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How Mexico will pay for the wall - Trumps 20% Import Tax
This was his plan all along - he just didn't want to say it out loud:
http://abc7news.com/politics/trump-calling-for-20-percent-tax-on-imports-from-mexico-to-pay-for-wall/1722456/
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Posted 1/26/17 3:53 PM  |
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JennLala
LIF Adolescent
Member since 10/14 601 total posts
Name:
Jennifer
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How Mexico will pay for the wall - Trumps 20% Import Tax
And I'm sure that tax will be passed onto the consumer by raising the price of the goods, so the taxpayer is still paying for the damn wall! Does he think Mexico wouldn't retaliate by imposing a similar tax on goods exported from US to Mexico???
A tax like this requires congressional approval, time to contact your senators and representatives and tell them you do not want this tax imposed. Or just go stock up on Kahlua now.
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| Posted 1/26/17 3:58 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
http://www.salon.com/2017/01/20/trumps-trade-war-threats-against-mexico-could-impact-consumers/
Despite the trade deficit that the U.S. has with Mexico, American companies exported about $270 billion worth of goods and services to its southern neighbor, according to the latest trade figures, from 2015. These American exports included made-in-the-U.S heavy machinery, vehicles and petroleum products. Mexico is also the third-largest market for U.S. agricultural products including corn, soybeans, dairy, pork and beef — the kind of things produced in areas of the country that helped get Trump elected. Anything Trump wants to do on trade that hurts the Farm Belt will face considerable pushback from congressional Republicans.
If the president and his GOP allies cause a trade war with Mexico, the effects would be felt by consumers in both countries. Trump’s proposed 35 percent import tariff on Mexican imports would raise U.S. prices for American-made cars and electronics because of the higher cost of the parts produced in Mexico and shipped to manufacturing facilities in the U.S., according to Robert Blecker, professor of economics at the American University in Washington D.C. who specializes in North American economic integration.
Mexico could fairly easily retaliate with tariffs on goods resulting in regional impacts across the U.S. In 1996, for example, Mexico shocked American wine and spirits makers by imposing a temporary 20 percent retaliatory tariff on U.S. whiskey and wine products after the U.S. imposed tariffs on Mexican-made brooms. That dispute, which was later resolved, is minor compared to what could happen if Trump gets his way. In a trade war with Trump, Mexico would likely slap taxes almost immediately on many of the American products purchased by its growing upper-middle class, like minivans, wines and distillates, and luxury goods.
“They can threaten tariffs on corn from Iowa, and see if Sen. [Chuck] Grassley doesn’t change his mind on an issue,” Blecker told Salon, referring to the Republican legislator who endorsed Trump for president last year.
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Anyone who knows anything about politics and tariffs knows you can't just "add an import tax and problem solved!". Mexico has already said they will use every tool at their disposal to fight this, so the American Consumer will get hit really hard in the wallet if this happens. It definitely won't be net gain for the US. Sure, Trump gets to beat his chest that he "won", but the rest of us will get screwed.
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| Posted 1/26/17 4:01 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
http://www.cnbc.com/2017/01/23/these-states-would-get-hurt-most-in-a-trump-trade-war.html
Among the states whose economies rely most heavily on trade with Canada and Mexico, the top five — Michigan, Texas, North Dakota, Kentucky and Indiana — all went for Trump in the November election.
"If Trump renegotiates NAFTA, as he has said he would, activity in these states would likely come under pressure," said Daco.
Other states that would feel the impact of an export slowdown include Southern states like South Carolina and Alabama that have seen a resurgence in manufacturing investment in recent years.
Several automakers have already been the target of Trump's trade ire for plans to increase production in Mexico.
But withdrawing from NAFTA would cost the U.S. auto manufacturing an estimated 31,000 jobs, according to the Center for Automotive Research.
A trade war with Mexico will COST the US jobs.... 
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| Posted 1/26/17 4:01 PM |
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klingklang77
kraftwerk!
Member since 7/06 11487 total posts
Name:
Völlig losgelöst
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by JennLala
And I'm sure that tax will be passed onto the consumer by raising the price of the goods, so the taxpayer is still paying for the damn wall! Does he think Mexico wouldn't retaliate by imposing a similar tax on goods exported from US to Mexico???
A tax like this requires congressional approval, time to contact your senators and representatives and tell them you do not want this tax imposed. Or just go stock up on Kahlua now.
Exactly (minus the Kahlua-- I don't like that, lol).
