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

[Vandalshandle]

As of right now, the DOW is down another 223 points.

Looks like we have another Herbert Hoover in the White House. But cheer up, folks, Trump is going to explain to us why tanking stocks and trade wars are GOOD for us!

 

[basquebromance]

"There’s about 1 ton of steel in a car. The price of a ton of steel is $700 or so, so 25% on that would be one half of 1% price increase on the typical $35000 car. So it’s no big deal." - Low Energy Wilbur Ross

 

[hazlnut]

We are a Golden Retriever. Trump throws another tennis ball to keep us busy until next Friday.


a) Russia claims to have ICBMs capable of defeating our missile defenses.

b) Alec Baldwin is going to be on SNL.

Which one would any normal President be completely focused on and which one would any normal President be completely indifferent to...possibly not even aware of... given the magnitude of other?

 

[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

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 share price is the share price. Carl pays the same price as everyone else. The stock started a precipitous decline 6 weeks ago, so there's hardly anything suspicious about him selling it towards the end of February.

 

[The Sage of Main Street]

Jobs are better to have than resources.

You think we will sell a lot of cars when we are paying artificially higher steel prices? Last steel tariffs we lost jobs.

I think that we will not improve our trade balance until we show the rest of the world that we will not be their ***** anymore.

We bought up the rest of the world. That’s why there’s a trade imbalance. They’ve been our ***** for decades.

I live in the Rust Belt. We have not bought up the rest of the world.


THey have fucked US.

This is just a tax increase bud whether you live in the rust belt or east coast.

'The president is proposing a massive tax increase': Conservatives tee off on Trump for tariff move

Excise Tax on Plutocratic Parasites

A tax increase only on Wall Street outsourcers.

 

[bripat9643]

"There’s about 1 ton of steel in a car. The price of a ton of steel is $700 or so, so 25% on that would be one half of 1% price increase on the typical $35000 car. So it’s no big deal." - Low Energy Wilbur Ross

The chart I looked at said the price was $140 per metric ton. Of course, auto makers use mostly rolled sheet steel, which may cost a little more

 

[TheOldSchool]

You think we will sell a lot of cars when we are paying artificially higher steel prices? Last steel tariffs we lost jobs.

I think that we will not improve our trade balance until we show the rest of the world that we will not be their ***** anymore.

We bought up the rest of the world. That’s why there’s a trade imbalance. They’ve been our ***** for decades.

I live in the Rust Belt. We have not bought up the rest of the world.


THey have fucked US.

This is just a tax increase bud whether you live in the rust belt or east coast.

'The president is proposing a massive tax increase': Conservatives tee off on Trump for tariff move

Excise Tax on Plutocratic Parasites

A tax increase only on Wall Street outsourcers.

A tax increase on everybody, which adversely affects the middle and lower classes.

 

[Windparadox]

`
The backlash is starting - Nations Threaten Retaliation for Trump’s Steel Tariffs Plan - Americans will lose jobs over this stupid action by trump.
`
`

 

[The Sage of Main Street]

he just fullfilled another campaign promise!

https://www.washingtonpost.com/news...num-imports/?tid=ss_tw&utm_term=.901513c38611

Bend over rubes, the US doesn't have the capacity right now to produce steel, prices will be going up on consumer goods, the steel plants that were closed don't have working coke furnaces, you can't restart them


Market Realist

Men of Steel, Not Sissies in Suitcoats


Tell that to the Japanese, whose plants were obliterated in World War II.

 

[Harpy Eagle]

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

Get back with us at the end of the year and again tell us how these tariffs are the greatest thing since sliced bread.

Killing American jobs is why you bunch of dummies lost the election.

So dorks, china and europe say they will now cut buying ag products from the US, how will that workout for the flyover crowd

Typical response from you people, we should just bend over and let China screw us? Talk to the hand you gutless nancy

Why do you morons keep talking about China when dealing with steel imports...

