GM Says It May Reduce US Jobs Because of Tariffs

[Toro]

It just came across the wire.

Trade wars are always a lose-lose proposition.

 

[TNHarley]

Like thats surprising.
Hell they dont need tariffs as an excuse. They didnt use it when we bailed their asses out at an $11B loss. How much did they invest overseas shortly after that?

 

[Brain357]

Tariffs always result in lost jobs.

 

[Toro]

In the end, what tariffs do is make things more expensive and make us poorer.

It saves jobs in the protected industry but costs even more jobs everywhere else since the money that is needed to pay for higher prices of the protected industry isn’t spent elsewhere in the economy. Tariffs make the economy less efficient and poorer. They benefit a select few through government intervention at the cost of everyone else.

Every Econ 101 student knows this. As did Ronald Reagan, Margaret Thatcher, Milton Friedman, and every other conservative economist.

 

[OldLady]

It just came across the wire.

Trade wars are always a lose-lose proposition.

I'm not laughing at the trade war, but at another burn for Trump.

 

[OldLady]

In the end, what tariffs do is make things more expensive and make us poorer.

It saves jobs in the protected industry but costs even more jobs everywhere else since the money that is needed to pay for higher prices of the protected industry isn’t spent elsewhere in the economy. Tariffs make the economy less efficient and poorer. They benefit a select few through government intervention at the cost of everyone else.

Every Econ 101 student knows this. As did Ronald Reagan, Margaret Thatcher, Milton Friedman, and every other conservative economist.

Good thing we all got that tax cut first. I wonder who Trump will blame when the downturn in the economy happens. Don't tell me--China.

 

[Siete]

erasing Trumps bullshit will give the next president something to do in his/her first month.

if you think Trump wore out a pen issuing eo's the stop obama legislation just wait until Goldilocks replacement comes along.

 

[my2¢]

The June employment figures will be out next week. What I've been checking month by month is the figure for manufacturing jobs. The business tax cut had my hopes up while my optimism has been dampened by all this trade/tariff talk. Always heard argument that free trade would boost our economy, the number in the upcoming months should put that to the test. I hope the reports are good, but all we can do is let the chips fall where they may.

https://www.bls.gov/web/empsit/ceshighlights.pdf​

 

[Likkmee]

Maybe JM(JooMotors) can sell the factory to Hyundai so they can open another one there and offer a decent affordable vehicle and less shipping problems

 

[Syriusly]

“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,” Trump’s tweet read. “Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”

 

[Wolfstrike]

I guess another American company that wants money will pick up what gm reduces

 

[harmonica]

well, are the other countries' tariffs unfair or not??
are they putting bigger/more tariffs on us??
are the countries unfair in helping their companies compete against the US?

 

[mikegriffith1]

It just came across the wire. Trade wars are always a lose-lose proposition.

Oh, really? China and the EU have been doing quite well with their fiercely protectionist policies for the last 20 years. But, now that we are finally standing up for ourselves on trade, we're being warned about the dire consequences of a trade war. We've been in a trade war for decades but haven't been fighting back.

Changing the trade paradigm is going to take some adjustment. When you start to protect yourself with high tariffs, yes, some sectors are going to be hurt, because they've been living off the drug of products that are either made in dirt-wage factories and/or that are made by industries that are heavily subsidized by their government.

China has had high tariffs and trade restrictions for decades, and, gee, their growth rate has dwarfed ours for many years now.