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Topic: More on Tariff's
Posted By: Steve Bright
Subject: More on Tariff's
Date Posted: 15 May 2019 at 8:59am

US farmers who sell to China feel pain of Beijing's tariffs

http://www.ap.org/" rel="nofollow">Associated Press  DAVID PITT,Associated Press Mon, May 13 7:09 PM EDT 
  • https://www.yahoo.com/news/us-farmers-sell-china-feel-221904754.html#" rel="nofollow - https://www.tumblr.com/widgets/share/tool?shareSource=legacy&canonicalUrl=&posttype=link&url=https%3A%2F%2Fnews.yahoo.com%2Fus-farmers-sell-china-feel-221904754.html&title=US%20farmers%20who%20sell%20to%20China%20feel%20pain%20of%20Beijing%26%2339%3Bs%20tariffs" rel="nofollow - https://www.facebook.com/dialog/feed?app_id=90376669494&link=https%3A%2F%2Fwww.yahoo.com%2Fnews%2Fus-farmers-sell-china-feel-221904754.html%3F.tsrc%3Dfauxdal&name=US%20farmers%20who%20sell%20to%20China%20feel%20pain%20of%20Beijings%20tariffs&tsrc=fb" rel="nofollow - https://twitter.com/intent/tweet?text=US%20farmers%20who%20sell%20to%20China%20feel%20pain%20of%20Beijings%20tariffs&url=https%3A%2F%2Fwww.yahoo.com%2Fnews%2Fus-farmers-sell-china-feel-221904754.html%3F.tsrc%3Dfauxdal&tsrc=twtr" rel="nofollow - mailto:?subject=US%20farmers%20who%20sell%20to%20China%20feel%20pain%20of%20Beijings%20tariffs&body=https%3A%2F%2Fwww.yahoo.com%2Fnews%2Fus-farmers-sell-china-feel-221904754.html%3F.tsrc%3Dfauxdal&.tsrc=fauxdal" rel="nofollow -
    FILE - In this March 5, 2019, file photo, cargo containers are staged near cranes at the Port of Tacoma, in Tacoma, Wash. China has announced tariff hikes on $60 billion of U.S. goods in retaliation for President Donald Trump's escalation of a fight over technology and other trade disputes. The Finance Ministry said Monday, May 13, the penalty duties of 5% to 25% on hundreds of U.S. products including batteries, spinach and coffee take effect June 1. (AP Photo/Ted S. Warren, File)

    DES MOINES, Iowa (AP) — China's announcement Monday of higher tariffs on $60 billion of American exports — retaliation for President Donald Trump's latest penalties on Chinese goods — hit particularly hard in the farm belt. China's vast consumer market has been a vital source of revenue for American farmers.

    Since December, when U.S. and China negotiators called a truce to tariffs and began signaling that an agreement might be reached, soybean farmers had been holding out hope that sales to China would resume, said Todd Hultman, an Omaha-based grain market analyst with agriculture market data provider DTN. In the meantime, the farmers had been storing a record stockpile of nearly 1 billion bushels.

    The latest news of a new round of tariffs, with no agreement in sight, spooked the financial markets and some farmers who had been tentatively optimistic.

    "This is hitting the market at a very emotionally distressful time," Hultman said. "The rug of hope was pulled out from under us and especially with the announcement this morning that China is going to retaliate with higher tariffs of their own."

    In a statement Monday, the American Soybean Association reacted with frustration edged with anxiety.

    "The sentiment out in farm country is getting grimmer by the day," said John Heisdorffer, a soybean farmer in Keota, Iowa, who is chairman of the ASA. "Our patience is waning, our finances are suffering and the stress from months of living with the consequences of these tariffs is mounting."

    A slowdown in soybean sales, and the huge stockpiles that result, has a ripple effect. Farmers in many parts of the corn belt have suffered from a wet and cooler spring, which has prevented them from planting corn. Typically when it becomes too late to plant corn, farmers will instead plant soybeans, which can grow later into the fall before harvest is required. Yet now, planting soybeans with the overabundance already in bins and scant hope for sales to one of the biggest buyers in China, could raise the risk of a financial disaster.

    "This is the fifth year of low prices, basically, for crops," Hultman said. "I think time is just wearing us out."

    To Brent Gloy of Grant, Nebraska, many farmers like him appear to be facing only bleak alternatives for planting.

    "There's just not a lot people can do," Gloy said. "You're looking at late corn planting through part of the corn belt. They would normally go to soybeans. Man it's just a mess."

    On Monday, Trump told reporters that a new program to relieve U.S. farmers' pain is being devised and predicted that they will be "very happy." The administration last year handed farmers aid worth $11 billion to offset losses from trade conflicts.

