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

[Slade3200]

Fuck ewe, the economy is the "best in history" according to your orange goon.
Gary Cohn, ex-Goldman Sachs chief, quit his job as soon as your goon announced the trade wars.
Or have you forgotten that already?
He quit because he knew Trump's tariffs were going to be a disaster, you silly twit.
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Funny, GM said tariffs had nothing to do with their decision. They want to take the company back to bankruptcy by concentrating on electric and self driving cars.

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When a company has to spend a billion more dollars because of tariffs over the course of a year what do you think the result is?

??

When a company has to spend a billion more in taxes over the course of a year, I'm told that they can afford it. Are you saying that isn't the case?

Some can afford it but not for long. Sooner or later they cut the fat which means layoffs

Yet the left never argues that more taxes should be stopped on companies like GM because they hurt the company and cost jobs.

So what? I don’t care what the Left says. What does that have to do with this discussion?

 

[The Banker]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
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Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
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So the solution is what? Allow China to continue to have trade advantages over us?

Mark

Yeah China sending us all their resources for super cheap is a real problem. We should negotiate to pay more....

Exactly, most of the Trump supporters know little about economics. The cheap steel helps our country significantly more than it hurts it. We lose a small amount of steel jobs and gain a large amount of manufacturing and construction jobs.

 

[The Banker]

When a company has to spend a billion more dollars because of tariffs over the course of a year what do you think the result is?

??

When a company has to spend a billion more in taxes over the course of a year, I'm told that they can afford it. Are you saying that isn't the case?

Some can afford it but not for long. Sooner or later they cut the fat which means layoffs

Yet the left never argues that more taxes should be stopped on companies like GM because they hurt the company and cost jobs.

The right has sure hit them with some big taxes now haven't they?

Thought you guys were into taxing the rich corporations?

BTW...the tariffs are a tactic. When the US markets become to expensive for a smaller economy and they lose access to our economy because of the tariffs, they'll then come to the table and negotiate a more reasonable agreement. Or they won't and we'll adjust to the new reality and carry on while they die away.

What are you talking about?? The tariffs don't hit small economies they mainly hit the big ones, China, Eurozone, Canada etc
These countries have already enacted retaliatory tariffs that have hurt the US.
Overall Trumps tariffs have been terrible for 2 reasons, 1) it raises the costs of good in our country and US consumers then pay more 2) the retaliatory tariffs raise the cost of our goods in foreign countries and we then export less, hurting the US.

Please learn the facts, not the Foxnews talking points.

 

[Crixus]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
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Who cares. Should have let them fail.

 

[Synthaholic]

Trump is fucking over the minority that voted for him. The farmers, the industrial Midwest, the pork producers, the coal workers.

I love it. I hope they’re all begging for those food stamps they’ve been wanting to do away with for decades. Fucking idiots.

 

[The Banker]

The right has sure hit them with some big taxes now haven't they?

Thought you guys were into taxing the rich corporations?

BTW...the tariffs are a tactic. When the US markets become to expensive for a smaller economy and they lose access to our economy because of the tariffs, they'll then come to the table and negotiate a more reasonable agreement. Or they won't and we'll adjust to the new reality and carry on while they die away.

Seems the right is into taxing rich corporations to me. Tariffs are just more taxes.

Yeah a tactic that has never worked....How about all those bankrupt farmers?

You mean the farmers put out of business by the Democrats? I'm not sure, but I know corporate farms are doing just fine, though they to are not happy about taxes.

The tactic has never worked? It has been working for the past century, or why do you think that these other countries have tariffs imposed on the USA?

The farmers have been hurt by the tariffs, that's all republican. But yeah, repubs probably are trying to help the big corp farms run the little guy off.

They work as a tax, that is all. Those countries need tax dollars obviously.

LOL

The Dems have been waging a war on the farmer for decades. Just look at the inheritance tax as a start. The rest I'll let you go research, not that I think you'd care to learn anything new.

Yes the tariffs have been great for the farmers that why the government has now had to subsidize them at a cost of Billions to US tax payers.
The inheritance tax??? That only hurts the ultra wealthy. You really are incompetent you need to do a lot more homework if you want to post because you look clueless right now.

 

[The Banker]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
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Ya, it's Trump's fault no one wants to buy a piece of shit like the Chevy Volt.

It’s amazing how you people just pretend this isn’t a big deal.

Their pride won't allow them to admit they made a mistake voting for this six-time-bankruptcy con man.
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Sew, ewe liked the big trade deficits?

Explain to us how Trump's tariffs have done anything to lower the trade deficits????????????????????

The trade deficit has gotten even bigger. Facts just destroy the GOP. You just don't know anything about economics and can't criticize Trump even when it's obvious his policy is terrible.

U.S. imports hit all-time high, trade deficit with China sets new record despite tariffs

 

[Dragonlady]

Sit back and watch the Trumpanzees make excuses for the big orange idiot.
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Sew ewe liked the big trade deficits?

Says an idiot who doesn't understand economics. Trade deficits aren't really a bad thing. They mean your population is buying goods and services. Trump's focus on trade deficits have revealed his limited grasp of how the economy really works.

 

[Norman]

More whines from people who put America last.

Not credible.

 

[Ted Frazier]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

Ya, it's Trump's fault no one wants to buy a piece of shit like the Chevy Volt and Cruze.

Or Harley Davidson. Oh wait.

 

[CowboyTed]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

So the solution is what? Allow China to continue to have trade advantages over us?

