CannonGentry
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November 19, 2019, 03:40:50 AM |
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I pre ordered 4x Whatsminer m20s from Pangolinminer... they are coming from China. Delivered via DHL between dec 15-30 Has anyone from USA ordered from them recently? Also what kind of taxes will I be seeing once they are shipped and how will I be notified to pay them? I emailed Pangolinminer and they said that they haven’t had issues with the trump tax but could not guarantee that I’ll avoid it...
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minefarmbuy
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November 19, 2019, 01:13:13 PM |
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Pango doesn't have to pay the tariffs so yes, they don't have to worry about it. You're likely liable for 37.6% duties+tariff on unit cost.
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philipma1957
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November 25, 2019, 02:08:34 PM Last edit: November 26, 2019, 12:37:53 AM by frodocooper |
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27.6% if I am not mistaken.
I have paid trump tax on bitmain's gear. 1228 for 2x s17's
I have paid trump tax on innosilicon's gear 350 a few times.
I avoided trump tax on the m10 units from pangolin each one of the eight I ordered was under 800 I ordered them 1 at a time.
grand total of 8 x 790 = 6320 but all a week apart. so no issues.
My guess is you will get caught and owe %27.6 x 8000 = 2208
if they wrote them up at 2000 a unit.
You should have asked them to list the price at 500 each
so 4x500 = 2000
I am curious as to how much you will be stuck .
I think I paid more the 2200 this year on gear ordered.
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minefarmbuy
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November 25, 2019, 02:29:08 PM |
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philipma1957
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November 25, 2019, 04:18:56 PM |
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wow missed the jump from 27.6 to 37.6. freaking nuts 🥜!! at cannongentry please tell us what happens.
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Searing
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November 26, 2019, 12:47:00 AM Last edit: November 26, 2019, 12:59:30 AM by frodocooper |
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I'm confused? Is this what they are charging in China now, because of the anticipated 10% tariff hike on December 15th? Or is this something else an 'upping' of the 2.7% import fee to 10% on ASIC miners (ie electronic components)?
Thanks...just lurking..not buying...but seems quite the clusterf*ck for those who are 'brave' enough to get ASIC equipment.
later
Brad
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philipma1957
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November 26, 2019, 01:33:05 AM |
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I'm confused? Is this what they are charging in China now, because of the anticipated 10% tariff hike on December 15th? Or is this something else an 'upping' of the 2.7% import fee to 10% on ASIC miners (ie electronic components)?
Thanks...just lurking..not buying...but seems quite the clusterf*ck for those who are 'brave' enough to get ASIC equipment.
later
Brad
I WOULD HATE TO PAY 37.6% TAX ON 4 m20s units.. it would be more then 3000
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Searing
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November 26, 2019, 01:48:28 AM Last edit: November 26, 2019, 11:20:30 AM by frodocooper |
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but what is with the post that states 37.6% is that just 'anticipating' the 10% tariff by the time your supposed China unit hit USA shores? (unsure how that works)
I understand the chart and all..just when/if/how it applies? now? dec 15th? whichever?
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
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minefarmbuy
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November 26, 2019, 05:53:52 AM |
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I don't recall the date but it's been a while now. "Late summer" just off hand.
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Searing
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November 27, 2019, 12:59:09 AM Last edit: November 27, 2019, 02:45:10 AM by frodocooper |
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Thanks, I was more than a bit, befuddled.
As far as I can tell from the news the 10% increase in China tariffs is still gonna go into effect on December 15th, unless some miracle happens, here in the USA.
Man, the 25% tariff is just one of like 20 or so clusterf*cks going on in the USA as we speak, sheesh...I wonder if the talk is true on more tariffs on the EU as well?
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
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STT
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November 27, 2019, 04:06:03 AM |
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Is it true to say the consumer is paying the tariffs not the makers or originating nation. China has supposedly devalued their currency to account for some of the difference but I'm not sure thats helped. If the hardware can be used anywhere in the world then the only people its hurting is the country operating the tariffs so its basically another form of taxation on those particular goods.
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Searing
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November 27, 2019, 05:55:04 PM Last edit: November 28, 2019, 10:38:44 AM by frodocooper |
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Is it true to say the consumer is paying the tariffs not the makers or originating nation. China has supposedly devalued their currency to account for some of the difference but I'm not sure thats helped. If the hardware can be used anywhere in the world then the only people its hurting is the country operating the tariffs so its basically another form of taxation on those particular goods.
Well, this recent article says that is exactly what China is doing to offset tariffs. https://www.scmp.com/news/china/diplomacy/article/3013678/china-letting-value-yuan-slide-offset-trade-war-tariffs-usChina also 'doubles' infrastructure projects to offset tariffs https://www.scmp.com/economy/china-economy/article/3033564/china-doubles-value-infrastructure-project-approvals-staveThe catch is China has many more options to play with as a quick-acting centralized system to counteract any tariff effects by the USA. The above also does not account for the other thing China has....trade surplus per year on top of the above. Anyway, how it looks are ASIC tariffs are gonna be here for quite a while yet. Then even if the tariffs go away, the USA still has to account for the other advantages China has above. sh*t Brad
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
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mgoz
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November 27, 2019, 08:10:32 PM Merited by frodocooper (3) |
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Is it true to say the consumer is paying the tariffs not the makers or originating nation.