    Trump seemed to suggest that the aid will make up for, or partially cover, the $15 billion that he said represented "the biggest purchase that China has ever made with our farmers." In fact, U.S. farm exports to China approached $26 billion in both 2012 and 2013 and equaled $19.5 billion in 2017 — before his trade war began taking a toll on agricultural sales to China.

    Gloy, an agriculture economist and a partner in the online research website Agriculture Economic Insights, said he fears there may be no end in sight to the Trump administration's trade dispute with China. And he noted that most crops that farmers could plant aren't profitable right now.

    He also said that some fellow farmers he speaks with are beginning to sound notes of discontent with the Trump administration.

    "Farmers I talk to, I've been surprised they're supportive as they are, but I think it's starting to wane," he said. "I've personally been very frustrated with it. I think it's just a lack of a coherent plan."

    He said worries that the entire agriculture sector could face severe trouble if the dispute lasts indefinitely.

    "It's going to get louder and louder because there's going to be severe financial distress in agriculture," he said. "We've been getting teaser deals for six months, and everybody kind of thought it's going to happen and now I just think the reality of the situation is that's not in the cards."




Replies:
Posted By: steve(ill)
Date Posted: 15 May 2019 at 10:21am
POOR IGNORANT PISSER.......... We are in a WAR... We will WIN...You are always going to find a few people that don't agree......... ask them "What is the alternative".... and they have NONE....
 
Your Haters and Baiters at CNN and MSNBC keep pushing their TDS and you fall for it hook line and sinker.


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Trump Is Not A Lib or Conserv, He's a "Pragmatist." (someone who is practical and focused on reaching a goal. Has a straightforward, matter-of-fact approach and doesn't let emotion distract him or her


Posted By: Trinity45
Date Posted: 15 May 2019 at 1:29pm
Well lets see, lets take the money from the tariffs and supplement the farmers until we can find new markets for them.  If China is buying more from South America guess what that means somebody who used to buy from S.A. is out in the cold and will be looking for a new market.  Hell in 2015 China tried to collapse our entire Aluminum smelter industry by basically paying it's smelters to make aluminum that had no market for, collapsing the entire  market to almost nothing.  Their aim was to shutter U.S. smelters and it almost worked, the U.S. went from 11 smelters to only 3 fully producing smelters, until Trump stepped in after the 2016 election and shut down the Chinese imports, now at least 3 of those shutter smelters is starting back up and one that went from 5 lines to 2 is starting those 3 idled lines back up.  Do you really want open trade with a country that is trying its best to close our basic industries like aluminum and steel etc, plus the hack our industry and defense contractor secrets.  


Posted By: JC(WI)
Date Posted: 15 May 2019 at 2:24pm
Trinity, sadly some just can't make that connection...
not even when you spell the facts out to them one syllable at a time.


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He who says there is no evil has already deceived himself


Posted By: LouSWPA
Date Posted: 15 May 2019 at 2:34pm
very well said Trinity, China is very close to completely controlling the markets, and when they do we wont be having this discussion, we will be doing what we are told and taking what they give us....and nothing more. I do feel bad for the farmers, but, unfortunately, it will only get worse if China is not brought under control

-------------
I am still confident of this;
I will see the goodness of the Lord in the land of the living.
Wait for the Lord;
be strong and take heart and wait for the Lord. Ps 27


Posted By: Steve Bright
Date Posted: 15 May 2019 at 2:56pm
Yes, those $10 plus soybeans are way worst than $8.00


Posted By: jaybmiller
Date Posted: 15 May 2019 at 3:18pm
well China has said NO to Candian Canola 3-4 weeks ago cause we've held  one of their's for YOU.....
Maybe American farmers can grow something locals will buy ?? Like WHY do you IMPORT tomatoes ???


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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)

Never burn your bridges, unless you can walk on water


Posted By: DiyDave
Date Posted: 15 May 2019 at 5:44pm
Here's a question, fer dimmy:  This was the federal grubbermint's main source of financing, before there was such a thing as an income tax?

Wink


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Source: Babylon Bee


Posted By: steve(ill)
Date Posted: 15 May 2019 at 6:52pm

Where does the tariff money go?
Eileen St. Pierre, The Everyday Financial Planner

With all this talk about tariffs, where exactly does the money go? Here’s the answer in very simple terms.

A tariff is a tax on imported goods.

Like all taxes, it is a source of revenue for the government. The importer pays the tariff to treasury agents when the goods enter our country.

  • Suppose an importer has a $100 million shipment of aluminum, which is now subject to a 10% tariff.
  • The importer has to pay $10 million to treasury agents in order to get the aluminum into our country..... ( or CHINA can pay this to keep sales up)..
  • The $10 million is deposited into the U.S. Treasury.
  • The importer would need to charge its U.S. customers $110 million for the aluminum in order to recover this money.

