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Old 03-04-2018, 07:26 AM
 
27,519 posts, read 44,973,761 times
Reputation: 14062

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Quote:
Originally Posted by 1insider View Post
Good for the few, bad for the many. I can't figure out why anyone not directly benefiting from the steel industry thinks this is a good thing. There's a reason children shouldn't play with matches.
I would suggest to look at certain players in Trump's inner circle
Carl Icahn and Wilbur Ross have been pushing for this since Trump's campaign and Icahn apparently sold lot of steel stocks before the news came out----
He has done something like this before and supposedly was under investigation for insider trading---
But doubt anything comes of it since Trump will likely protect him
Wilbur Ross didn't divest his business interests either so he likely made some money from this

If you KNOW what major economic forces are going to be imposed on an "unsuspecting" market, you can usually make money and if you have lot of money to use, you can make X times what a more limited investor could...

Trump has no idea what really effects the economy---he is only concerned with HIS bottom line--
He preaches reducing visa workers and yet has them running all over Mar A Lago and his other resorts, for example...because that is cost effective for his operational budgets...
He is the classic example of "Do what I say, not what I do" parenting that teaches kids hypocracy in action--

Last edited by loves2read; 03-04-2018 at 08:08 AM..
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Old 03-04-2018, 07:30 AM
 
27,519 posts, read 44,973,761 times
Reputation: 14062
Quote:
Originally Posted by 2sleepy View Post
What do you think, that 20 new steel plants are going to magically open up because of these tariffs? What about auto manufacturers, don't you think that they might now consider opening or expanding plants in Mexico instead of the US? Our prices will go up on many products, but I'm sure my son will be ok with that his $7 biweekly pay increase due to the tax bill will surely cover it https://www.thestreet.com/story/1450...conomists.html

So we are going to save a few thousand steelworker's job at the sake of really screwing up the economy? And there will be retaliation, China is already threatening to cut soybean imports from the US and why in the world would he go after Canada? https://www.ers.usda.gov/topics/crop...l-crops/trade/

He's going to start a trade war, Bush did the same thing in 2002 and we lost 200,000 jobs as a result. And all because of what? Because he was angry about something and that doddering old fool Wilbur Ross told him the world would love him if he imposed these tariffs? https://www.bloomberg.com/view/artic...-george-bush-s

And believe it or not, the US doesn't just import steel, we export it too...don't you think the countries we export to will slap a similar tariff on steel? https://www.trade.gov/steel/countrie...exports-us.pdf

I just wish we had a person in the White House regardless of political party who could actually act like a President rather than a petulant 6 year old
Tried to rep you but couldn't
Facts don't mean much to this President or GOP leadership if they are willing to pass that last tax bill...
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Old 03-04-2018, 01:04 PM
 
3,581 posts, read 2,022,236 times
Reputation: 3314
A trade war would be a disaster for any region involved in overseas shipping in addition to exports. My city for example could lose a ton of aircraft production, agricultural shipping, and so on. I doubt trump cares about the blue states, but maybe he'll care about the red districts that rely on agricultural trade (I'm assuming it'll be based on political games if he thinks beyond his own business interests).
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Old 03-04-2018, 01:34 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,586 posts, read 20,468,292 times
Reputation: 9078
Free trade is a net win for everyone. There is always a few loser but why handicap the other 95% of the economy because a few people chose to stay in dying industries? Trade wars will raise the cost to consumers, the cost of publicly funded projects, and cause the stock market to fall. The 1970s aren't coming back with their tons of steel and coal jobs and tariffs won't change that.
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Old 03-04-2018, 02:46 PM
 
Location: Brookhaven
348 posts, read 398,099 times
Reputation: 369
Quote:
Originally Posted by Hopelesscause View Post
Americans should be happy to pay more to support American jobs. What’s wrong with you people? Thank you Trump, even though you’re a total jerk.
But 99% of Americans are not willing to do this...
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Old 03-04-2018, 02:55 PM
 
Location: Ohio
18,020 posts, read 13,247,591 times
Reputation: 13828
Quote:
Originally Posted by mhays25 View Post
A trade war would be a disaster for any region involved in overseas shipping in addition to exports.
Levying tariffs on solar panels, washing machines, steel and aluminum is not a trade war.

