Donald Trump shoots himself in the other foot: Steel layoffs in US mount due to falling production

[Mac-7]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

 

[g5000]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

China reduced it's tariffs from 40% to 10% when it joined the WTO in 2001.

Try again.

 

[g5000]

The trade deficit has reached a record high, thanks to Trump.

His tariff war is a disaster. A total disaster.

Trump has also doubled the budget deficit to a trillion dollars since coming to office. This also contributes to the negative current account balance.

Twin deficits hypothesis - Wikipedia

 

[Denizen]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

The world socialists blame tariffs without explaining how tariffs are at fault

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

 

[g5000]

If Trump had just left the economy alone, it would have continued chugging along the way it was before he was elected. Then he would rightfully be able to take credit for a 30 thousand-plus Dow, three percent GDP growth, and rising manufacturing.

But the dumbass is doing everything he can to sabotage the robust economy he inherited.

 

[Mac-7]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

The world socialists blame tariffs without explaining how tariffs are at fault

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

 

[Denizen]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Orange is the new brown.

They work for China because the economy is controlled by the government and they control which sectors of industry will be promoted.

They don't work in the EU which has a lower GDP per capita than the USA.

The failure of Donald Trump's tariffs is exemplified by the declining industrial output and declining manufacturing in the USA.

 

[Brain357]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

The world socialists blame tariffs without explaining how tariffs are at fault

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

But tariffs have never done that. Just like they have never helped steel. See the OP.

 

[Brain357]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

Trade policy isn't the problem. Our problem is bad capitalism. We need to get rid of non competes. We need to eliminate all the wage collusion. We need to end corporate welfare. We need to fix all our near monopolies... All our problems are self inflicted and aren't trade related. The war on unions was a big loser as are right to work laws.

 

[Crepitus]

It is fairly simple, the tariffs drove up the cost of all steel, including that made here, initially by almost 50%. What this did was drive down the demand for steel, which hurts our steel producers.

Tariffs did not drive up the cost of steel made on America

Only imported steel cost more

What I see is that the way we produce steel needs to be more efficient whether we have tariffs or not

Yes, they did. When imported steel got more expensive than domestic they raised the prices to maximize profits.

Ok

Why did china raise its steel prices?

China didn’t, the tariffs raised their prices

Steel prices around the world went up not just in the US and china

If trump wins a second term china is in deep doodoo

He tariffed almost everyone.

 

[theHawk]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

China reduced it's tariffs from 40% to 10% when it joined the WTO in 2001.

Try again.

10% tariffs are still tariffs. Same goes for the EU.

 

[Mac-7]

The world socialists blame tariffs without explaining how tariffs are at fault

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

But tariffs have never done that. Just like they have never helped steel. See the OP.

Every nation in the world has tariffs and has had them since the Industrial Revolution

 

[Mac-7]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

Steel layoffs in US mount due to falling production and trade war
By Samuel Davidson
11 November 2019

