President Trump announces new tariffs: 25% for steel, 10% for aluminum

[Moonglow]

If you haven't figured out Donald Trump's negotiation strategy yet, let me spell it out for you. His first move is ALWAYS over the top. That establishes a threshold from which he negotiates down giving his adversary the feeling they have won when he ends up getting the deal he wants.

Does this mean that we should all thank god that we can't believe a word he says?

No, what it means is he a brutally tough negotiator and understands the psychology of the deal better than anyone. We should all thank god he is negotiating on our behalf.

As in Far East steel makers with existing plants in the US skyrocketed last night on the news of the tariffs. Savings from Japan, China, South Korea will pay to build plant and equipment in the US to bypass the tariffs. Borrowing Yen at a slight premium to the BOJ's 0.11% interest rate and similar stories throughout the Far East means a lot ($1-10T) of construction wages each year until the foreign direct investment plays out and a wage annuity about 5x the investment paid by the rapidly aging Far East. True most of that construction will be done with even more heavily subsidized steel from Canada and Mexico until those countries run out of money/have a massive taxpayers revolt.Cry me a river about that too.

Tell that to the US gaming industry that died many years ago due to Japan subsidizing the industry driving all US companies out of business in the 1990's...Same with the animation industry....

I never realized that all the casinos in Vegas had shut down.

Just the Trump ones....

 

[william the wie]

The Wall Street underwriters have big problems. Stimulating FDI (Foreign Direct Investment) means that a lot of the nice fat fees they are used to getting will happen in foreign capital markets and in non-dollar currencies to boot.

 

[Syriusly]

he just fullfilled another campaign promise!

https://www.washingtonpost.com/news...num-imports/?tid=ss_tw&utm_term=.901513c38611

Actually his campaign promise- among others was a huge tariff on China.

Note how the markets tumbled do this announcement?

Between this and the threatened cancellation of NAFTA- this could get really ugly quick.

But you are right- this is what his voters wanted- a trade war with the rest of the world.

Can you quote Trump saying he was going to impose huge tariffs on China? . . . . . . . . . . . . . . . . . .

I didn't think so.

Is Brip a partisan idiot? I think so

Donald Trump Says He Favors Big Tariffs on Chinese Exports

Donald J. Trump said he would favor a 45 percent tariff on Chinese exports to the United States, proposing the idea during a wide-ranging meeting with members of the editorial board of The New York Times.

 

[Moonglow]

The right seems oddly silent after what the president did for gun control and the tariff....

Imagine having to defend Crazy Orange Ivan LOL
Take a peek at this slack jaw drooler
During an interview on Thursday’s edition of Fox & Friends, Rep. Louie Gohmert (R-TX) suggested that former FBI director Jim Comey’s harsh treatment of Hillary Clinton in the weeks leading up to the 2016 election is evidence that he was actually in the bag for her.

He certainly had no problem announcing his support for the Clintons for the past 25 years....Bill liked his tiny hands in his pockets...

 

[TomParks]

Hopefully it's just the start of things to come.....time to tighten the screw a bit

 

[Moonglow]

The Wall Street underwriters have big problems. Stimulating FDI (Foreign Direct Investment) means that a lot of the nice fat fees they are used to getting will happen in foreign capital markets and in non-dollar currencies to boot.

I have been told for years while doing preventive maintenance...Don't fix it if it ain't broken.....

 

[bripat9643]

Yeah, all we have to do is look around our homes to see how many things we count on to live are made with steel or aluminum and their bi-products. The list is never ending. Not to mention the things we buy that come packaged in those materials and we just dispose of like cans etc. The idea that trump sees this as a way to leverage China is ludicrous.

Especially since we get next to none of our steel from China. Trump just declared a trade war with Canada and Brazil and is too stupid to know it.

Yeah, but is this just another bad idea from him ad hoc or is there something of personal value for him in this move? With Trump, it's always a factor. I'm sure the press will weed it out. Thank goodness for the fourth estate. He tries every day to disgrace them and to erode people's confidence in them but they keep pluggin' along. In the end they will play a pivotal role in his downfall. He can hate on them all he wants and it only serves to strengthen their resolve. Same is true of Mueller and his team. I just hope moves like this latest blunder won't take us all down first. Stupid ass. "Let's alienate all of our allies!"

The Gushers Will Become Tricklers

If they continue with their snooty anti-Americanism, soon jurinalists won't have a pot to piss in.

Piss on crazy Orange Ivan Trump
For a businessman, he has no idea how the market works. ~ Amy R


Stock market drops after Trump announces tariffs
The Dow declined nearly 400 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports next move.
money.cnn.com

As of right now, the down is down 631 points since the Trump tariff announcement.

What's "the down?"

 

[Moonglow]

Hopefully it's just the start of things to come.....time to tighten the screw a bit

Tighten the belt another notch....

 

[TomParks]

I guess you simply don't have the mental capacity to see the big picture.

A car is not the biggest thing with steel, dope. How about bridges and skyscrapers. How much cost do you imagine is added for those?

