Trump Tariffs - RC Groups
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Mar 08, 2018, 02:49 PM
It's 5 O'clock Somewhere
RumRunner_1492's Avatar
Discussion

Trump Tariffs


Trump is signing the tariffs into place today. Apparently they exclude Canada and Mexico for now as they continue to negotiate the new NAFTA. This turned out almost exactly as I say it playing out. Trump is using the tariffs as a negotiation tactic. Trump is pressuring Canada and Mexico for better terms and putting the screws to the EU for demanding no negotiations would take place until the US rejoined the Paris Climate agreement.

While I'm not a fan of tariffs it appears at this point that Trump is playing these cards well to get the best possible outcome for the US.

It appears the claims of the sky is falling were wildly overblown.

Quote:
All countries affected by proposed U.S. tariffs on steel and aluminum have been invited to negotiate exclusions from the measures, which will take effect within 15 days after U.S. President Donald Trump signs proclamations on Thursday, the Associated Press reported.
Quote:
President Donald Trump said Thursday he would announce tariffs on imported steel and aluminum but with temporary exemptions for Canada and Mexico as he seeks to revise the North American Free Trade Agreement. He suggested Australia and “other countries” might also be spared, a shift that could soften the international blow amid threats of retaliation by trading partners.
Quote:
“We’re going to be very fair, we’re going to be very flexible but we’re going to protect the American worker as I said I would do in my campaign,” Trump said during a Cabinet meeting.

The president reiterated that he would levy tariffs of 25 percent on imported steel and 10 percent on aluminum but would “have a right to go up or down depending on the country and I’ll have a right to drop out countries or add countries. I just want fairness.”
https://www.reuters.com/article/us-u...-idUSKCN1GK2VA

https://apnews.com/16376596d71d4ae18ed40447ce8278e9
Mar 08, 2018, 03:13 PM
Gravity-Compliant User
Zaurak3's Avatar
What it appears is that Trump is back-tracking on his original declaration. He may have done this to instigate a reaction, but that is not the way to conduct international relations for the long term. That said, time will tell which way this ultimately goes.

Some damage has already been done, such as his immediate withdrawal from the TPP...

https://www.nytimes.com/2018/03/08/w...pp-signed.html
Mar 08, 2018, 03:33 PM
It's 5 O'clock Somewhere
RumRunner_1492's Avatar
Quote:
Originally Posted by Zaurak3
What it appears is that Trump is back-tracking on his original declaration. He may have done this to instigate a reaction, but that is not the way to conduct international relations for the long term. That said, time will tell which way this ultimately goes.

Some damage has already been done, such as his immediate withdrawal from the TPP...

https://www.nytimes.com/2018/03/08/w...pp-signed.html
The US withdrew from TPP a year ago. The only big player for steal trade in that area is South Korea. I'm guessing we will have a trade agreement with them.

This is how negotiations work in the real world. It's give and take. The US in the past has always been give, give, give.
Mar 08, 2018, 03:36 PM
Registered User
Windrider53's Avatar
Sitting with friends at lunch one guy was watching the stock market, it went up 90 points between President Trump's speech and the closing bell.
Mar 08, 2018, 03:37 PM
Registered User
Greybird's Avatar
This makes perfect sense. However, here and all over the liberal news will be a zillion "sky is falling" nonsense. Also, if Jeff Flake is against it, it must be the right thing to do.
Mar 08, 2018, 03:51 PM
Really?
dll932's Avatar
https://finance.yahoo.com/news/trump...142123574.html

"So Trump now to plans to impose tariffs of 25% on all imported steel and 10% on all imported aluminum.

It’s hard to find an economist who thinks this is a good idea. The real question is how bad, and how dangerous, Trump’s tariffs might be. Nations affected by the tariffs are almost certain to retaliate with tariffs of their own on American exports. If that’s where it ends—trading partners doing nominal damage to each other’s economies, for purely political reasons—the economy will adapt. But if broader trade wars break out, with whole new classes of tariffs on a wide range of products, markets seem likely to heave, and business likely to slow or halt investment until it all sorts itself out."

"But it’s worth pointing out that the stock market is flat for the year, which is pretty unusual given that the tax cuts are expected to generate record corporate profits. Markets are adjusting to the possibility of slightly higher inflation, and most forecasters still think stocks will end handsomely higher in 2018. But that confidence dims with every tweet and utterance from the White House indicating Trump’s fondness for tariffs and his belief that “trade wars are good.”"

