Manufacturers Complaining About Tariffs

[Toro]

Trump's uneconomic Trade Taxes are hurting manufacturing, according to the Fed's Beige Book. It will get worse if Trump imposes Trade Taxes on $200 billion of Chinese goods.

• Manufacturers are complaining about tariffs.

Manufacturers in all Districts expressed concern about tariffs and in many Districts reported higher prices and supply disruptions that they attributed to the new trade policies.​

Here are a couple of Beige Book examples.

- ... a Maryland can manufacturer said he could not get the quality of steel needed domestically and anticipated losing business to foreign competitors who are not faced with steel tariffs.​

- ... machinery manufacturer noted that the effects of the steel tariffs have been chaotic to its supply chain--disrupting planned orders, increasing prices, and prompting some panic buying.​

The Daily Shot: Manufacturers Struggle with Steel Tariffs

 

[Disir]

The Illinois town where Trump's tariffs have provided jobs, and a sign of relief
Will Trump's tariffs help U.S. workers? It could be a wash

I have read lots of negative and a few positive.

 

[Shrimpbox]

It seems to the unprofessional observer that this is really a game of chicken. Who is going to blink first. The one positive observation is that these things can be stopped as quickly as they were started. Who wants to bet there will be some resolutions before Election Day and all sides will claim victory.

I have read a lot about Chinese loans and banks and they do not seem to be in a good position. Inversely, they apparently cheapen their currency almost every day.

 

[Care4all]

it's killing the Maine Lobster Industry....

 

[Shrimpbox]

Why is that? Because so many lobsters go to Canada?

 

[Jomama]

The Maine Lobster industry has acted like locusts over the years, tearing through a natural resource like a public employees union. I'm involved in 3 mfgs currently and Trump has caused upheaval to each of them. It will kill off the weak in many industries and put people out of business. And power will consolidate and prices will rise.

 

[Moonglow]

The Maine Lobster industry has acted like locusts over the years, tearing through a natural resource like a public employees union. I'm involved in 3 mfgs currently and Trump has caused upheaval to each of them. It will kill off the weak in many industries and put people out of business. And power will consolidate and prices will rise.

And the prices will never come down, just like during the spike in fuel prices during Dubya.

 

[OldLady]

Toro
If you have the patience, I'm hoping you (or someone) can explain the commodities market for me a little.

Last night on CSPAN, I saw a senate committee questioning Lighthizer about the tariffs.
Senator Collins used the example of a Maine business that is struggling with 45% higher steel prices because of the tariffs. She said US steel manufacturers have raised their prices to match imported (tariffed) steel.
This is my question:
I thought the whole reason for this tariff on steel was to make US steel cheaper so American manufacturers would buy it instead of foreign steel. Is that right so far?
So, if US steel manufacturers are now selling their steel for the same prices as imported steel, how is this going to help them sell more stuff?
Was Senator Collins misinformed? Usually she knows what she is talking about.
What is going on?

 

[Toro]

Toro
If you have the patience, I'm hoping you (or someone) can explain the commodities market for me a little.

Last night on CSPAN, I saw a senate committee questioning Lighthizer about the tariffs.
Senator Collins used the example of a Maine business that is struggling with 45% higher steel prices because of the tariffs. She said US steel manufacturers have raised their prices to match imported (tariffed) steel.
This is my question:
I thought the whole reason for this tariff on steel was to make US steel cheaper so American manufacturers would buy it instead of foreign steel. Is that right so far?
So, if US steel manufacturers are now selling their steel for the same prices as imported steel, how is this going to help them sell more stuff?
Was Senator Collins misinformed? Usually she knows what she is talking about.
What is going on?

The point of tariffs is to make things more expensive, not less.

Tariffs are taxes on imports. Increasing tariffs means increasing taxes.

Domestic companies raise their prices to capture what economists call “rent”, which is the monetary benefit that wouldn’t exist otherwise at the cost of everyone else.

Estimates are that the average price of a new car will go up $3000-$5000 if Trump raises his proposed tariffs.

 

[OldLady]

Toro
If you have the patience, I'm hoping you (or someone) can explain the commodities market for me a little.

Last night on CSPAN, I saw a senate committee questioning Lighthizer about the tariffs.
Senator Collins used the example of a Maine business that is struggling with 45% higher steel prices because of the tariffs. She said US steel manufacturers have raised their prices to match imported (tariffed) steel.
This is my question:
I thought the whole reason for this tariff on steel was to make US steel cheaper so American manufacturers would buy it instead of foreign steel. Is that right so far?
So, if US steel manufacturers are now selling their steel for the same prices as imported steel, how is this going to help them sell more stuff?
Was Senator Collins misinformed? Usually she knows what she is talking about.
What is going on?

The point of tariffs is to make things more expensive, not less.

Tariffs are taxes on imports. Increasing tariffs means increasing taxes.

Domestic companies raise their prices to capture what economists call “rent”, which is the monetary benefit that wouldn’t exist otherwise at the cost of everyone else.

