Posted on 03/01/2018 12:19:46 PM PST by nickcarraway
Stocks got slammed Thursday as President Trump said he will impose stiff new tariffs on steel and aluminum imports.
Looking to get tough on overseas competitors like China, Trump said the US will impose tariffs of 25 percent on steel and 10 percent on aluminum, sending the Dow Jones industrial average plunging more than 500 points. The president is looking to make good on a key campaign promise despite opposition from some inside the White House who fear the tariffs could spark a trade war.
By 2:04 p.m., the blue-chip index was down 517.41 points — or 2 percent — to 24,511.79. The broader S&P 500 and Nasdaq were down 1.4 percent and 1.9 percent, respectively.
(Excerpt) Read more at nypost.com ...
It closed down 1%. 300 some points. Hardly a crash. definitely a reaction. Not mix of a crisis.
Did the stock market go down when Obama did his tariffs? This policy was just taken from Obama.
Buy low...
Good time to buy if you believe in the underlying strength of the Trump economy.
Crash? There’s nothing quite like the NY Post and it’s constant barrage of hyperbole.
fear the tariffs could spark a trade war.
Not a chance in hell!
The United States was, is, and always will be a self sufficient country, we need NOTHING from other Countries, but just about every other country in the World has multiple dependencies on the US, and since they appear to Hate us anyway, F%&K them.
All this Trade bullsh&t started with Nixon when he opened up trade with CHina and then all the various Trade deals we have had all had the same goal, and it has worked pretty well, that is to Knock America down to size economically so it doesn’t make the subjects of the third world tyrannies revolt against their Masters or flee their enslavement camps .
See Iran 1976
I’m sort of amazed at how well they are holding up, frankly. When I saw the announcement I expected much worse damage.
The Dow’s down 1.4% as I type this. Hardly a crash.
Did you support Obama’s tariffs?
Now’s the time to buy gold. Very attractively priced.
last 3 days have been pretty scary....
Thought the Fed guy made some weird comment earlier that was supposed to be responsible.
Jeez. I rember not all that long ago the Dow would gain or lose 200-300 a day and no one blinked...
welllllll, I agree with you except when it comes to some exotic metals. Those we need. Other than those, yes we are very sufficient.
Ao why is my Brazilian Steel stock up 4% today?
GGB
The United States was, is, and always will be a self sufficient country, we need NOTHING from other Countries...
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Rare earth metals
A variety of earth and metallic-based pigments used in all sorts of inks, dyes and other coloring processes.
Probably others, but those came to mind immediately.
We do live in an inter-connected world. Everyone fights for the same markets and those markets need fast, cheap, superior products. It is a truism that you can have any two of that triangle at one time, but not all three.
Everyone wants to dismiss cheap labor and less costly environmental concerns, but those make US products more expensive everywhere. Wages will not go down and no one wants environmental degradation for the sake of cheaper production.
We need the world as much as the world needs us. I remember when parts of the Soviet bloc didn’t trade with the US and the 3rd world received products mostly from the east. Those products were inferior, but still, that’s what they had.
We will become a much poorer nation without world trade. I have no idea what the results of these tariffs will be, but it will be interesting to watch it play out.
Business needs markets. Markets need products. Products compete.
I 110% approve of the tariffs on China. wonderful!! What a great thing for America!! JOBS!!!!!!!!
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