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

[Harpy Eagle]

Spurring an industry is far more complex than any diagram in a PDF.
And no industry exists in a vacuum from other industries.

so true------THAT ^^^^^ is why I do not understand economics------too many variables

Economics is a soft discipline.
Nobody can predict the actual ramifications of any economic policy.

oh-----in school-----my fortes were math, chemistry and
physics---------the questions have ANSWERS. Economics
seemed to me------silly------like intro to baby psych

You are not too far off the mark. But with economics recent history is a good judge of what will happen.

Which means our current policies are a disaster.

Yep, and have been for far too long

 

[Indeependent]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

because it is PROTECTIONISM on USA jobs----right?

As opposed to protectionism for Investors.

 

[irosie91]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

because it is PROTECTIONISM on USA jobs----right?

As opposed to protectionism for Investors.

ok----seems to make sense to me----but so many INSIST
that Trump protects investors over us common slobs

 

[Indeependent]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

because it is PROTECTIONISM on USA jobs----right?

As opposed to protectionism for Investors.

ok----seems to make sense to me----but so many INSIST
that Trump protects investors over us common slobs

That’s because our paid off Congress critters are funded by investors.

 

[TheMoreYouKnow]

You know I am 70 years old and I do not live in the past, I live for the future and right now the future does not look to bright if I am to higher prices for just about everything. To many of you oldster's like trump live in the 50's and 60's except for the tweeting. It's 2018 things have changed.

If you are that old, then you remember.

Was this the way Free Trade was supposed to work, ie we would always lose, and the working poor and middle class would never again advance economically?

Correll, your job at Fruit of the Loom underwear is not coming back, no matter what Trump does.

Your use of the Logical Fallacy of Proof by Ridicule is noted and accepted as an tacit admission that you cannot refute what I said.

THe answer is no, this was not the way the Free Trade Policy was supposed to work.


It has failed. The reasons are debatable. The failure is not.

It is NOT ridicule. The world economy dictates that each country produce what they can produce most efficiently. It is the natural law. They make underwear in the Philippines. We make computer chips.

Except we don't. Not as much as we used to, and less every year. And why?


Are American workers stupid and lazy?


No.

"In many ways, however, the IM Flash plant is an outlier. While companies based in the United States still dominate chip sales worldwide, only about 13 percent of the world’s chip manufacturing capacity was in this country in 2015, down from 30 percent in 1990, according to government data."



"Chip makers attribute the decline to a variety of forces, including high American tax rates and the hefty subsidies offered by foreign governments for new semiconductor plants, which can cost as much as $10 billion."




Jeez, other government subsidize manufacturing to get trade surpluses.


But...


I thought trade balance didn't matter.

Corporate welfare. Intel gets millions from Oregon to set up shop in Portland.

Of course the stipulations are to hire local. But most talent comes from other states and overseas where they have skills to do the jobs that are demanded.

Good and bad in the situation.

Still auto plants are subsidies in the southern states too.

 

[basquebromance]

President Trump erupts on twitter: "When a country Taxes our products coming in at, say, 50%, and we Tax the same product coming into our country at ZERO, not fair or smart. We will soon be starting RECIPROCAL TAXES so that we will charge the same thing as they charge us. $800 Billion Trade Deficit-have no choice!"

 

[BluesLegend]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

Anyone with a brain would support them.

 

[BluesLegend]

People, we have been in a trade war for DECADES. Other countries blatantly infringe on our patents, steal our IP, they go so far as to disassemble products manufactured in the U.S. and use them as molds for making cheap knocks offs after we spent all the money on R&D. They dump product and raw materials like steel and aluminum into the U.S. at cost even at a loss with the intentional purpose of bankrupting US companies so they can take over our markets.

Meanwhile they do not reciprocate, they do everything they can to keep the U.S. out of their markets. Do we just sit here like a punching bag and let them destroy U.S. manufacturing?