Trump wants to do infrastructure but just upped the price tag considerably. Truly dumb.

It's the biggest thing that most consumers buy. Steel makes up a significant percentage of the composition of some buildings, but concrete is the major material used in building, and labor is the biggest cost. Most bridges are built primarily with concrete these days. The industry has moved away from steel because it needs to be painted constantly and is therefor a maintenance headache.

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

 

[Moonglow]

It's the biggest thing that most consumers buy. Steel makes up a significant percentage of the composition of some buildings, but concrete is the major material used in building, and labor is the biggest cost. Most bridges are built primarily with concrete these days. The industry has moved away from steel because it needs to be painted constantly and is therefor a maintenance headache.

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

No it won't when he announces that all imports will have a consumption tax added, except Trump Enterprise imports....

 

[TyroneSlothrop]

It's the biggest thing that most consumers buy. Steel makes up a significant percentage of the composition of some buildings, but concrete is the major material used in building, and labor is the biggest cost. Most bridges are built primarily with concrete these days. The industry has moved away from steel because it needs to be painted constantly and is therefor a maintenance headache.

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

‘Stick to laundering Russian money’: Trump commerce secretary mocked over bizarre soup can TV segment
Trump Commerce Secretary Wilbur Ross on Friday went on CNBC to defend President Donald Trump’s newly announced plans to slap tariffs on foreign steel and aluminum — and he drew widespread ridicule for his boast about buying a can of Campbell’s Soup.

 

[Moonglow]

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

‘Stick to laundering Russian money’: Trump commerce secretary mocked over bizarre soup can TV segment
Trump Commerce Secretary Wilbur Ross on Friday went on CNBC to defend President Donald Trump’s newly announced plans to slap tariffs on foreign steel and aluminum — and he drew widespread ridicule for his boast about buying a can of Campbell’s Soup.

Odd as it reminds me of Onion material...

 

[TyroneSlothrop]

EU targets Harley Davidson, Levi's in Trump trade war
Source: Agence France-Presse

The EU is drawing up retaliatory measures against leading US brands such as Levi's and Harley Davidson after US President Donald Trump threatened a trade war with plans for tariffs on steel and aluminium, European Commission chief Jean-Claude Juncker said Friday.

But a top EU trade official said Trump still has a small chance to avoid a damaging global trade war and asked the US leader to reconsider his aims before he signed them into effect next week.

"We will not sit idly when European industry and jobs are threatened," European Commission chief Jean-Claude Juncker said on the sidelines of a conference in Hamburg, Germany.

"The EU is preparing import duties for US products including Harley-Davidson, Bourbon and Levi's jeans," his spokeswoman quoted him as saying on Twitter.”
Read more: EU targets Harley Davidson, Levi's in Trump trade war

 

[busybee01]

President Trump announces new tariffs: 25% for steel, 10% for aluminum

Good, lord. So rather than putting a tariff on value-added products, finished goods, he taxes raw materials, thus ensuring that the economic impacts of the tariff flows through the entire supply chain. That's brilliant. NOT!!! It's flat-out stupid.

Effects of a Tariff: Large Country

​

When a large importing country implements a tariff it will cause an increase in the price of the good on the domestic market and a decrease in the price in the rest of the world. But since Trump wants to impose the tariff on raw materials, it'll raise not only the price of steel and aluminum in the U.S., but also the price of everything made from that steel and aluminum.

As for who will bear the incidence of the tax/tariff, well, that depends on the elasticity of demand and the elasticity of supply for each given product class, and in some instances, each differentiable product.

Hey pinhead.....China has been dumping below-cost steel and other metals on us for over a decade. Not only will it not raise prices, it will lower prices due to increased volume by American producers. All your charts and graphs prove is that you don't understand the impact of tariffs. China can't pay both shipping costs and a 25% duty on their items without raising their price above American steel and aluminum.

You are the pinheaded moron as you clearly do not understand how tariffs work. American producers will not increase production. They will raise prices. That will cause either one of 2 things. Steel users will either raise prices or cut workers. Idiotic Trump supporters like you are sickening.

 

[busybee01]

"The President is proposing a massive tax increase on American families. Protectionism is weak, not strong. You'd expect a policy this bad from a leftist administration, not a supposedly Republican one." - Supercilious Ben Sasse

"i don't know that President Trump should apologize to anyone for protecting American workers and certainly not to Senator Sasse" - Sarah Hogan Sanders

Sarah Hogan Sanders is a lying bitch. She claims to be a Christian but is a hypocrite. The fact is that Trump threw over 99% of Americans under the bus.

 

[busybee01]

Same never trump cocksuckers still at it I see......Trump is shoring up the union vote you know what democrats did years ago when they actually cared about Americans

He is throwing everyone else under the bus for politics. That is disgusting as you are.

 

[Sahba]

President Trump announces new tariffs: 25% for steel, 10% for aluminum

Good, lord. So rather than putting a tariff on value-added products, finished goods, he taxes raw materials, thus ensuring that the economic impacts of the tariff flows through the entire supply chain. That's brilliant. NOT!!! It's flat-out stupid.

