Maybe Trump can get a US-EU trade balance by exporting US coal to Europe ? You know that "Beautiful Clean Coal" stuff he campaigned on.
America , what have you done to yourself ! Are you really no better than Trump & his vile abettors ? Are you ??
2
E.U. Pledges to Fight Back on Trump Tariffs as Trade War Looms - Yeah, they will stop sending us frozen schnitzels.
Only an idiot does this. But, it may be the only thing to finally get Republicans to see why most Americans are against this president. And.... maybe that's what it takes.
4
As an EU resident, I'm really shocked that your system doesn't have checks & balances to stop a moron like Trump from ignoring sound economic advice in order to follow one person's stupid and dangerous whims.
I, for one, will be boycotting ALL US-made products (except the NY Times, of course).
7
okay, the whole system the United States of America set up after the second world war and everybody benefited from, Western Europe very much so, are being rolled back - are USA losing their own game ?
What about the rest of the world just left the US alone - you live it out with your
magnificent new president - the rest of us, accept and ignore......
3
When will American Citizens accept that "Dereliction of Duty" Donald Trump is not an agent of democracy, not an agent of "America First" but simply a con man who is out for himself and his empire of ill gotten gains. His "empire" was built on illegal loans and bribes from Russian oligarchs and they have called their loans due. This means he is Putin's stooge and his job is to drive America's stature into oblivion.
I for one, am transfixed by the job he is doing: He has single handedly destroyed the moral fiber of the Republican Party ; he has the far right and the left ready to come to blows; he has weakened the FBI, the CIA , the NSA, and Economic Advisors. Our allies distrust us. He has destroyed the Office of Government Ethics and has created a culture of acceptance of bribery, infidelity, an corruption beyond anything I have ever believed I could witness. How does manage to continue to have the Evangelists continue to support him as he pays off porn stars and admits to grabbing the private parts of Beauty Contestants? The man is an absolute magician!
Our country is in the hands of a disciple and devotee of Vladmir Putin and Trumps goal is to sculpt our country into an Trumpian Oligarchy in Putin's image. Russia First!
Thank You Donald the Traitor! and the members of the republican Party who kiss your ring.
4
At last, our somewhat impotent President can do something which doesn't involve a porn "star", or the hard work and intelligence of others. You own this, Donald. The Great Trump Tariff will be in the history books right next to The Great Wall of ---- (to be named later).
3
A continent of losers. A decade hence--Brussels Committee of Public Safety will be looking for work as grammar school road-guards in London.
1
You mean president Daniel Denison?
2
Reality check usa doesnt need to trade its very capable makaing evverything it consumes an waste now. Millions of jobs will be created by usa becoming self sufficent an oceans will be better off no polution. Trump may have single handly change globil warming an save are planet ruin next generation
Reading these comments, it seems like the Russian cyber-troll army may be out in force, flooding sections for articles like this one with opinions diametrically opposed to the content, helping to drive the wedge by ballooning one's perception of the size and attitude of the opposition, here and between the US/EU. Not that they need to work very hard--the Moron-in-Chief is more than capable of obliterating decades of hard work simply because someone told him he should do the opposite. Very childish Psych 001 stuff.
5
You got yourselves a real winner Americans.
3
More alarming than the tariffs is the public vitriol between the US and its most important allies. Some very bad actors are salivating.
2
How can you say Cryn' Ryan railed against tariffs? He sent his spokes person out to do it.
4
Simply put, HOW do we save the U.S. - and the world - from Trump, who has given himself powers that no other president has, and is destroying our democracy, the environment, our health and healthcare, civil rights, our safety, and now the world economy! HOW do we STOP this Madman???
5
Putin is loving this. He is sitting back and watching the free world implode.
6
I think its great that they are targeting products made in the home states of Paul and Mitch. Maybe this will wipe that plastic smile off of their face and maybe, just maybe, they will be voted out of office!!!! Make America great again has taken on a whole new meaning.
8
Of all the foolish actions Trump has taken, this one is somehow most shocking -- because it will have the longest term and deepest negative impact.
3
REALITY: increasing the tax on EU cars to 25% is overdue
In answer to jimsr: Why is "increasing the tax on EU cars to 25% overdue"?
I'm interested in your reasoning.
What is the current EU tax on US cars that would justify what to me is such an odd claim? I also wonder, what constitutes an "EU car". A European Fiat, Volkswagen, or BMW, that are actually manufactured in the US? What benefit would be derived from such a tariff? What do you think would happen when the EU raise their tariffs against us in retaliation and we export fewer cars to them? Who benefits?
What do you see as Trump's vision, beyond just predating on anger and frustration?
I'm actually interested in your answers, because I simply do not understand the reasoning behind this even a little.
3
If 45 goes ahead with this, it will be a clear sign that there are people in this administration who want to damage US relations with Europe - the cornerstone of the American-led international order since the end of World War II. At whose bidding, we can only take an educated guess...
7
Both, Dems and Repubs, sold American worker long time ago. It's time for FAIR TRADE. Progress!
BTW, where are the Steel Unions? Shame!
Humm. Can Blue states add a tax to Bourbon and Harley Davidson? I would love more money going into my state's healthcare funds.
2
Perhaps we should put a tariff on baseball caps and neckties made in China.
4
Goldman Sachs reported that Trump's tariffs would hurt Canada, Mexico and the European Union more than China and... you guessed it, Russia.
In fact, Putin could be the biggest geopolitical winner of all if Trump's tariffs drive a wedge between the U.S. and its NATO allies.
Meantime, Trump has finally tweeted some vague, smoke screen banalities about Russia's attempts to sabotage our elections.
Could Trump's bias for Putin be any more obvious? Putin must have something bigger on Trump than $130,000 in hush money for a porn star.
6
I have no doubt the United States would win a trade war, but we will all be losers.
In lieu of a physical wall with Mexico, Trump appears to be building a metaphorical one around the country. A moat. He’s be right at home in the 12th century.
3
and the USA does this to it's allies, it's matesa and then expects support against enemies. The U.S. public might take the buffoons behaviour on the nose but the rest of the world wont.
1
USA Bob to a friend
USA"Did you know that I was in a trade deficit with Wallmart?"
Friend "C'mon,it does not really matter, you are printing the money you pay Wallmart with"
USA"You are right...Wallmart should be worry then"
Friend "You bet, look how big is your debt and you are on a negative cash flow!"
USA "I see"
1
Just what we need now....antagonize our allies when Russia and China are ascendant.
2
When wise Americans elected Lincoln - the fools brought war. That war proved Lincoln and his electors right and in the end saved the country - though after great loss. The South has yet to recover, and it is still the region where fools are dominant. When the fools elected Trump - he brought aggression against our allies and it looks like an impending trade war. The fools and Trump will lose again, the wise be vindicated again, but the country will once again suffer for the actions of all its fools.
4
I never thought I would be writing this, but I hope the rest of the world shows the United States the folly of Donald Trump, even if it costs us jobs, a recession and international humiliation. And I hope that Gary Cohn spends some time in the next few weeks examining his conscience and asking himself why policy was the last straw for his tenure under this mentally ill autocrat, not the sight of Nazis chanting Trump's name as they saluted him. Our country needs to be rescued.
4
This is an action that must certainly be loved by Putin. Mr. Mueller,... please hurry, we are under attack.
3
I think this is just Trump being Trump. He is playing a game of chicken and he wants to the world to blink first. He is hoping to extract concessions out of steel and aluminum exporting nations in order to garner a better deal for the U.S.. That in and of itself is not a bad thing. BUT..(dramatic pause/eye role/sigh), as with most things Trump his method of how he goes about things that so many take offense to. Even when such methods sort of work, such as one could argue is the case with North Korea, the success is lost because everyone is still to horrified by his methods to recognize that success. Sort of like if the neighbor's dog is barking and driving everyone crazy you go and shot the dog. Yeah the barking stopped but you killed your neighbor's dog!
Boiling it down to a single point, the means don't matter just the end results.
3
I struggle against despair most mornings but have also noticed that I no longer feel surprise. We are lorded over by an entitled, ignorant xenophobe who hates to be told any version of “no” (he apparently can’t even countenance versions of “that sounds like a bad idea”). As a legend in his own mind, governed by feelings and Fox News, he will perpetuate the cycles of terrible and impulsive decision making that have bankrupted many of his previous private schemes. This time, the American GDP is at risk and I suppose it serves us right for not doing more to keep him far from any legitimate seat of power.
2
It is, in a word, “balance”, and Trump is merely recognizing the imbalance. Few countries have lower tariffs than the US so why should they be up in arms? Let them do as they please and if they choose to retaliate so be it. Trump is not so ignorant as to discount that possibility. Give him some credit.
1
A semi-senile commerce secretary with deep associations with the US steel industry sets up a impromptu unstaffed meeting with his friends and an ignorant president . What is wrong with this picture ? Said president then announces sweeping tariffs without consulting with members of his cabinet most concerned by trade, industrial and national security policies . This is getting better all the time .
There is no need for a trade war . There are as many kinds of "steel" as there are days in a month . Some, the US produces in excess quantities and exports (including, of course, to Canada from which it imports a different quality of metal) . Some, the US does not produce or produces too little and must therefore import . Of course, the situation is not as clear cut as that, but to a great extent this apparently blanket policy will do enough to upset the supply chain in most industries requiring steel and steel products to provide deep disruption and increased costs to everyone concerned .
Another win for trump .
What? There will be retaliation? But...but Peter Navarro said they’ll just take the tariffs because they know they’re wrong. Contra, the experience of every president who ever put up tariffs. The only people surprised by this are going to be in the White House.
2
The US government deficit is fundamentally caused by the exportations to China, Mexico, etc, of US production. So the slaves overseas are doing the work, while the higher class in the USA does not have to deal with pesky, expensive US unionized workers. Increase profit, decrease labor, grow plutocracy. What isn't there for plutocrats, our lords and masters, to like?
Otherwise Trump is bluffing. Trump is trying to cut a deal about NAFTA/ALENA. That’s his dangerous and silly negotiation mode. Europe should ignore his craziness, but Europe, like Trump, is trying to make the peons believe it is doing something, when actually it’s doing even less.
This is how the crash of Wall Street in 1929 was engineered. After the markets crashed, they recovered, as the US Senate hesitated. However, the situation became catastrophic in 1930. Then the Smoot-Hawley tariffs were imposed, and Europe retaliated in kind. It would have been better to keep European production in Europe, buying the cars from government money , and selling them at a loss. That would have been socialist, and only the USA would have suffered.
There is a real problem with exporting production to China and their ilk: France becomes a museum, the USA is where the homeless, health care-less bums are roaming, the UK sinks in Brexit oblivion, Mediterranean Europe is workless, Germany crazy, etc…
Result? In GDP at PPP, China has shot over the US and the EU28, and is rising exponentially. Time for something else!
The child in the Oval Office will do anything to get more attention today than he got yesterday. Anything.
The world watches his tantrum and marvels that the parents, who have always let the child run the family, are now surprised that the tantrums are escalating.
Astonishing that Congress has allowed the fall of the USA on their watch!
3
The Europeans ought to keep their powder dry.
This movie has not played yet.
It sure appears that the POTUS is rethinking this "war".
Better not to give him more ammunition at this stage.
What's surprising is with Bannon out - his ain adviser on thus disastrous policy is a supposed billionaire - Mr Wilbur.
I know Wilbur made his money buying distressed assets and then putting lipstick on them to sell at hefty profits.
Someone should tell POTUS that perhaps Mr Wilbur is setting up a good "put" position on some of our American companies who will suffer on account of this foolish, short sighted move.
Finally, POTUS should be reminded that his "prodding" of EU to increase its defense spending - he is giving them a ready made decision why they cannot meet his demands. Their economies will suffer.
Either way, as much as the POTUS promotes America - and I am a big admirer - he is handicapping America just when he has turned things around.
Trump acts as though America lives and trades in splendid isolation.
Rookie mistake,Mr President.
1
Donald has an exquisite talent for alienating our allies.
1
If I have a look on steal using EU, or German, glasses:
https://www.trade.gov/steel/global-monitor.asp
Among the top steel exporting countries number 5 is a member of the EU (1 to 4 are China, Japan, Russia, and South Korea; USA is ranking number 16 in this list).
Among the (first 5) top steel importing countries two (Germany and Italy) are top importers - in this list the USA is ranking # 1.
If the top steel importing country imposes tariffs on its imports ... what may be the effect? Highly likely, that it will lose its top place as importer (to Germany?), and steel will become more expensive in the US (and less expensive in the rest of the world).
Reading in addition (limited to the German national pesrspective)
https://www.trade.gov/steel/countries/pdfs/exports-germany.pdf
"Top three markets: France, Poland, Italy"
+
"The volume of Germany’s 2016 steel exports was less than a quarter the size of the world’s largest exporter, China. In value terms, steel represented just 3.3 percent of the total amount of goods Germany exported in 2016."
I would say:
"... President Trump’s plan to impose penalties on imported steel and aluminum, raising the specter of a trade war."
So what? Who cares? Let him do so! Forget the specter!
Peanuts for the rest of the world. In five years USA will rank # 100, or 200, as steal exporting country. So, so, what?
Moe, Larry, and Curly ran Moronica better than Trump runs the US. But they started out in vaudeville while Trump is just a sideshow for the republican circus and their looting, again, of the Treasury.
1
"The president warned that the United States would also consider raising its tariffs on cars made within the bloc if the European Union were to retaliate."
Well, that would mean that the US declares war on Europe. Period.
The top 10 US exports to Canada are:
Automotive parts and accessories
Motor Vehicles and Spare Parts
Industrial and electrical machinery
Plastics
Computers
Chemical
Petroleum Products
Natural Gas
Agricultural Products
Really want a trade war?
1
What would be really cool would be for the entire world to ban any and all business related activities with Trump, his family, or any of his associates as a response to Trump placing tariffs on aluminum and steel. Bet Trump would fold like a paper tent….
2
We are back to the same problem: Trump and his followers don’t read! If they did, they would know products come and go, boom and bust, as new technologies and better products come along. In England, go to Cornwall where thousands mined slate in the 19th century. Now the mines are empty relics a few tourists visit. Go to the midlands where sheep and their wool made millionaires and built mansions and infrastructure that still stand today as reminders. But the old mills are rusty relics. The wool industry is much diminished. It was replaced by newer textiles. Britain loves to eat lamb that we imported it from New Zealend for hundreds of years but the local industry survived. Britain exported other stuff to them in return. Everyone was happy. The steel mills in the US have died because of competition partly but the employees have also been replaced by technology. Trump likes technology with his twitter feed and then talks about failing newspapers!. They are not failing because they are bad, but because of people like Trump!
1
The wealthy support Trump because he isn’t Hillary, although Hillary would be treating them almost as well....they are willing to wreck the country (or accept that the country be wrecked) for the difference between rich and richer.
I’m tired of winning.
1
That's what friends are for ? trading threats and tough talks before negotiations. What good outcome can you expect when EU/US deal with China or Russia ?
1
Our Manchurian president is simply continuing to act as a disruptive agent by imposing tariffs that will negatively impact relations with our closest allies. carrying out an overarching plan to wreak havoc on NATO, post world war two international law and alliances, etc. His intentions are hidden in plain view. He is also distracting the public from the Russian investigation....
1
Of course negative reactions would have no impact on Trump. As the saying goes, "where there is no sense, there is no feeling".
1
USA was not an oil exporter, unce it invented the fracking it reduced the cost of extracting it and now it is one major exporter. Could the steel and aluminium industry discover a new technology to reduced cost to manufacture them without starting a trade war with our European friends?. This unfriendly treatment to our allies will start opening the door to China and Rusia to influence the EU and distance from us. Serios discusions and analysis regarding the main reasons for our trade deficits with all importer countries and mutually crrective actions could have been beter than rush tarif imposition.
Many countries área dissatisfied with what president Trump wants to do to want historia country to stand out as one of the best in the world,and as a result, it has generated several conflicts with other nations.
Go Independent and revisit 'The World in 2020': Power, Culture and Prosperity - A Vision of The Future by Hamish McRae published in 1994. It is a lot to ask but perhaps David Brooks could take a look at the above, while keeping in mind that Mr. McRae might have updates.
This economist and author is a moderate, a considerate person with a brilliant mind and above all, he is tuned into our planet. There may be a link between these two witnesses of what is happening in this world of ours and a clear way of telling some of us why this Trade War looms.
Let us not go to the Merry Widow-Maker yet, but keep us in the loop while we go about our daily business in conformity with our nature for some of us are alert and awake.
Thanking Milan Schreuer for opening this gate of debate.
If "unfair trade" has been so bad to American workers, how come we currently have the lowest unemployment rate in four decades?
We should all remember that True-ettes less than a week ago were sending in comments that Trump's tariffs would not start a trade war, that the countries sanctioned would simply accept our actions and would not dream of retaliating.
1
I should watch my spell checker, sorry. I meant TRUMP-ettes. Some of those true believers will by now have forgotten that less than a week ago they were singing that there would be no retaliation, no trade war.
