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re: Did you oppose or support the 35% tariff Pres Obama put on imported auto tires?
Posted on 3/2/18 at 10:15 am to SirWinston
Posted on 3/2/18 at 10:15 am to SirWinston
I didn't say that we haven't made bad trade deals. Only that tariffs generally have unintended consequences and the costs fall onto the backs of consumers.
0
Posted on 3/2/18 at 10:15 am to SirWinston
quote:He ran on it and any another major economic tax policy (tax cuts) that swung the rust belt.
He ran on it and explained why. It’s how he swung the Rust Belt.
One of them (tax cuts) decreases government's power while the other one (tariffs) increases the government's power. One also benefits the entire population (tax cuts) while one benefits small portion of the population and likely raises costs on everybody else (tariffs).
So if the rust belt can only survive on the one that increases government and benefits few at the expense of many, then we don't deserve to survive.
Fortunately, many cities in the rust belt states (Pittsburgh, Columbus) have shown that we can survive if we actually adapt to economic changes and diversify our economy so not to be dependent on a single sector.
For those who can't or refuse to adapt and put in the work, and instead prefer their own form of government handout, well they're no better than those who also refuse to adapt and put in the work who get a different forms of government handouts (e.g., entitlements).
Posted on 3/2/18 at 10:19 am to LSURussian
quote:
1.1 billion, which translated to an estimated 3,731 retail jobs lost
Serious question. Is this guy showing that higher tire prices made 3700 jobs disappear, or is equating that cost to output? Those are two very different things, the latter being an insane intellectual leap in the context of the debate.
Posted on 3/2/18 at 10:19 am to LSURussian
quote:Since you've made it clear that I annoy you, this probably won't mean much, but I have a lot of respect for someone who is willing to call out bad policies when the person they support proposes bad policies. Plus I respect someone who helps someone on a message board who was trying to adopt a child.
LSURussian
In other words, you may be quite mean to me, but my annoying self respects you nonetheless.
Posted on 3/2/18 at 10:25 am to Y.A. Tittle
Posted on 3/2/18 at 10:27 am to LSURussian
quote:
So why do you think tariffs on imported steel is a wise economic policy now?
Because it is better for our country in the long run.
quote:
Do you support it just because Trump did it?
No, I would have supported Obama in doing it if he hadn't crippled the steel and coal industry.
Trump is trying to bring industry back to the US. He has already cut regulations and this is just the next logical step. Anyone that voted for him knew this was going to happen.
The day after the election the owner of our company called me and the first thing he asked me was if I was ready to go back in the manufacturing business for our products we get from China. Two weeks ago he called me and said we needed to start going up on our prices because he knew Trump was at some point going to slap tariffs on what we import.
It doesn't seem that business owners are scared. The people that seem worried are the ones crapping that their portfolio is going to take a hit.
Posted on 3/2/18 at 10:27 am to FinebaumsHair
quote:That's the best case scenario, IMO. Trump is using the tariff as a threat to China to remove their subsidies of their steel industry and also remove their tariffs on our goods they are buying.
The man is negotiating.
But, frankly, I'm not so sure how much leverage this gives us. Within the last week I read an analysis that China represents 80% of the foreign purchases of our sovereign debt which is financing our budget deficits.
Any significant reduction by China in their U.S. treasury bond purchases would dramatically increase our interest rates on our debt issues.
The resulting domino effect on the interest rate increase on U.S. borrowers would likely throw us into a deep recession very quickly.
Posted on 3/2/18 at 10:28 am to Y.A. Tittle
quote:
How did they tie this specifically to "retail jobs"?
Tire shops
Posted on 3/2/18 at 10:28 am to LSURussian
Yes to both, Russian. We can’t allow unfair trade to continue at the expense of working class Americans. I realize that they would be punished in a different way now, but taking a stand is necessary to try to change anything. Let’s see what happens. Trump ran on it - perhaps it will facilititate a productive negotiation
This post was edited on 3/2/18 at 10:31 am
Posted on 3/2/18 at 10:31 am to SDVTiger
quote:
Peter Navarro made a strong case on why I shouldn't be running around with my hair on fire over this
At a time when he's riding an economic high, this is not a good move.
Posted on 3/2/18 at 10:32 am to buckeye_vol
quote:Respect
Plus I respect someone who helps someone on a message board who was trying to adopt a child.
Posted on 3/2/18 at 10:34 am to MrLarson
quote:
Because it is better for our country in the long run.
