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Best Buy and Target CEOs say prices are about to go up because of tariffs

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Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#71

Post by strken »

toomuchtodo wrote: post #60
davidw wrote: post #52

Earlier quoted context omitted.

How would you actually go about doing that? Like if the US economy implodes because enough of this malarkey breaks it, what/where is safe? In terms of your personal wealth/residence, I mean. The only thing I can kind of think of is maybe some land or housing in Europe or New Zealand or somewhere kind of out of the way; perhaps something that you can rent out. Might not make you a ton of money, but it would hopefully…

We own a modest flat in Spain. I’ve moved a year’s worth of living expenses to EUR. I can have my family out of the country in 72 hours. Total cost was under $300k USD. The best time to have a plan is before you need it. If you wait until you need it, you’re too late. (n=1, ymmv)

How much does this cost you on an ongoing basis, if you don't mind me asking?

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#73

Post by dmalik »

codazoda wrote: post #35
Sabinus wrote: post #3

Any bets on how this will be justified by Trump voters? I'm thinking at first it'll be 'playing hardball negotiating tactic' and when it looks like the tariffs are here to stay 'paying more is patriotic'.

I haven’t paid attention to the politics here much, but isn’t driving up the price the point? If you charge Canada a 25% tariff then products sold in the U.S. and shipped from Canada should cost U.S. consumers about 25% more. That, in turn, makes U.S. products look more attractive. A U.S. business pays taxes at the federal and state levels. A U.S. business also hires U.S. employees, who pay taxes as well and spend in…

> I’m sure I’m way over simplifying this, to the point of stupidity, but tariffs raise prices on foreign goods to encourage the sale and/or development of local goods, don’t they?

What about all the businesses that export products or the ones that rely on imports. Businesses go bankrupt, prices go up for everyone and less people have jobs.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#75

Post by doctorpangloss »

throwaway48476 wrote: post #53
rogerrogerr wrote: post #49

Earlier quoted context omitted.

The general path of the country is fairly clear at this point - business that manufacture closer to consumers will have fewer issues with the government. Even Biden kept a bunch of Trump1 anti-China policies in place. If I was directing investment at a large business, onshoring manufacturing would be a no brainer in many businesses. Mexico might be the happy medium, but I’d really push for US manufacturing facilities…

Most of the post 2016 China exit investment was to other cheaper southeast Asia countries. My phone was made in Vietnam.

Your phone was made in the US. They’re all black rectangles. The reason you picked the phone you use is because of the software, written here. All the LTV is tied up in software and services. Almost all made by Americans. To me, the status quo is very good - there can be unlimited valuable software written but people only need one phone. A policy of pro manufacturing doesn’t necessarily make sense in each specific.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#76

Post by llamaimperative »

johnnyanmac wrote: post #26
Sabinus wrote: post #3

Any bets on how this will be justified by Trump voters? I'm thinking at first it'll be 'playing hardball negotiating tactic' and when it looks like the tariffs are here to stay 'paying more is patriotic'.

well, going to r/conservative, top answer in a tarriff thread: >To influence companies to produce their goods domestically instead of internationally. What is so hard to understand about this? So they are stuck in Just World Land. another top comment linked this: https://www.whitehouse.gov/fact-sheets/2025/02/fact-sheet-pr... So they more or less buy into "The extraordinary threat posed by illegal aliens and drugs, i…

Nothing says “I need to relocate my supply chain” like 24 hours of tariffs

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#77

Post by toomuchtodo »

a2tech wrote: post #70
toomuchtodo wrote: post #60

Earlier quoted context omitted.

We own a modest flat in Spain. I’ve moved a year’s worth of living expenses to EUR. I can have my family out of the country in 72 hours. Total cost was under $300k USD. The best time to have a plan is before you need it. If you wait until you need it, you’re too late. (n=1, ymmv)

Who did you use to make the international purchase? I have a friend that used the lady from house hunters international but she’s French focused and that’s not for us

I traveled to Spain and made the purchase in person. Drop a disposable email in your profile, I’ll reach out and provide whatever value I can.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#78

Post by insonable »

throwaway48476 wrote: post #33
throwaway657656 wrote: post #9

Earlier quoted context omitted.

"These are external taxes paid by the exporting countries. Beautiful tariffs will allow the US to eliminate the IRS and replace it with an ERS". Basically no point in even having a conversation about it. The same way you don't discuss evolution with someone who thinks the universe is 6000 years old.

Who pays the tariff depends on the relative elasticity of supply and demand.

sure, and a good baseline assumption for most consumer goods is that price elasticity of demand is pretty low in the short term, so consumers pay most of the tariff. then in the long run perhaps things change and more non-tariffed substitutes become available resulting in maybe a 50/50 split of "who pays" (after all, the substitutes didn't have comparative advantage before, so are probably a bit more costly to produce). in any case, total quantity sold will be less, consumers benefit less, and suppliers benefit less... but the government does get revenue.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#79

Post by tombert »

throwaway657656 wrote: post #9
Sabinus wrote: post #3

Any bets on how this will be justified by Trump voters? I'm thinking at first it'll be 'playing hardball negotiating tactic' and when it looks like the tariffs are here to stay 'paying more is patriotic'.

"These are external taxes paid by the exporting countries. Beautiful tariffs will allow the US to eliminate the IRS and replace it with an ERS". Basically no point in even having a conversation about it. The same way you don't discuss evolution with someone who thinks the universe is 6000 years old.

This is so frustrating, because of course manufacturing countries aren't going to operate at a loss, so whatever price increase that happens will be paid for by the consumer eventually.

And if they eliminated the IRS because the ERS covers all our expenses, that would effectively mean that we have shifted all of our income tax revenue away from relatively wealthy high-earners to the poor (who currently pay little to no income tax), since the poor have to buy items at the price they're listed.

Re: Best Buy and Target CEOs say prices are about to go up because of tariffs

#80

Post by neilv »

captainkrtek wrote: post #23

Sure miss the days where there wasn’t headline generating chaos from the White House resulting in market volatility. Make Government Boring Again.

Is the market actually disciplining?

Or are Wall Street actors gaming the volatility for further profit?

Or both?

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