skews13
Diamond Member
- Mar 18, 2017
- 11,682
- 15,727
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Here’s how it works: Every time the US raises tariffs on steel, American companies, not having to face competition from lower prices from abroad, simply hike their own prices through the roof. This year, the American Iron and Steel Institute expects manufacturers, protected by tariffs, will raise the price of hot rolled steel by a stratospheric 18.75%!
Prices rise and US production goes down. General Motors, for example, will replace steel with plastics or simply sell fewer cars. American steel companies don’t care. The number of tons they sell may fall, but their profits take off. It’s the steelworkers, with steel shipments down, who get laid off.
Remember, steel companies are not in the business of making steel, they are in the business of making profits. The only reason Trump’s tariffs haven’t tanked steel industry employment is, according to industry analysts, because of President Joe Biden’s trillion-dollar infrastructure program.
So, I’m not shocked that Trump’s tariff terrorism on steel imports has cost American steel jobs … and it will get worse.
Well, thanks, Donald, that Pennsylvania mill wasn’t in jeopardy until you, Donald, blocked Nippon Steel from investing in the plant so it could stay open.
www.rawstory.com
There isn't a dumber son of a ***** on the planet than a fat ass shit for brains MAGA supporter. I wonder if any of those idiots at the plant saved their selfies with agent Taco?
Prices rise and US production goes down. General Motors, for example, will replace steel with plastics or simply sell fewer cars. American steel companies don’t care. The number of tons they sell may fall, but their profits take off. It’s the steelworkers, with steel shipments down, who get laid off.
Remember, steel companies are not in the business of making steel, they are in the business of making profits. The only reason Trump’s tariffs haven’t tanked steel industry employment is, according to industry analysts, because of President Joe Biden’s trillion-dollar infrastructure program.
So, I’m not shocked that Trump’s tariff terrorism on steel imports has cost American steel jobs … and it will get worse.
Well, thanks, Donald, that Pennsylvania mill wasn’t in jeopardy until you, Donald, blocked Nippon Steel from investing in the plant so it could stay open.
Trump doesn't always chicken out — just ask these workers that he's screwing
He did it again. On Wednesday, President Donald Trump doubled the tariff on steel and aluminum from 25% to 50%.And it’s the steelworkers who will pay with their jobs. Stay with me, and I’ll explain these weird, weird facts:Trump’s tariffs on foreign steel increased the amount of steel imported...
www.rawstory.com
There isn't a dumber son of a ***** on the planet than a fat ass shit for brains MAGA supporter. I wonder if any of those idiots at the plant saved their selfies with agent Taco?
