The Tariff Talk

[tsptalk]

That's a good question. This was on CNBC yesterday but everything has been changing so who knows right now? It may take some time.


Tariff receipts topped $16 billion in April, a record that helped cut the budget deficit

Customs duties totaled $16.3 billion for the month, some 86% above the $8.75 billion collected during March and more than double the $7.1 billion a year ago.

The fiscal year-to-date deficit fell to $1.05 trillion, which is still 13% higher than a year ago.

https://www.cnbc.com/2025/05/12/tariff-receipts-topped-16-billion-in-april-a-record-that-helped-cut-the-budget-deficit.html

 

[nasa1974]

There are still huge tariffs in place- more than when this began. So, yes, prices are going up, and trade is still now adversely affected by tariffs compared to six months ago.

Meanwhile - Trump announced a lowering of China de minimus tariffs- but it is still a minimum $100 tariff to order anything from China.

Trump Slashes ‘De Minimis’ Tariffs on Small Shipments From China

HONG KONG/SHANGHAI May 13 (Reuters) - The United States will cut the "de minimis" tariff for low-value items imported from China, a White House executive order said on Monday, further de-escalating a potentially damaging trade war between the world's two largest economies.

While their joint statement in Geneva didn't mention the de minimis duties, the White House order released later said the levies will be reduced to 54% from 120% for items valued at up to $800 sent from China via postal services, with a flat fee of $100 to remain, starting from May 14.

More:

https://www.wsj.com/economy/trade/trump-slashes-de-minimis-tariffs-on-small-shipments-from-china-ed27a01a?st=WetYm6&reflink

Ok so let me understand this. I buy something from Temu for $500 and there is a tariff of $100. I have to pay $600 for that item. But that $100 dollars then goes to the US Treasury, right?

 

[James48843]

Ok so let me understand this. I buy something from Temu for $500 and there is a tariff of $100. I have to pay $600 for that item. But that $100 dollars then goes to the US Treasury, right?

Yes, that is correct- the $100 tariff is a tax that is paid to the U.S. Treasury. There now is an additional stream of money coming in.

Unfortunately it still is nowhere near the amount needed to cover the deficit. We’re still stacking up debt. Now it’s just costing the little guys who buy things off temu, etc. more. The rich people don’t mind- it means they get to keep their tax breaks.

 

[nasa1974]

I don't mind paying my fair share of tax. The problem is not everybody pays their fair share. Of course, we all know that.
What really ticks me off (I'm being nice here) why do I have to pay more in tariff taxes to make the rich guys richer? Anybody disagree? Why do our kids have to not get breakfast or lunch at school to make rich guys richer? Anybody disagree? Why do millions of Americans have to lose health insurance to make rich guys richer? Anybody disagree? Is there fraud and abuse going on? Absolutely. But there is a right way and a wrong way to do it. And no, I don't have the answers.
To keep this from becoming a flame war just PM me if you agree with making rich guys richer on the backs of everyday Americans.
Off my soapbox feeling a little better. Until the next news update.

 

[rangerray]

I do mind paying my fair share of taxes because it isn’t fair at all. I pay too much taxes, all included.

I don’t think average consumers will absorb the full brunt of tariffs. Companies themselves will absorb some of it to remain competitive, possibly on both sides of the transaction. Companies will search for solutions to avoid tariffs.


Sent from my iPhone using Tapatalk

 

[James48843]

Gee, if only there was a way to make things better. Like Leviticus 25, the year of Jubilee.

In Leviticus 25, the Jubilee is a special year of release and restoration occurring every 50 years, following a cycle of 7 sabbath years (49 years total). It's a time of both spiritual and practical significance, encompassing elements like land restoration, debt forgiveness, and the release of indentured servants.

Key aspects of the Jubilee year in Leviticus 25:

• Rest for the land: All land is to be left fallow, and no work is to be done on it.
• Restoration of property: Land that has been sold is to return to its original owners.
• Debt forgiveness: Debts are to be forgiven, and those who have been enslaved are to be released.
• Proclamation of liberty: A trumpet is sounded throughout the land, proclaiming liberty to all.
• Holy day: The Jubilee year is to be considered a holy day, with a focus on rest and celebration.
• Return to ancestral property:Those who have been sold or have lost their land are to return to their ancestral property.
• Social justice: The Jubilee is designed to prevent the accumulation of wealth and land in the hands of a few and to ensure a more equitable distribution of resources.

Do you think Congress should pass that as a new law?

 

[tsptalk]

Trump says a 25% tariff ‘must be paid by Apple’ on iPhones not made in the U.S.

This is the latest jab at Apple from Trump, who over the past couple weeks has ramped up pressure on the company and Cook to increase domestic manufacturing.

Production of Apple’s flagship phone happens primarily in China, but the company has been shifting manufacturing to India in part because that country has a friendlier trade relationship with the U.S.

Some Wall Street analysts have estimated that moving iPhone production to the U.S. would raise the price of the Apple smartphone by at least 25%.

https://www.cnbc.com/2025/05/23/trump-tariff-apple-iphones-not-made-in-the-us.html

 

[tsptalk]

https://twitter.com/x/status/1925890583328862658