35% Tariff is very high, for any country to pay on a regular business basis.
Yes, undercut the man before he even starts.
Our country is getting whip sawed by every two bit tin horn dictator and the CEO of every business that wants to take advantage of low regulation low wages in Mexico or China.
Everything we buy is Chinese. The quality is crap, probably not their fault, it’s crap because the companies want it to be crap, cause it will cost less.
Just about all our fish is from China.
The overseas company puts a factory here and avoids the tariff. What’s the big deal?
This is all the art of the deal, but I am wondering if the 35% tax may not be a tariff, but rather a higher income tax rate. Currently the IRS has a domestic production tax credit (form 8903) that is a credit for manufacturers that produce goods in the USA. It might be that Mr. Trump will reverse this and propose that corporate taxes will go to 15% for most corporate income, butthat part of income generated from imported goods will be taxed at the current 35% rate.
Showing once again why the chattering class and the LSM are so brain dead. Trump has NEVER proposed a 35% tariff on all imported goods . . . it is SOLELY on those companies that MOVE the plant, PRODUCE outside America and then look to IMPORT that MOVED PRODUCTION back here.
Morons.
The rest of this will be pretty simple. Focus on China and the $365 billion trade deficit (2015 as per the Fed Govt web sites) and a little bit with Mexico and leave pretty much the rest as is.
Make sure certain manufacturing capabilities that are STRATEGIC, like Steel, are taken care of. You can not rely on importing steel during a wartime event, no matter how much the WSJ theorists want you too.
The whole point of this election is that the American public has decided it will pay some more for certain products if it means a) their neighbor will have a job and b) the country will have access to strategic manufacturing capabilities when the need arises.
Look at our corporate tax rate, then add mandated minimum wage, mandated insurance, plus WC, and so much more gov. regulation . The real corporate rate is at least 70%. Very few mom and pop stores can make it these days
Been doing it domestically for years!
That's the general idea, whether it's a tariff or a border wall.. make it so high that it will discourage nearly everyone from challenging it.