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Trump says U.S. to impose steel, aluminum tariffs next week

By zzyzzx following x   2018 Mar 1, 9:58am 1,281 views   24 comments   watch   sfw   quote     share    


https://finance.yahoo.com/news/trump-says-u-impose-steel-173223653.html

WASHINGTON, March 1 (Reuters) - U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week.

At a meeting with U.S. industry officials at the White House, Trump vowed to rebuild American steel and aluminum industries, saying they had been treaded unfairly by other countries for decades.
1   HEYYOU   ignore (13)   2018 Mar 1, 10:41am   ↑ like (2)   ↓ dislike (0)   quote        

Maybe now we won't have to tolerate union Republicans destroying an industry like these Liberal Socialist Republican Conservatives are doing
as members of other unions. How many of these union slime are taking money thru police,fire,other govt. related unions' demand for more tax dollars?
You Republicans enjoying your unionized big govt. socialist jobs? You conservative union sleeper cell liberals will destroy America.

Starting today Trump/Republicans will stop importing/buying anything from COMMUNIST China!
It's great to wake up every morning & see Republican's are maintaining their hypocrisy.
They all have smartphones...that are only made in America. True Patriots!

Hell yes! They are all made in America! MAGA brought all manufacturing jobs back to the Republican Nazi/Facist Homeland.
2   Feux Follets   ignore (0)   2018 Mar 6, 3:28am   ↑ like (0)   ↓ dislike (0)   quote        

How the U.S. Squandered Its Steel Superiority. Spoiler alert: Unfair trade practices of foreign nations had nothing to do with it.

Donald Trump wants to help the steel industry in this country, and he’s announced plans for protective tariffs, claiming that “trade wars are good, and easy to win.” By way of explanation, Trump claims that steel -- and many other industries -- has been “decimated by decades of unfair trade and bad policy.”

He’s correct about one thing: This has been a problem many decades in the making. But it’s a problem rooted in disastrous decisions made by the steel companies themselves when Trump was still in elementary school.

At the end of World War II, American steel had no real challengers. It produced nearly three quarters of the world’s steel, and the factories of its biggest competition -- Japan and Germany -- lay in ruins. Giants like U.S. Steel looked poised to dominate the world for the foreseeable future.

Instead, the industry was lapped by foreign producers -- and unfair trade practices were simply not a factor. Instead, the blame lies with U.S. manufacturers who held onto the so-called “open hearth” method of steel production decades after its expiration date.

Europeans, though, had no such attachment to the past, perhaps because many factories had been destroyed in the war. Moreover, they had started experimenting with the idea of turning iron into steel by blasting pure oxygen onto the molten metal. This method, which became known as the basic-oxygen process, first entered trial use in 1948 at a factory in Linz, Austria, owned by the small steel firm VOEST. The company soon built a full-scale commercial facility that went online in 1952.

Linz became something of an industrial mecca in the succeeding years, as steelmakers the world over visited to see this new process firsthand. Most became immediate converts, and with good reason: The cost of building steel mills using the basic-oxygen furnaces was 40 to 50 percent lower than conventional open-hearth factories; operating costs were 25 percent lower, though some studies suggested even greater cost savings.

But it was the productivity gains associated with the new process that should have really raised eyebrows. One factory that made the shift could produce 40 tons of steel per hour using the open-hearth process, but after installing basic-oxygen equipment, it managed to quadruple that figure.

Unfortunately, Big Steel was too proud to notice Europe gaining ground. In a typical advertisement from the era, U.S. Steel claimed it was a company “where the big idea is innovation.” But this claim -- much like so many of the braggadocios claims of today -- could not hide a more disturbing reality.

https://www.bloomberg.com/view/articles/2018-03-05/steel-history-shows-how-america-lost-ground-to-europe

For what it's worth now - 1950's America ignored W. Edwards Deming and his theories on quality control etc. which the Japanese and others did not.

Sticking with What's Good for GM is Good for America and other hubris sealed our fate and we are too little too late in the game to reclaim what we have lost.

More on Deming. http://asq.org/learn-about-quality/total-quality-management/overview/deming-points.html
3   Booger   ignore (1)   2018 Mar 6, 5:11pm   ↑ like (0)   ↓ dislike (0)   quote        

https://www.reuters.com/article/us-kobe-steel-scandal-report/kobe-steel-finds-more-malfeasance-to-overhaul-board-idUSKCN1GI0J7.