Estimates are that the average price of a new car will go up $3000-$5000 if Trump raises his proposed tariffs.

So the tariffs are to allow US steel to sell their product for more, not necessarily get more business?

 

[Wyatt earp]

Trump's uneconomic Trade Taxes are hurting manufacturing, according to the Fed's Beige Book. It will get worse if Trump imposes Trade Taxes on $200 billion of Chinese goods.

• Manufacturers are complaining about tariffs.

Manufacturers in all Districts expressed concern about tariffs and in many Districts reported higher prices and supply disruptions that they attributed to the new trade policies.​

Here are a couple of Beige Book examples.

- ... a Maryland can manufacturer said he could not get the quality of steel needed domestically and anticipated losing business to foreign competitors who are not faced with steel tariffs.
- ... machinery manufacturer noted that the effects of the steel tariffs have been chaotic to its supply chain--disrupting planned orders, increasing prices, and prompting some panic buying.​

The Daily Shot: Manufacturers Struggle with Steel Tariffs

disrupting planned orders,




Oh noes life gets in the way.... What kind of statement/ complaint is that from a business ?

 

[Toro]

Toro
If you have the patience, I'm hoping you (or someone) can explain the commodities market for me a little.

Last night on CSPAN, I saw a senate committee questioning Lighthizer about the tariffs.
Senator Collins used the example of a Maine business that is struggling with 45% higher steel prices because of the tariffs. She said US steel manufacturers have raised their prices to match imported (tariffed) steel.
This is my question:
I thought the whole reason for this tariff on steel was to make US steel cheaper so American manufacturers would buy it instead of foreign steel. Is that right so far?
So, if US steel manufacturers are now selling their steel for the same prices as imported steel, how is this going to help them sell more stuff?
Was Senator Collins misinformed? Usually she knows what she is talking about.
What is going on?

The point of tariffs is to make things more expensive, not less.

Tariffs are taxes on imports. Increasing tariffs means increasing taxes.

Domestic companies raise their prices to capture what economists call “rent”, which is the monetary benefit that wouldn’t exist otherwise at the cost of everyone else.

Estimates are that the average price of a new car will go up $3000-$5000 if Trump raises his proposed tariffs.

So the tariffs are to allow US steel to sell their product for more, not necessarily get more business?

Both.

The point is to increase the profitability of the US steel producers. They will do it by increasing either the price of the steel or the amount of steel sold, though most of the increase in profitability will come through price increases.

And we the American consumer will pay for it.

 

[Toro]

Trump's uneconomic Trade Taxes are hurting manufacturing, according to the Fed's Beige Book. It will get worse if Trump imposes Trade Taxes on $200 billion of Chinese goods.

• Manufacturers are complaining about tariffs.

Manufacturers in all Districts expressed concern about tariffs and in many Districts reported higher prices and supply disruptions that they attributed to the new trade policies.​

Here are a couple of Beige Book examples.

- ... a Maryland can manufacturer said he could not get the quality of steel needed domestically and anticipated losing business to foreign competitors who are not faced with steel tariffs.
- ... machinery manufacturer noted that the effects of the steel tariffs have been chaotic to its supply chain--disrupting planned orders, increasing prices, and prompting some panic buying.​

The Daily Shot: Manufacturers Struggle with Steel Tariffs

disrupting planned orders,




Oh noes life gets in the way.... What kind of statement/ complaint is that from a business ?

That the businesses are being hurt by higher taxes.

 

[Supposn]

Trump's uneconomic Trade Taxes are hurting manufacturing, according to the Fed's Beige Book. It will get worse if Trump imposes Trade Taxes on $200 billion of Chinese goods.

• Manufacturers are complaining about tariffs.

Manufacturers in all Districts expressed concern about tariffs and in many Districts reported higher prices and supply disruptions that they attributed to the new trade policies.​

Here are a couple of Beige Book examples.

- ... a Maryland can manufacturer said he could not get the quality of steel needed domestically and anticipated losing business to foreign competitors who are not faced with steel tariffs.
- ... machinery manufacturer noted that the effects of the steel tariffs have been chaotic to its supply chain--disrupting planned orders, increasing prices, and prompting some panic buying.​

The Daily Shot: Manufacturers Struggle with Steel Tariffs

Toro, I wasn’t aware of the Federal Reserve’s Beige Book. Thank you for referring to it.

Collection of federal taxes or fees or tariffs with considerations of where imported products were produced or shipped from will eventually be economically and/or politically more problematic. Although a president’s tariff that’s not passed as a congressional act, can only be temporary, U.S. federal policy should assess products passing through our borders in a standardized manner, reflecting market values in USA domestic marketplaces or ports of entry, and expressed in U.S. dollars.

Tariffs upon imported steel and aluminum that are not also levied upon products containing steel and aluminum is foolish. We may increase USA sales of structural steel and railroad tracks, but we intend to reduce USA’s production and sales and of finished products containing steel? If a choice had to be made, first levy tariffs on the finished products rather than the materials.

Respectfully, Supposn