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  1. #1
    Senior Member JohnDoe2's Avatar
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    Americans may pay more for beer, snacks and cars to build border wall

    Americans may pay more for beer, snacks and cars to build border wall

    Charisse Jones , USA TODAY Published 6:52 p.m. ET Jan. 26, 2017 | Updated 14 minutes ago


    (Photo: Rebecca Blackwell, AP)


    American consumers may have to pay more for products ranging from Toyotas to vegetables to beer, if a proposal by President Donald Trump to impose a 20% tariff on Mexican imports goes into effect.

    Trump has floated the new tax as a possible way to finance a wall that would straddle the border separating the U.S. from what is currently its third largest partner in the trade of goods, according to the U.S. Trade Representative.

    William Gale, co-director of the Tax Policy Center. says that while a stronger dollar could minimize the pain U.S. shoppers feel, “the irony of putting a tariff on Mexican goods is that, to the extent it raises consumer prices in the U.S., consumers will be paying for the wall, not Mexican producers.’’


    Mexico sent $295 billion worth of goods across the U.S. border in 2015, the USTR says. Overall, U.S. imports from its southern neighbor peaked at $316.4 billion that year. That's in contrast to Mexican-bound exports from the U.S. that amounted to $267.2 billion.


    The biggest import is cars, with the U.S. spending $74 billion in 2015 for the hundreds of thousands of Chevrolet and Ram trucks, as well as Fords, Hondas, and Nissans that are assembled in Mexican factories.


    But cars are far from the only product that U.S. importers bring in from Mexico. Other key categories include machinery, medical instruments, and mineral fuels.The country is also the U.S.’ second-biggest provider of agricultural products, with imports amounting to $21 billion in 2015.

    “It is very troubling for world food and agricultural markets for Administration spokespersons to bandy about terms like a 20% tax on all imports from Mexico or other countries,’’ Tom Stenzel, President and CEO of the United Fresh Produce Association said in a statement. “Consider the impact on American consumers of a 20% hike in the cost of foods such as bananas, mangoes and other products that we simply cannot grow in the United States. Consider also what other countries would do to block U.S. exports in retaliation. As the Administration looks to incentivize manufacturing jobs in the U.S., we urge President Trump to consider the unique nature of food and not place a new food tax on American consumers.”


    Fresh vegetables purchased from Mexico totaled $4.8 billion in 2015, according to the USTR. Snack food imports totaled $1.7 billion, while wine and beer $2.7 billion and processed fruit and vegetables peaked at $1.4 billion two years ago.



    Representative Lloyd Doggett, (D-Tx) said in a statement that a tariff would not only "disrupt Texas commerce with our most important trading partner, but it would raise consumer prices by 20% on many goods, like so much of the fresh produce upon which we rely at this time of year.''

    Companies like Toyota and Honda have flocked across the border, not only lured by low wages, but to tap into a skilled labor force and Mexico’s multitude of trade deals with countries across the globe.


    The U.S. has made use of services from Mexico in transportation, travel, technology and other industries. Such imports amounted to roughly $21.6 billion in 2015, 11% more than the year before, and roughly 191% more than what was spent on imported services in 1993, before NAFTA.


    http://www.usatoday.com/story/money/...wall/97108358/
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  2. #2
    Super Moderator GeorgiaPeach's Avatar
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    I notice the word "may."
    Last edited by GeorgiaPeach; 01-26-2017 at 09:44 PM.
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    But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible.
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    Senior Member JohnDoe2's Avatar
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    Border Wall Tax on Mexican Crude Oil Would Cost U.S. Drivers

    by Joe Carroll
    and Laura Blewitt
    January 26, 2017, 3:27 PM PST


    • Tax could be used on any country with trade deficit: Spicer
    • Pump prices could increase 30 cents a gallon, Verleger says


    U.S. motorists probably would foot the bill for President Donald Trump’s 20 percent border-wall tax as domestic refiners reliant on Mexican crude pass on the cost.

    Less than a week after assuming office, the Trump administration indicated it may impose the levy on imports from Mexico to finance construction of a barrier along the southern U.S. border. American companies imported about $14 billion in oil and related products in 2015, government data show. White House press secretary Sean Spicer noted that the tax was only one idea being mulled to pay for the wall, a cornerstone of Trump’s campaign.

    The tax, which Spicer characterized in a briefing Thursday as "theoretical," would apply to countries with which the U.S. has a trade deficit. That would seemingly exempt Canada, with which the U.S. ran a surplus of $11.9 billion in 2015. However it may include Saudi Arabia, the second-largest foreign supplier of crude to the U.S., which sent $31 billion more to the U.S. than it took back in 2012.


    Most U.S. refineries reside inside Foreign Trade Zones, including the biggest U.S. importer of Mexican crude, a joint venture owned by Royal Dutch Shell Plc and Mexico’s state-controlled driller Petroleos Mexicanos.


    Trade Zones


    The zone is “almost like an embassy, and things will not be taxed until they exit the zone,” Janice Mosher with U.S. Customs and Border Protection said in a telephone interview. The wider range of countries that a tax would apply to would increase the hit to American drivers.

