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#1515114 --- 06/01/18 09:40 AM
More winning...
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Member
Registered: 06/15/11
Posts: 421
Loc: NY
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#1515122 --- 06/01/18 12:00 PM
Re: More winning...
[Re: Formermac]
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Gold Member
Registered: 02/18/09
Posts: 19801
Loc: Somewhere out there
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http://money.cnn.com/2018/05/31/news/economy/aluminum-steel-tariff-impact/index.htmlThe tariffs on steel and aluminum imposed on imports from Canada, Mexico and Europe — and the promised retaliation from these key US trading partners — will ripple across the American economy. You could be affected even if your business has nothing to do with rolls of aluminum or slabs of steel. First, the price of some products that everyone buys will probably go up. Beyond that, the trade dispute with these major partners isn't likely to stop with these products. Mexico and the EU have already pledged to retaliate against American products with their own tariffs. For example when the steel and aluminum tariffs were first announced in March, Europe signaled it was prepared to take action aimed at Harley-Davidson (HOG) motorbikes, bourbon whiskey and Levi's jeans in retaliation. Farmers could also be hit by tariffs imposed on food exports. Tariffs will probably also hurt the value of your 401(k), since a trade war is typically bad news for American stocks. The Dow was down more than 200 points midday Thursday.
Edited by kyle585 (06/01/18 12:06 PM)
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**** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****
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#1515125 --- 06/01/18 12:13 PM
Re: More winning...
[Re: kyle585]
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Gold Member
Registered: 02/18/09
Posts: 19801
Loc: Somewhere out there
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http://www.businessinsider.com/trump-tariffs-trade-war-great-depression-mistake-2018-51,100 economists warn that Trump is repeating one of the biggest mistakes of the Great DepressionBob Bryan May. 3, 2018, 12:00 PM More than 1,100 economists, including 14 Nobel laureates, urged President Donald Trump to reverse course on recent trade measures. The economists drew comparisons between the current tariff measures under Trump and the Smoot-Hawley Act in 1930. The Smoot-Hawley tariffs helped contribute to the economic hardships of the Great Depression. Over 1,100 leading economists sent a letter to President Donald Trump urging the president to reverse course on recent trade tactics — lest the US repeat one of the biggest mistakes of the Great Depression. The letter, organized by the conservative-leaning National Taxpayers Union, warned that recent tariffs and trade protectionism were harmful to the economy. The economists cited a 1930 letter that warned Congress against passing the Smoot-Hawley Act, a large package of tariffs that many studies cite as a major reason for the depth of the Great Depression. "Congress did not take economists' advice in 1930, and Americans across the country paid the price," the letter says. "The undersigned economists and teachers of economics strongly urge you not to repeat that mistake. Much has changed since 1930 — for example, trade is now significantly more important to our economy — but the fundamental economic principles as explained at the time have not."
The Smoot-Hawley tariffs, much like Trump's measures, were designed as protection for US industries. But they ended up making the situation worse. Advertisement Included on the new letter are 14 Nobel laureates and economists from across the political spectrum, including former chairs of the Council of Economic Advisers under Presidents Barack Obama, George W. Bush, and Bill Clinton. The letter also quotes the warnings from the 1930 letter, which warns that tariffs raise prices on consumers, damage industries that rely on trade directly or indirectly, hurt the fortunes of American farmers, and lead to retaliatory measures from other countries. The 1930 letter also painted the tariffs as a threat to national security. "Finally, we would urge our Government to consider the bitterness which a policy of higher tariffs would inevitably inject into our international relations," the 80-year-old letter read. "A tariff war does not furnish good soil for the growth of world peace."
Edited by kyle585 (06/01/18 12:14 PM)
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**** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****
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#1515126 --- 06/01/18 12:16 PM
Re: More winning...
[Re: kyle585]
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Gold Member
Registered: 02/18/09
Posts: 19801
Loc: Somewhere out there
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https://www.cnbc.com/2018/06/01/trump-ta...m-tax-cuts.htmlTrump's tariffs on US allies will shrink the savings Americans gained from tax cuts The U.S. says it will impose tariffs on steel and aluminum imports from allies such as Canada, Mexico and the European Union. While the White House acknowledges that these measures will lead to higher prices, the administration argues the effect will be tiny. But combined with additional tariffs on Chinese imports and retaliatory steps taken by U.S. allies, economists across the political spectrum agree these levies will have a negative impact.John Harwood | @johnjharwood Published 6 Hours Ago Updated 31 Mins Ago
Edited by kyle585 (06/01/18 12:19 PM)
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**** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****
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#1515127 --- 06/01/18 12:19 PM
Re: More winning...
[Re: kyle585]
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Gold Member
Registered: 02/18/09
Posts: 19801
Loc: Somewhere out there
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https://www.cnbc.com/2018/06/01/trumps-hostile-metal-tariffs-are-a-gift-to-china-obama-official.htmlTrump's hostile metal tariffs on US allies are a 'gift' to China: Obama trade official Trump's metal tariffs on U.S. allies are a "gift" to China, one Obama-era trade official says. "The world was aligned with the United States in recognizing China's threat around steel and aluminum," says Robert Holleyman. Bruce Heyman, a former U.S. ambassador to Canada, calls Trump's tariffs "hostile." Berkeley Lovelace Jr. | @BerkeleyJr Published 4 Hours Ago CNBC.com
Edited by kyle585 (06/01/18 12:20 PM)
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**** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****
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#1515136 --- 06/01/18 12:46 PM
Re: More winning...
[Re: luckyduck]
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Silver Member
Registered: 10/22/12
Posts: 13274
Loc: Above ground
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Donald Trump's steel, aluminum tariffs lift low and moderate income families Peter Navarro Published 4:53 p.m. ET May 31, 2018 | Updated 8:08 p.m. ET May 31, 2018 Striking a strong blow on behalf of working men and women, Donald Trump's policies are bringing jobs to destitute towns like Ashland, Ky., while revitalizing American manufacturing. https://www.usatoday.com/story/opinion/2...lumn/659254002/ Yet in the same vein, a whole bunch of Sears stores are closing, amounting to thousand of jobs, blame it on technology and online shopping which will be the case for thousands of businesses, you can't compete with a warehouse waiting for it's goods to be shipped adverse to laying dormant on a store shelf. When you tout positives, please acknowledge opposing aspects that you somehow seem to avoid. http://www.businessinsider.com/sears-kmart-stores-closing-list-2018-4https://www.theatlantic.com/business/archive/2017/04/retail-meltdown-of-2017/522384/
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