Trump is merely continuing Obama's policies:

  • Aggressively Pursuing – and Winning – Cases at the World Trade Organization: Today, the United States Trade Representative (USTR) is launching a new trade enforcement action against China at the World Trade Organization (WTO) targeting China’s unfair subsidies for its aluminum industry. This is the 25th WTO challenge of this Administration and the 16th against China alone. The United States has brought more WTO challenges over the last eight years than any other country. And we’ve won every single one of these challenges that has been decided.
  • Levying Anti-Dumping and Countervailing Duty Penalties on Foreign Industries and Trading Partners at the Highest Rate in 14 Years, Particularly Important to the Steel Industry: The Department of Commerce, U.S. Customs and Border Protection (CBP), and Immigration and Customs Enforcement (ICE) are enforcing 370 trade remedy orders that address dumped goods or unfairly subsidized imports and level the playing field for American workers and businesses.
https://obamawhitehouse.archives.gov...de-enforcement



New York: Producers in China and six other countries sold cold-rolled steel at unfairly low prices in the US market and will be taxed as much as 266% on the price, the Commerce Department said in a preliminary decision on Tuesday.

US imposes duty on imports of steel from India, China and others - Livemint
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Old 03-04-2018, 02:57 PM
 
Location: Central IL
13,379 posts, read 7,135,232 times
Reputation: 31113
Typical Trump...spoiling for a fight - any fight. To think a trade war is good and winnable. This is basically his own personal pi$$ing contest but it will end up hurting the U.S. - what's new?
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Old 03-04-2018, 04:48 PM
 
4,752 posts, read 2,180,671 times
Reputation: 4335
So much drama from Trump.


U.S. won't exclude Canada from steel, aluminum tariffs, White House says

"The Trump administration is coming under political pressure at home to exclude Canada from global tariffs on steel and aluminum, and while stating its preference for a hard line it's leaving the door open just the tiniest crack to the possibility of adjustments.
...

A senator of a border state said he's already hearing from businesses at home. Angus King, an Independent senator from Maine, compared Trump's plan to the devastating U.S. tariffs of the 1930s. He said companies in his state fear price increases for steel.

King said any trade actions should be targeted to discourage Chinese dumping — not hit the entire world.

"You want to do these kinds of things with a scalpel — not a chainsaw," King told NBC.

U.S. won't exclude Canada from steel, aluminum tariffs, White House says - Politics - CBC News
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Old 03-04-2018, 05:11 PM
 
Location: Oregon, formerly Texas
5,242 posts, read 3,398,836 times
Reputation: 8783
Quote:
Originally Posted by Lieneke View Post
So much drama from Trump.


U.S. won't exclude Canada from steel, aluminum tariffs, White House says

"The Trump administration is coming under political pressure at home to exclude Canada from global tariffs on steel and aluminum, and while stating its preference for a hard line it's leaving the door open just the tiniest crack to the possibility of adjustments.
...

A senator of a border state said he's already hearing from businesses at home. Angus King, an Independent senator from Maine, compared Trump's plan to the devastating U.S. tariffs of the 1930s. He said companies in his state fear price increases for steel.

King said any trade actions should be targeted to discourage Chinese dumping — not hit the entire world.

"You want to do these kinds of things with a scalpel — not a chainsaw," King told NBC.

U.S. won't exclude Canada from steel, aluminum tariffs, White House says - Politics - CBC News
The President does not have the power to individually target countries with tariffs. The Constitution quite clearly reserves that power for congress in Article I. sec. 8.

The president can only raise blanket tariffs on specific industries by claiming a national security exigency, powers given to the president during the Cold War to deal with the Soviet Bloc which was a broad swath. Otherwise, individual countries can only be targeted specifically by the President if the U.S. is at war with them. There are a few loopholes Trump could use with some laws that date from WWI and the War on Terror to try to specifiy countries... but it would involve declaring them some kind of national security threat. We could do it easily enough now with Afghanistan or North Korea. But I imagine it would not be taken well by China.

Last edited by redguard57; 03-04-2018 at 05:21 PM..
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Old 03-04-2018, 05:45 PM
 
4,752 posts, read 2,180,671 times
Reputation: 4335
Quote:
Originally Posted by redguard57 View Post
The President does not have the power to individually target countries with tariffs. The Constitution quite clearly reserves that power for congress in Article I. sec. 8.

The president can only raise blanket tariffs on specific industries by claiming a national security exigency, powers given to the president during the Cold War to deal with the Soviet Bloc which was a broad swath. Otherwise, individual countries can only be targeted specifically by the President if the U.S. is at war with them. There are a few loopholes Trump could use with some laws that date from WWI and the War on Terror to try to specifiy countries... but it would involve declaring them some kind of national security threat. We could do it easily enough now with Afghanistan or North Korea. But I imagine it would not be taken well by China.
Yes, so much drama. He has said that he will impose tariffs, it must be across the board, national and international response is that it is a mistake, but how can he back down now? The whole world is looking at Trump waiting for him to do the right thing, and yet he cannot without losing face. It's a mess.
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