Trump Suggests US Could Slap 10 Percent Tax On iPhones, Laptops From China (cnbc.com)

An anonymous reader quotes a report from CNBC: President Donald Trump suggested he could place a 10 percent tariff on iPhones and laptops imported from China, in an interview with the Wall Street Journal published Monday. He also said it's "highly unlikely" that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1, just four days before a summit with Chinese President Xi Jinping. "Maybe. Maybe. Depends on what the rate is," the president said to The Wall Street Journal about the possible iPhone and laptop tariffs. "I mean, I can make it 10 percent, and people could stand that very easily."

Comments

"people could handle that very easily"

[Plus1Entropy]

Sure, everyone could handle a 10% tax very easily. Oh unless you're super rich, then you need a tax cut.

Either that, or just secure a small million dollar loan from your daddy.

Our President is a stuck up, toffee nosed, elitist twat.

Re:"people could handle that very easily"

[mycroft16]

Trump is trying to play this like zero sum game in which he wins and everyone else loses. In economics that's a really stupid way to do things because if everyone else loses who is buying all the stuff you're winning at making? No one. Oops, you collapse as well. Sure China has some rather aggravating trade practices and corporate espionage seems like a regular old Tuesday over there... but you can't just go slapping tariffs on everyone and everything without some serious repercussions that he seems incapable of grasping. China needs the same things it needed before the trade war, and it's going to start looking elsewhere for them, and set up new trade agreements with other countries for those things. And when the trade war settles and the dust clear and the US is exporting stuff again to them... are they going to buy it, or stick with their new trade partners? Historically it has always taken YEARS to re-enter a market that a trade war has pushed us out of. Or anyone for that matter. And since China seems more than happy to just sit and wait for Trump to rot, this is not going to end well for him.

Re:$12 billion farm bailout

[caseih]

Really you don't find Russia's imminent invasion of Ukraine deeply worrisome?

There was a time when America and its people cared about others across the world, just because it was the right thing to do, and knowing that helping them free themselves and advance economically would ultimately directly benefit the safety and security of the US. In short, making friends makes us safer than making enemies. That old way has gone now, and even more sadly the attitude of many Americans towards their fellow humans in other countries is taking on a decidedly adversarial tone. Does not bode well for anyone.