Japan’s third-largest steelmaker, which supplies manufacturers of cars, planes and trains across the world, said in October that about 500 of its customers had received products with falsified specifications
4   Strategist   ignore (1)   2018 Mar 6, 5:13pm   ↑ like (0)   ↓ dislike (1)   quote        

zzyzzx says
WASHINGTON, March 1 (Reuters) - U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week.


If a trade war breaks out, all sides end up losing.
5   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 6, 5:15pm   ↑ like (1)   ↓ dislike (0)   quote        

Strategist says
If a trade war breaks out, all sides end up losing.


Nope. When you lose your #1 Customer, YOU have the problem. America can only gain jobs. In the short term, any short fall can be met by Indian Factories, they'd be glad of the work.

And Canada and Mexico, you little stinkers, laundering Chinese Steel and Products by passing them through some minimal processing, then exporting to the USA tariff free under NAFTA, time to come correct. You can start by buying US Steel instead of Chinese. But of course, you never needed much steel because the steel you brought from China was pass-through to get it under NAFTA and help China dodge anti-dumping controls.
6   APOCALYPSEFUCKisShostikovitch   ignore (30)   2018 Mar 6, 5:20pm   ↑ like (2)   ↓ dislike (0)   quote        

If AMERICA!n industry collapses, TRUMPLIGULA! will allow the unemployed to volunteer to work at Trump Resorts properties and be paid in potatoes when they are available.
7   Strategist   ignore (1)   2018 Mar 6, 5:22pm   ↑ like (0)   ↓ dislike (0)   quote        

TwoScoopsPlissken says
Nope. When you lose your #1 Customer, YOU have the problem. America can only gain jobs. In the short term, any short fall can be met by Indian Factories, they'd be glad of the work.


Does India have excess capacity? They are now the fastest growing economy, and will need a lot of steel and basic materials.
8   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 6, 6:59pm   ↑ like (1)   ↓ dislike (0)   quote        

Strategist says
Does India have excess capacity? They are now the fastest growing economy, and will need a lot of steel and basic materials.


Maybe, but steel is made all over the world. We could simply restore and expand ours.

Quite frankly, since aluminium and steel are strategic materials necessary for planes, tanks, and other military equipment, it's an issue of national security as well as good economics to make as much of it at home as possible.

Maybe we can make 95% of it, and toss 5% to the rest of the world as a nice bit of scrap.

We knocked out Nazism & Communism, and pressured France and Britain to give up their Empires. We did plenty. Now is the time to put ourselves first again.
9   Feux Follets   ignore (0)   2018 Mar 7, 6:11am   ↑ like (0)   ↓ dislike (0)   quote        

TwoScoopsPlissken says
We could simply restore and expand ours.

Still waiting for those 11,000 jobs U.S. Steel blabbed about. Anyone followed up on that or are these tariffs going to solve that ?
10   Feux Follets   ignore (0)   2018 Mar 7, 6:14am   ↑ like (1)   ↓ dislike (0)   quote        

FINANCIAL TIMES for 03-07-2018. Struggling US steel mills fear hammer blow to jobs. Donald Trump’s planned tariffs could harm the workers he aimed to protect.

Donald Trump’s planned 25 per cent tariffs on steel imports could jeopardise jobs in some of the struggling mills he set out to protect, according to industry executives whose businesses depend on 30-ton slabs they cannot source domestically.

Most imports to the US come in the form of finished steel, but about 20 per cent are semi-finished slabs from Brazil, Russia, Mexico and Japan that are converted into the products then sold to carmakers, construction companies and other customers.

Those mills may now be forced to cut staff or even close, executives said.“Short term we have a pipeline of steel slabs, so we would have inventory, but I’m afraid that the time would come very soon where we would look at our ability to stay in business,” said Bob Miller, chief executive of NLMK USA, a Russian-owned steel producer employing 1,060 people in Pennsylvania and Indiana.

A 25 per cent tariff would “definitely lead to job losses”, he said. “That kind of number puts you out of business.”

