Josh Zumbrun

speaker

325 appearances 5 recordings 1 series first heard Dec 2018 last heard Oct 2023

Josh Zumbrun’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Tariffs Have U.S. Companies Paying Up, Facing Tough Choices · 10 Dec 2018 podcast

So it theoretically is going to help the U.S.

steel manufacturers by kind of hurting the international competition.

Now, in practice, it also makes it a lot more expensive for kind of everyone to get steel in the country.

Yeah.

So one of the kind of common misconceptions about tariffs is that the foreign country is kind of being billed for this tariff.

That's not the way it actually works.

You know, what happens is

You have to have any kind of anytime there's an import, there has to be an importer of record.

That has to be a U.S.

company that brings the product in.

And they're the one responsible for paying the tariff.

So they're the ones that has to figure out, OK, how am I going to pay for this?

You know, they can do it a couple of ways.

They can take a hit to their profits.

They could try to pass it on to consumers in the form of higher prices.

Or they can kind of try to force their foreign supplier to eat some of the cost and offer them a concession on pricing.

And so there's a lot of companies right now, you know, we're talking about $6 billion a month that, you know, if that continues, that would be $72 billion a year, pretty substantial amount of money where they're trying to figure out, okay, how much of this do I have to eat?

How much can I pass to consumers?

How much can I pass to my foreign suppliers?

It's kind of becoming a real logistical headache for them to figure that out.

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