China announces tariffs on 128 commodities

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Wabash
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Re: China announces tariffs on 128 commodities

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The Washington Post had a great article on the meeting Commerce Sec. Ross had with the Senate Finance Committee.

Amongst the concerns;
“Corn, wheat, beef and pork are all suffering market price declines . . . due to current trade policies,” complained Sen. John Thune (S.D.). “With every passing day, the United States loses market share to other countries.”

Sen. Charles E. Grassley (Iowa) said “we watched the soybean market start to collapse” because of trade-war concerns.

Sen. Rob Portman (Ohio) warned about steel and auto producers in Ohio, “hit harder than any other state by the Canadian retaliatory tariffs.”

From Pennsylvania, Sen. Patrick J. Toomey cautioned that Kraft-Heinz may move its ketchup production to Canada to avoid retaliatory tariffs.

Sen. Johnny Isakson (Ga.) put in a plea over Coca-Cola’s rising aluminum can costs.

Sen. Orrin G. Hatch of Utah warned that contracts have dried up for a steel fabricator in his state because of the tariffs, and “multibillion-dollar investments for new manufacturing plants that employ thousands of workers are also being put at risk.”


When asked to respond.
Asked whether he believed, as several of the senators did, that the United States is in a trade war, Ross was breezy: “As the president has often said, we’ve been at a trade war forever. The difference is that now our troops are coming to the ramparts.”
As long as the citizens of those states continue to support Trump why should the administration change course?
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: China announces tariffs on 128 commodities

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Wabash wrote: As long as the citizens of those states continue to support Trump
In one of the earliest focus group of 2016 pollster Frank Luntz said that Trump voters wanted "revenge". In the short run punishing China, getting back at China is the dominant factor. The long run consequences won't matter because Trump/right wing media will give them something else to be pissed about.
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Re: China announces tariffs on 128 commodities

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I'll try to find it. I just read an article that said a lot of Trump supporters are more worried about losing their racial identity than economics.

They fear that whites will no longer be the top of the social pecking order.
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: China announces tariffs on 128 commodities

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Please don't post it in this thread, since it has nothing to do with the topic. Sort of like your post.
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Re: China announces tariffs on 128 commodities

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Two articles on the same topic....

At the Borusan Mannesmann mill in Baytown, Texas, which manufactures steel pipe and tube products, workers penned letters to President Donald Trump on Tuesday, imploring the administration not to carry out the tariffs on steel and aluminum.

"We need this company to grow even more," Roger Jaime, a worker at the mill, told KHOU's Levi Ismail, as he and other workers wrote postcards to the White House and to other lawmakers to ask for relief.
https://www.cbsnews.com/news/steel-work ... l-tariffs/

Labor unions are lauding President Trump's announcement of tariffs on steel and aluminum imports, which have been highly criticized by most businesses, saying the move would help U.S. workers.
The United Steel Workers, which has long called for such actions, said "it's about time" and mounted an extended defense of the tariffs from critics. "#Steelworkers have fought for action like this for decades. We want to work with the administration as it finalizes relief to ensure that cheaters are held accountable so we can rebuild our nation’s manufacturing sector & protect national security.
https://www.washingtonexaminer.com/unio ... el-tariffs

Somebody is wrong on this...
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Re: China announces tariffs on 128 commodities

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The part you didn't cite at the top of the article explains it:

"Tariffs on steel and aluminum imports imposed by the Trump administration have workers in mills that use those raw materials to build other products concerned about the future of their jobs."

They don't manufacture steel, they buy Chinese steel to make pipes and tubes, so the tariffs will increase their costs.

Whether Trump intended it or not, the tariffs will put financial pressure on such American businesses. They could switch to US-produced steel, but that price is also higher than what they've been paying. And of course that also goes for all other domestic consumers of steel as well. Funny how you never hear Trump talking about that.

