Even this CEO was overly cautious with his comments. I guess he was afraid they wouldn’t invite him back if he told them the truth.
The US Consumer will NOT pay the cost of the tariffs on Chinese goods.
The Chinese Producers will pay 20.5% of the 25% tariffs that are imposed on March 1st on $250 billion dollars worth of imported goods.
From the article linked above:
US President Donald Trump is succeeding in making China pay most of the cost of his trade war.
That’s the conclusion of a new paper from EconPol Europe, a network of researchers in the European Union. US companies and consumers will only pay 4.5% more after the nation imposed 25% tariffs on $250 billion of Chinese goods, and the other 20.5% toll will fall on Chinese producers, according to authors Benedikt Zoller-Rydzek and Gabriel Felbermayr.
Also his prediction for our real GDP rate for 2019 is way off by predicting 2% – 2.5%.
I wrote this in the previous article:
From the thread linked above:
All this BS talk about a recession is exactly that.
I actually believe that next year’s Annual real GDP rate (2019) is going to be better than this year which will be close to 3.3%.
Keep in mind that China ?? stopped buying our soybeans and pork for the better part of 2018. The exact opposite is going to happen in 2019.