Growing layoffs at major steel producers in the United States over the past three months point to a further slowdown in manufacturing and the impact of Trump’s trade war measures. All the major steel producers in the US have reduced production this year and this is now translating into a series of job cuts.
United States Steel (USS), the second largest steel producer in the US and once the symbol of US domination of industrial production, is facing a major crisis. The company’s stock has lost over 75 percent of its value since reaching a high of $45 per share in February 2018 when the Trump administration imposed a 25 percent tariff on steel imports. Today USS stock is trading at less than $11.
The company has announced that it will idle its tin mill in East Chicago, Indiana. The company claims that half of the 297 workers being laid off will be transferred to its other northwest Indiana steel mills, the Gary Works and the Midwest Plant in Portage. It gave no date for reopening the mill and most industry analysts expect it to permanently close because of falling demand for tin.
Earlier this year, USS shut down one of its blast furnaces at its Great Lakes Works near Detroit. Fifty workers were laid off at the time and another 200 lost their jobs at the end of September.
US Steel recently announced plans to buy a minority stake in Big River Steel for $700 million with the option to buy the rest of Arkansas-based steelmaker over the next four years. The buyout is part of USS’s cost-cutting measures. Big River uses an electric arc furnace to melt scrap metal instead of a blast furnace that produces new steel from iron ore.
Blast furnaces need to run at near peak capacity in order to be profitable while electric arc furnaces in so-called “mini-mills” can remain profitable at lower capacities. US Steel is also building new electric arc furnaces, but the decision to buy a competitor signals that the company needs to get into that market faster.
US Steel is not the only steelmaker slashing jobs. AK Steel has announced the closing of its mill in Ashland, Kentucky by the end of the year throwing all 260 employees out of work.
Earlier this year, TMK Ipsco Tubulars Inc. announced it was laying off 159 workers at its tubular plant in Wilder, Kentucky due to dropping demand from the oil and gas industry. Only 20 workers will remain, mainly for maintenance at the plant.
NLMK steel in Farrell, Pennsylvania laid off 100 workers over the summer citing the higher costs of steel imports. NLMK imported steel slabs from Russia and rolled them into finished products. The layoffs took place in the hot mill. About 300 workers are still working in other sections of the mill.
Last month, United Structures of America closed its plant in Portland, Tennessee, putting 45 employees out of work. The company blamed the layoffs on falling demand for steel from the construction industry.
Barber Steel Foundry in Rothbury, Michigan is closing this month, laying off all 61 employees. The foundry is part of Pittsburgh-based Wabtec Corporation, which manufactures locomotives and freight cars. Wabtec (Westinghouse Air Brakes Technology Corporation), which merged with GE Transportation, provoked a strike by 1,700 locomotive workers in Erie, Pennsylvania earlier this year that was isolated and betrayed by the United Electrical (UE) union.
Bayou Steel in Louisiana filed for bankruptcy October 1 and announced it was closing, putting 367 people out of work. Another 72 workers at its Harriman, Tennessee operations were also laid off. Bayou executives said they only had $50,000 in cash and were unable to secure credit.
Charlotte, North Carolina-based Nucor Corporation, the largest steelmaker in the United States, and Luxembourg-based ArcelorMittal, the largest steelmaker in the world, have both seen their stocks fall drastically this year and are under pressure to cut costs and jobs.
Nucor, which is also the largest mini mill operator, has seen its share value fall by nearly 25 percent since its high in 2018. ArcelorMittal’s stock has fallen nearly 60 percent, from a high of $36 in January 2018 to just $15.00. Like US Steel, ArcelorMittal relies primarily on blast furnaces to produce steel from iron ore.
During his election campaign, Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect.
US Steel, Nucor and ArcelorMittal all brought additional capacity online in anticipation of greater demand. While demand rose modestly, the additional capacity put online quickly led to a crisis of overproduction in the US market and falling steel prices. While there is a vast need for steel to repair and improve the infrastructure in the US and around the world, under the capitalist system of production for profit and the division of the world into rival nation-states workers now face the irrational prospect of being thrown into poverty because they have produced “too much” steel.
While most analyses point to tariffs as the cause of the crisis for steel producers, the general slowdown in production in the US and world economy is a major factor. US manufacturing has declined for the past three months while world demand is also down. ...

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

Trade policy isn't the problem. Our problem is bad capitalism. We need to get rid of non competes. We need to eliminate all the wage collusion. We need to end corporate welfare. We need to fix all our near monopolies... All our problems are self inflicted and aren't trade related. The war on unions was a big loser as are right to work laws.

Our trade policy is the root of the problem

After WWII we were the largest economy in the world based on the strength of the manufacturing base

Not retail sales

Not services like carpet cleaning

But because we made real products

At some point in the 1970’s we slowly began to move away from manufacturing and the bad results of that mistaken change are catching us with us now

 

[Mac-7]

[.

 

[Brain357]

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

But tariffs have never done that. Just like they have never helped steel. See the OP.

Every nation in the world has tariffs and has had them since the Industrial Revolution

So? They are a tax. They don’t save an industry.

 

[Brain357]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

Trade policy isn't the problem. Our problem is bad capitalism. We need to get rid of non competes. We need to eliminate all the wage collusion. We need to end corporate welfare. We need to fix all our near monopolies... All our problems are self inflicted and aren't trade related. The war on unions was a big loser as are right to work laws.

