nat4900
Diamond Member
- Mar 3, 2015
- 42,021
- 5,964
- 1,870
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- #1
Throughout his campaign, Trump received huge cheers from his base whenever he mentioned that he would impose high tariffs on foreign imports.......That cheering was mostly based on his base's ignorance of the repercussions resulting from the tariffs.......Demagoguery from a charlatan sound "good" until reality sets in.
Trump's tariffs risk jobs and profits in working-class areas
WASHINGTON (AP) — President Donald Trump's escalating dispute with China over trade and technology is threatening jobs and profits in working-class communities where his "America First" agenda hit home.
The Commerce Department has received more than 2,400 applications from companies seeking waivers from the administration's tariffs on steel and aluminum imports, which may result in duty payments of millions of dollars for larger businesses. The department has begun posting the requests online for public comment; several of the applications released so far suggest deep misgivings with Trump's protectionist strategy, especially in areas where he won strong support during the 2016 election.
……In Oklahoma, Texas and Wisconsin, for example, businesses operating in the furniture, energy and food sectors have outlined the financial difficulties they'd face if they're not excused from the steel tariff. In Okmulgee, Oklahoma, dozens of jobs hang in the balance as office furniture giant Steelcase waits to hear back from the Commerce Department.
…..Trump won most of the votes cast for president in Okmulgee County. Without a waiver, Steelcase warned, the "economic viability of PolyVision (and) the small town of Okmulgee" would be jeopardized. Roger Ballenger, Okmulgee's city manager, said he and other local officials are "very concerned about the situation with PolyVision."
The U.S. temporarily exempted several major trading partners, including the European Union, Mexico and Canada. China, which was left on the target list, retaliated by imposing tariffs on $3 billion in U.S. products, including apples, pork and ginseng.
Trump responded by adding more protectionist measures as punishment for Chinese theft of U.S. intellectual property. And Beijing punched back by proposing tariffs on $50 billion in U.S. products including small aircraft and soybeans — a direct threat to rural areas that were key to Trump's victory.
Economists Joseph Francois and Laura Baughman estimated last month that the tariffs would increase employment in the U.S. steel and aluminum industries by more than 26,000 jobs but also lead to the loss of 495,000 other jobs throughout the rest of the American economy.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Trump's tariffs risk jobs and profits in working-class areas
WASHINGTON (AP) — President Donald Trump's escalating dispute with China over trade and technology is threatening jobs and profits in working-class communities where his "America First" agenda hit home.
The Commerce Department has received more than 2,400 applications from companies seeking waivers from the administration's tariffs on steel and aluminum imports, which may result in duty payments of millions of dollars for larger businesses. The department has begun posting the requests online for public comment; several of the applications released so far suggest deep misgivings with Trump's protectionist strategy, especially in areas where he won strong support during the 2016 election.
……In Oklahoma, Texas and Wisconsin, for example, businesses operating in the furniture, energy and food sectors have outlined the financial difficulties they'd face if they're not excused from the steel tariff. In Okmulgee, Oklahoma, dozens of jobs hang in the balance as office furniture giant Steelcase waits to hear back from the Commerce Department.
…..Trump won most of the votes cast for president in Okmulgee County. Without a waiver, Steelcase warned, the "economic viability of PolyVision (and) the small town of Okmulgee" would be jeopardized. Roger Ballenger, Okmulgee's city manager, said he and other local officials are "very concerned about the situation with PolyVision."
The U.S. temporarily exempted several major trading partners, including the European Union, Mexico and Canada. China, which was left on the target list, retaliated by imposing tariffs on $3 billion in U.S. products, including apples, pork and ginseng.
Trump responded by adding more protectionist measures as punishment for Chinese theft of U.S. intellectual property. And Beijing punched back by proposing tariffs on $50 billion in U.S. products including small aircraft and soybeans — a direct threat to rural areas that were key to Trump's victory.
Economists Joseph Francois and Laura Baughman estimated last month that the tariffs would increase employment in the U.S. steel and aluminum industries by more than 26,000 jobs but also lead to the loss of 495,000 other jobs throughout the rest of the American economy.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
