Posted on 03/09/2018 4:45:09 AM PST by reaganaut1
Trump's tariffs are a bad idea.
President Donald Trump deserves applause for boosting the prospects for this country’s forgotten manufacturing workers, particularly in the steel and aluminum industries. Democrats lately have neglected these Americans. Hillary Clinton barely campaigned among them in Michigan during the 2016 general election, and she thoroughly ignored them in Wisconsin.
Alas, President Trump is doing this all wrong. He likely will hurt the very middle class that he has championed since his escalator ride onto the political stage.
Trump aims to protect U.S. metal makers with new taxes of 25 percent on foreign steel and 10 percent on overseas aluminum. “Tariffs” is just a jumped-up word for taxes on imports. Like other business taxes, these will trickle down through higher prices (average new cars: up an estimated $177; cars and appliances: up some 5 to 10 percent), lower wages, curbed output, and outsourcing.
These taxes will haunt metal-buying companies.
“This is a $347 million tax on America’s brewers,” Beer Institute CEO Jim McGreevy explained Monday on the Fox Business Network.
“We think the estimate for beer is about 20,000,” he said, referring to job losses tied to costlier aluminum cans. “That’s brewers, brewery workers, waitresses, bartenders, truck drivers. These are people that rely on a vibrant beer industry for their livelihoods.”
“Here’s a simple, ‘real-life’ impact of the tariffs,” a friend on the West Coast tells me. His metal-products company serves the aircraft and aerospace industries, among others. “In late January, we bid on a job, but didn’t get the purchase order until the end of February. Now we are ordering the raw material to fabricate the parts, and the price increases have killed our profits.”
(Excerpt) Read more at nationalreview.com ...
“Trump’s tariffs are a bad idea. “
No they’re not.
What would a Hillary Presidency have been like, NR? I’m for free trade generally, but I agree with him that VAT taxes on our exports don’t make it really free, so I’m willing to let him play this out for now and see if he can’t get us some better deals, even if it’s on foreign policy.
Oh goody. I know you were quite fine with Hillary because you could spend another 4 years basking in how pure a conservative you folks are. #nevertrumpers only have a moral high ground in their own minds. Then they come here here to tattle tale and take abuse for being dolts.
meh
This guy is so liberal it isn’t funny.
Tariffs on metals are great.
It’s been years since we could purchase quality American made metals. Buying metals in American has degenerated to an experience like shopping at Harbor Freight.
Crap quality but really good prices for that Chinese crap.
If Never Trump national review thinks they are a bad idea, they must be a good idea.
“Like other business taxes, these will trickle down through higher prices (average new cars: up an estimated $177; cars and appliances: up some 5 to 10 percent), lower wages, curbed output, and outsourcing. “
“Lower wages” and “Curbed output”...??
Nope. Just the opposite.
Who writes this crap?
And every government policy decision has winners and losers.
Who still reads this pack of lies ?
“If Never Trump national review thinks they are a bad idea, they must be a good idea.”
Yup.
The NR is so full of NeverTrumper Globalists they should change their name to Internationale Review.
Or maybe just: Internationale.
No they are not a bad idea but.... They need to proceed carefully, which I am sure they will. Thanks to all the previous commies in the government, we don’t don’t have the supply chain to support a massive shift back to US steel.
We need to be working on getting foundries and mills back on line asap. I have personally been involved in moving our products out of at least a dozen foundries that have closed in the last 10 years. This is a good first step, but they need to be working to bring things back online.
You may not agree with the author, but that doesn’t make this article a “pack of lies.” There’s a reason why the shares of all the major U.S. auto manufacturers DECLINED in the stock market after these tariffs were announced.
Such a bad idea then why will China lower their tariffs on US goods by 20%? While not the best deal, we knocked 100 billion off our trade deficit. That’s a good start.
“We think the estimate for beer is about 20,000,” he said, referring to job losses tied to costlier aluminum cans. “That’s brewers, brewery workers, waitresses, bartenders, truck drivers. These are people that rely on a vibrant beer industry for their livelihoods.”
Totally insane. Please keep posting these tantrums.
“Conservatives” have been all in on this “free trade” advice for decades. How is that working out? GREAT, for the socialist/totalitarian governments who NEVER reciprocate the “free trade.” For America, we are now a nation of tattoo parlors, pawn shops, massage store fronts, a gig economy fueled more by government checks, than an industrial backbone.
Isn’t this how the Depression started? High import tarrif’s and countries wouldn’t buy our stuff, manufacturers laid off people, mill shut down.
Great....more doom and gloom......
Do you think those foundries are going to open again, or are they going to be replaced by newer, more advanced facilities?
“Isn’t this how the Depression started?”
No.
Not even close.
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