Trump's Proposed 25% Tariff On Steel

[Blk04L]

Some news I found on the Steel tariffs.

https://www.cnbc.com/2018/03/07/us-...-bringing-back-jobs-ceo-on-trump-tariffs.html

U.S. Steel CEO David Burritt told CNBC on Wednesday his company will reopen a steel plant in the United States due to President Donald Trump's steel and aluminum tariffs.

"We're really excited to be able to tell our employees in the community in Granite City, Illinois, that we will be calling back 500 employees," Burritt said during an interview with "Squawk Box."

https://www.cnbc.com/2018/03/08/jam...gnation-from-the-white-house-is-terrible.html

J.P. Morgan chief Jamie Dimon said Thursday the news of White House chief economic advisor Gary Cohn's departure from the Trump administration is "unfortunate."

"I think it is terrible. I think Gary is a very strong proponent of economic growth and is quite bright and knowledgeable," Dimon said in an interview with Bloomberg TV. "I think he was good to have in the White House, not as the press writes to defend Wall Street. He knows how an economy runs, he knows what needs to be done to make it healthier for all Americans, and he's not there. It's unfortunate."

Cohn, a former Goldman Sachs president, resigned Tuesday after losing his fight against stiff tariffs on steel and aluminum.

https://www.cnbc.com/2018/03/08/tru...its-from-tax-cuts-exxon-ceo-darren-woods.html


President Donald Trump's tariff plan could undo some of the "positive steps" that businesses experienced from the GOP corporate tax cut and deregulation, Exxon Mobil Chairman and CEO Darren Woods told CNBC.

Exxon's long-range investment plans, such as last year's announcement to spend $20 billion through 2022 to expand chemical and oil refining plants along the Gulf Coast, were "facilitated or enhanced by the deregulation and the lowering of the tax rate," Woods said Wednesday in an interview after the oil giant's analyst day in New York.

But the president's plan to impose import tariffs of 25 percent on steel and 10 percent on aluminum "takes us back in the opposite direction," said Woods, who became chief executive in January 2017 after his predecessor Rex Tillerson left to become Trump's secretary of State.

 

[HISSMAN]

The sky is not falling. This is just Trump opening the door for negotiations with countries like China that have Tariffs on goods that we send them. Trump is playing the long game.

 

[lowflyn]

All of these companies talking of building steel mills in the US are just fishing for tax breaks.

Keep production in US for 15-20 years then move again when trade is more favorable. It was already moving out of China into India and Mexico because of higher wages and true environmental and safety policies being enforced in China.

Give these companies 0% interest loans and no taxes for 15 years and they will stay until the incentives run out.


As far as outdated mills. If a foundry is not 100% automated at this point it is losing money. Even China has converted to an automated foundry and finish line with minimal human labor. Easy enough to build that here.

The hardest part in US and overseas is affordable scrap to build new products. It is currently cheaper to buy scrap in US and pay shipping and tariff overseas than it is to source quality scrap overseas.


Sent from my iPhone using svtperformance.com

 

[tt335ci03cobra]

Penned document reads nicely. Markets closed hire. Can negotiate out of the tariffs. Probably one of the easiest and smartest documents ever produced by the executive branch.

I’m still beside myself with humorous feelings when I think of the doom/gloom projections and how they can be so short sighted.

If you can’t see the big picture at play, I get the fuss. If you can see the big picture, you get the point.

Here’s a link with some msm coverage for the globally inclined

https://www.bloomberg.com/news/vide...pted-indefinitely-from-metal-tariffs-ap-video

And one from the fringe right for the red pill lot with an interesting take on Gary Cohen’s departure.

https://www.infowars.com/trump-sche...or-signs-of-exemptions-for-canada-and-mexico/

 

[black92]

None of that is true to the level you're making it seem. A few posts ago, you said people need to turn off MSM, but in this post, you basically parroted what the MSM and Euro-centric opinion sites say. You've fallen susceptible to the opinions of the people writing "articles" on the sites you said you visit. And they all preach the same sermon. If you really want to be enlightened and informed, you should expand your horizons.

Then he'll be a liberal... Ain't nobody got time for dat!

 

[nxhappy]

The truth is that the base model ecoboost at 27k and base gt at 37k are phenomenal values.

Loaded up to to 40k and 50k, they still are exceptional values.

The real peaches are the Germans. And I do hope trump puts a tariff on those puppies. They put a 50% tariff on American cars in Germany. Let’s put a 50% tariff on German cars and pay down some debt.

