Posted on 01/24/2018 6:21:35 AM PST by reaganaut1
South Carolina, a state that strongly backed President Donald Trump, isn’t happy about his move to impose hefty tariffs on imported washing machines.
That is because Samsung Electronics Co. recently started production at a $380 million manufacturing plant in the state, hiring 600 employees and promising to expand as it increases production for the U.S. market.
Republican Gov. Henry McMaster and other GOP state leaders expressed concern that the tariffs announced Monday would slow production at the new factory and have a chilling effect on investment.
Gov. McMaster had traveled repeatedly to Washington, D.C., to lobby against the tariffs, telling the International Trade Commission last fall that Samsung is becoming a domestic industry. A spokesman said the governor is “obviously disappointed” and would continue to fight for South Carolina jobs.
U.S. Rep. Mark Sanford, a Republican, said Monday that protectionist policies and tariffs, while politically popular, are economically dubious. “This is a mistake,” he said.
(Excerpt) Read more at wsj.com ...
FUD.
We are in a trade war if we want to be or not.
who is this stupidass?
THIS GUy IS A MORON- TARRIFS WOULD IMPROVE SALES OF GOODS MANUFACTURED HERE (IN THiS NEW FACTORY)!~
DUHHHHHHHHHHHHHHHHHHHH~!!!!!!!!!!!!!!!!!!!!
Would there be tariffs on washing machines made in the U.S.? I’m confused.
This is just stupid whining and bitching. The washing machines they make in SC won’t be subject to the tariff. If anything, this gives them incentive to make more in SC.
Republican are so stupid and brainwashed over free trade. Tariffs on imports INCREASE domestic profits and demand. What is so hard to get about this? Both parties are globalist in nature and serve maybe 25% of the population. We need a Patriot Party. Patriots love import tariffs, like the Republicans of yore.
Not sure, but isn’t he referring to tariffs on parts that Samsung imports for this factory?
It looks to me like he’s trying to protect this one factory, at the expense of the overall economy.
I hope that you are correct. Although it might be something where if the company if primarily foreign-owned, it would still have a tariff imposed. But I have no idea. But perhaps it is a way to keep the profit from going back to South Korea or wherever? Except one would think we would be encouraging foreign investment in factories in the States and our workers.
I know that China is making Boeing build a lot more parts in China in order to be allowed to sell planes to the Chinese.
How do tariffs improve our manufacturing and sales?
There is no tariff on domestic made product. That’s the whole point. Duh. If the GOPe is full of dumbasses like this there IS NO HOPE.
Yeah that doesn’t make sense.
I couldn’t read it without an account. I found another source that I think is the same article. https://www.morningstar.com/news/dow-jones/TDJNDN_201801234830/south-carolina-home-to-new-samsung-factory-is-disappointed-by-new-tariffs.html . Heading over to try reading it, if I get the time.
When a foreign company builds a product for roughly 1/2 the price of a US company, they can sell if for considerably less than the US. A tariff brings the cost of the foreign product to a competitive price making the US built product a more viable option and considering that the US built product may be better constructed, would increase the chance of sale and therefore increase demand.
WTH?
If manufactured in the US and no customs, no tariff, right?
Am I missing something? We don’t tax imported B2B parts do we?
Is McMaster lobbying for the Samsung corporation?
There won’t be tariffs of the parts since they are not being freely sold as parts at the expense of domestically equivalent parts. So Samsung should not be worried about domestically made washing machines being “tariffed”!
Mark Sandford? MARK SANDFORD?
Haven’t you guys in SC learned anything from repeated failures like Linda and Mark?
I believe the “Rules of Orgin” come into play here. Samsung might be shipping a high percentage of the parts to the plant in SC for final assembly. Depending on how high the % is, it would be considered a South Korea product even though it was made in the US.
Yeah, it is a little work to set up and maintain the zones because the government needs to ensure they aren't just passed through and sold as parts marked "made in the USA".
There are all sorts of tricks in the book to Americanize what is mostly foreign content and, no matter which party is in charge, the boys and girls in the inspection bureaucracy want to make sure the government isn't being cheated out of its nickle.
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