The law makers must vote to block these counterproductive moves. It will also teach a lesson; congress has equal and in some cases more power than the president. This is not a monarchy!
Free trade is a figment of imagination in the minds of neoliberals. Or rather in the minds of the wealthy who made yuge money off free trade, interest free banking, no national health care, and particularly our corrupt political system. Free trade is one of main reasons for our income inequality. It has decimated the middle class. Free trade is what caused wholesale closure of many steel and aluminum mills that has made us dependent on imports. As much as I detest Trump, he seems to understand this. It should have been allowed. Now, we are going to have several years of pain until the capacity is built back up and other factories return here. US is a huge rich market, but the corps, which hate the unions, needed free trade to be able to manufacture cheaply off shore and bring the products back home. Now the same corps are crying there are not suppliers for the products they need. Time to think about this was before the suppliers they need were forced to close. I, for one, don't feel sorry for these people. Let them eat cake.
If i were Putin, I'd like nothing better that a trade war between western allies and the accompanying bad feelings that would result. Not to mention the added bonus of destabilizing the economies in the west. I'm hoping people smarter than I am, whose job it is to think about this stuff, have their eyes on the ball....
The problem the rest of the world has with Trump is that he is mentally living in a world of 1930s and views the current world as such. He has had some kind of mental arrestment of faculties which continues to project this image on his vision.
Europe and the rest of the world must understand that Trump actions are not to be taken as "normal" and all must be viewed as potentially flawed.
It is important for EU to react strongly and swiftly in the fact of Trump tariffs and not to give any room.
EU must now think of joining with China, Canada and Mexico in a new kind of trade bloc-Nations against Trump Tariffs-and work together to make retributive tariffs more biting and more effective.
This is a typical E.U. response: weak and wimpy.
Europe needs to move aggressively and with confidence to protect it's interests.
It also needs to make the case that its business operations are completely different from that of China, which has been accused of dumping steel onto western markets.
First, workers in Europe are paid a real living wage. Second, companies need to follow strict health and safety regulations. Third, all goods and services are taxed along the entire production process before arriving at the market place. And finally, these industries receive no state subsidy like in China.
All this is talk.
The Europeans need us more than we need them.
All we have to do is threaten to take our arm forces from the military bases we have there.
They know Trump if push comes to shove will do it.
They really have no choice.
They are not willing to spend the money it will take to defend themselves and neither do they want to put their children in harms way.
I hope they actually do go thru with their pledge as the USA has fought their wars to often and should not spend money that can be better used to build the infrastructure that is desperately needed here.
So if this can be used as a reason to cut our military budget it will definitely be worth it.
With the money we save all our industries can be subsidized so we would not need the Europeans.
The Europeans are too smart not to see this and they will not fight back with tariffs of their own.
We all cut this pie in different sections, but it seems our self appointed 'genius' Trump wants one thing, and it was the same thing he got with his tax cut law: more profits to businesses. So, why do we have to use tariffs to attain this. It is evident Trump doesn't like competition. Like why have so many U.S. companies moved off shore or invested themselves in foreign countries to produce products they no longer could provide in the U.S.: profits, that is why. So, why not just take the lost business due to imported steel and aluminium and have the Gov't subsidize it (like our agriculture industry) give the companies a credit on their tax statement such that now they are competitive in the world market. We don't have to take this issue down to tariffs on exports for orange juice, cranberries, bourbon(I have a person interest on that one), motorcycles, etc. that other nations will impose to us. This isn't a trade issue, it is an ego issue we have with our self appointed 'genius' Trump.
Oh, the web we weave. Very difficult to make policy changes once in place as the world now decides how "unfair" we are. Similar to putting squeezed out toothpaste back into the tube.
The reality is industrialized nations are not in a position to compete with non-industrialized nations much of the time. We're simply not able to lower our wages to their levels. Probably a good thing but side effects ultimately surface.
The United States at one point had a substantial manufacturing base. Obviously much of it is gone now as we couldn't compete with other nations. Is that a good thing at the end of the day? I have my doubts...
2 years ago I walked into a KMart and I was near the toy section. It was close to Christmas and they had stacks and stacks and stacks of boxed product sitting on the floor. EVERY single product stated "Made in China". Is that what we as a country wanted as the intended result of trade?
Can the toothpaste be put back in the tube? Why do we deal with a country that ignores our copyrights' and trademarks? To say nothing of basic human rights? And now, their leader intends to rule for life and has been given permission to do so. As the dull knife in the drawer I just don't get it.
But I guess that's why we have Masters of the Universe running around on Wall Street.
2
First on Trump's list of tariffs should be all those products coming in from China with a Trump label.
25
the President does not realize that he is starting a trade war, at the end of which no country would be the winner, not to mention the internal conflicts that it will cause in each of them.. Even the most junior economist could advise him to move differently, at the end of which he might be able to achieve his goal without this dramatic move.
EU proposes retaliatory moves are simple, targeting key Republican States and placing tariffs on products they export to Europe. Simple, but although less in Dollars/Euros, a well planned battle strategy that would hit the GOP HARD, where it counts. It is the juggler, as the seats could very well be lost to the Democrats as their exports from those states will drop substantially and impact negatively on their standard of life.
The loss in goodwill and support to the American sometimes questionable policies on the International scene, would be more difficult to reinstate, as the EU is already concerned about Trump pulling out of agreements, his predecessor made, the forefront of which being Climate Control and the IRAN nuclear Deal. Europe is known to adhere to their agreements and frown upon others who break theirs"
It is not too late for Trump to change this aspect of his policy (if he has one )to bring down America's huge Trade Deficit, and could perhaps deal with one country at a time behind closed doors.
14
It is possible that Trump is failing and planning to take us with him. He may realize this. A friend from Puerto Rico once wrote 'We are now waiting for Trump'. The sorrow of it all comes to mind this early dawn, while this Believer in America has hope that we will reconcile our differences and unite during this dangerous moment. Let us not wait for Trump, but look about us to see what we can do for Our Country.
A philosophy of a free market economy would advise the EU not to fire back with own tariffs. Simply let the US of America impose import tariffs - and let do the rest the free market - or rather, abolish in addition the import tariffs for (state-subsidized) Chinese steel in addition.
This will cost jobs in the EU in the steel industry, correct, but may help other industries in the EU, and the consumers (benefitting from Chinese subvention of steel).
So, EU, say thank you very much Mr Trump and Mr Xi, do simply nothing in addition, and let regulate the rest by the forces of a free market.
3
The whole point of the EU to manage balanced trade by stopping dumping and any price-fixing. The EU adopted high tariffs on Chinese steel. The EU fined APPLE for their tax arrangements in Ireland that broke the rules. Trillions stashed offshore in places like the CAYMAN ISLANDS as we know from PARADISE / PANAMA PAPERS? See rows of super-yachts in MONACO.
Britain leaving EU for reasons that defy logic as it will be subject to EU tariffs. No chance of City of London as EURO trading centre. Hence Goldman Sachs relocating to Frankfurt. Germany just awarded big bonus.
How might it help other industries in the Eu? The Eu isn't La La Land.
Sounds somewhat fanciful. ignoring the very real fact that the free market is a myth, there will be a heavy political price to pay for european diplomats if they fail to retaliate. the calculation they will be making is likely to be on the basis of the actual impact and how long it will last as the wide assumption here is that trump will be gone within the next 3 years and the adults will be back in charge. so while harsh knee jerk tariffs in response might be cathartic, the exercise is likely to be more focused on damage limitation and not throwing the baby out with the bathwater and having to renegotiate everything in 2021.
If George Bush's Iraq invasion caused the initial cracks in the US-EU transatlantic alliance Trump's trade war has done the remaining part of damaging the ties, bleeding both the sides in turn.
15
Let's all commit this to memory: President Magnificat, aka Trump, welcomed this developing trade war against Europe, Asia, our allies and others. He launched it unilaterally as an exercise of his divine right inside his larger, grander delusion of being our monarch.
53
Trade is not a zero-sum game. If our allies or anyone else willing to buy American products gets wealthier, that's usually good because they will spend more on American products. When trade brings about steady, secure, sustainable development, everyone benefits.
10
Do the people running the country really think our economy grew to the size it has by making rash decisions every other week? Sure maybe the economy continues to grow but it has inertia. Apparently the only thing keeping business moving in the right decision is "optimism" due to Trump, but what of it when the businesses learn that means nothing if we're constantly losing business to China that we don't have to be? Eventually things will turn around if we are playing around like this.
15
No one is running the country.
This fellow Trump has no idea what he's doing. Whatever it is, he does it very loudly.
58
As yes, the axiom: if you can't make a good argument then make a loud one.
Australia exports 500 million dollars of steel to the US each year. Might seem like a small amount, but to a small country like Australia, placing a tariff on that could be a big problem.
Thanks, America.
41
So don't ask Australia to fight your wars for and with you in the future.
No sir. Thank Donald Trump. #NotMyPresident
The items the EU put on its retaliatory list--T-shirts, bed linen, tobacco, cranberries, orange juice, etc.--is a poignant commentary that we don't manufacture much anymore. Perhaps we need some tariffs to improve our manufacturing base.
9
You probably already read this, but by placing tariffs on steel and aluminum, we will raise the price of our manufactured products including cars, planes, etc. I wonder if they are targeting pro-Trump and/or Southern/red states? Although, Cranberries are a blue state product according to some quick research.
5
Tariffs will not improve the manufacturing base, it's just a cheap and easy fix to prop up industries - rightfully going against the conservative mantra of self-sufficiency. We need to understand why our manufacturing industry is receding - it's no longer the focus of our economy. We have moved from agriculture/mining, to manufacturing, to services. It's the natural progression of any country's economy.
Moreover, if we really want to improve our manufacturing base, we should invest in education, to keep our workers up-to-date; but the latest tax bill cuts funding to education. We should invest in R&D to improve automation, processes and other goods that we can manufacture; the funding for that has been cut too. We should improve on the working conditions of American workers, giving them proper paid time off (especially pregnant moms) and paying them a living wage (I won't go into minimum wage because I've personally got mixed feelings on that part).
Any one of these can vastly improve our manufacturing prowess, yet none of it is happening. These tariffs will do nothing but destroy us and our already-battered standing in the world.
33
Steel tariffs might help the republican candidate in the upcoming special election in Pennsylvania.
So ... instead of worrying about REALLY dangerous deficits (the current federal deficit for instance, knowing that overall debt is historically high, since G.W. Bush left with a record and structural $1.4 billion deficit, which Obama did manage to cut by two thirds but that already Trump is increasing extremely fast again because of his corporate tax cuts), Trump invented an imaginary enemy: trade deficits.
This kind of rhetoric appeals to citizens who fear that the only enemy the US is facing today is "the world", rather than wealthy Americans, but of course, increasing tariffs will have as a consequence that other countries will do so too. Result: much less "free trade", more "regulations", and probably simply less trade AND less US jobs.
Nothing shows better how utterly disengaged the GOP has been and continues to be, when it comes to the US economy, and how they're totally focused on using the government in order to increase the wealth of a handful of wealthy donors, even though such new regulations destroy the greatness of America's economy and as a consequence ordinary citizens, than their continued support for Trump (even though they CLAIM to disagree on tariffs).
The only question now is: how long will it take before Trump supporters will realize that they've been lied to and have been betrayed ... ?
41
Well, not sure I'd blame the whole GOP for the Tarriffs... it is all Trump. The budget deficit, on the other hand, has certainly been made worse under the GOP. Republicans will have a tough time blaming their own party. Selective perception is strong. Talk to them... they will tout deregulation, the stock market gains (which had already been going for a decade), and tax cuts to boost the economy (which, arguably, did not need a boost). If you talk to a clear-headed conservative, they might even agree with you about the President's moral failings - but they don't seem to think they've been lied to.
Trump supporters are not critical thinkers, they are believers who rely on faith. They have faith in No. 45 and no faith in "liberals".
Looking at evidence and making informed decisions are not their forte.
One problem with the EU is that it is bulky and awkward and cannot move quickly. If it could it would have the retaliatory trade measures truly locked and loaded so that if Trump were to impose his tariffs, their measures would apply at that same moment. That, Trump would understand. Perhaps.
7
On the contrary, trade policy is an exclusive competence of the EU, where the European Commission (the executive/administrative branch of the EU) has the power to represent and negotiate trade agreements on behalf of the Union.
There may be other policies where the EU is not as quick to react because it has to get the green light from the Member States but trade is not one of them.
10
Mickey, you say that the EU is bulky and awkward and cannot move quickly. I would ask in your mind how does it stack up to the US Congress?
1
Following Trump on Twitter is a bit like being a parent. A child often have great ideas when seen in isolation but would very often leads to tears or worse if no adult would stop them in time.
Trump is like a man that has lived in a bubble and suddenly sees the outside world for the first time. He would need an adult that preventing him from hurting himself. And the nation he represent.
22
Trump owns the GOP, so Ryan and McConnell can shut their faces and get on the team. Team Putin that is, because Putin owns Trump. Vlad and the Donald will let the congressional leaders know when they are required to serve the Donald. These loathsome little elected officials should remember that they are just Russian lackeys after all. I mean, they should know their place, and that places is groveling at the feet of the exalted leader. I am absolutely sure they will get the hang of it as will the rest of the GOP and their cult follower base.
48
Sadly you are right...
If you look at the current account balance (% of GDP based on IMF 2015)) you will see that USA & Canada had, respectively, a negative % of -2.25 and -2.10 so following Trump logic life will be better in countries like Vietnam (+4.92) ,Venezuela (5.28) and Russia (3.20)!!!
Trump is an idiot who look at one specific issue and believe that this is the ST-GRAAL...it is more complicated that what Trump thinks...a bit more than healthcare!
At last, Trump is stepping into his role as leader of the free world! He is uniting the former allies of the United States in firm opposition to the country he holds captive.
#LetMeOut
59
No one has ever won in by trade war. If you are selling your products globally why you are not allowing to other countries do business with your country? Since you are driven by capitalism and free trade is the basic foundation of capitalism why you are interrupting regular flow? Consumers have right to get better quality products in cheaper price no matter who or where it was produced.
7
These tariffs are Trump attempt to ruin the (good) Obama economy.
34
So they can then justify decimating social programs for the poor because of the troubled economy.
Do you mean the “stagnent” Obama economy?
1
Probably a dumb move but what Trump wants to do is get the EU to squeel first, lower their own tariffs and be more responsive to American demands. Its the stiff arm negotiating tactic that Trump is used to. With high unemployment, the EU will have to concede. China on the other hand won't and this trade spat will only play into their hand. Decent short and midterm move but not long term, of course it only matters for a year or two in Trumps world and well the finance economy we live in.
3
Par for the course. The EU previously threatened suit over US Corp. tax cuts citing WTO anti-competitive behavior. Yes, the EU feels the WTO should manage domestic tax policy to their benefit. TPP and Paris were also attempts at regulating transnational trade policy, mostly to the US detriment.
Trump's tariff here are primarily about Canada and Mexico using Chinese steel in exports. China is a secondary, yet not important, consideration. The EU, who slapped on steel tariffs last year and is much more protectionist in general, is a tertiary target.
When Trump withdrew from TPP and Paris, the world reaction was similar. Anti competitive whining from overseas heavy industry, pessimistic economic outlooks, everyones will be a loser - especially the US. You would think the world would be happy stupid America is adopting wreckless, anti-anti-compeitive economic decision because, eventually, other countries could turn our protectionism into their competitive advantage. But that's not what we're seeing. And that's telling.
4
Most European citizens were staunchly against TTIP as well, funnily enough because they believed it massively favoured American manufacturers and would flood European markets with poor quality analogues (especially food), and open up European healthcare to US vulture interests. it's death was not mourned in the slightest.
The scariest public announcement in the Western World:"President Trump has made a decision."
26
Meh...let’s see how Europe reacts if we pull American troops out Europe and let them foot the bill for protecting themselves. I hope they can learn to speak Russian.
4
Maybe Trump could get the unemployed troops working in the new coal mines and steel works perhaps?
1
Meh...let's alienate all of our allies and isolate ourselves so that we aren't in a position to protect any of our interests in the world.
Look up Russia's defense budget. It is smaller than the amount we just raised our defense budget through deficit spending. Europe will be just fine if we remove our bases.
Trump's ignorance is showing is spades.
While the US may have the most military power in the world, the US is not the only game in town when it comes to trade. Of course in Trump's myopic world he does not see that.
But when red states start feeling the squeeze on their export production, there will be a lot of hammering on the Oval Office door.
Unless he weenies out like he usually does and backs down.
11
Actually Russia may have the most military power these days and the Chinese economy using parity purchaing power to measure it is already 20% larger than the US economy
He already is. He should never have included Canada in this, and now he's backing down. That's rational, but why not just leave them out to begin with? The poor Canadians have had a tough week for no purpose.
Amusing to read the over the over-top-reaction of progressives and democrats to their equally unbalanced and extreme counterpart.
