Trump announces steel and aluminum tariffs, stock markets take a tumble
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ah. then why didn't the libs go apecrap over obaMao and what he did to china?
Obama administration hit Chinese steel hard in 2016
Prior to this announcement, the U.S. had already implemented trade taxes on different types of imported steel from China. In 2016, the Obama administration imposed duties on some Chinese steel imports by more than 500 percent, causing Chinese imports to the U.S. to drop by almost two-thirds.
According to Yan Tong, Chief Business Development Officer at Shagang International, one of China's largest steel mills, the U.S. has been moving in this direction for years. "Trump's action just accelerated it," she said. "It doesn't affect us that much because we don't export to U.S., anyway."
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But if it's true that it will cut way down on the use of coal across the world it's a small sacrifice to save the planet isn't it Woody?
WSS
Oh no! You got me! Your "well why bother doing anything" attitude towards climate change wins again!
I've never been for crippling an economy. Not to mention I'm not sure your assumption is correct.
Oh no! You got me! Your "well why bother doing anything" attitude towards climate change wins again!
I've never been for crippling an economy. Not to mention I'm not sure your assumption is correct.
Well that's true. I guess you probably know it but don't want to say I'm right, but no, there's no reason to waste years and resources on things that won't work.
And hit the reaction to every single issue on the table is coming through the prism of I hate Trump or I love Trump then what's the difference?
WSS
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Gold is what you need for the Zombie Apocalypse.
We're getting closer though.
Gold is what you need for the Zombie Apocalypse.
We're getting closer though.
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So, what could go wrong with Trump's proposed tariffs?
WSJ: Gary Cohn Resigns as White House Economic Adviser After Losing Tariffs Fight
Barron's: Markets Now: Dow Set for 300 Point Drop as Cohn Resignation Crushes Stocks
Marketwatch: EU leader responds to Trump’s tariff plan: ‘We can also do stupid’
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The U.S. is facing some epic trade imbalances, and the EU thinks Trump is stoopid.
Who's zooming who?
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CBS News: Trump tariffs exempt Canada and Mexico
So, who exactly are the top 10 countries that the US imports steel from?:
The top 2 exporters of steel to the US are...Canada and Mexico....who are exempt from the new tariffs.
And where does China, who Trump claims is taking away American steel jobs, rank?
11th. And outside the top 10 sources, U.S. imports from 11th-ranked China actually went down 5% in 2017.
So, what exactly do these tariffs actually accomplish?
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So what are the other countries tariffs rates, especially Canada and Mexico?
WSS
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So what are the other countries tariffs rates, especially Canada and Mexico?
WSS
So what are the other countries tariffs rates, especially Canada and Mexico?
WSS
I’ll bet they are higher than the US tariffs.
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Good New for Ohio locally :
Republic Steel was once the third largest steel producer in the United States. It was founded as the Republic Iron and Steel Company in Youngstown, Ohio in 1899. After rising to prominence during the early 20th Century, Republic suffered heavy economic losses and was eventually bought out before re-emerging in the early 2000s as a subsidiary. The company currently manufactures Special Bar Quality (SBQ) steel bars and employs around 2,000 people. It is currently owned by Grupo Simec, based in Guadalajara, Mexico.
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Good New for Ohio locally :
Republic Steel was once the third largest steel producer in the United States. It was founded as the Republic Iron and Steel Company in Youngstown, Ohio in 1899. After rising to prominence during the early 20th Century, Republic suffered heavy economic losses and was eventually bought out before re-emerging in the early 2000s as a subsidiary. The company currently manufactures Special Bar Quality (SBQ) steel bars and employs around 2,000 people. It is currently owned by Grupo Simec, based in Guadalajara, Mexico.
Republic Steel was once the third largest steel producer in the United States. It was founded as the Republic Iron and Steel Company in Youngstown, Ohio in 1899. After rising to prominence during the early 20th Century, Republic suffered heavy economic losses and was eventually bought out before re-emerging in the early 2000s as a subsidiary. The company currently manufactures Special Bar Quality (SBQ) steel bars and employs around 2,000 people. It is currently owned by Grupo Simec, based in Guadalajara, Mexico.
Jobs - 1000 good paying jobs for Cleveland area.
Subaru, Honda, etc. also have Factories in the U.S. - still a good thing to have them in the U.S. for the jobs.
That's all I was pointing out, the Tariff has also resulted in U.S. Steel announcing 500 jobs along with some others.
We need all the good jobs we can get, as well as restoring our manufacturing capacity and quality.
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He should charge a tariff on the locally made steel to make the company move back to Ohio. MAGA.
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Republic Steel was once the third largest steel producer in the United States. It was founded as the Republic Iron and Steel Company in Youngstown, Ohio in 1899. After rising to prominence during the early 20th Century, Republic suffered heavy economic losses and was eventually bought out before re-emerging in the early 2000s as a subsidiary. The company currently manufactures Special Bar Quality (SBQ) steel bars and employs around 2,000 people. It is currently owned by Grupo Simec, based in Guadalajara, Mexico.
Jobs - 1000 good paying jobs for Cleveland area.
Subaru, Honda, etc. also have Factories in the U.S. - still a good thing to have them in the U.S. for the jobs.
That's all I was pointing out, the Tariff has also resulted in U.S. Steel announcing 500 jobs along with some others.
We need all the good jobs we can get, as well as restoring our manufacturing capacity and quality.
Jobs - 1000 good paying jobs for Cleveland area.
Subaru, Honda, etc. also have Factories in the U.S. - still a good thing to have them in the U.S. for the jobs.
