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Thanks for this. Interesting information! It seems like the geopolitical foes of the U.S are not really going to feel this. Putin and Jinping are probably sharing a toast right now as the relationship between stalwart allies in the west crack... Sad.
Is he? Or maybe he knows exactly what he's doing which is actually a scary prospect.
Trump announces the United States is going to relaunch it's steel & aluminum production, and you think China & Russia are celebrating?
This is true. Canada is not guilty of poor labour laws. What Trump is proposing could result in a breakdown of NAFTA talks, Canada seeking stable trade partners, and a higher cost of living to people in the United States.
It is a colossal blunder on behalf of Trump. His posturing and "in the moment" thinking with less than 140 letters of the alphabet is having global consequences. People in the USA are lost in social media, false information perpetrated by the government (i.e.: fake news, propaganda), completely oblivious to consequences of his decisions on their day to day quality of life.
- NAFTA talks have already broken down. These tariffs are the last warning before the plug is pulled.
- Canada is more than welcome seek any trade partner they want. That's what free trade is. Once NAFTA's done and they can no longer slide foreign products through the NAFTA back door into the US, how attractive will Canada be as a trade partner to China? How much leverage will they have at the negotiating table?
- With unemployment at it's lowest rate since the 1960's and wages rising at their fastest rate in 10 years (and expected to increase in 2018), Americans can afford to pay a bit more temporarily as we resuscitate our steel industry to meet full production needs.
- Trump campaigned on this & has been talking about it publicly for decades. If you think this is spur-of-the-moment, you haven't been paying attention.
- The Russians have been flooding social media with propaganda AGAINST the tariffs. The last thing they want is a self sufficient US steel industry & roaring economy. Much of the negative things you've been hearing about these tariffs may in fact be Russian propaganda so be careful what you let yourself fall for. Remember, the Democrats have been calling for an end to these unfair trade deals for decades. They say they hurt the US worker, unions and the country. Ask yourself why suddenly, you're against these things? Maybe you've been Russian trolled one-too-many-times.
- NAFTA talks have already broken down. These tariffs are the last warning before the plug is pulled.
- Canada is more than welcome seek any trade partner they want. That's what free trade is. Once NAFTA's done and they can no longer slide foreign products through the NAFTA back door into the US, how attractive will Canada be as a trade partner to China? How much leverage will they have at the negotiating table?
we export and import steel to China, they are our ally but I guess that means nothing to this administration.
Quote:
Originally Posted by Mason3000
- With unemployment at it's lowest rate since the 1960's and wages rising at their fastest rate in 10 years (and expected to increase in 2018), Americans can afford to pay a bit more temporarily as we resuscitate our steel industry to meet full production needs.
That might be true if wages were increasing significantly but they aren't. A 2.9% wage increase is not going to pay for the higher prices due to tariffs imposed by many countries in retaliation for this 'grand plan'
Quote:
Originally Posted by Mason3000
- Trump campaigned on this & has been talking about it publicly for decades. If you think this is spur-of-the-moment, you haven't been paying attention.
All he does is talk, and he says whatever he thinks people will like and then usually does the complete opposite.
Quote:
Originally Posted by Mason3000
- The Russians have been flooding social media with propaganda AGAINST the tariffs. The last thing they want is a self sufficient US steel industry & roaring economy. Much of the negative things you've been hearing about these tariffs may in fact be Russian propaganda so be careful what you let yourself fall for. Remember, the Democrats have been calling for an end to these unfair trade deals for decades. They say they hurt the US worker, unions and the country. Ask yourself why suddenly, you're against these things? Maybe you've been Russian trolled one-too-many-times.
Oh I dunno maybe it's not Russian trolling but the fact that they will be impacted by the tariff too, dontcha think? They are the fifth largest exporter of steel to the US and the second largest exporter of aluminum https://www.voanews.com/a/top-us-imp...m/4277212.html
- NAFTA talks have already broken down. These tariffs are the last warning before the plug is pulled.