It would also put at risk a $670m capital investment programme NLMK had planned for the next five years, he added, noting industry estimates that each steel job supports seven positions in other industries.

Marcelo Botelho Rodrigues, chief executive of California Steel Industries, said he was unsure whether he could pass on higher costs to customers to save the almost 1,000 jobs at its Fontana mill near San Bernardino.

“Trump is doing that to protect jobs but destroying ours,” he said of the planned tariffs.

Full Article with graphs from The Financial Times. https://www.ft.com/content/4e750190-21a9-11e8-a895-1ba1f72c2c11
11   Feux Follets   ignore (0)   2018 Mar 7, 6:15am   ↑ like (0)   ↓ dislike (0)   quote        

TwoScoopsPlissken says
America can only gain jobs


That's pretty funny in view of the quotes from the steel makers themselves in the above article.
12   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 7, 9:06am   ↑ like (1)   ↓ dislike (0)   quote        

Oh, I fully expect a propaganda 5-Alarm whingefest from the Oligarch Media.

Let something we've never seen.

It's actually going to increase the level of suspicion between Main Street and DC.
13   Strategist   ignore (1)   2018 Mar 7, 9:28pm   ↑ like (0)   ↓ dislike (0)   quote        

TwoScoopsPlissken says
Maybe we can make 95% of it, and toss 5% to the rest of the world as a nice bit of scrap.


Why not toss all of it to foreigners, and put our guys to work in the hi tech, higher paying jobs? We can then sell high margin tech products to them in exchange for low margin cheap steel. We would be wealthier that way, along with other countries.
14   lostand confused   ignore (0)   2018 Mar 8, 2:31am   ↑ like (0)   ↓ dislike (1)   quote        

Feux Follets says
said Bob Miller, chief executive of NLMK USA, a Russian-owned steel producer

LOl liberals now quoting Russians-nothing changed-pee pee dossier is true-impeach him now!!!!!!!

Funny thing is liberlas used to argue for tarrifs and were anti free trade-now they favor global free trade and unlimited immigration -truth is stranger than fiction!!!!!!!!
15   Feux Follets   ignore (0)   2018 Mar 8, 5:20am   ↑ like (1)   ↓ dislike (0)   quote        

lostand confused says
LOl liberals now quoting Russians-nothing changed-pee pee dossier is true-impeach him now!!!!!!!


RFLMAO - conservatives unable, unwilling to acknowledge or read that something changed big time in the U.S. Steel Industry.

Not the typical pee pee Brietbart or Alex Jones or The Gateway Pundit news source which means reading and comprehension difficulty is increased by a factor of 10 or more.

NEWS FLASH - Those 500 layoff jobs they are recalling at Granite City U.S. Steel announced this morning and trumpeted like the rapture by Breitbart because of the tariffs would have come back anyway and it's still a far far cry from the 11,000 the U.S. Steel CEO ran his mouth about somewhere in the one year ago category.

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Made-in-America Steel Includes Mills Owned by Russians, Mexicans

Steel plants owned by non-American companies such as ArcelorMittal account for a large chunk of total U.S. production, with the Luxembourg-based company’s plants alone representing about 16 percent, according to Bloomberg Intelligence.

Other foreign companies operating in the U.S. market include Moscow-based Evraz Plc, whose executives attended the White House event on Thursday, as well as Brazil’s Gerdau SA, whose shares rallied along with homegrown producers U.S. Steel Corp. and Nucor Corp.

While those foreign companies would pay tariffs on any semi-finished products such as slabs they bring in to the U.S., they wouldn’t be subject to duties on metal produced in America.

https://www.bloomberg.com/news/articles/2018-03-02/made-in-america-steel-includes-mills-owned-by-russians-mexicans

Article forgot to mention POSCO which is based in South Korea.

lostand confused says
truth is stranger than fiction!!!!!!!!


Why not spend some time to research just how many companies in the U.S. including steel companies are actually 100% owned by Americans to find out just how stranger truth is than fiction from the usual right of center news sources?

https://en.wikipedia.org/wiki/List_of_steel_producers
16   Feux Follets   ignore (0)   2018 Mar 8, 5:25am   ↑ like (1)   ↓ dislike (1)   quote        

We lost our way back in the 1950s, Potus head and brain think is stuck in the 1970s.

