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Old 06-02-2018, 04:55 PM
 
1,760 posts, read 581,258 times
Reputation: 1786

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Quote:
Originally Posted by luv4horses View Post
It appears simply to be a personal vendetta. There is no benefit to world trade and especially none to the US economy, once you consider that the other countries will now need to create their own tariffs on US stuff. And the money that is the tariff fee does not benefit any industry, just whoever pockets the fees. It is all wasted money that does not get used to produce goods.
Than why does every other country in the world charge large tariffs? Because it's a good way to protect jobs while generating revenue, it's basically just a tax. I don't like it because it's a form of corporatism for the industries looking for protection and will be inflationary. But I do not hate them as a negotiating tool. If He's going to use them/the threat of them to gain more/cheaper access to other markets I'm all for it. I trust his negotiating skills here. We have a 20 trillion dollar economy growing at 4% right now we have MASSIVE leverage we should use that to our advantage. A single tariff can throw these smaller economies into a recession, they have to play ball. Larger economies like China and Germany should be giving us the same access to their markets as we afford them. Part of the reason they don't is because our private enterprise is more competitive than theirs. We're do pretty much everything better than them.
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Old 06-02-2018, 05:54 PM
 
Location: Northern panhandle WV
2,250 posts, read 1,745,861 times
Reputation: 4553
I now live in a former steel town in WV and I hope to HEXX that no one decides to try to open up steel production here again. Of course we know that Trump cares nothing for the enviornment .
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Old 06-02-2018, 09:57 PM
 
191 posts, read 89,422 times
Reputation: 744
Quote:
Originally Posted by caco54 View Post
Spent 37 years in the "metals business" these tariffs/duties will raise the price of metals in the US and create no new jobs. Now other countries will have access to lower cost metal which they will fabricate and sell in the US. The fabrication market is where the jobs are.

Trump doesn't have a clue on this issue. He is acting like a "bully", strategy won't work.
I wonder WHO buys the scrape iron / steel from the yards
I wonder WHO loads it onto ships where these raw materials go overseas
I wonder WHO turns those materials back into metals that get loaded back onto ships to the US
And after factoring in all those logistic costs still manages to make a profit.
I wonder WHO decided US Steel would be better as a mascot Football Team
Gives new meaning to the crying towel

Its about trade IMBALANCE measured in the BILLIONS. Each and EVERY YEAR
Only made worse by the EU and three different administrations for decades

Don't like the Tariff protectionism, well come back and gloat in a year if the "bully"strategy doesn't work.

Or Hide & Watch
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Old 06-02-2018, 10:10 PM
 
572 posts, read 448,737 times
Reputation: 890
Everyone needs to look at this in a long-term way. You cant have a thriving economy importing everything. You need people with the wages to buy stuff.
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Old 06-03-2018, 10:36 AM
 
5,046 posts, read 3,330,095 times
Reputation: 4868
Quote:
Originally Posted by notrhj View Post
I wonder WHO buys the scrape iron / steel from the yards
I wonder WHO loads it onto ships where these raw materials go overseas
I wonder WHO turns those materials back into metals that get loaded back onto ships to the US
And after factoring in all those logistic costs still manages to make a profit.
I wonder WHO decided US Steel would be better as a mascot Football Team
Gives new meaning to the crying towel

Its about trade IMBALANCE measured in the BILLIONS. Each and EVERY YEAR
Only made worse by the EU and three different administrations for decades

Don't like the Tariff protectionism, well come back and gloat in a year if the "bully"strategy doesn't work.

Or Hide & Watch

It won't work. That is obvious to anyone with half a brain.


US is falling behind Canada because US companies would rather shutter plants then invest money in new facilities/equipment.



It's not that America is disadvantaged to the rest of the world in manufacturing, it's that it doesn't want to spend the money on infrastructure to keep up. They're too focused on their next quarterly earnings then investing money in modernizing their plants to get costs down (outside of slashing jobs/factories which is a circling the barrel tactic).


If I were Alcoa or US Steel I'd suspend the dividend for a few years/drastically cut it and build new facilities in areas with cheap electricity. None of those CEOs have the gonads to do so.
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Old 06-03-2018, 01:34 PM
 
Location: Raleigh NC
7,758 posts, read 6,114,541 times
Reputation: 6883
Quote:
Originally Posted by LordSquidworth View Post
It won't work. That is obvious to anyone with half a brain.


If I were Alcoa or US Steel I'd suspend the dividend for a few years/drastically cut it and build new facilities in areas with cheap electricity. None of those CEOs have the gonads to do so.
ALCOA hasn't paid a dividend in 2 years. It's stock has done great since 2009, but it's still trading at a 55 P/E ratio. It's been 20 years since I paid that close of attention to the P/E ratio (and maybe it's completely inconsequential now) ... but 55 for a "blue chip commodity-manufacturing company" is really high.

US Steel is operating at a 13 PE, but is only up to its 2005 price. With a 1/2% dividend yield, nobody's gotten rich off holding that investment.
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Old 06-03-2018, 01:44 PM
 
3,579 posts, read 2,017,127 times
Reputation: 3314
We in the construction industry are pretty worried about this. Some projects will not go forward. The only question is how many, and how many people will lose their jobs.
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Old 06-03-2018, 03:18 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,392 posts, read 50,582,032 times
Reputation: 28622
Go to the local grocery and look at the prices of aluminum foil. We bought some yesterday, and it was about double what we paid about a year ago, at almost $7.
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Old 06-03-2018, 03:30 PM
 
5,046 posts, read 3,330,095 times
Reputation: 4868
Quote:
Originally Posted by BoBromhal View Post
ALCOA hasn't paid a dividend in 2 years. It's stock has done great since 2009, but it's still trading at a 55 P/E ratio. It's been 20 years since I paid that close of attention to the P/E ratio (and maybe it's completely inconsequential now) ... but 55 for a "blue chip commodity-manufacturing company" is really high.

US Steel is operating at a 13 PE, but is only up to its 2005 price. With a 1/2% dividend yield, nobody's gotten rich off holding that investment.
Their issues are decades old.

I pay zero attention to the industry stocks as none of them are competitive in the US.
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Old 06-03-2018, 03:44 PM
 
19,038 posts, read 10,694,254 times
Reputation: 5832
Quote:
Originally Posted by cttransplant85 View Post
Than why does every other country in the world charge large tariffs? Because it's a good way to protect jobs while generating revenue, it's basically just a tax. I don't like it because it's a form of corporatism for the industries looking for protection and will be inflationary. But I do not hate them as a negotiating tool. If He's going to use them/the threat of them to gain more/cheaper access to other markets I'm all for it. I trust his negotiating skills here. We have a 20 trillion dollar economy growing at 4% right now we have MASSIVE leverage we should use that to our advantage. A single tariff can throw these smaller economies into a recession, they have to play ball. Larger economies like China and Germany should be giving us the same access to their markets as we afford them. Part of the reason they don't is because our private enterprise is more competitive than theirs. We're do pretty much everything better than them.
Where are you finding that EVERY OTHER COUNTRY IN THE WORLD CHARGES LARGE TARIFFS? Where are you getting your information?
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