What does the U.S. Treasury do with the tariff money?

Good question. From what I can ascertain, it just goes into a general fund to offset the deficit. There is no specific purpose for the revenue.



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Trump Is Not A Lib or Conserv, He's a "Pragmatist." (someone who is practical and focused on reaching a goal. Has a straightforward, matter-of-fact approach and doesn't let emotion distract him or her


Posted By: Trawler II
Date Posted: 15 May 2019 at 7:02pm
In other words Donny created a huge tax increase.

He is also preparing another bailout ( socialism) for the agriculture industry.


Go Trump go??


Posted By: LouSWPA
Date Posted: 15 May 2019 at 7:23pm
Originally posted by DiyDave DiyDave wrote:

Here's a question, fer dimmy:  This was the federal grubbermint's main source of financing, before there was such a thing as an income tax?

Wink


ooh, ooh, ooh, pick me, pick me, I know, I know

-------------
I am still confident of this;
I will see the goodness of the Lord in the land of the living.
Wait for the Lord;
be strong and take heart and wait for the Lord. Ps 27


Posted By: steve(ill)
Date Posted: 15 May 2019 at 7:30pm
In other words Donny created a huge tax increase.
He is also preparing another bailout ( socialism) for the agriculture industry.
 
POOR IGNORANT PISSER....... still stuck on the old TURDIE talking points... Call CNN and MSNBC and see if they got anything NEW for you to babble about ... the old SHTICK is getting worn out.


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Trump Is Not A Lib or Conserv, He's a "Pragmatist." (someone who is practical and focused on reaching a goal. Has a straightforward, matter-of-fact approach and doesn't let emotion distract him or her


Posted By: Trawler II
Date Posted: 15 May 2019 at 7:58pm
Originally posted by steve(ill) steve(ill) wrote:


In other words Donny created a huge tax increase.
He is also preparing another bailout ( socialism) for the agriculture industry.
 
POOR IGNORANT PISSER....... still stuck on the old TURDIE talking points... Call CNN and MSNBC and see if they got anything NEW for you to babble about ... the old SHTICK is getting worn out.



Now now Steve, don’t Get your Depends in a wad.

Your post states that a tariff is paid like any tax. Therefore it is a tax increase.

China is clearly not paying it.

You guys harped on this very site how Obama the socialist bailed out the auto industry.

I’m simply agreeing with you.


Posted By: steve(ill)
Date Posted: 15 May 2019 at 8:55pm
China IS PAYING.......... they are cutting the price they sell products to us the keep the volumn up... If the price INCREASES for CONSUMERS, many will not buy the Chink stuff...That is what is happening......... Give me a list of chineese items you have bought in the last year that the price has gone up 25% ........... YEP... NOT HAPPENING.... The Chineese are cutting the price and taking it up the BUNG right now... And TRUMP is right, the TARIFF goes to the US GOVT... so WE ARE WINNING !!
 
The BIGGEST problem is THEFT of research and development goods.... NOT BEANS.


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Trump Is Not A Lib or Conserv, He's a "Pragmatist." (someone who is practical and focused on reaching a goal. Has a straightforward, matter-of-fact approach and doesn't let emotion distract him or her


Posted By: JC(WI)
Date Posted: 15 May 2019 at 11:35pm
Originally posted by DiyDave DiyDave wrote:

Here's a question, fer dimmy:  This was the federal grubbermint's main source of financing, before there was such a thing as an income tax?

Wink
DD, he is still waiting for them to ask him a question...


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He who says there is no evil has already deceived himself


Posted By: Trinity45
Date Posted: 16 May 2019 at 7:13am
Actually a tariff is a discretionary tax so to speak, you don't have to buy chinese goods that have the tariff added to them, you can buy another companies product from say the U.S. or a country that does not have the tariff associated with it.  If China is not checked in 20 years they will own the U.S. and can wreck our economy by simply raising the prices because we will not have any manufacturing base left.  I don't know about some of you but I haven't felt a damn thing in my wallet from the Chinese tariffs.


Posted By: Lonn
Date Posted: 16 May 2019 at 9:15am
Dimbulb is perfectly happy with our good jobs disappeared to China, aren't ya Dimmy


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Yes, yes I am zee Russian bot and I work for Kremlin. ;)


Posted By: steve(ill)
Date Posted: 16 May 2019 at 12:59pm
Go to Wal Mart or Harbor Freight or Amazon, or ANYONE that sells Chineese  products... Their PRICES have not changed in a year.... CHINA is cutting the price and paying the Tariff TRYING to keep their volume up........... cant do that FOREVER !!

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Trump Is Not A Lib or Conserv, He's a "Pragmatist." (someone who is practical and focused on reaching a goal. Has a straightforward, matter-of-fact approach and doesn't let emotion distract him or her



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