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re: Trump imposing tariffs on all steel, aluminum imports; exempts Mexico and Canada for now
Posted on 3/8/18 at 4:21 pm to Iowa Golfer
Posted on 3/8/18 at 4:21 pm to Iowa Golfer
I guess my main thought is I just don't see any benefit coming from it, except maybe scoring some political points in the rust belt. I own restaurants, and not an economist, so maybe I have no clue what I'm talking about. I just don't want to lose my margins on French wine.
This post was edited on 3/8/18 at 4:24 pm
Posted on 3/8/18 at 4:24 pm to Usafgiles
quote:
I just don't want to lose my margins on French wine.
There is such a glut of wine I don't think you have anything to worry about.
Posted on 3/8/18 at 4:26 pm to Usafgiles
quote:
. I own restaurants, and not an economist
You are probably a better economist than most.
Posted on 3/8/18 at 4:34 pm to Usafgiles
Then due to your business you have actual empirical date. Kobe beef. Polices that essentially were a tariff. So we did it to Japan, and they retaliated. Then everyone settled down, and some of those cattle, from that one specific Japanese Prefecture were allowed to migrate. First to nearby prefectures, then to Australia and America. And A5 Wagyu is pretty hard distinguish from Kobe.
Eventually, the price of Kobe in America decreased. Eventually, some Wagyu, not classified as Kobe, actually exceeded Kobe according to some.
Last time I had Kobe at a high end place, 25 per oz, last time I had really good Wagyu at a high end restaurant, 32 per oz. First time I had kobe? 50 per oz.
Actually the entire Kobe tariff, or policy that essentially created a tariff, was more absolute and strict then what we're now discussing.
But anyway, we still don't know which direction steel and aluminum take so premature. Was it good political theatre and strategy? Maybe, and given what we know as of today, I'm in favor of the smoke and mirrors. That could change in 15 days, but for now, no big deal.
As an aside, as an investment, I own a minority equity position in a metal scrap yard. Stainless is really the money maker, although not entirely. I have a bit of an clue about the steel industry. Probably not as much as some others I've seen post on here, but I pay attention as it impacts my distribution and K1 form that particular investment.
Eventually, the price of Kobe in America decreased. Eventually, some Wagyu, not classified as Kobe, actually exceeded Kobe according to some.
Last time I had Kobe at a high end place, 25 per oz, last time I had really good Wagyu at a high end restaurant, 32 per oz. First time I had kobe? 50 per oz.
Actually the entire Kobe tariff, or policy that essentially created a tariff, was more absolute and strict then what we're now discussing.
But anyway, we still don't know which direction steel and aluminum take so premature. Was it good political theatre and strategy? Maybe, and given what we know as of today, I'm in favor of the smoke and mirrors. That could change in 15 days, but for now, no big deal.
As an aside, as an investment, I own a minority equity position in a metal scrap yard. Stainless is really the money maker, although not entirely. I have a bit of an clue about the steel industry. Probably not as much as some others I've seen post on here, but I pay attention as it impacts my distribution and K1 form that particular investment.
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