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

[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?

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
.
.

So are tariffs good or bad?

 

[Dragonlady]

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

Other countries ARE trading fairly with the US. Do you think the USA became the richest country in the world because you had bad trade deals. The Chinese will steal proprietary information and that needs to end, but essentially everyone has traded fairly with the US. Trade deficits are NOT necessarily a bad thing.

Your trade deficits exist because of off-shoring. It is cheaper and easier for labour intensive manufacturing, like clothing manufacturing, to be done off-shore. Americans are addicted to cheap goods. The cheaper the better. In other countries, quality matters. Keeping jobs at home matters. Americans have done this to themselvesl with their demand for cheap goods.

Walmart openly encouraged suppliers to off-shore, costing the US economy hundreds of thousands of jobs. They pressured suppliers for ever cheaper goods. But Americans don't blame the US companies, thanks to Trump they blame the countries who are importing the goods.

 

[RealDave]

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

Sew ewe liked the big trade deficits?

Trade deficits do not hurt anyone.

Steel Tariffs are costing US businesses billions & billions.

Trump has to bail out the farmers he fucked overt

Trump knows nothing about trade.

You & your fucked up orange buddy thinks trade deficits is losing money. You can't get dumber than that.

 

[RealDave]

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

I get it. Trump had to put steel tariffs on Canada & Europe because of China.

China is not even in the top ten countries from which we import steel.

Trump is a fucking asshole who knows nothing while he refuses to heed advice from experts because he thinks he is the smartest person on the fucking planet.

 

[WaitingFor2020]

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.”
.

You should lay off the grape koolaid.

Ford refutes media claim that Trump tariffs caused layoffs

Great, now try talking about GM, which is what this thread is actually about.

The link goes to a blog.
And these are the people who complain about fake news.
[rolling eyes]
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.
.

 

[WaitingFor2020]

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

I get it. Trump had to put steel tariffs on Canada & Europe because of China.

China is not even in the top ten countries from which we import steel.

Trump is a fucking asshole who knows nothing while he refuses to heed advice from experts because he thinks he is the smartest person on the fucking planet.

Yep, he's made remarks lately that he just goes with his gut, he doesn't need advisors:

Trump says he trusts his gut 'more than anybody else's brain'

Considering he's full of shit, that makes for some really nasty guts.
.
.
.

 

[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
.
.

So are tariffs good or bad?

You should really ask that of the 15,000 people who are losing their jobs. And the tens of thousands of auto workers who are probably worried as hell about their jobs, too.

But I will remind you, since your cranial sac is so devoid of facts, Gary Cohn quit as economic advisor to Trump as soon as he announced the tariffs.
Gary Cohn was the COO at Goldman Sachs before taking his job on the Goon's cabinet.
Any other stupid questions?
.
.
.

 

[whitehall]

What the hell does the left want? Do lefties want to continue to buy junk from China to make U.S. products with unfair trade policies? President Trump is trying to fix it and incoherent hypocritical lefties fight him every step of the way while they enjoy the DOW at around 25,000, the GDP at around 4.1% and the lowest unemployment in modern history.

 

[Flash]

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
.
.

Real lesson. Don't let Obama and the fucking government take over your company. It will not end well.

 

[WillowTree]

What the hell does the left want? Do lefties want to continue to buy junk from China to make U.S. products with unfair trade policies? President Trump is trying to fix it and incoherent hypocritical lefties fight him every step of the way while they enjoy the DOW at around 25,000, the GDP at around 4.1% and the lowest unemployment in modern history.

The left hate Americans! Realize that and all else falls into place! Cuomo “America was never that great.”

 

[Thinker101]

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

Other countries ARE trading fairly with the US. Do you think the USA became the richest country in the world because you had bad trade deals. The Chinese will steal proprietary information and that needs to end, but essentially everyone has traded fairly with the US. Trade deficits are NOT necessarily a bad thing.

