Trump imposes Tariffs on Steel and aluminum Imports

[HIMBOB]

Inflation. Rising interest rates. Tariffs. How will anybody be able to buy anything? And what is the procedure here? Even Orrin Hatch called it an attack on the American people. How can such a major policy change without congress? Couldnt this be seen as breaking a treaty? Which congress decides.

National security emergency.

America would consider going to war over people doing this to them.

 

[xcvbn]

Inflation. Rising interest rates. Tariffs. How will anybody be able to buy anything? And what is the procedure here? Even Orrin Hatch called it an attack on the American people. How can such a major policy change without congress? Couldnt this be seen as breaking a treaty? Which congress decides.

Bitcoin and Ether

 

[Big Nasty Edison]

The only thing that will ever save American steel is Americans being willing to make it at the same or lower wages than other countries' workers so we can compete globally in price. Of course that will NEVER happen as American workers in these industries have come to expect a certain standard and anything less is below them. We already see this in workers going "this fast food worker doesn't deserve to make what I make doing my job!" when really the steel workers would need to work for the same as the fast food worker in order for their company to be competitive globally.

 

[Prime Rib]

DOW making a slight comeback.....I still got pretty fucked though.

 

[PolishHeadlock]

This is the first tariff-related campaign promise that Trump is attempting to keep. Props to him for that. Credit where due.

But would much rather see him keeping the promise concerning tariffs on goods manufactured overseas by US owned companies.

As well as striking out against the primary "enemy" relative to globalism's adverse effects on this country it would not cause potential trade war ramifications with other nations.

Didn't he also put tariffs on Solar imports?

 

[JosephDredd]

Hilariously, I googled “Milton Friedman” just now, and saw “Milton Friedman Sahara desert” and I clicked the suggestion out of curiousity - what could Milton have to do with the Sahara desert? Turns out it’s a quote and po and behold - Guess who has a tweet about it?



LITERALLY. A TWEET. FOR EVERYTHING.

Trump is a visionary.

I'm still keeping more of my paycheck thanks to those tax cuts, so I'm happy with Trump keeping his campaign promises. A trade war could really improve things for the better. And we all know Hillary would have started a real war with Europe and China.

 

[Big Nasty Edison]

Didn't he also put tariffs on Solar imports?

Yup.

 

[44nutman]

This is why Donny had 4 bankruptcies in 15 years.
The housing market is getting ready to downtown again and Dum Dum starts a fucking trade war.

 

[Big Nasty Edison]

Where are the Trump supporter regulars to explain how great this is?

@TheComebackKid how is this gonna #MAGA?

 

[Satsui Ryu]

True but not all Trump fans belong to that group that I talked about. They're called alt-right for a reason. It's the hypocrisy that makes me mad.

Not sure if it hypocrisy more as the obsession with getting rid of brown people was far greater than all other policies. They were willing to go with anything as long as we got closer to that ethno-state.

 

[Bunk Moreland]

Bush II investigated possible steel tariffs in the early 2000s (section 232). Investigation came back saying National security was not at risk because on imports. So bush didn’t levy tariffs.

Obama used section 421 to impose tariffs on tires. Nothing to do with national security though. China took us to the WTO on that. WTO disagreed with much of Chiners claims and assertions, all the way to the Appellate Body.

Now you have Trump doing the national security thing just like bush. But in this case the commerce department investigation claims national security is impaired because of steel imports (I’m not sure if it’s ALL steel and aluminum or just certain products like cold rolled, iron/ore). What’s going to be interesting is what countries will be part of the WTO complaint, who will be third party and how the WTO will rule on an article (art. XXI of the GATT National Security Exemption) that has never been addressed before. Tariffs may not necessarily be bad. It’s the very low bar for using the national security exemption which is dangerous. Trump living on the edge.
What a time to be alive.

 

[PolishHeadlock]

Trump really taking it to China here....

https://www.marketwatch.com/story/t...e-hardest-china-is-not-one-of-them-2018-03-01

Like many presidents before him, Donald Trump plans to slap tariffs on foreign steel and aluminum in an effort to protect American jobs and domestic producers. He’s unlikely to have much success.

The U.S. imports four times as much steel as it exports, and imports are on the rise again. While the U.S. imports steel from more than 100 countries, three-quarters come from just eight countries, according to the International Trade Organization.

The top supplier to the U.S. in 2017 was Canada, followed by Brazil, South Korea, Mexico and Russia. Other notables include Turkey, Japan, Taiwan and Germany.

China is just outside the list at No. 11 despite producing about half of the world’s steel. The U.S. already has restrictions in place on Chinese steel.

So much for the talking point about China flooding us with cheap steel

 

[jk7707]

Shit! Better start stocking up on Bud Light now!

 

[HIMBOB]

It's an interesting situation even if you ignore retaliatory actions.

Wants to grow US manufacturing then taxes 2 of its biggest inputs.

 

[curryjunkie]

he should not have treated the US economy like one of his friday night hookers, that was the wrong thing to do.

 

[Bunk Moreland]

Trump really taking it to China here....

https://www.marketwatch.com/story/t...e-hardest-china-is-not-one-of-them-2018-03-01

Like many presidents before him, Donald Trump plans to slap tariffs on foreign steel and aluminum in an effort to protect American jobs and domestic producers. He’s unlikely to have much success.

The U.S. imports four times as much steel as it exports, and imports are on the rise again. While the U.S. imports steel from more than 100 countries, three-quarters come from just eight countries, according to the International Trade Organization.

The top supplier to the U.S. in 2017 was Canada, followed by Brazil, South Korea, Mexico and Russia. Other notables include Turkey, Japan, Taiwan and Germany.

China is just outside the list at No. 11 despite producing about half of the world’s steel. The U.S. already has restrictions in place on Chinese steel.

So much for the talking point about China flooding us with cheap steel

This China shit is all driven by Navarro, who just got promoted, and Lighthizer, a former steel lobbiest himself. BS.

 

[Bunk Moreland]

Didn't he also put tariffs on Solar imports?

Yes, but technically no. Those tariffs are not part of the Harmonized tariff schedule yet.

 

[ShoelessRye]

He won't go through with this, he's just spouting off again and will be reined in in short order. Wants to change the subject from Kushner and Hicks (and now McMasters)...

 

[Bunk Moreland]

He won't go through with this, he's just spouting off again and will be reined in in short order. Wants to change the subject from Kushner and Hicks (and now McMasters)...

I just saw that. Oofff lol

 

[Prime Rib]

He won't go through with this, he's just spouting off again and will be reined in in short order. Wants to change the subject from Kushner and Hicks (and now McMasters)...

I pray you are right.