Free trade's existential defects are manifest.
• Specialization is both a byproduct & a hallmark of free trade. Specialization is, by definition, loss of self-sufficiency. Loss of self-sufficiency is de facto loss of national security. A post-industrial America is free trade’s logical—and untenable— endpoint.
• Specialization enlarges and potentially globalizes the organic whole beyond its optimal—and ultimately viable—size.
But political leverage, in the end, may be the most important advantage of economic nationalism: Trump's tariffs/nationalistic fervor may be the weapon that ultimately compels Kim (via Xi Jinping) to capitulate on nukes.
1
Trump's concern for the poor and middle class workers of America is less than heartfelt.
With all his talk of MAGA, why are his, and his daughter's products, not Made in America? Why does he continue licensing his name for foreign use?
The steel and aluminum tariff will end up punishing Americans, particularly those hoping for a manufacturing job, because modern foundries are automated, and require less personnel. Trump might fund a jobs re-training program to teach technicians how to repair robots and write code.
The U.S. will still have to buy tariffed-steel and aluminum until they have enough functional foundries built to meet U.S. demand. Buildings, cars, infrastructure -- anything using these metals will cost more to the consumer.
But the worst will come in the form of retaliatory tariffs. The U.S.'s top imports are medicines, clothing, produce, foreign autos, plastic, computers and tech products, and petroleum. Imagine how happy American poor and working class consumers will be when tariffs are laid on these products and their prices skyrocket 25% overnight.
3
To all you globalists:
If tariffs/protection is so bad, why do most of our trading partners do this, and generally, more than us?
If a trade war is so horrible, why would our trading partners engage in one?
If fair/balanced trade isn't important, why does every country fight so hard to have a positive trade balance?
China is building the science and technology of the future on a grand scale, using the cash they receive from their trade surplus. That is their advantage and our disadvantage. Why is that OK with so many people?
So, now my Kansas company has to pay 25% more to finish my truck parts, which compete with complete truck parts from China which are not subject to tariffs. What complete idiot thinks of these, oh, wait.
2
Is there any truth to the contention by some that international free trade always leaves someone--a manufacturer or a consumer--on the short end?
Chances are yes. But in the meantime whoever provides the best products the fastest and cheapest wins out. Consumers and companies are the winners, some portions of the labor force lose but others win when they work for companies tapping into global export markets. We used to manufacture most textiles here, but now everyone loves their $5 Tshirts from Indonesia. Biggest issue is when workers or an industry lose out there are insufficient jobs or retraining opportunities for them.
U.S. steel and aluminum manufacturers do not have the capacity to produce the quantity of metal American firms need right now. Their factories use old technology or are shuttered.
What are American car and heavy equipment manufacturers, builders, train and track manufacturers, gun manufacterers and small businesses supposed to do while waiting for America to ramp up their steel and aluminum facilities? Lay workers off? Of course!
Consider the ripple effect. Some workers could wait for the new automated U.S. plants for years, hoping to get one of the few jobs available. They'd have to find work in the meantime, and Trump has no jobs re-training program forecast. New automated factories won't need as many workers, so only a portion of the unemployed will return to their sector.
We can certainly continue to import tariffed metals, if countries will sell them to us. That would keep some Americans employed.
But the world's retaliation against tariffs must be considered.
Imagine if U.S. prices for medicines, clothing, produce, foreign autos, plastic, computers and tech products, and petroleum shot up by 25% overnight due to retaliatory tariffs.
These are the U.S.'s top imports. In an America that does not pay a living wage, and plans to cut Medicaid and Medicare, the losers in a trade war are 99% of Americans.
And when is Trump and family going to stop licensing his name to foreign countries, and have their products made in the U.S.?
2
As a Briton I get the message: Mexico, Canada are friends, you are not. Well, to be honest, one feels increasingly in the wrong, being allied to a state headed by an infantile, transgressive narcissist who respects only dictators and who has the attention span of a tadpole. We ought o have stuck with Europe, our values are much closer to theirs!
1
This tariff thing is another of Trump;s deflection. The Mueller investagation is getting too close for comfort so he needs to change the dialog. He's already changing his turn: "some adjustment" to tariff countries ie, Canada and Mexico . Trump will find a way to wiggle out of h=this bad call and if he can't he'll yell "Fake News!" We've seen all this so many times.
2
The first paragraph in this article should note that Dear Leader and Princess Ivanka both rely on foreign manufacturers for their clothing lines. Will there be tariffs on their ties and dresses in the future?
4
MAGA!!!, Level the trade playing field!!!
1
Remember Middle America, you voted for this guy.
1
The man-child Trump, sitting at the Kiddies Table, showing off his latest menu-sized signing. Does this picture paint an image of someone who has but a clue in his clue bag what he is doing? The United States, finally number one in something, the World's laughingstock.
DD
Manhattan
2
It’s always a good portion of thinking to read comments here. Seems like the editorial is trying to hold the center, but most of their readers are so much coastal left liberals with no tolerance to anything else, that it makes it almost awkward sometimes.
1
No, it's just that the average reader of NYT are just more enlightened than the folks that voted for Trumpski. I mean, c'mon, there's a porn actress who's got the goods on him. His son in law doing deal regarding to his personal business debt. Half is staff has had to resign. Others have been indicted and still others to come will be.
Actually you don't even need to be enlightened - you just need to be sensible.
I have plenty of tolerance - for a good leader. Not one like this.
3
The U.S. Constitution says that we should tax and regulate trade to provide for the general welfare.
Republicans want to do the opposite.
Liberals read and follow the constitution.
Republicans wave it around while they argue we don't really need anything but a military, police, president, and the second amendment.
Read the constitution. Read the Republican platform.
The left is the future. The right wants monarchy.
2
Dear America,
I thought we were friends?
Yours In Disbelief,
Australia
5
He's a man of his word... unlike past "do nothing" Presidents. Remember "You'll be able to keep your doctor..." and the "draw a line in the sand" commentary on Syria.
Thanks goodness we have a leader who... leads!
1
Yeah, speaking of Syria, now we are taking casualties with boots on the ground. We've abandoned our longtime Kurdish allies. And the slaughter of rebels continues unabated and now Turkey is leaning to the Russian influence-sphere.
Yeah, great leadership, Trumpski.
2
Classic accidental president style; bloviate, rant, rave throw tantrums, then deliver a policy that has no teeth compared to his initial posture.
The Chinese have a saying for this man baby in chief.
It's called wet noodle.
It's stunning that some Americans still buy this rubbish.
3
A man of quick temper acts foolishly, exalts folly, stirs up strife, and causes much transgression - Proverbs 14:7,22,29
3
Ignorance in action.
3
Ryan disagrees; McConnell is concerned. Do something about it; Congress can overturn- if they had an inkling of a spine. Instead Trump continues to solidify himself as the worst president ever!!!
1
I bark to the wind since my criticisms of NY Times highlighted Leftist GroupThink are rarely r published. Once again, the comments of the readers below that are marked with a Times Pick seal of approval are just anti-Trump diatribes, "full of sound and fury, signifying nothing" to quote my favorite writer. One of the comments asks, "Why impose tariffs at all?" Good question, but why have the other countries imposed them on us for so long? Trump is just trying to level the playing field. I am sure that if they remove their tariffs, the USA will do the same, on a SELECTIVE basis, mind you. Do you think that France's Auchan and Carrefour, the USA's Walmart and Target, just to name a few stores that come to mind, should ONLY contain Chinese goods? Is that the situation that the West has let happen? Trump is trying to change this but he's being stymied by Loser Leaders (really followers) all around him.
1
This is a stunt by a con artist trying to save a House seat in PA 18th district that's up for grab in 2 weeks. He needs to prove to Ryan and McConnell he has many tricks in the bag if they hope to keep GOP majority comes November.
Watch for an arrange rally in PA tomorrow when he basks in adulation, telling the crowd" I saved your jobs".
The tragedy is they will believe him.
3
I encourage the EU, China, and anybody else out there hatching retaliation plans to focus on products from red states. In the blue states, we think this is just as much of a stupid plan as you do.
3
Does anyone think China doesn't cheat? And They make it with dirty coal. They are dumping and polluting.
1
The Dictator is now running the country.
2
I believe you meant rails in this article -- railroad ties in America are generally made out of wood or concrete, not steel.
1
The creature is fantastically stupid. He's been asserting that we suffer from trade imbalance for 30 years without evidence and statistical figures of support. Without realizing his stupidity, he is in the process of destroying our nation, our economy, our world prestige and standing for peace, civility, and human rights, in order to appease his own pathetic ego. Since listening to the Democratic convention in 1948, at age 7, on the radio, of course, my wonderful Republican parents passed by and said, "Honey, he's gonna lose!" And I had no concept of what they meant. But the next day when headlines misprinted "Dewey Wins!", I found this "game" fascinating. I observed my mother campaign for "Ike" and she was able to get a large pin of his that showed his picture and you turned it slightly and it said, "I like Ike." None of my classmates had such a campaign icon. I tire of this president who is totally unfit. Each time he signs a bill, he has to hold up the pages with his signature--so we will see he knows how to write his name? Egocentricism is now an illness.
3
Where does the US get the most steel?
1) Canada
2) Brazil
3) South Korea
4) Mexico
5) Russia
So let me guess: Russia is exempt, right?
2
Where does Trump buy his steel? Bet it’s not from U.S. steel-makers
3
That should be researched. You are likely correct.
If that could be shown, it would hurt him slightly.
1
Trump and other mercantilist economists think tariffs are the correct answer to the loss of American jobs. They're not. The correct answer is: Find the reasons why American businesses cannot compete (hint: It's the government, stupid) and then get rid of those reasons (hint: Undo the regulations that can only ever make operating a business more expensive).
Too bad the pet economist on the NYT staff refuses to figure that one out. Perhaps it's because he enjoys wearing jackboots while stomping on the neck of American businesses.
1
It would be better for the entire world if the other countries were regulating more.
Workers need protection. Consumers need protection. The environment needs protection.
The U.S. Constitution says that government should tax and regulate trade to provide for the general welfare. Our founding fathers were correct. Republicans are wrong.
1
Good work. Finally a Pres who is not the pathetic tool of international investors.
Hello, Trump is an international investor. He is playing his base to make himself rich. He basically said that was his plan during the campaign, because he is very smart.
Within a year Trump will declare TPP fixed and sign it. Mark my words.
1
A number of comments are invoking the Smoot-Hawley tariffs of 1930 as worsening the Great Depression. Patrick J. Buchanan states, "Smoot-Hawley [did not] cause the Depression.... Again, myth. The 1929 collapse on Wall Street triggered the Great Depression. The failure of thousands of banks, wiping out a third of America’s savings, caused the Depression to last until WWII, long after the Smoot-Hawley tariffs had been rolled back.
Americans today are being indoctrinated in false history."
Reference: http://buchanan.org/blog/the-isolationist-myth-165
2
Throwing the baby out with the bath comes to mind.
Something as complex as this needs careful analysis. It's clear that there is an imbalance in trade with certain countries. But the bull in the china shop style of the president is at work again; whereby he knocks everything aside because he's not a critical thinker. I wish the matter had a gone to the floor for a debate and vote. Here is a case where executive power is too broad. And dangerous to boot.
I'm just happy that modifications were able to be made. There are probably more that could have been made.
So he won't impose sanctions on Russia for cyber-warfare on the nation, but he'll gladly apply steel and aluminum sanctions that hurt the US and all its allies. This action speaks for itself as treasonous.
2
All he knows is how to bully. This is nothing more than extortion... “see I’m going to hurt you unless you do as
I say.... “
I hope the world gives back to him what he’s dishing out. You don’t cave to the demands of an extortionist.
2
This plays well to Trump's low information base.
1
Why is it when Trump has a group of mostly white guys in the room, that he puts the one non-Caucasian up front next to him. I guess since it was International Women's Day, he had to have at least one woman up front also.
1
In Mexico we're ready! we are used to living the hardlife down here, and also willing to make sacrifices at any cost, we will retaliate, we have lots of options,.. we will follow our trading partners, and they will follow us... America will never be the same....
2
Americans will pay for Trump's mistakes either way: 25% more for products made with American steel, or 25% more for products with foreign steel. Take your pick.
1
Regardless of the blowback and foolishness of this tariff deal, Trump must show he is the boss. It is a ridiculous wave of his wand of power to flaunt it to exhibit his whims in such an unmeasured way. Congress should abridge this by making this ability of a sitting President a Congressional
Power only. We must protect this country from tinhorn leaders such as Trump.
1
“We look forward to educating the Trump administration...”.
Perfect response. I love my country but I look forward to that too. I hate that the American people will bear the brunt of these global shotgun blasts, but we made this bed.
1
South Korea should demand that all US troops leave the peninsula and take back a large piece of Seoul that the US army occupies smack dab in the middle of their capital.
1
But he loved that photo opportunity.
Maybe that's the diagnosis. He'll do (or say) anything as long as the cameras rolls.
Our president believes no publicity is bad publicity and sader still is his lack of understanding of these reality TV like stunts. Hopefully the GOP-led Congress grows a spine and starts being the check and balance to the Executive Branch, otherwise the mid-terms are going to swing non-GOP hard.
2
I still see this as a misdirection strategy to keep us from talking about a variety of embarrassing and negative developments in Trumpland.
Stormy Daniels, another lackey calling him an idiot, bleeding staff, etc.
It feels a lot like that point of the debate when in desperation Donald announced he would order the justice department to investigate the person he was losing the debate to.
4
We voted for him and he's here to stay.
If anyone thinks he's doing this for the American worker think again. It's all about the vote in Pennsylvania and making sure he continues to has republicans elected to watch his back.
2
It is foolish to try to re-create jobs that were lost to automation. In the 80's one steel industry employee could produce 200 tons of steel. Today it is 1000 tons. Robots now weld and paint cars. Front-end loaders have replaced wheelbarrows in the coal industry. The future jobs are in AI and robotics.
1
And when AI writes the software and robots build and repair robots, then what?
AI is already doing most stock trades. If s corporation is a person, does it actually need any humans?
If we do not use democracy to make sure humans remain the center of the economy, most of us are likely to become "excess labor."
Build a Human Economy.
1
It's a ploy to get Saccone re-elected. Saccone - steel area - Pennsylvania. Duh! Trump's ego is so fragile that he can't stand any Republican losses now - because it'll be about him. These Repubs are mostly terrible and should lose but if Trump wants to personalize it, so be it but there's even more incentive; Trump doesn't get impeached if the House and Senate don't flip this November.
C'mon people, wake up. This guy and his handlers will stop at nothing. He will screw up the world economy if need be to stay in power now that he has it.
3
if Barrack Obama did everything that Trump did, his face would be chiseled into the mountain with some other great presidents. Trump has been an amazing president but the media is so rabid that they can't enjoy the successes of the Trump presidency. The North Korea talks probably came about when chubby's sister and the NK contingent came to S Korea for the Olympics and saw people in a free society with enough to eat and finally said enough is enough.
We Canadians don’t respond well to blackmail and threats. My country imports MORE from Trumpland than we export to his country. I will be lobbying hard to shift out trading stance elsewhere. When we signed NAFTA, China was a minor player; now it’s the largest economy and biggest importer. Isolationism didn’t work out too well for the US when it refused to enter the war and help the UK in 1939. Two years later it reaped the results of thT selfishness and betrayal of a friend. And the same kind of negative repercussions will again be felt by the US.
2
This is simply a trumpian tactic for the Pennsylvania elections. He can probably fool the voters in Pennsyltucky before he retracts the tariffs after the election and this might allow the republicans to win that special election. It will be interesting to see what stunts trump and his enablers pull before and during the mid-terms.
2
Tillerson just went to fetch coffees.
1
Trump had decided to grant Nebraska an exemption till someone told him it was not a sovereign state.
2
Trump is always saying how evil China is & how they are hurting our economy. It would be to the advantage of the U.S. to get along w/ China. Why? They are the largest holders of our debt @ 10% in the world. If Trump pisses them off enough they could cash in that debt, @ $1.24 Trillion & destroy our country financially. Currently we don’t even have a working State Department to have viable communications with ANY foreign countries, especially China!! The U.S. under the lunatic Trump administration cannot get along w/ anyone, including themselves (check the revolving/one way door of resignations, firings, indictments, etc.).
1
It is sometimes hard to believe most of our politicians don't work for China.
1
As one who has seen my business cut by 2/3rd’s from excessive imports from China at prices that can’t be beat - unless of course all you pro global trade people are willing to work for .25 cents an hour? I hope Trumps idea of “reciprocal trade” gets signed into place ASAP to save the nyc factory I work with. Want to sell your brand in China? You’re looking at a 30% mandatory fee of copartners you must work with to sell in China. Then comes the tariff. Meanwhile there are 100k plus merchants from China selling on Amazon, eBay, Cherry etc directly to America consumers with discounted postage fees from the US Post Office. At this point with it so hard to stay in business I’d be happy to provide the same mandatory services that have been quoted to me by the Chinese, collecting 15% just for stamping the import papers. The Chinese are not playing fair. You don’t need 2000 academics to see that.
1
Yes, people that say China is not cheating at every level have not done enough research, or are lying.
Tariffs are probably not the answer, but that doesn't mean we don't need an answer.
1
Ok, I understand that fair is fair, and it's not fair for our steel and aluminum industries to have to compete with prices that are lower than they can match. But there's a reason their prices can be set lower than ours. Why are we no longer hearing about human rights abuses in this conversation?
2
Trump again attacks our European allies. Destabilizing Europe is making Putin very happy.
3
Notice how the phrase "free and open trade" is tossed around but what does it really mean? It certainly doesn't mean "fair" trade. Countries like China have been placing prohibitive tariffs on US imports for years. This move is specifically aimed at sending a message to China and the other countries with whom we have a ridiculous trade imbalance. Even the national security argument makes some sense.In the case of a conventional war, the US would be in danger of serious steel shortages because we just don't manufacture enough of it anymore in the US and it used to be a major industry. I say if the world wants a trade war then let the war begin!
1
American steel and aluminum manufacturers do not have the capacity to produce the quantity of metal American firms need right now.
What are American car and heavy equipment manufacturers, builders, train and track manufacturers, gun manufacterers and small businesses supposed to do while waiting for America to ramp up their steel and aluminum facilities? Lay workers off?
Of course. Consider the ripple effect. These workers will have to be laid off while they wait for the construction of modern metal factories--for years. Modern factories are automated, so only a portion of the unemployed can return to their sector. Trump has no plans for job retraining.
To be sure, we can continue to import tariffed metals. That would keep some Americans employed, and prices high.
But the world's retaliation against tariffs must be considered.
Imagine that U.S. prices for medicines, clothing, produce, foreign autos, plastic, computers and tech products, and petroleum shot up by 25% due to retaliatory tariffs.
These are the U.S.'s top imports. In an America that does not pay a living wage, and plans to cut Medicaid and Medicare, the losers in a trade war are 99% of Americans.
And when is Trump and family going to stop licensing his name to foreign countries, and have their products made in the U.S.?
2
There are many existing tariffs, of all types, imposed by countries around the globe. Yet the trumpies claim the absence of tariffs cause a trade deficit. The existence of these multitude tariffs belie their assertion. The steel tariff appears to be a tariff known as a political tariff, one in place to support a given economic act for political gain, e.g.; the peanut tariff of 131.8%. There are existential threats to American steel workers, however, a tariff is not the cure, and may cause greater damage. The danger to industrial workers is capitalism. It is suspicious that disruption of U.S. allies is once again coming from trump. PROSECUTE RUSSIAGATE!
2
Has our government ever considered using a quota system in place of tariffs? Quotas could be adjusted based upon economic and political considerations. True there's little chance for the Federal government to profit directly without a tariff, but it does do the job for, "WE THE PEOPLE"
2
Rather than part of an effective U.S. trade or economic policy, this is more akin to a screaming three-year-old that wants all the attention to be about him.