Your trade deficits exist because of off-shoring. It is cheaper and easier for labour intensive manufacturing, like clothing manufacturing, to be done off-shore. Americans are addicted to cheap goods. The cheaper the better. In other countries, quality matters. Keeping jobs at home matters. Americans have done this to themselvesl with their demand for cheap goods.

Walmart openly encouraged suppliers to off-shore, costing the US economy hundreds of thousands of jobs. They pressured suppliers for ever cheaper goods. But Americans don't blame the US companies, thanks to Trump they blame the countries who are importing the goods.

WTF...other countries are trading fairly with the US?

 

[WillowTree]

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
.
.

So are tariffs good or bad?

You should really ask that of the 15,000 people who are losing their jobs. And the tens of thousands of auto workers who are probably worried as hell about their jobs, too.

But I will remind you, since your cranial sac is so devoid of facts, Gary Cohn quit as economic advisor to Trump as soon as he announced the tariffs.
Gary Cohn was the COO at Goldman Sachs before taking his job on the Goon's cabinet.
Any other stupid questions?
.
.
.

So! Are tariffs good or bad?

 

[basquebromance]

"Steel Dynamics announced that it will build a brand new 3 million ton steel mill in the Southwest that will create 600 good-paying U.S. JOBS. Steel JOBS are coming back to America, just like I predicted. Congratulations to Steel Dynamics!" - President Trump just now

 

[WillowTree]

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

I get it. Trump had to put steel tariffs on Canada & Europe because of China.

China is not even in the top ten countries from which we import steel.

Trump is a fucking asshole who knows nothing while he refuses to heed advice from experts because he thinks he is the smartest person on the fucking planet.

So! Are tariffs good or bad?

 

[Dragonlady]

"Steel Dynamics announced that it will build a brand new 3 million ton steel mill in the Southwest that will create 600 good-paying U.S. JOBS. Steel JOBS are coming back to America, just like I predicted. Congratulations to Steel Dynamics!" - President Trump just now

Big whoop! 600 jobs in steel versus 15,000 jobs in automobile production announced just yesterday, plus numerous small steel dependent manufacturers like 200 jobs near Buffalo when a small manufacturer closed (it was on their evening news), plus other small manufacturing jobs across the land. When Trump first introduced this tariff, it was said that the US would lose 3 jobs in manufacturing for every job created in the steel industry. Looks like that estimate was WAY too low.

 

[bendog]

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.

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

How dare you doubt the economic genius of our really smart president who never acts for purely political gain! How DARE YOU SIR! (-::

 

[WillowTree]

"Steel Dynamics announced that it will build a brand new 3 million ton steel mill in the Southwest that will create 600 good-paying U.S. JOBS. Steel JOBS are coming back to America, just like I predicted. Congratulations to Steel Dynamics!" - President Trump just now

Big whoop! 600 jobs in steel versus 15,000 jobs in automobile production announced just yesterday, plus numerous small steel dependent manufacturers like 200 jobs near Buffalo when a small manufacturer closed (it was on their evening news), plus other small manufacturing jobs across the land. When Trump first introduced this tariff, it was said that the US would lose 3 jobs in manufacturing for every job created in the steel industry. Looks like that estimate was WAY too low.

Hey! Asshole! If you think tariffs are bad tell Canada to stop with the 300% tariffs on American dairy products or stfu!

 

[OKTexas]

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
.
.

Once again, the tariffs haven't taken effect. GM has been making cars that people don't want to buy, they seem to have a uncanny ability to mismanage the company. They can't compete in the family sedan market so they're bowing out.

.

 

[80zephyr]

GM HAD THE MONEY. They bought back 10 billion dollars of their own stock since 2015. Did they invest it in factories? Nope. They did it to enrich themselves.

The tariff argument is bogus.

Mark

 

[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

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.

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

How dare you doubt the economic genius of our really smart president who never acts for purely political gain! How DARE YOU SIR! (-::

Good question. Before Trump was elected a majority of "experts" predicted an economic collapse should he succeed in winning office.

All these "experts" were wrong.

And what has happened since? Job growth, low unemployment, rising wages. Just like Trump said would happen.

Which "expert" do you agree with?

Mark