Our glory days for steel are done - finished - not coming back anywhere near to where is was - ever, even in case of a new world war.

Good chunks of the capacity has been already been dismantled around the country and is seeing new use as consumer products via steel recycling.

Start up an idle mill you say ? Starting up an idle mill, refinery, chemical plant is not like turning on a light switch and it helps to have skilled people to accomplish this of which we have a shortage as well.

Want to talk refineries next ?

Foreign ownership of U.S. refineries also up.

How many refineries have been shut down because the "profit margins" were not high enough. not profitable mind you, just not profitable enough.

How many new refineries have we built in the last 30 or so years compared to our competitors in other countries ?

Want to try shipbuilding ?

How about the % components especially electrical that are in those "made in the USA or assembled in the USA products and goods) or that are actually made here 100% by a 100% U.S. owned company?

It's a Long Way to Tipperary and a significantly longer if not impossible long journey to MAGA at least they way Potus is talking about it.
17   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 8, 1:43pm   ↑ like (0)   ↓ dislike (0)   quote        

Feux Follets says
Our glory days for steel are done - finished - not coming back anywhere near to where is was - ever, even in case of a new world war.


Nah. The laws of physics haven't changed. Besides, the 2 of the top 3 Steel Producers are the EU and Japan, places with as high or higher costs of production as the USA.

Meanwhile:

Granite City Works has two blast furnaces. Both plants and its steel-making facilities were idled in December 2015. The company idled its hot strip mill in January 2016. The hot strip mill was restarted in February 2017.

Nearly 500 employees will be starting this month, and it could take up to four months for the plant to fully restart, company officials said.

http://www.wpxi.com/news/top-stories/us-steel-to-restart-idle-plant-recall-500-workers-after-president-trumps-tariff-order/712481701
18   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 8, 1:46pm   ↑ like (0)   ↓ dislike (0)   quote        

Feux Follets says
Want to try shipbuilding ?


Yep, the top 9 of 10 shipbuilders in the World in terms of Gross Tonnage are yards in South Korea and Japan. Only One (1) is in China. Japan is particularly lacking in quality and quantity of raw materials, and most of it is shipped in, yet they still have multiple yards in the top ten list.

The Top Shipbuilders are Hyundai, Mitsubishi, and STX.

Are most South Koreans and Japanese living in tin roof huts without running water and no electricity, cooking with elephant dung?

https://www.marineinsight.com/naval-architecture/top-10-shipbuilding-companies-in-the-world-in-2012/

Also, Finland, another country with expensive production costs and an extensive tax and social program Nation, builds many of the world's massive cruise liners. In fact, it's yards have been taken over by South Korea's STX, who keep building massive cruise ships with those "very expensive" Finnish workers, all of whom live Middle Class lives in expensive Europe.

I guarantee you Finnish Welders, Naval Architects, Electricians, etc working in those yards aren't living in a tin roof shack, eating raw whale blubber, by a charcoal stove.

South Korea is certainly welcome to develop a huge new drydock at Newark or Long Beach, or refab an old one.

Shipbuilding can certainly come back. And it's a national security issue to boot.
19   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 8, 1:53pm   ↑ like (1)   ↓ dislike (0)   quote        

If Europe doesn't make steel (actually they're the #2 Steelmaker after China), why so mad about the steel and aluminium tariffs?

Great! If Europe wants it's steel not to be punished, they can reciprocate to 2.5% on US Cars, the rate we charge on their cars.

What rate does the EU have on US Cars? 5 times as high, 10%.

Hoping for reciprocity has been given decades to work and has not produced an ROI. Time to threaten: Reciprocate or Fuck You.

If we have a trade war, it's their fault for not reciprocating for decades and then refusing to heed an ultimatum. Why does the US always have to be the patient one (aka Bagholding Sucker)?
21   HEYYOU   ignore (13)   2018 Mar 8, 2:11pm   ↑ like (0)   ↓ dislike (0)   quote        

Here's a real American Patriot.
It's so funny to see how members of the Republican Party make Republicans look so stupid.