People will still buy those cars because it’s so liberal and cool to have a German car. Rich people will buy it up at the same pace because it’s a status symbol.

(I’m about 25% serious but I’m done with political correctness. Obviously America isn’t going to put a 50% tariff on German cars.)

BINGO. We need to be an eye for an eye. If these countries don't want to pay the uncle sam piper, they can go **** themselves. And guess what ....THEY NEED THE USA AS MUCH AS WE NEED THEM. This is a balancing act and as of now, the USA is getting ****ed on tariffs. Our economy will never strengthen if we rely solely on international imports. Our nation needs EXPORTS and we need to charge these assholes big money, just as they do to us. The USA gets hit hard with exports. And why ? Because they **** us on duties and taxes.

 

[nxhappy]

To balance that growth and break the debt climbing cycles, we need exports, and lots of them. We have record trade deficits and groups are beginning to reject our 2.8-2.95% 10 year notes.
.

You are exactly right. Exports = american goods = american jobs = american revenue

 

[tt335ci03cobra]

Haha thanks nxhappy, but hey if you pay me too many compliments, the liberals and moderates and neo cons will laugh at you, oh no!

 

[tt335ci03cobra]

I honestly wish everybody in this country a safe, happy, healthy and industrious opportunity to actualize and develop, live, laugh and love, and die in peace and dignity. I wish it for the world.

I don’t get up here and take the brunt of the conspiracy theorist title for the attention, I hope I’m wrong and that every globalist agenda is peaches and roses so people live amazing.

Thing is, I see things that cause me alarm and I sound it, I raise the flag, and I stand tall and proud on it. If it’s a false alarm, it was with dignity and clean intent.

I get called a racist or a bigot every time I proudly support Trump in public, and am happy to wear that perceived stupidity or malice. I ask the people saying it if they care about all people or the people they think I don’t care about and it always throws them off guard.

If you care about everyone, you don’t ask questions like that. It deescalets the moment and causes an uncertainty in them of their convictions.

To the ones that just ramble on hating me, I don’t bother to convince them they are likely brainwashed, I even wish them the best and want to see them happy and healthy. (Well unless they are assholes, antifa or communists, then I turn into a wolf...)

 

[nxhappy]

I honestly wish everybody in this country a safe, happy, healthy and industrious opportunity to actualize and develop, live, laugh and love, and die in peace and dignity. I wish it for the world.

I don’t get up here and take the brunt of the conspiracy theorist title for the attention, I hope I’m wrong and that every globalist agenda is peaches and roses so people live amazing.

Thing is, I see things that cause me alarm and I sound it, I raise the flag, and I stand tall and proud on it. If it’s a false alarm, it was with dignity and clean intent.

I get called a racist or a bigot every time I proudly support Trump in public, and am happy to wear that perceived stupidity or malice. I ask the people saying it if they care about all people or the people they think I don’t care about and it always throws them off guard.

If you care about everyone, you don’t ask questions like that. It deescalets the moment and causes an uncertainty in them of their convictions.

To the ones that just ramble on hating me, I don’t bother to convince them they are likely brainwashed, I even wish them the best and want to see them happy and healthy. (Well unless they are assholes, antifa or communists, then I turn into a wolf...)

naw mate ....stand proud for what you believe in ! It's funny, when Trump first proclaimed he wanted to become POTUS, I was beyond excited. I truly believed he was going to make it. And here we are, economy is CRANKING. I honestly believe he will run the show for 8 years. I don't care about all the whiners and crybaby's. I want America to ge GREAT again. And best you believe, that means cranking out more EXPORTS. Not only for my business, but for the millions of Americans. We need American products, and American jobs. No more "made in China" bullshit. Where did we go wrong ?!?!?!

 

[Lemmiwinks]

I engineer and sell automation equipment for industrial processes. One of our vertical markets is metals. Our orders and inquires are *of-the-hook*. For decades I've watched too many steel production machines pulled out of US plants and shipped to China or India. For decades I've watch barge load upon barge load of shredded steel shipped to Asia. No more. Nothing is better than American steel. We perfected the process and sold the technology to Asia.

Take a tour of an old steel plant. Talk with the old timers. They'll tell you about how this building used to house 10 pickling lines. That building used to house rolling mills. This building used to have furnaces. Now? Empty. Long gone. It's depressing as hell to see and listen to these guys.

Who does this tariff benefit? Americans. We are reviving equipment and buying new equipment to revitalize the steel and aluminum industry that has long left the US.