Mark

There was ways to handle it but it is way above your head... Obama had them in a bind before he left but Trump didn't know that and just left them off...

There was no need for a trade war with Obama's Plan...

 

[WillowTree]

Sit back and watch the Trumpanzees make excuses for the big orange idiot.
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.
.

Sew ewe liked the big trade deficits?

Says an idiot who doesn't understand economics. Trade deficits aren't really a bad thing. They mean your population is buying goods and services. Trump's focus on trade deficits have revealed his limited grasp of how the economy really works.

Good then let fucking Canada run up some huge deficits and stop fucking putting a 300% tariff on dairy or stfu!

 

[WillowTree]

Let American dairy flow into Canada NO TARIFFS! Put your fucking money where your mouth is.

 

[Claudette]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

So Toyota will be closing too?

Facts are a real bitch for you, aren't they?
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How bout this for a fact.

US Steele is doing great.

 

[80zephyr]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

So the solution is what? Allow China to continue to have trade advantages over us?

Mark

Yeah China sending us all their resources for super cheap is a real problem. We should negotiate to pay more....

Exactly, most of the Trump supporters know little about economics. The cheap steel helps our country significantly more than it hurts it. We lose a small amount of steel jobs and gain a large amount of manufacturing and construction jobs.

Is that just a guess or are you relying on our economic numbers to make that claim?

Mark

 

[The Banker]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

So the solution is what? Allow China to continue to have trade advantages over us?

Mark

Yeah China sending us all their resources for super cheap is a real problem. We should negotiate to pay more....

Exactly, most of the Trump supporters know little about economics. The cheap steel helps our country significantly more than it hurts it. We lose a small amount of steel jobs and gain a large amount of manufacturing and construction jobs.

Is that just a guess or are you relying on our economic numbers to make that claim?

Mark

100% economic numbers.and 100% fact.
It's pretty simple actually our manufacturing and construction industries are much larger than our steel industry. Cheap raw materials benefits them a lot,.It keeps costs down for US consumers and allows our exports to be more competitive. Then you also have to consider the fact that Trump's tariffs cause retaliatory tariffs that also hurt our exports.
Sure the tariffs help out steel industry, but that is a small industry. The tariffs hurt our manufacturing construction, and much more. Overall cheep steel is a net positive, and tariffs a net negative.

You should do some research on the subject:

Trump's ‘Smart’ Steel Tariffs Don't Make Economic Sense - The Atlantic

More broadly, the tariffs will raise costs for a vast sweep of businesses, given that steel and aluminum are major inputs in auto manufacturing, oil and gas extraction, and construction, as well as in the production of everything from beer cans to golf clubs. Manufacturers “will be paying higher prices for our stainless steel going forward, ironically making us less competitive against foreign-finished goods,” said Greg Owens, the president of the flatware maker Sherrill Manufacturing, in a press release.

Plus, the tariffs will invite retaliatory actions that could hit a huge number of American exporters. “Every time you do this, you get a retaliation, and agriculture is the number one target. I think this is terribly counterproductive,” Senator Pat Roberts, a Kansas Republican.

There are numbers to back this economic case up: A study of a similar trade actions taken by the George W. Bush administration found that they cost the economy an estimated 200,000 jobs, including roughly 11,000 in Ohio, 10,000 in Michigan, 10,000 in Illinois, and 8,000 in Pennsylvania.

Steel Tariffs Are Taxing Some American Companies

Bush tried metal tariffs and they were a miserable failure. The evidence is overwhelming.

 

[kyzr]

Steel tariffs are not show-stoppers for US manufacturing or construction. The US imports about 30% of its steel needs. If the cost of imports is excessive then why wouldn't they simply buy US made steel?

https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
"U.S. crude steel production increased 3.5 percent between 2015 and 2017, from 78.8 million metric
tons (mmt) in 2015 to 81.6 mmt in 2017. Production in YTD 2018 has increased 3.5 percent from
40.7 mmt in YTD 2017 to 42.1 in YTD 2018. Since 2009, apparent consumption (a measure of steel
demand) has exceeded production. The gap between this measure of steel demand and production
decreased to 11.3 mmt in YTD 2018 from 12.7 mmt in YTD 2017. Imports captured an increasing
share of demand, from 2009 to 2014, but they stabilized after 2014. Since 2014, import penetration
has been relatively flat, ranging from 33.8% in 2015, declining to 30.1% 2016, and then increasing to
32.6% in 2017. In YTD 2018, import penetration stood at 30.3%, down from33.4% in YTD 2017."

 

[ColonelAngus]

Hey, before you righties start throwing your crap on this thread, this report comes from Fox:

Ford CEO: Trump metals tariffs cost company $1B

GM has made the same claim.

Tried to tell you that Trump didn't know what the fuck he was doing when he started the tariff wars, but you wouldn't listen.
.
Marketwatch called it early:
GM and Ford would suffer a $1 billion profit hit if steel tariffs are enacted, says Goldman
"
Ford CEO Jim Hackett urged the Trump administration to resolve its trade disputes with China and Europe, noting that import tariffs have cost the Detroit-based company $1 billion profits.

“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said in an interview with Bloomberg. “If it goes on longer, there will be more damage.”
.

The cars are not selling, the steel tariff claim is bullshit.

 

[sparky]

Sew, ewe liked the big trade deficits?

no, and tariffs are quickly proving to not help

~S~

 

[sparky]

Steel tariffs are not show-stoppers for US manufacturing or construction

unless one happens to be IN manufacturing OR construction....

~S~