Have a family friend who is a steel salesman. Talked to him this weekend and he's on cloud 9. People calling him ordering truckloads that wont even be produced until April at the earliest. He voted for Trump (as did about 99% of the people I associate with) and couldn't be happier with his choice
(03-05-2018 03:34 PM)MemTigers1998 Wrote: Have a family friend who is a steel salesman. Talked to him this weekend and he's on cloud 9. People calling him ordering truckloads that wont even be produced until April at the earliest. He voted for Trump (as did about 99% of the people I associate with) and couldn't be happier with his choice
Terrific. He and his quarter million colleagues in the steel production business should be in fine shape. For a while anyway. In the mean time, how many of the 6.5 million employed by steel consuming industries in the US are going to be hurt? How many consumers are going to have to pay increased prices for goods that use steel? Maybe this ends up being a negotiating tactic for NAFTA (we can only hope), but otherwise: Tariffs on imported steel will hurt the American economy.
(03-05-2018 03:34 PM)MemTigers1998 Wrote: Have a family friend who is a steel salesman. Talked to him this weekend and he's on cloud 9. People calling him ordering truckloads that wont even be produced until April at the earliest. He voted for Trump (as did about 99% of the people I associate with) and couldn't be happier with his choice
Terrific. He and his quarter million colleagues in the steel production business should be in fine shape. For a while anyway. In the mean time, how many of the 6.5 million employed by steel consuming industries in the US are going to be hurt? How many consumers are going to have to pay increased prices for goods that use steel? Maybe this ends up being a negotiating tactic for NAFTA (we can only hope), but otherwise: Tariffs on imported steel will hurt the American economy.
That bogus. just more steel made here. The products will be produced by the same US workers. Your 6 pack will cost 6 cents more. Your average auto will cost $100-$200 more, that's 1/3 of one monthly car payment.
(03-05-2018 03:34 PM)MemTigers1998 Wrote: Have a family friend who is a steel salesman. Talked to him this weekend and he's on cloud 9. People calling him ordering truckloads that wont even be produced until April at the earliest. He voted for Trump (as did about 99% of the people I associate with) and couldn't be happier with his choice
Terrific. He and his quarter million colleagues in the steel production business should be in fine shape. For a while anyway. In the mean time, how many of the 6.5 million employed by steel consuming industries in the US are going to be hurt? How many consumers are going to have to pay increased prices for goods that use steel? Maybe this ends up being a negotiating tactic for NAFTA (we can only hope), but otherwise: Tariffs on imported steel will hurt the American economy.
That bogus. just more steel made here. The products will be produced by the same US workers. Your 6 pack will cost 6 cents more. Your average auto will cost $100-$200 more, that's 1/3 of one monthly car payment.
LOL. You forgot the prices for inputs into the inputs for our auto assembly plants too. So lets just raise input prices on American autos by 5% while reducing them for non-American ones by a similar amount. Remember that there is OVER capacity in foreign steel manufacturing and that steel will compete outside the USA, on price.
And with some batshit crazy, unpredictable, and utterly untrustworthy loon playing pinball with US economic policy, I'm not seeing a whole lot of interest in foreign companies, which have the most technology and access to capital in steel, investing significant amounts into US steel manufacturing right now. Those tariffs are going to get wiped away as soon as some adult gets in control. And everyone knows it. So no, there's not going to be any sane company overseas saying "Hey lets make a 10 year 200 million dollar investment in US steel manufacturing". They're just going to raise prices in the US, and lower them outside the US. And wait it out.
(This post was last modified: 03-05-2018 04:54 PM by Tom in Lazybrook.)
(03-05-2018 04:53 PM)Tom in Lazybrook Wrote: And with some batshit crazy, unpredictable, and utterly untrustworthy loon playing pinball with US economic policy
Hillary lost so we don't have to worry about that.
(03-05-2018 04:53 PM)Tom in Lazybrook Wrote: And with some batshit crazy, unpredictable, and utterly untrustworthy loon playing pinball with US economic policy
Hillary lost so we don't have to worry about that.
