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Bloomberg calculated the cost of Mad King Donald's trade war based on the cargo on the OOCL Violet, a shipping vessel carrying thousands of containers full of goods bound for the US and it ain't pretty.
When the ship reached California, it carried cargo with a total estimated value of at least $564 million, according to detailed bills of lading data from IHS Markit. About 40% of the goods were likely subject to the new 145% rate, according to Bloomberg News estimates. The data suggests importing companies face at least $417 million in new tariffs for all goods on the ship. That’s on top of preexisting import fees.The cargo on board the Violet? Consumer goods and industrial supplies including 5.7 million pounds of Chinese-sourced knitted apparel, car parts, plastic products, fish, sneakers, forklifts, latex medical gloves, car windshields, pasta, wheelchairs and bras.
Thank God these tariffs according to Mad King Donald are going to eliminate federal income taxes for Americans earning less than $200,00 a year: “We’re going to be cutting taxes and it’s possible we’ll do a complete tax cut.”
Me, I'm tired of all this winning.
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bloomberg.com - China ship cost in tariffs trade wareconomictimes.indiatimes.com - US news can trumps tariffs truly cut income taxes for americans earning less than check details.