3
I've found most commenting here to be fairly calm. How about the Republican Gary Cohn resigning over the Tariffs? Is that an "over-the-top-reaction"?
Dear Europe:
Tariffs on chewing tobacco? What about full ban of all American made tobacco products? Or is that cruel and unusual punishment for your own people?
6
What a clown? He thinks by taxing imported steel, aluminum and similar goods he will balance the trade with foreign countries, then he needs to go back to the basics of international business. He needs to look at the domestic policies, tax reforms which has done nothing to the trade but shifted money from the poor to the rich, corruption within his own Republican Party, so on and so forth. If Canada can produce steel at cheaper price despite the same labor cost, same environmental rules and supply it to us then something is wrong with our steel industry. May be CEOs are profoundly over paid, they are rewarded for closing the plants, and have no incentives. However, in less than 48 hours and losing his top economic advisor, he is willing to consider some alternatives....does this self proclaimed deal maker crook know what he is talking about?
16
You are right!
Canada probably produces steel under stricter selfimposed environmental rules then the US does and still do it cheaper.
An other problem is that manufacturers in the US food and precision intruments industrie can not aquire the same quality of steel and aluminum (on short notice) from other regions than Europe so the quality of manufactured products is also going down.
Both our economies were on the rise... if all this goes through the rise will surely stop in in its tracks.
3
It would be interesting to see where the steel used in Trump's construction projects was sourced.
I wonder where all the steel imported in circumvention of prior trade actions is being transported through.
The main question for Republicans of course is 'will the tariffs hurt the NRA?'? If not then no problem.
17
That’s what I was thinking, once the price of bullets increase by even once cent, then nra will complain, and the tariffs will be gone :)
We should have tariffs, but only on those countries whose workers are paid pennies on the dollar for their labor. We should not impose tariffs on products from Canada, Europe or Japan where workers enjoy a relatively high standard of living. China and Mexico -- that's another story.
Don't place tariffs on products. That should not be the determinant. Place tariffs on countries that have cheap labor.
6
Transferring manufacturing to Mexico hurts some US workers. On the other hand, these Mexican workers will not become illegals in the US. Americans will get goods at lower prices. Some of the money earned in Mexico will buy other US goods.
Sure EU. Try to put those tariffs on the US and watch what happens. We dare you.
2
What will happen? Our workers will be hurt even more than our workers in manufacturing will already be hurt by the raise in steel prices that we pay. Your comment reminds me of a Presidential tweet. Hopefully that is a compliment?
When you say "We", are you talking in the name of the declining number of Trump supporters? Cause you sure don't talk in the name of most Americans.
And don't worry, "we" in Europe may think this is stupid, but if tariffs is what Trump wants, tariffs what he shall have.
In response to Patriot4all: Unfortunately that is exactly the kind of puerile rhetoric, devoid of any constructive thought, that our President spews. But perhaps you are sarcastic; I hope so.
Message to Trump: this is what happens when you are incapable of analyzing anything past Step One.
7
A common problem with recent past presidents has been the unwillingness to analyze past step one. This is the reason Trump was elected: to solve the plethora of problems.
So Europe is worried about cheap steel flooding their market if it's not sent to the United States....so we're supposed to just sit back and suck it up just for the Europeans
1
"So Europe is worried about cheap steel flooding their market"
Yes and no. Europe has a manufacturing industry sector which needs steel too. In fact, not so long ago, we proposed to impose anti-dumping duties to the imports of below-production-cost Chinese steel, but the proposal was vetoed by the UK whose industry liked the cheap imported steel.
If exporting to the US under the new tariffs turns out to be not as profitable, and with the UK not being able to veto the anti-dumping duties for Chinese steel this time (because Brexit), the European steel will be bought and used by the European manufacturing industry.
1
In response to Karen: No, any responsible government should allow businesses to purchase the components they need for their products. Unless, of course, you think they should control the means of production through this or other mechanisms, as in communist theory. But perhaps you are a proponent of Marx, what do I know.
But I thought that the premise was that no one would dare retaliate.
Let's all go off and shoot each other in the feet, such a lovely world.
4
EU: Please target red states, especially Wisconsin and Kentucky. And any help in swing states would be appreciated. Maybe that will counterbalance the Russian proTrump machine.
21
Target tourism in states that have Trump properties...start with Florida.
8
OJ on the list for a reason
Please, Europe, just focus the tariffs on Bourbon, (Kentucky) Mitch McConnell, and Harley-Davidson, (Wisconsin) Paul Ryan’s state.
We really need to get rid of these bums.
And if there's any negative feedback, just say it's all fake news. It works with the people who voted these politicians into office.
14
You said it!
Way to punish China by punching Europe in the gut.
9
Trump voters know exactly who and what they voted for.... oranges - Florida, cranberries - Wisconsin, beef - Kansas, corn - Indiana, Nebraska, bourbon - Kentucky, casino - Nevada, cars - Michigan...... need I say more.
10
Good grief, the hyperventilation that everyone is feining is comical. Everyone, take your clutched hands away from your chest, and slowly breath in through your nose and out your mouth. We import almost a trillion dollars worth of goods more than we export. A few billion dollars in steel and aluminum tariffs that throws a lifeline to a hard hit industry, widely acknowledged to be affected by unfair dumping practices is hardly reckless. In fact, and I find it weird to say this,... but, I agree with Trump. Oh my god, now I'm clutching my chest.
2
Even if you are right, Trump got it wrong. China is dumping steel, not the rest of the world. So far, he hasn't managed to get one thing right.
"throws a lifeline to a hard hit industry, widely acknowledged to be affected by unfair dumping practices is hardly reckless"
Then impose anti-dumping duties towards those countries, not raise tariffs towards the whole rest of the world mate!
Emperor Donald the First of the no clothes has ALWAYS been a pig-headed egotist. Even as a kid, he was "always" right, no matter what the facts might be.
Here is a link to a story published in June 2016 about that proclivity dating back to his grade school years:
https://www.washingtonpost.com/lifestyle/style/young-donald-trump-milita...
Qoute:
“He had a reputation for saying anything that came into his head,” said Donald Kass, 70, a retired agronomist who was a schoolmate. When Trump misidentified Rocca, the pro wrestler, Kass recalled, “We would laugh at him and tell him he was wrong, and he’d say he was right. The next time, he would make the same mistake, and it would be the same thing all over again.”
End Quote
The plaintive comment "why did you reporters not tell us about this BEFORE the election" is off base. We were told, if we bothered to look.
I did not vote for this bozo. Neither did the populace of Massachusetts.
18
hit em where they will feel it. dont buy any US military stuff.
9
I would expect that getting another trump branded hotel in any foreign country just became a distinct impossibility. Good job, Dono.., you just shot yourself in both feet.
6
Trump was having a bad day, so he started a trade war to get the coverage onto something else. This wasn't a thought out plan, it was about a narcissist and his ego "I'll show them..." mentality.
8
Are you tired of winning yet?
21
EU, how about stiff tariffs on weapons? oh, right, civilians in your civilized nations do not arm themselves the way americans do.
Never mind ...
But what about your armies? your navies? hmmm ... who's supplying you?
3
Yes, EU countries are currently helping the US weapons industry. That does not mean they are unable to produce whatever they need themselves, if needed. US weapons export is a big business, but nobody buys modern weapons from someone the cannot trust. Nobody wants a weapon that is controlled by the manufacturer. Especially not if the manufacturer is the enemy.
4
You know that Glock, H&K , Baretta are European companies, right? The British, French, German largely build their own aircraft, tanks, ships, etc. There's some weapons systems that the Europeans do buy from the US because it doesn't make sense to re-invent the wheel when your ally has already done the work.
2
exactly.
Right now our export of armament is big business for us.
Are EU countries able to manufacture their own? no doubt, but it would take years.
In the meantime - they fight back.
Believe it or not, we are not the be all and all any longer.
3
It might be worthwhile to search the NYT for "Smoot Hawley" and have a read.
4
Good for the EU - stand up to this cheap thug, remember Churchill. How can California join the EU and get off this crazy train?
18
California would be very welcome in Europe. But even better would be if you became a part of Switzerland . . . no kidding.
Even if ten million American workers were laid-off because of this idiotic move by Trump, he and Fox News would still claim it a success.
25
The GOP:
1) Neo-Nazis? Sure, some of them are fine people.
2) Child molesters in the Senate? Sure, count us in.
3) Wife beaters in the White House? Sure, some of them have lots of integrity.
4) President that lies ten times a day? Sure, we've all made mistakes.
5) Obstruction of justice? Sure, we've all done things that embarrass us.
6) Tariffs if foreign goods? Now hold on a minute. Not so fast. Now you've crossed a line that betrays our principles and all that we stand for.
26
We have a mentally unbalanced president. What do Americans expect?
9
Preface: I think Trump is a moron.
Please do incite a trade war. The US economy is over-heated, and this will ultimately hurt his base while cooling it back down, making the 2018 wipeout even bigger.
Now, if he can find a way to get Europe to actually spend what they need to on defense so that we can pull back some more . . .
2
I think he has found a way.
Is Richard Condon writing this screenplay from the grave?
2
The bored loose cannon of the king of chaos strikes again!
5
Why should Trump be allowed to wreak havoc on our economy and create such chaos? When are the Republicans going to reign him in. He was never properly vetted. He should never have been a candidate for the presidency. He is now doing the bidding of a foreign country or some would say, "Making Russia Great Again" because he is driving us into the ground and all our allies that might hold Putin and other authoritarian regimes accountable for killing those that oppose them. IS this really the hill Republicans want to die on in supporting the likes of Trump, our "so called" president? There is NOT one single thing he has done that has been productive for the majority of the United States. He doesn't even like America or Americans! He prefers strong authoritarian rule, where he can do as he pleases for life and leave the peasants some bread crumbs along the way. He has broken every single one of the Ten Commandments, except maybe murder, but if he does nothing about gun control with his party majority and continues to incite violence at his rallies, he could be held to account for that to, either here or in the hereafter. The Day of Reckoning is coming and justice will be served. We've encouraged, shamed, pleaded with Republicans in Congress to do their jobs and act as a check and balance to this executive. They have done little to oppose him, even though they've been told he has done nothing to secure our elections from the recurring Russian threat. This is treachery.
15
The master of "the deal" really thought the EU would not react?
Some masterful dealer!
8
In the end the consumer pays the higher prices for goods. Let's not fool ourselves!
10
The 2002-2003 trade war between the EU and the US ended in a decisive European victory, and this time around the US president is even more inept. Also unlike Bush, Trump won't back down in the face of massive US job losses, because he couldn't care less.
All the while, Putin and Xi are celebrating, and watching with glee how America is unraveling the rule-based international order, it has built FOR ITS OWN BENEFIT.
13
Great, he's ruined the US Tourism industry and now is going after US manufacturing... Where will the jobs be when he gets done?
7
He is ruining the American landscape wherever he can. Decimating National Parks, fracking wherever he wants, laying pipelines thru sacred lands, et al. I always thought that americans are proud of their natural lands and it's diversity. I guess it's a thing of the past . . . and maybe tourists are looking for other places in the world to visit.
I know Trump got into Wharton, no doubt on merit (Fake News?!) but undoubtedly learned about econ at Trump U. His latest move will undoubtedly earn him an honorary Trump U PHD and based on Europe's Red States retaliatory response will give a nice boost to Democratic aspirations in 11/18. Go EU!
4
nowadays our society has changed in many ways, some of them could be that the partisans of the Trump workers today enjoy their different tax deductions, nowadays the government has changed that does not think about the lack of intellect to at least understand the persecution
1
Normally, this shouldn't be a consideration, but in these times I wonder how Putin weighs in on Trump's trade war. I suspect he would be all for it since it is causing so much havoc in the EU.
7
So, after starting a needless trade war with the EU, Trump will start negotiating a nuclear missile agreement with North Korea? We are in for lots of trouble.
5
Trade wars leave the richest unaffected. Trump's declaration is a stunt which is sure to either not occur backfire badly, hopefully on the GOP 2018. The Commerce Sec'y dunce says a few pennies on a can of soda means nothing. What he did not say was a European tariff on American products will cost the American middle class (whatever that is) far more.
3
Would be interested to know why the USA charges a 2% tariff on imported EU automobiles while the EU charges a 10% tariff on American cars.
1
I used to live in Belgium. When I was there I saw a lot of American companies coming to the country to do business. They had the right to operate without having to pay any taxes to the country for the 5 first years. After five years, they would lay off everyone and move to a different country in Europe or elsewhere to get the same credit. No tax to pay.
3
Basically it is because you like cheap cars in the US
3
Neither the US nor the EU have specific tariff rates towards each other. They apply the same non-preferential duties towards all third countries with which they don't have a free trade agreement.
Mr. Trump states that he loves conflict. I would venture to say that it is not the conflict he loves but rather the attention he gets from instigating the conflict.
7
This is fantastic news for the European politicians.
Saddled with internal dissent and rising nationalism, what better than a trade war to remind citizens the benefits of being in the world's biggest and most powerful single market?
8
One irony is that the protectionist EU is calling out the US about protectionism. The other irony is that if Trump were acting in any good faith at all, this would be going very differently.
Some measure of protectionism would be a good thing for American workers. The EU has always been committed to protecting vital industries and/or forms of agricultural production for all of its member nations, so their objections to Trump's tariffs are, at best, mildly hypocritical. The EU started as a trading bloc, with its members trying to build export-oriented economies, and trade concessions and negotiations are in its DNA.
It must be apparent to them that Trump has no intention of actually having a trade negotiation with the EU. Instead, this has to be a "war." So they're fighting back.
The final ironies are that: one, Trump's populist instincts are kind of right. The world does depend on our economy continuing to be a net importer of goods, if not services, and for the last 40 years that has been to the detriment of the workers here who actually make stuff. And second: Trump has no intention or ability to actually solve the problem, because if he did, he would not be inviting a "trade war," he'd be trying to sculpt trade agreements with other countries, and trying to craft legislation, that might actually protect our workers. You know, the way the EU does.
2
Trump is not interested in the american workers. He just uses them as a vehicle to promote himself.
If the rest of the world wants to stop this from happening just announce that you will put large tariffs on any good with the Trump name attached to it. The tariff threats would disappear immediately.
9
and please, world, boycott any business, merchandise, edifice associated with trump. it would be terrific to see his lousy hotels empty and losing money.
good idea!
If we could only get past these 19th and 20th century conflicts.
Gosh, so many wins it is hard to keep track. Oh, wait, did he say we'd be tired of so many wins, or we would tire of his wind? We all know he has the best words, and believe him, he is very incredibly smart. He is such an idol that everyone wants to work in the White House with him, and it has been part of the plan all along for people to leave. I am convinced he does not even know what a tariff is. I'm sure he thinks a tariff is something that causes Campbell soup to increase in price by 1 cent. It will be easy to win a tariff war because everyone likes soup and won't mind paying an extra penny for chicken and rice.
Texas and indeed the country need to do better. There should be by now an overwhelming protest against the GOP and Trump. Too many people still not paying attention to the facts and pulling the lever based upon party affiliation as opposed to what is happening in Washington. I am not as excited about the results in Texas as may be others, because what the GOP has done should result in a tidal wave of anti-GOP votes. I am not seeing this, which tells me people are not paying attention. As a country we need to be intimately in tune with what is happening in Texas, and it shows us that the GOP is still a strong and viable party. The GOP will campaign on the economy and the tax cut, and that is all that will register with GOP voters. People need to wake up. 2018 either saves democracy or not. We cannot leave anything to chance
3
The easiest way to stop this trade war before it even begins is for every foreign nation to declare that no more Trump properties may be built on their shores. Since the Trump family has refused to divest itself of its foreign properties, then they should be hurt just as much, if not more so, than any other American company. The family should view it as their patriotic duty to take it on the chin just like any other American company. Believe me.
All for one. One for all.
8
I have since long expected this to become a war between Europe and the US. The two brothers that once was inseparable that suddenly realize they don't know each other at all. It is true that the huge interest, and spending, in weapons of all sorts that USA has been focused on since its birth has allowed Europe to spend less because, after all, the USA has seemed determined to have the most and for Europe it did not seem to make sense to add much to the forces of their number one ally.
But now, if the eternal ally can no longer be trusted, things must change. It starts with words. Then comes action. Actions leads to reactions. Words need to be backed up. Threats need to be backed up.
So now, when our resources should be focused on saving ourselves by saving the earth, we all turn on each other. Sad.
9
I also think weakening EU/US bonds and Nato relationships also plays into Putin's (and oddly, China's) hands. It would be interesting to know if that was conscious on Trump's part.
3
Well, the Europe/US alliance was a very very dominant force. When broken everything is on the table. The question is: How strong are one without the other? The answer will be delivered in form of new alliances. The strength of the new alliances will be testes. In one way, then the other.
We've done this before. It was not good.
2
If European Union or individual countries decide that 'retaliation' is in their best interests, then they should consider levying tariffs on American Media Content: Music; Movies and Twitter/Facebook/Google as well as Fast Food Chains. They should tax (or impose 'tariffs') in those industries: services/products on a per use basis. That might catch someone's attention in the U.S.
