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Clearly you didn't read the article. Let me Fox news it for you.
They've made $600M because Canadian suppliers increased their prices by the tariff amount in March when Cheeto vonTinyhands came up with his grand plan. The increased price has already amounted to $600m in additional profits.
Ownership of Canadian smelters is primarily Alcoa (American) Rio Tinto (Australian) or Quebec investment firms.
Solution, lower electric costs and reopen plants. That's awesome. Fixing healthcare is easy too, right?
Did you skip the part where 100% of all these costs are going to be passed on to American consumers? i.e. you and me?
So they increased prices before the tariffs went into place? That doesn't seem very friendly does it?
Yes, correct. These are not Canadian aluminum corporations. They're multinational corporations taking advantage of a loophole in a poorly designed trade agreement called NAFTA.
Lowering electric costs, is a great idea. Trump has already begun the process of addressing our artificially inflated electric costs by rolling back unnecessary regulations, reopening coal plants, fracking, etc. Reopening these plants is a simple fix. If we implement tariffs on multinational corporations importing steel from Canada, then they will move to the U.S., but the old smelting plants, just like they did in Canada & produce the aluminum here. That means construction, that means jobs, tax revenue, as opposed to none of those things.
No, not like that at all. Mercedes Benz building a factory in North Carolina benefits the U.S. because they pay taxes, hire workers, build infrastructure & have to us 75% U.S. made components in the cars they produce.
NAFTA was designed to facilitate trade between US, Canadian & Mexican companies. That's why we have the tariff exemption, not so that the multinational corporations (that the left bizarrely has adopted to defend) can build satellite plants in order to avoid paying the agreed upon import tariffs. It's mind boggling how you will defend these multinational corporations to the end, even at the expense of the US worker, middle class & unions. This has been one the main planks of the liberal/democratic platform for the past 30 years. Bernie Sanders & Elizabeth Warren both campaigned on renegotiating NAFTA and even they support Trump on this issue.
I'm not liberal or conservative on this. I'm anti-moron. EVERY company of size is a multinational with the exception of mom-and-pop shops. If you think that all American made cars have 75% US made parts, I have a President to sell you. Harley Davidson's aren't even 75% American.
Three vehicles. Three, are over 70%. Ironically, they're by the dirty multinational FCA, which is majority owned by Italians, so I guess their production doesn't actually count as American in your world.
I mean that couldn't possibly have to do with all of the kickbacks Trump and his family has been getting from the Chinese government, could it? Many Republicans in Congress don't even understand what in the hell Trump is doing.
This guy is destroying the reputation of the country in order to make sure he and his family line their pockets in the process. Putin elected the perfect Manchurian Candidate.
While I disagree with tariffs on Canada and, perhaps, Mexico, the rest of your post is utter, maniacal nonsense. The stuff of psychiatric evaluations! Seek help before it is too late.
I bring the pancakes I "manufactured" with the raw materials I bought from Shoprite to Stop and Shop to sell them to the store so I can be flat on my trade with supermarkets.
Doing my part to ease trade deficit and bring back manufacturing jobs...esp since SnS is a dutch company- I'm sticking it to the EU.
Also working on a new bilateral trade agreement with PF Changs....
Awesome. Careful, I hear PF Changs has problems stealing IP. Also, you should be running a surplus, if your cost of raw materials equals your selling price. You need to increase that labor value.
So they increased prices before the tariffs went into place? That doesn't seem very friendly does it?
Yes, correct. These are not Canadian aluminum corporations. They're multinational corporations taking advantage of a loophole in a poorly designed trade agreement called NAFTA.
Lowering electric costs, is a great idea. Trump has already begun the process of addressing our artificially inflated electric costs by rolling back unnecessary regulations, reopening coal plants, fracking, etc. Reopening these plants is a simple fix. If we implement tariffs on multinational corporations importing steel from Canada, then they will move to the U.S., but the old smelting plants, just like they did in Canada & produce the aluminum here. That means construction, that means jobs, tax revenue, as opposed to none of those things.
Clearly it's not friendly when your closest ally bends you over for a fabricated tariff.
If you truly believe it's that simple, bless your heart. It's just a shame your vote is the equal of someone elses.
Back in April, President Trump slapped tariffs of around 20 percent on the Canadian softwood lumber industry. At the time, I wrote that it would cause lumber prices to rise, citing estimates that prices could increase by around 6.4 percent. Well, it turns out I was wrong, and lumber prices have not risen by around 6 or 7 percent. Instead, they’ve risen by much more since the spring—as much as 25 percent.
The lumber rally picked up steam after the U.S. in November imposed average import duties of 21 percent on Canadian shipments of timber following a years-long trade dispute.
Those pennies the tax break gave are disappearing fast.
Awesome. Careful, I hear PF Changs has problems stealing IP. Also, you should be running a surplus, if your cost of raw materials equals your selling price. You need to increase that labor value.
If I agree to allow ZTE to plant a chip in my brain to monitor my every thought they will buy every afghan I can knit and will sell me Moo Goo Gai Pan at a loss for 2 years.
Is there a Chinese owned steel or aluminum company in Canada?
I'm not sure. It's all available online though. Important to remember this is not the only measure of steel or aluminum. What about plants that assemble motors that go into cars? What about plants that use Chinese aluminum to fabricate semi-conductors? etc. etc.
I simply can't understand how the left championed renegotiating unfair trade deals like NAFTA that hurt American manufacturing, the middle class and unions for the past 30 years & then did a 180' on it, instead siding with the corporations, just because Trump is making it happen? It's the GOP establishment that's trying to shut down the tariffs because they're all owned by the corporations. Bernie Sanders, Elizabeth Warren & Jill Stein all campaigned on renegotiating NAFTA and imposing sanctions on China (and others).
CNN: "Senator Bernie Sanders promised to impose tariffs on China "until they stop dumping steel into the United States" during his 2016 presidential campaign"
If I agree to allow ZTE to plant a chip in my brain to monitor my every thought they will buy every afghan I can knit and will sell me Moo Goo Gai Pan at a loss for 2 years.
Careful, there may be sanctions on the afghan, as it sounds like Afghanistan, and is next to Iran, which sounds like I ran, which Cheeto HATES.
ZTE are good guys though, the best. Top people, so everything should be fine. I'd hold out for the Walnut Shrimp though.
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