Steel makers, however, are very happy with the tariffs.
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Re: China announces tariffs on 128 commodities

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Trump said trade wars are easy to win.
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: China announces tariffs on 128 commodities

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It's easy to declare victory, that's not the same as "winning"

He can add it to his long list of other pretend "wins"...
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Re: China announces tariffs on 128 commodities

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Meanwhile..

WABE Radio reports Mercedes-Benz USA this month opened its new North American headquarters in Sandy Springs, Georgia, for 1,000 employees

German car factories in the U.S. made more than 800,000 vehicles last year, and about half were sold overseas, according to the German Association of the Automotive Industry.

This month, Volkswagen of America Inc. announced plans to build a new five-passenger SUV at its factory in Chattanooga, Tennessee, where it manufactures other vehicles. Volkswagen AG is based in Wolfsburg, Germany.

The concern among some industry experts is that tariffs on steel could hurt companies like Mercedes-Benz, Volkswagen and Porsche, all of which have significant operations in the South,
http://www.tuscaloosanews.com/news/2018 ... o-industry
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Re: China announces tariffs on 128 commodities

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Full speed ahead Donald. This is the change his supporters demand.
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: China announces tariffs on 128 commodities

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All over a billion!!?
Image
The European Union has imposed additional tariffs of 25% on products such as motorcycles, orange juice, bourbon, peanut butter, cigarettes and denim — part of its response to the Trump administration's tariffs on steel and aluminum exports from Europe.
http://money.cnn.com/2018/06/22/news/ec ... index.html
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Re: China announces tariffs on 128 commodities

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Just for information, how states will be affected by China's tariffs:

Image
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Re: China announces tariffs on 128 commodities

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I thought those tariffs were targeting Trump states.
Washington, California, Illinois?
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Re: China announces tariffs on 128 commodities

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It's in dollars, so some could be more (or less) severe than they look.
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Re: China announces tariffs on 128 commodities

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Professor Fate wrote: I thought those tariffs were targeting Trump states.
Washington, California, Illinois?
They are, but we wouldn't want Trump voters in blue states to feel left out, would we?

States over $1 billion:

Texas
Louisiana

Washington
California

Alabama
South Carolina

Illinois
Kentucky

Red: $20.8B
Blue: $11.9B

The next ten:

Michigan
Ohio
Tennessee

Virginia
Oregon

Pennsylvania
North Carolina
Mississippi
Georgia
Kansas
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Re: China announces tariffs on 128 commodities

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Trump's tariffs were designed specifically to not be felt directly at the consumer level, but so far, besides Harley-Davidson' offshoring, the price of NEST thermostats will be going up. I guess they fall under the same category as "industrial thermostatic devices" or something. But only west-coast elitist bleeding hearts buy them anyway, so who cares.

There's also a company in Missouri that makes nails that had its business fall off by 70% because of the price increases from having to switch to American-made steel. They're predicting going out of business and laying off 500 workers by the end of Summer. In the heart of Trump country.
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Re: China announces tariffs on 128 commodities

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The Chinese have also cleverly targeted soybeans for tariffs. Eight of the top ten soybean exporting states went for Trump, and even in the two that Hillary won the soybean farmers there overwhelmingly voted for Trump. Soybean prices dropped to a 9-year low after the tariffs were announced and the industry foresees over a half a billion dollars in losses in a trade war
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Re: China announces tariffs on 128 commodities

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Canada joins the coalition of the unwilling - in retaliation for Trump's steel tariffs it has imposed tariffs on a variety of US exports worth 12.5 billion dollars
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Re: China announces tariffs on 128 commodities

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Something I doubt Don notices about his tariffs - he made it harder for most of the rest of the world to do business here and they make it harder for American firms to do business with them, but that makes doing business with each other much more attractive. There could be some great opportunities for China and the EU from this. China's the world's biggest market, not us, and he'll be making European goods look that much more attractive there.
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Re: China announces tariffs on 128 commodities

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Steve Mnuchin is offended that Canada is imposing tariffs targeted on a variety of goods that will have a much greater impact than just reciprocal tariffs on steel alone

Welcome to the Trade War, boys :lol:
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