6
Given the fact that both the US and the EU already have tariffs on some products, I am still waiting for a cogent explanation of why these proposed tariffs on steel are such a monumental deal. It seems that you either have true free trade, with no tariffs anywhere on anything, or you don't.
True free trade is I think extremely rare, its an ongoing process to remove barriers. Why is it a big deal, for every one steel worker, there are 50 who work with steel, the cost of that raw material will increase making the products they make less competitive and/or passing on costs to customers. That could stoke inflation, slow growth, cause the Fed to increase rates more rapidly than they might want to, and hey who knows perhaps things spiral down so quickly the congress passes the 2018 version of Smoot Hawley and plunging the world into a depression. Other than that, no big deal.
7
Twenty-five percent is pretty stiff especially considering many countries fair trade the steel--not all, though. Plus Trump doesn't seem to have a plan and he hasn't really explained why the tariffs are necessary. Why don't the American steel and aluminum manufacturers use some of their windfall tax breaks to modernize older facilities and build new ones. Protectionism of a untenable industry is not good practice.
2
So if free trade is such a good idea, why is it "extremely rare"?
The EU response is clever, almost funny, but it needs a second stage. If a blanket metals tariff is approved and goes into effect the EU other US trading partners should respond boldly if they want the current congress to intervene. The ruling party in the US responds only to overwhelming strength. So, I encourage the world to get ready to stop this childish US tariff proposal by preparing to hit the US hard. Target industries that will cost jobs in those who support the guy in the white house.
6
Canada can do it alone. US steel plants will shut within a week of tariff imposition because guess what? Canada is the US steel industry's number 1 export market.
Trump, when will you ever get used to losing?
4
Bring it on Europe. The days of calling America your friend while making it impossible to sell US-made cars in Europe are over. This new tariff didn’t start a trade war. America has been in one for two decades and we are finally fighting back on behalf of our forgotten middle class.
5
Europe has a high tax on all cars, not only American ones. A Mercedes E-class cost $16000 more in Germany than in the US. What makes it hard to sell American cars in the US are not the taxes, it's the cars.
11
You are mistaken if you think Europeans have much interest in buying American cars, they can already by Ford and former GM products there as it is.
1
There are U.S. made cars--Ford, GMC, Jeeps--all over European streets. How'd they get there?
2
Far too many Western leaders, not just President Trump, have forgotten why transnational organizations such as N.A.T.O. and the European Union were created after World War II. While STEM subjects are all the rage in education, the bigger danger to our society than a lack of trained scientists is our failure to teach civics and history, as we become enablers of a generation which believes it is immune from the past and from the essentials of human nature.
Globalization and nationalism are two sides of the same coin, the human coin. We ignore how we got where we are at our own peril. Both the Left and the Right are guilty of intellectual and moral laziness, making blame the cornerstones of their politics and morality, eschewing the complexities that come from trying to understand the world as it is, instead self-indulgently wallowing in a belief that the world functions as they wish it did.
11
Interesting choice.
I have been checking and I want to point out that a lot of our juice is based on concentrates imported from places like China, Brazil, Chile... so someone's in for a surprise.
3
You just PROVED that tariffs have MANY UNINTENDED CONSEQUENCES. In this case, the original "target" is steel and aluminum imported into the US.
In general, the "target" of the responsive tariff from Europe is intended to be product X from country Y and it ends up being a related product from an entirely diffrent source.
What do you imagine the "entirely dfferent source" is going to do? Just take the punishment? Or dole out some of their own punishment to somebody else? And so a push in one direction ends up causing responding pushes all over the place, possibly having no relationship to the original "target", steel and aluminum.
6
Yes, Joe from Boston, exactly my point.
Will the EU want to alienate so many other countries while trying to retaliate against the US?
Of course, the steel industry in the UK is dominated, I think, by an Indian corporation, Tata, maybe? What companies own steel works in the rest of the EU?
Who exactly gets pinched by new tariffs?
So many factors - will this squeeze us into a corner? Do we care?
1
It is just plain dumb to put a tariff on raw materials like steel and aluminum. The extra cost of raw materials will make every business that uses those raw materials less competitive on the world market. If you need to use tariffs to punish unfair trade, you put the tariffs on the finished products of the offending country. Tariffs on finished products will not impact the competitive ability of U.S. industries. And money collected from the Tariffs can be used to subsidize the U.S. steel and aluminum.
13
Smart political targeting of tariffs by the EU. Does anyone think Kentucky bourbon would have been targeted if Mitch didn't happen to be from there. Same with Paul Ryan's Harleys. The world is moving on whether Trump wants it to or not. Either join it or tweet about the unfairness of it all. Your choice.
23
Bourbon is targeted because it is exclusively a U.S. product.
European whisky drinkers will drink more Canadian, Irish and Scotch whisky as a result.
Spain produces lots of oranges; targeting oranges is good for the EU.
1
The list has interesting Electoral College implications. Wisconsin will be hit hard on cranberries (where it is the world's top producer and leading exporter to the EU) and Harleys. Florida will certainly be hurt by a tariff on orange juice. The 39 electoral votes would have been just enough to change the 2016 results and would be a good start in flipping this for 2020. Coincidence?
38
I agree with you, but sadly it's wishful thinking . . .
Donald Trump claims to be a graduate of the Wharton School, a respected graduate business school. Either he has forgotten everything he learned there or his claim is just another of his lies. He should show us his transcript and degree.
112
Trump did not attend graduate school at Wharton. He attended undergrad. Could not secure admission directly into the program, and thus transferred there after 2 years from another college.
Many people who can’t get into a good school initially try to find creative ways to transfer themselves into the program (e.g. people who can’t get into Harvard Business School try to get into the Kennedy School of Government, then try and get a dual degree program - to declare themselves HBS grads).
Obviously, Trump isn’t going to admit he wasn’t good enough to get admitted upon application. But, like his electoral college election despite losing the popular vote, he can hang his hat on “it’s the final result that matters”
3
Trump did not graduate from Wharton B-school. He likes to pepper his conversation with ‘Wharton’, but apparently did not learn a thing about economics or trade as an undergraduate.
4
He went to the undergraduate program, not being able to quality for the graduate program. His reading disability was never recognized by his parents or teachers, handicapping his learning capabilities. He does try to insinuate he is from the graduate program but that is just smoke.
6
So Trump's blue-collar supporters, reveling in their meager tax breaks, will soon be using those tax breaks to make up for the rise in prices on any goods that use steel or aluminum. And if they work in industries that the EU is placing tariffs on, they may see their jobs disappear as the product demand decreases drastically. Trump doesn't care, he lacks the intellect to even understand all the repercussions. Which begs the question: Whose idea was it to impose these tariffs? Someone has Trump's ear, and has convinced him to do this. Follow the money. Who stands to gain by this ill-considered move?
83
KenF: You are right what the repercussions are concerned. Everybody will lose. And yes, Trumps intellect is more than questionable. With the electoral college, if that's what you call it, (Wahlmänner in german), a completely outdated system as it is, a person was elected for president who's even mediocre at playing golf.
2
Thank you for the link to the Reuters article. I assume you actually read it but based on your comments here, I got a totally different idea of your claims of inequality of tariff responses, as if it were EU vs USA. Perhaps you didn't mean to suggest that. That article states that China is the target for hot-rolled coil steel imports, going so far as to mention by name 3 targeted companies.
Also stated:
"The EU has taken over 40 anti-dumping decisions to aid European steel producers, with measures on cold-rolled flat steel and stainless steel from China. It also has an ongoing investigation into hot-rolled steel imports from Brazil, Iran, Russia, Serbia and Ukraine."
I do understand that China is the biggest abuser of dumping/transshipments of various steel types WORLDWIDE. So perhaps we should threaten to implement a broader range of tariffs against the largest offender of global trade opportunism and not offer ham-handed blanket tariffs.
Stated amounts but it seems U.S. imports approx. 4% of our steel from TAIWAN (not China,yet), 16% from Canada (a source that hardly puts us at a "national security threat" with our diminished steel production capacity, per Trump), 13% from Germany, 10% South Korea. For more data:
www.trade.gov/steel/countries/pdfs/imports-us.pdf
Also, note we are NOT running a deficit with Canada:
The U.S. has "a total trade surplus of $7.7 billion with Canada in 2016, and a surplus of $4.4 billion through the third quarter of 2017. "- NYT 3/7/18
If I didn't know better, I would say that our President is trying to sabotage our future economic growth and relationships with our trade partners and allies. I don't think he's capable intellectually of such a thing, but he's certainly helping increase China's and Russia's influence around the globe..
55
Jgrau, if trump IS a Russian stooge, (a useful idiot being compromised by Putin due to trump's own criminal and stupid actions in and regarding Russia) he is capable of intellectually understanding that if Putin threatens to expose him for various nefarious business practices (such as money laundering) or various nefarious OTHER practices (prostitutes), he will do Putin's bidding. And if this increases Russia's influence around the globe, and also sabotages our future economic growth, and relationships with our trading partners and allies...it is just too bad for us.
3
I agree with you 100 percent, but have you ever seen anything that was marked "Made in Russia"?
@ bad user name... Uhhh AK-47's, Matroeschka dolls, VX nerve gas. Polodium, BUK rockets, Annexation of the Crimea, Trump Puppets. to name a few.. :)
1
I had to look up some actual numbers. The US Steel and Aluminum industry could set some more aggressive GOALS to increase steel and aluminum production in the US. Maybe from 5% to 8% or 10% within 5-10 years!
http://money.cnn.com/2018/03/02/news/economy/steel-industry-statistics-u...
The 'Trumpish BULL in a China Shop' economic and industry development approach of tariffs is typical, cause controversy and shine the light on Trump. Trump wants wars. Only Trump wins. Even when he loses. We could try more creative and intelligent approaches and give national support to both the Metal manufacturers and the USA metal consumers. I don't understand dumping, sounds not profitable to me.
I am no economist but I think the Chinese have half, the largest share, because of the Chinese government support it gets. Maybe quality and reliability.
Amazon is being courted with major tax perks to move to a new city and bring jobs. Amazon is just a retail entity. Steel and Aluminum and many others are MANUFACTURING jobs and we want them. Right! It's lways the complaint. The Carria
This latest Trump stunt is just Trump Reality TV. Trump hasn't a clue about industry and diplomacy. The only goal is Trump headlines, Fox News gushing stories and his 2020 campaign. We really badly need leadership that sets GOALS for ALL Americans. Not just the rich elite GOP & Citizens United 1% mega rich and the celebrity politicals.
12
Working on the details, as you indicate, and deciding what and how to target due to some kind of "cheating" is helpful. But that kind of policy requires "intelligence".
1
What Trump does not understand is that all countries want to protect their industries. Free trade allows benefits for both sides. Tariffs hurt both sides. Also, what free trade does is open the door to new markets for new products. Obama set the US on a course to lead the world in green energy. Trump destroyed that and is attempting to go back to the 50's economy giving China the lead in the next generation of tech innovations. WOW! How to make America great. SO SAD!
34
People need to realize that trade is a way of extending influence and power, albeit without invading and occupying them. Thus, it’s cheaper and more sustainable. What’s missing is to have a real answer to those who got left behind, other than blaming immigrants.
14
The trade deals that Trump rails against were made in the '90s following the collapse of the Soviet Union at a time when the US was at its most powerful. So the notion that we got taken is just plain wrong. But, the worst part is that by unraveling these trade agreements now, when Trump is out of the White House and we want to renegotiate the trade treaties, we will have a weaker bargaining position than we did in the 1990s. So why would Trump do something so short-sighted? Because it panders to his base. It's the only rational explanation for these tariffs.
27
Rational? Explanation? These days?
2
We have a nearly twenty trillion dollar economy. No other country on earth comes close. I don't understand Trump.
1
Many foreign car manufacturers actually now have plants in the US.
10
America has antagonized every friend and foe, almost every country in the world. If Trump thinks, Americans can stand alone, making unilateral decisions without due process and without conventions in place for movement of goods, we are in for a rude shock. Other countries will recalibrate to do do business without us. Yes, there will be teething problems but a new balance will arise - without us! Fortunately there is time to avert a needless trade-war. I hope Ryan, McConnell, Coryn, Hatch will do their jobs - for once! Because their home states will be in the front line of fire.
17
If their re-election chances are hurt, then they will act. Otherwise it is very unlikely.
3
President Trump appears to be flexing the US muscle in a show of defiance in order to bring the global community to his feet. So sad!
3
The real victims of the Trump tariffs are gonna be the US manufacturers who use steel and aluminum (Beer brewers, construction, ball bearings, etc.) who will be forced, due to the limits of US production, to order from foreign countries at a much higher price that before.
20
"Such a move by the United States would “put thousands of European jobs in jeopardy... "
Oh no! European jobs are of course more important than American jobs. We MUST protect European jobs, the ones that have universal healthcare, 6 weeks of paid vacation and all the other goodies American workers lack. Sure!
"...steel to T-shirts, also including bed linen, chewing tobacco, cranberries, and orange juice, among other products..."
Whatever. If Europe isn't willing to trade without Americans suffering a gigantic trade deficit with them, it's their problem. We don't mind our own products being available cheaper for our own consumption. I'm sure even the economic geniuses would understand the concept of "lower demand leads to lower prices". If it means a bit less profit for our producers, so be it, let them cut back on the ridiculous CEO salaries we have seen 30 years. If our producers retaliate by cutting production and suffer the consequences of lower sales, that's fine too.
5
If you think they are going to cut back salaries on CEOs, you haven’t been paying attention.
1
Placing tariff on Bourbon. That's priceless. Good ol' boy Mitchy is going to go apoplectic if the EU follows through and retaliates against US made products like Kentucky Bourbon.
This is amazing. A Republican President stoking a trade war. This just goes to show how off-the-rails and unhinged the current GOP has become when Democrats are the party of free trade.
27
What we have here is mutually assured destruction for prosperity.
If the EU wants to engage, bring it on..a race to the bottom..
I think the European Union, (and China) will never go down this path..
Trump, on the other hand is perfectly willing to call their bluff.
1
China has been moving in with trade deals and monetary assistance for years already. We have basically abandonded Africa; China has been providing massive assistance for infrastruture in many countries there. Who cares about Africa, you may ask? Well a lot of raw materials still come from there, particularly for high tech products. There may come a point in this trade war where China uses its influence to stop the flow of these raw materials to the US, and we will have no leverage. Also, many of our high tech products are made in China (iPhones, just to name one). The US companies manufacturing there may be talking about moving some or all of it back home, but it will take a while and the trade war is on now. Also, China has been helping out some of the European countries that are having financial problems, particularly Italy and Greece. They have also been negociating to join world-wide financial organizations such as the World Bank and IMF. That's why Obama was trying to set up the TPP, to keep China involved in world trade such a way that we could have influence over them. Since President Cheetoh insists on abandoning all trade agreements and starting a trade war, we will find ourselves left out of everything and the Chinese becoming the major influence in trade. If the Chinese and the Europeans align their steel industries in a complimentary fashion, they could probably freeze us out.
8
This is exactly what Putin wanted.Everyday and in every way DJT proves himself to be Putin's puppet.NOW the GOP is slightly alarmed after everything trump has done in the last 400 plus days..THIS is what raises their ire…a tariff war??My God what have we wrought??
35
Trump just loves to start wars. However he will not get to finish any of them.
Trump will soon be called to testify in front of a Grand Jury. That should keep him busy and unable to start any more of these wars.
12
One can only hope!
1
The first thing Canada and China should do is cut off all exports of rare-earths to the USA. Secondly, Canada should shut down "for a little while" some of the pipelines that bring oil and gas to the USA from Canada. These things should wake up Donald and the Republicans.
26
Does that make sense economically to Canada? I doubt it.
Let's get some perspective. How has Europe ever helped the USA? We fled Europe because they are oppressive. They fought us. We won. They get in a big war (two actually) and we spill hundreds of thousands of Americans blood on their soil to put them in a timeout. And what do we get in return? Soccer, chocolate, wine and beer. I promise you, Europe is not up for this fight. They never have been up for a fair fight. Let them whither on the vine.
4
Pilot, why don't you get some perspective on history? Future Americans fled England to the tolerant Netherlands because they felt oppressed in England; they only left NL largely due to problems with not speaking the language, so no oppression there. The British – not Europe – fought Americans. And getting into a war (or two) is not that unusual when you have so many countries in a relatively small area like Europe does. But if the US had not entered WWII, all of what is now Europe (and more) would now be communist – not exactly a desirable outcome for the US. And Europe provides some real innovations in the fields of infrastructure, mobility, and energy production. So a lot more than just 'soccer, chocolate, wine and beer'. Who's withering now?
2
That's not really a perspective but a biased opinion. And an insult to so many people too.
2
Hey, don’t forget the cheese, the Peugeot, the Yugo, and the Fiat.
Not to worry we're going to win this war easily aren't we?
