iPhones Could Cost Up to $2,300 in the U.S. Due to Tariffs, Analyst Says

[AppliedMicro]

Again, nothing like a tariff. I'm not even sure why local sales taxes are even part of this conversation.

That you should maybe ask the Trump administration:


“when discussing trade with the EU specifically, White House deputy chief of staff, Stephen Miller, added a new policy grievance to the mix: value-added taxes (VAT).

“Did you know when you ship a car from the US to Europe, if they let it in at all because they have many nontariff barriers, between the VAT and duties, that car is taxed at 30%? The German car—or a European car sent the America is taxed at 2.5%—or basically 0.”

His statement assumes that a VAT discriminates against American car exports like a tariff, and conversely, that the VAT rebate provided to European car producers exporting to the US constitutes a subsidy”

The European VAT is Not a Discriminatory Tax Against US Exports

The Trump administration appears to be moving in a “reciprocal” policy direction despite the significant negative economic consequences for American consumers of across-the-board tariffs on goods coming into the US. However, the EU’s VAT system should not be used as a justification for...

taxfoundation.org

Not attributing that to malice rather than incompetence - which is remarkable though not surprising.

 

[brofkand]

The costs will still be high due to increased labor costs.

For sure, but not as high as these tariffs.

 

[MilaM]

It's a bit high, innit?

For someone living in the US, it must sound mad, haha.

In practice it's not that bad. Basic goods have a much lower tax rate of 5 to 7 percent. Rent and medical bills and all services provided by the government like education and child care are also exempted.

 

[interstella]

Im sorry guys this is horrible

I hope they don't pass the costs on eu users tho

I suspect that this is what will happen. We're all going to have to share the pain of Trump's poor grasp of economics and that might well mean iPhone purchasers in the rest of the world subsidising US consumers.

 

[interstella]

Tell us about Brexit.

More madness. Trump was enthusiastic about it though and no doubt his influence persuaded some people to vote for it.

 

[Morgenland]

Explain why China applies tariffs our vehicles at such a high rate, a rate that forces companies like Tesla to build factories and hire Chinese employees?
Or the fact that our truck drivers can’t cross the border to deliver goods, they have to drop them at the border so a Canadian trucker can do that, at the cost of the exporter. And then in turn, Canadian truckers are allowed to not only drop off imported goods to the US but can also do other runs while across the border. Sounds pretty fair to you I bet.
The fact you think people need a degree to understand economics is part of the problem. I suspect you won’t be able to answer the question but I get that, most people that watch cnn can’t either.

Sometimes, it's the little storys that end up clouding the bigger picture. Your examples are spot-on, but they haven't exactly shaken the USA's position as the world's economic powerhouse—thankfully, it's been seen strong, before Trump.

The global economy is like a finely tuned machine, and honestly, it’s been working pretty well for the USA. The old saying goes: 'If it ain't broke, don't fix it.' But now, someone’s decided to tinker with it. Enter egg prices and canadian storys to set the stage.

By the way, you can replace Tesla with TSMC and Chinese with American. But keep in mind that both sides do this! And no one should let this smoldering war flare up.

 

[jeremydc]

Bring DEI back!

 

[Naraxus]

Do Americans realise countries around the globe have had enough of them?

There is a real anti-American sentiment at the moment.

Do you realize we don't give a ****?

 

[andiwm2003]

This is great. I finally have a reason to buy a locally made smart phone.......

 

[Morgenland]

Tell us about Brexit.

I don't think he's a Brexit supporter, he doesn't sound stupid.

 

[Jumpthesnark]

Yep, folks gobble up mainstream anti-
Trump narrative and regurgitate. I assume most paid actors or bots posting, same as protesters

That assumption may make you feel better, but it's not reality.

 

[Naraxus]

Oh... and he's a white man.

His skin color and gender had nothing to do with why he demolished Kamala in November.

 

[magicschoolbus]

With all the losses in your grandmas portfolio, she can at least get a job at the factory!

