President Trump announces new tariffs: 25% for steel, 10% for aluminum

Discussion in 'Politics' started by basquebromance, Mar 1, 2018.

  1. basquebromance
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    basquebromance Platinum Member

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  2. BULLDOG
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    BULLDOG Diamond Member

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    Great. We've been needing a good trade war. MAGA!!!!
    MAGA.png
     
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  3. usmbguest5318
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    usmbguest5318 Gold Member

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    Good, lord. So rather than putting a tariff on value-added products, finished goods, he taxes raw materials, thus ensuring that the economic impacts of the tariff flows through the entire supply chain. That's brilliant. NOT!!! It's flat-out stupid.

    When a large importing country implements a tariff it will cause an increase in the price of the good on the domestic market and a decrease in the price in the rest of the world. But since Trump wants to impose the tariff on raw materials, it'll raise not only the price of steel and aluminum in the U.S., but also the price of everything made from that steel and aluminum.

    As for who will bear the incidence of the tax/tariff, well, that depends on the elasticity of demand and the elasticity of supply for each given product class, and in some instances, each differentiable product.

    [​IMG]
     
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    Last edited: Mar 1, 2018
  4. dudmuck
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    dudmuck Gold Member

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    Worked great back in 2002:
    The protection of the steel industry in the United States had unintended consequences and perverse effects: it reduced production of steel in the United States,[how?] increased costs to users, and increased unemployment in associated industries. A study from 2003 found that around 200,000 jobs were lost as a result.[6][7]
    I wonder what Trump tower is built from?

    And Obama's chinese tires.

     
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  5. Lastamender
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    Lastamender Gold Member

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    You are right there, give Trump a call.
     
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  6. TheOldSchool
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    TheOldSchool BANNED

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    Massive tariffs and subsidies! The GOP’s new theory for capitalism’s success!
     
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  7. BluesLegend
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    BluesLegend Diamond Member

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    Should we allow other countries like communist China to dump steel in the U.S. killing jobs for American workers? That's what liberals in this thread are saying. If China dumping steel into the U.S. was hurting illegals the liberals would be in an uproar.
     
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  8. Golfing Gator
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    Golfing Gator BANNED

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    So much for the free market conservatives.


    Sent from my iPhone using USMessageBoard.com
     
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  9. CrusaderFrank
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    CrusaderFrank Diamond Member

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    How about a tariff on Illegals?
     
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  10. TheOldSchool
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    TheOldSchool BANNED

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    Wow who knew you were a socialist liberal?
     
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