American Thinker: This article, from ABC News, is a textbook exhibit showing how stupid most reporters are on economics. Here it is:
‘Make America Great Again’ hats could double in price after new US tariffs: Merchandiser
The latest round of tariffs on products from China proposed by President Donald Trump could double the price of “Make America Great Again” hats inspired by his 2016 campaign slogan, according to a merchandiser who imports them.
The new tariffs announced Thursday would hit $200 billion worth of Chinese imports, especially consumer goods, including the popular hats sported by Trump supporters around the nation, according to a story first reported by the Associated Press.
“We usually sell the MAGA hats for around $9 to $12. But it could go up to $20 if we had to make them in the U.S. and embroider them here,” Lassoff said.
While IncredibleGifts isn’t affiliated with the Trump campaign, Lassoff said the company has sold “a few 100,000 MAGA hats” since Trump announced his candidacy in June 2015.
“They’re our hottest item,” he said of the classic red hats with embroidered white lettering.
“We buy our hats from China for $3, and we sell them for $14,” she told ABC News, adding that the Chinese factory “does everything” from manufacturing to embroidery.
For starters, why wouldn’t the press have questions when a merchandiser makes a statement like this?
The first problem from the media is in its suggestion that there are 100% tariffs on $200 billion of Chinese goods, which would be the only reason prices would double. In reality, the actual tariff is only 10%, meaning, the price should go up just 10%.
So why would the retail price ever double when the tariff is only on the cost? In this example, the retailer pays at the most $4 per hat, which means the tariff would only add 40 cents to his cost. So why the heck would anyone raise the price $6 when the cost only goes up 40 cents? Or, why would he stop buying from the Chinese when the cost is only going up 40 cents and his markup is ten dollars? more here
Sounds like this hat guy would rather be selling hundreds of thousands of I’M WITH HER caps.
Hmm. Do you suppose that if H-Rod had succeeded in stealing the election, people would start wearing copy-cat back braces and prism glasses?
they’re scared so much they’re running lying propaganda to dampen the great, WINNING economic news … face it, if they have to lie about the economy, they’re losing & they know it
w/ this ‘treason’ bullcrap, they’re pulling out all the stops
otoh, I don’t like the MAGA hats … they’re golf hats … I a baseball cap man myself & usually don’t pay less than at least $25 for a cap … & don’t like one-size-fits-all … unless it’s a cap I really like (like the Capital’s Stanley Cup 2018 hat I recently bought). most hats you buy from the ‘official’ NFL, MLB, NHL, NCAA, NBA are garbage. fitted, blocked caps!
Reporter needs to buy a hat with some brains in it.
h/t Moe Howard
We need to hear more of what they think.
The Conservative Treehouse has a video of Alexandria O-C stating,”unemployment is low because everyone has two jobs.” , and more such nonsense.
Mine was made in the USA.
My hat and two shirts all have “made in the USA” stamped on them.
We bought our first MAGA white hat in the gift shop of Trump Tower right after the election in December. Can’t remember the exact price.
We bought our second MAGA red hat last summer in front of the National Archives – twenty bucks, cash on the street.
Where we live in NY? IF we would wear either would MEAN confrontation. So, we operate covertly…
IT would be nice if they were made in the South Bronx, BUT imagine the faces on the workers who make these caps in CHIIINA????
MAGA2016
KAG2020
Addendum:
Turns out a friend gave me a third one, the kind with the plastic mesh back.
Th above red one is made in Chiiina.
The white, full cap, one is made in Chiiina.
And, the red one, full cap from DC, is designed in the USA and made in CHiiina.
I do not care, in this case, where the effing dam hat is made.
IT’S THE MESSAGE THAT COUNTS!!!
MAGA2016
KAG2020
I don’t wear political hats, nor do I put political bumper stickers on my car, or political signs in my yard. I have never been influenced by such things and I’m pretty sure most other people are the same. All these items do is open me up to verbal attacks and vandalism by the crazies on the Left, which I can do without. What I do instead is vote, and I talk one-on-one to like-minded people who I feel may be influenced to vote in a similar fashion.
That’s how I Make America Great Again.
🙂
@ Vietvet – I agree with you premise.
That said, WHERE is one’s LIBERTY to wear the hat ya want to? Without some type of fear of retribution??
Way a way to live.
https://www.youtube.com/watch?v=EoFo9CEl1cM
What is a political hat?? OR corporate hat?
OR a Che shirt!!
Unhinged. Not you THEM.
MAGA2016
KAG2020
I switched between my red MAGA hat and my Black Trump 2020 hat lately. I have never received an ill response in central NJ on either the two! And since it’s summer I am also wearing my BFH painted Molen Labe Boat shoes, no socks for those who need to know how to dress! 😉
@ghost of col j glover: That LIBERTY went the to same place as your LIBERTY to carry a personal firearm without paying the State for a permit to do so, I suspect.
I occasionally wear my camo MAGA hat, no repercussions so far. But my favorite hat is my “Thai Special Warfare Command” hat that I was given a month before the soccer team rescue.
They have no frikking idea how businesses are run or how to turn a profit. Or how to be entreprenurial. They are economic idiots that think money grows on trees somewhere in DC.
i put signs in my yard. I want my neighbors to know where i stand and if they want to discuss it, we do it. I think signs influence others, especially if they see a lot of the same signs. (my studio/shop has old campaign signs on the wall too.) I dont wear hats becausse i dont like bb caps. But i will wear a political shirt. Its my liberty and if they dont like it fuck them.l But that said, if i saw a MAGA hat for sale somewhere, I’d buy it.
@ VietVet – You suspect correctly.
I helped a friend, a VERY good friend, try and permit register his pistol in NYC on the net because that is the new requirement to maintain the permit you have already.
This is a friend not good with net/computer skills.
NIGHTMARE.
In NY the are more concerned about Equality than Liberty.
MAGA2016
KAG2020
TP and B_B have it:
this is FAKE NEWS; the *real* MAGA hats are made in the USA.
thanks, CoD! Yes, Very Fake News. They think they got a gotcha on POTUS Trump by reporting that *his* hats are made in China and he’s some sort of hypocrite over fair trade and he’s screwing his own supporters with tariffs. Not so.
Our MAGA hats are made in the good ol’ U.S. of A. So are our shirts. I only wear my MAGA gear at rallies and party events. And I agree that they should be made in a baseball style, too. Golf hats are too big and don’t look as good on ladies.
AbigailAdams, the golf hat has more room in the front to accommodate the Trump hairstyle.
My wife did that type of embroidery for 7 years, still has the antiquated machine sitting in the den, until the cheap Chinese labor and extremely poor quality at first put her out o business.
Americans would rather pay less for poor quality. Then, once the Chinese had a foothold, they worked on improving quality and gradually raising those “bargain prices…”
…and they still push the loss of Chinese goods that took American jobs as a bad thing.
Get yourself a big, beautiful MAGA hat with those beautiful words—- made in the USA!