- Canada is more than welcome seek any trade partner they want. That's what free trade is. Once NAFTA's done and they can no longer slide foreign products through the NAFTA back door into the US, how attractive will Canada be as a trade partner to China? How much leverage will they have at the negotiating table?
- With unemployment at it's lowest rate since the 1960's and wages rising at their fastest rate in 10 years (and expected to increase in 2018), Americans can afford to pay a bit more temporarily as we resuscitate our steel industry to meet full production needs.
- Trump campaigned on this & has been talking about it publicly for decades. If you think this is spur-of-the-moment, you haven't been paying attention.
- The Russians have been flooding social media with propaganda AGAINST the tariffs. The last thing they want is a self sufficient US steel industry & roaring economy. Much of the negative things you've been hearing about these tariffs may in fact be Russian propaganda so be careful what you let yourself fall for. Remember, the Democrats have been calling for an end to these unfair trade deals for decades. They say they hurt the US worker, unions and the country. Ask yourself why suddenly, you're against these things? Maybe you've been Russian trolled one-too-many-times.
Shrug. I am not opposed to tariffs on principle. Our existing tariffs have been imposed with barely a peep from me.
I just don't get the rationale for this one. The complaint has been that China - specifically - has been dumping steel. So we're going to impose tariffs on all steel/aluminum, whether it comes from a country that dumps steel or from countries that we don't view as "cheaters"? And we're going to hollow out the larger US manufacturing sector for the sake of the smaller steel mill sector? I'm really not sure what that nets us.
The proposed tariffs apply only to "raw" steel/aluminum. They do not apply to imported goods made with foreign steel/aluminum. So these tariffs WILL NOT affect "foreign products (sliding) through the NAFTA back door into the US". In fact, it's possible they'll increase this trade, since US companies making these goods will be disadvantaged by the higher costs they will pay for "raw" steel/aluminum.
- NAFTA talks have already broken down. These tariffs are the last warning before the plug is pulled.
- Canada is more than welcome seek any trade partner they want. That's what free trade is. Once NAFTA's done and they can no longer slide foreign products through the NAFTA back door into the US, how attractive will Canada be as a trade partner to China? How much leverage will they have at the negotiating table?
- With unemployment at it's lowest rate since the 1960's and wages rising at their fastest rate in 10 years (and expected to increase in 2018), Americans can afford to pay a bit more temporarily as we resuscitate our steel industry to meet full production needs.
- Trump campaigned on this & has been talking about it publicly for decades. If you think this is spur-of-the-moment, you haven't been paying attention.
- The Russians have been flooding social media with propaganda AGAINST the tariffs. The last thing they want is a self sufficient US steel industry & roaring economy. Much of the negative things you've been hearing about these tariffs may in fact be Russian propaganda so be careful what you let yourself fall for. Remember, the Democrats have been calling for an end to these unfair trade deals for decades. They say they hurt the US worker, unions and the country. Ask yourself why suddenly, you're against these things? Maybe you've been Russian trolled one-too-many-times.
You had my attention until the Russian thing. Although there may be a Russian Conspiracy explanation for everything that happens in the USA, the rest of the world is on a different wave length; with many simply thinking for themselves.
If a tariff is applied to an imported product, someone has to pay. The government gets the tariff, the consumer pays more for metal products, and at best metal exporters reduce costs with automation and staff reduction. The new role of the USA as an isolationist country rather than a world leader hurts everyone, yet Trump's disciples are pre-programmed to doubt reality and assign negative feedback to Russian propaganda.
The U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum, the president said. It is unclear whether they will apply to all imports or only metals from certain countries.
"That could really spook the market," said Marc Chaikin, CEO of Chaikin Analytics. "The biggest wildcard would be a trade war and nobody should be excited for that." Chaikin also noted some of the pressure seen in stocks is in response to the news on tariffs.
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.
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.
I believe the poster mean't Canada when he mentioned both buying and selling steel with that country.
I did, thanks!
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