That's all I was pointing out, the Tariff has also resulted in U.S. Steel announcing 500 jobs along with some others.
We need all the good jobs we can get, as well as restoring our manufacturing capacity and quality.
Let's say, for the sake of argument, that these tariffs do bring those 1000 steel manufacturing jobs.
What you and others fail to understand is, by placing an import tax on steel and aluminum, other countries will respond in kind. This will drive up the cost for secondary producers that use the steel and aluminum, which will result in companies having to lay off their workers to meet their budgets:
National Review: 600 Non-Steel Jobs at Risk for Every Steel Job
"Trump’s steel tariffs have been interpreted by many as an attempt to hold onto votes from the former steel towns, much as were George W. Bush’s in the early 2000s. This is a plausible explanation for what Trump is hoping to do. But it will turn out to be a losing political strategy.
The ten states whose economies depend most on steel and aluminum imports are Missouri, Louisiana, Connecticut, Maryland, Arkansas, Iowa, West Virginia, Alabama, Ohio, and North Dakota. Which is to say that these are the states with the largest percentage of jobs at risk from increased steel and aluminum taxes. All but two of those states were won by Donald Trump in the 2016 presidential election.
The industries that use steel and aluminum, as well as those that support those industries, employ many more people than those that produce the metals. Per research from Brookings, the ratio is 600 to one. These jobs, which are now at risk due to the increased costs that Trump’s tariffs will yield, are concentrated in states that Trump won.
"That which can be asserted without evidence can also be dismissed without evidence”. - Christopher Hitchens "The universe is under no obligation to make sense to you". - Neil deGrasse Tyson -
They will threaten, but they won't. Why? Because we rule. MAGA.
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Jobs - 1000 good paying jobs for Cleveland area.
Subaru, Honda, etc. also have Factories in the U.S. - still a good thing to have them in the U.S. for the jobs.
That's all I was pointing out, the Tariff has also resulted in U.S. Steel announcing 500 jobs along with some others.
We need all the good jobs we can get, as well as restoring our manufacturing capacity and quality.
Let's say, for the sake of argument, that these tariffs do bring those 1000 steel manufacturing jobs.
What you and others fail to understand is, by placing an import tax on steel and aluminum, other countries will respond in kind. This will drive up the cost for secondary producers that use the steel and aluminum, which will result in companies having to lay off their workers to meet their budgets:
National Review: 600 Non-Steel Jobs at Risk for Every Steel Job
"Trump’s steel tariffs have been interpreted by many as an attempt to hold onto votes from the former steel towns, much as were George W. Bush’s in the early 2000s. This is a plausible explanation for what Trump is hoping to do. But it will turn out to be a losing political strategy.
The ten states whose economies depend most on steel and aluminum imports are Missouri, Louisiana, Connecticut, Maryland, Arkansas, Iowa, West Virginia, Alabama, Ohio, and North Dakota. Which is to say that these are the states with the largest percentage of jobs at risk from increased steel and aluminum taxes. All but two of those states were won by Donald Trump in the 2016 presidential election.
The industries that use steel and aluminum, as well as those that support those industries, employ many more people than those that produce the metals. Per research from Brookings, the ratio is 600 to one. These jobs, which are now at risk due to the increased costs that Trump’s tariffs will yield, are concentrated in states that Trump won.
Let's say, for the sake of argument, that these tariffs do bring those 1000 steel manufacturing jobs.
What you and others fail to understand is, by placing an import tax on steel and aluminum, other countries will respond in kind. This will drive up the cost for secondary producers that use the steel and aluminum, which will result in companies having to lay off their workers to meet their budgets:
National Review: 600 Non-Steel Jobs at Risk for Every Steel Job
"Trump’s steel tariffs have been interpreted by many as an attempt to hold onto votes from the former steel towns, much as were George W. Bush’s in the early 2000s. This is a plausible explanation for what Trump is hoping to do. But it will turn out to be a losing political strategy.
The ten states whose economies depend most on steel and aluminum imports are Missouri, Louisiana, Connecticut, Maryland, Arkansas, Iowa, West Virginia, Alabama, Ohio, and North Dakota. Which is to say that these are the states with the largest percentage of jobs at risk from increased steel and aluminum taxes. All but two of those states were won by Donald Trump in the 2016 presidential election.
The industries that use steel and aluminum, as well as those that support those industries, employ many more people than those that produce the metals. Per research from Brookings, the ratio is 600 to one. These jobs, which are now at risk due to the increased costs that Trump’s tariffs will yield, are concentrated in states that Trump won.
Understood.
Problem is, these Countries are already Tariffing our products, or "dumping" products below value (China).
There is another problem here that is not being talked about, and that is the quality of Steel we're importing (substandard).
This has a pretty big impact on Bridges, Buildings, and in particular the Military.
How about those all those Navy collisions last year, was the damage worse than it should have been ?
Don't know, but you have to wonder.
I see where the additional jobs will help the Economy (local & national), and I see your point with the possible cost ramifications.
The thing is, I think we may both be getting ahead of things.
This is Trump.
While I'm sure he is looking to improve the quality and add jobs, this is a negotiation tactic.
Sure, he'll do tariffs if need be, but I believe he's looking more for a fair trade deal than a lot of the ones our past Leaders have given us.
On a level playing field the costs may still go up some, but it will be fair and affect all sides.
Competition can be a good thing and breeds innovation which can reduce costs.
In our prime, we used too kick @$$ in innovation, we've been Hamstrung for far too long - we need to get that back.
It's MAGA.
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