Posted on 05/31/2019 8:46:45 AM PDT by Mariner
The surprise announcement by President Donald Trump of an escalating tariff regime against Mexico sent ripples through almost every economic sector in the U.S., hammering American companies that sell automobiles or run railroads, grow vegetables or build power infrastructure.
Trump tweeted late Thursday that he is slapping a 5% tariff on all Mexican imports, effective June 10, and will raise those tariffs to 25%, “until the Illegal Immigration problem is remedied.”
Whether it’s avocados on a taco or a new Chevrolet Blazer SUV in the driveway, if the tariffs go into effect, Americans could feel it.
The companies that produce such goods felt it immediately Friday.
Shares of General Motors Co., which imports more vehicles into the U.S. than any other automaker, slid 4% at the opening bell. European and Asian automakers ship cars across the border to the massive U.S. market as well. Fiat Chrysler and Nissan Motor Co. both tumbled more than 5%
“For GM, we roughly estimate that a 5% tariff could be a several-hundred-million dollar annual earnings hit,” said Itay Michaeli of Citi Investment Research.
That potential damage rippled outward to auto suppliers. American Axle & Manufacturing Inc. slid 4%.
(Excerpt) Read more at yahoo.com ...
As will their parts suppliers.
Winning.
Some people will just not act in their own best interests until it HURTS like hell not to conform.
There is a way to play right. Sometimes the rules just have to be enforced.
Anything the AP writes about Trump always involves havoc, chaos, etc.
More winning.
President Trump’s actions are like injecting truth serum ino the back stabbing Americans pretending to be great Americans.
When he does something like this surprise tariff (to us), we have posters on FR and Economists with left and right wing fake news outlets telling us how this will damage us.
Let it happen, and may it drive those depending on robbing Americans via all types of hidden and often illegal bs, into bankruptcy!
AP, Time & Yahoo.
Well, there’s three utterly impartial sources for you.
It’s like them saying the trade war is hurting us, even if China’s goal is the total destruction of the United States and complete global rule.
American companies hit the hardest! eye roll
Gee, they might actually start making stuff HERE!......................
Now that will be some fair minded reporting, huh?
If a 5% tariffs can do this much good think what a 10% or 15% tariffs? I call it Tariff Hysteria™.
The only thing that wreaks is this article.
“American companies hit the hardest!”
That statement is utterly absurd. Only women and minorities can be hit hardest
Another form of leftist circular brainwashing; the globalists short stocks so the media can do blame-Trump articles. Both profit and work towards their America-last agenda.
I wonder...
Can the day-workers be characterized as “Mexican Imports”?
I think I’ll survive without avocados.
Stop feeding the Mexican Beast. Tax the hell out of them, including remittances from their illegal army.
“Shares of General Motors Co., which imports more vehicles into the U.S. than any other automaker,”
Just keep reading that line over and over until it sinks in (May only take one reading, I know).
And what is it that then makes General Motors an “American” company? Is it all the Obama bailout/graft money? Or does that make the Iranian?
The AP can’t see their own contradictions when they write them themselves.
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