"The nonprofit group Trade Partnership analyzed Trump’s metal tariffs and found they’d generate 33,000 new jobs in steel and aluminum, but kill 179,000 jobs in other industries, because of the higher prices manufacturers buying those metals would have to pay. So a net loss of 146,000 jobs, just from two tariffs. That doesn’t include any ramifications of retaliatory tariffs by trading partners."

https://finance.yahoo.com/news/trump...222737600.html

"If you’re sympathetic to Trump’s view, you might think the United States needs to safeguard its steel and aluminum industries so there’s a ready supply of these raw materials when needed to build warships, tanks and fighter jets. But “buy America” laws already require the Pentagon to use domestic sources for most raw materials that go into weapons systems. And the Pentagon’s needs only account for about 3% of all domestic steel production. That suggests there’s plenty of steel for national security.

That’s unless you define national security much more broadly, which is basically what Trump is doing. A key Commerce Department report published in January argues that the nation’s roads, bridges, tunnels, ports and waterways form a “critical infrastructure” crucial to national security. And Trump now cites that report as the basis for protecting the domestic steel and aluminum industries. “It’s like saying a McDonald’s hamburger is critical to national security, because if I’m a soldier, I have to eat,” Hufbauer says. “It’s all BS.”

" Analysis by Chad Bown of the Peterson Institute finds that the steel and aluminum tariffs would hit Canada, the European Union, South Korea and Mexico—all strong U.S. allies, up till now—the hardest. Combined, they’d face about $8 billion per year in trading losses. China, which Trump railed against for unfair trade practices when he was a presidential candidate, would suffer just $689 million in annual trading losses."
Mar 08, 2018, 04:04 PM
Alarm Bells Softening!
Big Foot 48's Avatar
And the Dow closed up - so the market approves.
Mar 08, 2018, 04:07 PM
Registered User
Greybird's Avatar
Quote:
Originally Posted by dll932
https://finance.yahoo.com/news/trump...142123574.html

"So Trump now to plans to impose tariffs of 25% on all imported steel and 10% on all imported aluminum.

It’s hard to find an economist who thinks this is a good idea. The real question is how bad, and how dangerous, Trump’s tariffs might be. Nations affected by the tariffs are almost certain to retaliate with tariffs of their own on American exports. If that’s where it ends—trading partners doing nominal damage to each other’s economies, for purely political reasons—the economy will adapt. But if broader trade wars break out, with whole new classes of tariffs on a wide range of products, markets seem likely to heave, and business likely to slow or halt investment until it all sorts itself out."

"But it’s worth pointing out that the stock market is flat for the year, which is pretty unusual given that the tax cuts are expected to generate record corporate profits. Markets are adjusting to the possibility of slightly higher inflation, and most forecasters still think stocks will end handsomely higher in 2018. But that confidence dims with every tweet and utterance from the White House indicating Trump’s fondness for tariffs and his belief that “trade wars are good.”"

"The nonprofit group Trade Partnership analyzed Trump’s metal tariffs and found they’d generate 33,000 new jobs in steel and aluminum, but kill 179,000 jobs in other industries, because of the higher prices manufacturers buying those metals would have to pay. So a net loss of 146,000 jobs, just from two tariffs. That doesn’t include any ramifications of retaliatory tariffs by trading partners."

https://finance.yahoo.com/news/trump...222737600.html

"If you’re sympathetic to Trump’s view, you might think the United States needs to safeguard its steel and aluminum industries so there’s a ready supply of these raw materials when needed to build warships, tanks and fighter jets. But “buy America” laws already require the Pentagon to use domestic sources for most raw materials that go into weapons systems. And the Pentagon’s needs only account for about 3% of all domestic steel production. That suggests there’s plenty of steel for national security.

That’s unless you define national security much more broadly, which is basically what Trump is doing. A key Commerce Department report published in January argues that the nation’s roads, bridges, tunnels, ports and waterways form a “critical infrastructure” crucial to national security. And Trump now cites that report as the basis for protecting the domestic steel and aluminum industries. “It’s like saying a McDonald’s hamburger is critical to national security, because if I’m a soldier, I have to eat,” Hufbauer says. “It’s all BS.”

