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OMG. Talk about going off on a tangent lol
This is an investment thread no?
You are talking about "statistics" and percentage of the tariffs
I am saying that people's perceptions of statistics depends on how it affects THEM and perhaps THEIR company or industry...
Very true .the company I do some work for was supposed to take over a failing pump manufacturer . The tariffs made the pump castings way to expensive to be competitive so they called the deal off .all the employees will be laid off and the company will close
You had to see all the trump supports posting the Atlanta feds 5.40% gdp estimate when it came out .they were thanking trump every day . I tried to tell them that is only a weekly guess and it will be much lower
Tax on consumers in the USA or it's corporations and comparing the big world economy number is a false equivalence. Especially since the consumer in the United States will pay them or be impacted due to slowing sales or supply chain disruptions.
They are especially bad since tariffs will not impact the stated goal of reducing our overall trade deficit nor bring jobs back. In fact, they will cost jobs and be a drain on consumers and companies.
Exactly. More local news on challenges faced by businesses due to tariffs. Nobody at this meeting looks too happy - click on link for pictures and graphs:
Quote:
Higher tariffs cost Wisconsin companies $95 million in August, up 47 percent from a year earlier, according to new data from Tariffs Hurt the Heartland, a business group behind the town hall meetings being held in several cities.
The restaurant industry was part of the discussion because various products, from seafood to stoves, are subject to higher costs from trade wars. It’s tough to pass the additional costs on to consumers through higher prices on the dinner menu, according to Quam.
"Wisconsin consumers are pretty price sensitive. They don't want to see their Friday night fish fry go up a dollar, because that's a big deal," she said.
The typical restaurant operates on only about a 4 percent profit margin, according to Quam.
“Our industry is under a ton of pressure on the pricing side. ... There’s not a lot of room for error,” she said.
[Many manufacturers are saying] that trade wars and tariffs are not only expensive, they could put the brakes on what's been strong economic growth.
GenMet, a metal fabricator in Mequon, says the price it pays for stainless steel has jumped 62 percent since February, and that some metal prices have more than doubled.
The company has passed some, but not all, of the increase on to its customers. “We’ve been sharing the pain with them,” said GenMet President Mary Isbister.
Raw material prices are now unpredictable, and some materials are in short supply, according to Isbister.
“How can you invest in product development when you don’t know, from week to week, what the cost of goods will be? We used to have six months to a year of pricing in place, that we could plan on and forecast around,” she said.
Trump administration tariffs cost Wisconsin companies an extra $54 million this summer. Products subject to Trump administration actions currently in place faced $58 million in tariffs from June through August, compared with just $3.8 million the previous year.
Trade wars have a chilling effect on long-term economic growth and could have the unintended consequence of sending work overseas, according to manufacturers at the town hall meeting.“The uncertainty caused by tariffs and increased prices, and whether or not your customers are going to continue accepting price increases … all ends up in less investment. Eventually it’s going to catch up with us,” Isbister said.
U.S. farmers remain hopeful that new trade deals with Canada and Mexico could help lift them out of a price slump, but the global market remains flooded with agricultural commodities, and tariffs from China and the European Union are making it harder for American farmers to sell their goods overseas.
“An improved agreement with one country is not going to solve the situation,” said Jim Holte, president of the Wisconsin Farm Bureau Federation and one of the town hall panelists.
“My expectation for China is it’s going to take multiple years before we come to any agreement or solution with them. As much as I would love to tell you we could fix this in six months, I don’t believe that’s true,” Holte said.
Manufacturers say they’re looking at every option to mitigate trade war damage, including sourcing products from countries not caught up in the disputes.
Husco International President Austin Ramirez said higher tariffs this year have cost his company more than $1 million a month.
In the long haul, “It’s really impacting our competitiveness and future growth. That’s the scariest part for me,” he said.
There are no near-term positives in this picture and a lot of near-term pain snowballing into potentially much more serious long-term pain as the cumulative effects multiply.
******
And, for the poster upthread, I never said there was a liquidity shortage. I said the issue of liquidity was one that can't be ignored. Liquidity is not an insignificant issue at any time - whether currently a problem or not. El Arian is a smart guy, he's monitoring that issue because it brought the world to its knees in 2008. And, he's beginning to see a tightening. I will never, in what remains of my life, forget that time. Scary as hell. And, yes - today is not that. Nonetheless, those who ignore history are doomed to repeat it. And, yes, interest rates are definitely a factor in liquidity. Lots of calls all over for the Fed to back off, but it doesn't appear it will - at least not for the next six months.
Last edited by Ariadne22; 10-26-2018 at 06:27 PM..
Well, Ariadne, you’re in WI, one of the several states that swung the election. Please share w/us how WI is doing re: the president promises! Should we all buy stocks in WI companies?!
Well, Ariadne, you’re in WI, one of the several states that swung the election. Please share w/us how WI is doing re: Moron’s promises! Should we all buy stocks in WI companies?!
TIA
lol....WI farmer's are being impacted by tariffs as are manufacturers, per news reports. Harley moving production geared to overseas sales out of US to avoid tariffs. Trump, of course, thinks they shouldn't do that and go broke instead when no one overseas buys their product because of high tariffs.
Tax bill has given Kimberly-Clark sufficient MONEY to close at least two WI plants, eliminating 600 jobs. That's what you call MAGA. WI has not been able to mitigate that decision with tax credits. So, last I read, those plants are closing and the jobs are gone - all because of the tax giveaway. Company clearly stated the tax bill gave them the "ability" to do that.
So, yeah, his policies are costing jobs.
Further, several big apartment/office building projects have missed their start dates and are now on hold. Probably more an issue of oversaturation than Trump policies, however.
From what I see in the local paper, some WI companies stock prices are doing quite well - up until the last month or so. Tariffs are a big unknown for most of them.
So someone in the WH floated a balloon to the WSJ about what they want China to do before Trump will discuss tariffs
That wasn't a definite NO and it wasn't attributed to anyone with clout
So it might actually become a "thing" or they might walk it back for any number of reasons--including Trump wanting to get his face in the paper as a "big negotiator"...
Until I see someone really put his neck on the line it is just as likely to happen as not...
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