It doesn't matter what the MSM says. Without a doubt we are seeing a massive bump in US based capitol equipment spending that started with the tax plan and is continuing with the tariff. This is hard, verifiable data. Americans are going to benefit for generations to come because of this.

Will we suffer a little short term as these plants modernize? Yes. It takes a lot of, money, equipment, skill, and tribal knowledge (that we've lost) to make metal products. Steel and AL prices will rise. But once we jump start these machines and get this country back to it's manufacturing roots prices will normalize. This is how we put Americans to work on many levels of the game. From equipment suppliers to production facilities.

What better way to spur an economy that has seen terrible GDP growth over the last 10 years than to revitalize a heavy industry.

Going as far as saying that nothing is better than american steel is a bit far fetched isn't it?
You can't forget the quality of the Swedish steel.

And don't hate the player, hate the game.
Sure, Asia is buying all of the technology and know-how. So what?
It's their strategy.
And honestly, it's a great strategy. It benefits their country in enormous ammounts. Why do they have to go through an industrial revolution in the same manner as the western world? It's 150 years later todays date, ofcourse they'll do it in a different way.
Why reinvent something when you could just buy the product?
Or even better, buy the machines and know-how that makes the product.
It's a great strategy in my opinion.

Though I'm no world scientist, this is just my little and quite pointless opinion.


Sweden is one of the countries that will be affected by this, SSAB in particular.
Though I don't think it will be affected that much because those who buys the high grade quality steel from SSAB will probably continue to do so as a lot of those steels are used in tools and tooling machines.
But maybe we'll see a price increase of those tools and machines in the US in result of this. Maybe not.
And SSAB doesn't seem to be that worried either as far as I've seen.

But it will make an impact on lower grade steel market for sure.


Also, be prepared as it will probably come out of your own pockets in the end.
As the materials, atleast for a while, will be more expensive it will probably drive the prices up because ofcourse the manufacturers doesn't want to loose money on this.

 

[GT Premi]

Going as far as saying that nothing is better than american steel is a bit far fetched isn't it?
You can't forget the quality of the Swedish steel.

...

Don't forget about Hitori Honzo steel, too.

 

[Coiled03]

Don't forget about Hitori Honzo steel, too.

Ugh...take your like, damnit.

 

[GT Premi]

I was actually worried nobody would get the reference. haha

 

[capnkirk52]

Ugh...take your like, damnit.

I feel the same way. Damn. lol.

 

[tt335ci03cobra]

There is no pass for China in my opinion.

If I opened a shop like and treated my employees like malnourished work horses as in almost 1.5 times the hourly work week average and used the money I “saved” by paying 5-10 times less than 40hr minimum wage to buy up the companies I bankrupt by dumping massive amounts of product at about half the cost they can even sell wholesale for, Id be a robber baron. If I then took those businesses and manipulated their real estate deeds as a leverage tool to coerce dumb leftist and neo con politicians to do my bidding by gifting them certain pieces of real estate in a complex tax free system backed by lobbyists that I funded in the first place I’d be guilty of extortion and treason.

If I continued doing these spider webs throughout the world while extorting my employees into paying me 85% if they money they are paid by making them live at my factory, and eat the food I offer on site, so as to be making a serious profit off that money because I built the housing off their prior production profits, and own the cafeteria, food production, farming and distribution channels again from their prior profits, I’d be guilty of racketeering and extortion.

If I then tried to influence high political offices in the world’s most powerful countries and sway election outcomes, while using their colleges to spread my message of living for the tt335ci03cobra dynasty of high societal envolvement and betterment, while actually killing off my weak and meager employees for their healthier organs to keep my health care system in good measure, I’d be guilty of High Treason and crimes against humanity.

I can go on and on. If you want to play a fun game with leftists, liberals and neocons, tell all the horrible things that China does as the history of American industrial revolution violations against humanity (it did happen to much smaller extents) and then at the end cap it off by showing how much duress you have that China has evolved those practices to the highest levels, as well as heavy pollution, abuses to freedom and so forth. It’s fun to wind a leftist into a pretzel and sprinkle salt on them.

 

[tt335ci03cobra]

Don't forget about Hitori Honzo steel, too.

Ugh...take your like, damnit.

I feel the same way. Damn. lol.

I think we all know people in the know will pay just about any price for those badboys. Those who use that recipe make some of the finest weopons in the world.

Capitalism has that covered, if anything their sales will increase because more people making money in America will buy them up as hobbiests and appreciate the intricacy and history.

Only time capitalism fails is with cheap knock off swords cause those suck and no one should make money selling crappy swords. Chuch.