Given that the US produces most of its the steel and aluminumthat it consumes and that Canada and Mexico, now exempt from the tariff, provide most of the rest of US consumption, it’s not clear, or even plausible, that Trump’s latest action will have a discernible effect on the world price of aluminum or steel. It certainly will not have any affect on China. It would be shocking, if US steel and aluminum manufacturers, begin to add capacity, given that those are long term decisions, based on such a superficial policy decision by the president.
Instead we have yet another declaration from President Trump that highlights just how incompetent, if not criminally incompetent, he is. Moreover, it highlights just how incompetent some of the people with whom he has surrounded himself are, such as Peter Navarro. Let’s set the record straight. Navarro’s experience and research in the area of trade, especially with China, has near zero credibility. As Harvard university economics professor Gregory Mankin has said, Navarro‘s views on the trade deficit are based on the kind of mistakes or “even a freshman at the end of the ec 10 knows.” That, I suppose, makes him a perfect choice for an adviser to this president.
Finally, this latest episode was probably the excuse Gary Cohen needed to resign. More to come.
3
My Canadian friends and I are disgusted with the bully in the WH who is wrecking the environment we all share, and negotiating by ensuring other countries lose rather than looking to enhance trade wins. We’re revolted by the lying, vulgarity, corruption and general sleeze. Most of all, we afraid for the world that such an ignorant, self-interested and unstable man could have such power.
In the meantime, we’ll quietly and politely eschew American vacations and products as best we can until the country we love regains its decency and votes out or impeaches this disaster.
1
Those few dollars you got in your paycheck with his "tax cut" will not be enough to pay for the increase in the price of products we import. Yeah, that includes the clothes on your back and everything around you. Truth be told, this is part of his secret deal with Russia to undermine our relationship with our allies, particularly in Europe. Right our of Putin's playbook to weaken Europe and NATO.
2
We haven't learned a whole lot about this President and why he makes the decisions he does.....save for the one thing: he only makes decisions that benefit himself personally. You can bet either he or a family member is going to come out ahead in some form or manner. The country? No, not so much.
1
Hey Justin Trudeau. The same day the Trump tariff increases go into effect apply an export charge to all of the power sold to the US market for 35%. This is only fair as the total Trump charges are also 35%. Remember, steel will rise by 25 percent and aluminum by 10 percent, that is to any government official a total of 35%.
1
These tariffs are aimed at China, because “it dumps cheap steel” on the U.S. and kills our steel industry. However, experts claim 2-4% of imported steel comes from China; the bulk comes from Canada and European Union (Germany?). China does buy agricultural goods from the U.S., which I assume will either have stiff tariffs slapped on them or will be curtailed. Either way, we may have offered a small breath if life to one industry only to set another on a path to death. Let’s hear from Farmers for Trump
1
In the end,the trump voters in the red states will pay with their loss of jobs, healthcare, education.Perhaps this is necessary ,to have new leaders elected.DNC pay attention.No more HRC types.Time to return to FDR.
1
Yet another example of playing to his uninformed base to the detriment of the rest of the country, as well as affecting world trade. Congress needs to take control of this situation and overrride his impulsive manipulations.
2
Whenever someone points out that forcing American workers to compete directly with foreign workers that get paid a fraction of our pay has been used to keep American wages flat, and to reduce benefits, someone always says that is not the problem anymore; the new problem is automation. This ignores the fact that Americans are still competing with foreigners that make less with fewer benefits and weaker social safety nets.
But concentrating on automation, tax policy is being used to disadvantage workers versus machinery as well.
The tax code has been used to give machinery an advantage over humans and the latest tax bill make it worse.
The top worker rate is 39.5%. But capital gains is taxed at 15% to 20%.
This has resulted in workers subsidizing the robots and software that replaces them.
This is proven by the fact that the Federal Reserve says we are at full employment, and is raising interest rates based on that fact and meanwhile we are at 80% capital utilization, meaning that 20% of our machinery is lying idle.
This mismatch between inputs is likely hurting productivity. There is more to productivity than replacing human labor with machines. The humans that run the machines have to be educated, healthy, and confident they can take care of their children (the next generation of workers) so that they can concentrate on their jobs.
The whole point of the economy should be humans and humans are still the most important input.
Invest in humans.
Build a Human Economy.
6
Yet another deflection from his latest woes of Stormy Daniels and acting the fool on gun control. Entirely predictable and expected, let's start holding the GOP Congress's feet to the fire and get them to actually DO something to stop this horror show.
6
So, our closest allies with the exception of Europe get a free pass. Gee, who benefits most from driving a wedge between Europe and the US?
Russia!
Collusion!
9
Any show involving animals will reveal the disadvantages of in-breeding. Breeders of dogs, horses, cattle and others for show and other competitions know that non adherence to simple genetic guidance can yield negative results. The top breeders provide charts which supposedly show lineage.
This potus is the predictable result of years of careful devolution by his current ownership group. In my opinion, they are close to the barrel's bottom. My interest in his re-election is based on an uncertainty of "how low can they go?". The Fall of Rome and The dissolution of The British Empire and others were not planned. They just happened in association with ignorance, self absorption and weaknesses in other areas. The assumed leadership group in Congress and the Senate are collectively ignorant enough to think that a prize winning publication of the near future could be The Rise and Fall of the USA. They should be targetted for change.
2
I don’t like the idea that HE alone can decide to raise or lower tariffs if said countries make other amends.
That reeks of quid pro quo.
Maybe if you stay in his hotels or by a condo or two, or better yet if they pony up some dough for Jared or Trumps re-election committee.
Can you even imagine the screaming from the “base” if HRC or Obama or any Democrat for that matter had said it.
How come nobody ever raises that. I’m waiting Ryan, McConell
Willful ignorance is dangerous.
8
Same thing crossed my mind. Exemption is just a euphemism for a shakedown. Kushner was in Mexico.....
1
Elections have consequences.
2
It's nothing more than a bargaining chip for future trade talks. The EU takes a similar approach by managing its markets. Farmers in France protested it several years ago to no-avail. Interesting how The Times failed to reference the EU in this article.
1
Our President wisely follows the trade policies of Harding, Coolidge and Hoover. The antediluvian wing of the Republican Party should be rejoicing.
3
Reality check those who find fault with are president have zero allegance to united states. Personlly Donald will go down as best presdients we have since george washington are first. Tariffs are nothing if american people smarten up an boycott all imports unless its made in usa would have huge impact on jobs pay living wage.
2
And don’t forget, not only is he great, but he is giving our young people a great role model for morality.
1
Trump proves once again that he works for the USA and not for the Swamp and so called allies who defy USA every time that it benefits them.
Perfect setup for crony capitalism and payoffs to the Trump organization.
A tariff which is "flexible", which may be applied or not. Maybe if some approvals for Trump hotels go through? If some campaign donor's business is favored in the exporting country?
This is how the most corrupt and backward countries in the world operate.
4
Hmmm....”a tsunami of lobbying” and the Trump administration can set individual tariffs per country. Thank goodness we have an administration with no history of conflicts between personal and national agendas.
4
Like everything else Trump, even when he identifies a potential issue (trade) his execution is sloppy, politically self-serving and broadly problematic. He’ll still get an underserved three or four point bounce out of this, only to eventually loose it again. Watching Trump execute a policy decision is like watching a horrible movie about a slow-motion train wreck, all while sitting in a theater that’s on fire.
4
To REALLY Make America Great Again, Trump should now issue a presidential decree (excuse me, executive order) mandating all steel manufacturers to revert to exclusive use of coal and its byproducts for fuel generation and to process iron for steel production.
More wins for coal. More wins for climate-change-denying, enemies-of-the-environment and other Luddites in Trump's cabinet.
I mean, if the country is to revert to out-dated trade practices that make sense to very few, why not just fall into an abyss of total stupidity. Or maybe he has.
3
If signing things could be a job, Trump would excel. But he really only likes making gestures that make him seem like he is making change. All while he grifts the days away.
2
Just follow the money on this one. Like all of the big Trump plays.
6
This whole tariff thing is about that special election in Pennsylvania. Lamb vs. Saccone. I said it last week and I'm still saying it now. Trump is taking every loss in GOP seats personally because it is a referendum on him. He's visited there twice and I just read in the NYT of all places, he's going again.
Why do you think the tariffs have already been relaxed a bit even before their implemented. After the election they'll be relaxed even further.
This is just to show that steel and coal area how he can keep his promises.
You watch, after the election, slowly and quietly most of the bite in those tariff's will just evaporate.
Vote Conor Lamb I say!
4
Any country that attempts to negotiate bilateral exemptions from the tariffs will be succumbing to Trump's intimidation and playing precisely into his classic mobster game of bullying to extract 'protection' from his threats. Most likely the concessions he'll seek will not even benefit the US economy or the workers he claims to champion, but instead will be windfalls to campaign donors or the Trump portfolio itself.
A better strategy would be for our primary trading partners to form a coalition and agree NOT to bargain individually, but to challenge the US with reciprocal sanctions if the policy is not rescinded. An isolated American economy - and its stock market - will rapidly feel the impacts of such a stand-off. And that WILL influence the political reactions of Trump backers and US voters.
Canada and Mexico have said they will not be bullied into accepting a Nafta deal. The EU is well-positioned take a similar stand. The right way to deal with an unrelenting bully is not reasonable discussion, but a hard punch to the nose.
2
Wait, so every country except for Mexico & Canada now has to ask for an exemption over the next 15 days? What kind of joke is that? And just how much consideration is each country going to get? Does Trump just expect every country to come groveling along, and that each negotiation can be handled in a matter of hours? He’s embarrassing our nation and risking a major revolt from our non North American allies just so he can play master. Just watch, I wouldn’t be shocked to see them all create a major trade organization and leave us out. Either Trump backs off or this does not end well.
One nice silver lining here is that a major trade war would all but guarantee a blue wave in 2018 & 2020, and if the results of the trade war are bad enough it might just collapse the GOP. What’s that political saying, “never let a good crisis go to waste”?! Well here we go.
3
Unless lawmakers put aside partisan politics and override Trump’s unethical tariff, the lawmakers are fools for accepting Trump’s lie that the tariff is necessary for the sake of national security and for allowing Ross Wilbur, Peter Navarro, and Richard Lighthizen to get away with categorizing “fake news” all concerns that the tariffs will lead to job losses, inflation, and economic instability in America and global trade war.
The famous economists are born and bread of the 1 percent. Their idealized world misses the way business is done dealing with China - constantly being cheated, like doing business with criminals. China has always been in a trade war with US for as long as the two had any history at all, and China has always blocked any thing/person/service from outside unless the Chinese stand to make enormous gain while doing something patriotic - cheating foreigners.
Hmmmm. A stock market crash followed by protectionism and new tariffs; where have we seen this before?
3
I arm against Trump and all he stands for. His misogynist, racist, anti-LGBT base will vote for him no matter what he does.
And blanket tariffs are probably the worst way to deal with our trade problems, except doing nothing.
But the swing voters who voted to send a message to the "establishment" about the billowing out of the American economy have real problems exacerbated by the current trade regime.
Democrats need to face the fact that just continuing the current "free trade" regime that has been used to keep worker wages flat and drive their benefits down needs fixing.
Both parties have worked together to undermine the American worker by forcing them to compete directly with workers that make a few dollars per day. And many of the countries are subsidizing their industries while Democrats quietly acquiesce to Republicans refusal to "pick winners and losers" ensuring that American workers lose more than necessary.
We could have spent the last 30 years demanding that companies that want to export to the U.S. pay a wage closer to the U.S., and give U.S. style benefits. We could have demanded that those countries create social safety nets, consumer regulations, and environmental regulations.
Instead the"establishment" has done the opposite, using foreign competition as a hammer to lower wages, benefits and regulations through austerity programs here and around the world.
Create worker security or create fascism.
The choice is clear.
Build a Human Economy.
This tariff is to buy votes in Western Pennsylvania.
The working class voters there do not understand that the Trump Tax Cuts will kill their MEDICARE. 84% of the dollars go to rich people and huge corporations, and the resulting budget deficit will be $1.5 Trillion dollars above the already huge deficit before the tax bill was passed. Mandatory government spending limits (does not require vote of Congress) will kick in and require the gutting of Medicare for retired people. Do the math. Do these Blue Collar Middle Class voters understand what they are voting for?
1
yes, alas, I think they do: they are desparate, fearful and they are voting for a tough guy daddy who will make it all better for them, channeling their worst instincts like racism, a craving for the protection of guns, and a baseline terror of anybody not just like themselves. circle the wagons!
how's that Enlightenment thingy workin' out for ya?
Instead of sanctioning Russia and Putin, trump sanctions our allies with a trade war first strike. Trump is not achieving lasting change. He is achieving lasting damage with our allies no less, just as Putin likes it.
"Canada's Freeland says no chance Canada could pose a security threat to the US" reads a ForexLive headline - well, trump has barely started and is ahead of schedule to making the US enemies of the entire world.
2
Trumps decisions are here today gone tomorrow. I just hope Trudeau puts on those boxing gloves and fights for a fair trade agreement with the NAFTA negotiations. It's been disturbing watching our southern neighbor being torn apart by a wanna be dictator. Pinch me when its over.
3
The Chinese can't sell their over-capacity steel anyway, so this won't really hurt. What China will likely do is respond with tariffs that hurt Trump voters in the old economy (at a low cost to China), and turn to their belt and road partners and say "So now that you know who Trump is, how does a few billion from China in infrastructure investments for your country sound?" Who would you choose?
How does this help American businesses sell more abroad? (It doesn't!)
2
I don´t think, that the Tariffs will have that positive effect in the US. Less steel will be imported and nothing else will change. As long as there is no improvement, to become more competitive in the world market (related to steel), there will be no benefit out of it.
But… the damage is done. In my opinion, what people (the World) will remember is, how the Government of the U.S. is treating their Allies. It’s sending out the signal:” I don’t need you anymore, you are not welcome anymore.” This Message is transported via the News to every Citizen in the other countries. One might overthink to travel to the US, for the next time…
That's a shame, instead of uniting the allies - he does the opposite.
3
So he has delivered on one of his campaign promises again. It galls me to realize and say it. But it cannot be denied. I only wish that previous Democrat presidents had been so bold.
On the other hand, it will take years to undo the disruption to the health, security, and economy of the nation by a man whose impulsivity is only exceeded by the size of his ego. As a retired teacher I would be repulsed at the thought of Trump's picture on a bulletin board for President's Day!
I wonder how effective this would be if your essentially letting the biggest exporters of steel unaffected, why sign it if it is not going to change anything and it’s going to cause misunderstandings with allies, I think it would’ve been wiser to not sign anything.
Also, the president is keeping his most consequential campaign promise: he takes orders from no one. Not experts, not enemies, not allies, and certainly not from the American people.
1
Please forgive me for taking a cynical view of Trump's motivations for imposing these Tariffs. It's just hard for me to ignore these compelling facts: a) Trump continues to use every opportunity to deflect attention away from Mueller's Russia investigation especially as the evidence continues to mount against him as well as his inner family circle b) There is a special election about to take place in an area of Pennslyvania where steel is produced and that has been hit hard economically for years. If the Republican whom is favored to win this election actually ends up losing, then Trump will only see (being narcissistic in Chief that he is) the blue wave headed to D.C. along with a Democratic majority and his own likely impeachment in 2019 for corruption and collusion with his friend Putin during the 2016 election c) For the reasons stated above, a trade war is as good as a real war in Trump's mind. It is all about protecting himself in the short run regardless of whether it sends our economy into a downward tailspin. Caring about other Americans and doing the right thing for our country are thoughts I doubt ever crosses his mind.
1
Here he goes again - alienating our allies and making enemies. This time, starting a trade war.
If Trump and his followers knew any history, they'd know that trade wars tend to spark real wars.
3
The question is simple: How do the tariffs benefit the only thing he cares about, Trump and his family?
Despite his many lies he has demonstrated his inability to hold steadfast on anything but that which benefits him.
Many people make the mistake of thinking that Donald Trump regards himself as President of the United States in more than title. In fact he sees himself as an autocrat focused on himself and his own brand. That gives him maximum flexibility in lying and contradicting himself and ignoring inconvient facts.
2
The giant corporations that owned Americas steel works and aluminium smelters took everything they could in the way of profits and never reinvested in plant and modern manufacturing techniques...that is why they lost the business.
4
The president indicated he would be 'flexible' awarding exceptions to the tariffs.
Translation: With every 7 day stay at the Trump tower, your country gets 30 days Tariff-Free.
What about Norway? Surely Norway will get an exemption, too.
1
Well, he has isolated his country and is killing jobs by the thousands but at least this time he has not walked away from the ceremony before signing the paperwork.
So things are improving :-)
1
Seeing the document being held up a thought crossed my mind that Trump likes issuing edicts so that he can sign them in big black letters and hold them up. An extension of his constant craving for attention to the written word, perhaps?
Thanks, Baby Boomers, for feeling so "poor" during 1970s stagflation that you lost all notion and went for Reagan's credit-fueled myth and magic. 1980 is when the trade balance first went south, and has stayed there ever since, no coincidence. Also when massive numbers of GOP government officials ended up, gosh, in jail. Hmmm.
Since then?
-Deregulation that led to the S&L crisis in the 1980s. Remember that?
-Greenspan's extremist Objectivism, which led to a bloated market and crash in 2001.
-Wars and more deregulation, and a full-blown Great Recession in 2008.
-And now an aging Boomer-elected Trump, who's cronies are stuffing their pockets at the head of federal agencies, while Trump dismantles effective government, chants fascist code words, and promises to keep hands off Boomer stashes.
-More elected and appointed GOP folks heading for jail.
Anyone see a pattern here? Cash in today's pocket is king, all else is nothing.
Future generations, if they survive the mounting trash and the coming crash, should ensure the Boomer generation is remembered as valueless, greedy, and purposefully allergic to sound due diligence in good faith, because "shiny."
1
I’m a proud Canadian and former friend of the United States. Our country imports more from the US than we export. But I will be lobbying hard to change this. China is now the bigggest importer in the world and needs our products. Canadians don’t like having guns put to our head and threatened to roll over on NAFTA. That’s not what a “friend” does. We will look for other friends.
3
Forget the collusion with Russia. The European Union threatens the economic freedom of a nation that does not collude with them. Every nation should have right to determine what is their best interest. USA should be allowed to protect its steel and aluminum industry from being run out of business.
These tariffs will result in many more American jobs being lost in the wider industrial sector than it will protect in the steel industry. That said Trump probably can't loose here as the newly unemployed will undoubtedly vote for him in 2020 when their grievances get pinned once again on immigrants. What's more whatever trace of a union those industrial jobs supported will be wiped out.
1
I am an American manufacturer of specialty woodworking tools. I have been purchasing domestic aluminum plate for our machinist to mill, and American-made carbide and steel cutting tool components since I started our company 42 years ago. My customers appreciate and support these choices, for consistent quality, durability and for our support of American industry and jobs.
My cutting tool supplier put this tariff insanity very clearly: if they have to pay more for tool steel, they'll have to charge more. Prices on all steel, domestic and imported, are going up. When they, as tool manufacturers, have to charge more because of these tariffs, they expect a portion of their customers will buy imported cutting tools instead of domestically manufactured tools. The perversity of the tariffs will come back to bite us.
Trump and his so-called advisors (meaning, political advisors trying to get votes from the Rust Belt) are playing demolition derby with our economy and our standing in the world. Time for him to be fired.
6
This seems to be an attempt to make the NATO economy weaker, thereby, helping the Russians. In coming months he will cut down the contribution to NATO, strengthening the Russians.
