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Steel and aluminum tariffs
insinceredawg
Member Posts: 5,117
in Tug Tavern
Great move, Stable Genius. Stock market has dropped almost 500 pts since this was announced. MAGA!
https://www.nytimes.com/2018/03/01/business/trump-tariffs.html
https://www.nytimes.com/2018/03/01/business/trump-tariffs.html
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Nothing at all.
I kind of wish we just had a national sales tax vs income tax anyway. At least everyone pays for this tax.
All this would do is raise the price of steel and increase the cost new construction. Offer subsidies if you want to prop up US companies, tariffs are the worst of all worlds.
Thankfully, Trump didn't sign it today when he could have, so it will likely be added to the litany of shitty ideas he hasn't implemented.
Go kill yourself, you tax loving donkey.
https://www.usatoday.com/story/money/markets/2018/03/01/dow-drops-350-points-after-trump-says-steel-and-aluminum-tariffs-coming-next-week/385598002/
Fucking dumbass Trump cocksucker.
The EU has tariffs on Chinese steel. Call it a carbon tax. Production is going down in China as the dirty plants get closed, allegedly. Actually an interesting article.
China’s steel production growth is expected to slow sharply in 2018 as state-mandated factory closures and policies to protect the environment begin to bite.
The world’s largest producer of the metal will experience just a small rise in output of 0.6 per cent this year, a poll of 15 analysts found in a Financial Times survey.
Steel is often viewed as a barometer of economic activity because it is used in carmaking, construction and manufacturing, which means a significant price move could have repercussions for the broader economy.
For the steelmakers, the Chinese slowdown could have positive effects.
A modest increase in production from China, which accounts for about half the 1.7bn tonnes churned out worldwide, could restore balance to a global market that was ravaged by a collapse in prices two years ago due to oversupply.
Rod Beddows, of HCF International Advisers, said: “The total market appears to be reverting to a more stable ‘normal’ with Chinese exports under control.”
Steelmakers in the EU are expected to produce 2.4 per cent more as the economic recovery in many countries across the bloc gains strength. Brussels has similarly slapped tariffs on material deemed to be unfairly traded.
Under reforms of its bloated steel and coal sectors, Beijing has ordered the shutdown of the most inefficient and dirty mills. It has also imposed seasonal restrictions on a range of industries and large construction projects in a bid to reduce air pollution during winter.
Peter Archbold, senior director in the metals and mining team at Fitch, the rating agency, said: “We expect the capacity closures which have already taken place in China to continue to have a positive impact on steel markets globally in 2018.
“[These closures] have also lowered the volumes being exported, which has improved the market balance and domestic prices in other regional steel markets.”
You should sign up and get RICH
Our poutine-eating, hockey-loving brethren to the north and our mezcal and taco-making brethren to the south are the primary countries impacted, along with Brazil.
it may all be moot if China does join modern steel manufacturing. Their edge has been production like the US in the 19th century. Very dirty
And Trump's nut huggers.
You fit in both categories.