Trump slaps 25% tariff on steel imports

Fogdog

Fogdog

Well-Known Member
In yet another recessionary action,

Trump announces steel and aluminum tariffs Thursday

President Trump on Thursday said he has decided to impose punishing tariffs on imported steel and aluminum in a major escalation of his trade offensive, disappointing Republican congressional leaders and inviting retaliation by U.S. trading partners.

Speaking at the White House, the president said he has decided on tariffs of 25 percent for foreign-made steel and 10 percent for aluminum.
https://www.washingtonpost.com/news/business/wp/2018/03/01/white-house-planning-major-announcement-thursday-on-steel-and-aluminum-imports/?utm_term=.bf5e66a40b60

Tariffs on steel and aluminum. Who will be most affected? China. After that, the US consumer in the form of inflation from companies rightly passing on higher cost just like they've done with every other tariff. Next up, other nations impose tariffs on US exports to their nation. Trade wars on the horizon. Manufacturers can move operations to avoid the US tariff. Inflation coupled with higher unemployment. Yuck.

Also Trump just signed a tax bill that makes us even more needy of China's largesse in the form of buying US debt.

Does this sound like a good idea?

 
Jimdamick

Jimdamick

Well-Known Member
Stocks dive after Trump promises tariffs on steel


NEW YORK (AP) — U.S. stocks dove in another dizzying day of trading after President Donald Trump promised on Thursday to deliver stiff tariffs on imported steel and aluminum, which raised the threat of escalating retaliation by other countries and higher inflation. The Standard & Poor's 500 index erased nearly all of its gains for the year.

Indexes had been bouncing between modest gains and losses earlier in the day, until Trump told industry executives around midday that they'll "have protection for the first time in a long while" and that he's planning to impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports next week.

European Commission President Jean-Claude Juncker said the European Union will take retaliatory action if Trump goes ahead with his plan. He vowed that "the EU will react firmly and commensurately to defend our interests."

This idiot has a ZERO chance of helping the fucking MAJORITY. of American citizens.

The days of seeing Pittsburgh, PA become again a powerhouse in steel production are fucking over, forever..

Now the EU, the fucking EU, is promising retaliatory measures?

Holy shit, I need a drink.

Be back later
 
Fogdog

Fogdog

Well-Known Member
Jimdamick said:
Stocks dive after Trump promises tariffs on steel


NEW YORK (AP) — U.S. stocks dove in another dizzying day of trading after President Donald Trump promised on Thursday to deliver stiff tariffs on imported steel and aluminum, which raised the threat of escalating retaliation by other countries and higher inflation. The Standard & Poor's 500 index erased nearly all of its gains for the year.

Indexes had been bouncing between modest gains and losses earlier in the day, until Trump told industry executives around midday that they'll "have protection for the first time in a long while" and that he's planning to impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports next week.

European Commission President Jean-Claude Juncker said the European Union will take retaliatory action if Trump goes ahead with his plan. He vowed that "the EU will react firmly and commensurately to defend our interests."

This idiot has a ZERO chance of helping the fucking MAJORITY. of American citizens.

The days of seeing Pittsburgh, PA become again a powerhouse in steel production are fucking over, forever..

Now the EU, the fucking EU, is promising retaliatory measures?

Holy shit, I need a drink.

Be back later
Click to expand...
I think it's called "conflict of interest"


 
G

gonnagro

Well-Known Member
Yep. If you recall I mentioned that US steel stocks were a good buy, (on sale), during the correction dip.
 
S

schuylaar

Well-Known Member
Jimdamick said:
Stocks dive after Trump promises tariffs on steel


NEW YORK (AP) — U.S. stocks dove in another dizzying day of trading after President Donald Trump promised on Thursday to deliver stiff tariffs on imported steel and aluminum, which raised the threat of escalating retaliation by other countries and higher inflation. The Standard & Poor's 500 index erased nearly all of its gains for the year.

Indexes had been bouncing between modest gains and losses earlier in the day, until Trump told industry executives around midday that they'll "have protection for the first time in a long while" and that he's planning to impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports next week.

European Commission President Jean-Claude Juncker said the European Union will take retaliatory action if Trump goes ahead with his plan. He vowed that "the EU will react firmly and commensurately to defend our interests."

This idiot has a ZERO chance of helping the fucking MAJORITY. of American citizens.

The days of seeing Pittsburgh, PA become again a powerhouse in steel production are fucking over, forever..

Now the EU, the fucking EU, is promising retaliatory measures?

Holy shit, I need a drink.

Be back later
Click to expand...

don't worry..it's early here on friday..Mueller still has plenty 'o time for another indict to drop before the weekend freaking the pedo out..you all know this is done on purpose, right?
 
Fogdog

Fogdog

Well-Known Member
gonnagro said:
Yea, but you never are, loser!
Click to expand...
LOL

Weak.

Tell me, assuming you have an income at all, why is the 1%'s tax break permanent and yours is temporary?

Timing the market is a fools errand. Your bluster reminds me of the gambler who always claims he breaks even after his trips to Reno or Las Vegas. Oh yeah, "Wall Street companies are big because they always put the customer first." LOL


Is this fake news?

U.S. Plan For Steel And Aluminum Tariffs Prompts Global Backlash
https://www.npr.org/sections/thetwo-way/2018/03/02/590165335/u-s-plan-for-steel-and-aluminum-tariffs-prompts-global-backlash

Do you know which countries have already broached raising retaliatory tariffs against the US?

China, Canada, Mexico, European Union, Germany, Australia, Brazil, Japan.

Tariffs are inflationary -- the expense is passed on to consumers. Manufacturers who are cost-sensitive to steel or aluminum will simply move operations offshore. In other words, jobs lost, prices of goods up. We haven't seen anything like this since the early 1980's. No wonder stocks are down. Trump is on the way to triggering a recession and inflation at the same time.
 
Excessive_Toker

Excessive_Toker

Well-Known Member
Fogdog said:
In yet another recessionary action,

Trump announces steel and aluminum tariffs Thursday

President Trump on Thursday said he has decided to impose punishing tariffs on imported steel and aluminum in a major escalation of his trade offensive, disappointing Republican congressional leaders and inviting retaliation by U.S. trading partners.

Speaking at the White House, the president said he has decided on tariffs of 25 percent for foreign-made steel and 10 percent for aluminum.
https://www.washingtonpost.com/news/business/wp/2018/03/01/white-house-planning-major-announcement-thursday-on-steel-and-aluminum-imports/?utm_term=.bf5e66a40b60

Tariffs on steel and aluminum. Who will be most affected? China. After that, the US consumer in the form of inflation from companies rightly passing on higher cost just like they've done with every other tariff. Next up, other nations impose tariffs on US exports to their nation. Trade wars on the horizon. Manufacturers can move operations to avoid the US tariff. Inflation coupled with higher unemployment. Yuck.

Also Trump just signed a tax bill that makes us even more needy of China's largesse in the form of buying US debt.

Does this sound like a good idea?
Click to expand...
You seem extremely unhappy residing in the U.S. What's preventing you from moving to say, Canada?
 
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