Trump To Impose New Tariffs On Steel And Aluminum

Discussion in 'Politics, Religion, Social Issues' started by RootBeerMan, Mar 1, 2018.

Tags:
  1. RootBeerMan macrumors 65816

    RootBeerMan

    Joined:
    Jan 3, 2016
    #1
    For someone who says he's smart about trade and business Donald Trump really doesn't understand trade or economics and the consequences of tariffs. He's also ignoring the fact that there are already tariffs on imported steel and aluminum. He's just trying to start a trade war and we will not come out the winners in it. He is damaging the country with his asinine actions.

    https://www.nytimes.com/2018/03/01/business/trump-tariffs.html

    The market has already reacted to the moves by the idiot in chief.

    https://www.cnbc.com/2018/03/01/us-stocks-powell-fed-trump.html

    And even our closest trading partners and allies are talking about retaliation.

    http://thehill.com/regulation/international/376336-canada-threatens-retaliation-on-trump-tariffs

    Businesses are warning about severe price increases in products, like Toyota cars.

    http://thehill.com/policy/finance/i...new-trump-tariffs-will-cause-price-of-cars-to
    --- Post Merged, Mar 1, 2018 ---
    Reason makes a very good case that Republicans are no longer the party of free markets and free trade, if they ever really were.

     
  2. ericgtr12 macrumors 65816

    ericgtr12

    Joined:
    Mar 19, 2015
    #2
    Even Republicans are urging against this mainly because while we have the industry here, we can't produce nearly as much and it will cost way more. In the end it will hurt the consumer more than anything. It's a hefty price to pay to "stick it to the foreigners".
     
  3. 0007776 Suspended

    0007776

    Joined:
    Jul 11, 2006
    Location:
    Somewhere
    #3
    How long until trade wars turn into shooting wars?
     
  4. Leguna24 Suspended

    Leguna24

    Joined:
    Jun 29, 2017
    Location:
    Hamilton
    #4
    no worries, the trash will tell you that he's just trolling everyone again :)

    either way, it'll be hilarious to see how this goes down.
     
  5. Zenithal macrumors 604

    Joined:
    Sep 10, 2009
    #5
    Don't have to wait. It's been done before.
     
  6. ericgtr12 macrumors 65816

    ericgtr12

    Joined:
    Mar 19, 2015
    #6
    “When goods don’t cross borders, Soldiers will"
    ~Claude Frédéric Bastiat
     
  7. The-Real-Deal82 macrumors 604

    The-Real-Deal82

    Joined:
    Jan 17, 2013
    Location:
    Wales, United Kingdom
    #7
    A move like this would be devastating in my country and especially in the industry I work in. What is this idiot doing? So many people are perhaps going to lose their jobs over this. The steel and aluminium industry is vital and the very sector that often needs government help for the good of the country, not putting in the ground.
     
  8. Zenithal macrumors 604

    Joined:
    Sep 10, 2009
    #8
    Even more so for the users of said product. It's alright, though. I hear the coal industry is kicking and screaming to be let out...
     
  9. Rogifan macrumors Core

    Rogifan

    Joined:
    Nov 14, 2011
    #9
    Now he says trade wars are good and easy to win. Good god he’s a moron.
     
  10. RichardMZhlubb, Mar 2, 2018
    Last edited: Mar 2, 2018

    RichardMZhlubb Contributor

    RichardMZhlubb

    Joined:
    Nov 26, 2010
    Location:
    Washington, DC
    #10
    It is amusing to hear Republican Senators apoplectic about this. Trump was fine with them when he was their useful idiot, but now that his incompetence leads to policies they don’t like they really can’t complain. Play with fire and you get burned.
     
  11. Stella macrumors G3

    Stella

    Joined:
    Apr 21, 2003
    Location:
    Canada
  12. samcraig macrumors P6

    Joined:
    Jun 22, 2009
    Location:
    USA
    #12
    He's a moron

    The steel industry wasn't hurting

    All this means is that makers of steel will do ok, meanwhile anyone who needs to use steel will pay premiums. Watch consumer goods skyrocket if this goes into effect.
     
  13. Stella macrumors G3

    Stella

    Joined:
    Apr 21, 2003
    Location:
    Canada
    #13
    The US doesn't manufacturer enough steel for its own needs, and that isn't going to change soon. US industry will be forced to import steel at higher costs, and those costs are passed to consumers of course.

    I'm wondering what the probability is that some heavily dependant steel consuming companies will move manufacturing to other countries to reduce costs?

     
  14. samcraig macrumors P6

    Joined:
    Jun 22, 2009
    Location:
    USA
    #14
    Agreed. I might not have been as eloquent.

    In short - companies that USE steel in the US are going to suffer.
     
  15. cube macrumors P6

    Joined:
    May 10, 2004
    #15
  16. VulchR macrumors 68020

    VulchR

    Joined:
    Jun 8, 2009
    Location:
    Scotland
    #16
    Kinda like the effects of Brexit...

    Seriously, though, I hope that this is targeted at specific countries (e.g., the PRC, which have subsidised steel ridiculously) rather than being a global tariff on any imported steel/aluminium. Indeed, I think current trade regulations require such punitive measures to be country-specific, but perhaps somebody more knowledgeable can comment.
     
  17. samcraig macrumors P6

    Joined:
    Jun 22, 2009
    Location:
    USA
    #17
  18. cube macrumors P6

    Joined:
    May 10, 2004
    #18
    The announcement already crushed global markets.
     
  19. samcraig macrumors P6

    Joined:
    Jun 22, 2009
    Location:
    USA
    #19
    I think prematurely. But it should be a warning sign for Trump that making these types of "side" comments without a fully baked plan will hurt more than help.
     
  20. cube macrumors P6

    Joined:
    May 10, 2004
    #20
    It is also a warning sign for investors.
     
  21. 0007776 Suspended

    0007776

    Joined:
    Jul 11, 2006
    Location:
    Somewhere
    #21
    You would think Trump would be smart enough to know not to make Congress too mad at him since there’s plenty there to impeach him with his sketchy business ties, and the Russia investigation. For now his party being in control of Congress protects him, but if he spouts off too much about things counter to the Republican mainstream he runs the risk of the GOP deciding that President Pence sounds better than President Trump.
     
  22. RootBeerMan thread starter macrumors 65816

    RootBeerMan

    Joined:
    Jan 3, 2016
    #22
  23. chagla macrumors 6502a

    chagla

    Joined:
    Mar 21, 2008
    #23
    hey guys, nothing to see here... just a regular guy selling $32m worth share just days before... move on

    https://www.theguardian.com/busines...-sell-trump-steel-tariffs-announcement-timing

    EU will be imposing tariffs on American imports.
     
  24. Rogifan macrumors Core

    Rogifan

    Joined:
    Nov 14, 2011
    #24
    So they threw billionaire Wilbur Ross on TV to say:

    [​IMG]

    My god the White House is full of morons.
     
  25. RichardMZhlubb Contributor

    RichardMZhlubb

    Joined:
    Nov 26, 2010
    Location:
    Washington, DC
    #25
    Not directly relevant, but he's not a billionaire.

    In any normal administration, this would probably be grounds for an embarrassing resignation, but, under Trump, it's just par for the course.
     

Share This Page

48 March 1, 2018