Steel Tariffs

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Professor Fate
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Re: Steel Tariffs

Post by Professor Fate » Sun Mar 04, 2018 10:58 pm

Make Them Cry Again In 2020

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Omar Bongo
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Re: Steel Tariffs

Post by Omar Bongo » Sun Mar 04, 2018 11:09 pm

I read where there are about 150,000 steel industry workers that could possibly benefit from tariffs and about 6.5 million employees of businesses that use steel and aluminum that would be negatively impacted. Not even counting US consumers...

Has anyone connected these dots- there is a special election for a Republican-held House seat in SW Pennsylvania on March 13 that's currently rated a tossup. Could he have announced this dumb idea, screwed the stock market and pissed off most of our allies solely in hopes of nudging the Republican across the finish line? I wouldn't put it past him...
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Professor Fate
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Re: Steel Tariffs

Post by Professor Fate » Sun Mar 04, 2018 11:13 pm

That would make sense if both candidates hadn't endorsed the tariffs.

Both Lamb and Saccone said they support President Trump's plans to slap tariffs on imported steel.

http://www.wtae.com/article/conor-lamb- ... e/19071231
Make Them Cry Again In 2020

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Omar Bongo
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Re: Steel Tariffs

Post by Omar Bongo » Sun Mar 04, 2018 11:27 pm

That was a given. The idea was to motivate Republicans to get out and vote.
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John Q. Public
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Re: Steel Tariffs

Post by John Q. Public » Sun Mar 04, 2018 11:31 pm

WHAAAAAT? Politicians from Western Pennsylvania saying what steelworkers want to hear, regardless of it making sense to anybody who knows anything about math? Wow! What a surprise!
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Omar Bongo
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Re: Steel Tariffs

Post by Omar Bongo » Sun Mar 04, 2018 11:54 pm

Was reading up and came across this in an article about the special election on the Pittsburgh Tribune-Review site...George F. Will is one cold-hearted mo-fo :lol:

"The national GOP under its current live-wire leader, Stormy Daniels' acquaintance, is decreasingly convincing as a vessel of social conservatism, but at least it still opposes deficit spending and protectionism."
"Trump is what he is, a floundering, inarticulate jumble of gnawing insecurities and not-at-all compensating vanities, which is pathetic."
George Will

"How stupid is our country?"
Donald Trump

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Wabash
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Re: Steel Tariffs

Post by Wabash » Mon Mar 05, 2018 6:11 am

Professor Fate wrote:QR_BBPOST Navarro says that if Trump takes no action, the US Aluminum industry will be gone in 1 or 2 years, and the steel industry in 4 or 5 years.
Isn't that the effect of the laissez faire economic theory conservatives claim to embrace?

Now they embrace government interference.

The hypocrisy continues.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

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Re: Steel Tariffs

Post by Tommy Tar » Mon Mar 05, 2018 11:48 am

Ohio, WV, Michigan, Indiana and Wisconsin. President Trump needs these states to stay red in 2020. The Democrats have been promising "green jobs" to these people for 15 years. :eh?: If people have jobs and their income is going up these states stay red.
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Re: Steel Tariffs

Post by broman » Mon Mar 05, 2018 12:13 pm

The good ole' aint' coming back...

Technological improvements have enabled steelmakers to crank out more metal with far fewer workers.

"Steelmaking processes have transformed at a rapid pace, reflecting the industry’s improvement in operating practices and investment in state-of-the-art equipment to increase productivity," the report stated. "In 2015, one employee accounted for approximately 1,000 net tons of raw steel production, an increase of 20 percent."

According to the American Iron and Steel Institute, "labor productivity has seen a fivefold increase since the early 1980s, going from an average of 10.1 man-hours per finished ton to an average of 1.9 man-hours per finished ton of steel in 2014."

http://www.nwitimes.com/business/steel/ ... 69877.html

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Re: Steel Tariffs

Post by John Q. Public » Mon Mar 05, 2018 12:20 pm

Except the steel industry isn't as labor-intensive as it was when American steel was strong. And machines don't vote.

Well thought out tariffs could be useful but we know Donald isn't too big on even thinking half way through things. The unintended consequences of a 25% across-the-board tariff will likely be much bigger than the intended ones. Which won't help Republicans at all with the "Let's give him a shot and see what he can do" Rust Belt voters.
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Re: Steel Tariffs

Post by broman » Mon Mar 05, 2018 2:53 pm

But.... looking at the data, Obama held on to the Rust Belt with unemployment numbers between 7 and 8% in 2012 but Hillary lost those states when all economic indicators were better in 2016. The Trump placebo effect at work?

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Re: Steel Tariffs

Post by John Q. Public » Mon Mar 05, 2018 3:21 pm

Economic indicators were better overall, but they were still bad in the Rust Belt. Hillary ignored the area except to call the people names and alienate them. Donald played to them and spoke their language and still is. Maybe a placebo but not in the way you're implying.
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Tommy Tar
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Re: Steel Tariffs

Post by Tommy Tar » Wed Mar 07, 2018 2:08 pm

https://www.wsj.com/articles/u-s-steel- ... 1520430223

Some U.S. steel and aluminum makers are restarting idle mills and ramping up capacity to make up for imports that face being priced out of the market if President Donald Trump’s proposed import tariffs take hold.

United States Steel Corp. X 2.60% on Wednesday said it would fire up a blast furnace in Granite City, Ill., and call back 500 workers. Century Aluminum Co. CENX 3.91% said last week it will restart lines at a smelter in Kentucky that have been curtailed since 2015, doubling its workforce there to 600.

