What products do we buy from China that we really, really, need
The Chicago Tribune article titled, Tariffs are in the News, Herse What to know, reports the price effects to USA consumers of China products imported into USA.
Todays’ news about Trump adding an additional 10 percent tariff on the balance of 260 billion of China imports stated a clue to the which side will be hurt more.
China threatened to add tarriffs to all 160 billion of what they buy from USA in comparison to the 500 billion the USA buys from China.
The Purpose of This Post
Is to add another perspective and insight to understand what the USA will gain in the long run if USA consumers stop buying China Products. or trade is balanced..
Definitions Purpose of This Post. (Merriam-Webster)
2a: the interrelation in which a subject or its parts are mentally viewed places the issues in proper perspective also : POINT OF VIEW
b: the capacity to view things in their true relations or relative importance trying to maintain my perspective
1: the power or act of seeing into a situation : PENETRATION
2: the act or result of apprehending the inner nature of things or of seeing intuitively
for gaining wisdom and instruction; for understanding words of insight; (Proverb 1:2)
Excerpt (Gils Bible Commentary)
to perceives the words of understanding; which flow from a good understanding, and give a right understanding of things; so that a man may be able to distinguish between light and darkness, truth and error, right and wrong;
What’s My Point?††††
When you discern a breakdown of all the products imported from China and purchased by USA consumers, none of the items needed are vital products required by a human to sustain life.
However, what is needed by every family is a job with livable wages to support and buy products really, really, needed to sustain life. For example, food, clothing, housing, transportation.
Anything else, for example, electronic gadgets, such as low-cost cell phones, computers, entertainment video games, toys, novelty products, etc. do not sustain life.
Also, the articles states because of washing machine tariffs, consumers pay $86 dollars more if made in the USA.
Families do not purchase a new electronic gadget every year. A washing matching can last 5 to 10 years.
My point is if you consider the perspective and insight of the benefits that the USA will derive by balancing the trade deficit with China, namely, circulating 500 billion dollars in the USA instead of China.
Every dollar that remains in the USA and spent in the USA would boost the USA economy, provide livable wage jobs, and hopefully improve infrastructure and medical care.
In My Opinion
China is hoping Trump loses the next election. That is why they are not willing to balance trade now.
Most news sources present articles to cause fear of tariffs rather than provide perspective and insight of the benefits. China Is monitoring USA consumers reactions pro or con on the effects of tariffs.
If you also consider, that more USA workers making leviable wages means less need for government subsidies, such as food stamps, free medical care, rent subsidies etc., need to be provided from taxpayer funds. Also, a person working pays taxes.
Also, if you consider that a person who has a job that pays livable wages, he or she can afford to pay a few bucks more for a product made in the USA. Stocking shelves in stores and warehouses with imported products does not pay as well as manufacturing a product in the USA.
Read the articles in the source links below. Also, a previous post explanation of Warren Buffet on the effects on the USA as a result of imbalanced trade and his recommendations. Also, an article of the products produced and shipped to the USA by China.
Should news articles present both sides of the effects of using tariffs to obtain fair trade balances with China?
Are any of the articles produced in China and shipped to the USA really, really, needed to sustain life.
Are any of these same articles impossible to be made in the USA?
How necessary or often does a typically family buy or need these products every year?
Does this post provide another wise or foolish perspective and insight about balance trade benefits to the USA?
Regards and good will blogging.
Chicago Tribune Tariffs are in the news;
Stuff China Ships to the USA