President Trump, China, United States discussed on All Things Considered
Online at melvilletrust dot org and on Twitter at melvilletrust. This is all things considered from NPR news. I'm ari. Shapiro chang. Talks between the US and China have ended without any agreement on trade. President Trump said in a tweet this afternoon that negotiations were candid and constructive. He also said the talks will continue into the future. But he didn't say when meanwhile, the Trump administration has made good on its threat to raise tariffs on another two hundred billion dollars worth of Chinese imports. The US says it's taking this step because China renamed on commitments it had made an earlier negotiations to explain what impact all these tariffs will have we turn now to NPR's gyms Rowley. Hey, jim. Hi, also, just remind what kinds of products are affected by these tariffs. Well, this applies to about two hundred billion dollars in imported products from China. Now only about a quarter of those are consumer goods on. They do not include things like toys and footwear that were exempted by the Trump administration. They do include. Dude, things like bicycles pet food certain kinds of building supplies. These products can still come into the United States from China. Just like they always have. But they will face a a tariff or a tax of twenty five percent. Instead of the the ten percent they pay now. And this will have to be paid by the company that imports them at the port where they're brought in right importers now have to pay this big tariff. But how how exactly will they pay it? Well, anyone of three things can happen. I the importers can call their manufacturing China and try to persuade them to give them a price cut. The menu, right? The manufacturers in China. Forced don't wanna lose business. So AB, though agree to that. Maybe not the second thing is they can they can have that can happen is that the importers just agree to absorb the tariffs themselves, which means of course, they make less money on which they are obviously reluctant to do the only other option they have those to pass the increase onto their customers. In in other words, prices will go up. So my be one of these or it could be some combination of the three we don't really know. But I did speak to Jennifer Hillman who is a professor at Georgetown Law Center. And she says President Trump imposed an earlier round of broader tariffs last year. And she says economists have studied the impact of those tariffs almost all of it close to one hundred percent of it has been paid by US importers and then passed along in various degrees to US customers. So President Trump argues that these tariffs are good for the economy. They bring in money to the treasure US treasury, but home and says. You know, these are ultimately passed on to consumers. So what Trump says may be true. But make no mistake importers are going to try to pass them onto to you. And me. Yeah. And when can you and I expect prices to start rising? Well, they're two points here. First tariffs. They only apply the products that were shipped from China after last night if something was shipped before that, and it's still out there on a freighter heading toward an American port right now, it won't have to pay this higher tariff, and it typically takes two to three weeks of four cargo ships from China to get to the United States. So we have kind of a grace period little wiggle room. The other point is about half the Chinese imports. Are that are facing these intermediate goods that go into making other products? These these are shipped to the United States and used in the manufacture of other products. Something like auto parts or electrical components buttons for coats, the manufacturing process takes awhile. So it will take time for the items to show up in stores, and it will take time for customers to see price increases. All right. That's NPR's. Jim zarroli? Thanks, jim. You're welcome. Okay. Let's continue the conversation about Chinese tariffs with our regular Friday political chat. Our guest this week our JD on of the Washington Post in the Brookings Institution. EJ good to be with you and Bethany Mandel who writes for publications, including the Jewish daily forward and acculturated. Hi bethany. So the tariffs went from ten to twenty five percent on a bunch of Chinese goods just after midnight. So far, the trade war has not really been felt by most American consumers. Yes. Soybean farmers carmakers. But EJ, do you think that it could be felt more widely? If these hires tariffs stay in place. I think the short answer is. Yes, I mean, President Trump is not wrong to say that China engages in unfair trade practices, and he's not wrong to go after them. But he should not take steps as part of a pressure campaign that may well have higher costs to us than to China, and he should certainly not lie and say that these tariffs will be paid by China. No. As Jim zarroli piece just suggested the tariffs are regressive tax that at the end of the line usually end up being paid for by consumers, and they could have a negative effect on the economy and create inflation. I still hope he gets a good deal. But so far, it doesn't look like his great job of it Bethany. What do you think of this, tactically? The trade talks seemed to have been moving in a positive direction before President Trump raised the terrace from ten to twenty five percent, you think that was a smart move. No, I think that from what I'm hearing sort of among people who have been have been following the story is that this this end of negotiations kind of caught the administration by surprise. And that they didn't necessarily realize that they were they were pretty much out of time. And what is worrisome is not necessarily this round of tariffs, but subsequent rounds of tariffs that really will hit the American consumer quite hard and potentially President Trump's base voters, absolutely. There are studies that show that Republican areas getting hit harder by his policies democratic areas. So yes, voters another big standoff in Washington this week is between congress and the White House over special counsel, Robert Muller's report testimony documents. Let's listen to the voices of the top Senate Republican Mitch McConnell house speaker Nancy Pelosi and also House Judiciary committee chairman, Jerry, Nadler, all speaking this week case closed case closed some coding.