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Consumers' pain from trade war is 'greatly exaggerated': Storch



Former Toys ‘R’ Us CEO Gerald Storch on the impact of mounting trade tensions with China on U.S. consumers.

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34 comments

  1. Cutting taxes for filthy rich trust fund babies, raising taxes on the middle class and poor, THAT'S republican.

  2. Americans have turned into whimpering, cry babies who refuse to endure some short term pain for long term gain. Grow a spine America.

  3. Too many Chicken Littles talking! Take an axe to them all, please! Oh, the pain… the PAIN!

  4. Pretty soon China will become a thing of the past. The US doesn’t need China. Adjusting to life without China is uncomfortable but not impossible. China goods are crap anyway. US retailers have become lazy. They’ve relied on Chinese crap for far too long. This is the perfect situation to force US businesses to build quality products and US consumers to buy US goods made in America. China’s all used up and showing it’s age. The years have not been kind to her and she should not expect anyone to pay top dollar for her services.

  5. Sending companies to other countries who don't have overregulation and some even slave labor by are standards. Can't compete with unfair competition.

  6. We don’t have to do business with China ! They steal our technology , and bootleg our products , and they make cheap garbage !

  7. I thought China is strong and winning? Why the urgent need of devaluation?

  8. funny that on this video you can comment but the el paso videos comments were disabled…..fox a bunch of hypocrites.

  9. China will donate billions in US elections campaign to get better deal for china.

  10. The typical family has paid an extra $1000 per year due to tariffs on US goods. The interviewee did not deny that. Instead he said that going forward the extra cost of Chinese goods will be stopped because China will no longer interfere in currency markets. For years China has artificially propped up their currency to appease trading partners. Now to prevent additional Trump tariffs from raising prices paid in the US they have walked away from currency markets. Now with no artificial interventions their currency is free to decline to the level the free market dictates. So the price of Chinese goods bought with dollars will fall. Reducing the Trump Tax imposed on US consumers.

  11. Walmart profit margin is like 3%, the sales tax depending on where you live is 5-10%, think about that. Local governments make more money then Walmart while doing nothing. If you want to lower consumer prices, lower taxes.

  12. If you think the Americans want ''fair trade'' or a deal of some sort with China, I have a bridge you might be interested in buying. The Americans want to take China down. Simple as that. Unfortunately , an awful lot of countries that rely on selling goods to China ( China is the biggest export market for dozens of countries) will go down with her. Australia and all of East Asia for a start.

  13. Chinese made products are crap anyway.

  14. looks pretty good for being on F Troop 50 years ago

  15. Check out your local Good Will and Thrift shops for good quality clothes and whatever you need. Sacrifice for one year. Screw China.

  16. I hate when these analysts blame the closing of all theses stores on internet sales. The internet has been out for decades, this isn’t 1991. So please discuss what’s really going on.

  17. Plus they didn't even mention the tariff is not on retail price. NO DEAL WITH CHINA EVER! Screw these companies, we are finally seeing wages go up after 20 years!

  18. It's Wall Street and businesses dependent on China for their goods to sell are the fear-mongers. The tariffs are an inconsequential increase to our $14T consumer-driven economy as Mr. Storch points out.

  19. China is lowering their currency not for America but for the surrounding countries. ..exporting goods will be more cheaper than Vietnam or other countries can offer ….it
    is called mass production…China labour is so cheap so that other countries can not compete with them ….Companies have to stay in China now …😊…China will wait for the election 2020 in America. …smart move of the Chinese

  20. In the past week, two reports — a new Federal Reserve survey of more than 12,200 Americans about their finances and a new United Way report on financial hardship — reveal just how unstable life remains for a large number of people. Here's a rundown of the key findings: Forty percent of American adults don't have enough savings to cover a $400 emergency expense such as an unexpected medical bill, car problem or home repair.  Forty-three percent of households can't afford the basics to live, meaning they aren't earning enough to cover the combined costs of housing, food, child care, health care, transportation and a cellphone, according to the United Way study. Researchers looked at the data by county to adjust for lower costs in some parts of the country.  More than a quarter of adults skipped necessary medical care last year because they couldn't afford it.  Twenty-two percent of adults aren't able to pay all of their bills every month.  Only 65 percent of African Americans and 66 percent of Hispanics say they are “doing okay” financially vs. 77 percent of whites.

  21. Here's what's really going to happen: Years after idiot Trump leaves office the economy will crash due to his stupid policies. Republicans will blame the Democrats for the economic crash while the Democrats try to rebuild. When the economy is good again a republican president will have won the election and take all the credit.

  22. USA has already lost the trade war. Trump will be forced to capitulate sooner than later, as China has much more tricks up their sleeve to hurt US economy.

  23. Amen. Hopefully China won't do to Hong Kong what it did to It's Own People, Tibet, Tianneman, Weighurs.

  24. Hey Trump supporters. You listened to the explanation of trump atrocious behavior for over 2 years. FOX explained the problem is every single entity and person that opposes his great genius acts. If you can ignore 10 straight years of cumulative ONE BILLION losses i guess you can explain away why you are so F'ed. I mean if his treasonous actions doesn't concern you why should paying thru the nose? I mean just bend over and as the rod gets bigger and thrusts into you arse Trump, the GOP, and FOX will explain the pain is in your head. LOL.

  25. Idiot on TV says '…the net effect on any individual consumer would be a few tenths of one percent if it's any at all'. Economists say tariffs will cost an average family ~$1000/year. Believe who you want I guess.

  26. Yeah because China is devaluing their currency, which means they’re picking up the tab for these tariffs

  27. I DON'T MIND DUMPING FAKED IN COMMUNIST CHINA PRODUCTS !

  28. Rump in business use to bully and not pay his contractors he has met his match, China bring rump to his knees and then drop you're pants have him suck it

  29. Don't worry more stuff made in Vietnam and another country very cheap coming soon.

  30. Trump is Putin's puppet. Trump is destroying USA economy on Putin's order.

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