 

[francoHFW]

Anything to get the social media from ripping on fearless Trump tweets...

am still befuddled. If we do not use CHINESE steel
and aluminum in building OUR CARS------or other fancy
stuff------how is a tariff AFFECTING ME? I thought that
tariff would affect lousy substandard Chinese knives and
screw drivers

Trump tariffs and quotas have cost Americans lots of money on Timber and now Steel and aluminum. Canada's number one all that... The answer is what it always has been, to train our Workforce in high-tech jobs that pay, always blocked by the stupid GOP to save their precious greedy idiot Rich from paying their fair share.

 

[irosie91]

People, we have been in a trade war for DECADES. Other countries blatantly infringe on our patents, steal our IP, they go so far as to disassemble products manufactured in the U.S. and use them as molds for making cheap knocks offs after we spent all the money on R&D. They dump product and raw materials like steel and aluminum into the U.S. at cost even at a loss with the intentional purpose of bankrupting US companies so they can take over our markets.

Meanwhile they do not reciprocate, they do everything they can to keep the U.S. out of their markets. Do we just sit here like a punching bag and let them destroy U.S. manufacturing?

yes----trade war-----I remember that-----it was part of my
seventh grade education------almost 60 years ago----
with TARIFF in cartoon from-----some guy blocking a ship

 

[debbiedowner]

If you are that old, then you remember.

Was this the way Free Trade was supposed to work, ie we would always lose, and the working poor and middle class would never again advance economically?

Correll, your job at Fruit of the Loom underwear is not coming back, no matter what Trump does.

Your use of the Logical Fallacy of Proof by Ridicule is noted and accepted as an tacit admission that you cannot refute what I said.

THe answer is no, this was not the way the Free Trade Policy was supposed to work.


It has failed. The reasons are debatable. The failure is not.

It is NOT ridicule. The world economy dictates that each country produce what they can produce most efficiently. It is the natural law. They make underwear in the Philippines. We make computer chips.

Except we don't. Not as much as we used to, and less every year. And why?


Are American workers stupid and lazy?


No.

"In many ways, however, the IM Flash plant is an outlier. While companies based in the United States still dominate chip sales worldwide, only about 13 percent of the world’s chip manufacturing capacity was in this country in 2015, down from 30 percent in 1990, according to government data."



"Chip makers attribute the decline to a variety of forces, including high American tax rates and the hefty subsidies offered by foreign governments for new semiconductor plants, which can cost as much as $10 billion."




Jeez, other government subsidize manufacturing to get trade surpluses.


But...


I thought trade balance didn't matter.

Corporate welfare. Intel gets millions from Oregon to set up shop in Portland.

Of course the stipulations are to hire local. But most talent comes from other states and overseas where they have skills to do the jobs that are demanded.

Good and bad in the situation.

Still auto plants are subsidies in the southern states too.

Talk about auto's I bought a 2011 auto made and assembled in SK by far outperformed the same exact model made in 2014 in Alabama which I have had nothing but trouble with and the paint job is already fading and chipping. Fuel mileage on 2011 was 41 mph in town and around 46 highway, 2014 in town 32 highway 41. Workmanship of one made in SK far more superior than one made in Alabama. Parts probably made overseas and shipped in just how and who assembled it.

 

[bripat9643]

"Toyota says U.S. tariffs on steel, aluminum will raise costs, therefore prices of cars and trucks sold in America"

Reuters Politics on Twitter

The price for a ton of steel is about $140. If it takes one ton of steel to make a car, how much will a 25% increase in the price of steel increase the price of the car?

Answer: $35.

It will cost more than that (possibly $800-$900 a car) being that steel makes half the weight of the car....either case car manufacturers will demand suppliers to lower their prices on say a set of car seat, a set of glass (windshield, sidelights,backlights) or even tires to offset any other increase prices of the vehicle. So other industries are affected by the tariff.

Did you read what I wrote, moron? Steel costs $140/ton. I doubt there is more than a ton of steel in a typical sedan. If the price increases by 25%, that means it will only add $35 to the price of the car.

 

[Baz Ares]

Could this be INSIDER TRADING!? FFS! YES!

----
Trump confidant dumped millions in steel-related stock last week
Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports.

