Tariffs Catch-All

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A $10 T-Shirt Could Become a $24.50 T-Shirt as a Key Tariff Loophole Closes​

Starting Friday, goods from China worth up to $800 will be subject to tariffs and more paperwork under new Trump administration rules.

www.nytimes.com

Are Shein and Temu Prices Going Up? What to Know as Trump Ends De Minimis Tariff Loophole

Starting Friday, goods from China worth up to $800 will be subject to tariffs and more paperwork under new Trump administration rules.
www.nytimes.com www.nytimes.com

“A loophole that has allowed American shoppers to buy lots of cheap goods from mainland China and Hong Kong without paying tariffs and filling customs forms is closing on Friday.

Prices have already gone up.

Orders for many imported goods from retailers like Shein and Temu could dwindle as consumers balk at the higher prices and new inconveniences. But, like much of President Trump’s trade war, the administration’s policy on the loophole has gone through changes. The president had ordered that the loophole be closed in February, but then reinstated it within a few days. Logistics experts said the short closure caused a pileup of packages at the borders. …

The import charges can differ depending on how the goods are shipped. If they come on an express carrier like DHL or FedEx, the goods will be subject to tariffs as high as 145 percent, or $14.50 on a $10 T-shirt.

Shipments coming in through the Postal Service will face a tariff equivalent to 120 percent of the value of the goods, starting Friday, or a fee of $100 per package. The fee increases to $200 in June. …”
 
www.investors.com

Port Of Los Angeles Warns 'Difficult Decisions' Ahead As Shipments From China Cease

President Donald Trump's trade war is expected to bring about a 35% decline in cargo arriving at the Port of Los Angeles by next week.
www.investors.com www.investors.com

President Donald Trump's trade war policies are expected to bring about a 35% decline in cargo arriving at the Port of Los Angeles by next week as "essentially all shipments out of China for major retailers and manufacturers have ceased," according to Port of Los Angeles Executive Director Gene Seroka.

Seroka's warning came during the port's board of harbor commissioners meeting on April 24, with the executive director saying that retailers and manufacturers typically put in orders to factories in Asia around three to four months in advance of shipments and that Trump's 90-day pause on the broad "reciprocal" tariffs resulted in no "real difference" for businesses.
 
bassydude77 said:
Just posted this on the markets thread, but probably fits better here.

It certainly "feels" like we are already in a recession. We've had the slowest start to the year in the 11yrs we've been in business. May tends to be when things pick up, so we'll see what happens. I'm trying to not be too pessimistic as I know my feelings toward the current administration are largely driving my feelings around the economy. I assume there are plenty of MAGA still dancing around thinking it is the best economy in history and somehow "feel" that their groceries are now costing less....
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I’m a self employed blue collar contractor. Things are usually rolling right now. They are not. And I don’t think it’s going to get better. I think by the end of the year a lot of people will be ruined financially, and sadly maybe dead. Trump is a cancer on America, corruption, greed, lawlessness run amok.
 
nycfan said:


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A close Trump adviser and lackey sounding incoherent, spouting gibberish, and not having any idea of what he was talking about? Say it isn't so! We saw in Trump 1.0 that almost no first-rate (or even second-rate) talent is willing to work for him, so in Trump 2.0 he's completely surrounded himself with his kind of people - brown-nosers, sycophants, incompetent weirdos, and the kinds of people who work on the margins and fringes of their professions, because they're not actually good enough to move up. And of course they all hate the accomplished people in their professions - those dreaded "elites" and "experts" who never accepted them or their ideas. So now it's get even time.
 
nycfan said:
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China’s Export Orders Plunge, Hit by Trump’s Trade War​

Steep U.S. tariffs are starting to squeeze Chinese economy​


🎁 🔗 —> https://www.wsj.com/world/china/chi...08?st=mm3WwT&reflink=mobilewebshare_permalink

“… A gauge of new export orders fell in April to its lowest reading since Covid-19 was ravaging the country in 2022, while overall manufacturing activity in China was the weakest in more than a year, according to surveys published Wednesday by China’s National Bureau of Statistics.

The sharp pullback shows President Trump’s eye-watering tariffs on Chinese imports are starting to squeeze the engine room of China’s economy, piling pressure on Beijing to boost its stimulus efforts to shore up growth.

… China’s official purchasing managers’ index for the manufacturing sector, a closely-watched gauge of activity at China’s factories, came in at 49 in April, down sharply from the 50.5 reading recorded in March. A reading of 50 or above indicates factory activity is expanding, while below 50 points to a contraction. April’s reading was the weakest since December 2023.

A similar measure of new export orders plunged even more steeply, sinking to 44.7 in April, the lowest reading since December 2022, an early sign that trade between the U.S. and China is in danger of drying up as American importers cancel or delay orders after a rush to bring in goods earlier this year before tariffs came into effect. …”
 
First quarter GDP was -.3%. I you the use the two quarters of negative GDP as the definition for a recession, that is the nail in the coffin as Q2 will be much worse than Q1.
 


“… Consumption slowed to 1.8%. That's decent, but down from 4% at the end of 2024.

… If you set aside the import craziness, the economy slowed in Trumps early days but didn't collapse. That said, the risk of recession is real now with Trump's hefty tariffs.”
 
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