Trump announces deal w/ Canada/Mexico to remove steel/aluminum tariffs.

[RJB]

I wish I could LOL back, but in this case it is no laughing matter. What I propose would lead to a true free market, freedom and liberty, protects the Bill of Rights, Private Property, etc.

What you propose is restrictionist, creates crimes laws for businesses, and Funds the Fed. You know it, you advocate for it, but you will never willfully admit it. Because your goal is to see it through. Interesting, because you and I fully agree on what the USMCA will do.

Great platitudes. Did you write for Obama?

[Swordsmyth]

I wish I could LOL back, but in this case it is no laughing matter. What I propose would lead to a true free market, freedom and liberty, protects the Bill of Rights, Private Property, etc.

Until the communists invaded in pursuit of the wealth you would create and their home countries destroyed your economy from the outside by intervening in the export/import business.

What you propose is restrictionist, creates crimes laws for businesses, and Funds the Fed. You know it, you advocate for it, but you will never willfully admit it. Because your goal is to see it through. Interesting, because you and I fully agree on what the USMCA will do.

What I support (which isn't the USMCA) is the price of preserving the most liberty possible to be handed down to our grandchildren and beyond.

[PAF]

Until the communists invaded in pursuit of the wealth you would create and their home countries destroyed your economy from the outside by intervening in the export/import business.

Why don't you put the blame where it belongs: the Fed.gov has been doing it for decades, Trump comes along and not a single tweet or fire-side about ending incentives/welfare, not only for foreigners but Section 8 as well.

What I support (which isn't the USMCA) is the price of preserving the most liberty possible to be handed down to our grandchildren and beyond.

[Swordsmyth]

Why don't you put the blame where it belongs: the Fed.gov has been doing it for decades, Trump comes along and not a single tweet or fire-side about ending incentives/welfare, not only for foreigners but Section 8 as well.

The blame belongs with many people and Trump is cutting welfare for invaders, legal immigrants and natives.

[TheCount]

And there is the inherent dishonesty in your gig. Trump supporters celebrate when tariffs come to an end AFTER achieving intended economic goals that better the American economy.

Sure thing.

I just wonder why it has to be that the auto company investors will just say, "oh well, put up the cobwebs, turn out the lights and shutter the doors, I guess the economy's broken" rather than, "hmm. . . it seems like a really good time to open a steel plant." That seems to line up with economic theory, even in a controlled environment.

Reckon they'll be needing coal for coke, eh @Zippyjuan ?


U.S. Steel to invest $750 million to revitalize flagship Gary plant in wake of Trump tariffs

http://www.chicagotribune.com/busine...816-story.html

U.S. Steel Gary plant
The U.S. Steel Corp. plant in Gary is seen Oct. 11, 2007. U.S. Steel has announced it is investing $750 million into the 110-year-old plant. (John Smierciak / Chicago Tribune)
Robert ChannickContact Reporter
Chicago Tribune
U.S. Steel announced Thursday that it is investing $750 million to revitalize its flagship Gary plant to gear up for increased demand in the wake of President Donald Trump’s tariffs on imported steel.

The company said the investment will make “significant upgrades” to increase efficiencies at the 110-year-old Northwest Indiana plant, which is U.S. Steel’s largest, employing 3,800 workers.

The investment in the Gary plant is part of a $2 billion asset revitalization program at Pittsburgh-based U.S. Steel. The five-year Gary project will include building expansion and the installation of new production equipment and technology.

No new hires were announced as part of the plant improvements.

“There are no committed new jobs at this point, but the project will retain the more than 3,800 jobs in Gary,” Abby Gras, a spokeswoman for the Indiana Economic Development Corp., said Thursday.

U.S. Steel Corp. President and CEO David Burritt credited favorable trade policies on steel imports as instrumental to the company’s facility modernization program.

“We are pleased to be making this significant investment at Gary Works, which will improve the facility’s environmental performance, bolster our competitiveness and benefit the local community for years to come,” Burritt said in a news release.

“We are experiencing a renaissance at U.S. Steel,” he added.

Earlier this year, U.S. Steel announced it was restarting two blast furnaces and hiring 800 workers at a previously idled steel plant in downstate Granite City, near St. Louis. Trump visited the Illinois plant last month to celebrate its reopening as “a great victory" and a sign that his protectionist trade policies were working.

