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Economics Discuss Trump says U.S. to impose hefty tariffs on steel, aluminum imports at the Political Forums; here we go. look for your products with steel and aluminum in them to go up in price. yay. https://www.yahoo.com/finance/news/t...141528279.html ...

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Old 03-01-2018, 03:27 PM
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Default Trump says U.S. to impose hefty tariffs on steel, aluminum imports

here we go. look for your products with steel and aluminum in them to go up in price. yay.


https://www.yahoo.com/finance/news/t...141528279.html

Quote:
WASHINGTON (Reuters) - U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China.
Quote:
After Trump's statement, AK Steel Holding (AKS.N) was up almost 12 percent, U.S. Steel Corp (X.N) was up 8 percent and Nucor (NUE.N) rose 3.6 percent. By contrast, industrial stocks such as Boeing fell, with traders citing tariffs, which would hit manufacturers' costs.
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Old 03-01-2018, 04:19 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

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Originally Posted by Gordon Shumway View Post
here we go. look for your products with steel and aluminum in them to go up in price. yay.


https://www.yahoo.com/finance/news/t...141528279.html
As if the stock market wasn't volatile enough already! Hopefully he has something up his sleeve.
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Old 03-01-2018, 07:09 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

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As if the stock market wasn't volatile enough already! Hopefully he has something up his sleeve.
he does. itís called tariffs. this isnít new. and likely wonít be his last push for tariffs.
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Old 03-01-2018, 07:27 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

Quote:
WASHINGTON (Reuters) - U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China.
Trump The Ignorant strikes again.

The US steel industry predominately ended the production of mild steel years ago allowing that market to be filled from foreign countries. It's a high volume low profit industry and the US producers were using equipment and technology from the early 20th Century while foreign producers starting production after about 1960 were using state of the art (at the time) facilities that produce more mild steel at a lower cost than the older US equipment could compete with. To compete the US steel companies would have had to scrap their existing plants and build all new ones. That just wasn't cost effective because the US steel producers found something else that the could produce.

Low volume high profit alloy steel! These steels need very precise control of the alloy agents and the US producers could maintain that high quality requirement. The steel is very expensive because it's a low volume run each time and the steel has very a very limited market but the steel is so special that it can't be realistically replaced with something else. This would include special steel alloys like 15-5 and 13-9 high nickel steel used in aerospace because of it's extremely high strength properties.

The US steel industries just not geared up to produce the high volume low profit mild steel that is the most commonly used steel. It doesn't have the facilities and the cost of new facilities that meet the air quality standards is prohibitive. They don't care how much the tariff is because they can't build the facilities and produce the steel for less than the cost of the imported steel with the tariff added.... and they don't want to anyway.

Trump is just so ignorant because he doesn't realize that the US does some things better than other countries so we do that work here and export it. Sometimes other countries do thing better than us and then we import their products. Tariffs don't change that.
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Old 03-01-2018, 08:57 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

If only I had bought X and STLD yesterday.
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Old 03-01-2018, 09:33 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

Trump talked about starting up new Tariffs and the like during the campaign.

Among other things, it never made much sense to me.
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Old 03-02-2018, 11:09 AM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

I think something else will be negotiated, especially with the Chinese.

I think he is sandbagging with the 25% and 10% and has something else
up his sleeve.

Hopefully something that will work a little better for us.

How about a steel wall on our southern border with Chinese steel and a 10% tariff? Very big project, they may go for it, and save us a shlt load of money.
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Old 03-02-2018, 11:20 AM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

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Originally Posted by Dog Man View Post
I think something else will be negotiated, especially with the Chinese.

I think he is sandbagging with the 25% and 10% and has something else
up his sleeve.

Hopefully something that will work a little better for us.

How about a steel wall on our southern border with Chinese steel and a 10% tariff? Very big project, they may go for it, and save us a shlt load of money.
Tariffs are how you have a successful negotiation. We have threatened them for decades and never put them in place. When we negotiated trade deals, that bargain chip was therefore useless.
And we got the bad end of the deal.

Really, there is an art to it. Read the book!
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Old 03-02-2018, 11:54 AM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

Mixed reviews from the industry.

https://www.newsmax.com/finance/stre...r=010502ryjjy0


https://www.newsmax.com/finance/stre...r=010102kfhqdm
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Old 03-02-2018, 07:20 PM
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Default Re: Trump says U.S. to impose hefty tariffs on steel, aluminum imports

I'm still pissed that US citizens pay over 30% more for sugar than the world avg cost because of trade/tariffs enacted by the JonesĖCostigan Act in 1934. WWII tariff that still exists. Heck, Canadians pay less for sugar than we do and they can't even grow sugar cane in Canada.

I don't drink much soda, but when I want a Coke I buy one imported from Mexico because it is made with cane sugar, not high fructose corn sugar.
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