"It could be a big money maker for the US." Is this based on the fact that American metal companies are able to quickly revive and ramp-up production? IF these companies are not out of business, they are operating at much lower capacities than the "hay day". Are they able to turn production around quickly enough to respond to market demand? Or, will there be a 12-24 month lapse where companies are paying higher material prices while they wait for domestic suppliers to increase production?
Trump's Proposed 25% Tariff On Steel
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"It could be a big money maker for the US." Is this based on the fact that American metal companies are able to quickly revive and ramp-up production? IF these companies are not out of business, they are operating at much lower capacities than the "hay day". Are they able to turn production around quickly enough to respond to market demand? Or, will there be a 12-24 month lapse where companies are paying higher material prices while they wait for domestic suppliers to increase production?
This has already been tried, by Bush of all people. It was also tried by other presidents before him. They had to drop it because it only hurt the economy. It hasn't worked yet and won't work this time.
I know Ford gets their steel from Tower International and Metalsa SA. The latter being a Mexican based company.
Are you REALLY comparing one of the greatest businessmen in American history to a skidmark on the whitehouse toilet named Bush?
Weapons grade dumb****ery has been achieved by you. Congrats.
Not only will TMoney make it work, it will help the already epic economy THRIVE voraciously. Once accomplished, Im sure you’ll find something else to clench your pearls in horror about, Nancy.
Seems like this could be a double edged sword to me. Some American companies will benefit from this, when others, will suffer due to this. I guess we are just along for the ride. Let's hope it doesnt spark a trade war.
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You must be a troll. It's hard to imagine people with this low of intelligence and understanding are real.
Agree. I lived in Asia for two years, they tax the hell out of our stuff.
I am ok applying any tax to them that they apply to us.
What part of SC are they in?
Except this has nothing to do with China. China is not even in the top 10 of those we import steel and aluminum from.
https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/8777471A-1D89-11E8-AFF8-7834937E5386
Also, this is a tax on consumers of steel not producers of steel. Do you buy stuff made of steel? If so then then the joke is on you.
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Steve Mnuchin let this loose with NPRs Kia Ryssdal at a public university. Obviously, he was heckled and you can hear hissing during the whole interview. Steve put the tariffs in an eloquent way that if our goods are being taxed then we will do the same with those same goods from those countries.
2 days later Trump laid it down on all of those CEOs that the hammer is being dropped.
I suspect retaliation from those big importers on other goods we get from them.
Podcasts
https://itunes.apple.com/us/podcast/marketplace-with-kai-ryssdal/id201853034?mt=2&i=1000404105481
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2 days later Trump laid it down on all of those CEOs that the hammer is being dropped.
I suspect retaliation from those big importers on other goods we get from them.
Podcasts
https://itunes.apple.com/us/podcast/marketplace-with-kai-ryssdal/id201853034?mt=2&i=1000404105481
Sent from my iPhone using Tapatalk
Sounds good in theory, that we'll just tax the hell out of them in return, but there will be ramifications for this. Trump has been able to do whatever because the economy has been good, if that goes in the toilet he's ****ed.
A trade war is a smart place to be if you have already deregulated American businesses and continue to do so, all while having a tax plan that makes capitalism much more powerful. Inflation is a bad deal, but rising bond rates, and spurred growth, coupled with honest economic growth, and infrustructure is a direction that has potential for actually paying down some national debt. People used to making easy money at blue collar expense will lose out a good bit, but blue collar, industry and smaller to medium business will spur with growth, and lead to probably 10 to possibly 15 million Americans entering the over $150k a year bracket within a 5 year window. That’s good for about $1T a year of extra tax revenue.
Next, use antitrust and monopoly laws to break up google, Facebook, Amazon, and the rest, and establish an internet bill of rights.
Next put the corrupt ones who sold us out in guet.mo, and make some libel laws that scare the hell out of low level devils.
Next get the UN the hell out of our colleges and education in this country. They preach socialism the world over and pervert science and math, while offering false history, godlessness, and total manipulations of what is and isn’t good for the human species. Get that garbage out of our education system and you will see a country so strong and capable that all the Kings men and their army will stand no chance.
Right now, deregulation, tax plan, and soon this trade war are great achievements. Don’t fear the trade war. It’s a lot less painful than nukes and tanks. We can win either of these scenarios right now as a world power but if we play the timid card and let the enemy’s get even more leverage, forget it.