In a little-noticed SEC filing submitted on February 22, 2018, Icahn disclosed that he systematically sold off nearly 1 million shares of Manitowoc Company Inc. Manitowoc is a “is a leading global manufacturer of cranes and lifting solutions” and, therefore, heavily dependent on steel to make its products.
-----

The Great Douche will not pull the 25% tariff on steel.
But if IT does, that will make Icahn more money when he buys
these stocks again. Wher the short tariffs BS SCAM is removed.
The Great Douche is Tweeting to make money on shorting the market.

 

[bripat9643]

Could this be INSIDER TRADING!? FFS! YES!

----
Trump confidant dumped millions in steel-related stock last week
Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports.

In a little-noticed SEC filing submitted on February 22, 2018, Icahn disclosed that he systematically sold off nearly 1 million shares of Manitowoc Company Inc. Manitowoc is a “is a leading global manufacturer of cranes and lifting solutions” and, therefore, heavily dependent on steel to make its products.
-----

The Great Douche will not pull the 25% tariff on steel.
But if IT does, that will make Icahn more money when he buys
these stocks again. Wher the short tariffs BS SCAM is removed.

"Steel related stock?" probably half the stocks on the NYSE are "steel related." You snowflake morons are so desperate to pin something on Trump that it's hilarious to watch the logical contortions you suffer as a result.

The share price has been going down since mid-january.

Manitowoc Company, Inc. (The) (MTW) Stock Chart

 

[Baz Ares]

Could this be INSIDER TRADING!? FFS! YES!

----
Trump confidant dumped millions in steel-related stock last week
Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports.

In a little-noticed SEC filing submitted on February 22, 2018, Icahn disclosed that he systematically sold off nearly 1 million shares of Manitowoc Company Inc. Manitowoc is a “is a leading global manufacturer of cranes and lifting solutions” and, therefore, heavily dependent on steel to make its products.
-----

The Great Douche will not pull the 25% tariff on steel.
But if IT does, that will make Icahn more money when he buys
these stocks again. Wher the short tariffs BS SCAM is removed.

"Steel related stock?" probably half the stocks on the NYSE are "steel related." You snowflake morons are so desperate to pin something on Trump that it's hilarious to watch the logical contortions you suffer as a result.

The share price has been going down since mid-january.

Manitowoc Company, Inc. (The) (MTW) Stock Chart

True, for the outside trader. Carl is an insider trader with his still contacts with the Great Douche
For 14 month Carl trades buy and sells are done weeks before the Great Douche BS tweets about
an industry. Where the only thang that happens is stock movements. No new laws, no new EO's
Just Insider Trading BS!

 

[The Sage of Main Street]

So, the stock market is tanking, which is going to hurt his buddies at the country club, and the millionaire c congressman and senators, as well as retirees living on their investments. Meantime, the price of everything goes up, which, again, hurts American consumers, but help steel manufacturers. The price of new cars goes up, which hurts auto manufacturers, and dealers. China decides to start a trade war, which hurts everybody.

This is the beginning of what I predicted when he was elected. The trashing of our economy.

What companies and trade groups are saying about Trump's steel and aluminum tariffs

The Bullies' Pulpit

What the outsourcing GreedHead traitors are really preaching is, "What's best for the 1% is best for all you ungrateful Little People, too."

 

[g5000]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

Anyone with a brain would support them.

BWA-HA-HA-HA-HA-HA!

Spoken like a true blue liberal.

You mocked me when I predicted Trump would lead you pseudocons into the far left liberal cave.

And now look. Trump is proposing an assault weapons ban and a suspension of due process. Trump is proposing protectionist tariffs.

Trump has made you pseudocons into giant deficit Keynesians and pro-adultery. He's got pseudocons repeating the liberal line that Bush lied and people died. He's got them denying there were WMDs in Iraq. He's got them attacking law enforcement, a liberal favorite target. He's got pseudocons attacking our intelligence agencies which they used to salute for keeping us safe from terrorists. He's got pseudocons whining about "The Establishment", an old hippie favorite. He's got pseudocons admiring a KGB thug.