Our trade policy is the root of the problem

After WWII we were the largest economy in the world based on the strength of the manufacturing base

Not retail sales

Not services like carpet cleaning

But because we made real products

At some point in the 1970’s we slowly began to move away from manufacturing and the bad results of that mistaken change are catching us with us now

Yes we don’t have really cheap labor. We have lots of wealth and lots of jobs. We just need to empower workers again.

 

[Mac-7]

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

But tariffs have never done that. Just like they have never helped steel. See the OP.

Every nation in the world has tariffs and has had them since the Industrial Revolution

So? They are a tax. They don’t save an industry.

Yes, tariffs are a tax

But no, they do save an industry

Thats why critics call them protectionist

 

[Denizen]

retaliatory tariffs make our steel more expensive so we sell less.

The tariffs made chinese steel more expensive

Which was the idea

Tariffs make all steel more expensive and reduce demand.

Donald Trump's trade war is a textbook example of tariffs failing to work and adversely affecting the economy of the country imposing the tariffs.

US manufacturing is in decline and GDP growth has slumped to 1.9%.

Donald Trump has damaged brand America which will affect adversely affect sales of American products overseas for a decade.

Tariffs are necessary to save American manufacturing

which is something the US needs very much

But tariffs have never done that. Just like they have never helped steel. See the OP.

Every nation in the world has tariffs and has had them since the Industrial Revolution

Most nations don't have trade policies originating from a crazy, orange-haired, man's gut.

 

[Mac-7]

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

Trade policy isn't the problem. Our problem is bad capitalism. We need to get rid of non competes. We need to eliminate all the wage collusion. We need to end corporate welfare. We need to fix all our near monopolies... All our problems are self inflicted and aren't trade related. The war on unions was a big loser as are right to work laws.

Our trade policy is the root of the problem

After WWII we were the largest economy in the world based on the strength of the manufacturing base

Not retail sales

Not services like carpet cleaning

But because we made real products

At some point in the 1970’s we slowly began to move away from manufacturing and the bad results of that mistaken change are catching us with us now

Yes we don’t have really cheap labor. We have lots of wealth and lots of jobs. We just need to empower workers again.

You arent empowering workers when their factory closes and the job moves to china

 

[Denizen]

Everything Donald Trump has touched since January 2017 has turned brown and smelly.

Donald Trump levied tariffs on steel to create more jobs in the steel industry. However, the steel industry has lost jobs and is closing steelworks.

On top of that, steel prices went up to other US manufacturers who are now paying more for steel which has contributed to the downturn in US industries that use steel.

The negative effects of Donald Trump's tariffs prove that tariffs do not create jobs, they just raise prices and reduce demand.

"Trump repeatedly promised he would revive the steel industry through trade war measures primarily aimed at imports from China and Europe. The expectation of the tariffs and the tariffs themselves sent stock prices up in anticipation of huge profits. However, the protectionist measures have had the opposite effect."

Let us pray that Donald Trump's damage to the US and world economy is only temporary and will recover after Donald Trump's impeachment and expungement.

Steel layoffs in US mount due to falling production and trade war

It just means the tariffs aren’t high enough.

None of you idiots can explain why China and the EU have been using tariffs against the US for decades to protect their jobs if “tariffs don’t work”.

Why do you think they are “working” for the EU and China? The EU economy is weaker than ours. China’s run is coming to an end soon.

we cannot reverse 40 years of bad trade policy in 40 months

But we can begin the turnaround if trump remains in office

Trade policy isn't the problem. Our problem is bad capitalism. We need to get rid of non competes. We need to eliminate all the wage collusion. We need to end corporate welfare. We need to fix all our near monopolies... All our problems are self inflicted and aren't trade related. The war on unions was a big loser as are right to work laws.

Our trade policy is the root of the problem

After WWII we were the largest economy in the world based on the strength of the manufacturing base

Not retail sales

Not services like carpet cleaning

But because we made real products

At some point in the 1970’s we slowly began to move away from manufacturing and the bad results of that mistaken change are catching us with us now

Russian hooker business?