3
This policy is a misguided, capricious and unfair solution to the very real problem that the world has been taking advantage of us and our generosity. All countries that benefit from our government services, particularly our military, should be paying some sort of tax based on a percentage of their trade, something akin to a sales tax. Targeting particular products or commodities is an unrighteous picking of winners and losers. Maybe it could also be based on how much the benefit, for example, the countries that enjoy our military bases and the freedom they provide should be paying the most. This is not without precedent, witness Roman rule. Freedom!!!
Are you seriously putting the Roman Empire forward as a model for the USA? Well, I guess it's true that we have a Nero who is fiddling away as Rome burns...
But seriously, the whole "benign big brother to the world" trope is ridiculous. We have a huge military and worldwide military bases and conflicts because they serve US strategic interests, not out of some sort of national generosity.
2
Well this is what happens when you have an ignorant narcissist in charge who thinks he has all the answers but knows not of what he speaks.
As much as he might like to pretend to his Nationalist base, we don't live in a vacuum or a world where we get to set all the rules. Trade works both ways and our companies need to be able to sell products overseas, something he is putting in danger by starting a trade war. Even his GOP cronies know this is a terrible idea, but since Trump is never one to let facts or reality get in his way he will continue to make decision after decision that will harm our country and economy.
18
The US needs steel for building and cars. Europe can get along very well without Jack Daniels and Harley Davidson. Personally, I sold my Harley ( 1 year warranty, after which the oil leaks started) and bought a BMW motorcycle ( 3 year warranty, no oil leaks) years ago.
13
Oh, boy, we've got China on the run now! WIN WIN WIN!
...oh, wait, you said Europe?
12
The Europeans are not so subtly threatening to manipulate the American electorate by targeting tariffs to affect red states.
4
Subtlety is the last thing America needs - goes right over the heads of Trumpians.
2
Though bourbon is made in Kentucky, what Europeans mostly drink is Jack Daniels which is made in Tennessee, Bob Corker’s state. They seem to prefer it to Scotch, which, at least for the moment, is made in the E.U.
It’s ok. Tennessee has Marsha Blackburn and Corker has run up his white flag. .
I have to guess trade agreements between countries are contained in multi-paged, if not massive, documents.
A person attempting to alter these trade agreements should be familiar with the contents.
Need I say more?
10
Why doesn't the EU offer to lower the tariff on imported autos from 10% to 2.5%, matching the US import rate from the EU, in exchange for no tariff increase on steel and aluminum.
Let's have free and FAIR trade!
5
Perhaps because we tax European rail cars at a rate 10 times greater than they charge on US made rail cars.
You cannot cherry pick.
11
Probably the same reason that the US doesn't drop its higher tariffs on trucks down to the levels he EU charges.
8
Trade agreements take years of multinational negotiations by professionals.
Not ignorant tweets from a demagogue.
What a mess we are getting into and how hard it will be to revert. Shame on the Republican party.
75
It's downright bizarre that NO ONE is talking about why steel is so important to Trump; not the press, not Trump's pundits, not his critics... NO one. Is it not obvious to everyone that Trump—a man with no core convictions and no useful contributions to the world in his 70+ years—is only interested in steel because he's a real estate developer?
The only things this corrupt, greedy imitation of a man have ever done are lie, cheat, womanize, refuse to pay his bills, sue anyone for anything... AND construct and renovate buildings. And buildings require STEEL. Trump ALWAYS imagines he is being cheated. If he has any core belief, it's that somehow he always gets the worst deal. He makes this patently clear each time he speaks. His book (the one he didn't write and probably didn't read), should have been called "The Art of the Steel", for it is apparently the only commodity he has talked about over the last thirty years. And when this mentally unstable beast is melting down because the guard dogs of the law are bearing down on him for his many crimes, how does he lash out? By exorcising his fury over the one thing he thinks he can control... steel.
Sadly, Trump's petulance and imbalance, combined with the immense power granted to him by a few thousand dopes in three heavily gerrymandered districts, may well be the undoing of two-hundred-forty-plus years of American democracy.
Way to go, Trump supporters; you are sinking yourselves, and the rest of us in the process.
44
China is the culprit, but since China kept North Korea viable, Trump is not in a position to ask anything of China, so he is going to trade war against America's friends.
9
China? Not at all. Look at the official import statistics by US Departement of Commerce:
https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
Page 3: Total steel import 2017:
10 Top sources:
Canada 16 %
Brazil 13 %
South Korea 10 %
Mexico 9 %
Russia 9 %
Turkey 7 %
Japan 5 %
Taiwan 4 %
Germany 3 %
India 2 %
All the rest 22 %
And whats the reason for this? Departement of Commerce explains on page 6:
"U.S. crude steel production decreased 11 percent between 2014 and 2016, from 88.2 million metric tons in 2014 to 78.6 million metric tons in 2016. Production in YTD 2017 has increased 3 percent to 61.5 million metric tons from 59.6 million metric tons in YTD 2016. Since 2009, apparent consumption (a measure of steel demand) has increasingly outpaced production."
It is plain to see: Not enough production capacity in USA any more. No one cared. There was enough capacity available abroad.
It´s obviously not "unfair bad guys are driving poor American down by their evil dumping ways". It´s not about dumping. It´s about dumbing down.
1
Gee, a trade war between NATO countries, I wonder if Mr. Putin will lose any sleep over this
31
Europe Imposed sanctions against the glut of Chinese steel.
Ow Trump wants to impose sanctions against European steel?
Europe isn’t dumping steel. The only person a European trade war makes happy is Putin.
21
It's all working out beautifully for Putin, he can just sit back and watch his master puppet Trump destroy the US and World economies with trade wars. He might even create a recession and/or depression while he is at it.
25
Man, I hope this puts my govt of Brexity clowns off that big US trade deal unicorn that they’re trying (and failing) to convince us about as the solution to post-EU life. Nothing alarms me more than a big insurance consortium on the far side of the Atlantic buying up our healthcare, or our farmers being buried alive in an avalanche of swimming-pool flavoured chicken.
12
Well, look at it this way - until this latest bonehead move by Trump, we thought Brexiters were the crazy ones.
2
The only good news about the trade war is that it is not a nuclear war.
12
I suppose Trump will manage to prevent tariffs from being imposed on his two household staples--champange and caviar.
4
His household staples are McDonald's and KFC.
3
Germany, Canada, if you’re listening, if you can find those industries in Red states and apply some “incentives” that might help the American people rid ourselves of our presidential scourge, you will be mightily rewarded.
25
"But most economists do not worry about trade deficits, and disagree with the president’s characterization of them. Read more here »"
Yeah right. Where were most economists in 2008? Other than a couple, "most economists" were in the pocket of WS through their consulting gigs and didn't see a problem with over 40% margin at financial institutions.
Every attempt I made to post a chart showing what all these so-called Free Trade policies had done to America's wealth gap, NYT censored the post. I suppose it's not convenient to link the outrageous wealth gap that started emerging in the 80s
to our 'free trade' policies. Some of those trade deals that we cut even angered FBI in 1984 when they realized our trade secrets were stolen from the ITC in the middle of a trade negotiation, and since we signed that trade agreement we have been running a chronic trade deficit with them. Elected officials from both parties are so eager to reward their donors the country can go bankrupt and they couldn't care less.
And the so-called "foreign investment in US", we will do just fine without the $80 million condo purchases that benefits the builders and not Americans. The buildings would be built either way and we would love lower condo prices.
Why does the media insist on talking to only globalists or those on their payroll?
6
By foreign investment, most people mean the factories etc that foreign companies have built in the US employing thousands of US citizens.
The US actually runs a surplus with the UK, a member of the EU but of course that's likely to change if you put tariffs on steel making your car manufacture more expensive and difficult to sell over here.
6
A modest proposal... How about a 100% tariff on ANY Trump-branded brand or product, accompanied by a 100% world-wide boycott of such, along with their reprehensible front-men and woman?
24
Modest indeed, Vox. Trump-branded products tend to go broke of their own accord -- unless they happen to be emoluments kept above water by foreign embassies and GOP subsidies.
7
Let every bourbon maker in Sen. Addison (Mitch) McConnell's home state, and every Harley-Davidson worker in Paul Ryan's home state, fear for his or her job--all because of the cowardly passivity of their senator or representative.
28
This is the great negotiator? This is the great deal maker? He announces on twitter, like some 3rd grade bully, that he is imposing new tariffs on steel & aluminum. He did this without discussing it with any trade partner and/or ally. I was under the impression that you would need to include the other parties involved to make a deal or negotiate. He is not the brightest bulb on the tree is he?
14
And this coming from a man who used Chinese steel in his buildings.
23
The EU doesn't have to set any formal tariffs to fight against Trump's tariffs. EU citizens have gotten very good at simply boycotting goods they don't want to buy. So, I suggest anyone wanting to fight the tariffs simply publish a list of US goods to boycott and the EU public will take care of it.
13
Far too many Western leaders, not just President Trump, have forgotten why transnational organizations such as N.A.T.O. and the European Union were created after World War II. While STEM subjects are all the rage in education, the bigger danger to our society than a lack of trained scientists is our failure to teach civics and history, as we become enablers of a generation which believes it is immune from the past and from the essentials of human nature.
Globalization and nationalism are two sides of the same coin, the human coin. We ignore how we got where we are at our own peril. Both the Left and the Right are guilty of intellectual and moral laziness, making blame the cornerstones of their politics and morality, eschewing the complexities that come from trying to understand the world as it is, instead self-indulgently wallowing in a belief that the world functions as they wish it did.
9
I voted up but your moral equivalence between the left and right is simply wrong. The "right" is solely to blame for its ignorance an stupidity.
But I get where you're coming from because stupidity doesn't like being called stupidity.
I recently listened to an interview on NPR about how chinese steel is routed through Malaysia and other countries wherein a small manufacturing adjustment to the product is performed. This allows the steel to be shipped to the USA without having to pay the high tariff. In other words, Trump's recently announced tariff proposals wouldn't hurt the Chinese at all. A cursory check on the 'net indicates that this is "sort of" true. Did I misunderstand? I appreciate any clarification offered.
3
I would not deny that tariffs have their place in some instances; mainly in conditions where one country has far less regulations, inferior labor laws, or a currency manipulation that makes products produced their cheap (US vs. Vietnam/ India/ China). Of course, this is not the case with the EU or Canada.
That being said, Trump does not have the competent knowledge or managing skills to effectively implement anything like this. Trump has proven through out the past year he does not even have the emotional maturity let alone expertise to govern our country. For this reason alone, outside of his proposal’s obvious flaws, I can’t support his tariff plan.
9
There are stupid tariffs and very stupid tariffs. A very stupid tariff is a tariff on steel and aluminum that increases the costs of every product made in the USA that uses those metals. This increases consumer prices and makes products produced in the USA less competitive relative to those made outside the USA using steel and aluminum priced at the world market rather than the artificially propped-up protected US steel market.
A less stupid tariff is the retaliatory tariff that will be put on US motorcycles (Harley Davidson) that will not raise any costs on any EU producers, or raise prices for anyone in the EU, except for buyers of motorcycles.
. Protectionism is the progressivism of fools. Gandhi was a great statesman but a horrible economist. Just as the ignorant in the USA argue that American workers who earn $15 per hour should not have to compete with Chinese workers who make $2 per hour, Gandhi thought that Indian workers should not have to compete with American and European workers who have the benefit of modern machines. As a result India adopted protectionism. In 1947 the per capita income of India was similar to countries such a South Korea. By 1977 the per capita income and standard of living in South Korea was many times that of India. India has since largely abandoned protectionism and has benefited immensely from free trade. Just as David Ricardo proved would be the case when he developed comparative advantage..."
https://seekingalpha.com/article/4148256
6
This man Trump is an unmitigated disaster for my country and I'm sure that this will be his first and only term.
Moreover, it is one thing for this cretin to gain the job but for the Republican Party to abandon any semblance of ethical behavior is, to me, an unpardonable sin. The GOP's cynicism is palpable.
12
Who won the 2016 election?
The BAD GUYS!
3
Correction, the election was one by a group that was able to use our Constitution to harness the anger of a group that felt (rightly) that it was being ignored. Identity politics is a very dangerous game to play when the assumption is that the largest group will not engage in its own identity politics. Then, when the party in power puts up a candidate without a clear message as to why she should be president who decides to run on a platform of respect for women when she was the enabler in chief for attacks on Monica Lewinsky, Gennifer Flowers and others and took hundreds of thousands from Goldman Sachs for speeches for which she refused to release transcripts, we had a case where the able in politics beat the its my turn group.
1
I'm pretty sure the people who were ignored in the election were the majority of Americans who voted for her.
3
I'd take 'her' over this train-wreck into recessionary hell any day, any year, any decade! "Took hundreds of thousands from Goldman Sachs for speeches"????
You've got to be kidding, irrelevant chump change compared to bottoming out our economy, removing us from the world-respected position as #1, destroying our fragile environment AND being sued by a porno film star for an affair pay-off!!
Have fun going down with our country as its dragged into the swamp with Liar in Chief.
Steel production, like all large manufacturing sectors producing goods, have gotten a lot more efficient with production, with less workers, for over two plus centuries. Same with agriculture. It is not global competition related as much as much fewer jobs needed to support efficient production; e.g., automation, machinery, advances in processes. Stupid tariffs in response are a ruse to cause unnecessary trade war, false nationalism - globalism is not going anywhere; further proof that DJT is a stooge for Putie.
7
Trust me, Trump will redevelop bone spurs once the trade war casualties start piling up.
7
Here's a fresh look at what a trade deficit is: A country that has a large and growing trade deficit, like the USA, is a country that is importing more goods than it's exporting (in terms of value in $$$). In simple terms, the fact that the USA can continue doing so means that all the other countries are giving the USA more than the USA is giving them. This has to do with the fact that American consumers want to buy cheap products (clothing, TVs, food, anything and everything) and prefer having these low prices over knowing that workers all over the world are getting paid a decent wage or have decent working and living conditions.
If the US continues to impose tariffs and sever international trade agreements, two things will happen:
1. The dollar will eventually loose its crown as the world's currency, which will cut the financial branch the US consumers, companies and government are sitting on. Consumer prices will go up and access to resources overseas will go down.
2. The rest of the world's economies, especially the larger ones, will strengthen, form stronger trade bonds and leave the US trailing behind. Much of the leverage the US has now will be gone for good.
Trump sees the world in very simple terms. The Chinese, Russians, and Europeans are looking forward and planning for the long term. Trump's policies will do HUGE damage that we cannot even measure right now. The Republican's are allowing this to happen. Putin is being treated to a collapsing US superpower.
15
appropriate arguments.but I see that the average american take this policy as a national pride, ignoring that we are all in the same boat, expecially Us and EU.
4
For DJT it’s all about votes - he has no policy.
3
There is a special Congressional election in Western Pennsylvania District 18 next Tuesday, and the Democrat, Conor Lamb is poised to take the win in a district Trump carried by 20 points.
This area is heavy with metal manufacturing industry, for those who are unaware.
After the special election is over, Trump will back off on his threats. This is why he gave two weeks to implement the tariffs.
Pretty simple stuff, actually.
7
Simple stuff? More like a simpleton Prez.
What's he going to do before Nov. 2018....create a list of all of the seats the GOP's slated to lose and then impose tariffs on whatever those states manufacture? This guy thinks he's negotiating for a building lot when, in fact, he's negotiating to ruin the ability of the USA to do business for the long term.
3
I appreciate the comments which clarify matters the reporter was not afforded the space to clarify. I am slowly understanding the matter.
5
For me, there is only one real reason why Trump would be raising tariffs on foreign steel: Pennsylvania's 18th District Special Election. The election takes place in Pennsylvania which is Steel Country. How convenient that these this announcement comes one week before a very close and heated Special Election for a House Seat in a District that Trump won by 20 percentage points in 2016 and that the previous Republican candidate won for the last 15 years. Trump is desperately playing to whatever base he has left. And after the Moore debacle and various other special election losses, he is showing just how desperate he is to maintain this seat. For him, this is clear panic mode.
25
I agree with your assessment, but fear that his ‘plan’ may well succeed. After the fact, when the ‘con’ becomes obvious to all, we will again see the intransigence of Trump voters to admit what a disaster this man is.
1
I think you give Trump far too much credit.
1
This whole situation is just a result of oversimplification of global trade. Trade ended a lot of manufacturing jobs in The USA and 25 years of no policies to fix those losses has lead to this. But withdrawing from the world will not fix this. The world will just pass us by. It appears that the Trump administration expects the world to “bend the knee” and pay the tax or Trump will start ignoring the WTO and effectively bringing modern global trade to an end in the USA. This is not easily fixed by the next administration either.
True Trump supporters seem to think the world owes them a good job where they live and it’s the world’s fault that they don’t have one. Even if this does go into effect t won’t change anything quickly except the price that consumers pay for goods. Steel mills don’t get built over night. And they probably won’t be built in the Midwest because steel companies don’t want to pay for Unionized labor.
Further no company is doing much of anything until after the midterms now.