Wow!

I totally called it.

Next up, Trump will call for universal healthcare and you will support him.

 

[The Sage of Main Street]

Pennsylvania, Ohio, Michigan, Wisconsin.......

The Economic Bullies Call Trickledown "Gold Water"

Being pissed on is the real reason the Rust Belt corroded.

 

[Vandalshandle]

Correll, your job at Fruit of the Loom underwear is not coming back, no matter what Trump does.

Your use of the Logical Fallacy of Proof by Ridicule is noted and accepted as an tacit admission that you cannot refute what I said.

THe answer is no, this was not the way the Free Trade Policy was supposed to work.


It has failed. The reasons are debatable. The failure is not.

It is NOT ridicule. The world economy dictates that each country produce what they can produce most efficiently. It is the natural law. They make underwear in the Philippines. We make computer chips.

Except we don't. Not as much as we used to, and less every year. And why?


Are American workers stupid and lazy?


No.

"In many ways, however, the IM Flash plant is an outlier. While companies based in the United States still dominate chip sales worldwide, only about 13 percent of the world’s chip manufacturing capacity was in this country in 2015, down from 30 percent in 1990, according to government data."



"Chip makers attribute the decline to a variety of forces, including high American tax rates and the hefty subsidies offered by foreign governments for new semiconductor plants, which can cost as much as $10 billion."




Jeez, other government subsidize manufacturing to get trade surpluses.


But...


I thought trade balance didn't matter.

Corporate welfare. Intel gets millions from Oregon to set up shop in Portland.

Of course the stipulations are to hire local. But most talent comes from other states and overseas where they have skills to do the jobs that are demanded.

Good and bad in the situation.

Still auto plants are subsidies in the southern states too.

Talk about auto's I bought a 2011 auto made and assembled in SK by far outperformed the same exact model made in 2014 in Alabama which I have had nothing but trouble with and the paint job is already fading and chipping. Fuel mileage on 2011 was 41 mph in town and around 46 highway, 2014 in town 32 highway 41. Workmanship of one made in SK far more superior than one made in Alabama. Parts probably made overseas and shipped in just how and who assembled it.

I was loyal to Chrysler, GM, and Ford for 45 years, until my last car, which was a Cadillac. Their Twin Star engine start burning about 1 qt of oil every 1,000 miles at 30,000 miles (This was a 2000 Eldorado). When I complained to the dealership, they told me this was normal. To prove it, they showed me the actual wording in the owner's manual saying just that. Then I met a guy who spent his career as a Master Mechanic at a Caddy dealership who told me that Caddy used that same engine for about 12 years, knowing that it had a design flaw causing this oil burn. He told me that it was a simple fix, but that they chose not to spend the money to recast the dies for the engine block. In addition to this, all the oil seals in the engine and transmission had to be replaced at 50,000 miles, and the A/C unit had to be overhauled three times before 87,000 miles.

Now, I drive a Honda.

 

[Vandalshandle]

the head of the AFL-CIO Low Energy Rich Trumka has endorsed Trump's new tariffs

Anyone with a brain would support them.

BWA-HA-HA-HA-HA-HA!

Spoken like a true blue liberal.

You mocked me when I predicted Trump would lead you pseudocons into the far left liberal cave.

And now look. Trump is proposing an assault weapons ban and a suspension of due process. Trump is proposing protectionist tariffs.

Trump has made you pseudocons into giant deficit Keynesians and pro-adultery. He's got pseudocons repeating the liberal line that Bush lied and people died. He's got them denying there were WMDs in Iraq. He's got them attacking law enforcement, a liberal favorite target. He's got pseudocons attacking our intelligence agencies which they used to salute for keeping us safe from terrorists. He's got pseudocons whining about "The Establishment", an old hippie favorite. He's got pseudocons admiring a KGB thug.

Wow!

I totally called it.

Next up, Trump will call for universal healthcare and you will support him.

Pro-adultery Keynesians? OMG! Not that!