 

[Jumpthesnark]

Yep got fired yesterday including most of the headquarter after 9 years with the company 😶‍🌫️ (in Germany) and they did it in such a Musk kind of way. I am still in shock.

I am so sorry to hear that. Hang in there, and good luck with whatever comes next.

 

[Poncho]

• #322 Thanks for the repetition, perhaps it will be better understood that way

I left out the part about enriched uranium, most people here don't believe that anyway. But it's absolutely true!

I'm always puzzled why it's not clear to everyone that Trump likes Putin (he just needs to put on a bit of a stern world ruler show) and would like to see Europe in ruins (for whatever reason).

Wow! I didn't see your post!

 

[vantelimus]

For someone living in the US, it must sound mad, haha.

In practice it's not that bad. Basic goods have a much lower tax rate of 5 to 7 percent. Rent and medical bills and all services provided by the government like education and child care are also exempted.

It is similar here. Though laws can vary from state to state, not all things are subject to sales tax. Typically only tangible goods are taxed. Basic goods, such as groceries and prescription medicine are exempted, as are rent and professional services.

The idea of a VAT doesn't sound mad. It is the fact that they are 3x the average in the US. From time to time, someone will float the idea of a national sales tax. That gets shot down quickly.

Typically people in the US are opposed to any kind of taxes. Then they complain when the government can't afford to fix potholes in the streets.

 

[ItsWelshy]

Do you realize we don't give a ****?

Yes, we can see the stupidity playing out.

 

[wbeasley]

Do you realize we don't give a ****?

think you will when prices go through the roof and affect you.

everyone, everywhere, is facing uncertainty and pain.

you might stop buying imported goods in protest, but the big companies that rely on imported parts or assembled in China goods are going to be hit hard. and that means their stock value is hit hard. and that flows onto investment companies being hit hard so any retirement funds you have could be worth less. interest rates could go either way due to uncertainty which affects housing...

everything is intertwined.

there is no simple way to avoid the outfall.

 

[ryanmp]

Yes, we can see the stupidity playing out.

Never underestimate the stupidity of an idiot. Unfortunately we just have to let this play out.

In the end, tariffs will not bring manufacturing to the US in a big way, US exports will become less competitive, imports more expensive, consumers will pay the price, economy will suffer.

 

[chrono1081]

Simply false and and idiotic statement

I'm not going to argue with you, it's absolutely no secret Trump and the rest of the Republican Party is in Putin's pocket. That's not opinion, that's not speculation, it's known fact. Anyone paying any ounce of attention to politics knows this.

I suggest you follow politics before commenting any further.

 

[Pezimak]

As a Brit and reading these comments, i can’t help but wonder how and why the American voters opted for this. Absolute madness.

You have seen who is in government in the UK right? Theirs your answer.

 

[Jumpthesnark]

They already are……..

Egg prices going down? A dozen eggs averaged $3 last week as costs decline

National egg prices fell 9 percent last week to an average of of $3 a dozen, continuing a recent downward trend after a national egg shortage.

www.usatoday.com

Anyone seen eggs at $3/dozen as the headline claims? Show of hands...

That story links to a USDA survey of wholesale prices, which shows more than $3/dozen (apparently USAT is rounding down for their story!). If grocers are dropping their prices to $3/doz., I'd love to see it.

 

[darngooddesign]

His skin color and gender had nothing to do with why he demolished Kamala in November.

He tricked the evangelicals into voting for an adulterer who has broken every biblical deadly sin, multiple times. And you're kidding yourself if you think Kamala would have been treated the same if she did the same things he did.

 

[Jumpthesnark]

Oh god, a Fox News watcher. Go away and pretend he isn't gonna come for you next

Funny thing is, it seems the scrolling onscreen stock ticker that all the major cable news channels were running today was conspicuously absent on Fox and Newsmax. So all the watchers got was "please be calm, don't look at facts" just like the "this is fine" cartoon dog in a burning house meme.

 

[ItsWelshy]

You have seen who is in government in the UK right? Theirs your answer.

Are you comparing Labour to Trump? after 14 years of destruction from the Tories?

Good lord.