"When President Reagan imposed a 100 percent tariff on selected Japanese electronics in 1987,"

https://object.cato.org/sites/cato.org/files/pubs/pdf/pa107.pdf

Trump might not enforce a tariff on Mexico,home of Rapist & Murderers.
Hell! He won't even deport millions of illegals. Too busy playing golf or using a kindergarten marker to sign bills.
22   Heraclitusstudent   ignore (1)   2018 Mar 8, 2:16pm   ↑ like (1)   ↓ dislike (0)   quote        

To some extent the problem here has less to do with production than with finance. The US/UK are stimulating their economies a lot by going into debt.
On the other side of this, you have Germans who don’t want to run deficits, and don’t want to go in debt. They want to save, invest in their companies and people (education).
The same with China: while you hear they are going in debt, at the national level they have large savings and invest massively in infrastructures and education.
Because Americans spend a lot and don’t save, they end-up buying German/Chinese stuff more than the opposite.
At the same time, China & Germany both limited the impact on their currencies: China by buying massive amounts of dollar debt, and Germany by sharing their currency with a bunch of weak nations.
So the trade deficits do not resolve themselves by currency moves.
This results in perennial trade deficits particularly with China and Germany.
So US should invest more in infrastructures and education, and finance this by taxing more, reducing the deficit. And also raise rates to reduce debts, even at the price of less growth.
Unfortunately all the economic dogmas that guide US actions go the other way.
23   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 8, 2:29pm   ↑ like (0)   ↓ dislike (0)   quote        

Heraclitusstudent says
So US should invest more in infrastructures and education, and finance this by taxing more, reducing the deficit. And also raise rates to reduce debts, even at the price of less growth.


And perhaps reducing the military budget over time, unfortunately we wasted the last 25 years on boondoggles, so our replacement frigate is a boondoggle, and our replacement main fighter-bomber is actually inferior in range, speed, and agility to our 70s aircraft while being far more expensive to build and operate.

The next frigate and fighter have to be put out to a real contest, with an actual function prototype in all critical systems delivered, before we sign a contract.

We also need to let US Corps know the happy days of tariff free imports and insourcing is over, so please tell us what you need, so we can subsidize only those programs.

In other words, let's not just throw money at "College Education", let's subsidize high-achievers majoring in key employer-needed fields. In return, however, companies have to employ them, not a one-way street where we produce good grads, but they search all over the world for the cheapest laborer. Nor subsidize more "Transgender Queer Studies" programs with Federal taxpayer dollars.

Also, a Swedish Style Unemployment system where we send resumes of unemployed workers who qualify to Companies, who have to publish a reasonable salary range. After they reject so many qualified applicants, they lose ability to participate unless they pay fines, or maybe even get fined for being too persnikity. And vice-versa for the workers; they can't run out unemployment, they start receiving qualified leads to apply to - maybe even done automatically within a certain geographical range - and if they continually reject offers in line with the national/regional average for the position, they start getting cuts to their unemployment benefits.

Oh, and any company that rejects too many qualified applicants is banned from requesting Work Visas, for the very good reason that they were sent dozens of qualified applicants that met their specs, so they don't need to go outside the USA for that position, since a multitude of qualified applicants were available.
24   TwoScoopsOfWompWomp   ignore (2)   2018 Mar 8, 3:05pm   ↑ like (1)   ↓ dislike (0)   quote        

PROMISE KEPT.

Trump signs aluminum and steel tariff order that will take effect this month – but EVERY country on earth will be invited to negotiate exemptions from 'flexible' policy
New tariffs of 25 per cent on imported steel and 10 per cent on aluminum will go into effect in 15 days, but Canada and Mexico will be spared from the start
Every other nation that has a 'security relationship' with the U.S. will be able to petition for exemptions
Senior official said earlier in the day that talk of retail price hikes because of raw material costs is just 'fake news'
Confusion reigned overnight in Washington with competing news outlets reporting that Thursday tariff signing was on, then off – or perhaps a maybe
Trump tweeted cryptically about a 'meeting' on Thursday, not a signing event, but the White House held the ceremony on schedule
Republicans in Congress had warned the president about economic consequences of a trade war, leaving him unsure about following through

http://www.dailymail.co.uk/news/article-5479393/Trump-ready-sign-steel-aluminum-tariff-order-loopholes.html

Exemptions available for anybody who lowers their tariffs to be reciprocal with ours.




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