By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - Gaming Discussion - Trump's new tariff proposals include a 25% tax on video game consoles

haxxiy on 24 May 2019
Dulfite said:
Here's my take. It will only be temporary, and China cannot win a trade war with the U.S. so they will eventually break and then prices will be lower again and the U.S. will reap the benefits of having done it in the first place by having American made products purchased more because the tarrifs increase the cost of foreign imports and make them less of a steal. We import far more from China than they import from us, so they cannot win this fight. It's just a matter of time.

Or they just wait 20 months. Non-democracies can afford to play the long game.



 

 

 

 

 

Around the Network
Megiddo on 24 May 2019
sethnintendo said:
Well there aren't many products left to threaten tariffs. He said he wanted tariffs on all products and we are about to get there. In a full blown trade war now. I'm going to take half my money out of 401k with loan because here comes the correction. Plus I will prob die before retirement. I plan on working till I die

Depending how your 401k is codified it may be considered a retirement account, and if you do withdraw money from your 401k and it is considered a retirement account, then you will be hit a very heavy tax (around 35% if I remember correctly). Just FYI.



sethnintendo on 24 May 2019
Megiddo said:
sethnintendo said:
Well there aren't many products left to threaten tariffs. He said he wanted tariffs on all products and we are about to get there. In a full blown trade war now. I'm going to take half my money out of 401k with loan because here comes the correction. Plus I will prob die before retirement. I plan on working till I die

Depending how your 401k is codified it may be considered a retirement account, and if you do withdraw money from your 401k and it is considered a retirement account, then you will be hit a very heavy tax (around 35% if I remember correctly). Just FYI.

No that only applies if I cash out.  If take loan can only take half of your balance and you payback (you borrowed from your own money) through your paycheck.  To do this Fidelity charges about 2 or 3 percent interest to borrow own money (edit- just looked it up and apparently it is 6.5% which kind of sucks, apparently they might have raised the rate).  I figure if stocks tank than so what I buy back in at lower price while repaying my loan.  Sure I could put into bonds which could crash too or straight cash to safeguard but fuck it I want the money.

Last edited by sethnintendo - on 25 May 2019

Megiddo on 24 May 2019
Dulfite said:
Here's my take. It will only be temporary, and China cannot win a trade war with the U.S. so they will eventually break and then prices will be lower again and the U.S. will reap the benefits of having done it in the first place by having American made products purchased more because the tarrifs increase the cost of foreign imports and make them less of a steal. We import far more from China than they import from us, so they cannot win this fight. It's just a matter of time.

China can easily win a trade war with the U.S. They have far more buyers for their exports than just the United States. Whereas in the US many of our exports were sent mainly to China and we are having difficulty finding other partners. China is in a much, much more advantageous position to 'win'.



m0ney on 24 May 2019
KLXVER said:
So now americans will just have to pay a little less than most of the world for their consoles instead of much less...

I was going to say.



My Etsy store

My Ebay store

Deus Ex (2000) - a game that pushes the boundaries of what the video game medium is capable of to a degree unmatched to this very day.

Around the Network
Dulfite on 24 May 2019
haxxiy said:
Dulfite said:
Here's my take. It will only be temporary, and China cannot win a trade war with the U.S. so they will eventually break and then prices will be lower again and the U.S. will reap the benefits of having done it in the first place by having American made products purchased more because the tarrifs increase the cost of foreign imports and make them less of a steal. We import far more from China than they import from us, so they cannot win this fight. It's just a matter of time.

Or they just wait 20 months. Non-democracies can afford to play the long game.

I considered including that option in my post, but for some reason decided not to do so. You are right, they could just wait until a more pro-globality candidate wins office (in a year or 5 years) like Hillary Clinton, and Biden is certainly in that mold (and also by far the most likely Democratic nominee).



Dulfite on 24 May 2019
Megiddo said:
Dulfite said:
Here's my take. It will only be temporary, and China cannot win a trade war with the U.S. so they will eventually break and then prices will be lower again and the U.S. will reap the benefits of having done it in the first place by having American made products purchased more because the tarrifs increase the cost of foreign imports and make them less of a steal. We import far more from China than they import from us, so they cannot win this fight. It's just a matter of time.

China can easily win a trade war with the U.S. They have far more buyers for their exports than just the United States. Whereas in the US many of our exports were sent mainly to China and we are having difficulty finding other partners. China is in a much, much more advantageous position to 'win'.

I disagree, but that's okay. In 15-30 years China is going to be dealing with a situation that makes our baby boomer social security problem look like a joke. That need as much money from us as possible, as quickly as possible, while they try to sort out their own mess. You can think what you'd like, that's fine, and you may be right in the end, but I think Trump will break China on tariffs just like he did Canada and Mexico.



collint0101 on 24 May 2019

Really? We're going to do this right now before next gen hits? Fuck Trump and his trade war



haxxiy on 24 May 2019
Dulfite said:
haxxiy said:

Or they just wait 20 months. Non-democracies can afford to play the long game.

I considered including that option in my post, but for some reason decided not to do so. You are right, they could just wait until a more pro-globality candidate wins office (in a year or 5 years) like Hillary Clinton, and Biden is certainly in that mold (and also by far the most likely Democratic nominee).

As a side note, China is the main exporter to most Asian countries, most of which are quickly joining the global middle class. In absolute terms, India alone adds more GDP per year than North America and the European Union combined. Demographically, they are some two decades behind South Korea and Taiwan, so I don't think they're that much in a hurry as you believe. They'll be fine.

Not that I agree with this whole global trade business, mind you. To buy and sell locally is much better to the environment. But we're going way off topic here.



 

 

 

 

 

fatslob-:O on 24 May 2019
Dulfite said:

I disagree, but that's okay. In 15-30 years China is going to be dealing with a situation that makes our baby boomer social security problem look like a joke. That need as much money from us as possible, as quickly as possible, while they try to sort out their own mess. You can think what you'd like, that's fine, and you may be right in the end, but I think Trump will break China on tariffs just like he did Canada and Mexico.

In 15-30 years during that time frame, China will become a technological leader and powerhouse so by then they'll be able to "cash in" on their invested human capital so to speak. I don't imagine social security to be much of problem when the world will likely subsidize their technology ... 

Bandorr said:

China will easily destroy us in a trade war.  We are losing on three fronts.

First: China isn't paying the cost of the Tarrifs the US is. So the US is spending a ton of money paying the US to import items. A net loss for companies.

Second: The farmers are taking a massive beating which is why Trump keeps passing these bills to give them money. Which is why he just gave 16 billion to them. A massive net loss.

Three: The tax reform bill blew a MASSIVE hole in our budget and our deficit.  Meaning we have a lot less money.  Specially considering we have to keep bailing out the farmers.

That is why trump is desperately resorting to other things that aren't part of the trade war. Like banning Huawei.. then suggesting it would be part of the bartering process to unban it.

Which is awkward because how can you go from "Huawei is something that's very dangerous" to "It's possible that Huawei even would be included in some kind of trade dea" unless you are hopelessly, desperately, pathetically losing a massive trade war.

Stopping China's rise isn't necessarily a bad idea since there's nearly bipartisan support for it! It's probably a good idea to restrict Huawei since they are a leader in 5G technology ... 

Trump's goal in a trade war is to stop the progression of China's self-sufficiency in technology due to these "five-year plans" that the Chinese keep producing. What are Americans going to do if their highest end of the industries from silicon valley deindustrializes because their goods or services couldn't compete with the Chinese equivalents ? 

You have to look beyond Trump's trade war because globalization also means putting the American economy at risk ...

Last edited by fatslob-:O - on 24 May 2019