This is another figurative grenade thrown into the room by Trump so he can complain that it blew up something.
9
I'm not in favor of trade wars -- or Trump -- but it's interesting that the article states that the EU is looking into ways to prevent the same cheap steel Trump has imposed tariffs on from entering their markets. So what methods will they be using, if they're not using tariffs? And could the same methods be used here? Or are they using tariffs also?
7
they mention steel diverted from the US. They are not raising tariffs on it, and do not have them. What they are referring to is that once US begins tarrifs, likely orders will drop and create a surplus of steel. Often producers will look to 'dump' this steel on other markets for below normal market price to get rid of it quickly. So, they're just looking to make sure extra steel which is not bought in the US is not dumped in EU below the current price which can hurt industries.
3
Canada is the largest supplier of steel and aluminum for the United States. We are also the largest buyer of US steel. The North American market is fully integrated. Bauxite is a major component of aluminum. This is a commodity not readily available in the US and would still need to be imported from Canada. It is a cost prohibitive process. China is not even in the top ten countries for supplying US steel. The United States does not produce enough to meet domestic demand. All Trump has done is annoy long term allies and friends.
43
The EU does have tariffs on steel. See http://www.energylivenews.com/2017/01/31/eu-imposes-china-taiwan-with-st...
Let's take the automobile industry as an example. Cars made in Europe are taking advantage of the same steel the US has been buying on the cheap. With tariff's in place the price of steel will go up in the US, but stay the same in Europe. Do you really think people are going to buy a more expensive American made car? They will be encouraged to buy a better foreign made car now that the prices are comparable.
31
Europeans buy European made cars because they are better built and higher quality. They want fuel efficient cars built for their medieval cities. German, Korean, and Japaneses car manufacturers have auto plants in the United States which provide thousands of Americans with well paying jobs. I suppose if Trump keeps this nonsense up there will have to be a coordinated global response. Red states need to be hit hard and without mercy. Farmers in red states will howl when the door to export markets are slammed shut. Enough is enough.
5
Putin is laughing even harder now. How to sow confusion in western democracies. Get a useful idiot elected to the White House and watch him flail around creating chaos in global trade to satisfy his ignorant base. As the president of the European Commission pointed out: "We can do stupid too."
41
And Putin is loving the fact that Trump called out the EU for "not treating us very well" . This is exactly what Putin paid for. Trump is pulling away from the allies that we have traditionally had since WWII, to keep Russia at bay, to advantage Russia. Since this policy is tailor made for Putin, I wonder if Mueller is looking at it as part of the Quid Pro Quo along with not instituting the Sanctions.
4
There is a serious factual error in this article. The Weasel of Wisconsin, Paul Ryan, did not rail against tariffs. He sent his spokesperson out to do the job, as any smart coward would.
29
Trump is so stubborn and unlikely to listen to anyone that he would cut off his own head if Fox News told him it would Make America Great Again.
5
If Trump and his Russian-Republicans continue committing treason, his real head may roll. Treason is a capital offense.
2
GOP: He's your monster. You may not have created him, but you gave him a home, fed him, and then put him in charge of everything. Good luck with your stock portfolios and corporate profits.
47
Our approach of coronating Hilary instead of accepting what the voters wanted worked out so much better.
1
Europe: Slam red state products with10-25% tarriffs and you’ll help rid us all of the Trump cancer!
27
If I dig not think it would trigger a nuclear war out of sheer petulance, I would encourage the rest of the world and all like- minded Americans to boycott all things made by anyone or anything in which a Trump has a financial interest, and of course any product or service bearing the name Trump. He’s a bully who only understands when he gets his own treatment, ten-fold. It seems pst time for that, and it will take ordinary people to do it, since those our rigged system puts in office are tools of the plutocrats club of which Trump is a dubious member.
The tariff issue is this week’s bit of chaos. We all know the idiot-in-chief craves constant attention. We can’t stop that for several more years, but by taking Congress away from the GOP, we can limit some of the damage. It’s up to us, everyone. If we do not remove a known cancer, we have no right to complain when it kills us.
9
Xavier.true.I have started to look for Canadian made products when I shop as before I never cared.Also tourism to the States will be negatively affected.
15
Let's take the automobile industry as an example. Cars made in Europe are taking advantage of the same steel the US has been buying on the cheap. With tariff's in place the price of steel will go up in the US, but stay the same in Europe. Do you really think people are going to buy a more expensive American made car? They will be encouraged to buy a better foreign made car now that the prices are comparable.
2
Tourism to US is already down. People coming to Us for any number of reasons including work and education. This won't help. We need workers in certain fields like agriculture, domestic, tech and seasonal. We need foreign students because they are often smarter than American kids and usually pay full tuition. Our institutions of higher learning need them. US is slowly becoming an undesirable destination.
11
I was considering a trip to the US this year, I won't be going. Many people do not feel safe in the US or inclined to visit as it seems foreigners are not welcome, even as tourists
2
Trump will do anything to get attention away from the Russia investigation. For now, he's succeeded. Message to Mr. Mueller: "Please be as fast (but also as detailed and comprehensive and accurate) as possible."
37
Agree, he needs to cover a lot of stuff, but the most stupid thing a man can do is go against his friend, if Trump goes on like this America wil be isolated from the rest of the wordl , as you know US is not proper a beloved country around the wordl, West europe is the only reliable friend Us have, open a conflict with w europe will demage Us very much not in term of trade but in term of security. China Russia middle est, even a big part of Canada , pratically all the wordl that counts, are really laughing at this idiot. to pay back his friends Trump is putting in danger his country.
1
Now that NK (cleverly I'd add) chose to not play hardball, all that's left is good 'ol China and Trade War!
1
The following is from a letter published in the financial times :
"President Donald Trump's protectionist tariff increases, aluminum 10%, steel 25%, are causing many in the US to call for a level playing field. As with many issues these days, repetition seems to make for truth where the media say something often enough over a period of time so most of us think it must be true. Such is the case for the so called level playing field"
"The reality is quite different.Contrary to what most think we in the US enjoy an enormous competitive advantage. We enjoy the US dollar (at least so far) as the world's reserve currency. We can trade German BMW's or Saudi oil for paper promises, printed dollars, derivatives and the like. Furthermore, decades ago Henry Kissinger negotiated that all Saudi oil must be paid in US dollars, thus creating an enormous worldwide demand for US dollars"
"It's a great scheme backed by the Federal Reserve, big banks, CIA, and the military. But the more serious concern should be just how much longer the rest of the world will continue to play the game before demanding its own level playing field. And if or when that happens what will be the implications for the US? China's long term financial moves and Russia's energy position and recent sabre rattling, one might conclude not much longer"
42
In 2017 the nominal world GDP was 127 trillion USD.
China's GDP was first with 23.1 trillion USD, the EU GDP was second with 19.9 trillion USD and the American GDP was third with 19.4 trillion USD. With 19.1 percent of humanity China has 18.1 percent of GDP, the EU with 6.8 percent of humans has 15.6 percent of GDP and America with 4.3 percent of humans has 15.2 percent of GDP.
While China ranks first on a national basis on per capita comparison China is ranked 79th right behind Iraq and the Dominican Republic. The EU is an American ally. China is not.
'Text without context is pretext' Reverend Jesse L. Jackson, Sr.
10
As soon as President Trump takes care of the first serious challenge, the other countries will fall in line. Our President may be selfish but now he uses it for the good of our whole country.
1
I'm sure that's what Smoot and Hawley thought when their bill passed the Congress. Within 2 years, most of the Republicans who voted for their bill were no longer in Congress, and we were in the midst of the Great Depression.
10
Please explain how a steel and aluminum tariff will benefit the U.S. It is going to hurt the U.S. companies who use steel in their products (like the auto industry).
4
What you probably mean by fall in line is they'd quit (stop being nice to us--the US) so they can no longer be part of the problem like the 50% of senior WH staff??
3
The incredible exitofmanufacturing from the US started after the Leanord Woodcock's trade agreement with China. Supposedly there were built in protections to assure that the environment and labor would not suffer. What a charade. Never be so naive not to believe that much of this exodus was for reasons dealing with our labor unions and environmental regulations. The promise of a vast Chinese market was a ploy in many cases, Port Workers here have been the big beneficiaries unloading container ships from China.
2
Bizarrely, this global hoopla in response to Mr. Trump's reckless Tariffs essentially has nothing to do with trade at all. Instead, It has to do with Mr. Trump's psychological baggage. Namely, his victim mentality. His persecution complex. A perception that he's always treated unfairly. So, in my view, he's simply projecting that same perception onto our trade partners. They, are treating the USA unfairly. Thus, he's doing what he does best. He's fighting back.
However, due to the fog of his personal war which is the framework within which he sees trade, he's prevented from seeing a bigger more complex interconnected picture of how trade works including unintended consequences that will affect us, our allies, and the global economy.
In other words, there's no room in the mind of this self-absorbed victim except for retaliation. And it's all unconsciously done. He reacts. He doesn't think. And that's precisely what makes this man with so much power (surrounded by fear-based enablers who refuse to restrain him) so extraordinarily dangerous
77
Actually, if the EU could convince it's citizens to stop eating McDonald, drinking Coca-Cola product and stop watching American films that would do a lot more damage the revenge tarifs.
22
But everyone wants to watch "Black Panther"!
Unfortunately, we have a president who doesn't understand the EU, so this would be one way to make him understand.
1
It may be more effective, and certainly more fair, to stop buying anything associated with the name Trump, from handbags to hotel rooms.
2
Just remember this, when all these companies moved production out of the U.S. it wasn’t because a foreign army came and pointed a gun at their head. They made the choice to move.
14
They moved so they could access cheap labor. If they come back do you think they will invest in American labor? It will be only to take advantage of tax breaks that will permit them to automate and invest in robotics.
12
And this tariff will help keep those companies overseas - cheaper steel overseas once the tariff is on effect.
3
Yes, Canada usually plays Mr Nice Guy. That reputation does not extend to demonstrated thugs, however.
The US has a trade surplus with Canada, so only Canada can "win" in a tariff fight. Canada is the biggest export market for 38 US states. That's a lot of Senators (hint : there are 50 states, so 38 is a majority.) And by happenstance, Canada is also the biggest foreign market for US steel exports.
Kicking your allies in the teeth does very little for national security, so......expect steel mills across the US to suddenly shut down operations within 1 week of the application of US import tariffs.
Kicking your allies in the teeth does very little for national security, so... count on gasoline rationing within a month because even more than Supertankers, distribution systems don't turn on a dime, and where do you think US refineries get their oil imports?
That should catch everyone's attention, even DJT. But I wish you best of luck with the attitude.
19
Many Canadians, like me, have stopped travel to the USA and stopped buying US products, as much as possible.
Realizing that there are many good folk in the USA; and dislike hurting them; but protesting behavior of the "Enfant Terrible" POTUS and his cronies.
4
the jobs they have in the EU once belonged to americans that lost them decades ago ..we are just repatriating these jobs..i suggest a tour of the rust belt for ms malmstrom
3
Not really. It was all about access to markets and tax breaks and had nothing to do with cheap European labor, which is not cheap.
12
Labor is neither cheap in Europe or Canada as both have standards of living and worker/environmental standards equal to or greater than ours.
11
There are plenty of jobs in the U.S. As long as you are willing to move where the jobs are, and can pass a drug test. Undocumented immigrants do this all the time. Americans appear to be having problems!
3
Not only do we not manufacture all that much (how much of our economy is "fluff" advertising, graphics, motivational instutions, distributing imports, etc.?) we don't manufacture really high quality "stuff". The tarrif in washing machines was a bad joke. Who anywhere else in the world would think of buying a crummy agitator machine that slurps too much water and destroys fine fabrics? Who anywhere else in the world wants to look at US automobiles that are built too large for the street in front of a person's home? Our exports are agricultural products - grain, commodities - things that other nations also produce.
In addition to the talk of trade wars, it has already started that people in other lands no longer have motivation to buy American made goods - based on the behavior of the Trump administration. We used to be considered a good trading partner, interesting travel destination, innovative producer of "stuff" like pet rocks and hula hoops - but no more. Go outside the borders and you'll be treated at least with much more reserve than a few years ago. The rest of the world now seems to want to put/keep us "in our place" and continue on without us. To win that back will take years after Trump is no longer there.
39
Sara, this is an excellent comment with many points that no one seems to be raising, including - and perhaps especially - NYT editors.
@sK - Long Island
Your definition of aggression also is convoluted. You state that the EU is "...forcing the U.S. to continue buying from the EU." I do not see this process taking place and so let us be specific. Please tell me how the EU is forcing me to buy a BMW instead of Cadillac and tell me how the EU forced me to but a Miele vacuum cleaner instead of a Hoover. I was not aware of any such force in play when I bought the former..
13
Easy, billions of dollars in subsidies for Airbus, for example. You can read Boeing books. The defense spending is not subsidizing Boeing aircraft. The same is not true of Airbus. There's just one example of the thousands.
2
The notion that Boeing doesn't enjoy government subsidy is laughable. American industry is rife with protectionism and subsidy, just like the other developed markets. That's why we rely on good trade practices, treaties, and independent observers, to try and keep the playing field level. Tariffs will just produce an endless cycle of grievance and vengeance.
Anyway, here's what 10 seconds with Google told me about Boeing: https://subsidytracker.goodjobsfirst.org/parent/boeing
3
Name another example of your thousands. Obviously you have not seen or read USA defense contracts. Subsidies are called cost overruns. Bid low and have Uncle Sam pay the non bid costs.
4
Far too many Western leaders, not just President Trump, have forgotten why transnational organizations such as N.A.T.O. and the European Union were created after World War II. While STEM subjects are all the rage in education, the bigger danger to our society than a lack of trained scientists is our failure to teach civics and history, as we become enablers of a generation which believes it is immune from the past and from the essentials of human nature.
Globalization and nationalism are two sides of the same coin, the human coin. We ignore how we got where we are at our own peril. Both the Left and the Right are guilty of intellectual and moral laziness, making blame the cornerstones of their politics and morality, eschewing the complexities that come from trying to understand the world as it is, instead self-indulgently wallowing in a belief that the world functions as they wish it did.
16
One more purposeful step at weakening NATO and the cohesion among its member states. One more gallon of gasoline to ignite nationalist fervor everywhere and disunite. Meanwhile, Putin smiles at this actions of his dutiful pupil.
Trump has done nothing to stop the cyberattacks. There is your collusion, in plain sight. Includes much of the GOP in Congress. For all the talk on wingnut radio and cable news, it's the GOP that is becoming a real and credible threat to the nation.
181
"One more purposeful step at weakening NATO and the cohesion among its member states."
No. The EU is an economic union. NATO is a military alliance. Further, the US is not an EU member, while the US is a NATO member.
1
A trade war would definitely put strains on the military alliance, how else could it be? Besides, Trump is openly supporting political parties that are anti-EU, cheered the British exit and support Russia, which isn't in Europe interests. The European Commission deemed Trump an enemy of European integrity for good reasons.
6
Your point? All of Trump's actions, including the threat of tariffs threaten the stability of Europe and strengthen Putin and Russia. The US needs its allies to be strong an stable.
5
If trade is good - barriers to trade like tariffs are bad. Trade war won't fix the overregulation, unreasonable laws that cause manufacturing and trade jobs to move to countries like China.
Clothes you wear, furniture you seat at, screen you are looking at - where is all this made? By nature government is inefficient, slow-reacting and inflexible. It should interfere with free economy as little as possible.
Change domestic laws that force jobs to move overseas instead of penalizing foreign countries, who rightly take advantage of our errors and weaknesses.
4
The US has not lost manufacturing jobs because of over regulation and "unreasonable laws". What domestic laws are you referring to? Manufacturers have not moved over seas because of domestic laws. Its simple economics. The US has lost manufacturing jobs because other countries manufacture goods more cheaply than we do in the US, and because technology has reduced the need for workers in the US. Labor is cheaper over seas. These trends will continue unabated for years to come.
6
One of the those 'overregulation' is a living wage (union or not). Would you like to work and live in the US on a Chinese salary--about 10% of what we normally pay here for the same job??
Weren't tariffs the chief source of the Federal government's money before income tax was started?
Archie Bunker would have applied keener insights to governing than Donald Trump has shown.
49
Name me one good thing that comes from EU ... oh, I forgot, French Fries ... lol. EU will be biggest loser in all this.
1
Steel, cars, airplanes, food, furniture, rail cars, electronics, etc. It is a long list.
Also, you seem to not realize that the EU will place tariffs on US goods, and we exports billions of dollars of good to the EU. The tariffs will reduce the demand for our goods, which will hurt our economy. The US is going to be in for a very rude awakening.
94
It's not what they send us, it's what we send them. Cadet Bone Spurs must have cut class when they discussed tariffs in macroeconomics 310.
8
The EU is a force for liberalism, democracy and cooperation in a troubled and increasingly aggressive world. That's more than the contribution of Donald Trump and more than enough for me.