“Our Granite City Works facility and employees…have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets,” U.S. Steel Chief Executive David Burritt said. The company had idled the furnaces and laid off hundreds of workers in 2015 as a flood of cheap imports pushed down domestic prices.
=snip=

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Omar Bongo
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Re: Steel Tariffs

Post by Omar Bongo » Wed Mar 07, 2018 4:02 pm

800 jobs...congratulations.

Care to guess how many jobs will be lost due to retaliatory tariffs announced by the the European Union alone, whose list targets imports from the U.S. of shirts, jeans, cosmetics, other consumer goods, motorbikes and pleasure boats worth around 1 billion euros; orange juice, bourbon whiskey, corn and other agricultural products totaling 951 million euros; and steel (yes, steel) and other industrial products valued at 854 million euros?
"Trump is what he is, a floundering, inarticulate jumble of gnawing insecurities and not-at-all compensating vanities, which is pathetic."
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Re: Steel Tariffs

Post by Fordama » Wed Mar 07, 2018 4:26 pm

https://www.twice.com/product/electrolu ... al-tariffs

Electrolux has put on hold a planned $250 million-plus investment in its Springfield, Tenn., kitchen appliance plant after President Trump announced his intention to impose sharp tariffs on imported steel and aluminum.

The Swedish majap maker told Reuters it has postponed any capital improvements at the manufacturing facility pending further details from Washington.
This country of the United States was not built by those who waited and rested and wished to look behind them.---JFK

broman
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Re: Steel Tariffs

Post by broman » Wed Mar 07, 2018 8:12 pm

Little History...

When George W. Bush tried to save the steel industry in 2002 by raising tariffs on selected steel products, many Republicans and business groups say the result was a disaster. More jobs were lost than saved. The states he sought to help suffered. And in the end, the tariffs were overturned.

Sen. Lamar Alexander (R-Tenn.) tried to use that history as a cautionary tale last month. In a televised White House meeting with Trump, he described how after Bush’s tariffs were put in place, auto-parts manufacturers left the U.S. so they could make their parts with cheaper steel and then ship them back to the U.S. — cutting jobs for American workers while also avoiding tariffs.

"We found there were 10 times as many people in steel-using industries as there were in steel-producing industries,” Alexander said. “They lost more jobs than exist in the steel industry."

For Dave Arndt, president and CEO of Pentaflex, an auto-parts manufacturer based in Springfield, Ohio, those days are a painful memory.

At the time, he was working for another supplier that had a contract with one of the Big Three automakers. The company’s situation deteriorated rapidly when Bush imposed the steel tariffs and its customer balked at absorbing the higher cost.

“We buy about 15 percent of our steel from Canada and about 5 percent from Korea. So if there was to be a tariff on Korea or Canada, that would dramatically affect my business as well,” Arndt said.

The Bush tariffs were costly to consumers, too. A January 2003 study by the Peterson Institute for International Economics estimated that the steel tariffs may have temporarily increased steel industry employment by around 3,500 workers — but at a cost to consumers of around $400,000 per job.
https://www.politico.com/story/2018/03/ ... ush-391426

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John Q. Public
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Re: Steel Tariffs

Post by John Q. Public » Wed Mar 07, 2018 8:30 pm

140,000 jobs in steel and aluminum production, 6.5 million in steel and aluminum dependent jobs, including those pawns in Donald's reality show/campaign stunt in Indiana.

According to a study done by the Brookings Institution for Marketwatch, states with the most disproportionate number of jobs at risk (jobs in the metals industries vs. jobs dependent on metals) are Missouri, Louisiana, Connecticut, Maryland and Arkansas.

The top five states employing people in steel and aluminum production (current jobs/jobs at risk):
Indiana - 22,840 / 306,986
Pennsylvania - 14,945 / 267,275
Ohio - 11,400 / 410,301
Michigan - 8,717 / 401,079
Texas - 7,685 / 496,039

California is 8th at 6,597 and 473,773.

https://www.marketwatch.com/story/here- ... 2018-03-06
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Re: Steel Tariffs

Post by Wabash » Thu Mar 22, 2018 9:00 am

Trump is getting ready to enact tariffs. I predict this could be a potential response.
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Re: Steel Tariffs

Post by John Q. Public » Fri Jun 01, 2018 12:29 am



:mrgreen:
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Re: Steel Tariffs

Post by broman » Mon Nov 26, 2018 9:10 pm

It begins....

(GM) the automaker said on Monday it would make overhauls that would lead to $6 billion in cost reductions by 2020, including shuttering up to five plants in the US and Canada and slashing 15 percent of its salaried workforce, a total of some 14,700 jobs. Key components of the plan: idling five assembly plants, including one in Canada, two in Ohio, one in Michigan, and one in Maryland, and reducing its salaried and salaried contract staff by 15 percent, including 25 percent fewer executives.

There are a confluence of factors behind GM’s decision — changing consumer demands, production costs, trade — some of which are tied to Trump, and some of which aren’t.

The tariffs on aluminum and steel imports the Trump administration imposed earlier this year may have also been a factor, as GM and other automakers have been clear they’re bad for business. Ford CEO James Hackett said in September that tariffs cost the company about $1 billion in profit. GM warned in June that they could lead to a “reduced presence” in the US and abroad and risk less US jobs.
https://www.vox.com/business-and-financ ... iffs-trump

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