    The venture’s refinery in the Houston suburb of Deer Park imported almost 52 million barrels of Mexican oil during the first 10 months of 2016, according to government data. Valero Energy Corp., Lyondell Basell Industries NV and Exxon Mobil Corp. were the next three biggest U.S. importers of Mexican oil during that period.

    The combined supply imported by those companies was enough to fill more than 30 supertankers, based on Bloomberg calculations.


    "Assuming they are proposing to impose a 20 percent tax on imports on countries from which we run a trade deficit, then we can expect gasoline prices to rise 30 cents per gallon," said Phil Verleger, president of the economic-consulting company PKVerleger LLC by phone from Carbondale, Colorado.


    Fuel makers in the U.S. refining heartland of Texas and Louisiana would either pass the increased expense of using Mexican oil on to consumers by raising gasoline and diesel prices, or search for alternative crude sources, said Justin Jenkins, an analyst at Raymond James in Houston.

    Because many of those refineries are geared to process Mexico’s brand of heavy, noxious oil, the lighter crude harvested from U.S. shale fields wouldn’t work as a replacement.

    “If you’re going to try to find something similar, the U.S. doesn’t really produce anything like” Mexican crude, Jenkins said. “Either prices would have to change or refining margins” would shrink, he said.

    https://www.bloomberg.com/politics/a...ed-u-s-drivers
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  4. #4
    Senior Member JohnDoe2's Avatar
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    Quote Originally Posted by GeorgiaPeach View Post
    I notice the word "may."
    The tax hasn't actually been started yet, so you MAY pay more IF they start the tax.

    "American consumers may have to pay more for products ranging from Toyotas to vegetables to beer, if a proposal by President Donald Trump to impose a 20% tariff on Mexican imports goes into effect."
    Last edited by JohnDoe2; 01-26-2017 at 09:48 PM.
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    Senior Member JohnDoe2's Avatar
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    Trump team walks back plan to fund wall with import tax - POLITICO

    www.politico.com/story/.../trump-tax-mexican-imports-pay-for-border-wall-234239

    7 hours ago - White House press secretary Sean Spicer suggested a tax on imports could fund the border security measure before backing off the proposal. ... White House press secretary Sean Spicer on Thursday walked back his statement that President Donald Trump supports a plan to tax imports in ...
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  6. #6
    Senior Member Judy's Avatar
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    Don't buy snacks, beer and cars made in Mexico. Buy snacks, beer and cars made in the USA.

    As to the oil, Trump is developing US energy so we'll be energy independent. He's approved the Dakota Access Pipeline as well as the Keystone XL Pipeline which both carry American crude oil to US refineries.
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    Senior Member JohnDoe2's Avatar
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    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


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  8. #8
    Senior Member JohnDoe2's Avatar
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    Trump floats 20% tax on Mexican imports to pay for wall, but considering other options

    By Jeremy Diamond, CNN
    Updated 7:09 PM ET, Thu January 26, 2017

    (CNN)The White House on Thursday said President Donald Trump is considering a 20% tax on imports from Mexico to pay for a southern border wall, but that the President is still weighing other options.

    White House press secretary Sean Spicer told reporters on Air Force One Thursday that Trump was backing the proposal and had just discussed it with congressional Republicans in a private meeting.

    Hours later, amid an uproar from lawmakers on both sides of the aisle, Spicer said that he was simply putting forward one idea Trump is considering to show how the administration could fund the multibillion-dollar construction of a wall on the US's southern border. Spicer repeatedly said the White House was aiming to be "illustrative" rather than "prescriptive" as he walked back the more definitive comments he made earlier Thursday.


    "Part of our goal today was to demonstrate that there is an easy way -- or several ways -- tone is to generate the reviews because the cost of the wall in the big picture is really not that significant," he said. "Imports (are) one way. I just want to be clear that we're not being prescriptive in saying that is the only way nor is the rate prescriptive."


    White House chief of staff Reince Priebus also told reporters the White House is considering a "buffet of options" as it considers how to pay for the border wall.


    Peña Nieto Meeting canceled



    The discussion over an import tax to pay for the project comes after Mexican President Enrique Peña Nieto canceled a planned meeting with Trump after the US president signed an executive order Wednesday kicking off the process of building the border wall and vowed once again to force Mexico to pay for it -- something Mexico has adamantly rejected.

    Spicer also said Thursday evening that revenue from a tax on Mexican imports or other revenue streams that didn't involve a direct payment from the Mexican government would fulfill Trump's campaign pledge to compel Mexico to pay for the border wall.


    The White House press secretary rebuffed questions from reporters about the impact of a 20% tax on imports from Mexico on American consumers, insisting such criticism was "short-sighted."

    Businesses that manufacture US consumer goods in Mexico would inevitably pass on an import tax to American consumers, who could see the price of many goods soar.


    Spicer first said Thursday that Trump was on board with a plan by congressional Republicans to tax imports from Mexico as part of broader comprehensive tax reform legislation to help pay for the border wall.