1
He and Bernie Sanders both said they'd dump the TPP, re-do NAFTA, and basically enact more tariffs. Hillary defended the TPP, until it became politically impossible. She did not suggest increasing tariffs.
It's almost as if she had already thought of the things we are discovering now.
"It's almost as if she [Sec. Clinton] had already thought of the things we are discovering now."
Yeah, that's why many of us voted for her.
I just don't understand this. After the Great Depression and the dismal Smoot-Hawley Act, the U.S. signed trade agreements using enforcement language that would keep the playing field level for the nation. The U.S. allowed steel dumping as the industry willingly closed their plants because they couldn't compete with other nations and the enforcement language and provisions were ignored. Congress knew that corporate America was doing this for and it was cheaper for them than using more expensive, but better U.S. produced steel. They allowed the corporate greed to dictate that policy and did the same thing with the textile industry and others. They also allowed corporate America to build plants in other nations whose products are then imported to the U.S. with no tariffs. So Trump is right in the sense that the U.S. dropped the ball but never mentions this was all done for the benefit of big business without any thought of National Security. Now we have a crisis. I think that if the United States began slowly implementing existing protections in our trade agreements this entire matter could be corrected without a trade war and impending economic disruption. American workers have gotten a raw deal, but the cause is corporate greed and no enforcement of existing trade agreements. It's always about the money.
Not being an economist I have no idea how this will play out, but I just think changes in trade policy should be incremental and not create a trade war.
China currently imposes a 5% import tax on non-agricultural imports, plus a 17% value-added tax (VAT). Total, 22%.
The U.S. has no VAT, and imposes a 2.9% import tax. Total, 2.9%.
U.S. steelmakers, who are operating at a 19.1% disadvantage to Chinese steelmakers, have had enough. American carmakers like Tesla are hit by a whopping 25% import tax - plus the VAT - making for a 39.1% disadvantage (they've had enough too - why Elon Musk now supports tariffs).
There are plenty of reasons to disagree with Trump - this ain't one of them.
1
This tariff is gonna hurt a lot of our NATO allies. I wonder who benefits the most from the US picking up unnecessary fights against NATO members?
2
If the wiggle room really means payments needing to be made for concessions, in whose pockets will those payments end up?
1
Wonder if he's right? OR wonder if the conflict this creates leads to newer and better solutions to the problems of rotting industries and income inequality? Wonder if all the conventional wisdom going back to Milton Friedman, neo-liberal, free trade economics are not the best solutions for the world? Yes, Trump creates chaos but as Hegel says, out of antitheses comes synthesis. We could use some new solutions right now. So, although Trump scares me in many ways, I have to admit that I'm ready for conventional wisdom to be challenged. The US has been too long in decline for the middle class with Republicans promising the holy grail through tax cuts and the Democrats avoiding the plight of the working class through its focus on education and meritocracy and catering to the professional class. Perhaps it's time to live in stormy seas.
"Trump Authorizes Tariffs, Defying Allies at Home and Abroad"
You forgot to add a key component: "Trump Authorizes Tariffs, Defying Reality and Allies at Home and Abroad."
To be honest, though I do not like Trump, I have to admit that he may be right that any trade war can be easily won by the US. The reason for this is that the US simply does not manufacture anything on its soil that an opponent in such a war can retaliate against.
I have in the last two decades seen very, very few American-made vehicles on the roads of Europe, Apple products are assembled in Asia, and so are American-designed jeans, and of a products "assembled" on US soil only certain financial products that tanked in 2006/2007 come to mind.
So, there is nothing of substance that the US manufactures on its soil that a foreign country can retaliate against. I cannot think of any American-designed product that is not made in Asia that anyone I know in Europe wants. I do not recall the last time I saw something with "Made in the United States of America" written on it and sold outside of the US. It simply does not exist any more, IMHO.
Having said that, I doubt that these tariffs with increase the number of such products outside of the US. The US simply does not make anything any more that the rest of the world needs. Apple products are "Designed in California" and assembled in Asia, and that is the only group of products anyone in Europe, for example, sometimes still cares about.
1
I'm trying to understand who this is supposed to help?
If the tariff is on raw steel and aluminum, but not manufactured products containing steel and aluminum, then doesn't that damage American manufacturers?
Why would I buy a car made in Ohio with tariffed steel and aluminum when I can buy the same car made in Mexico or Korea or wherever made of untariffed foreign steel?
They surely are not thinking that American steel manufacturing can accelerate at will to meet demand?
2
This iron-fisted move has exceptions for our two biggest sources of these products, and will have more exceptions yet to be specified. It sounds more like hot air for the election in Pennsylvania, and after that has happened, it will ultimately be applied to only a few weak countries, if any. A bit like all that interminable talk about coal, which led to a net increase in jobs of a few hundred at the expense of national water, land, and air quality, and safety rules. He can tear down but he cannot build.
1
I have predicted a second Great Depression
and have appropriately organized my investments. It's a sure thing.
America only became great as a response to the depression of 1930s and WWII. We need a repeat of both then we will be great again.
So keep hope alive those of you who may survive.
It seems likely that the owners of steel and aluminum companies will take advantage of these tariffs to raise domestic prices and profits passing it on to consumers. If so the tariffs will do nothing to help the workers in this picture. The only effect will be to raise prices and make the rich fat cats richer.
I was under the impression the Democratic Party supported union workers, what happened? Didn’t Bernie Sanders advocate for tariffs? I’m shocked I’m not seeing more supportive comments here.
A stock market crash followed by protectionism and new tariffs; now where have we seen this before?
President Herbert Hoover #2: The Smoot–Hawley Tariff Act of 1930 that led to a trade war and eventually exacerbated the Great Depression.
1
Interesting that the article states "Officials from Canada and Mexico have said they will not be bullied into accepting a Nafta deal that could disadvantage their countries."
Yet that is exactly what our "allies" have been demanding of us for 30 years now. We have been called on to accept globalization to our detriment for years, but suddenly we're being bullied for wanting to exercise fairness?
2
Trump's tariff plans were pulled together by a handful of people. There was no discussion by a wider group. We don't know if any of America's larger companies were consulted, or if bankers or large farming operations were brought into the discussions. Did we sit down with the English or the French, our oldest allies and trading partners? Yet many of these groups could be affected. We need more open government from this administration.
1
Tariffs....Trump's answer on how to move forward.
Never mind that tariffs usually don't work and have the opposite effect of what is intended, resulting in insularity and a continuing degradation of the American brand across the world.
At every crossroads of decisionmaking, when facing two options on how to proceed, Trump weighs pros and cons and 95% of the time moves forward in the direction that will create the most chaos, disruption, and calamity, and chooses the option that will result in the least beneficial outcome.
1
So. He signed the authorization for tariffs against the advice of both international allies and the GOP.
Whose advice was he following, then?
His accountant.
In 2016, there were many Bernie backers in this comments space espousing support for the candidate's anti-Nafta, anti-TPP, anti-"free trade" stance.
Where are these voices today? Sanders commented recently that Trump diagnosed the problem correctly, but his remedy is insufficient; it's not "comprehensive" enough.
Sanders supporters, no affection for this current disruption / intervention?
Perhaps I've missed something, as I work full time and don't spend my days on the internet ... but what is the rational for these steel tariffs again?
I hear national security is the reason Trump can unilaterally declare them. I don't buy it, but if yes, then what is the goal ? Shouldn't we just then buy up some cheap steel rather than drive the local price up ?
If this is about insuring there is manufacturing capacity, then what is the capacity they mean and why is a global trade action the way to achieve that goal? Shouldn't we instead make a gov. owned steel company to insure tank production? (sounds expensive, but if the problem is as urgent as the President says .. perhaps this should be considered).
Like I say, perhaps I've missed the explanations, but I don't get my news via twitter.
I also hear this is because of the unfair practice of the rest of the world producing steel at a low cost. Even if you accept this as 'dumping' buy China, I'm not sure how driving up the price we pay to Canada for steel does anything but eventually produce more profit for low cost producers like China.
I must have missed this explanation too, but I just don't see any logical structure for how a tariff on countries that represent a minority of our imports is more than just sand in the gears of global trade ... and not a well thought through means to a well stated goal.
Like I say, I don't do twitter.
The vague suggestions that countries like Australia might be exempted from the tariff don’t sound very reassuring on this side of the Pacific. From all accounts Trump had assured the Australian government last year that they’d be spared from any new tariffs and his recent announcement caused a lot of consternation. Just when the Australian government thought they’d found solid ground with Trump he pulls the rug out. Belated and vague reassurances won’t have helped much to firm up the relationship.
America First will become America Failing. As China is building ports and trade routes around the world, we are turning our back on other countries , not interested in doing business with them As we underfund scientific research, we will slip in our position of being the leader in intellectual and technical innovation. We used to be an example of how to protect workers' safety and safeguard the environment. We will become the What Not to Do example.
Sen. Manchin of West Virginia, a Democrat is for it. How is it that only one Democrat stands up and says this is a good thing for American workers? Let's not trot out the buzz words "unintended consequences" just yet my share holding freinds. Save it for more strategic purposes like when workers ask for higher wages, health and retirement benefits. Profits are at stake.
By the time DJT was dodging the draft, the rust belt was already firmly cinched around the middle of the midwest. This move will only serve to isolate us even more from those countries with which we trade.
1
Why do why do all here countries fight to protect their steel industries, which are making a nice profit, while our country has had its steel industry decimated by these same people and Trumps policies are called protectionist?
Just, exactly, what is wrong with the USA having a robust steel industry?
1
"Mr. Trump said his tariff orders were tailored to give him the authority to raise or lower levies on a country-by-country basis and add or take countries off the list as he deemed appropriate." This is tariff-setting by personal fiat, a path to tariff-setting by personal favor, and a repudiation of 75 years of US-led work towards a rules-based global trading system offering at least some commercial predictability.
2
The last time we tried steel tariffs, under "W," it cost 200,000 jobs and billions in lost wages. Far more jobs were lost downstream than were saved in steel, and the tariffs were quickly overturned. Those ten steelworkers standing behind our current tenant at 1600 Pennsylvania and applauding just sent pink slips to hundreds of thousands of their fellow American workers.
Why raise tariffs when a federal infrastructure program with American milled steel a prerequisite for approval of tenders would bolster the American steel industry, create employment, relieve infrastructure problems and build a few bridges (rather than burning them) ?
Trump just set a big next step on the U.S.exit road. Often he reminds me very much of the wife of Lot in the Bible, and her fate. I wish the American people godspeed with their efforts to restore democracy in their great country.
The real betrayal was the flow of American capital to far off places to reap the benefits of low cost labor. And the real danger is that the over-leveraged and arbitraged financial markets will lack the resiliency to withstand the dislocations and disruptions that are sure to ensue from these backward looking tariffs. A 2008 magnitude meltdown is a real possibility, if not a likelihood or even a certainty. Trumpsters, hold on to your made-in-China MAGA caps! We're in for a wild ride.
Going up against the WTO will really please Trump's base. However, this policy is going to hurt many other industries in the US, from peanut farmers and orange growers to car and motorcycle manufacturers and others. Isolationism and destabilisation of world order seem to be the dominant strategy of this White House. Who benefits? Not really steel workers but the 1% who hold stocks in these companies. No wonder Wall Street is buoyant tonight!
1
According to our Constitution only Congress has the authority to raise tariffs. However, in recent history a narrow law permitted the President to do so if it was a matter of national security. This is not a matter of national security, but once again the GOP/Congress will cede it's authority to the President. We no longer have three independent branches of government; we no longer have a democracy! This is not what the founding fathers envisioned.
Where is the NY Times investigative reporting on what's really going on here - Trump just created a law to make his buildings worth more.
Construction is the no. 1 consumer of steel and aluminum.
Higher construction costs means less building or more expensive buildings.
Ergo, the value of current holdings increases.
Trump just abused his presidential power for personal gain.
Someone. Please. Figure this out already.
What I cannot understand is how Trump can make this decision against the advice of the vast majority of economists and most members of congress. Is it possible that Ross and Navarro are wiser than all the economic experts?
Are the Trump supporters going to be very happy with a global trade war?
Shooting oneself in the foot actually does hurt!
Politicians are rarely chosen for intellectual capacity, so Trump is not the main problem.
The problem here is quasi-religious belief in globalisation and "free" trade. The small groups that reap huge benefits will hear nothing against it. And the many losers do not have a voice.
"Free" trade has lifted some from abject poverty into mere poverty and has also plunged an almost equal number into virtual slavery.
Tariffs are not the best solution to the issues here but they are the best solution on the table, if managed properly.
The one commodity that can and should be traded freely - information - is actually the most constrained under both the US and the world's vision of globalisation.
A year ago, I would have been laughed at for suggesting this, but...
Mrs. Clinton, please run for President again. I don't care how embarrassing it was to lose to Trump. More people stayed home instead of actually voting, and now that the public realizes what happens when they take things for granted, they'll show up at the polls and vote for you. You're the antithesis of Trump, and we need the opposite of Trump in order to bring this country to the opposite of where we're currently at.
“The resuscitated deal is undeniably weaker without the participation of the world’s biggest economy.”
The participants in the new trade pact will not have to worry about that much longer. As the Vulgarian continues to lead us into the realm of a two-bit player in the international community, the impact of the USA will become less and less, and China and others more and more.
1
Time will tell if the Republicans in Congress have a backbone now the Trump has threatened their reelection chances
2
How else Trump would prove that he is a man of steely will and a misguided trade warrior except for sticking to his stubborn plan for tariffs and barriers, even if it is disapproved by the allies and his own lawmakers, or proves self-destructive policy move?
3
"the United States’ closest allies"
"two key trading partners, Canada and Mexico"
Since when is Mexico one of the United States' closest allies? Somebody is confused in the White House, the NYT, or both.
5
I think it is considered an ally because Mexico as well as other Latin American countries have always backed the US in many of its foreign policies in the UN and helped in the last wars, for example there were Mexican and Salvadoran Military aiding the US in Afghanistan and Irak and there are a lot of trade deals and the US has helped Latín American countries to be more democratic although there is still a lot of work to be done by Latin American countries, I think only Chile I could say has developed into a strong democratic country followed by Mexico perhaps. So there is a long cooperation between Mexico and the US (and many Latin American Countries) so yes they are allies to the US they’re certainly not trying to engage in being hostiles to the US.
The confused one is you. The trade between the US and Mexico is immense. Mexico usually votes with us in the UN.
But the instinct to dislike Mexico is basically racist.
Or in Paris
Everything you buy in America is made in places like this (where the minimum wage is about $9 a day and there is no workers compensation) or in nearby countries that are even cheaper. Does Trump or anyone else really think American investors are going to start building factories in the rustbelt again, especially when Trump only has about 2.5 years left in office?
33
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 prices.
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
30
The problem with your example of course is that S. Korea put in place massive protectionist laws in place to grow their industries during those years and forced the S. Korean population to use, at that time, lower quality S. Korean made products instead of the imports that the population often desired. I'd argue that there were many other factors involved in why S. Korea blossomed economically while India took longer besides the one-dimensional perspective regarding protectionism, which in your example, I'm very skeptical of.
While I agree with your larger message, one disagreement in the context of Gandhi. Much of the India's socialist / protectionism bend is wrongly attributed to Gandhi. He had nothing to do with it. This was more of the legacy of their first Prime Minister Nehru. While Nehru was cultivated under Gandhi, he had his own thoughts on political and economical matters. In fact cornerstone of Gandhian philosophy was 'Ends Do not Justify Means'. Here our leader may claim to work for Americans true to his heart, which itself is up for debate, his means are certainly wrong.
Perhaps this will shatter GOP support. Though I doubt it.
9
I'm having a hard time deciding whether the steel workers in this photo op look happier than the Carrier workers in a previous photo op.
34
While their chief motivation may be their own constituencies, at least the Republican Congressmen and Senators opposing Trump are true to the principle of free markets and competition that the party has traditionally supported. Where are all the Democrats who should be cheering the President for protecting union workers? When the Democrats shifted their focus from socio-economic class to identity politics they left the working class behind; in 2016 they paid the price for it, and they will continue to. Even though, as the article notes, Trump's move may backfire on other industries that employ the working class and union labor, Trump will be able to make the very direct case that he was on their side. I think he's outflanked the Democrats again.
10
Ya well when we retaliation in a trade war that hugely hurts trade unionists making other products I think that support will evaporate.
Tarrifs are actually the opposite of a free market
What does he not understand about automation? For heaven's sake, we now have cars driving themselves, let alone building themselves, so to speak. The days of men in coveralls putting cars together by hand are not coming back, no matter where the steel comes from. This will simply drive the prices up for those of us who can afford it least.
35
Ok....good outcome because North America is exempt from tarifs and at the same time we ensure a minimum industrial base.
1
This is what happens when the only perspective one has is the inside of one's own narcissistic, short-sighted brain.
Zero impulse control, immediate gratification, damn the negative real world implications as long as it feels good and makes a segment of people like you... he has a demonstrable psychiatric disorder.
19
This is a joke. I don't agree with tariffs at all but just read that Canada and Mexico are exempt and other allies can ask to be exempted as well.
What this means is that the signing of this is a bogus photo op designed to make steelworkers think they will benefit from this in some way when the reality is nothing will change as allies are given exemptions.
24
I wondered about this.. Seems to me he is trying to have it both ways... I expect to see the exemptions start to pile up because the whole policy was a random thought bubble that popped into Trump's head...
Only Mexico and Canada, because of NAFTA, we already know what cards have Trump for Mexico, we're ready! bring it on!! we will retaliate like you can't imagine, and other countries will follow.....at the end.. USA will be begging for trade agreements with Mexico, and Canada..... we are used to the hard life, is not like things will change drastically down here... we won't even notice the difference... on the other hand... we have lots of options to retaliate Americas game.... FINALLY TRUMP SHOWING THE REAL FACE OF AMERICANS..
So he has exempted Canada and Mexico depending on how well they kowtow on nafta, this is his thing, same same the dreamers et al, knock the board over then hold the players ransom just to get back to status quo, make them beg, he is a terrible person
22
trump needs a "war" to distract from the Mueller investigation. He can't start a war with North Korea, so the next best thing is a Trade War
18
“Our factories were left to rot and to rust all over the place; thriving communities turned into ghost towns,” Trump
That's actually true. US steel companies failed to modernize in step with the rest of the world and now they are looking for government protection against the consequences of their failure.
But Trump exempts Mexico and Canada from the tariffs so the US steel orders going to Korea and Brazil will be redirected to Canada and Mexico, rather than to the US steel industry.
The only clear winners thus far are Canada and Mexico.
11
Wonderful countries, both of them. They deserve to win.
Hmm. Haiti could benefit by importing Chinese steel, adding a bit of labor and shipping the finished product into the USA duty-free under CBERA, a Reagan-era tariff program also known as the Caribbean Basin Initiative. So, any of you hard-pressed U.S. manufacturers facing higher steel cost, c'mon down... the weather's nicer too.
yipppeee! now kids in college studying science, engineering and math can quit and work in steel mills. They certainly don't need Calculus, genetics, and nanotechnology skills for the blast furnaces! Welcome back to the 19th century! China is concentrating on acquiring high technology, Trump with the help of Devoss is cutting education...yes indeed, that's what we call wining again! The future looks brighter every day under Trump.
35
Tariffs are nothing more that taxes. Taxes paid by consumers in form of higher prices. The govt gets the tariff money, the people get the shaft
19
Look at all the aluminum and steel workers in this photo who just lost their jobs, and will be living in their cars. They should be delighted to know that, once HUD and HHS are gutted, they can expect no social safety net to catch them, thus forcing them to pull themselves up by their bootstraps and such. Isn't this what you wanted, America?