Dow +1.37% today.
+31.96% since the batshit crazy, unpredictable, and utterly untrustworthy loon's election.
People act like the EU has no tarriffs. Here is the US government report from 2017 (likely was largely prepared by the Obama administration).
Tariffs
The EU’s average applied MFN tariff rate is 4.8 percent. The average agricultural tariff rate is 10.9 percent,
and the average non-agricultural rate is 3.9 percent. All of the EU’s tariffs are bound at the WTO.
Although the EU’s tariffs are generally low for non-agricultural goods, there are also some high tariffs that
affect U.S. exports, such as rates up to 26 percent for fish and seafood, 14 percent for audio-visual
equipment, 10 percent for passenger vehicles, 22 percent for trucks, 6.5 percent for fertilizers and plastics,
10 percent for processed wood products, and 14 percent for bicycles.
The other thing people dont seem to realize is how dire the situation is for the US Steel and Aluminum industries. The situation is incredibly dire for aluminum. There are a total of TWO operating aluminum smelts left in the US. One doesnt even operate full time. There is fear the US aluminum industry might completely vanish within a year or two. Do you really want to be a nation with no domestic steel or aluminum production capabilities? Thats a very dangerous situation to be in with respect to national security and the US defense industry.
(This post was last modified: 03-05-2018 07:44 PM by Attackcoog.)
(03-05-2018 07:37 PM)Attackcoog Wrote: People act like the EU has no tarriffs. Here is the US government report from 2017 (likely was largely prepared by the Obama administration).
Tariffs
The EU’s average applied MFN tariff rate is 4.8 percent. The average agricultural tariff rate is 10.9 percent,
and the average non-agricultural rate is 3.9 percent. All of the EU’s tariffs are bound at the WTO.
Although the EU’s tariffs are generally low for non-agricultural goods, there are also some high tariffs that
affect U.S. exports, such as rates up to 26 percent for fish and seafood, 14 percent for audio-visual
equipment, 10 percent for passenger vehicles, 22 percent for trucks, 6.5 percent for fertilizers and plastics,
10 percent for processed wood products, and 14 percent for bicycles.
All countries, including the US have tariffs. But I think the procedure for tariffs shouldn't be for the Tweeter in Chief to declare something a military emergency in order to avoid going through due process to implement them.
(03-05-2018 07:37 PM)Attackcoog Wrote: People act like the EU has no tarriffs. Here is the US government report from 2017 (likely was largely prepared by the Obama administration).
Tariffs
The EU’s average applied MFN tariff rate is 4.8 percent. The average agricultural tariff rate is 10.9 percent,
and the average non-agricultural rate is 3.9 percent. All of the EU’s tariffs are bound at the WTO.
Although the EU’s tariffs are generally low for non-agricultural goods, there are also some high tariffs that
affect U.S. exports, such as rates up to 26 percent for fish and seafood, 14 percent for audio-visual
equipment, 10 percent for passenger vehicles, 22 percent for trucks, 6.5 percent for fertilizers and plastics,
10 percent for processed wood products, and 14 percent for bicycles.
All countries, including the US have tariffs. But I think the procedure for tariffs shouldn't be for the Tweeter in Chief to declare something a military emergency in order to avoid going through due process to implement them.
Did you read the bottom of that post? There literally is almost no time to waste with respect to trying to salvage the remains of these two industries. The Trump administration is correct to term this a military emergency---unless you want your defense industry to be totally reliant on foreign steel and aluminum.
(This post was last modified: 03-05-2018 07:49 PM by Attackcoog.)
(03-05-2018 07:46 PM)Attackcoog Wrote: Did you read the bottom of that post? There literally is almost no time to waste with respect to trying to salvage the remains of these two industries. The Trump administration is correct to term this a military emergency---unless you want your defense industry to be totally reliant on foreign steel and aluminum.
It is a military emergency. Our horrible trade practices are a threat to national security. We can't assure our ability to produce the arms and equipment our military needs with no domestic capabilities and relying upon imports.