    "By doing it that way we can do $10 billion a year and easily pay for the wall just through that mechanism alone. That's really going to provide the funding," Spicer had said, referring to a 20% tax.

    According to the Office of the US Trade Representative, Mexico's exports to the US in 2015 was valued at $316.4 billion. The trade deficit is estimated to be $50 billion.



    Trump tells Hill GOP: Meeting Mexican president 'fruitless'


    That alternative route appears to be lodged in raising a massive import tax on goods exported from Mexico to the US -- a tax that could cause the price of US consumer goods produced in Mexico to skyrocket.

    Despite the controversial nature of the proposal, which is likely to be met by stiff opposition from business leaders in the US, Spicer said the proposal is one "we've been in close contact with both houses (of Congress) in moving forward and creating a plan."


    "It clearly provides the funding and does so in a way that the American taxpayer is wholly respected," Spicer said Thursday.


    Spicer dodged reporters' questions about the impact of the border tax on American consumers, instead stressing the tax's benefits for American workers.


    "I'm not going to get into it," he added when pressed about businesses that manufacture goods in Mexico passing along the tax to American consumers.


    Hill Republicans react



    Several Republicans expressed concern about Trump's growing feud with Mexico, worried that the new President is starting a trade war with one of the country's most significant trading partners -- and could drive up the debt in the process.

    GOP officials are particularly worried about effectively closing off the border with one of the country's largest trading partners, while alienating Hispanic voters in the process.


    "Many unanswered questions about proposed "border adjustment" tax," tweeted Sen. John Cornyn, R-Texas, said.


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    Many unanswered questions about proposed "border adjustment" tax
    1:25 PM - 26 Jan 2017



    Sen. Lindsey Graham, R-South Carolina tweeted: "Border security yes, tariffs no. Mexico is 3rd largest trading partner. Any tariff we can levy they can levy. Huge barrier to econ growth. Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad."

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    Lindsey Graham
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    Border security yes, tariffs no. Mexico is 3rd largest trading partner. Any tariff we can levy they can levy. Huge barrier to econ growth /1
    1:38 PM - 26 Jan 2017



    Follow
    Lindsey Graham
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    Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad. (2)
    1:41 PM - 26 Jan 2017



    Sen. John McCain, R-Arizona also expressed concerns about NAFTA.

    "While renegotiations could help to strengthen and modernize NAFTA to benefit American businesses and consumers, any effort to restrict or impose new barriers on our ability to trade with Mexico and Canada could jeopardize the future of this trade agreement and have serious consequences for Arizona and the country," McCain said in a statement.


    House Freedom Caucus Chairman Mark Meadows, asked about Trump's proposed tax on Mexican imports to pay for the border wall, didn't embrace the idea.


    "Generally speaking I'm not in support of tariffs and taxes. At the same time I don't want to hamstring the administration," Meadows said. "Obviously we are going to look at a number of ideas to make sure that our border is secure -- at the same time throwing out an idea and necessarily settling on that are two different things."


    Meadows added: "As a matter of general principle I'm not for tariffs."


    "There's always the potential for retaliation which normally doesn't support good economic growth of either country," Meadows said.


    Ohio Republican Rep Jim Jordan, a leading House conservative, asked about offsetting the cost of the border wall, said before he decided if he could vote for the proposal from the Trump administration, said it was important to consider the impact on the deficit.


    Also, Republicans are expressing deep concern about Trump's threats to pull out of NAFTA, urging him to mend the relationship with Mexico.


    CNN's Deirdre Walsh, Manu Raju and Ted Barrett contributed to this report.

    http://www.latimes.com/politics/esse...htmlstory.html

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  9. #9
    Senior Member Judy's Avatar
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    Take names, make a list, and get rid of anyone who is "concerned" about putting America First. Our country was founded on tariffs. The Republican Party of Freedom For All opposed income taxes, not tariffs. You LuLu Birds need to go back to school before you start trying to second-guess Donald J Trump.

    The 20% tax proposal was actually a border adjustment tax on just the trade deficit portion, something over 100 countries worldwide already do, because they don't have stupid traitors in their Congress and Parliaments and Assemblies.

    The trade deficit with Mexico is around $60 billion a year, the 20% tax would be $12 billion a year. So 1 year and a couple of months would pay for the wall.
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  10. #10
    Moderator Beezer's Avatar
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    Stop the BILLIONS in tax fraud perpetrated by illegal aliens.

    Stop the 2016 tax refunds right now, in it's tracks.

    Let the ILLEGALS that are here working illegally, filing returns, stealing SS# pay for the wall.

    That would be the best justice of all.

    Money that should NOT end up in their hands.

    Our government, and ALL it's agencies, need to stop aiding and abetting illegal aliens.




    TWEET Trump...stop the illegal alien tax refunds now!
    ILLEGAL ALIENS HAVE "BROKEN" OUR IMMIGRATION SYSTEM

    DO NOT REWARD THEM - DEPORT THEM ALL

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