 

[bripat9643]

"There’s about 1 ton of steel in a car. The price of a ton of steel is $700 or so, so 25% on that would be one half of 1% price increase on the typical $35000 car. So it’s no big deal." - Low Energy Wilbur Ross

 

[dudmuck]

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 share price is the share price. Carl pays the same price as everyone else. The stock started a precipitous decline 6 weeks ago, so there's hardly anything suspicious about him selling it towards the end of February.

It was suspicious to you guys when it happened under Obama.

 

[Vandalshandle]

`
The backlash is starting - Nations Threaten Retaliation for Trump’s Steel Tariffs Plan - Americans will lose jobs over this stupid action by trump.
`
`

I honestly think that Trump is having a nervous breakdown.

 

[Desperado]

I have alwas thought recipricol trade tarrifs were a great idea.
We tax them what they tax us

 

[Hutch Starskey]

In greater detail, let’s summarize the outcomes from protectionist trade policy in the form of steel tariffs: 1) Domestic steelmakers will win with higher steel prices, higher profits and share prices (U.S. Steel’s stock has nearly doubled since January 1), and greater market share, but 2) Domestic steel-using manufacturers will lose because of higher input prices, lower profits, and possibly reduced sales and market share) and 3) Millions of American consumers and businesses will lose when they now pay higher prices for everything that contains steel, including cars, appliances, tractors, tools, construction materials, wind turbines, forklifts, pipelines, and airplanes.


US steel tariffs: A case study in protectionism, economic losses on net, and 'legal plunder' - AEI

Say goodbye to the gains from that swell $1200 tax cut.

 

[Wickerthing]

Yet another moronic move by the yellow scourge. So he wants to punish the American people and our closest allies. Why? Because it came to him in a dream? This guy is clueless. It will hurt every American and Canadian more than anyone else. Oh, and I almost forgot, South Korea as well. Not to mention the inflationary nature of tariffs. Every thing we buy that contains either material will go up in price and the cumulative effect will be awful. Canned goods, cars, hell, every fuckin' thing we buy practically. It will have an effect on interest rates too. This guy just shoots from the hip without regard to consequences. What a tool! I hope the more sensible minds in Washington will talk to him and get him to shitcan this idiotic idea.

 

[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

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 share price is the share price. Carl pays the same price as everyone else. The stock started a precipitous decline 6 weeks ago, so there's hardly anything suspicious about him selling it towards the end of February.

It was suspicious to you guys when it happened under Obama.

In that example we have proof that they had the information before the event occured. There's no proof that Icahn knew Trump was going to impose a tariff.

 

[Hutch Starskey]

My conspiracy theory for the day:

If you were a globalist, what better way to push your agenda than to put a wolf in sheeps clothing in the White House to talk about “merica first” and then to make America weaker economically and to weaken our position all around the world.



Sent from my iPhone using USMessageBoard.com

He did attend in Davos recently.

 

[bripat9643]

In greater detail, let’s summarize the outcomes from protectionist trade policy in the form of steel tariffs: 1) Domestic steelmakers will win with higher steel prices, higher profits and share prices (U.S. Steel’s stock has nearly doubled since January 1), and greater market share, but 2) Domestic steel-using manufacturers will lose because of higher input prices, lower profits, and possibly reduced sales and market share) and 3) Millions of American consumers and businesses will lose when they now pay higher prices for everything that contains steel, including cars, appliances, tractors, tools, construction materials, wind turbines, forklifts, pipelines, and airplanes.


US steel tariffs: A case study in protectionism, economic losses on net, and 'legal plunder' - AEI

Say goodbye to the gains from that swell $1200 tax cut.

I hardly think anyone is going to cry over $35.

 

[MarathonMike]

If you haven't figured out Donald Trump's negotiation strategy yet, let me spell it out for you. His first move is ALWAYS over the top. That establishes a threshold from which he negotiates down giving his adversary the feeling they have won when he ends up getting the deal he wants.