" Analysis by Chad Bown of the Peterson Institute finds that the steel and aluminum tariffs would hit Canada, the European Union, South Korea and Mexico—all strong U.S. allies, up till now—the hardest. Combined, they’d face about $8 billion per year in trading losses. China, which Trump railed against for unfair trade practices when he was a presidential candidate, would suffer just $689 million in annual trading losses."
Their it is. The sky is falling.
Mar 08, 2018, 04:17 PM
Registered User
Quote:
Originally Posted by big foot 48
and the dow closed up - so the market approves.
lol!
Mar 08, 2018, 04:18 PM
Really?
dll932's Avatar
Quote:
Originally Posted by Big Foot 48
And the Dow closed up - so the market approves.
For today, but the Dow isn't the market and the market isn't the economy anyway.
Mar 08, 2018, 04:23 PM
The higher the fewer.
BE77 Pilot's Avatar
Jobs report tomorrow....
Mar 08, 2018, 04:25 PM
Registered User
National defense/security is involved in establishing these tarriffs.

China is trying to decimate the USA.
China is building up their military at the highest rate!

I remember when Harley Davidson tried for AND got tariffs on Japanese motorcycles.
Many would be surprised at the current level of foreign parts and components in HD bikes!

SBSAM
Mar 08, 2018, 04:27 PM
It's 5 O'clock Somewhere
RumRunner_1492's Avatar
Quote:
Originally Posted by dll932
https://finance.yahoo.com/news/trump...142123574.html

"So Trump now to plans to impose tariffs of 25% on all imported steel and 10% on all imported aluminum.

It’s hard to find an economist who thinks this is a good idea. The real question is how bad, and how dangerous, Trump’s tariffs might be. Nations affected by the tariffs are almost certain to retaliate with tariffs of their own on American exports. If that’s where it ends—trading partners doing nominal damage to each other’s economies, for purely political reasons—the economy will adapt. But if broader trade wars break out, with whole new classes of tariffs on a wide range of products, markets seem likely to heave, and business likely to slow or halt investment until it all sorts itself out."

"But it’s worth pointing out that the stock market is flat for the year, which is pretty unusual given that the tax cuts are expected to generate record corporate profits. Markets are adjusting to the possibility of slightly higher inflation, and most forecasters still think stocks will end handsomely higher in 2018. But that confidence dims with every tweet and utterance from the White House indicating Trump’s fondness for tariffs and his belief that “trade wars are good.”"

"The nonprofit group Trade Partnership analyzed Trump’s metal tariffs and found they’d generate 33,000 new jobs in steel and aluminum, but kill 179,000 jobs in other industries, because of the higher prices manufacturers buying those metals would have to pay. So a net loss of 146,000 jobs, just from two tariffs. That doesn’t include any ramifications of retaliatory tariffs by trading partners."

https://finance.yahoo.com/news/trump...222737600.html

"If you’re sympathetic to Trump’s view, you might think the United States needs to safeguard its steel and aluminum industries so there’s a ready supply of these raw materials when needed to build warships, tanks and fighter jets. But “buy America” laws already require the Pentagon to use domestic sources for most raw materials that go into weapons systems. And the Pentagon’s needs only account for about 3% of all domestic steel production. That suggests there’s plenty of steel for national security.

That’s unless you define national security much more broadly, which is basically what Trump is doing. A key Commerce Department report published in January argues that the nation’s roads, bridges, tunnels, ports and waterways form a “critical infrastructure” crucial to national security. And Trump now cites that report as the basis for protecting the domestic steel and aluminum industries. “It’s like saying a McDonald’s hamburger is critical to national security, because if I’m a soldier, I have to eat,” Hufbauer says. “It’s all BS.”

" Analysis by Chad Bown of the Peterson Institute finds that the steel and aluminum tariffs would hit Canada, the European Union, South Korea and Mexico—all strong U.S. allies, up till now—the hardest. Combined, they’d face about $8 billion per year in trading losses. China, which Trump railed against for unfair trade practices when he was a presidential candidate, would suffer just $689 million in annual trading losses."
Since the first sentence of your article is 100% wrong it's safe to assume the rest of it is wrong as well.
Mar 08, 2018, 04:29 PM
The higher the fewer.
BE77 Pilot's Avatar
We all need to just sit back and let Trump MAGA.
Mar 08, 2018, 04:32 PM
Registered User
+1

sbsam


Quote:
Originally Posted by be77 pilot
we all need to just sit back and let trump maga.


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