Trump imposed tariffs of 25 percent on imported steel and 10 percent on imported aluminum in March, launching an escalating trade war with China and other countries. The domestic steel industry has emerged as an early winner, but others may be hurt by retaliatory tariffs.

For example, Milwaukee-based manufacturer Harley-Davidson announced in June it would move some production overseas to avoid tariffs on American-made motorcycles imposed by the European Union in response to Trump’s measures.

China dominates the global steel market, but Trump’s tariffs on imported steel are seen as a catalyst for domestic manufacturers such as U.S. Steel.

U.S. and Chinese officials said Thursday they would hold talks later this month in a bid to ease the escalating trade war.

Located on the southern shore of Lake Michigan, Gary Works is U.S. Steel’s largest manufacturing plant, with an annual raw steelmaking capability of 7.5 million net tons. The facility makes sheet products, strip mill plate in coils and tin products.

“Today’s news is a major step forward that will have a lasting positive impact on the city of Gary, the northwest region and the state of Indiana for years to come,” Indiana Gov. Eric Holcomb said in the release.

Chief executives from American steel producers urged lawmakers to maintain strong U.S. tariffs on the metal on Wednesday to protect their industry, as Senate efforts to rein in President Donald Trump's tariff powers gained steam.The CEOs of top U.S. steelmakers Nucor Corp, United States Steel Corp, ArcelorMittal SA and Commercial Metals Co told the Congressional Steel Caucus that the "Section 232" steel tariffs were just starting to allow their industry to recover from damage caused by years of dumped imports and needed to be kept in place long-term.


Little has been done to reduce excess steel production capacity in China that U.S. producers blame for most of the industry's woes, and without the tariffs, unfairly traded imports would flood back into the U.S. market, the executives said.
"Now is not the time to blink," U.S. Steel CEO David Burritt told the lawmakers at a hearing on Wednesday. "Section 232 must continue to be applied to all countries, especially the largest import sources, whether that's a tariff or a hard quota. Even our best allies can be conduits for foreign steel from China or elsewhere."
Canada and Mexico are trying to negotiate a plan to lift U.S. metals tariffs from their products. The Trump administration is demanding quotas to limit import volumes in lieu of tariffs, but Canada and Mexico are resisting.
Earlier this week, Canadian Foreign Minister Chrystia Freeland and U.S. Trade Representative Robert Lighthizer made little headway in a meeting to resolve the issue, a Canadian official told Reuters.
"There was not a meeting of the minds," the official said. "That of course is an opportunity for the minister to reflect and think about what our next steps are."


Several Republican U.S. senators are combining forces on legislation to limit Trump's ability to impose tariffs under Section 232 of the Cold War-era Trade Expansion Act of 1962.
Senate Finance Committee Chairman Chuck Grassley, who represents the farming state of Iowa, on Tuesday said he would lead the effort aimed at restoring Congress' constitutional authority over trade matters. His plan calls for Section 232 tariffs to be limited to a defined period of time unless extended by Congress.
United Steelworkers President Leo Gerard told the steel caucus lawmakers that Canada should be exempted from the Section 232 tariffs because of the high level of cross-border integration and common ownership in the industry. His union represents about 9,000 Canadian steel workers and 50,000 at U.S. mills.
But Representative Mike Bost, a Republican whose district saw U.S. Steel restart two blast furnaces and rehire 800 workers at its Granite City, Illinois mill last year, made clear that he was focused on rebuilding steelmaking capacity in the United States, not Canada.
"I want to let you know that the focus of this committee should be our U.S. workers," Bost said.
The steel executives also called on the lawmakers to boost U.S. demand for steel by passing a significant infrastructure investment package this year.

"Please let this year be the time to stop talking and start investing," said ArcelorMittal USA President John Brett.

More at: https://news.yahoo.com/dont-blink-tr...--finance.html

[Swordsmyth]

Sure thing.

LOL

Your quotes do nothing for your argument.

[TheCount]

LOL

Your quotes do nothing for your argument.

[Swordsmyth]

[Zippyjuan]

So, about all those new investments in the US steel industry... guess they're all going to fail, huh?