Absolutely not.
Regardless of output, steel jobs aren't coming back in numbers. Companies will just further automate.
When the final tally is hundreds of thousands or even a million per job saved, it's not better for anyone.
Posted on 3/2/18 at 10:35 am to Vacherie Saint
quote:You can question the specifics of the number, which was derived based on the jobs per billion of consumer spending then using that estimate the jobs lost due to the decrease in consumer spending as a result of the policy.
Serious question. Is this guy showing that higher tire prices made 3700 jobs disappear, or is equating that cost to output? Those are two very different things, the latter being an insane intellectual leap in the context of the debate.
It's an imperfect way to measure it, but the logic is sound. Basically when we have less money to purchase things, then the things we don't need (like in retail) will be the most likely to suffer. Obviously, it could have cost jobs in other non-essentially sectors (e.g., tourism, entertainment), but the principle still holds.
Posted on 3/2/18 at 10:36 am to LSURussian
quote:
I opposed it. It did nothing but protect union jobs at the expense of the rest of us who paid higher prices for tires.
Good so we have concrete example of how being a protectionist pussy like Trump or Obama isn't good for the country.
I appreciate the quality of your post and hope others will be more informed because of it.
quote:
So why do you think tariffs on imported steel is a wise economic policy now?
Do you support it just because Trump did it?
If so, please surrender your "conservative" principles to that man in the white coat over there because you're not using them any more.===>
Thanks.
Posted on 3/2/18 at 10:40 am to MrLarson
quote:No. Cutting regulations and cutting taxes are really the only logical steps. They reduce government. This increases government. Might as well raise the minimum wage too while we're at it.
He has already cut regulations and this is just the next logical step.
quote:I'm sure those downstream in these industries are scared plus those that rely on more consumer purchasing power.
It doesn't seem that business owners are scared.
quote:Is this where we pretend that we haven't had numerous discussions regarding the idiocy of people hoping for the market to crash for political reasons because those same people, and millions of other Americans have money in that market?
The people that seem worried are the ones crapping that their portfolio is going to take a hit.
Posted on 3/2/18 at 10:47 am to Vacherie Saint
quote:
higher tire prices made 3700 jobs disappear
This.
Price of foreign tires go up, domestic producers raise prices, consumer spending changes.
Posted on 3/2/18 at 10:49 am to LSURussian
quote:
2009 after American companies complained about unfair competition
This is a dumb reason.
But if the real reason is china was subsidizing their tire manufacturers to drive out competition, its a proper response.
Posted on 3/2/18 at 10:54 am to Turbeauxdog
https://www.yahoo.com/news/china-weighs-whether-retaliate-over-065010483.html
quote:
Beijing has accused Trump of undermining global trade regulation by taking action over steel, technology policy and other disputes under U.S. law instead of through the World Trade Organization.
Chinese officials have appealed to the White House since last March to avoid hurting both sides by disrupting aluminum trade. Their tone hardened after Trump launched a probe in August of whether Beijing improperly pressures companies to hand over technology and in January raised duties on Chinese solar modules and washing machines.
"China will take necessary measures to defend its interests," a Commerce Ministry official, Wang Hejun, said in a statement this week.
quote:
Canadian Foreign Minister Chrystia Freeland said it is entirely inappropriate to view any trade with Canada as a national security threat to the United States and said Canada would view any trade restrictions on Canadian steel and aluminum as "absolutely unacceptable."
"Should restrictions be imposed on Canadian steel and aluminum products, Canada will take responsive measures to defend its trade interests and workers," Freeland said in a statement.
quote:
Hiroshige Seko, Japan's trade and industry minister, said at a news conference, "We don't think imports from Japan, an ally, have any effect at all on U.S. national security."
A South Korean trade envoy, Kim Hyun-chong, met with Trump's chief economic adviser, Gary Cohn, and Commerce Secretary Wilbur Ross to "strongly demand" they keep the impact on South Korean companies to a minimum, according to a trade ministry statement.
The president of the European Union's governing body, Jean-Claude Juncker, said the 28-nation trade bloc will retaliate if Trump follows through.
Posted on 3/2/18 at 10:54 am to Turbeauxdog
How is what you said any different than what he said?
Posted on 3/2/18 at 10:59 am to buckeye_vol
quote:
going to take a hit.
quote:
people hoping for the market to crash
Those aren't the same, please try again.
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