Author Topic: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum  (Read 36344 times)

Liberty

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Liberty

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John Hjorth

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #232 on: March 13, 2018, 02:23:32 PM »
How do my fellow board members perceive this situation right now, based on that the tariffs imposed was based "national security" considerations, while Mr. Trump after that has been tweeting like this.

What do you expect will happen if this one ends up in WTO?
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RichardGibbons

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #233 on: March 13, 2018, 03:32:43 PM »
What do you expect will happen if this one ends up in WTO?

I imagine he'll lose in the WTO, and if this is anything like the travel ban, Trump's tweets may hurt his case. That said, USA has been adding software lumber tariffs against Canada numerous times over the past 20 years, but then losing when Canada appeals. But even when USA loses the dispute after a few years, they've effectively provided a competitive advantage to their own industry and hurt Canada's, achieving their goal.

So, I don't think whether tariffs are just has anything to do with it. It doesn't matter if the rest of the world gets screwed or if the tariffs break international law.

Rather, it's all about Trump's brand--MAGA, protectionism, and criticizing trade deals. And Trump was completely upfront about this topic in his election campaign. Americans may suffer from inflation as a result of tariffs, but it really is simply Trump doing what he said he would.

While these tariffs are clearly bad news for American allies, I'm curious how the countries who aren't allies actually feel about this. Right now, nobody can match America's military and economic power. But by imposing tariffs, pulling out of trade agreements, and generally acting as an unreliable ally, America is weakening their own economic influence and increasing the relative attractiveness of trade deals with other countries. Russia's got to love that--they certainly gain significantly from this. Possibly China, too--it'll be targeted by tariffs, but over the long term, considerable value accrues as a result of countries being more likely to do deals with China than America. This has a reasonable chance of China, rather than America, becoming the dominant economic force in the Pacific.

CorpRaider

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #234 on: March 13, 2018, 04:21:59 PM »
Trump was completely upfront about this topic in his election campaign. Americans may suffer from inflation as a result of tariffs, but it really is simply Trump doing what he said he would.

True.  Didn't he say something today about China?  I hope the non allies will take steps to try and have a more balanced trade arrangement.  If not, who knows who will get elected next time.  It could be a lot worse than a gameshow host.

Value^2

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #235 on: March 14, 2018, 08:11:44 AM »
There you have it, now even some European companies has began to question the logic behind tariffs EU has put in place. It's just matter of time when those unelected bureaucrats will give up.

Volkswagen brand queries logic of EU import tax on U.S. cars
“You have to ask yourself why we in Europe demand a 10 percent tax on American cars. The Americans don’t do that,” Herbert Diess said on Wednesday at a news conference after the division reported results."
https://www.reuters.com/article/us-usa-trade-autos-germany/volkswagen-brand-queries-logic-of-eu-import-tax-on-u-s-cars-idUSKCN1GQ1D1


It's unlikely, that  one of the Germany's largest exporter would side with Trump if they thought he was wrong/unfair.
« Last Edit: March 14, 2018, 08:32:08 AM by Value^2 »

EliG

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #236 on: March 19, 2018, 09:51:13 AM »
Manufacturing owner, The Metalworking Group of Cincinnati:

https://twitter.com/MikeSchmittMWG/status/975752442540421122

"Well, just received a 35% increase from our old contract pricing for cold rolled carbon steel.  This is a shock.  It is unnecessary to be punished by our own government.

And, yes, this is USA steel not subject to the tariffs."

EliG

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #237 on: March 21, 2018, 07:47:47 PM »
Manufacturing owner, The Metalworking Group of Cincinnati:

https://twitter.com/MikeSchmittMWG/status/975752442540421122

"Well, just received a 35% increase from our old contract pricing for cold rolled carbon steel.  This is a shock.  It is unnecessary to be punished by our own government.

And, yes, this is USA steel not subject to the tariffs."

This story ended up in the WSJ Editorial:

https://www.wsj.com/articles/steel-tariff-blues-in-red-state-america-1521672773

back door link to get around the paywall:

https://t.co/ZoEI6u15br
« Last Edit: March 21, 2018, 07:52:03 PM by EliG »

Spekulatius

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #238 on: March 22, 2018, 04:25:00 AM »
Manufacturing owner, The Metalworking Group of Cincinnati:

https://twitter.com/MikeSchmittMWG/status/975752442540421122

"Well, just received a 35% increase from our old contract pricing for cold rolled carbon steel.  This is a shock.  It is unnecessary to be punished by our own government.

And, yes, this is USA steel not subject to the tariffs."

This story ended up in the WSJ Editorial:

https://www.wsj.com/articles/steel-tariff-blues-in-red-state-america-1521672773

back door link to get around the paywall:

https://t.co/ZoEI6u15br

The workaround will be to import finished goods made from steel, destroying way more jobs than will be created in the steel industry in the US. Trump will have to escalate the trade war to cast a much wider net, if he want to “win” this one.

Anyone has any idea for food shorts? ARNC (Al fabricator ) comes to my mind. They are also a huge supplier for Boeing, which would be a great target for Europeans or China, if the trade war escalates.
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Hawks

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Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Reply #239 on: March 22, 2018, 06:47:00 AM »
As the U.S. retreats from global free trade/agreements and isolates itself around walls and tariffs, China and Russia win big time imo. And your President doesn't seem to realize it.  Will be interesting to see how the American public reacts to all this.