Trump to tax 35% any business that leave US and tries to sell product/goods back to USA

[Eric-Pris 1,607]

And the next thing you know, you'll be paying $1,000 for an iphone

There are hundreds of cheaper phones, but if you are stuck on the Iphone, then you will have to pay whatever it costs.

[Teddy B 17,252]

Definitely a possibility, however the issue with that is, again, that people just won't be able to afford the higher prices. Which in turn will mean profit margins will either decline significantly, or some companies will be better off just closing. Either way you slice and dice it - whether companies move and just add the taxes to the price, or they stay and have to pay more for labor, the end result is the same; They have to either sell it for a higher price or hurt their bottom line. We might also see wages actually decline across the board if companies are really desperate to stay afloat, and I'm sure some will lose their job. Of course in order to produce the same amount of products with less workers productivity will have to rise so say hi to your new workforce.

The part in bold is the only real way an American company can compete on a global market while keeping the jobs here. You're right, either way both the US worker and consumer loses.

[Dakine10 5,452]

There are hundreds of cheaper phones, but if you are stuck on the Iphone, then you will have to pay whatever it costs.

The list of cell phones not made in China is pretty short. HTC and Nokia are both moving there. That leaves about half of Samsung's and a few Blackberries.

[Transborderwife 4,666]

The list of cell phones not made in China is pretty short. HTC and Nokia are both moving there. That leaves about half of Samsung's and a few Blackberries.

are any BB still Canadian made?

The list of cell phones not made in China is pretty short. HTC and Nokia are both moving there. That leaves about half of Samsung's and a few Blackberries.

are any BB still Canadian made?

[Dakine10 5,452]

This new tax will prevent a lot of American companies from competing on the global market which in turn will cause loss of jobs, layoffs and company closings, on how large of a scale remains to be seen.

Many economists are saying this. In fact they all are. The economic consensus is really what you just posted. This really would not end well for Americans, the only question is how bad will it be.

[Dakine10 5,452]

are any BB still Canadian made?

are any BB still Canadian made?

I think they still make some of the parts there. I'm not really sure nowadays. When I'm looking for a phone, blackberry just doesn't jump into my mind anymore, so it's been a while since I looked closely at them.

[Transborderwife 4,666]

I think they still make some of the parts there. I'm not really sure nowadays. When I'm looking for a phone, blackberry just doesn't jump into my mind anymore, so it's been a while since I looked closely at them.

agreed. it's been close to 10 years since I've had one. i was just curious

[yuna628 9,758]

The list of cell phones not made in China is pretty short. HTC and Nokia are both moving there. That leaves about half of Samsung's and a few Blackberries.

https://www.cnet.com/news/are-any-smartphones-not-made-in-china/

I can't think of many if any at all.

[The Nature Boy 7,659]

The part in bold is the only real way an American company can compete on a global market while keeping the jobs here. You're right, either way both the US worker and consumer loses.

Toyota has done a great job of bringing auto manufacturing jobs to America and competing on price point here . 70% of vehicles sold here are produced here and they have created well over 300K jobs since they started production here.

They are not burdened with all the productive draining and cost inflating union BS, but pay great wages with good benefits.

To say it can't be done is simply not true

[Teddy B 17,252]

Toyota has done a great job of bringing auto manufacturing jobs to America and competing on price point here . 70% of vehicles sold here are produced here and they have created well over 300K jobs since they started production here.

They are not burdened with all the productive draining and cost inflating union BS, but pay great wages with good benefits.

To say it can't be done is simply not true

We're talking about American companies competing in a global market. Don't see what Toyota competing in the US has to do with that.

[The Nature Boy 7,659]

We're talking about American companies competing in a global market. Don't see what Toyota competing in the US has to do with that.

I think the subject as I understood it was companies need to off shore to remain competitive. Toyota example proves this is not true.

[smilesammich 10,727]

toyota doesn't offshore?

[CarlosAndSveta 808]

Political and economic reality strikes!

GOP Leader Breaks With Donald Trump On Suggested 35 Percent Tariff

WASHINGTON ― If President-elect Donald Trump thinks he’s going to impose a 35 percent tariff on companies importing goods, he might want to check with Republicans in Congress.

House Majority Leader Kevin McCarthy (R-Calif.) suggested Monday that Republicans would not be in favor of imposing the 35 percent tariff on foreign goods that Trump proposed Sunday in a series of tweets....

Trump may not understand how tariffs really work ― it would be very difficult for the United States to impose them on specific companies that move jobs to a foreign country ― or that Congress, not the president, sets them.

And if Trump did want to push the issue, it seems he’d be met with Republican opposition.

“I don’t want to get into some sort of trade war,” McCarthy said, downplaying the policy differences between Trump and congressional Republicans.

The majority leader said Republicans were intent on overhauling the corporate tax code so that businesses would stay in the United States. “That’s the best way to solve this problem,” McCarthy said.

But he also made it clear that he doesn’t believe high tariffs are the best way to keep or create jobs in the United States.

“I think history has taught us that trade wars are not healthy,” he said.

McCarthy stressed that Trump had run on reforming the corporate tax code, and that Republicans were in support of that idea. Pressed whether Republicans would give a tariff bill a vote if Trump pushed for it, McCarthy danced around answering directly ― “that’s a hypothetical question” ― but indicated again that overhauling the tax code was Republicans’ preferred path.

“The answer would be that we’re going to have tax reform,” he said.

He added that tax reform was a better way of keeping jobs “than digging into a trade war.”

[The Nature Boy 7,659]

toyota doesn't offshore?

Toyota is not a US company but they on shored here and produce 70% of all vehicles sold here in the USA. More than any other domestic automaker. Do you find it odd that a foreign company can have great success manufacturing here but a domestic can't .

Toyota has a greater percentage of cars sold here that are made here than any brand sold in America.

[Teddy B 17,252]

I think the subject as I understood it was companies need to off shore to remain competitive. Toyota example proves this is not true.

US companies need to off shore in order to compete in global markets, yes. US labor is more expensive than most any other labor in the world. Toyota using US labor to compete with other auto companies in the US that also use US labor is not the same as a US company using US labor competing with an Asian company making the same product for half the price using Asian labor.