13
Make The Disastrous 1930 Smoot–Hawley Tariff Act and Another Depression Great Again: TRUMP 2018
What a Moron-In-Chief !
150
The EU is going to have to do better than these weak measures. They need to hit the US with tariffs that will actually hurt. Trump and the Republicans are little more than amoral, adolescent bullies and brute force is the only thing that will sway them.
31
"They [the EU] need to hit the US with tariffs that will actually hurt."
What do you suggest?
3
Where it will hurt is tariffs on American food products. Hit the bread belt of
America, the Trump voters.
1
When the extra few pennies average Americans got from a temporary reduction in taxes expires, any trade imbalance will likely also expire. It is surely not a mystery that a wealthy people will have a trade imbalance with a poorer people; people love their imports. But that's not to say that America is losing money. It is still gaining in exports. A gain that can quickly turn to a major loss during a trade war. And if Trump does not think that American companies are in any way already subsidized, he's, well, as we already know, a priceless idiot. American taxes are always paying for businesses to move into their vicinity, and then paying to build and maintain the infrastructure. Famers have for years been paid not to grow crops. Many American businesses are subsidized heavily by the poor wages they pay, while investors reap millions. Obamacare is then the system of healthcare that subsidizes people working for those businesses that cannot, or will not, provide healthcare for their workers. America is riddled with business subsidies. A trade war will only make it all worse. Meaning that even more of your taxes will be needed to uphold those businesses that lose their exports.
29
Probably the best comment I've read regarding the complexity of protectionism and tariffs. Too bad it would fly right over Trump's head.
If this was the 1980’s I’d have 5 guys working for me. I have a couple computers and some machines and zero employees because it’s 2018. Makes me wonder what century this moronic president is living in.
40
"... 5 guys working for me ..."
"... a couple computers and some machines and zero employees ..."
That's meaningless unless you report some financials.
2
If Trump imposing tariffs is just lose-lose for everyone, and reflects an ignorant, bellicose, and ultimately self-defeating approach to trade, then:
WHY aren't the EU's tariffs equally ill-informed and stupid?
Don't tell me that Trump is shooting himself in the foot, and the EU feels the need to retaliate by shooting itself in the foot too. It's not a logical explanation.
2
Perhaps that's why the proposed EU tariffs are much smaller and more specifically targeted. Global steel vs Kentucky bourbon are not quite equivalent.
13
@Alex, so maybe the analogy needs to be fine-tuned. Maybe the EU is only shooting itself in the toe.
What's so smart about the EU making a consumer product like Kentucky bourbon (isn't all bourbon from KY by definition?) more expensive for EU consumers?
When your country is attacked you defend it. Sure some people will die, and that's not great, but should you just let another country walk all over you?
It is unfortunate the EU thinks in terms of tariffs on US imports........they would simply provide Donald Trump with examples to fire up his base about how ünfair¨Europeans are. Instead Europe, and countries elsewhere, should be crafting taxes and fees on management agreements, branding and licensing, and other other activities contributing to the profits of the Trump Organization. Except as a talking point President Trump does not care how many bourbon producers in Kentucky are hurt by European tariffs; that is Mitch McConnell´s headache. The full significance of a trade war will hit home when Trump Organization profits dive and no-one wants the added cost of an agreement with Trump. Make the Trump brand lethal and tariffs will disappear, base be damned!
14
Trump's petulance and aggression toward other countries seems to be an extension of himself. Everybody refuses to see DJT for what he thinks he is: the stable genius and dealmaker. It's so unfaaaair!
17
What do you call a President who embarrasses himself and America by flying around the world and asking for forgiveness? I call him a LOSER and non-American!
5
Our country has done some terrible things, at least you should acknowledge reality. Remember Iraq?
1
Trump will be asking for forgiveness once Mueller gets done with him.
I wonder, have things reached the point that the world would be better off with a little less trade? There would be fewer goods, goods would be more expensive, there would be less efficiency, but might there be a happier, more fulfilling life for the average person, a more minimalist but better existence?
Why shouldn't the US make its own shoes and clothing?
6
Americans like cheap stuff, but U.S.-made goods are much more expensive due to our wage structure and labor laws. Nobody's making $2 per day here to make clothes.
2
Because Americans love to buy stuff, and the cheaper the better.
Cheap goods, including cheap food, and cable TV are the things that keep the American populace happy.
1
No, we have not reached that point at all, if you care for your fellow human being, openeing trade up ids the best way to pull them from poverty - once we have PPP everywhere, then thats fine, but it wont matter. for not, global trade is what keeps the salaries rising, and the economies turning.
Europe depends on the US, we can apply MUCH more, and longer lasting, pain on them than they can on us.
The EU is coming apart in any case.
4
This is just what the doctor ordered to help them stick it out...and you are wrong about inflicting longer lasting pain, its actually quite the opposite, Europe is much more capable of finding new markets than america, since it is itself the largest integrated market by purchasing power.
45
Oh the EU is falling apart?
How about the USA are imploding?
2
The EU and the US have had periodic trade wars for decades. Google "chlorinated chickens". And always settled , sooner more than later
It's now spreading from agricultural products to manufactured good for reason that Peter Drucker predicted in 2001
"The decline of farming as a producer of wealth and of livelihoods has allowed farm protectionism to spread to a degree that would have been unthinkable before the second world war. In the same way, the decline of manufacturing will trigger an explosion of manufacturing protectionism—even as lip service continues to be paid to free trade. "
I.e . Nothing new here. All posturing ....
For more from Peter Drucker, see
https://www.economist.com/node/770819
2
The biggest issue here is that unlike most measures, which are specifically targeted at threats or very specific markets, this is a clumsy and poorly explained attempt at base pandering, in the form of tariffs. If it had emitted a white papaer, and consulted its allies, it would have been possible to build something useful to protect the US, and EU, and other steel industries. this is just clumsy.
What Trump does not understand is that all countries want to protect their industries. Free trade allows benefits for both sides, tariffs hurt both sides. Also, what free trade does is open the door for new products and new markets with trading partners. Obama had set the US on a course to lead the world in green energy. Since Trump destroyed that, he is attempting to go back to the 50's economy giving China the lead in the next generation of tech innovations. WOW!
72
Congress has to back the tariff increase. This could be the point of departure with the mid-terms in sight. Let's not forget their "achievements" in Trump's name.
3
No one but Trump supports this... Are the Trumpsters going to see this as another swampy congressional push-back, or are they going to except the 'wisdom' of our congressional leaders. They darn sure aren't going to vote D, regardless.
2
Congress has to pass a law to do that. I don’t see Ryan and McConnell doing that
I'm going to keep pounding this theme. There is no such thing as a domestic economy. All economies are linked and intertwined. When one part suffers, all parts suffer. Everything is made and traded everywhere. Prices are set through global competition. Instead of making economic policy a tribal us against them, it's really all us. To start a trade war, especially against our allies, is like self mutilation.
In a free market, capitalistic system, no job is guaranteed. Jobs are constantly being created and eliminated. Businesses are born, grow and die. Trade wars are like a virus. They end up killing the host.
Job retraining, education, domestic investment are what is needed to combat sector job losses. Not tariffs.
290
THIS^^^
We do not have a 1950 world economy. We are a global economy where we all benefit each other. Trump "It's not fair to the US". Who said economies are fair. That is a view held back in the early century.
Get in the new millennium Trump! We are dependent on trade across the globe because they can produce for less cost than we can. That's not bad! We export products as well.
Trump- concentrate on producing products that we are good at and developing new ones!! Do not start a trade war with our allies!!! You have already made the whole world angry at us- way to go!!
Time for you to leave the White House- the sooner the better. We can begin to restore the worlds admiration for the red, white and blue!!!
10
China has grown 8% - 10% per year for 30 years, with enormous commensurate increases in employment and Chinese domestic wages, while at the exact same time wages stagnated and employment in good jobs has gone backwards in the US. "Globalism" is literally the world's biggest con job.
2
Americans already know how dumb and dangerous Trump is. Do we know how dumb and dangerous Pence is?
1
Just look at Wilbur Ross the supposed esteemed head of OUR commerce department. He is a little old, wrinkled, nasty, angry supposedly christian man and he wants WW3 to prove some elusive point.
WE THE PEOPLE - average Americans and average people around the world - must not let The Con Don, Ross, Navarro or any other Robber Baron start WW3 in OUR name. WE are the only ones who can/will stop them by refusing to pay for their personal power wars with OUR hard-earned taxpayer treasure and or lives - or those of OUR children and grandchildren.
Everybody loses in war. WE must prevent it.
53
I am not a constitutional scholar, by any means.
But I thought we had a separation of powers.
How can DJT unilaterally make a decision with such far reaching national and global consequences, one that will effect my consumer choices, with zero dialogue, no debate, and not 'buy in' from Congress.
The total lack of process and deliberation can't be OK (Is it even legal ?)
We don't elect dictators in America.
Or do we?
29
There is a lot more to the law than the constitution. Congress decades ago gave the president the authority to impose tariffs as needed on a national security basis. But exactly how these particular tariffs protect national security is a mystery.
14
Before you start talking about "dictators" here...why don't you travel around the world and see what real ones look like...
Donald Trump has expressed admiration for several dictators, has he not? He has a few characteristics of a dictator....Remember that those who did not clap for him at his State of the Union address had committed" treason" in his mind...( Why they even wasted their time attending is a mystery to me.)
To him, the White House is a "dump." not enough gold, too much old wooden, brown, used furniture...Trump has the same decorating taste as the late Saddam Hussein. I think he does not see himself as a dictator, but as an Emperor. And Congress is letting him reign unimpeded: Tariffs on steel for national security?
Qui bono? Who benefits from a trade war between America and the world? Our president could not be doing Putin a bigger favor. Look at Trumps moves since winning the presidency. Weakening the Western Alliance. Putting America in deficit budgets through "tax reform." Demanding huge military spending increases while weakening the State Department. teearing up treaties. Now our president is igniting trade wars. Putin has gas and oil to trade. I don't hear anything about Russian tariffs. Were I China I would be getting ready to do to the United States what we did to the Soviets. Spend us into bankruptcy chasing military expansion.
28
Did it ever occur to you that maybe President Trump needs both Putin and the Chinese leader in order to solve the NK problem. You can't change everyone else but you can work with especially if you have long term plan in site.
Hawley Smoot Tariff - what has changed that suddenly makes repeated this a good idea?
7
The European official is saying that it is an act of aggression for the US to not buy from the EU. That is a very convoluted definition of aggression. Aggression would be if the US forced Europe to buy from the US. In this case it is the EU that is the aggressor by forcing the US to continue to buy from the EU.
13
Frame it how you like it, the tariffs are still a stupid idea from almost every rational, fact based point of view.
But as your comment makes abundantly clear, the motivations for the proposed trade tariffs are 100% emotional.
14
It is an act of aggression to impose punitive tariffs on our trading partners based on the horrendously uninformed view of global trade policies of one person: Donald J Trump.
15
Breaking the status quo with unilateral tariffs of 25% in violation of WTO agreements. That is the aggression. The EU is trying to propose very specific targeted measures to influence key US politicians. Precisely to avoid a heavy / generic response.
14
As your fact checker notes, there are no "massive" trade deficits. Once you have a policy based on "alternative facts," you only have Alice-in-Wonderland chaos. The only sure "winner" in a trade war with allies either in North America or Europe is Vladimir Putin and Russia. Makes you wonder, especially in light of Trump's unwillingness to impose Congressionally-mandated sanctions and potential Russian involvement in selecting Rex Tillerson as Secretary of State, if Mr. Putin is the real Cheshire cat behind this looming, economically destructive trade war among friends. And here it all seemed like a distraction from Russian meddling.
91
We should not be dependent upon Russia, China or Korea for our needs of anything, especially for our military. Similar to being reliant on oil from the Middle East. Not prudent.
4
Why would you need to keep a unproductive reserve of steel manufacturing capacity for the military - to fight whom?
1
The SAD part of this issues is that Trump goes after long time allies like EU and Canada. Not after China- Russians or the Middle East.
Who was on the site of America at 9/ 11 ?
34
No understanding of where to use apostrophes, eh?
3
EU Trade Commissioner Cecilia Malmstrom: "This is done under something that's called Section 232, which refers to internal or national security. We have serious doubts about that justification, we cannot see how the European Union's friends and allies in NATO can be a threat to national security in the U.S. We find that assumption deeply unjust."
My thoughts exactly
113
allies that are profiting from our military now without shedding blood ..there is no requirement for us to feed these peaceful nations..they are about due to start killing each other again like they have been for all of recorded history..we could never defend ourselves with imported steel nor could we go back to europe to bail them out again
You ain't seen nothing yet.
This is just the beginning. No country wants to actually react before the actual tariff details are established. But after they are things will change dramatically.
These proposed tariffs having nothing whatever to do with protecting national security, and all of the US's trading partners know it. It is pretty much solely about Chinese overcapacity in steel and aluminum production, with the lower prices worldwide that result.
Yet countries like Canada and Germany are powerfully affected by this metals glut, don't 'cheat' in either producing or selling metal products, and are supposed to be close allies of the US.
Canada will be particularly hard hit and Canadians are increasingly shedding their 'nice' stereotype and are demanding sharp action by the government. And the Canadian government now knows that 'nice' does not work with a bully like Trump.
All this is to say that when retaliation comes, it is going to be quick, sharp and large. Nothing else will get Trump's attention.
526
Hear Hear! Nothing unifies Canadians like being picked on by an American president.
4
@"There", ignorance is not a card to play when your audience has a grasp of the facts.
The US has a trade surplus with Canada, so only Canada can "win" in a tariff fight. Canada is the biggest export market for 38 US states. That's a lot of Senators (hint : there are 50 states, so 38 is a majority.) And by happenstance, Canada is also the biggest foreign market for US steel exports.
So...expect steel mills across the US to suddenly shut down operations within 1 week of the application of US import tariffs. And if that isn't enough, count on gasoline rationing because where do you think US refineries get their oil imports? Even more than Supertankers, distribution systems don't turn on a dime.
That should catch everyone's attention, even DJT. But I wish you best of luck with the attitude.
26
NormBC:
Nobody can blame you Canadians (or anybody else) for looking out for your own interests.
We Americans put this idiotic bully in office (even though more of us voted for Clinton than for him). We now get to harvest the "benefits" of that decision.
2
Is there any issue that Trump doesn't address by shooting from the hip, then trying to backtrack?
8
Targetted retaliation--Kentucky bourbon and Wisconsin motorcycles, etc.--is very smart. Count on more of that kind of thing from ALL those countries affected. But will it be effective? Those jurisdictions have already indicated a willingness to act in self-destructive ways. Just look at who they elected.
118
If the EU, Canada, Brazil, Japan, Korea, Mexico all target the same american gods, it would be devastating to these industries (like bourbon) and would rapidly make change happen.
5
One does not need to be an economist or an historian to discern the downside of a trade war. Economically it will have far reaching negative effects around the globe. Politically, it plays into the hands of Putin who is eager to bring down the West's alliances. It is beyond belief that we have elected someone so ignorant of governance and sound policies. But here we are. The nightmare continues.
32
The EU is getting upset because they are losing a big trading advantage over the US.
3
Is it possible that the Europeans could save our democracy?
Please, please target products from the reddest states, Europe. Maybe when people are losing their jobs they will finally stop voting Republican.
155
Trump is an idiot who doesn't understand the first thing about economics. Trade deficits are not bad. A trade deficit means that you are taking more than you are giving, which is good for the majority. Trade wars will kill jobs, not create them. If Trump wants to build exports, then he should advocate for investments in modern technology such as renewable energy. He's doing exactly the opposite.
32
yes and then it piles up in something called national debt ..have a look at the correlation between our counties debt and our trade deficit
Let's see. Sanctions for Russia and tariffs and trade wars for everyone else. Maybe this is Trump's way of leveling the playing field for his friends in Russia.
7
He didn’t implement the russia sanctions
Let the EU and China fight back. They will lose in the long run.
FACT
2
Ahhhhh, no, we will be the losers. This isn't the 1950s. We will be a third world power soon enough, give Trump time.
15
So you think the EU and China should just roll over? Get real.
8
Fact or fake news from the government's propaganda machine, Fox News. Anyone with a basic education that can see beyond their nose can see that going backwards to coal as an energy choice and giving green energy production (solar and wind) to the Chinese is a loser. That protecting the American Aluminium and Steel industries while not realizing that just about everything Walmart sells comes from China and that you will have to pay more for an American automobile, is a non-starter. In the long run America loses BIGLY.
9
Trump's tariffs are designed to produce a trade war and thus chaos in the U.S.economy as payback to Putin for help in the presidential election and an installment on the blackmail payments.
14
They've been doing this to US for years. Try buying some California wine or Champagne in France or Italy. Try buying an American car in Japan or Italy.
It's time that we stopped being patsies.
6
I live in a wine region on the German-French border. Californian wine is sold in every supermarket here standing on the shelves next to the local wines and sold at a reasonable price and, yes, I frequently buy them.