19
I believe instituting tariffs is born out of illogical thinking. Canada and Mexico aside, to impose import tariffs on basically all other countries on the planet is not only illogical, it is stupidity. For example, we currently import large amounts of steel and aluminum from China. Nowadays, it is basically just as well made and significantly less expensive than the same materials made here. I am writing about now, and in the foreseeable future.
Another example is all the members of the E.U. Germany, France, Italy, Spain, etc. will simply reciprocate. We all know it is a global market now. The world has shrunk. NAFTA and other similar actions only reinforced this. It truly is a new world order, and everyone had better learn how to adjust to it. Many people (myself included) had a great thing for decades. It was only a matter of time before the world market opened up.
Look at the rust belt in Detroit and Flint, Michigan; or, Buffalo, NY. All along the Great Lakes.
President Trump is acting as though it is the 1960's and 1970's. That is born from insane thinking.
I have not not even mentioned all of the political implications. It doesn't take a genius to understand China (for example) will be less likely to impose sanctions on North Korea, who is probably the United States greatest threat.
If President Trump thinks he is going to begin solving economic (and political) problems this way, he is in for a big letdown, and so are all US citizens.
You can't have it both ways.
12
Presidency for the Trumps and Kushners, not for the people. So full of themselves they do not even show curtesy to the US Ambassador to Mexico. I am writing now to say be warned...your time is limited. Disgusting lack of respect for anyone but your family...this is called "amoral familiarism." And in so many words this fits recent immigrants, and probably the mafia...and now the Trumps. "Get out of my way...I am a Trump! and do not have to show anyone respect." Showing ignorance with every breath.
10
Exempting Canada and Mexico? Sounds like NAFTA to me. To instigate trading wars with the rest of the world is highly irresponsible.
4
Guaranteed, 100%.........this.....is....about.....images/photos.....
9
Well, let's see what happenes to the workers when prices go up. At this point I don't think the Repubs will bother to blame it on the Democrats. They've found that it's just easier to lie so they'll just deny that prices have risen and tell us that things are cheaper and we have more.
13
And the criteria Trump has established to measure economic success from implementation of tariffs is......? ...to be measured when?...against a baseline established when?
5
The rest of the world might want to consider putting a 100% tariff on Ivanka Trump products, Trump steaks, Trump wines, and Trump University certificates.
16
Haven’t those all gone into bankruptcy already?
2
I know at least the latter three you mention went out of business.
1
So, now we are making sweeping changes to trade policy on the fly. Where is the analysis, and the rationale for these changes? Who debated them and when? Oh I suppose swamp man gave us the rationale in the campaign based on his gut feelings. Or maybe his pal Vlad put him up to it. A little worldwide chaos to bring down western democracies. Check and mate.
16
This regressive nostalgia for the past leaves us blind. We should be investing our efforts to lead a technological future, ensuring that workers have the technical skills to live that dream.
13
Implementing tariffs due to security concerns is a red herring. If our national security was a stake, why would Trump favor one country over another based on favorable trade negotiations? He sees the world as black and white, and fails to comprehend the micro and macroeconomics complexities of world trade.
5
Dear President Trump,
Just need some info to try and settle a bet. Was it 250 or 350 million in Chinese steel you used in Trump Tower? Thanks.
Sincerely,
Feeling Beetrayed
10
Not relevant. All builders will be more likely to use US steel now, with a protective tariff on imported steel.
Better a rapier than a bludgeon. Or maybe not for Trump. He apparently prefer the subtlety of a blunderbuss when dealing with the complex issue of trade and macroeconomics. Punish everyone, including those in this country who are dependent on affordable aluminum and steel, rather than those who are actually responsible for dumping goods in violation of WTO rules. But then again, this is just business. Wait until he decides to take the same approach to thermonuclear war.
6
I remember the Trump campaign commercial, where a man stated that he was voting for Trump "Because Trump has a business plan." I was puzzled back then and to this day what plan?
Trump uses people, with the disguise of saying he delegates responsibility, because he doesn't have a management style other than bluff and bluster. He is all smoke and mirrors. He will walk back the Tariffs after the Pennsylvania election next week.
Finally, I watched the aging steel workers and the coal workers before, thinking why doesn't Trump unveil a education and re-trainings programs for these workers and their children, so they can have a future. Automation is going to continue to advance and eliminate manufacturing jobs. There is no turning back.
15
There will always be jobs making steel, but fewer jobs requiring more skills, as you note. No reason not to learn on the job and get paid a good industrial wage while learning. Such jobs will always pay better than making coffee at starbux.
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), otherwise known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was an act implementing protectionist trade policies sponsored by Senator Reed Smoot and Representative Willis C. Hawley and was signed into law on June 17, 1930. The act raised U.S. tariffs on over 20,000 imported goods.
The Act and following retaliatory tariffs by America's trading partners were major factors of the reduction of American exports and imports by more than half during the Depression.
Although economists disagree by how much, the consensus view among economists and economic historians is that "The passage of the Smoot–Hawley Tariff exacerbated the Great Depression."
8
The President cannot declare war without approval of Congress. So how is it, in a democracy such as ours, that one person can arbitrarily, unilaterally and, without support of Congress, take actions that will create a multitude of global trade wars leading to conflicts of various kinds with our trade partners, and ultimately harm our country and its people. All because he has a long standing, ill conceived and dangerous nationalist preoccupation that he wishes to shove down our throats - like it or not! Congress must act now before the balance of powers shifts even further from the scale our founding fathers carefully crafted.
7
Someone needs to tell Trump that trade
deficients or surpluses with other countries have minimal affect on our countries economic well-being. He is treating macroeconomic policy as if it’s a football game or realty tv show.
4
What a joke these guys already "impose tarrifs" on us. Now we have a strong negotiation point for our "allies".
The EU has a whole website for the tarrifs they place on our stuff http://madb.europa.eu/madb/euTariffs.htm
So do you. 350% on tobacco for instance. TTIP was meant to do away with most tariffs between the EU and the US, but your "genius" walked away from it.
I never thought I'd see the day when the almighty US of A would start to embrace the very same communist policies they fought for half a century. Quoting John Lennon: Nobody told me there'd be days like these!
3
Trump do something that the majority doesn’t agree with? What’s new there?
1
One of the few things this dwindling and isolated man (who happens to somehow still be president of the United States) has is his signing pen.
And he loves to play with it.
4
Most of the imported US steel comes form the countries that are now on the exemption list. He's basically caved on all his demands from last week. He just wants a photo op.
13
Why are we allowing Trump to squander the hard-won leadership of the United States?
7
1. If Trump was really itching to sign something, he could have put his David Dennison, I mean John Hancock, on that long-pending NDA and get that storm behind him.
2. About this entire tariff kerfuffle, the dog-and-pony show really, let the election in Pennsylvania next week get wrapped up. The tariff will all get rescinded based on some sage advice.
8
I do find it funny that GOP leaders in Congress are shocked, shocked, that a policy has been enacted with little thought about how real people will be affected. Aren't these the same people who didn't need to put any thought AT ALL into a $1.5 trillion tax cut? We all know the President has issues, but I am laughing out loud at the consternation being shown by the meat-axe dunderheads who now want to sound deliberative. Statesmen (and I do mean men) they are not.
9
So will the manner in which Trump came up with these tariffs embolden him to take similar actions in other areas? Sure there were other previous stupid stumbles, but this one is reported as coming off the top of his head. As in, "I decree!" We've got problems.....
3
I can tell you that growing up where I did in north central PA few things made me prouder than reciting a long list of products made within a fifty mile radius of my home. Practically anyone I grew up with regardless of age, ethnicity, race or income can tell you now, just as well could tell you then, that the reasons for that pride never subsiding while every single industry or business folded, had more to do with corporate disinformation here than unfair practices and competitive advantages overseas. Attempts to fill workers’ or citizens’ minds with notions that “we” were maligned by foreign competition are manipulative and wrong by grossly omitting mention of the role played by American corporate leadership in failing their own workers.
30
It seems trump signing ineffective sweeping new tariffs, is now a blood sport.
A very carefully orchestrated signing that has zero relationship to reality. When this mini tariff war escalates to making America less important, Trump will convince his dwindling base it was all the fault of everyone but Trump. If he could blame Obama and Hillary Clinton, that would be a bonus for Trump.
Workers by his side will soon realise that they will be yesterday’s news as Trump looks for further diversions. He would not remember their names this afternoon. Trump has zero empathy for anything except further enrichment of Trump.
Trump continues to be all show and no substance. Nothing has changed in nearly 14 months of Trump inspired chaos and dysfunction.
12
Our nostalgic President wants to return the US to the Gilded Age when steel magnates, oil tycoons, railroad barons, and wealthy financiers virtually ruled the country unchecked. The public be damned indeed. He needs to ask his advisors about the forces of history and economics starting with Teddy Roosevelt and monopolies. It would also be helpful to us all if he would try to grasp the concepts of competitive advantage and added value. Why make more commodities like raw steel when we have technology companies that can send a car to Mars and beyond? We must always look to the future, Mr. President. Forward is the only direction that time flows.
8
Mike, I fully agree with you and have wondered how we as a nation have failed to notice a global economy and its changing environment . The yesteryear of monolithic barons has come and gone, yet we as a nation grew out of that prosperity and thrived. This "I don't even want to say its name" failed in its education and bought his way into the elite from his father" . He listens to people who have failed to adapt to the changing economic environment and have been pushed by the wayside. I still cringe at the outcome of this election and I'm no snowflake. It doesn't take a rocket scientist to figure out this idiot has no grasp of anything that is not told to him by visual aids I.e. Fox nad friends. The next election is our only chance.
5
This is like having a drunk guy sitting alone at the bar spouting off his idiotic political ideas to the bartender, except this idiot gets to set policy.
I hope the fools who put Trump into office sober up, as the drunk guy sitting alone at the bar won't.
12
It's more like we have a drunk driver with delusions of grandeur who still thinks he can drink and drive. We as passengers can only sit and wait for the inevitable outcome of a crash and die scenario. It's truly frightening.
So it looks like Trump will be getting his unilateral trade agreements with each country coming with hat in hand and looking to make a deal. It's unknown territory because Trump doesn't have the time, people, and expertise to hold court in granting favors. There's all kinds of steel and recycled aluminum will not work in some products. It's will be just another mess that he will blame on somebody else.
8
Gee voters, could it be that all those rotting plants are from the 1950s when everywhere else in the world had been bombed into dust by WW2? Maybe that's why those factories thrived in the US in the first place. In which case they would expect to be closed once the rest of the world's factories were rebuilt. And those factories rebuilt overseas were more modern as well, so they ran better. Does this help explain why the rust belt is rusting?
19
I think this is a brilliant maneuver on Trump's part. With these tariffs, he now has individual countries clamoring for a better deal on their own behalf, thereby putting the US in a position of power on a case by case negotiation.
4
“Divide and conquer” is a lousy approach for working with allies.
4
Countries in the EU are not allowed to negotiate trade individually. But you knew that, right?
Germany is in NATO. The country has been working with the Americans for decades on NATO missions. The NATO Africa headquarters is in Stuttgart, the Americans still have several army bases in Germany, to name only Ramstein.
How can German steel be a threat to American security?
Why does this country not get an exemption like Canda?
11
It's not as important as Canada. Canada can cripple the U.S.A.. Germany can't.
3
LIzzy,
Canada’s industrial base is very much integrated with the US’s and the trade is well balanced.
4
The whole 'national security' thing is nonsense. Of course Germany should be exempted, as should Australia, South Korea and all other allies. In fact, these tariffs should never have been instituted at all. This was not a reasoned, thought out, analyzed, studied trade policy - this was a temper tantrum by Trump. What I don't want is for our allies to distance themselves from us because we were left off the list (for now anyway). That is only because Trump is trying to blackmail Canada and Mexico while the NAFTA talks are going on. To be honest, I was actually sorry we were exempt, because I really don't want to be on the USA's side anymore. I'm hoping our government sticks to its positions and doesn't fall for this bullying. We'll probably be joining you sooner rather than later.
Once again a half baked idea gets rolled out by this President.
If a policy require exemption after exemption it should never have seen the light of day.
This is just another example of the total lack of leadership of this President and the White House Officials who are either as stupid as Trump or are so weak they allow this horrible man to walk all over them.
3
I can hardly think of a single thing I have purchased recently that didn’t have “Made in China” written on it. American corporations moved their manufacturing to China to take advantage of the lower labor costs thus producing higher net profits and, consequently, higher stock valuations, benefiting the wealthier among us.
Trump cries “Foul!” by lambasting these free trade practices facilitated by American corporations themselves and launches a trade war which starts with heavy metals but will extend to other consumer goods. In the end, we will all suffer when our trade partners retaliate and American buying power decreases substantially. And investors lose valuation on their holdings. Lose-lose for all of us.
What an idiot we have as a president.
11
Lean your heads northward.
Listen! Can you hear it?
"Huzzah! Huzzah!" cry the happy Canadians as they pour out of their log cabins and igloos and begin dancing in the snow!
"Huzzah! We have an exemption (for now)!" they sing, as they link arms and dance around bonfires in the village squares!
Poor simple folk! Who knows what Trump may say tomorrow?
7
If the workers of Western Pennsylvania expect all the other American workers and consumers to sit back and let the price rise of steel and goods made in America from it, then they are sorely mistaken. We will all demand that the steel we buy and use is affordable, and the only way that will happen is if it is made by machines with a limited amount of human worker support. Tariffs will not reverse this reality for steel just as it has not for coal. You are being sold a false story to get you to vote Republican next week. Manipulation.
12
Australia has a trade deficit with the USA. So does that mean you are ripping us off? Of course not. President Dennison is a cookie short of the full packet. But why listen to economic experts when you are like a smart person who alone can save the United States and has the best words and who is the least racist person anyone has ever met in the history of the world or at least since civl war expert Andrew Jackson?
16
When will the Republican Congress grow a spine? The Constitution was designed to have checks and balances.
7
Earlier in the news today, 11 nations have signed a trade agreement that would replace the TPP. The US is a notable absentee. When that agreement goes into effect, what impact would it have on the US?
Requests from over 100 republican party lawmakers, and advise from experts and economists have been ignored.
When we see an imbalance or deficit on trade with countries, is imposing tariffs the only way to reconciliation? Do we not talk to each other?
If Canada and Mexico are exempt from the tariffs for now, it may mean that if the ongoing discussions with those two countries on NAFTA fail, tariffs would be applied to them.
Both Trade and Foreign Policy go hand in hand, which have helped our country in many ways. But, an action such as having to levy tariffs is expected to hurt us economically and with our relationship with our trading partners and allies.
Today, being day one of this news, we have all to wait and see what happens next.
3
My fellow US Americans, I think the transatlantic friendship with Germany and maybe with most of Europe will fade and finally die. Neither do we share the same values anymore, nor are we sure if we could count on the USA in case of an attack (Trump questioning the NATO) and now we do not even have a common basis for trade anymore (free global trade). China and Russia are rather a threat for us (are they really is the big question?)and they both do not share our values, however, at least they have been reliable trading partners for us for many years. Maybe we should teach more Russian and Chinese in schools...
13
Slow down a bit. The majority of Americans do not agree with the values of Trump.
Tom,
All Administrations and their policies are temporary!
Big problem - where does the US suddenly get efficient steel mills from?
At least our large aluminum mills are fairly recent, and can, with no alteration switch from abundant aluminum ore to recycled material.
But the steel mills? Most date from the early 1900s, have been shuttered or closed down, if not torn down for decades.
The existing mills are energy hogs and pollution creators.
It takes years to build even the smallest (and most efficient) mini-mills, designed to turn out products as required, with near no downtime for retooling to change from producing I-beams to machine hardware.
And that’s another problem: where will we get the tools to build the tools? Outside of higher-quality hand tools, most sre made overseas.
High-precision gears and similar necessary hardware is ONLY available overseas, from Japan and Germany for the most part - our closest allies outside of the UK, also a source of high-quality industrial equipment.
And we ‘ll also need electronics not made here.
Why? Overseas, the plants cost the same, but workers are considered a disposable and replaceable resource, wirkef until they die or are disabled.
I believe the tariffs are simply a way to impose a regressive tax on us all, same rate for billionaires and indigent, instantly.
This is evil, and not even law - I only hope Congress can be pressured into taking back its powers, and outlawing these no-thought snap decisions of POTUS, who never considers the effects of his spontaneous decisions.
7
In Germany workers are better treated than in the USA. They sit on the boards of directors of corporations, they have good health care and education and pensions. It is the USA who treats working people poorly.
1
You seem to think that workers in Germany, other Northern European countries and Japan, for example, are treated worse than our workers. That is not the case at all. They are treated better. They have strong unions, the leaders of which sit at the table with corporate executives, especially in Germany.
Even workers in China are demanding and getting higher wages and better treatment.
1
This was all about next Tuesday's special election for a hotly contested U.S. House seat in Pennsylvania's 18th congressional district, old steel country just southeast of Pittsburgh. Trump will now boast about it when he makes a campaign stop there over the weekend. He will now have something to boast about. But it's all theater, tariffs that sound momentous but also can be overlooked. All campaign theater — at taxpayer expense because Trump can't bear another humiliating defeat in a district that he won by 20 percentage points.
14
Watch out Canada, Nafta negotiations just got real. You will loose not only steel but dairy, lumber and access to govt. contracts. You better start playing hardball.
10
Dairy? Some of Trump's most loud-mouth supporters are in Wisconsin. Today we had that state's Governor tell Trump that the tariffs will hurt far more than they will help Wisconsin. Ontario itself is one of the most important economic-engines in the world - and a necessity for America's economy to stay stable. The states of Ohio, Pennsylvania, New York, Michigan, Wisconsin and Minnesota all border ONTARIO. Without that province, they'd collapse. Clue-in Georgian. Canada is more important than America's struggling steel industry.
1
'Watch out Hughie from Georgia". For starters, THIRTY-SIX US States sell more of their exports to Canada than any other country in the world. Put a 25% tariff on those and then see what happens to the jobs in all those states.
1
38 states have Canada as largest trading partner...if nafta fails millions of jobs will be lost in USA. We are now part of TPP s igned yesterday with a market of 500 million...we have a trade deal with Europe another 500 million. We know we have to diversify and are doing just that. TPP will develop supply chains...now if you are a member of TPP and you want to buy beef...are you going to pay a 38% tariff to buy from USA or will you buy from Canada with 0 tariff...pretty simple but will be effective I think in long run. By the way 60% of New York State and New England have 60% of power supplied by quebec...shall we go turn the switch off? Next valuable resourc3 is water and Canada has 20% of world s water...think about it before you think you do not need anyone else.
1
Numskull.
No Majority.
No Mandate.
Know Nothing.
9
What really bothers me as a Canadian is the the president is a consummate liar.
He tweeted "We have large trade deficits with Mexico and Canada" and yet the facts are that the US actually has a surplus of a couple of billion with Canada. He actually signed off on that too and yet he broadcasts lies and bases policy on it.
Little wonder the allies of the US have no trust left of this government and are either going it alone of forging new relations, some with countries like China. Just disgusting
17
He exempted Canada and Mexico only to bully us in the ongoing NAFTA discussions. I think we both should impose some tariffs of our own on the US - level that playing field.
6
Hi Carolyn, if I may, I suggest lobbying your politicians to impose tariffs on products from red states. Hit him where it hurts.
1
Thanks to the tax cut, the federal budget deficit will increase causing the US dollar to strengthen. Imports will increase, exports will decrease, and the trade deficit will continue to increase (Google “twin deficits”).
In a year or so the price of imported steel and aluminum in dollar terms could be close to the same as today’s prices, the new tariffs notwithstanding.
As long as “foreign-based” American companies can avoid paying US income taxes by keeping their US profits offshore indefinitely, no significant number of American jobs will be created.
