Trump the cause of layoffs: Steel tariffs cost automakers $1B

[basquebromance]

from Politico:

Trump’s trade war is driving production out of China — but not to America. Companies like Manwah, a furniture company, are now moving to Vietnam and other countries where Trump’s tariffs won’t apply. To many of them, this seems like the only practical solution to avoid getting hit by the 10% tariffs on $200 billion worth of Chinese imports.

In the U.S., companies are trying to decide what they’ll do if those tariffs increase to 25%. One manager at a Virginia family business told us they’re considering three options: 1) Keep buying Chinese-made furniture and pass the extra costs on to the customer, which will probably result in lost sales; 2) Buy more product from Southeast Asian countries, where capacity or quality isn’t guaranteed; or 3) Buy more American-made products, which might be too expensive for their core customers.

 

[Manonthestreet]

WASHINGTON (AP) — Consumers boosted their spending in October at the fastest pace in seven months, while their incomes rose by the largest amount in nine months — both good signs for future economic growth.

 

[Cellblock2429]

WASHINGTON (AP) — Consumers boosted their spending in October at the fastest pace in seven months, while their incomes rose by the largest amount in nine months — both good signs for future economic growth.

/----/ I did dat...