Yes. This is exactly how tariffs work. The importer pays them, not the country of origin. If you are a consumer importing directly, you're paying 100% of the tariffs to U.S. customs. If you're buying from a re-seller that imported the goods, then they are marking up the goods to offset the tariffs that they paid to U.S. customs. Tariffs primarily hurt the consumer. They only hurt the manufacturers if the tariffs are high enough to make people no longer want to import. While Trump claims China is paying the tariffs, that's simply not true. China pays absolutely nothing on his tariffs. It's 100% on the importer. The billions he claims that are paid by China are actually paid by U.S. importers. He's just clueless.
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Searing
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November 28, 2019, 02:43:41 AM Last edit: November 28, 2019, 10:41:16 AM by frodocooper |
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Again, if you want to delve into economic detail google on why China has the advantage of this tariff, besides it benefiting China. 1) China has very little to worry about from the tariff side from their buying..it is the other way around. 2) China has a growing trade surplus with the USA so that also mitigates the tariff from China's point of view. https://www.cnbc.com/2019/01/14/china-2018-full-year-december-trade-exports-imports-trade-balance.html3) China can do more infrastructure projects on a quick say so, as a centralized economy and that also mitigates the tariff's effects as well. https://www.scmp.com/economy/china-economy/article/2183977/china-ramps-infrastructure-spend-stave-economic-slowdown-and4) China manipulates Yuan currency to also mitigate tariff's influence https://www.nytimes.com/2019/08/05/business/economy/us-china-yuan-renminbi-trump.html5) Of course, China also uses Capitalism as a means to keep power. If they needed to, they would toss markets under the bus further to keep Communist party in power. https://www.scmp.com/comment/insight-opinion/article/2119839/how-communist-china-has-embraced-capitalism-remains-leninistWe, the USA have as our only 'real' lever the imprefect shooting ourselves in the foot consumers eating the tariff costs as our redress. No way in hell, unfortunately, can China not win this battle. The Communist party of china does not care about profits, but eventually, the USA will crack and get rid of tariffs giving even more power to China in the economic front. I hope I'm wrong, but this whole mess tariff and otherwise is gonna end badly. We should have kept with the allies and the large asian pacific trade deals. As it is, we shot our load with tariffs and now have to eat the consequences. My own view is the tariffs will continue into the Spring of 2021 if there is a new Presidential administration. We are likely stuck till then, again, IMHO.
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Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:)
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Philipma1957cellphone
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November 28, 2019, 02:55:41 PM Last edit: November 30, 2019, 02:40:26 AM by frodocooper |
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or usa companies leave china and use India for cheap labor. Thus china is a big loser. As to this happening ask guys like Tim Cook. Frankly I don't hate the tax I rather us set up factories inside India. This would give usa two spots to build goods to send here. Not just china. Not a big fan of usa companies that only use china to build gear. Fuck them.
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This is philipma1957 alt. Do not conduct business with this account
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minefarmbuy
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November 28, 2019, 06:22:37 PM |
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Korea or Singapore would be best regarding duties specifically.
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Philipma1957cellphone
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November 28, 2019, 06:26:18 PM Last edit: November 30, 2019, 02:40:42 AM by frodocooper |
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Always wanted to visit Singapore would love to see usa get more building and exporting from them.
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This is philipma1957 alt. Do not conduct business with this account
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Biffa
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November 28, 2019, 11:35:56 PM Merited by frodocooper (2) |
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or usa companies leave china and use India for cheap labor. Thus china is a big loser. As to this happening ask guys like Tim Cook. Frankly I don't hate the tax I rather us set up factories inside India. This would give usa two spots to build goods to send here. Not just china. Not a big fan of usa companies that only use china to build gear. Fuck them.
I thought the entire point of this was to get US companies to manufacture in the US using US labour. Of course that won't actually help much because it will just mean more products will still be more expensive because people in the US won't work for the sort of money that people in China/India/Mexico etc will work for, so the US companies will just have to charge more because their labour costs are higher, and the consumer will have to pay more.
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philipma1957
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November 29, 2019, 11:40:18 AM Last edit: November 30, 2019, 02:41:33 AM by frodocooper |
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Part of the issue is theft of IP which China is pretty famous for or at least has been accused of doing.
Whether you build in China India or Mexico vs USA the smaller customer gets stuck one way or the other.
But if you only build in 1 country you don't have any flexibility to negotiate with the factory/government location.
If Apple had factories in China ,India, Mexico and USA vs Factories in China it gives them more flexibility to tell any location fuck you I will lower production here and ramp it up in other country.
It also helps lower theft of IP since if it happens while using the China location apple can say fuck you I will reduce production next year to punish you for theft of IP.
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