “In the case of the latest 15% additional tariffs on $200 billion, from 10% to 25%, that go into effect by the end of May … the direct cost is $30 billion and the likely indirect cost, through higher US producer prices, will be another $30 billion. Together, that’s $60 billion … about $550 per family.” China will absorb “no more than 5%” of the tariffs. Walmart warns on cost — Not especially good news, given where many Trump voters tend to shop via Reuters: “Walmart Inc. said … prices for shoppers will go up due to higher tariffs on imports from China as the world's largest retailer reported its best comparable sales growth for the first quarter in nine years. politico.com