Effects of a Tariff: Large Country

​

When a large importing country implements a tariff it will cause an increase in the price of the good on the domestic market and a decrease in the price in the rest of the world. But since Trump wants to impose the tariff on raw materials, it'll raise not only the price of steel and aluminum in the U.S., but also the price of everything made from that steel and aluminum.

As for who will bear the incidence of the tax/tariff, well, that depends on the elasticity of demand and the elasticity of supply for each given product class, and in some instances, each differentiable product.

Hey pinhead.....China has been dumping below-cost steel and other metals on us for over a decade. Not only will it not raise prices, it will lower prices due to increased volume by American producers. All your charts and graphs prove is that you don't understand the impact of tariffs. China can't pay both shipping costs and a 25% duty on their items without raising their price above American steel and aluminum.

You are the pinheaded moron as you clearly do not understand how tariffs work. American producers will not increase production. They will raise prices. That will cause either one of 2 things. Steel users will either raise prices or cut workers. Idiotic Trump supporters like you are sickening.

It is likely to result in more US steel jobs simply due to expansion (but not a whole lot more jobs). Prices are going up, put that on the list with 'death & taxes'. That 1-2 K that you got back in your returns just got gobbled up & it's going to effect just about everyone; not just those buying a new F150 or putting an addition on their homes...

 

[william the wie]

It's the biggest thing that most consumers buy. Steel makes up a significant percentage of the composition of some buildings, but concrete is the major material used in building, and labor is the biggest cost. Most bridges are built primarily with concrete these days. The industry has moved away from steel because it needs to be painted constantly and is therefor a maintenance headache.

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

It's the biggest thing that most consumers buy. Steel makes up a significant percentage of the composition of some buildings, but concrete is the major material used in building, and labor is the biggest cost. Most bridges are built primarily with concrete these days. The industry has moved away from steel because it needs to be painted constantly and is therefor a maintenance headache.

You do understand that there is steel in the concrete, right?

ROFL. Yeah, it's about 10% steel by volume.

You just refuse to see the big picture. you asked me to explain the cummulative effect and then totally ignore the answer. Here's a short list of things that will go up in price. Computers (cases) printers, lamps, Cameras, scanners, tv's, appliances, cars, wire, cans, stereos, ipods, guns (you'll like that one) There are more things in your home that contain these materials than those that don't. Tariffs are by their very nature inflationary and we can see that Markets are responding negatively on this news. It's a bad idea, period. I think I just wasted more of my time trying to get you to understand. Right?

As I have explained, the price of these items will increase by a fraction of 1%. That's hardly going to cause an economic collapse or impose a hardship on anyone. It's far less onerous or harmful than Obama's "Clean Power Plan" would have been, but all you snowflake morons defended that.

Investors always overreact to any kind of news that might affect the stock market. The drop that occured when Trump made his anouncement is temporary.

Yeah it's temporary but will be fun once the market goes up again to see the lefts reaction....according to liberals the sky is falling

Well in a sense it is, at least for the left. The left went all in on slow growth being the new normal. Slow growth means low interest rates, real estate appreciation and cheap labor being replaced entirely by automation. This in turn creates an aristocracy masquerading as a wide open meritocracy. This is covered up with flat out lies such as Harvard being the best college in the country with its most successful alums being drop outs. In terms of life time returns net of student debt it is not even worth going to on a non-athletic scholarship. Trump's shake up will cause a crash in such high tone ripoffs.

 

[busybee01]

Should we allow other countries like communist China to dump steel in the U.S. killing jobs for American workers? That's what liberals in this thread are saying. If China dumping steel into the U.S. was hurting illegals the liberals would be in an uproar.

There is no evidence of that. Actually you are taking the liberal position. You are saying what liberals are saying.

I see I struck a nerve, not surprising.

I am a Reagan conservative. You sound like a Bernie Sanders liberal. I find it interesting when liberals like yourself claim to be a conservative.

You don't know what a conservative is, let me guess you watch Juan Williams every night /mocking sarcasm

You don't know what a conservative is. You and Trump are parroting Bernier Sanders. I am parroting Ronald Reagan.

 

[busybee01]

Every time any politician or business leader suggests protective tariffs, the globalists trot out the argument that it will start a "trade war" and will "cost us jobs." Really? Then how come China, one of the most protectionist nations on Earth, has had growth that has nearly doubled ours for a long time? How come America did so well when we followed ardently protectionist policies for decades, start with Abraham Lincoln?

And as for a "trade war," we have been in a "trade war" for decades--the globalists just don't want us to defend ourselves very much. Yes, we have some tariffs, but not to the degree that many other nations have. And, by the way, look at the industries that we do somewhat protect with tariffs, such as sugar--they are doing well.

Because China has a lot of room to grow. If you have $1,000 and get another $200, you have 20% more. If you have $600 and get $200 more than you have 33% more. The person with the $1200 has more even though the person with $800 had higher growth. The US is a developed country while China is not. Also China uses public money to build things whether they are needed or not. Most of China's increased steel production will go to Chinese building projects.