And having lived in California for years: I remember Californian wine to be more expensive over there.
13
There is no Californian "Champagne". The name is protected...
France or Italy have great wines so consumers have very little motivation buying them.
As for American cars - there were some European produced cars from US firms that were (are) doing quite well because they give the consumer what they want
12
Did you ever think that there may be no market for California wine in France or a Chevy in Japan?
7
This is going to be "bigly" bad for the United States, because U.S. products -- food, clothing, manufactured goods -- are (very much!) inferior to those produced in Europe and Japan. Nobody in Europe will pay extra for crummy "whiskey" from Kentucky when they can get whatever they want from Scotland or -- coming soon, with the new free trade agreement -- Japan, which produces some of the best whiskey in the world. Nobody will care if they can't buy Levi's when they can purchase outstanding Italian fashion products. Nobody will care if they can't purchase inferior U.S. cheese or pork products when they can get whatever they want from France, Spain or Italy.
This is a very dangerous game for Trump to play, because the world doesn't want America's crummy goods -- it's very clear that the world already understands European products are worth a "premium" price. U.S. goods are only successful in the world because they are relatively -- but not really -- "cheap."
LOL, good luck, Trump.
144
Did Trump really not see this coming? He has no idea what a trade war will mean for exactly those workers he professes to want to help. Make steel more expensive, and there goes the cost of replacing a bridge, Back in the day when he actually built buildings, instead of just marketing his name, he must have been aware of how important any increase in the cost of steel was and how many projects would have been stopped by a 25% tariff on foreign steel.
It's not like there is loads of extra capacity just waiting to be used in American steel mills.
"Good and easy to win." The man really IS ignorant.
467
yes and tax money will flow in to pay for it from workers with jobs
I don't think Trump ever built buildings.. If he did he used Chinese steel and didn't pay his workers. He IS worse than ignorant he's a thief.
Well, the NRA is finally going to get its wish fulfilled - metaphorically. The E.U. is waiting for the “bad guy with a gun...” with their guns loaded.
Trump is showing his limited intelligence, limited processing capabilities, limited knowledge of trade (“trade wars are good and easy to win”) and limited capacity for emotional regulation.
Bourbon and Harley aren’t what Trump is worried about. He couldn’t care about jobs in McConnell and Ryan country (or jobs in states won by Democrats). He’s just looking to keep Ohio, PA, MI.
He’s not taken any action in the White House as President of the United States. All his actions can be explained by his 2020 re-election dreams.
5
About steel: Calatrava's excessive design for the World Trade Center's Subway Stop was plagued with cost overruns. From the Times: '...steel elements that could only practicably be manufactured abroad...' and '...a factory in Northern Italy produced one- third of the 36,500 tons of steel...' The fact that this part of a United States memorial be built with foreign elements is astonishing and insulting. Trump is completely correct in re establishing the country's steel industry by any means necessary.
13
What a stupid argument, you are going to determine the fate out Millions of people based on the fact that some Italian contractor was the most efficient person at producing steel for a single project - maybe there just better than you guys at it...
14
Argument the first.
If the imported steel was the cause of the cost overruns, imagine how much bigger those would be if there had been a 25% surtax imposed on those imports.
Argument the second.
Even if Trump could "re-establish" the country's steel industry (which he can't), it would only be through extraordinary means such as tariffs--and the cost of US steel would necessarily be higher than imported steel.
3
"The fact that this part of a United States memorial be built with foreign elements is astonishing and insulting."
It is the WORLD Trade Center. And you seem to have missed two other facts:
1. Santiago Calatrava is a Spanish architect.
2. Skanska USA, which is one of the contractors, is a Swedish-owned company.
6
Cranberries is not a random tariff selection. It directly targets Paul Ryan of Wisconsin. While Harley Davidson motorcycles of Milwaukee is an obvious trade war candidate, most people aren't aware that Wisconsin is the nations leading cranberry producer. Responsible for 60% of Americas cranberry crop.
405
Just how much cranberry do you think is bought in Europe? I tried to find some American or Canadian cranberries in three large supermarkets a couple of months ago, zilch. Let me explain this for the Trumpies: If it is not stocked in a store, it is not sold. Wisconsin may be the nation's leading cranberry producer, but 99% of it is consumed in the USA. Now, Harley is all over Europe, but still its small beer compared to steel.
4
The fact that you could not find cranberries in large French grocery stores in mid January is not surprising. It would have been very difficult to find them in US grocery stores, too. They are a seasonal fruit available in fall generally through December (months ending in "er"). The USDA estimates that 1/3 of cranberries grown in the US are exported, almost exclusively to Europe. This would hurt Wisconsin.
10
its also home base for mercury marine one of our finest high quality manufacturers
Putin's puppet doing his bidding once again. The only one who wins a trade war between the U.S. and our allies is Putin.
7
The journalist could have mentioned a connection between orange juice and Mr, Trump's popularity in that swing state.
2
The EU and the US media are feigning outrage that Trump would impose steel tariffs but just last year the EU did the same thing. "The European Union has set duties of up to 35.9 percent on imports..."
“We are continuing to act, when necessary, against unfair trading conditions in the steel sector, and against foreign dumping,” EU Trade Commissioner Cecilia Malmstrom said in a statement.
I guess it's OK when the EU tries to protect its markets but bad when the US does it. Because... yes, because "Trump".
https://www.reuters.com/article/us-eu-china-steel/eu-sets-steel-import-d...
27
"... just last year the EU did the same thing."
If you bother to read the article you linked, you will see that those duties target China. That is very different from Trump's blanket tariffs, which affect all countries alike.
Here is the *complete* first sentence:
"The European Union has set duties of up to 35.9 percent on imports of hot-rolled flat steel from China to counter what it says are unfair subsidies in a finding challenged by Beijing."
20
Please check your source:
EU tariff announces against Chinese steel - only.
Trump announces tariff of Chinese steel that effects ... Canada and EU?
11
The EU only targeted specific Chinese steel manufactures and it had credible evidence that these Chinese steel manufactures were receiving improper state support. Trump is targeting everybody without justification (Canada and the EU do not give their steel makers improper government support).
13
Trump is playing checkers in a game of three dimensional chess and, with his "leadership," the US is going to loose.
3
agreed. NHS/NHI necessary to provide security that only the very rich US citizens currently enjoy -- and which all people in other rich countries take for granted
1
Trump denies that the World is connected;America First is his mantra. Fine;if you are the only country in the World.In reality;you punch the World in the gut with tariffs;the World punches back.The winners;a few steelworkers. The losers;EVERYONE ELSE. Higher prices;fewer jobs;less tax revenue. Ray Sipe
5
Another attack on our allies, putin must like this quite a bit. There is no love lost between putin and the E.U.!
What would vlad do?
8
The EU should be targeting any business associated with Trump and his cronies, as we do with Putin's people and Robert Mugabe. Trump is behaving like a tin pot dictator, disregarding expert advice and acting on whim, possibly because he wants to distract people from his affairs with porn industry people. It is a manner of action which requires an assertive response from Congress, and both parties. I feel great sympathy with people in the USA, with a man like this in the presidency. How appalling.
19
I hope they retaliate. I hope Trump fails. I hope the blame goes on the republicans.
29
If implemented, Canada would fight back too, as the most aggrieved party. This article explains:
http://business.financialpost.com/news/economy/take-that-trump-how-the-w...
You know, you will never, ever recover from this presidency.
11
Neither will we, i think
4
Good! Because we’re rebuilding America, and the hoeeible trade deals are over. Yes, we will pay more for American goods, but they will be cheaper than anything Europe or Japan ships here, and our products will be made ten times better than anything Asia produces!
America First !!!
To make products 10 times better than products on another market would require competition but not closing the doors for innovative ideas.
10
Gee I guess you missed the fact that we're neglecting our infrastructure. We're not rebuilding anything.
3
Apparently it's not just chaos in the White House that trump seeks. It's global chaos.
We think it is like the 4th grader who disrupts the class to get attention. Oh, wait, trump is a 4th grader!
6
It’s common knowledge that Trump doesn’t have a clue what he talking about. Whatever comes out of his mouth is wrong.
9
Thankfully such economic turmoil will hit trump supporters hardest. But decent people in Blue States should not have to be part of this.
#calexit
4
Who needs advisors when you think you know everything? So long Gary.
3
As much as I do not like the trade war talk, especially from our child in the WH, I enjoy the poetic justice of the EU targeting McConnell's Burbon country and Ryan's Harley-Davidson ( hope they are not made of imported steel on top of it!). Both sycophants to the liar-in-chief should feel the heat turning up from their "base."
Heck, we should all get a bottle of Canadian, Irish or Scottish Whiskey to toast to the demise of McConnell's Kentucky Burbon industry. Let their base come after them in the way they understand: with pitch forks....
12
As a Canadian of course I’m incensed at this bullying, but calmer thinking leads me to speculate that Canada might be best to do little or nothing to retaliate. Trump and Navarro have already hinted that industries that would be harmed by the tariffs can apply for exemptions. Expect everyone to apply, causing chaos. Expect lawsuits challenging the national security motive (already tweeted away when Trump suggested tariffs be used as leverage against NAFTA).
Since Canada buys as much steel from the US as the US buys from Canada (free trade lets you buy what’s closest and therefore cheapest, even if it’s across the border) diverting our local supply chain and satisfying our own demand should not be an insuperable problem. We could and maybe should just sit back and watch while the protectionist dinosaurs trample their own ground.
A major part of the price of aluminum is energy, and no one can match Quebec for abundant cheap clean hydro. Just ask the New Englanders who buy it. No tariff will correct that problem and one on aluminum could only be self defeating.
5
Wait and see if the "tariff talk" goes away after the election in western Pennsylvania.
5
I think we should see this as the wake up call to diversify our relations with other markets (as we are doing) and accelerate the infrastructure that will allow for that to happen
4
Three cheers for the E.U., Canada, Mexico, et als!! Stop this world menace, friend of Putin, and America's embarrassment. We resolutely stand with you.
12
Looks like the bull is threatening to barge into the china shop. Be careful where you step!
5
A better discussion of the situation in Europe at the Financial Times
'Europe fears exposure to Trump's steel defences
https://www.ft.com/content/fdd69b14-20a3-11e8-a895-1ba1f72c2c11
Why is the EU concerned? Because the tariff will divert cheap steel (much of it originating from China) from the US into the EU market, where production costs are high. Not quite the angle the American media is putting on it.
3
What concerns me the most is that Trump lacks the empathy for the ordinary American worker whose job might be lost or who will have to pay higher prices for goods bought in America. In addition, I doubt that he lacks the knowledge or skill set to evaluate the disadvantages of a trade war. In his mind his is "bigger" and he is going to prove it." As long as Ivanka and Jr's inheritance is safe he is not concerned.
25
I rather like the delicacy with which the EU proposes to inflict reciprocal pain on the US: by squeezing sensitivities in Kentucky and Wisconsin. And it reminds me that throughout the Obama years, I often wished he had asked himself, "What would LBJ do in this situation, to bring Congress into line?"
80
"What would LBJ do in this situation, to bring Congress into line?"......LBJ had a majority in both houses. A more relevant question is what would Obama have done if he had a majority in both houses. Just as Trump was elected by the people, so to the Republican House and Senate was elected by the people. And unfortunately no matter how ill informed and irrational these people are, they are the same people we all have to live with.
4
This is, of course, the irony in capitalism. In order to enjoy the benefits of free markets—including free international markets (imperfect ones, albeit)—there have to be social programs to help individuals deal with the dislocation that comes with change. In theory, if we get our steel from abroad, our resources can be freed up to pursue economic activity that is more productive, raising standards of living. But of course there will be dislocation, and nobody who is dependent on the previous system, from coal miners to steel workers, will enjoy it. The answer isn't to isolate ourselves and take slower growth overall. It's to set up some basic social insurance programs—strong education that makes us adaptable, universal health insurance, unemployment, and the like—that give our citizens the opportunity to manage, embrace, really, the ever-changing world. But on everything from trade to immigration, we just want to pull the shades down and pretend the train is still moving, while we sit stuck in the middle of the tracks.
277
"there have to be social programs to help individuals deal with the dislocation"....How about rebuilding our crumbling infrastructure. Those are good jobs that can't be sent over seas.
6
The mainstream media can't bolster the EU position on this one. From Trump's position, trade wars are easily winnable. From Donald Tusk's position, they will be quickly lost. Our massive trade deficits reveal the truth. If Trump pulls the massive consumer card called the USA from the EU table for just a month, it will destroy the EU economy for decades and Tusk knows it. Its the best time to level out the trade agreements and get real free trade in the process.
2
This "deficit" hides the fact that there is over 600 bn EUR/USD worth of goods flowing across the Atlantic each year, just a bit more in one direction than in the other. If that flow is now going to be tampered with, it will cost jobs in the US and in the EU.
91
You are dreaming. EU is in trade matters superpower, not like Mexico or Canada. Highly competitive, export oriented, largest market, it will use all on its disposal to defend its economical interests - which means US economy is not so safe after all.
169
The EU is the largest market in the world.In terms of purchasing power China would be the second largest market and United States would be the third largest.To a trump supporter facts are inconvenient but in the end the facts prevail
196
EU go girl!
57
Would enjoy seeing the comments section of Le Monde if I wrote: Allez les Ricains. The French are humorless when their ox is even gently gored. As for your flippancy, it would be unforgivable. I doubt that a trade war will be fun for the EU or the US.
Trump's tariffs on steel will have little positive affect on jobs in those industries. Jobs have been lost to automation in that industry and many others so even if the companies sell more steel, the job increases will be minimal and there will likely big job losses in other American manufacturing sectors that rely on steel such as the automotive industry.
The tariffs will most affect our close allies in Canada and the EU who are poised to retaliate (can you blame them?) but the larger affect will be an erosion of trust between the US and their closest allies and a lowering of US prestige in the world at large.
If Trump goes forward with the tariffs he will damage America for no other reason than to increase the profits of his cronies in the steel and aluminum industries.
198
Last year, the U.S. had a $2B trade SURPLUS with Canada in steel and aluminum. How can a tariff by justified? Where's the fairness? Why shouldn't Canada be angry? And why is Congress so spineless in the face of Trump's bullying tactics?
7
It's fair and reasonable that the EU would place tariffs on goods not manufactured within their borders. And it's equally fair for the USA to do the same. Globalization has not worked to the advantage of anyone but totalitarian governments in Asia and elsewhere in the third world. Both the US and Europe are quite capable of being almost entirely self-sufficient in goods and services. And why not?
15
Agreed. The fact that China sells us their cheap products via other countries (looking at you Canada) is questionable fair trade ethics. Plus we should be capable of supplying all of our own, at least for our military needs. This includes oil.
4
Let's put tariffs on things we do not produce, l.e., tax them to raise their price?
We are perfectly capable of lowering our standard of living. Why not?
Have you read any history or economics?
7
Sure. Have you ever traveled outside the U.S.? There is a big world out there and we are but a small part of it. The U.S. is 5% of the worlds population. Lets pretend the other 95% doesn't exist.
7
Trump might thrive on chaos but his supporters will pay a heavy price for all of the "fun" he is having. EU retaliation involving some $3 billion is nothing compared to what is at risk in the $1 trillion NAFTA trade.
The steel tariffs are increasing the odds of NAFTA collapse. And if that happens, it becomes a lot less attractive to operate car factories in the US, which rely on Mexico sourced parts.
It would also be a disaster for agriculture, which has shifted to low labor content commodities that can be purchased elsewhere by Mexico. A trade in livestock and feed between the US and Canada would also be disrupted.
His supporters were told China was the problem but Trump is targeting everyone but China.
161
The EU could do decent sensible Americans a great favor by targeting tariffs against American companies with lots of employees in 2018 Congressional swing states. Or would that be considered interfering with U.S. Elections?
542
You are from Switzerland. By even making the statement above you are interfering in US elections.
4
So long as it's not from Russia and it helps Democrats, any interference is entirely welcome. Integrity is completely negotiable here.
3
Why do you want to see American workers punished? I don't understand your thinking. How is wishing American industries harm "doing sensible Americans a great favor"? Sounds more to me like a hateful reactionary response to your own president's actions.
Who actually enforces tariffs?
2
Countries that import goods collect the tariffs when the goods cross their borders. In a direct sense, you see some of the collectors as Customs agents at the airport.
In addition, countries are bound by an elaborate set of treaties. If one signatory to a treaty violates the terms by raising import duties then the other signatories can raise their duties in response. If this spirals into an overall raising of duties then this is called a trade war.
There is also an international "legal" entity called the World Trade Organization that serves as a referee over all this. I do not know what its legal foundation is. I guess it could just be a kind of treaty itself.
That's about all I know, Emma. I hope it helps. Real experts on all this are welcome to join in.
4
Not Trump, he’s lazy. He won’t even protect and defend the Constitution like he swore that he would. I’m surprised he didn’t try to tweet his oath of office. Lazy.
6
The U.S. Customs and Border Protection would be the agency tasked with enforcing tarrifs.