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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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President Trump shocked many yesterday with a surprise announcement of new steel and aluminum tariffs. As of next week, all imported steel products will be subject to a 25 percent tariff, with aluminum being hit with a rate of 10 percent. Calling for “free, fair and SMART TRADE!” in a tweet defending his decision, the President’s protectionist move is intended to shore up the struggling U.S. steel industry. With the possibility of a trade war on the horizon, which countries are set to be most affected by the changes?
While China are often accused of damaging the US economy by flooding the market with cheap steel, they were actually only the 11th largest import country last year. In actual fact, the countries which will be hit the hardest by these new tariffs are in some cases key allies of the United States. Canada, for example, was the most important steel partner in 2017 with a total of 5.7 million metric tons flowing across the border.
No hat tip?
Feel my pain. From awhile back.
If ALL the imported steel is replaced with US made steel, it would add 24,000 jobs. And it would, of course, destroy some too, as the price of steel goes up. Plus there will be job losses as a result of other nations applying tariffs to US made goods.
And the jobs would be temporary, as steel production is rapidly getting more efficient.
And it is gone!
Tariffs on anything at any time are harmful in the long run, anything. The consumer winds up getting the shaft so that a few get temporary gains. Beer cans, anything made of aluminum will cost you more. Appliances will cost more, you name it, and your cost of living will go up with no corresponding increase in quality to offset the price increase. Trump is a total economic dumb ass. Before you jump on me, go back and read about Smoot-Hawley first.
Llpoh is right.
If the price of metals go up, PMs aside (for some strange unknown reason ::coughs:: ), we can be fairly confident it wont be a steel shaft…
Llpoh may be right about steel, and what you say may be right in general, but tariffs are like a prisoners’ dilemma: if every country forsook tariffs everyone would be better off, but not every country does forsake tariffs, so you have to make sure you’re not getting shafted. You have to play hardball once in a while. I ranted a bit in the other thread. My point was less that tariffs on steel are necessary than that they don’t amount to much, so the Conservative, Inc. crowd shouldn’t get their undies all in a bunch about it.
“Tariffs on anything at any time are harmful in the long run …..”
Points out how stupid our founding fathers were, expecting tariffs and excise taxes to be the only taxes to finance our government, not realizing they were destroying us and the economy by doing it.
“Beer cans, anything made of aluminum will cost you more.”
Uh-oh. Already on a budget.
In an effort to contain costs, perhaps it’s time to buy 2 or 3 large glass growlers, and get them filled and then re-filled as necessary, at local craft breweries.
Expensive? Yeah, kind of.
But, the alcohol content is usually higher, so little suds buckets won’t need to consume as much. Unless, of course, the goal is to imbibe to the level of say, Foster Brooks.
Damn it, though…I can’t hide a growler in my golf bag, unlike 4-6 aluminum cans of suds.
The frickin’ clubhouses are starting to charge too much for theirs-only sold to golfers.
At, $3-$4 bucks a pop, I feel like I should be watching a pole dance at those amounts.
(Thanks for that inflation, Fed. Now Trumps aluminum tariff = more $? Kiss my ass Donny )
But, too, the craft beer flavors are much better than the typical horse piss known as Bud Light.
A couple of old school, large breweries making decent tasting, low cost beers I enjoy:
-Yuengling, America’s oldest, has a flavorful slightly red lager for $1 / long neck or can; and
-Molson Canadians are still enjoyable, but, call me nuts, the ones they keep in the Canadian market seem to taste better than the ones they send to the States.
Maybe I’s biased, since when in da Great White Nort, it’s typically on a vacation of sorts, and cold beers always taste better when traveling, and leisurely enjoying another country or locale.
And Yingies, damnit, are only available in select States that the PA brewery prefers to distribute to. So, they are rationed, when a Steeler or a Buckeye can bring ’em my way.
Best memory from another country:
-drei biers ven I vuz o’er in Hameln years back. Since they’re not refrigerated, but kept cool in underground storage, a draught pulled from an underground tapped reservoir was just…just…
vell, Wundebar. (how’d I do, Schtuk?)
Stay thirsty, my friends. Clink. (hic!)
“Beer cans, anything made of aluminum will cost you more. ”
lol
Chinese billionaire ‘hid $2bn aluminium pile in Mexican desert and then sold it across the border to America to avoid costly tariffs’, claim US rivals
Read more: http://www.dailymail.co.uk/news/article-3784270/Chinese-billionaire-hid-2-billion-aluminum-stockpile-Mexican-desert-claim-American-rivals.html#ixzz58jyYOZNc
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To get a better picture, you would have to separate the grades and types of steel, of which there are many. Canadian steel is probably mostly soft carbon steel of the type used for industrial pipes and structural uses. By tonnage it is the most common but what about the various grades of stainless?
I would suspect quite a bit more comes from the far east.
Z – nope, guess again. The info is all out there.
By the way, guess who the number one exporter of steel to Canada is? Take a wild guess! Why, it is the US, which exports almost as much steel to Canada as it imports. Wonder what happens to that steel if the US hits Canada with tariffs? Gee, I wonder. Wonder if maybe China will fill the void.
This will go down as one of the worst economic decisions ever made. China will be laughing all the way to the bank.
If we had done this 30 years ago we would still have manufacturing in this country. I like his ideas on tariffs. You do know tariffs funded this country at the beginning. Let’s return to those times.
West coast – no, we would not. Mfg is in a death spiral. China etc may have sped it up minutely, but nothing could stop the spiral. And as a percent of gdp, manufacturing is same as it ever was. So where are the jobs? Technology, baby, has killed them.
Manufacturing is in a death spiral because people no longer consume manufactured products.
Soooo …. people no longer buy cars, and homes, and the tons of stuff IN homes???
Wow. Learn something new every day here.
“Canadian steel is probably mostly soft carbon steel”
A map of Canada steel plants would be useful. Also port of entry into Canada for China steal.
There ya go. Hope it is useful.
It took longer to cut/past than find the [search] “map of Canada steel plants”.
https://www.google.com/search?q=map+of+Canada+steel+plants&rlz=1C1CHBF_enUS739US739&oq=map+of+Canada+steel+plants&aqs=chrome..69i57&sourceid=chrome&ie=UTF-8
From: “President Trump’s predecessors learned about steel tariffs the hard way”
The American Enterprise Institute by Mark J. Perry, March 1, 2018
In March 2002, President George W. Bush imposed a 30% tariff on Chinese steel. The results were chaotic. In a report put out by Consuming Industries Trade Action Coalition in February of that year, the coalition found the tariffs against China boosted the overall prices of steel and cost the U.S. 200,000 jobs in businesses that buy steel, representing $4 billion in lost wages.
• One out of four (50,000) of these job losses occurred in the metal manufacturing, machinery and equipment and transportation equipment and parts sectors.
• More American workers lost their jobs in 2002 to higher steel prices than the total number employed by the U.S. steel industry itself (187,500 Americans were employed by U.S. steel producers in December 2002).
http://www.aei.org/publication/president-trumps-predecessors-learned-about-steel-tariffs-the-hard-way/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+aei-ideas%2Fcarpe-diem+%28AEIdeas+%C2%BB+Carpe+Diem%29