For 4 percent annual GDP growth the number of jobs created per month should increase from 175,000-200,000 to 300,000-400,000.
3
Look for additional items to be placed on the list of goods and perhaps services for which tariffs are ordered. Then, look for the whole matter to be resolved with a new NAFTA, fairer to American interests, and bilateral trade agreements with our trading partners that are generally more favorable to our interests. Once that happens, look for China to be specifically and more broadly targeted and serious efforts made to better balance THAT bilateral trade agreement.
In the end, what we could have is a set of punishing tariffs for MANY goods and services, for which ALL trading partners are “exempted” or who enjoy vastly reduced tariffs … so long as trading agreements are GENERALLY balanced.
The left seeks to get in between Trump and those trading partners by demonizing this brinkmanlike effort without awaiting its consequences. Not a good gambit to interpose oneself between one’s own negotiator and negotiating adversaries seeking to defend their own interests. If he wins despite your condemnation, he’ll have a lot to crow about in November of this year and in November of 2020.
Watch: we won’t have a trade war.
2
Canada can play hardball with the U.S.A. - more than any nation on planet earth. You should always be thinking about your economic friends - not just foes. Canada is America's "best friend."
3
The Koch Brothers aren't "left" nor the wave of Conservatives who disagree with this grandstand.
4
For once Richard, you're right. There won't be a trade war, because Trump will back down next Wednesday, a new manufactured scandal will consume the news cycle, and the tariff kerfuffle will fade from our collective memories with no real impact. Except of course for Trump's billionaire buddies who are shorting the market...
6
What a campaign of misinformation the whole administration has embarked upon. Telling the public that it will have a minuscule effect on prices, that a can of soda will only go up by a tenth of a penny, or a car by $300. Well, if that were true, why do it in the first place? The truth is that Trump is playing a game of Kabuki theatre. If his real goal was to protect American jobs in manufacturing he would work to make US companies the most competitive and efficient in the world, not protect them by building yet another wall. If Canada or Germany can make steel competitively, why can't we?
152
It's estimated that for every job this policy saves in the steel industry; it will cost 50 jobs elsewhere.
1
Have you ever noticed how large your cumulative bill for a bunch of small purchases at the grocery store or at a coffee shop or on a credit card statement becomes?
That parallels the disingenuous statements by trump and his lackeys regarding additional pennies here and there - but the actual effect on your bottom line will be much greater than you are being led to believe.
And that's before the repercussions start hitting from our allies to trump playing it by the seat of his pants in hist latest sandbox...
1
You know who loves this more than the uneducated steel workers, Vladimir Putin. He is laughing his head off. He threatens our allies daily, what’s next? Targeting the EU, Australia and SK with nukes?
11
Everything is fine for Canada and Mexico, at least for this fleeting moment. As for the "assault on America" that the President cites as justification for his impulsive tariff escapade, he's right, of course, about the assault.
But it comes not from the EU, Brazil, India or East Asia, or even Canada or Mexico. It comes from Russia and it persists unchecked. It has nothing to do with trade and everything to do with Trump's election victory.
14
Maybe this will be a good thing. Maybe 60 million Americans who voted for this embarrassment need to suffer a little to understand the depths of their hate and ignorance.
17
Wow! Look at the faces in that picture. This is an Oval Office event which impacts the economy and national security. Barely a smile out of anyone.
How does Trump stay in Office?
7
Take a good look at Pence in the back. Trademark smirk that's nearly always there.
Some day, not just our country, but our world is going to have to come together for the sake of humanity. Yet many people in this country fail to see that global efforts towards a common good are extremely important. We need more respect for our neighbors, allies and especially for ways different from our own. We need to build bridges not walls. We need open and free trade not tariffs. Over the next 50, 100, 1000 years more workers will lose their jobs not because someone is taking them but because the world changes over time. This is accelerating rapidly due to technological advancements. Hopefully our future generations will adapt to these changes, live more and work less. In the meantime I'm embarrassed at the current state of our government: 15% congressional approval rating and the Presidents approval isn't much higher.
4
The Baby Boom generation cared about itself above country and future generations will pay the consequences. In a few decades we went from a prosperous America to one where, for the first time, it is no longer a given that American children will do better than their parents. It didn’t have to go this way, for example look at Germany which has fewer billionaires (per capita) but broader prosperity compared to the US.
Trump in all his wrongness is disrupting the status quo. But it maybe what future generations of Americans need if they are to join the shrinking American middle class.
6
My fellow US citizens. I am sorry to tell you but we in Germany have to look for a new ally. China and Russia may not share our values but at least they have been quite reliable trading partners for many years. The USA are not a partner anymore in any respect, neither in defense (Trump questions the NATO), nor in trade philosophy (tariffs), nor in values and ethics (it is still unbelievable for US how a (former?) superpower could elect this guy into office). And so a long friendship finally comes to an end, bye bye USA...
14
Anyone buying a car, stove, refrigerator, dishwasher, etc. will see a steep price increase, and if past trade wars prove true, many other goods sold to foreign markets will suffer. Agriculture is going to take a big hit. The Trump giveth (with his tax cut), the Trump taketh away. Welcome to Trumperica.
7
Chuck Schumer thinks Trump 'identified China as the right opponent much better than' Obama??! Wasn't it Obama who worked towards the TPP in order to make sure Asia was tethered to the US rather than to China? And which president was it who immediately reversed that wise geopolitical choice? Who else.
14
Which President? That would be the one in the clown suit.
1
One has to wonder, since Canada and Mexico are exempt from the tariffs, will this really benefit U.S. steel and aluminum producers and jobs in those industries very much. Won't importers that do not have long term contracts simply shift their purchases to suppliers from these countries instead of those affected by the tariffs negating much of the benefits sought by the domestic producers.
1
Trump is delivering and a campaign promise, and it's great! Our biggest enemy is not Russia, it's China. Elon Musk understands this. China has the most protectionist policy in the world. The Chinese market is set up to favor Chinese manufacturers by creating high tariffs on imported goods and not allowing 100% foreign owned factories. This should be obvious to anyone on the West Coast who shop. Most outlet malls and normal shopping have bilingual employees as well as signage. Chinese come to the US and shop only to return home and sell items to friends.
It's time the US make manufacturing in China less desirable and starve the dragon!
2
China can just put an export tariff on goods going to the US
4
Export tariffs sounds interesting. Since there are no foreign wholly owned factories, it would actually hurt China and factories would look for lower cost countries.
Look at Saudis Arabia, once the US produced more oil, less money flowed into the country. The US created China's wealth and can destroy it.
You forget China ha s a population of 1.3 BILLION people. Although exporting products is important, for many in that country, standards of living are increasing which is resulting in the creation of a larger and larger domestic consumer economy. They have been around for over 2000 years. The US cannot destroy anything.
This report tells me that Trump still has 15 days to change his mind on these tariffs. The PA-18 Congressional election will be held in 5 days, on March 13. I have this suspicion that he is pulling a political stunt here and that he might cancel or significantly roll-back the tariffs after the Republican candidate wins in PA-18.
9
Other than Mike Pence, Wilbur Ross and, mostly occluded, Steve Mnuchin, ... who are these people? Representatives of his weekly bowling league?
7
How much longer do we have to put up with this sick horror show. I see that Ryan finanlly woke up when Trump's recklessness will personally impact him. Can't say I'm sorry about that, Mr. "See No Evil" -- guess you can't just move on now, Rand Acolyte.
13
The so-called president KNOWS he brings nothing to the table - he's there to steal the table.
17
I wish news outlets would not use Ron Johnson as a source as he is one of the least informed and intelligent members of the Senate. In light of the fact that China accounts for only 2% of our steel imports, his statement is ludicrous on the face of it and just one of many in a long line of ridiculous pronouncements from this man, most recently about a "secret society" inside the FBI which was obviously a joke
13
Well, he's probably going to lose the Harley D. folks eventually over this once our targets slap a healthy tariff on their product.
10
Like Louis XIV our Traitor Trump has officially decreed that each nation on this planet must come crawling to his seat of power and bend a knee for an exemption. I.e., tariffs have not been raised at all. Just more bullying of allies.
13
So "for now" Canada has been "exempted". And Canada needs to demonstrate that we do not threaten the US "national security" which is (by the way) the only Constitutional ground under which the US president is allowed to order these Tariffs (not a "great" deal only for the US Under NAFTA). .
So how about we stop dumping you our maple syrup or we open Trump hôtels in Montreal and Toronto? Will that be sufficient to appease the emperor?
For god's sake, PLEASE deliver the world from this greedy narcissistic fool. We cannot vote, but you can!
28
Great...tariffs and the typical White House brouhaha that come with these weekly bright ideas is more or less a done deal for the moment...so, can we now GET BACK TO THE GUN DEBATE? Go Parkland!
8
Will someone please comment on why they believe this is a great idea? I really want to hear a good supporting argument to explain that maybe our leadership really has considered the second and third order effects of this decision. Isn't it part of the Strategy?
5
"Will someone please comment on why they believe this is a great idea?"
The best person to comment would be Trump, who is quoted in the article.
"I really want to hear a good supporting argument ..."
You would do better to ask if what Trump says is true, or how he could be rebutted. Here is a more comprehensive statement than what is in the article:
President Donald J. Trump will Protect American National Security from the Effects of Unfair Trade Practices
Issued on: March 8, 2018
https://www.whitehouse.gov/briefings-statements/president-donald-j-trump...
Will someone at least run the numbers on the revenue this may generate based on last year's imports? It seems pretty simple for now. 25% and 10% All the countries from whom we imported steel and aluminum, minus imports from Canada and Mexico. Then how will jobs be created and by whom. How will the revenue be allocated and to whom. I'm just a tad GD curious.
3
Somewhere in those tax returns of DT lies the explanation to this and a lot of other erratic behavior.
Thank you GOP members of Congress for collectively turning your backs on the entire nation. Shame!
13
This is the administration that is implementing every policy idea of everyone’s slow-learner cousin who has a solution to all the world’s problems after about 9 light beers at the family barbecue. Just ask him.
14
He's awfully brave -- with YOUR job.
10
Way to go Mr. Trump. Play the long game. Trade deficits DO matter, and it's long past time to remedy the problem. The outflow of currency from the United States is a long term strategic threat.
1
1) this will do nothing to change trade deficits
2) Why do they matter to you, when most economists do not think so
3) If protecting the metal industries is so important, why did the Trump administration let the WTO case against China lapse? Because it was brought by Obama? Remember, the US wins the majority of WTO cases, despite waht Trump claims.
4) This is the opposite of long game. It's a quick action that looks good on twitter. The long game would be to actually sit down with you trade partners.
9
25% and 10% adds costs to my grocery shopping bill. Well, plastic containers for me, does soup come in plastic cans. US Steel could do the right thing and keep their prices at the current level. But based on previous instances of greed watch them raise prices, nullifying any gains in market share.
6
This kind of protectionism can work, if clumsily, to build or rebuild industries at home. But most definitely not in the face of the tax plan just passed, which, combined with the current condition where companies can park massive profits off-shore, ensures any benefits will by syphoned away from the people it is most intended to help. This is more bait-and-switch theft in the guise of Rockefeller Republicanism.
5
Trump's move is brilliant. By imposing the tariffs on everyone, then offering to alter them for countries who are willing to improve the trade deals they have with the US, not only does Trump force these countries that have unfair trade practices to the negotiating table, he pits the other countries against each other in an attempt to get America's trade business.
Contrary to what all the alarmists think, the affected countries are not going to retaliate. They need the US more than the US needs them. They will scream and stomp their feet, but they will come to the table looking to make a deal - they will have to because if they don't some other country will.
1
"they will come to the table looking to make a deal "
they will not, or did you fail yo notice the number of countries that just signed the TTP without the US?
11
I think you'll find that most countries, who are already weary and wary of this Administration's erratic and dishonorable behavior will simply turn their collective backs on the US and forge agreements with each other. A case in point is the recent signing of the TPP, undertaken sans America.
May I add that as a Canadian, a citizen of a country that has traded fairly in steel, has always been there for you guys and has sent our soldiers to die in Afghanistan, I feel that to be treated by your President in such a shameful fashion is inexcusable. I am sure I am not alone in this.
For shame, America!
8
Guns are made with steel, right? So tariffs on steel will make guns more expensive, no?
Wow! A decisive gun control measure passed by Trump in spite of fierce Republican opposition!! People on the picture applauding are in fact relieved parents from Florida.
14
The Trumpies will still love him. They will show up to vote.
If Democrats and thinking people don't show up to stop him in 2018, the country thousands have fought and died to create and preserve will be lost. Sad to think all those crosses in various veteran cemeteries will be for nothing.
VOTE!
10
It is just his show off. I don't think it will be implemented like his most of the other executive orders. His "fat" signature does not make any point.
3
Just when did the Congress change the laws so that a president could decide who will pay taxes & how much? OR is this just another example of trump making his own rules?
This has to be some scheme of trump & his fellow millionaires/billionaires to make money. Why the deathly quiet from Congress?
7
If the US auto manufacturers built cars that the rest of the world want to own they need to build them. There are plenty of reasons why even Americans prefer Hondas, Toyotas, BMWs, Mercedes, Porsches, Audis, Kias, Subarus, Lexus, etc. Foreign manufacturers (e.g. BMW, Mercedes, VW, Toyota, etc in the US export more cars than all of the American brands combined.
If you build them and they will buy them. It's as simple as that.
5
I wonder how many in the picture actually realize what just happened. Trump is simply playing politics and using the tariff issue to improve his standing with red states like Pennsylvania. Other than that he could care less about the real effects of tariffs. As some economists have indicated, these specific tariffs may not cause an immediate problem, but the general policy statement they make will, as indicated by other countries ramping up for a trade war. So photo-op hand clappers, get ready for the overall negative economic impact this will have.
8
I have learned to expect Trump to say something shocking like steal and aluminum tariffs across the board. it was done under national scurity and Canada & Mexico are likely excluded. I believe both are defense supplier because you can't blockage a land border in times of war without conquring one side of the border.
So in the end perhaps China gets the biggest hit, and we end up buying more from Canada and Mexico. The tarriffs are being used to negotiate NAFTA II with Canada and Mexico and I would not be surprised if the current proposal was his intent since day 1.
When it comes to Trump, look at the end results, not the oratory theater. I think he may intentially present the appearance of being a loose cannon who may act irrationally while having a sensible plan all along.
1
The U.S. are ten times more populous than Canada. If every U.S. citizen buys $1 from Canada and every Canadian $1 from the U.S., you will be in a deficit position. We would have to buy $10 for your $1 to get an equilibrium. Trump is using world trade for very misguided and frankly doubdful electoral purposes. No wonder nobody wants him to visit us.
14
Yes, please ban him from Canada. And while your at it, tear down any Trump branded properties in Canada.
4
Sadly I fear i won't take long for most people to realize that economic realities can't be neutralized by the mere utterance "fake news". Increase the cost of basic raw materials and it WILL show up in the bottom line for consumers.
8
Michael, I fear it will take much too long.
1
I am glad to see that Canada has an exemption from this tariff for the present. Knowing little about Mexican steel and aluminum production and products I suppose that a Mexican exemption is a good thing also. Strict country of origin rules in NAFTA (remember NAFTA--thing thing Trump wants to blow up?) guarantee that US, Canadians and Mexican imports and exports between each other keep careful track of who ultimately made the products in question. Steel and aluminum products therefore won't somehow 'leak' into Canada or Mexico market from elsewhere and then somehow enter the US tariff free.
But what of other fair traders in these items? There ARE a lot of these: Germany, Australia, Iceland (which makes a lot of aluminum), etc. So they just get stiffed?
7
I cannot help but wonder what the influencers for "wiggle room" consideration will be. Hopefully this will not become a scandal involving backroom deals to be wiggled out of the tariff.
Trump has been a critic of globalization since the 1980s, floated the idea of tariffs before he became president, and now has actually been president for over a year.
Despite all that time to prepare, when the time came to roll these tariffs out we got a week long roller coaster ride of wondering exactly how and to whom such tariffs would be applied, and room for still more changes added into the announcement. In other words, despite literally having years to prepare for this moment, on a topic he claims to be passionate about, Trump still didn't have a firm plan in mind as little as a week ago.
Wow.
6
"Trump has been a critic of globalization since the 1980s, floated the idea of tariffs before he became president,"
This has always been the most hypocritical part of this economic life. His buildings were made with cheap chinese steel, and he and Ivanka have no problem with their clothes being made abroad. He has proven by his actions that he does not care about the American workers, it's a mystery why they think he does.
6
Trump and his Trade Tariffs seem to be okay for the stock market. To countries other than Canada and Mexico Tariffs may hurt if their major export to the US is steel and Aluminum.
1
Trump has no idea what he is doing, his party advised against it, and he still did it. Hopefully his action will cause more people to vote against the GOP in the mid-term elections.
6
Well, this could be an interesting economical experiment, or a repeat of the same 1930's experiment with the same result (ie the Great Depression and WWII).
Possible results:
1. Steel prices go up, consumption goes down, steel plants close, steel unemployment goes - everyone but trump is blamed.
2. A trade war starts, the global economy tanks, unemployment goes up, wealth (except for the 1%) goes down - everyone but trump is blamed.
3. Nothing happens. Economics follows the first laws of physics - for every action, there is an equal and opposite reaction, see 1 and 2.
4. Importers reducing their pricing to maintain or grow their market share. Prices drop, US steel mills close, etc.
What is really funny, if the Federal Gov't had move forward with an infrastructure plan, then a "Buy America" requirement could have done more for the industry that this. But after the massive 1% and corporation tax cut, the GOP does not want to balloon deficit further.
Anyway, a small bet: half the people in the photograph not wearing a suit will be out of work in 18 months.
7
The screeches have not subsided since we took Canada and Mexico off the tariff list. Where are the cheers of hurrah from those who so vehemently insist that our foe Russia, who influenced our election, and China who manipulates their currency and subsidizes it's exports, are finally being firmly dealt with?
No cheers, because they are not being firmly dealt with. The US had a WTO case against China pending, and the Trump administration let it lapse. As others have pointed out, this won't hurt China very much at all. But it might hurt some allies (South Korea, EU).
I don't see anything about Russia in here at all.
4
So Canada and Mexico get a pass , maybe Europe and Australia to follow.
That means the benefits that Trump anticipates for steel and aluminum factories will be minimal particularly if steel and aluminum users shift their sourcing to Mexico and Canada to contain costs.
The steel content in an Autoobile is $200 plus this may be passed on to consumers but unlikely as the Auto Industry is stagnant also they have to be aware imported compeitition featuring aluminum and steel content free of tariffs will ain't an compeititive edge
The upshot will be manufacturers will suffer reduced profits and seek to offset this by greater efficiency , automation less jobs.
There is a better way to handle these issues, impose an infrastructure tax on all imports, it will generate $1.6 trillion over 10 years to be used incrementally on the infrastructure with a strict proviso we use only American sourced labor and materials.
Benefit more jobs, build strategic industries , renew our infrastructure without adding to our debt , minimum disruption to the economy.
Any better ideas?
1
This isn’t worth the paper it was printed, as are most things Trump does. If it is supposed to ‘bring back’ the US steel industry, exempting the countries that export most of our steel undermines that.
Does Trump know steel traffics have been tried before, GW Bush tried it, in the not too distant past. It didn’t work then and his tariffs were more thought-out than the Trump’s.
The steel workers should be looking for new careers in any case, if new steel mills will open, most new ‘employees’ will be robots.
4
Hard to say how this will shake out economically, but one thing's certain: we can't rely on the hope that Trump will listen to levelheaded advisors and experts. If anything, he can be relied on to make the wrong choice. I don't know about you, but it gives me chills.
