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

[WillowTree]

Sew, ewe liked the big trade deficits?

no, and tariffs are quickly proving to not help

~S~

Why? They seem to work for the Oher countries! Right. Canada has a 300% tariff on American dairy products! Why do tariffs work for them and not for the USA?

 

[sparky]

Why do tariffs work for them and not for the USA?

because it's all 25 years too late....
~S~

 

[WillowTree]

Why do tariffs work for them and not for the USA?

because it's all 25 years too late....
~S~

Better late than never!

 

[kyzr]

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

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

~S~

Was in both, could buy steel from any supplier, and some jobs (bridges & pharma) required US steel due to quality concerns for imports. Steel tariffs are not show stoppers. The cost of steel is a tiny part of the overall product cost.

 

[kyzr]

Why do tariffs work for them and not for the USA?

because it's all 25 years too late....
~S~

Why is it too late? Trump saved the US steel producers from unfair foreign competition.

 

[sparky]

read & weep>>>
Trump says tariffs are working great: 5 pieces of evidence they're not ...

https://www.vox.com/policy-and-politics/2018/8/5/.../trump-tariffs-trade-war-steel
Aug 5, 2018 - Trump says tariffs are working “big time. ... If they don't want to be taxed, let them make or build the product in the U.S. In either event, it means ...

Trump trade war: Why he's fighting it and how tariffs work - USA Today

https://www.usatoday.com/story/money/2018/08/.../trump...tariffs...work/988027002/
Aug 27, 2018 - President Trump has imposed escalating tariffs on imports to fix what he says is an unfair trade imbalance between the U.S. and other ...
Trump Loves Tariffs, But No One Else Does - Forbes

https://www.forbes.com/sites/johnbrinkley/.../trump-loves-tariffs-but-no-one-else-does...
Aug 8, 2018 - “Tariffs are working far better than anyone ever anticipated.” ... this by offering farmers $12 billion in welfare payments that they don't want.
Tariffs would work — if Trump could build an economy like China's ...

https://www.washingtonpost.com/.../tariffs-would-work-if-trump-could-build-an-econo...
Jul 28, 2018 - Tariffs would work — if Trump could build an economy like China's ... “We are being taken advantage of,” he said, adding, “and I don't like it.”.

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

https://www.theatlantic.com/business/archive/2018/03/trump-steel...tariffs/554660/
Mar 1, 2018 - President Donald Trump's long-anticipated tariffs are finally here: 25 percent on imported steel and 10 percent on imported aluminum, with a ...

 

[sparky]

Trump saved the US steel producers from unfair foreign competition.

read & weep>

Trump’s steel tariffs are hated by almost every US industry

~S~

 

[kyzr]

You forgot the last two words of the title "Except steel."

I'm assuming that you never had a good job of yours outsourced?

In my home area good jobs are scarce, so I appreciate when the government helps keep good jobs here instead of the Obama admin policy of "those manufacturing jobs are not coming back..."

 

[sparky]

ah, no ...the gist is it isn't workin' for everyone , which was the goal promised by Trump

~S~

 

[kyzr]

ah, no ...the gist is it isn't workin' for everyone , which was the goal promised by Trump

~S~

Trump is trying to level the playing field for everyone, including the US. If tariffs are so bad, why do other countries have them keeping US products out? The gist is, eliminate all tariffs and play fair, or we will use our huge market to advantage.

 

[Flash]

Sorry Moon Bats but you are confused.

GM stopped producing good cars that Americans wanted more than a couple of decades ago.

They should have been bankrupted in 2009 but that asshole Obama gave them tens of billions of our tax payer's money and subsidized their stupid cars and put shitheads on the Board of Directors and the company continues to fail.

That dipshit Obama did all those stupid things to pay back the greedy UAW filth for the tens of millions they gave him in campaign donation.

Obama's Government Motors is just as much of a failure as General Motors was.

Can't blame Obama's failures on Trump like you assholes did with Bush.

 

[BluesLegend]

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.

Exactly. Meanwhile in other news Americans continue to buy cars and trucks same as always.

 

[WillowTree]

ah, no ...the gist is it isn't workin' for everyone , which was the goal promised by Trump

~S~

Trump is trying to level the playing field for everyone, including the US. If tariffs are so bad, why do other countries have them keeping US products out? The gist is, eliminate all tariffs and play fair, or we will use our huge market to advantage.

I think Trump’s goal is no tariffs anywhere anytime! Fair trade is good trade!

 

[Flash]

Toyota is building plants in the US to build cars, and Government Motors is going overseas.. Ironic.

Steel tariffs doesn't stop Toyota, Nissan or Honda from building and selling cars in the US, does it?

Obama requiring that GM restructure to produce hybrids and more fuel efficient cars didn't exactly work out very well, did it? GM should have been like Ford and never taken a dime of Obama's taxpayer's money. Like making a deal with the Devil.

 

[WillowTree]

Toyota is building plants in the US to build cars, and Government Motors is going overseas.. Ironic.

Steel tariffs doesn't stop Toyota, Nissan or Honda from building and selling cars in the US, does it?

Obama requiring that GM restructure to produce hybrids and more fuel efficient cars didn't exactly work out very well, did it? GM should have been like Ford and never taken a dime of Obama's taxpayer's money. Like making a deal with the Devil.

The extreme Trump haters blame him every time a gnat sneezes!

 

[Jroc]

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.”
.

3 billion dollar quarterly profit cause the layoffs...you people are full of crap

 

[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

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.

Do you believe that China and others were trading fairly with us?

Mark

 

[Flash]

Foreign companies like Toyota and Honda can manufacture in the US and be successful because they have:

-No union albatross
-Competent management
-Desirable product
-Reputation for quality

GM has none of that.

My Tundra truck was made at a non union plant in a right to work state and it is very high quality.

 

[Dragonlady]

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.”
.

Most of the voters knew that some of us were going to bite the bullet to give Trump the clout he needed to deal with China and other Nations so this is not a surprise, I am for one willing to take a "hit" to give him whatever he needs to deal with other Nations.

So you're a GM worker who is losing their job, their health care, their pension and their life? Because if you aren't one of the 15,000 people losing their livelihood and their future, you're not the one taking thi "hit".

 

[WaitingFor2020]

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

Sew ewe liked the big trade deficits?

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.
.
.
.

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.

.

You know a Trumpanzee is gasping for air when they part ways with Fox Noise:

"""""President Trump’s steel tariffs alone add an average of $250 to the cost of making a car. Other tariffs affect more than 100 car parts ranging from tires to car batteries, further increasing costs and consumer prices. The billion dollars tariffs will cost GM annually is enough to pay the salaries of 24,000 assembly workers. The layoffs affect about 14,700 workers.""""

Lessons from the GM layoffs: End the tariffs and the subsidies- Fox Business
.
.