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639 points CTOSian | 1 comments | | HN request time: 0s | source
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rkagerer ◴[] No.45031905[source]
...importers must declare the exact amount of steel, copper, and aluminum in products, with a 100% tariff applied to these materials

I ordered a lock and some keys valued at about $400, and paid an extra $400 in duties because of this. It's insane.

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kacesensitive ◴[] No.45031922[source]
Wait consumers are paying the tariffs??
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brandall10 ◴[] No.45032041[source]
It’s fundamentally how tariffs work. The importer pays the cost. If it’s a finished good to a consumer, they pay the full amount. If it’s a finished good to a retailer, it’s the wholesale cost. If it’s on components used domestically, it’s the wholesale cost of those components.

In the latter two cases, it’s up to the domestic supply chain to decide how and and how much of those costs get passed on to consumers.

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throwawaylaptop ◴[] No.45032289{3}[source]
If a US made Bolt is $1, and a Chinese one is $0.50, I buy Chinese. If now the Chinese bolt is $1, I buy American. If China tries to reduce the price of their bolt to $0.40, making it $0.80 for me, I still buy American because of quality and speed and reputation and returns, and more. So China makes the Bolt $0.25, I pay $0.50, and all is back to normal.

Yes I technically paid the tariff.... Except really China lost money, the US gained money, and I paid the same because that's the price difference required for me to buy Chinese.

Will it always work out like this? Idk. But this is what they are referring to when saying the exporter will pay it in the end.

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1. nosioptar ◴[] No.45032661{4}[source]
> Will it always work out like this?

Nope. Bolt price goes up. I can't afford it, and don't buy anyone's bolt. Both the American dude I'd buy it from and the Chinese dude that makes it lose money.