$1 billion investment in a steel plant was recently announced. Will it create jobs? It is actually building a replacement plant- one with more modernization and automation. The company said that it will not increase their output capacity and when the new one opens, the existing one will be closed. The increased automation means that fewer workers will be needed to run the new plant and again they won't produce any more steel than they do now.

[Zippyjuan]

I've told you before, I'll repeat just the biggest: The Sunset Clause.

As usual, makes a claim and fails to provide any facts to back it up.

[dannno]

Yes, the trend is that government interference in the markets reduces predictability and causes malinvestment.


Oh, want to see another trend?


Trump raises tariffs

Trumpkins celebrate, saying that higher tariffs are good for the economy


Trump lowers tariffs

Trumpkins celebrate, saying that lower tariffs are good for the economy

Everything you post is sickeningly dishonest.

You pretend that you care about tariffs, but you only bitch about high tariffs on one side. You don't care what tariffs on US goods are, even though they are really high, and you have presented no ideas on how to lower them. You pretend they don't even exist. Trump was concerned with lopsided tariffs - really high tariffs against our goods with really low tariffs on foreign goods.

Trump ran on balancing those out and making both as low as possible. That's what he did in the OP. It's a good thing. If you cared about low taxes/tariffs you would celebrate. But you don't. You are a faker.

[dannno]

As far as I can tell, Trump supporters are the only ones who want low tariffs across the board.

Anti-Trumpers have never presented any ideas on how to lower tariffs on American goods. They pretend they don't even exist.

Change my mind. Show me posts from anti-Trumpers who have ideas about lowering tariffs - ALL TARIFFS, not just the ones that Trump raises temporarily for negotiation purposes.

[dannno]

We had a situation here where there was like a 20% tax going one direction and an almost zero% tax going the other direction.

Now there are almost zero% taxes going both directions because of Trump's actions.

Anti-Trumpers are now bitching that Trump just brought a tax rate from 20% to 0%.

As far as I can tell, anti-Trumpers are just a bunch of commies who want high taxes.

Change my mind.

[dannno]

Yes, the trend is that government interference in the markets reduces predictability and causes malinvestment.


Oh, want to see another trend?


Trump raises tariffs

Trumpkins celebrate, saying that higher tariffs are good for the economy


Trump lowers tariffs

Trumpkins celebrate, saying that lower tariffs are good for the economy

Before Trump's tariffs, there was like a 20% tariff on American goods, but we had almost no taxes or tariffs going the other direction.

Now there are zero taxes across the board, in both directions. The only way to accomplish that was to temporarily raise tariffs. I have always said that is why Trump raises tariffs, to get them ALL down to zero.

Do you think it was beneficial to have 20% tariffs on American goods? Because that seems to be your preference. Or are you glad that Trump had the 20% tariff on American goods lowered to almost nothing?

[TheCount]

Everything you post is sickeningly dishonest.

You project so much, your nickname should be IMAX.

You pretend that you care about tariffs, but you only bitch about high tariffs on one side. You don't care what tariffs on US goods are, even though they are really high, and you have presented no ideas on how to lower them. You pretend they don't even exist. Trump was concerned with lopsided tariffs - really high tariffs against our goods with really low tariffs on foreign goods.

We should raise our income taxes up above European levels and keep them there until Europe agrees to lower their income taxes.

Trump ran on balancing those out and making both as low as possible. That's what he did in the OP.

Oh really?

Which tariffs did Mexico and Canada agree to lower to levels below what they were previously?

[TheCount]

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4 posts in a row? Are you triggered? Do you need a safe space?

Before Trump's tariffs, there was like a 20% tariff on American goods, but we had almost no taxes or tariffs going the other direction.

On which products, when?

Now there are zero taxes across the board, in both directions. The only way to accomplish that was to temporarily raise tariffs. I have always said that is why Trump raises tariffs, to get them ALL down to zero.

Which tariffs were lowered to zero?

[Zippyjuan]

Tariffs have been falling a long ways and a long time. Without trade wars. Now for the first time since the 1970's, they are rising again.

[Swordsmyth]

Turkey has cut its tariffs on 22 U.S. imports in half after the United States reduced its tariffs on Turkish steel by 50 percent last week, according to a May 22 report by Turkey's Official Gazette.

More at: https://worldview.stratfor.com/situa...-us-goods-half