I ordered a lock and some keys valued at about $400, and paid an extra $400 in duties because of this. It's insane.
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.
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.
There's a video on YouTube now of a manufacturer that tried to onshore his grill scrubber product. Couldn't find the components, no matter how he tried, and ended up subsisting with Indian parts, probably laundered from China, with a complementary markup of course.
The way Americans talk about these tariffs show you don't know what it takes to build a strong manufacturing economy. For decades, China has suppressed their workers' wages, diluting their wealth to transfer it to Western buyers as cheap good. They've invested in scale, building factories worth hundreds of billions, which often don't make profits for years on end.
In America, every CEO has to show a stock bump by the end of the quarter of get tossed.
If you take the logic of tariffs to their natural conclusion, why not farm your own corn, raise your own beef, pick your cotton, etc. Specialization is the reason why we can enjoy abundance because things get made where it's cheapest and then get shipped to you. The average American waiting tables at a restaurant makes more than the Chinese working the manufacturing jobs you're trying to get back, and I'm supposed to feel sorry for them?
In summary, America doesn't know what it's doing. Those of us who come from countries who put excessive tariffs on everything, know that it never leads to local production, but serves as just another government revenue channel. But what do I know?
If only this specialization was focused on making good products instead of making 3% more money.
Why would you want that?
And any time they spend growing their own food is time they don't spend on some other economic activity they're obviously better at.
And the time? We do this in our spare time outside of full time jobs. But you're right, it does cut into our Netflix, tv, YouTube, Facebook time.