Trump Steel and Aluminum Tariff thread
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Not uncommon to tariff steel.
He also blocked Nippon Steel from buying U.S. Steel, although he did allow them to buy a significant chunk.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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I have a Hyundai Sonata. It was built in Georgia, using about 45% American parts.
That's where Trump is going. Yes, the steel tariffs are to protect a strategic industry, but overall, Trump wants goods manufactured in the U.S.A. His tax policy is to reward foreign companies who manufacture here, whatever product they may make. The tariffs and taxes will balance out, but the jobs will be here.
It's a variation of "a rising tide lifts all boats". At least it's not telling everybody to learn to code.
Will it work? I dunno.
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Not uncommon to tariff steel.
He also blocked Nippon Steel from buying U.S. Steel, although he did allow them to buy a significant chunk.
@Jolly said in Trump Steel and Aluminum Tariff thread:
Not uncommon to tariff steel.
He also blocked Nippon Steel from buying U.S. Steel, although he did allow them to buy a significant chunk.
The blocking of that merger likely ended steel manufacturing in the Steel City. Those factories need billions of dollars of upgrades to allow them to continue that Nippon had committed to. Now the factories won’t be updated, and 25% steel tariffs will not fix that.
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Just the start. US defence industry growth will put additional pressure on demand and drive prices higher.
And there’s only so much a punitive tariff regime can accomplish as an effective means of extorting foreign investors into setting up shop in the US or, as in the case of Nippon Steel, consider remediating existing obsolete facilities. Then there’s the issue of big US labour unions and the control they exert over the workforce that run the mills. North American labour unions demand a lot of the employer, US unions even more than is the case up here.
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It’s weird that there’s not been a market reaction to this.
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Tariffs on Tariffs. Canada earmarked for cumulative tariffs on steel, aluminum and some other items:
https://www.cbc.ca/news/world/white-house-cumulative-tariffs-1.7456590
Policy appears less and less like tariffs and more and more like full out economic sanctions.
Well I guess the upside of all this is that Trumpigula is single handedly destroying any chances that the Poilievre Conservative Party will form the next government in Ottawa. His ongoing attacks on Canada will surely return the Liberals with a majority and under a new leader. A leader quite unlike the outgoing Dauphin.
And yes we will retaliate dollar for dollar.
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@jon-nyc said in Trump Steel and Aluminum Tariff thread:
As you should. Canada has been good about making key red states pay.
That is unanimously agreed to by all federal political parties as well as all provincial and territorial premiers with exception of one, Danielle Smith of Alberta - Canada’s own version of Tulsi Gabbard and MTG combined.
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Japanese trade minister Yoji Muto met Monday with his U.S. counterparts to seek exemptions from new tariffs that President Donald Trump plans to impose on steel, automobiles and other imports, but he did not secure any assurances from them that Japan would be treated differently.
Muto held separate talks with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington, two days before Trump's 25 percent tariffs on all steel and aluminum imports are due to take effect.
