Announcement

Collapse
No announcement yet.

Trump doubles down: 'Trade wars are good, and easy to win'

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Trump doubles down: 'Trade wars are good, and easy to win'

    It seems That The Trump.. Threw the First Stone.

    https://www.cnbc.com/2018/03/02/trum...sy-to-win.html
    Last edited by Scarren; 02-03-2018, 06:39 AM.

  • #2
    Yep. We had a big Alcoa plant shut down a smelter and lay off 800 people about a year ago. Could not compete with cheap, subsidized imported aluminum. I think Trump has a point, all of our trade deals have been pretty one sided and not in the favor of the US. I'm not an expert on trade, but I hope we don't get into a full scale trade war. I think there are carve outs for some countries but I'm not sure.

    Comment


    • #3
      Originally posted by Scarren View Post
      It seems That the Trump Threw the First Stone.

      https://www.cnbc.com/2018/03/02/trum...sy-to-win.html
      ************************************************** ************************************************** ************************************

      Steel Stocks Whipsawed as Tariffs Are On, Then Off and Then On

      https://www.bloombergquint.com/busin...an-trade-steel

      **********************************

      Then at mid-afternoon came the announcement from Trump that he plans to slap a 25 percent tariff on steel imports and 10 percent on aluminum, sending the market into a frenzy, launching the stocks to session high and sending the rest of the market plummeting. Now the market will look for more details on the policy and how the administration is going to implement it. Trump said he will sign the order sometime next week ..


      Making America Great Again!

      Comment


      • #4
        Well according to common sense, prices on everything made from steel should rise, which will reduce demand, and retaliatory tariffs should appear. Last time this went around it led to a net loss of 200000 jobs due to higher steel prices. EU threatened under bush that it would tariff in particular goods from Florida, which got bush to back out of them.


        Well let see if what didn't work before will work now.

        His only redeeming feature so far has been that he hasn't fucked up the economy, and stock markets have gone to record highs, so if this arrives at the expected conclusion then yea, a major bag of cow manure.

        Comment


        • #5
          When the long hand of history is written Clinton-Bush and Obama will be recorded as a trio of clowns.

          The West cannot lose a trade war with China. We can only win, look at trade defiect

          Comment


          • #6
            If he uses some sense on who is targeted, and how big the tariffs are, then this will be a good thing on balance. If he just slaps on a blanket tariff, it will be a bad thing. For example, steel and aluminum production in Canada is comparable to steel and aluminum production in the US in terms of labor, pollution, and environmental standards. There is no reason for a tariff with them. Mexico and China on the other hand aren't anywhere close to those levels of standards or costs.

            Comment


            • #7
              Originally posted by JimHPTN View Post
              If he uses some sense on who is targeted, and how big the tariffs are, then this will be a good thing on balance. If he just slaps on a blanket tariff, it will be a bad thing. For example, steel and aluminum production in Canada is comparable to steel and aluminum production in the US in terms of labor, pollution, and environmental standards. There is no reason for a tariff with them. Mexico and China on the other hand aren't anywhere close to those levels of standards or costs.
              True this ^^^^^ I know there have been some structural steel hex bolts made in China that failed causing harm to people and structures.

              Comment


              • #8
                Its the secret everyone knew was going to happen.

                Comment


                • #9
                  Originally posted by riderboy View Post
                  Yep. We had a big Alcoa plant shut down a smelter and lay off 800 people about a year ago.
                  Originally posted by JimHPTN View Post
                  For example, steel and aluminum production in Canada is comparable to steel and aluminum production in the US in terms of labor, pollution, and environmental standards.

                  Rio Tinto got into Alcan, a Canadian Aluminium operation and they are crossing fingers, crossing swords, crossing the road, making the sign of the cross and have said some cross words in the hope that tarrifs aren't placed on their 1.4 million tonnes of Canadian aluminium imported into the US. It's already earned them a nearly 2% drop in their stock price.

                  Comment


                  • #10
                    Originally posted by JimHPTN View Post
                    If he just slaps on a blanket tariff, it will be a bad thing .
                    To my understanding, this is the plan.

                    Comment


                    • #11
                      You shouldn‘t put too much emphasis on the effect this has on the stock market. Like you guys use to say: „What goes up, must come down.“

                      But if this helps you (i‘m looking at you, Detroit) and if this means that the steel is produced in the US and not imported from Mexico or some other place, then i wish you good look with that. My prediction goes in a different direction and i hate to see thousands of fellow german steelworkers lose their jobs but this was probably bound to happen anyway.
                      I surely won‘t buy Levis, Harley Davidson and Bourbon anymore (never did).
                      Last edited by Hansinator; 03-03-2018, 12:56 AM.

                      Comment


                      • #12
                        The hidden effect in all this is where the imported steel went anways...It was´nt Mr and Mrs Smith buying some steel at the local Walmart but an an American company making an end product that faces competition on the world market and whose production costs might go up. Or a company that needs a certain strain of quality that simply is´nt delivered by local manufacturers at a reasonable price.

                        Trade wars in a global economy are pretty complex and not easy to win: government saving a steel manufacturer and eventually taking down an auto maker in the process is short term policy.

                        Comment


                        • #13
                          There is a reason why products disappear from the market and to artificially bring them back, isn‘t the best idea. But who knows, man. Who knows...

                          Comment


                          • #14
                            It's interesting to see people who are usually in favour of the free market and who object to government interference in business supporting Trump on this. Tariffs and trade wars will cause price rises for the consumer and cost rises businesses. I don't really see it as a business friendly policy. Particularly as in terms of steel the two biggest sources for the US are the EU and Canada. Mexico is only 4th and China 8th. It's not like he's targeting emerging markets paying a pittence and undercutting US workers.

                            http://www.bbc.co.uk/news/world-us-canada-43264200

                            European Union officials have said they will respond "firmly" if US President Donald Trump presses ahead with his plan for steep global duties on metals.
                            EU trade chiefs are considering slapping 25% tariffs on around $3.5bn (£2.5bn) of imports from the US, Reuters news agency reports.
                            World Trade Organization Director General Roberto Azevedo said: "A trade war is in no one's interests."
                            The rhetoric ramped up as Mr Trump tweeted that "trade wars are good".
                            Originally posted by JimHPTN View Post
                            For example, steel and aluminum production in Canada is comparable to steel and aluminum production in the US in terms of labor, pollution, and environmental standards. There is no reason for a tariff with them.
                            There is if you're pushing a populist policy of "made in the US" and punishing companies for importing goods or materials.

                            Originally posted by javahtmlcss View Post
                            The West cannot lose a trade war with China. We can only win, look at trade deficit
                            Trump is aiming at other Western countries and neighbours.
                            Last edited by Corrupt; 03-03-2018, 01:42 AM.

                            Comment


                            • #15
                              If every other trade block matches trumps tariff s such as EU and china , and they d be more than entitled to , won't the status quo of steel production still continue but at higher prices ? Remember , more people use steel than manufacture it so the cost of higher prices will not be pushed onto lets say china for example , but the American consumer who actually buy the end product .

                              Comment

                              Working...
                              X