Costco warns 'prices will go up' due to new tariffs

[mystery-ak]

Costco warns 'prices will go up' due to new tariffs
By Brooke Seipel - 05/31/19 08:23 PM EDT

Retail giant Costco says it will likely have to raise prices due to the ongoing trade war between the U.S. and China.

USA Today reports that Costco's chief financial officer, Richard Galanti, said during an earnings call with investors that the company is hoping it does not need to raise prices, but is preparing to do so after new tariffs were announced this month between the two nations.


“At the end of the day, prices will go up on things,’’ Galanti said. “We’re hopeful the ebbs and flows of the relations between our countries improves in that regard.’’

more
https://thehill.com/policy/finance/international-taxes/446444-costco-warns-prices-will-go-up-due-to-new-tariffs

[IsailedawayfromFR]

Or to say it more succinctly:  If you shop at Costco, do not expect American made products.

[kevindavis007]

Or to say it more succinctly:  If you shop at Costco, do not expect American made products.

Question, why do I have to buy American only?

[Wingnut]

Question, why do I have to buy American only?

You can buy what ever you want where ever you choose.  Shop till you drop Bubba.

[kevindavis007]

You can buy what ever you want where ever you choose.  Shop till you drop Bubba.

But you are OK with Government placing a tax on foreign goods.

[truth_seeker]

But you are OK with Government placing a tax on foreign goods.

Sure. Reagan raised tarifs of Jap oods.

https://mises.org/library/ronald-reagan-protectionist

[jmyrlefuller]

Question, why do I have to buy American only?

Because you're an American citizen. Like taxes, jury duty and the draft... it's a responsibility.

[jmyrlefuller]

But you are OK with Government placing a tax on foreign goods.

I'd rather have them on foreign than domestic.

[thackney]

Sure. Reagan raised tarifs of Jap oods.

https://mises.org/library/ronald-reagan-protectionist

Thanks for the link.  Did you read the conclusions at the end?

...The World Bank estimates that import restrictions in 1984 had the same effect as a 66% income tax surcharge on Amer­ica's poorest citizens. Less obvious is the harm to American producers, who lose exports and pay more for capital goods because of protectionism. For example, everyone, including the beleaguered American auto industry, has to pay more for steel because of the Reagan administration's restrictions on imports. Even the steel industry is hurt because artificially high prices stimulate the search for alternative materials.

President Reagan missed a unique opportunity to begin freeing the American economy from the shackles of trade re­strictions. He need not have given the American people a technical lesson in economics. He could have said that free trade requires no more justification than domestic economic freedom; indeed, it requires no more justification than the traditional American values of a humane and open society.

[ABX]

Wait, are you trying to tell me that when expenses go up, so do prices?  Wow..

[ABX]

But you are OK with Government placing a tax on foreign goods.

There is a better way to put it. This is a tax on Liberty. It sends a message to businesses that they must run their business the way the government wants with who they want. They can't go out and find the best value to produce the product that meets their customer's needs. Businesses aren't free, they are at the whim of the crown.

[Wingnut]

But you are OK with Government placing a tax on foreign goods.

I am okay trying to level the playing field which has been on a slope.  On that you are correct sir.

[Wingnut]

There is a better way to put it. This is a tax on Liberty. It sends a message to businesses that they must run their business the way the government wants with who they want. They can't go out and find the best value to produce the product that meets their customer's needs. Businesses aren't free, they are at the whim of the crown.

That may not be the biggest pile of crap you have ever written, but it is damn close.

[ABX]

That may not be the biggest pile of crap you have ever written, but it is damn close.

Coming from you, that's a compliment. I'm tired of suffering big government collectivist fools trying to argue for more government and more centralized control.

[jmyrlefuller]

Coming from you, that's a compliment. I'm tired of suffering big government collectivist fools trying to argue for more government and more centralized control.

And I'm tired of libertarians who aim to completely ignore a country's basic responsibility to defend its borders on all fronts, including economic. And guess what? That defense is "big government." That's what separates the civilized from the anarchists.

[jmyrlefuller]

There is a better way to put it. This is a tax on Liberty. It sends a message to businesses that they must run their business the way the government wants with who they want. They can't go out and find the best value to produce the product that meets their customer's needs. Businesses aren't free, they are at the whim of the crown.

Limits on corporate power? Perish the thought! 

[Wingnut]

Coming from you, that's a compliment. I'm tired of suffering big government collectivist fools trying to argue for more government and more centralized control.

Bless your little pea picking little collectivist heart.