This is not going to help out with car prices and other machinery Mexico produces.
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| Posted 1/26/17 4:02 PM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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How Mexico will pay for the wall - Trumps 20% Import Tax
I find it pretty ironic that he keeps touting buy American but wants to solve our problems with what we buy from Mexico.
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| Posted 1/26/17 4:12 PM |
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Will the tax include the items from his company which are still made in Mexico?
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| Posted 1/26/17 4:15 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by MrsProfessor
Will the tax include the items from his company which are still made in Mexico?
No, I think ties, steaks and vodka are exempt from tariffs....
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| Posted 1/26/17 4:19 PM |
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Bugaboo
Relax!
Member since 5/05 2133 total posts
Name:
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
"Vote Republican and we won't raise your taxes." Yet here we are on day 5 and Trump is raising taxes! To build an asinine f$cking wall!!
Food is also going to get a lot more expensive. The people who believed Trump was going to really help them are going to have a rude awakening. The people who are really suffering are going to be in a world of hurt when they literally won't be able to put food on the table. 
Message edited 1/26/2017 5:23:16 PM.
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| Posted 1/26/17 4:32 PM |
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JennLala
LIF Adolescent
Member since 10/14 601 total posts
Name:
Jennifer
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by MrsProfessor
Will the tax include the items from his company which are still made in Mexico?
I thought his ties were made in China, but I'm sure he will want to impose this tax on everyone we trade with eventually.
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| Posted 1/26/17 4:37 PM |
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klingklang77
kraftwerk!
Member since 7/06 11487 total posts
Name:
Völlig losgelöst
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by Bugaboo
"Vote Republican and we won't raise your taxes." Yet here we are on day 5 and Trump is raising taxes! To build an asinine f$cking wall!!
Food is also going to get a lot more expensive. The people who believed Trump was going to really help them is going to a have a rude awakening. The people who are really suffering is going to be in a world of hurt when they literally won't be able to put food on the table.
Yes, food, too. People are in for a rude awakening. It's been 6 days. 6 days. This is crazy.
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| Posted 1/26/17 5:18 PM |
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seaside
LIF Adult
Member since 6/08 3101 total posts
Name:
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
America First doesn't just mean that everyone else will roll over. Lots of things will be unaffordable to lots of people.
How did people not realize this?
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| Posted 1/26/17 5:41 PM |
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by JennLala
Posted by MrsProfessor
Will the tax include the items from his company which are still made in Mexico?
I thought his ties were made in China, but I'm sure he will want to impose this tax on everyone we trade with eventually.
He uses factories all over- Bangledesh, China, Turkey, to name a few.
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| Posted 1/26/17 6:03 PM |
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stinger
LIF Adult
Member since 11/11 4971 total posts
Name:
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Taxing Tequila and Corona? Vacations in cancun?
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| Posted 1/26/17 6:26 PM |
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kimchee
LIF Toddler
Member since 1/07 428 total posts
Name:
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
So much for his negotiating skills, he can't even get the Mexico President to come to the table, he gets a a big "F" today.
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| Posted 1/26/17 10:13 PM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: How Mexico will pay for the wall - Trumps 20% Import Tax
Posted by GoldenRod
http://www.cnbc.com/2017/01/23/these-states-would-get-hurt-most-in-a-trump-trade-war.html
Among the states whose economies rely most heavily on trade with Canada and Mexico, the top five — Michigan, Texas, North Dakota, Kentucky and Indiana — all went for Trump in the November election.
"If Trump renegotiates NAFTA, as he has said he would, activity in these states would likely come under pressure," said Daco.
Other states that would feel the impact of an export slowdown include Southern states like South Carolina and Alabama that have seen a resurgence in manufacturing investment in recent years.
Several automakers have already been the target of Trump's trade ire for plans to increase production in Mexico.
But withdrawing from NAFTA would cost the U.S. auto manufacturing an estimated 31,000 jobs, according to the Center for Automotive Research.
A trade war with Mexico will COST the US jobs....
I export US raised pork to Mexico.
An added tax would severely hurt my purchasing ability, and would affect all of the people involved in the raising and processing of the hogs. That includes the farmers who grow the grain to feed the hogs, the farmers raising the hogs, and the processors who take care of the rest.
Same thing if he gets rid of NAFTA.
I also export to Japan, Korea and Vietnam.
No small apples here, I export about 50 million of pounds per year.
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| Posted 1/27/17 9:42 AM |
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