The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

New Chinese Tariffs -- It finally happened.

Anything related to sourcing or importing products.

Evil_Jester

Silver Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
192%
May 25, 2015
263
504
31
Dallas, TX
Is this really the first thread about it? For all you "buy from china and resell" guys, I would think this would be big news! How do you think this will impact your businesses?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

TKDTyler

The Tea Guy
FASTLANE INSIDER
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
347%
Aug 25, 2014
451
1,567
33
Is this really the first thread about it? For all you "buy from china and resell" guys, I would think this would be big news! How do you think this will impact your businesses?
I'm expecting most businesses to build the cost into their finalized price - the consumers are the ones who will be paying for the difference in the end.

Commoditized items coming from China already have razor thin profit margins, and I expect the "race to the bottom" to be even more competitive. Manufacturers are going to have a strong leg to stand on where importers are faced with a much higher bottom line.

Essentially, low margin products are getting the shaft on this one and in order to remain profitable, the consumer is inevitably going to be paying for the import tax.
 

Evil_Jester

Silver Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
192%
May 25, 2015
263
504
31
Dallas, TX
I'm expecting most businesses to build the cost into their finalized price - the consumers are the ones who will be paying for the difference in the end.

Commoditized items coming from China already have razor thin profit margins, and I expect the "race to the bottom" to be even more competitive. Manufacturers are going to have a strong leg to stand on where importers are faced with a much higher bottom line.

Essentially, low margin products are getting the shaft on this one and in order to remain profitable, the consumer is inevitably going to be paying for the import tax.
yeah makes sense. Everybody is going to have to pay the same tax.
 

Supercar

Silver Contributor
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
188%
Mar 14, 2012
273
512
Michigan, Arizona
Yep. Nobody in small and medium retail or wholesale is going to move the manufacturing operations to the US. China's labor is still cheaper. The retail prices will go up and the consumers will start subsidizing all the uncompetitive steel workers somewhere in Pittsburgh (who just voted Democratic) to enable them to continue to do what they do. Trumponomics .

I should be receiving about 350 lbs of steel parts in the mail in a couple of months. I think FedEx takes the tax out of my account somehow magically, even thought I am not the shipper but the receiver. I will see how much that bill is and raise the prices accordingly. Everybody will.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
444%
Jul 23, 2007
37,942
168,521
Utah

IGP

Gold Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
276%
Aug 24, 2015
504
1,390
51
Isn't the tariff mostly on tech products?

That's not going to affect the majority of "buy from china and resell" guys.
 

amp0193

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
447%
May 27, 2013
3,585
16,028
United States
Would love a link to a credible source on this, and what sorts of products it applies to.

I know if I google, I'll find nothing but sensationalized "news" articles.


Really, there's only a handful of HTS codes I care about... if they're unaffected, I'm good.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

TKDTyler

The Tea Guy
FASTLANE INSIDER
Read Fastlane!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
347%
Aug 25, 2014
451
1,567
33
Would love a link to a credible source on this, and what sorts of products it applies to.

I know if I google, I'll find nothing but sensationalized "news" articles.


Really, there's only a handful of HTS codes I care about... if they're unaffected, I'm good.
Just read the signed bill - there is no finalized list yet, but it should be available soon

“(b) To advance the purposes of subsection (a) of this section, the Trade Representative shall publish a proposed list of products and any intended tariff increases within 15 days of the date of this memorandum. After a period of notice and comment in accordance with section 304(b) of the Act (19 U.S.C. 2414(b)), and after consultation with appropriate agencies and committees, the Trade Representative shall, as appropriate and consistent with law, publish a final list of products and tariff increases, if any, and implement any such tariffs.”

Source: Presidential Memorandum on the Actions by the United States Related to the Section 301 Investigation
 

hellolin

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
117%
May 27, 2015
358
420
37
Have you check out what is actually in the tariffs? It seems like they are protecting the advanced industries that China is trying to upgrade itself on, so unless some of you are in those advanced industries, probably won't have that much of an effect. I am talking about high level engineering stuff, not your everyday import/export things, I assume no one here are doing business develop and then manufacture computer chips and electronics from scratch?
 

hellolin

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
117%
May 27, 2015
358
420
37
Isn't the tariff mostly on tech products?

That's not going to affect the majority of "buy from china and resell" guys.

Yup, high level tech stuff too, those are the industries that Chinese companies are trying to "upgrade" themselves into the industries of the future. Guess Trump is trying to make their effort harder now.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top