4
his administration would not implement the Russian sanctions voted in by Congress, who will push back and not implement these tariffs?
4
There are at least 3 separate types of tariffs, each with different goals:
1) Punitive tariffs, aimed at specific trading partners, as a penalty for unfair trade practices.
2) General tariffs, applied evenly as a revenue-raising alternative to income, estate and corporate taxes
3) Protective tariffs, meant to promote and protect a specific industry, business or product, without necessarily singling out any specific trading partner for penalization.
Rates of general tariffs should start low and increase slowly, so as not to miss the peak of the Laffer curve, with regard to revenue collected.
The proposed tariffs on steel and aluminum appear to be #3, protective tariffs meant to nurture a domestic industry which has withered due to intense international price competition. It is not a punitive tariff, because no specific partner is accused of dumping or of any other violation. Starting with a low tariff rate of 10% is advisable, to avoid creating too much of a disruption to natural market forces. Thel 25% initial tariff rate seems a bit bold; on the other hand, even a 1% tariff rate would probably trigger all kinds of reaction. This should be interesting.
If a depression is your idea of interesting.
3
I'm not too worried about a trade war. The USA is somewhat reprisal-proof. Our top exports to China are:
1) soybeans $15B
2) aircraft $8B
3) cotton $3.4B
4) scrap metals $3.2B
China will want to fulfill all aircraft contracts, until they complete reverse-engineering them. Our other top exports to China are those of a developing nation: agricultural and metal commodities, which can be sold on spot markets to avoid retaliatory tariffs. Economic depression is unlikely, due to the dual stimulatory effects of the tariffs we levy: the revenue collected will allow reduction of income tax rates, and the industrial activity stimulated by the revival of long-moribund industries, such as steel and aluminum ingot production.
1
The Tariffs on Steel and Aluminum is only going to allow American producers to increase their prices and produce more profits which they will use to invest in Automation and Technology to replace workers. That is and always will be the goal of capitalists, reduce labor costs to increase profits.
If we really want to help the workers replaced by cheap steel we should help the workers, not the investors. Capital is free to flow to wherever it makes the greatest profits. It is not so easy for the workers to adjust.
4
"The potential for an exemption is likely to trigger a tsunami of lobbying and cajoling as foreign governments pressure...".
I've heard that the Trump hotels and restaurants are taking reservations. Select tee times are also available.
Trump is truly a brilliant businessman.
3
Speaker Paul Ryan had urged the White House not to impose these tariffs. "Urged." Doesn't Congress have the ability to write legislation preventing or overturning these tariffs? Just like in several other situations that raise their (false?) ire, Congressional leadership has rolled over and abdicated their role.
6
Did anyone really think Trump would do the hard work of serving as President when he can just provide his reality show version to entertain his base?
The ineptitude, fecklessness and negligence will eventually catch up with him, but by then the con-man will already have gotten what he wants.
Heck -- with $50 Million gain from doubling his Mar-a-Loco membership fee, free golf trips every weekend, the success of the Trump properties he can fill with government contracts, the payoffs and the huge tax savings, one might expect Trump has already gotten most of what he wants.
But I suspect he's going to need to keep this up quite a bit longer before he's paid off all his debt to Putin and friends.
Not that they won't continue to yank his chains.
Godspeed, Mr Mueller!
25
"ONLY I CAN FIX THIS!"
"ONLY I CAN FIX THIS!"
When will the hysterical shrieking stop?
3
25th amendment now!
8
President EGO has done it again, showing the world that there is no one dumber then him.
His own party members and people educated in the field told him he should reconsider it but once you've put your foot in your mouth all you can do is choke on it.
Way to go EGO!
11
From the party of small government and free trade comes the continual clown show of ridiculousness.
9
So. somebody who's filed for bankruptcy six times just went out and made a major economic decision all on his own? Ooh boy.
24
Putting it like that makes it even more alarming. A bankrupt controlling the prosperity of the world! Frightening.
3
why is he still President?
14
Mr. Trump's "big brain" is exceeded only by his amazingly poor judgment.
8
Executive Orders have become dangerously undemocratic. Once again one guy is making globally-altering decisions against the will of his own party, our allies, and most Americans.
Either democracy isn't working, or our collective stupidity was never envisioned by the writers of our Constitution. What is the fix for a moronic autocrat with executive powers?
I pray we all survive long enough to vote him and everyone like him out of office.
14
Steel is not the future....a little research will tell you that the US steel industry is a victim of its own greed
Trump is Mr. Tough Guy, because that is all he knows
7
Trump just trashed the economy. This is one he cannot blame on President Obama. He inherited a strong economy, and between the GOP monster tax cuts for the rich that added $1.5 trillion to the deficit and this trade war, the overall economy will be hurt.
Bringing back the coal industry; bringing back 19th-century steel through 19th-century tariffs is simply stupid. The problem is China not overall trade.
The absolutely bogus claim that this has anything to do with national security is exposed by the official letter from Secretary Mattis who wanted to not harm allies, who said the military only needed 3% of the national output of steel and aluminum, and who said that there should be interagency cooperation. None of this happened. So if the Secretary of Defense does not think that national security will be helped by sweeping tariffs, he should be listened to.
The Party of Stupid has struck again.
15
Trump's America first hooey will end up with America alone. The US is losing stature and clout faster than it's losing money, no mean feat.
10
How do you spell impending Recession: trump!
6
Thank you, President Loony Tunes!
You’ve given us Democrats another population demographic to target with the same message: suburban voters &/or those people who voted for Trump thinking he would be good for business and the economy.
The 2018 message for Democrats is simple: vote us into Congress to be a check on Trump. The Republicans are spineless and are too scared of Trump to fulfill their constitutional role of checks and balances.
Funny that Republicans only think about the constitution when it comes to guns or when the President is Democrat. With a Republican President they care not about spending, deficits, debt, free trade, states rights... any espoused principle or anything really. Hypocrites all!
12
"If Republicans in Congress are serious about free trade, they can most likely get enough Democratic votes to override a Trump veto of free-trade legislation."
2
So...he gets to sign his name and fell all self-important for most of...today. What will tomorrow bring?
2
More of the same: not-so-slow slide in autocracy. One day we will wake up to the danger.
The pro-free trade elements of both parties - the Kasichs, Clintons, Romneys, Obamas of the political spectrum - need to cleave themselves from their insular and retrospective partisans and get this country back on the path to global economic and institutional leadership, or watch the American moment slip away forever.
2
It is all in American hands in November.
1
This is another example of how this presidency is like being infected by a really bad virus that we hope will go away in time, but recovery from this sickness (and illness is how it feels) will take years. The longer we have it, the worse it will get, and we can only hope it doesn't kill us.
6
Virus? Is it not more of a parasite, slowly destroying it's host?
3
The Dotard is playing with the United States. He thinks it's like his failing produce-nothing fake company which, as sole owner, he controls completely without accountability to anyone. Were he a CEO of a legitimate corporation, he would have been fired about 14 months ago, with everyone on the Board wondering how he got there in the first place.
WE, the PEOPLE are the Board of these United States. It's time to fire this Tweeting maniac and restore our country to civility and rational governance. VOTE!
7
Trump is correct about tariffs. Other countries impose tariffs on our goods and dump products on the USA. We have a massive trade deficit with Germany. If Germany wants to trade selling cars to the USA for us selling them bourbon, I will take that deal. This is how you negotiate, with strength.
I am all for impeaching Trump, he is horrible, but I agree with the tariffs.
2
It's about we had a leader willing to stand up for our country. Thank you President Trump.
1
Trump has yet to meet an institution he couldn't bankrupt.
7
Steel is in Pittsburgh, but Hershey's is also in Pennsylvania. And think how much aluminum goes in to all those cute little wrappings for trillions of Hershey's kisses. Then think of how much more your new car will cost--but if you solace yourself with those cute little kisses, you will be paying more for them too.
3
I am reminded of Maya Angelou’s great quotation; “when someone tells you who they are, believe them.”
Donald Trump told us who he was when he opened his campaign in 2016. His supporters cheered; the Fourth Estate swooned, hearing the cash registers ringing up views and clicks. They all knew he was a fraud but they were after entertainment and ratings. We got a whole lot more—and less.
Now look what we have: a “president” who’s shoved us closer to the lip of the abyss of financial chaos. Happy now, Trumpistas?
5
Why the props? Are the steel workers concerned that something will fall on their heads in the oval office? Truly, we can all trust that these folks are real steel workers even without hard hats.
6
So the imposition or lifting of tariffs, or back and forth, is entirely dependent on Trump's whims. Dependent, that is, on what he reads in the NYT on any particular morning, or what the goofs on Fox are saying? No business can ever rely on the U.S. for anything if it has to be conducted from tweet to tweet.
3
Well look on the bright side. Many of those howling MAGA cappers will soon have lots of time to volunteer for Trump’s re-election campaign because they won’t have jobs to interfere with their days much longer. One European auto maker has already hit the brakes on expanding a plant in Tennessee.
7
My guess is that this is ALL a response to the Time article titled "Donald Trump's Forgotten Man" in the Feb 25th issue. He sees this a fulfilling a campaign promise no matter how few will ever benefit from the tariffs or how many will be hurt. His narrow-mindedness is astounding.
This is a seriously unbalanced man. He creates policy on a whim, then has to walk it back when his advisers explain the policy's shortcomings to him. This is what happens when one doesn't believe in anything except hogging the spotlight.
And the news media plays right into his hands. His actions dominate the media. It seems some outlets focus on him 24/7. His tweets are broadcast almost as soon as he spews them out. His every utterance is picked apart by a 'panel of experts' as soon as they are spoken. His past is studied as though it was an ancient civilization with 'experts' explaining why he does this or that.
And this is exactly what he wants. To be the center of attention. If we really want to bring him back to earth, let's ignore him! Don't give him what he wants. Force him to act like an adult. Then give him the attention he earns.
6
Isn't it obvious by now? Our President is complicit with those who want to destroy our morals, our decency, and our country. His own record has always been one of callous disregard for anyone who trusts him except his own family, but I'd bet nobody is safe if he is backed into a corner. Just watch.
3
Does he always bring people into the Oval Office after signings? Or was this a cynical ploy at a propaganda tool for the elections? Or both?
"Does he always bring people into the Oval Office after signings?"
Presidents often do that. Do a Google images search for "trump signing ceremony" and "obama signing ceremony".
50% tariff on Stormy Daniels - Outrageous!
1
Another day another Trump act to deflect from another problem. This time the "Stormy" kind of problem.
1
SPOILER ALERT: When these tariffs backfire, then Trump will blame Obama and Hillary.
"I inherited such a mess I had to do something. Believe me."
4
Wow, taking America back to 1930 and expecting different results.
Too bad what happened when she tried protectionism then.
Signed,
History
4
Is this legal? Where's the authority from Congress?
And there's that kindergarten pose, again: "Look, Mom, I've learned to write my name," cries the blaring Trumpet.
3
I see Chuck Schumer once again decided his job was to be a father figure attempting to educate Trump on policy, rather than trying to set clear, contemporary vision for the country.
It's awful to say Trump is better than Obama on China. Obama had TPP lined up and ready to go, which was a brilliant check on Chinese power and expansion of our Asia-Pacific regional alliance and leadership. Instead, we leave Asia as China's playground and get tariffs applicable to NATO allies and a "we'll see" on Canada.
Schumer "out" along with the rest of those clowns at DCCC that cannot build a forward-looking party with the ability to think long-term.
2
He just following his pattern of making the most noise about something, grabbing headlines and commentary from pundits, talking tough and tougher, then changing direction, backing off, backing up and confusing everyone but his loyal base who only care about the tough talk and posturing about helping the workers who lost their jobs to automation and free trade, but are going to blame the foreigners and the media for their plight.
I just keep hoping he and his base get their comeuppance soon.
4
I hope the voters understand that the massive global recession that follows from this decision of Trumps will be entirely the Democrats fault.
4
The massive recession won't happen until Trump is long gone from office. W's big tax cuts and deregulation for corporate America took 7 years to kill our economy. I expect Trump's massive tax cut and corporate deregulation to do the same sometime in the next 3 or 4 years.
Then the Democrats will have to come in and clean up the mess again.
Even if Trump's economic policies crush any jobs that still exist in the Rust Belt, his supporters will not blame him. Even if the economy tanks and unemployment skyrockets, his supporters will never believe that it stems from Trump's actions. They have their shibboleths - the evils of trade imbalances, the greatness of tax cuts, the dangers of brown people, the need to legislate "Christian values" - that Trump completely reflects.
The true-blue Trump supporters were programmed for their unswerving beliefs by 30 years of right-wing talk radio and the Fox Network. If Trump didn't have their blind support, he wouldn't have any support at all. But that's still enough to knock at least five Democratic Senators out of office in November.
4
The contraband coming into United States on a daily basis cause for concern. It's imperative to disimfranchise,the plot thickens to disallow actions taken for granted. The government should outsource security for white collar crime protection and restore humanity.
1
In reality, Trump is wining the PR war. Democrats have once again failed to come up a narrative to win. If Trump has taught anyone anything, is to NOT play it safe.
3
All this irresponsible behavior on part of 45, eventually, will set us back and surely behind China.
President Trump, simply, has no good ideas to run a government.
Coal country has been suffering for years, and it is not because policies, but because things have changed fast and crying for coal is just not there.
He seems to invent problems that aren’t there, and in his mind (now remember, this is a one man show) he finds the faux solutions, then points out how clever and a genius he is.
“Only I can fix it.”
It is surly a very unusual situation our country finds itself in.
5
I grew up in the heart of steel country the Mahoning and Shenango Valleys which are north of Pittsburgh. Steel died in 1985 in the Shenango Valley. An EF5 tornado hit Wheatland PA and ravaged the steel mills down to the concrete. They were never rebuilt. Thousands of steel workers in PA were devastated. A once thriving area has diminished from a population that is a quarter of it's original size. The town I once lived in has a population of just around 10 thousand. The population was close to 30 thousand when the mill closed. Most of it's residents have relocated or have died.
I had to move because of lack of job opportunity. If Trump thinks that stopping imported steel will suddenly restart a dead industry then he's oblivious to reality.
Helping 150 thousand misplaced steel workers is just a symbolic political act. It will hurt more than help. In a recent news article the tariffs would kill one million jobs instead of creating jobs.
Sorry Mr. Trump, the 2016 election is over. We are tired of your shenanigans with you governing. We have absolutely no representation in Washington in congress or executive branches. Foreigners are mocking us instead of emulating us. We were once the envy of the world now we are envying the world.
No tariffs are the answer for these 150K. It's what President Reagan did in retraining for current industry.
J
11
Questions for the NY Times
If the tariffs result in more job losses then gains, will you spend more time reporting the losses or the the gains ?
The US is , roughly, a 20 trillion dollar a year economy (GDP)
That is 20,000 billion dollars a year
The tariff will amount to roughly 10 B a year
How on earth is something that is, literally, less then 0.1% of the US economy worth all this fuss ?
If the NY Times and other media devote huge resources to something that is 0.1% of the US Economy, what are you not covering, like HC premiums, or how the EPA is reversing 50 years of environmental protection.
4
You have no idea of what the ripple effects, the exponential economic detriment, that these clueless protectionist measures will have globally.
China is very pleased to have this clown as POTUS. They are very happy to lead in this vacuum that DJ leaves in his wake. He is Caligula.
If the purpose and legal justification of the tariffs is for national security reasons - protecting essential industries - then exempting some countries and providing variable tariffs for others (Australia?) is inconsistent. Not that Trump cares. But would it not be a reason for the tariffs to be overruled by the WTO or US courts. I do think the tariffs are a terrible idea.
3
Got to wonder how much this will affect a $550B trade deficit when we import about 30M tons/$22B of steel (with most coming from Canada) - it may knock off only 2%.
Also wonder if this is a precursor of more tariffs. To make a significant difference, he'd have to slap tariffs on consumer goods from China, which will add cost to most everything we buy. I don't think it will take long for Trump to reverse this as the effect on US businesses becomes known - especially small ones that use a lot of raw material (like rebar companies). Trump's primary reason for tariffs is likely to get cheers from supporters at rallies in metal producing cities... like if he heads to Pennsylvania before next Tuesday's election.
1
NEWS RELEASE BYLINE: "Mr. Trump defied opposition from his own party [Republicans] and protests from overseas on Thursday as he signed an order imposing stiff and sweeping new tariffs [TAXES] on imported steel and aluminum. But he sought to soften the impact on America’s closest allies with a more flexible plan than originally envisioned."
___
Raise taxes on those in the rest of the world who want to do business in the US; the impact on the individual consumer we be minimal at best and absorbed with continued job and wage growth.
Since 2012 six aluminum smelters have permanently shut down and more than 90k jobs have been lost in both the aluminum and steel industries since 2000. Bringing back some of those jobs would not only help THAT economic sector BUT the peripheral retail sectors as well; build communities.
Where is the downside?
There are certain rare earths produced only by China. If we are cut off from those, a host of products that depend upon components that require rare earths cannot be manufactured.
2
> The actions we are taking today are not a matter of choice, they are a matter of necessity for our security
What are the security risks that Trump is talking about? I'm asking this question earnestly, this is not a rhetorical question. Does Trump consider a reliance on foreign steel dangerous in the event of a major war?
It would be helpful to have the blanket statements from Trump validated. For instance what is the real situation with our national security if we import steel? Have we really been tremendously taken advantage of? How have we been treated so badly over the years by other countries.
Since the president doesn't provide any details or qualifiers to these statements, I would expect the news to fill in those blanks and help educate the public. Lord knows we are not going to get it from the administration or congress.
2
I had to dig a bit but thought I had read that Trump used Chinese steel for some of his big projects. Bingo:
A Newsweek investigation has found that in at least two of Trump’s last three construction projects, Trump opted to purchase his steel and aluminum from Chinese manufacturers rather than United States corporations based in states like Pennsylvania, Ohio, Michigan and Wisconsin
http://www.newsweek.com/how-donald-trump-ditched-us-steel-workers-china-...
5
In addition to the general problem of tariffs and harm to our steel and aluminum using industries, there will be more specific problems borne of Trump's character and temperament. Given how many countries are excluded and as to which he's claiming flexibility, there is great potential for more trouble. Trump is the type to use such leeway to punish or reward and will hype every disagreement or accord with the subject countries (whether directly related or not) as a reason for retaliation or reward. His ego will lead him, and we already know his judgment is nil. Yet another proof that the man has no business being president. This is not how it's supposed to work.
1
The same man who said of health insurance that it was too bad people had to pay so much for it, because they didn't get a good return when the policy was cashed in--and said this at the height of his so-called battle to defeat Obamacare, showing that he hadn't a clue what he was doing--now imposes his "view" of trade policy upon the world. He hasn't a view. He has personal needs, and the event horizon of a gnat.
1
After bragging about how close China and the US are he sides with NAFTAs Mexico and Canada. Wait until he is hurt by China s retaliatory trade tariffs and export cutbacks. The price of military steel and cars should skyrocket also as the steel industry is not modernized enough with manpower or speed. A war would hurt us as we would never meet the production standards of WWw. IMHO YMMV
As a EU citizen I simply see that the average American will pay from his/her own pocket the extra markup on steel price created by this tax. And steel is everywhere : a car, a knife, a fork, your garage door, in all home appliances .... Any hope that wages and salaries will increase to balance that ? nope.
-
By the way, it's interesting to notice how Trump's communication is very similar to North Korea's Rocketman : when you look at the photo, the only difference in the composition is, the folks applauding behind the Supreme Leader, do not wear military uniforms ...
For Trump, aka Steelman, it's probably a psychologically unconscious yet mimetic way of defying the world by playing with fire.
1
Comparing this administration and north Korea is a bit too much, if not extreme, dont you think ?