Next, use antitrust and monopoly laws to break up google, Facebook, Amazon, and the rest, and establish an internet bill of rights.
Next put the corrupt ones who sold us out in guet.mo, and make some libel laws that scare the hell out of low level devils.
Next get the UN the hell out of our colleges and education in this country. They preach socialism the world over and pervert science and math, while offering false history, godlessness, and total manipulations of what is and isn’t good for the human species. Get that garbage out of our education system and you will see a country so strong and capable that all the Kings men and their army will stand no chance.
Right now, deregulation, tax plan, and soon this trade war are great achievements. Don’t fear the trade war. It’s a lot less painful than nukes and tanks. We can win either of these scenarios right now as a world power but if we play the timid card and let the enemy’s get even more leverage, forget it.
For all the people against this, do you think he decided to do it without talking to anyone about it? Specifically, don't you think he probably talked to people who understand a lot more about the impact than anyone on this board?
I'm understanding it as. We set the import tariff, import cost goes up and trickles down from the supplier to the consumer.
This really is just a big ploy to get companies to source their metals stateside it seems. Is 25% enough to smash the shit out of import prices, while increasing global prices enough to bring manufacturing back? I'd be interested to hear some current cost comparison from someone in the business who can compare domestic/foreign sourced metal costs.
In a perfect world US companies would rebuild the steel industry. It could work if we were still manufacturing a lot. All the big players bailed long ago and are doing their manufacturing and producing with steel in other countries anyway. Most likely due to cheap labor and lack of regulations. Mexico (Ford), Canada (GM), come to mind really fast. The big players are importing raw materials into other countries, then shipping the finished products stateside to be bolted together, and called American.
If anything I am seeing this as hurting the goal of bringing manufacturing back to the US. Anyway you look at it the cost of steel is going up in cost whether your paying your part of the 25% tariff or paying more for US sourced steel.
Isn't it cheaper to just operate elsewhere? I don't know if a 25% tariff from a country who doesn't manufacture much, is going to sway the global market enough to make US Steel the cheapest and bring manufacturing home. I think we missed the bus on this one, and this isn't going to work as being the catalyst to increasing manufacturing/exports.
I do like the fact it is taking a shit on NAFTA, but I'm failing to see the benefit to those it will be affecting. It's essentially just making American made goods cost more, which is currently already the problem?
This really is just a big ploy to get companies to source their metals stateside it seems. Is 25% enough to smash the shit out of import prices, while increasing global prices enough to bring manufacturing back? I'd be interested to hear some current cost comparison from someone in the business who can compare domestic/foreign sourced metal costs.
In a perfect world US companies would rebuild the steel industry. It could work if we were still manufacturing a lot. All the big players bailed long ago and are doing their manufacturing and producing with steel in other countries anyway. Most likely due to cheap labor and lack of regulations. Mexico (Ford), Canada (GM), come to mind really fast. The big players are importing raw materials into other countries, then shipping the finished products stateside to be bolted together, and called American.
If anything I am seeing this as hurting the goal of bringing manufacturing back to the US. Anyway you look at it the cost of steel is going up in cost whether your paying your part of the 25% tariff or paying more for US sourced steel.
Isn't it cheaper to just operate elsewhere? I don't know if a 25% tariff from a country who doesn't manufacture much, is going to sway the global market enough to make US Steel the cheapest and bring manufacturing home. I think we missed the bus on this one, and this isn't going to work as being the catalyst to increasing manufacturing/exports.
I do like the fact it is taking a shit on NAFTA, but I'm failing to see the benefit to those it will be affecting. It's essentially just making American made goods cost more, which is currently already the problem?
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Was talking to someone who works at Bekaert about this. They make the steel belts used in tires and he was saying they have to import because they cannot get good enough steel here. So unless U.S. upgrades to a better grade of steel they will still need to import. When that happen the price of tires will go up. Hopefully Trump is using this as a bargaining chip but time will tell.
US steel is far and away better than Chinese steel, and arguably the best around.
I think some companies tell their employees that US steel isn’t as good rather than say that it’s just too expensive to keep moral up.
An example, Chinese steel isn’t used in sky scrapers. It is used in gardening tools though.
I think some companies tell their employees that US steel isn’t as good rather than say that it’s just too expensive to keep moral up.
An example, Chinese steel isn’t used in sky scrapers. It is used in gardening tools though.
Ha. I don’t see any gardening tools collapsing....but they do break often.
I would be understandably shocked to find out that this was decided with the help of any true experts.
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