Since the Prez is invoking national security to justify the tariffs (otherwise this would be Congress's wheelhouse), they can be challenged in the courts on the basis that he is implementing them against some of our most loyal allies whose ability to supply us with goods is part of what comprises our national security. It will be interesting to see if any one brings the suit.
Rubio says sugar tariffs are necessary for National Defense. So definitely steel and aluminum are.
1
If Canada and Mexico's steel and aluminum is cheaper than American steel and aluminum, and their competitor's prices go up due to the tariffs, Canada and Mexico could wind up selling us even more than before the tariffs were imposed. This could be a boon for Canada and Mexico, and do nothing for our domestic producers.
2
“Mr. Trump singled out Australia as an example of another country that could be excluded, citing the trade surplus that the United States maintains with Australia, which imports more from America than it exports to the country.”
So, Australia should now be allowed to impose harsh tariffs on US products following Trump’s reasoning? And if the USA don’t comply, what’s next? Australia imposing a blockade? Yeah, I would love to see that.
1
Notice he waited for the exchanges to close. I'm surprised this didn't happen on Friday after 4, and I suppose he must have plans to head somewhere to play golf on Friday otherwise he would have waited until then.
The kindergartener is in charge of the elementary school, formerly known as the White House. Come November, when the dire economic consequences of Trump's reckless and uninformed tariffs have been largely felt by the voters and the electoral tsunami hits, it is not beyond reason that Democrats may historically enjoy veto-proof majorities in both Houses of Congress.
1
Business planners like to have some level of certainty behind the assumptions they make on major investments. With Trump they are looking at maybe 6 more months of him being able to pass any legislation before the midterms take away the gop majorities in the house and/or senate and 30 months to his administration until he gets voted out of office or sooner if he quits or is impeached (both not unlikely). Lead times on major steel and aluminum contracts can be 24 months or more and standing up a new smelter can take 5 years. Since his executive order on tariffs is already virtually in a lame duck status, it’s practical effects will be limited to increasing cost for some US purchasers and reducing profits for some foreign suppliers as they try to retain their customers until the next administration repeals trump’s executive order. So in the end, it’s mostly US consumers that pay for Trumps folly.
Could we pass a bill requiring Trump to take the first week of high school economics? Then, if the teacher could tweak the syllabus to explain the actual causes of a trade deficit in the first week...
Does a fool know he's a fool? Does he believe that NAFTA should only benefit the USA? Is he aware that he kowtowed to the Chinese on currency manipulation? Does he truly think that some nations may not retaliate? Of course, he doesn't think he's a fool; he's a certifiable genius, and maybe he's certifiable as to his mental health as well.
20
He doesn't care. This is a show, and he's winning the show. Simple as that--he's playing with other people's money, just as he has his entire life--right when his daddy gave him hundreds of millions of dollars.
Hi supporters hate you and want to hurt you, so he puts on a show of hurting you, and they love it.
This tariff is very stupid. Not only is it not targeted toward the real culprit, China, it also divides our other trade partners into favorites (Canada, Mexico and possibly Australia) and everyone else, the not so favorites, including Europe, Japan and South Korea - thereby alienating them, at the very moment we need them allied with us in standing up to China and Russia. The rate of destruction wrought by the Trump administration, and its enablers, is accelerating. Will the GOP now stand up to Trump, or will it keep its head down to ensure support from Trump's base in the mid term election? Sickening.
17
We will not believe any statements regarding Trump's flexibility until we hear first hand from Stormy.
14
“President Trump has identified the right opponent — China — much better than both the Obama and Bush administrations did,” Senator Chuck Schumer of New York, the Democratic minority leader, said on the floor.
“But I would say to you, Mr. President, don’t swing blindly and wildly at our foe, China,” he added....
[ Good grief, China is no "foe" of the United States. This is a ridiculous and offensive comment by Senator Schumer. ]
14
Have a good time, America!
26
Got any room up there? I got to get out of this place.
3
We have lots of room up here. You can come up here to small town Canada where we once had a pulp and paper industry, all gone. Practically giving away homes, and only a few miles from cheap beer in Quebec, and pot soon to be legal.
I think that those who were "excluded" need to march along with their own trade plans, leaving the US to create their own, in their own way. t-Rump is not one to be negotiated with. He is a pervasive liar, cheat and thief.
35
"more flexible..."
The word Trump wants is "faccid".
9
Donald is insane, and he is going to get us all killed....but not before bankrupting the nation.....post, rinse, repeat. Nothing is going to change, we haven't hit bottom yet, and then it will be too late
35
This is stupid. Steel has been largely dead in Pittsburgh for 30 years and the city has moved on--successfully--into other innovative areas. Those rusted steel plants are not going to magically open up and start producing steel again. Pittsburgh has transformed itself into an innovation hubs, working on self-driving cars and other major innovations with our great local universities, including Carnegie Mellon. Nobody is sitting around whining about "where did steel go?" That was a generation ago, and it's just not an issue now. We're fine. He lied to people when he was campaigning here. The 1980s called; they DON'T want Trump back and we don't want him either.
88
I grew up in a steel town in W. PA. The mills died in 1985 when 2 major mills pulled out. Thousands lost their jobs. Most of the residents relocated to different states. One thing that Reagan did that helped was job retraining.
Steel companies are going to spend millions of dollars to rebuild these rusted mills. 2 mills in Wheatland PA were flattened by an EF5 tornado in May 1985.
Trump is doing this as a smoke screen from the current news of Mueller's investigation.
4
You're lucky you don't have to "help revive coal".
It sounds very much like another tRump con job. There has to be money in it for der trumpster. I don't trust that self-serving joker.
Time will tell.
Unless you understand economics?
2
Hopefully those soon to be laid off Kentucky bourbon workers know something about working in a steel mill.
43
a tool to reward and punish those who enrich or don't enrich the grifter international crime family
14
What a total wimp this guy is. Does he ever do the amazing stuff he "promises" to do. He was going to tear up the pea patch. But no. Ridiculous really. I expected him to get tough with the world that has "assaulted" the U.S. No way. I would not think of voting for him again under these circumstances.
4
Why did you expect a chronic liar to keep his promises? People told you he was lying; why didn't you listen to them?
2
Next Trump can help save the typewriter industry.
90
It really is just plain depressing to watch a mad man wreck out democracy, our alliances and our economy. And Republicans continue to do nothing to save our country. Special prosecuter Mueller . . . please hurry up!
37
Putin will be very pleased.
Trump is killing two birds with one stone: Weakening our economy and destroying relationships with our allies.
Wake up Republicans!
72
If this stupidity happens—
* Other countries will retaliate. For example, an EU official called Trump’s action “stupid. But we can do stupid. We have to.” EU is readying steep retaliatory tariffs against produces exported by Republican states, e.g. Harley-Davidson in Wisconsin and bourbon in Kentucky.
* Electrolux is the largest home appliance manufacturer in Europe, and was poised to spend $250M in Tennessee, and buy domestic steel—now frozen:
https://www.usnews.com/news/best-states/tennessee/articles/2018-03-03/el...
* Domestic aluminum/steel producers will charge higher prices to domestic manufacturers, boosting inflation and further messing up the economy.
* US companies that consume steel/aluminum (and employ 40X the US steel/aluminum producing companies) will move production elsewhere and re-import components and finished products with no tariff penalty. E.g., Harley-Davidson consumes steel and aluminum to make motorcycles. They can move frame and engine production to Mexico (reducing costs but lowering US employment) and re-import those components.
I think Trump just melted down when Hopey the Work Wife announced her departure, and had to DO SOMETHING, ANYTHING!
14
Trump authorizes tariffs ... except not really. We'll target someone. Or maybe not. Call us in a couple of days.
What a comfort to know that this country is being run by emotionally unstable cranks, dilettantes and tarot card readers.
When does this bad acid wear off?
14
"We've been treated so badly over the years by other countries."
Uh-huh. How awful of them to sell us the steel we wanted to buy.
26
For his buildings.
I’ve seen more Creativity watching
Children at the Beach Playing
IN THE SAND
than this grab bag
6
Is Trump under the influence of Stormy ? Is she in League with Putin?
5
I love this!!! McConnell's and Ryan's "Chamberlain" appeasement doctrine with the White House with place them in the forefront of modern history with McCarthy and Nixon! By standing around and doing nothing, showing no push back, and allowing this to happen, as well as everything else they have allowed to happen, they have brought about their own disgrace!
McConnell, the guy who allowed Koch Brother revolution to take place, is getting his due!!!! Hopefully when the iron foundry workers learn, as their coal mining brethren will learn shortly, Trump is not their friend!! Not their contemporary, and surely not their savior!!! He is and surely will be taking all of them, Ryan and McConnell and the rest of the conservatives, down the tubes!!!!
REALLY JUST COUNTING THE DAYS UNTIL THE MID-TERM ELECTIONS!!!
19
The buggy whip factory owners & workers should be thrilled.
Taking tariffs back to old school economy...... & not 1950’s but 1850’s
9
Every...single..day...more chaos and more ineptitude.
American citizens are now like children living in a home with abusive parents. Trump being the abusive parent, and the Republicans the enabler parent. The children with no control, or power, only stress and abuse.
The only way to get out of this mess....is to VOTE OUT the Republicans in 2018.
37
%Suzanne ..EVERY...LAST...ONE!!!
2
"sparing Canada and Mexico..."?
How can a respected paper like the Times report this statement with a straight face?
Nobody is being "spared"! That's right out of Trump-speak or Huckabee-speak! The whole idea was an absurd notion, concocted by the willfully malignant mind of Trump.
Reporting that Trump "spared Canada and Mexico" is a little like reporting that Attila the Hun "spared" Rome or that Putin "spared" his rivals! All are absurd!
And besides, Canada, has no need of being "spared" by the likes of Trump!
More like we in the USA hope that Canada, Australia, Japan, and the Euros spare US in the USA the wrath of being snubbed once too often and don't resort to the same sort of pay-back economically, diplomatically, and/or militarily (the next time the US embarks on another ruinous war!)!
12
Chuck Schumer has been a traitor to Democrats for years. He just proved it by his support of Trump:
“President Trump has identified the right opponent — China — much better than both the Obama and Bush administrations did,” Senator Chuck Schumer of New York, the Democratic minority leader, said on the floor.
It's going to be hard to work for contribute to Democrats in 2018 with a Trump supporter and Obama hater like Schumer running the show.
2
Mr. Trump, I grew up with Superman. I knew Superman. Superman was a friend of mine. Mr. Trump, you're no Man of Steel.
13
Ron Johnson is a joke. Remember his short-lived opposition to the tax cuts, which he then supported as soon as he got his 15 minutes of camera time were over.
2
As usual, Trump cannot think big (or even "bigly") but only small, like his hands. To curry favour with a few voters in his base rust belt areas, he is willing to jeopardize the economic stability of the majority. To save a few steel jobs (assuming that even happens) he will risk far more. Typical of someone who can't see two moves ahead - even on a checkerboard - let alone on a global chess game. SAD!
3
Something like Baccarat, but I'll get back to you after another nap, the name of Manafort and Rogers' project they don't want us to detect. I dream in justice.
I still say that Stormy would be a step up as president compared to Trump.
5
Anybody familiar with the term "dog and pony show"? Anything to divert attention from Stormy Daniels and the other hundred or so Trump scandals.
4
Trump signs a tariff to market to his base that the rest of the world can work around. Best case, no one is hurt. Worse case, mostly Americans are hurt. Way to go, Dotard.
2
Meeting Adjourned
Stormy Clouds
on the Horizon
1
The nation as a whole may suffer untold economic damage so that a few favored individuals can gain even greater advantages. Once again, the once "Grand Old" Republican Party, through its chosen leader, has shown us they have become in fact the Party of Greed, and ultimately, the Party of Lies!
2
Let the inflation begin!
3
Yet another reason that Trump will be re-elected in 2020...
3
What reason are you referring to?
He won't be the party's candidate.
Trump didn't learn anything at the Wharton School of Business. In fact, is he even capable of learning? He just ignores anyone who might have a clue and forges ahead with whatever comes into his self-involved brain.
It is extremely ironic that a man so sensitive to criticism is setting himself up to be eternally ridiculed and scorned in history books. Of course, since he doesn't read books that probably won't be a problem for him.
6
Lovely. Let's just route all decisions through Trump so he can make willy nilly choices about everything from who can bring a bullet-riddled elephant back from Africa to whose aluminum gets taxed and whose doesn't. Everything will turn out fine with no unintended consequences because, you know, he's a stable genius.
5
Yet another divisive measure. No good can come out of this.
1
Either it's a national emergency or it isn't. If it is, why make exceptions? Because it isn't. It is clearly aimed at some "enemies." But we insisted through GATT, Trips, and WTO, that "most favored nation" status must be given to all. We have savaged others who attempt to treat some nations unequally. It is the foundation of our foreign economic policy. Besides being simply bad economics, it is empty headed. And though he thinks this will help with his base, he is too blind to see that while it does in fact cement a part of his base, it will by November 2018 and 2020, shrink that base also. He will have a stronger and smaller base. Good.
3
Sorry to break the news -- you are not guaranteed to work the same job as your father (or mother) did. Resource extraction and processing ebbs and flows and we (workers) have to as well -- finding other opportunities when necessary. Trump can't control these ups and downs and is already causing great chaos and instability by trying.
3
The most stunning statement by Trump was using President Mckinley's economic policies as a rational for using tariffs....seriously, does Trump know this is the 21st century and Mckinley governed in the 18th century.
3
Great. The problem is a glut of steel from China. We import only 1.5% of our steel from China. Trump’s solution: put at tariff on all imported steel. Could my republican friends who voted for Trump please explain the logic? My small liberal elite brain can’t comprehend the wisdom coming down from on high.
Great. Now steel worker jobs are protected. However for every steelworker job protected we put 80 other jobs at risk who depend on steel. I wonder how the guys at Caterpiller are liking the idea of increased steel costs. I guess the needs of the few out weigh the needs of the many. I knew my Star Trek knowledge would come to good use some day.
3
This is the part that scares me "the authority to raise or lower levies on a country-by-country basis and add or take countries off the list as he deems fit." Thereby allowing him to get what he wants from other countries using this order as a means of intimidation or threat. That's not savvy businessman negotiating tactics, that's extortion. And he won't be thinking of Americans' best interests, he'll be thinking of his.
4
Following are the top steel exporters to the United States with their corresponding percentage of total U.S. steel imports:
1. Canada 16.7 percent
2. Brazil 13.2 percent
3. South Korea 9.7 percent
4. Mexico 9.4 percent
5. Russia 8.1 percent
6. Turkey 5.6 percent
7. Japan 4.9 percent
8. Germany 3.7 percent
9. Taiwan 3.2 percent
10. China 2.9 percent
11. India 2.4 percent
Source: Wood Mackenzie
I fear that every action this frightening president takes is self-hatred transferred into revenge on the functioning world. I miss my country. We may never be able to recover. Being in my late 70s, I take no comfort that I may not live to see the end of all in which we believe.
33
I have to agree with you Nancy. I also see trump taking out his anger and revenge by his actions. This does not bode well for this country.
Way to go Trump - you just single handedly brought about the reality of inflation. Wall Street just loves inflation.
12
I'm sorry, but his Sunset Blvd tweet claiming he's the only star in the galaxy is enough to tell me it's time for his close up/send off. Someone tell Brutus his scene is up in five.
16
“We’ve been treated so badly over the years by other countries,” Mr. Trump said during the ceremony.
U.S. GDP is 25% of world GDP, and U.S. population is less than 5% of world population. That suggests the U.S. is prodicing and consuming about 5 times its share of the world's Stuff. So where's the unfairness, Mr. Trump? Certainly not in the aggregate income of Americans. Amost certainly in the astounding maldistribution of income.
19
Adding and dropping countries on the day he signs it... so well thought-out.
25
Does anyone know if the tariff affects orders already placed, but not yet shipped?
Tariffs hit goods when they are brought to US Customs, when they are landed.
“We’ve been treated so badly over the years by other countries,” - we, from the other countries, wonder how we could do that under rules and contracts made in agreement and corresponding with the U.S.
9
I’m not sure our country can survive three more years of this presidency. We have been a great country, but every move 45 makes brings us closer to ruin.
12
We should not have had to endure more than a month of the Trumpet. What has happened to the American people?
I may consider moving to Venezuela soon.
Within a week all the Republicans will line up behind tariffs.
5
Trump will never resign nor will he be impeached with Republicans leading Congress. Our nation's only hope is a groundswell of ordinary citizens that will work hard to get out the vote in November. Call your state's Democratic Party and join. Contribute your time and money to elect intelligent and reasonable people who vow not to be bought by special interests. Call your Governors, Secretaries of State and members of your Statehouse and demand paper ballots to protect our elections.
11
He just likes being a big shot. He asserts power just because he can. I think this is his way of getting back at any real or perceived slight he has ever experienced. It's a "I'll show them who's boss" moment. There are limited ways to fix this mess. One is Robert Mueller. The other is at the ballot box in 2020.
24
I thought Trump was invoking the loophole of national security for the tariffs - American steel and aluminum production had reached such a critically low point that national producers needed assistance. If he is waving tariffs on Canada, Mexico, and maybe Australia, then he is clearly using another criterion. I can't see now how the Americans can now win when this goes before the WTO - but maybe that's the point, and Trump wants an excuse to blow up the WTO.
5
Part of the problem is that we cannot determine either the benefits or the costs of of the tariffs. So, hypothetically, if the tariffs generated a couple of million new jobs without substantial countervailing costs to our exports and our position in the world's economic, political or economic sphere then there is an argument in favor of these tariffs. Unfortunately, I think that the tariffs will generate very few jobs (maybe a few thousand or so) because the steel mills and the aluminum producers in the U.S. are so highly automated that they can have large scale production without large scale employment.
2
The merits of the plan aside:
"'to avoid unintended negative consequences,' the Republican lawmakers said" - Since when have the Republicans wished to avoid negative consequences? (Remember the tax overhaul, for example??
"More than 100 Republican lawmakers sent a letter to Mr. Trump on Wednesday imploring him" - When was the last time the Republicans implored Trump not to something dangerous or poorly thought-out?
"harm American consumers" - Since when have the Republicans been concerned about consumers?
"furious lobbying and a burst of last-minute internal debates and confusion” - Par for the course?
6
This order clearly has no purpose whatsoever except shoring up the blue-collar portion of his voter base. Steel and aluminum manufacturers are salivating at the prospect of being able to raise their prices (temporary windfall), so they will probably be good for a few $M in campaign donations. Other than that, there is no sense or substance to the policy, and it has a huge potential downside.
6
How convenient that this announcement comes a couple of business days before a heated Pennsylvania 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 - which located in Steel Country. 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. He is panic mode - not to mention desperately trying to divert media attention away from Mueller's increasingly fast moving investigation.
4
So Trump says he's going to be "very flexible" on tariffs which suggests that he will be open to persuasion by foreign governments and investors. So how would that work? By looking carefully at the merits of each case presented in hidden off shore bank accounts, no doubt.
6
I'm not a fan of Trump, but we need Tariff. If other nations charge Tariff on our exports, we must charge Tariff on their imports. It's as simple as that. Also, the raw material cost in anything we consume is only a fraction of the price. Do the math. 25% or 10% increase in steel/aluminum is typically less than 1% of the price. If German charges tariffs on our car, we must charge tariffs on their car.
Hold on to your dislike of Trump. It is true that other countries have been taking advantages in our free trade model. They charge us Tariff, but declare a trade war if we do the same thing? What do they think we are? It's your and my taxes and future unearned salaries that fuel the growth of other countries especially China. I know most of us just don't like anything Trump - but let's think objectively on the Trade/Tariff.
2
You are lacking in the basic understanding of the topic. Why impose tariffs on all nations when little DJ already knows that China is the only country dumping?
Trade wars are very bad for the world economy. Maybe Trump's handlers from Moscow have forced his hand and are making him do this.
Hmm ... Trump can raise or lower tariffs at will. I'd love to see how that correlates with countries that Trump Inc does business with.
4
If he has any rationale at all, Cadet Bone Spur throws Tax and Tariff Bombs at the US Economy for the reason hamlets were flattened in the Vietnam War he assiduously avoided: He had to destroy it to save it.
There may be 150,000 steel workers in the US who may have a short term gain from this, but there are millions of workers in American industries that work with those metals who will be laid off or put on short shift as their basic materials become much more expensive, leading to loss of sales and decreased need for their product.
4
Strange logic used by the supporters of administration
to justify the tariff. According to them the price of
imported steel will go up by 25% and consumers will
hardly notice it. That would be right if minuscule amount
of steel is used in the product. It is not. The rationale
is based on flimsy assumption. Trump doesn't care.
He wants to get support of steel workers in Ohio,
Wisconsin and Pennsylvania. He is in a campaign mode
to get republican majority in mid term and then his
own reelection. Economics doesn't matter. After the
washing machines, solar panels, steel, aluminum, the
next will be avocado,Canadian bacon and Chinese
noodles.
2
As usual — he talks tough then backs down. Where are the teeth in tariffs that are “flexible”? Isn’t this just a variation on “most favored nation” status? This waffling will only add more confusion and chaos, which seem to be the only way he knows how to act.
What a confusing message we send to the rest of the world — not a way to encourage our allies or shore up our reputation.
It makes me wonder what, exactly, is the “art” behind this deal.
4
Don't worry...Canada will continue to enjoy "most favored nation status" only as long as we knuckle under in the NAFTA negotiations. Those negotiations have proven to be tougher than your President anticipated and won't get any easier with this tariff threat hanging over the proceedings.
This is schoolyard bullying and isn't going to work. Canadians are polite for sure...until we aren't.
1
There has been almost unanimous opposition to these tariffs by anyone with applicable knowledge. Trump does not understand simple economic theory, even with plentiful amounts of historical data to demonstrate those basic principals. This move has worried me more than any other policy decision by this president. The regressive social agenda offends and concerns me, but these tariffs have the ability to decrease every citizen's purchasing power. The resulting reduction in consumer spending and confidence could turn a minor market correction into a financial crisis. Please, whether your a Democrat, Independent, or Republican demand pragmatism and analysis-based decision making to this country's legislative and executive branches.
4
Here is a better idea:
Revive the TPP and remove all import taxes on democratic countries.
Impose 25% across the board tariff on ALL imports from China and other authoritarian regimes.
4
Reverse psychology might work best with Mr. Trump since he thrives on being a contrarian. When he suggests some harmful policy just go along with it and play it down. If he doesn’t get any attention he will probably move on to an issue he thinks will cause an uproar. Use the same tactics, go along with the idea and drop the discussion. Quiet isn’t his thing.
2
A few days ago, Donald Trump declared that on Thursday the world would find out who were the "real friends" of the United States. Now, we find out that, as far as Donald Trump is concerned, the United States has no "real friends." Mexico, Canada, and Australia can be classified as "casual friends" because the treat of tariffs still hang over their heads. By default, the United Kingdom, the European Union, South Korea, and Brazil, among others, have become the enemies of the United States. Great move Donald.
3
Let's at least watch how far this goes before the wheels on the cart fall off- there is a very slim chance this may yield some positive results for the country and our economy.
1
I would like to restore some of the pride and work-ethic in our country. We are soft. Let's get back to work.
If the tariffs were a matter of national security, how come there was no one from the NSA, CIA, Pentagon , Joint Chiefs , State or Congressional Armed Services committees at the signing ? If Ross, Navarro and Mnuchin represent the front line of our national security, we are not safe.
2
So let the storms begin this will be interesting how this will all be explained away. Alternate facts only exists in Trumps and Trumpettes world. But there is the sticky point of the real world and real facts and these will collide and soon. Who will blink first and how much damage will ensue.
We are obviously relieved in Canada to be exempted for now.
But the trade war is going to hurt anyway, not directly, but because of its impact on the US and world economies.
Unless all if this is only for show, who knows?
If its not, it will be interesting, at least on some level, to watch the great reality TV star become the first leader to ever win a trade war.
Or not.
97
This is Trump! Canada and Mexico are exempted IF they play nice (according to Trump) on NAFTA. Mexico might also have to throw in a Wall. Trump is a bully- doesn’t know how to negotiate without threats and reneging.
1
They only exempted us both because they'll try to use it as leverage for NAFTA talks. So either we lose something there (like, say, the lumber war between Canada and US) or we get the tariffs anyway after we don't concede in NAFTA. Retaliation is the only way to go, I'm afraid. EU's move targeting rural America seems the way to go: harm the heartland of red states just before harvest season, after which follows the election. Too bad we had to come down this road though.
1
Oh, it will still hurt Canada... you still build cars. Ask any Uniserv member.
Trump's cheap talk is making a lot of people rich! Unfortunately, none are members of the working class; they are the beasts of burden that bear the cost and cruelty of his decisions, the objects of the fraud he unleashes in their names!
First, the tariff on steel increases prices by 25%! Despite Wilbur Ross' can demonstration, the price of farm goods, flying, driving, and building will rise. Steel is a major component of farm tractors and combines, airplanes and cars, the girders that are the structural frames for tall buildings. Tariffs don't help America's economy--they help special interests--the few are not the many--America is weaker and poorer--even as it produces 70% of steel used in-country domestically!
Why is Trump raising prices on steel imports, price increases by tariff that will make all steel more expensive? Why is he literally undoing the tax cuts for working America by raising prices through taxes? Because he doesn't want to give the little man a break! He views ordinary Americans as pawns, to be used. His order creates no new jobs, builds no new factories--but he calls it a win.
Wrong! It's hard to lose bigger than this! His formula of protest, punch, and punishment is a slap in the face of Americans' common sense. It's ransom and another government giveaway, yet another abuse of power that he thinks is his privilege in spite of Americans feeling the self-inflicted pain! He thinks imposing his misguided will on other countries is a win!
3
Sounds like NAFTA.
3
Doesn't sound like that up north. NAFTA is in the middle of high tension negotiations between the three countries. Trump is giving Canada and the Mexicans a temporary "break" in order to then intimidate them absolutely during negotiations. And the WHOLE WORLD will be cheering for the USA's opponents. A new anti-Americanism is forming that can only be ended if Donald Trump is removed from office. Republicans who now oppose this move will now start to think about the possibilities of re-election in midterms this fall. Lots more of them will be retiring soon because there's "little or no chance" of winning their seats.
2
I was being sarcastic. He hates NAFTA. Sigh, it's not possible to put a tone on text.
2
In other words, Trump has no idea what he wants, other than to create the perception of doing something.
38
Well, at least history will have another case study on the effects of tariffs...
21
Newbie tariff question here: what keeps China from just selling their steel to someone in Canada, who then dumps it in the U.S. market as tariff-less "Canadian Steel"? Apologies if I'm behind the curve here.
21
Reasonable (and common) question. What keeps both Canada and Mexico from doing that are the strict 'rules of origin' at the core of the Nafta deal, which inclues technical tracing mechanisms to ensure that while US, Canadian, and Mexican steel and aluminum products are treated equally and preferentially within the 3-nation market, while tariffs are applied to the same products imported from non-Nafta countries, such as China. To cheat and pass off Chinese steel as Mexican or Canadian would be prosecutable fraud and would jeopardize legitimate manufacturers in those countries, so it doesn't happen - not worth the risk. But that's not the point anyway about state-subsidized Chinese steel - it doesn't come into the USA market as girders or sheeting or similar bulk or 'raw' products, but rather as the steel incorporated into (for example) Hyundai cars and LP dryers, and similar high-end finished consumer products from other countries. How does the Trump Tariff affect those imports? It doesn't. And as for actual semifinished steel and aluminum imported into the US, China isn't even in the top ten suppliers.
3
Nothing that I am aware of but I am not too concerned. China represents about 2% of our steel imports. I am more concerned about the impact of relations with the EU, Brazil, and South Korea.
2
Nothing, unless the Canadian government acts to prevent it.
Where are the giants that served this country during the mid-twentieth century? Where are the George Marshalls?
13
They took the last train to the coast . . . .
1
Typical Trump - suddenly there is a "a growing in our steel and aluminum production that threatens the security of our nation" that only he has the foresight and fortitude to solve.
13
... "a growing crisis ..."
I expect the tariffs will apply to Canada and Mexico when they don't give Trump what he wants in the NAFTA renegotiation.
22
The difficulty here is presidential lies. Steel and aluminum and national security? The steel and aluminum companies in a state of crisis?
18
Of all the gin joints ...
But to your point, steel and aluminum are a heck of a lot more relevant to national security than "global warming."
They really are a matter of national security, which is why Harry Truman unconstitutionally seized control of steel factories that were experiencing strikes during the Korean War (drawing a rebuke from the Supreme Court, but then, when the strike resumed, forcing the steel companies to the bargaining table by threatening to seize the factories under a process provided by law). The thing that makes this tariff silly on this front is the fact that in WW III, the likelihood that were going to be fighting the major exporters like Canada, Australia and Germany is pretty darn low.
SARAH HUCKABEE SANDERS at the White House podium earlier today: "Because President Trump views our trade imbalance as a true national security emergency, he has decided to focus our new tariffs on the E.U. Therefore, the countries of Luxembourg and Montenegro will receive notice of our intention to levy 40% taxes on all their cheese imports, as of next month. And as far as the recent fake news stories on his involvement with an actress 10 years ago, President Trump authorized me to issue the following statement: 'Stormy who?' Thank you and there will be no further questions."
16
Cheeses from Luxembourg ? Really ? :-)
1
After almost three years of this, I believe that I am now fluent in Trumpese.
“We’re going to be very flexible."
Translation:
"I made an impromptu major announcement almost entirely off the cuff and with almost no warning to any of my advisors. I had not given this any serious thought, but I always though it sounded good, and it sounded really good in my last meeting before the announcement was made. We don't have any specifics or details and are basically going to just wing it and see where it takes us."
181
"Trump Promises to Be ‘Very Flexible’? Hmmm, according to Stormy Daniels his flexibility is very limited.
30
This is just drama, mostly improv. We are living 24/7 in TRUMP! The Miniseries. Hoping it doesn’t turn into a second season,
15
I'd like to the first season cancelled suddenly.
2
The consequence of the Trump Administration are going to extend beyond the limits of most current American's lifetimes. This isn't great, again. This is unlike anything ever before and hopefully ever after.
9
Allies? When he's done we won't have any allies left anywhere in the world. I knew he was going to be horrible, but he's worse than even I expected.
33
All show, all the time. Please ignore the man behind the curtain, and listen to the Great and Powerful Oz. The way Trump drags out his decisions to gain the maximum attention for himself is nothing short of nauseating. He needs less news coverage, honestly, until the final decision comes down, however long that takes.
8
The president is a lying about what has happened to the steel industry. I lived in Buffalo in the 1970s and steel was dead then long before China. He will destroy our country with these tariffs that he harks back to the 1900s. Our economic allies are already leaving us.
33
Interesting.
Smells more and more like a publicity stunt by the Donald to get Pennsylvania voters all fired up for next tuesday.
1. He gets his favorite thing , publicity and front page headlines. ( not bad for him that it overshadows Stormy, or Peggy Peterson or whatever.)
2. Gets the steel workers and their relatives in the 9th Pennsylvania district all worked up for tuesday.
But in total really nothing, Canadian and Mexican metas exempted. “Allies” exempted.
China. Pays, but their actual imports into the USA are tiny, 1% or less of total.
Gamed by Don the Cons reality show again. A ratings bonanza!!
12
First washing machines and solar cells, now steel and aluminum. And so it begins . . .
12
All this will do is make things more expensive and offend our allies.
12
President Promises to be "Very Bribe-able" on Tariffs
10
Brutish and impulsive, a denier of reality, science and climate change, with too much power to abuse, Trump will surely be, historically, the worst president ever to occupy the White House.
16
Good to see Comrade Schumer joining the Repug's on the need to stick it to China. Guess these guys don't shop at Walmart, and buy only items hand-crafted with pride in the good ol' USA. Apparently he buys into Trump's concept that "trade wars are fun and can be won". Examples from history, please? Sorry, that would mean having to do research or even, horrors-- read history! Would take more time and thought than bombastic tweets from the toilet. We're letting a third-rate grifter make rules based on nothing but whim to run the world's largest economy!
Anyone seen the free market lately? Capitalism? Any adults in charge? Hello?
9
Trump just laid the groundwork for a trade war. He is targeting Europe for some strange reason. His comments about reciprocal taxes on trading partners is very ominous. For example, a few nations produce vital materials like rare earths from China, cobalt from the Congo, and lithium from South America. If these nations jack their prices up or withhold supplies, we are in trouble big time.
If this gets out of hand, it could push the world into a global recession.
Even if Trump is correct and we have been taken advantage of, starting a trade war is not the way to improve conditions.
Don't shoot yourself in the foot. Trump just did.
Why is he going after our allies in Europe?
22
He is going after America 's European Allies on orders from Putin.
2
Big ugly neighbor! NAFTA thug. He's trying to intimidate his nextdoor neighbors. 'm Canadian and nobody on planet earth "knows" the USA as well as we do. Without us and our economy for the last 150 years, America's economy would be a fraction of what it is. More than $1 billion PER DAY crosses the USA's northern border - more than any nations in world history.
Canada can play hardball with the USA - very nasty game. And the American business world doesn't want to thumb their noses at their country's BEST FRIEND. Thirty million of Canada's 36 million people live within a two and a half hour drive of the U.S.A.. The economies are intertwined. GO CANADA GO. Don't give into his mean-minded tactics.
13
And don't forget, US Commerce Department figures show that the US/Canada trade balance is in favour of the U.S. Go figure!!
2
Most of America agrees with you. We hate Trump as much as you do.
2
The Apprentice is at it again! Let's watch! Go David Dennison!!
5
Here we go again with Freedom Fries. If this doesn't go well (and what trade war has) just remember, it's Obama's fault.
1
He promises to be flexible.
That's nonsense.
DACA, gun control and now trade tariffs.
What he really means is that he's flexible as long as he can cut a "deal".
If his terms aren't met he'll resort to another tweet storm.
His usual targets: Crooked Hillary, the Democrats, and the 400 pound man sitting on his brain.
3
"Flexible" means he will make accommodations for his crony capitalist "friends", rubber-stamping their waiver requests while eating his two scoops.
The GOP sent a letter to Trump? Like, words on a paper? Still don’t get he cannot read?
2
Tariffs are a good idea? China supplies about 1.5% of steel to the US as far as I know. These tariffs will hurt Americans.
From the president of the European Central Bank:
“If you put tariffs against your allies,” Mr. Draghi said at a news conference in Frankfurt, “one wonders who the enemies are.”
The economy is global and there are rules set up by the World Trade Organization which govern things like tariffs, and a wide variety of trade agreements. Since the orange one doesn't understand trade why would he even think to look at some of rules or regulations. Regulations, bad word.
135
If our allies tax our products more than their own, and engage in predatory trade against us, then...... Mr. Draghi, ", “one wonders who the allies are.” ?
1
Yeah, but the Chinese make 50% of the worlds steel and that's what sets the price. It's all fungible. It doesn't matter that we do not import their steel.
But the world Trade Organization and other transnational organizations give all of the advantages to global capital, and all of the dislocations to workers and the environment.
Democrats that think that this is all going great handed this election to Trump.
Dear Peter and Ana, So nice to hear Kellyanne tell us what lens, the Donald looks through. He is such a worker, up to his elbows in the grit of the everyday life of the American worker. If you believe that I've got a bridge I can sell you in Brooklyn. Oh, by the way, that bridge got finished by a woman. Happy International Women's Day, Peter and Ana. Clueless in Oregon. RAW
40
"Promises?" "Flexible?" Liar! He's killing us, and he knows it. He's like a cat toying with a mouse at this point. Very cruel individual without decency. The Republicans will bury themselves, if they do not bury him, literally and figuratively.
46
What a poor, unreliable "leader". He is so obviously distorted in his personality. Every day he is creating chaos and mayhem.
37
If you people want to use the word "mayhem" to describe Trump-(it seems to be the pet word of the liberal hive)-then you should understands its LEGAL definition. Mayhem is a crime-usually it is used to describe ": willful and permanent crippling, mutilation, or disfiguring of any part of another's body"
A good example was when Tyson bit off Evander Holyfield's ear.
SOMETIMES THE TERM IS USED TO DESCRIBE CHAOS-
Where you see chaos in Trump's WH, millions of your fellow citizens see order and common sense- and many think your mindset is in chaos-and that the policies you advocate have resulted in chaos-a nation w/o borders unable to control immigration is in chaos, states that defy the federal government destroy the rule of law and cause chaos, the loss of our economy and industries is chaos- and a resistance movement directed to undermine the lawful acts of a duly elected President is intended to cause chaos. . You are describing yourself and what you see is what you have caused
Shoot-ready-AIM, is not the way to make policy.
30
Our President is starting a trade war that will tank our consumption based economy. No one is going to be able to afford things made from steel and aluminum and we are not going to be able to export what little we produce because our trade partners are going to punish us.
Instead of setting tarrifs by law, which Congress can do, they're wagging their finger at him like a child saying, "don't you do it!" He's gonna do it because he can and he doesn't care.
Whether aware of it or not, he is single-handedly making America into a useless power. Which is exactly what China and Russia want. There is a reason Putin backed this wackjob, its probably the best return on investment he ever could have hoped for.
193
So basically a hostage situation depending on the ever changing whims of a mad king.
111
Why even bother, if exceptions are granted to all Western nations, including Mexico. Why not simply call it the China Tariff or Asian Tariff (if South Korea, a US ally and virtually a protectorate, is not granted an exception). Silly does what silly do.
24
I just got an image of leaders from all the affected countries gathered around the table telling the emperor how dashing and potent he looks in his new clothes.
15
Now the whole world will become further victimized as Trumps narcissistic bubble includes "temper tariffs".
47
I am so very sure that this latest Trump tariff joke will resemble Trump's earlier "Muslim immigration plan" that excluded those Muslim countries in which he has business interests. I would bet money that this latest tariff joke is of the very same ilk. "If you allow a big Trump hotel and golf course resort, I will not hit your country with a tariff"......if he doesn't actually say this, it's certain to me that he thinks it. And means it.
Further and further we go into the America dystopia of Trump.
30
The words “Trump” and “promises” should never be next to each other.
29
Flexible = flip flopping.
19
"Flexibility" is a code word for inconsistently applied, a recipe for deep global resentment.
17
Is it not clear now? No particular policy means anything to Trump - he seriously doesn't give a hoot about any aspect of government.
His game is to be the center of everyone's attention 24/7, and the best way to do that is to keep us perpetually off-balance and guessing in breathless suspense about his next perilous move.
The clinical diagnosis of his narcissism by many psychiatrists is not a theoretical abstraction: this is how it looks and acts in real time.
43
Even an economic dunce would know that trade has to involve both credits and debits over all. The Trump approach brings back thoughts of the monarch who was angry that the worst riding car on trains was the last car, so he ordered that all trains remove their last cars.
32
Trump Promises to Be ‘Very Flexible’ With His Use of Extortion.
21
@Chicago Guy, I was just thinking what you said before I
read your comment. He will use this for leverage over
countries who do not salute him or use his hotels
when they are in the states or something,. He thinks
he is being cunning, Is there really no way he can
go to prison if Mueller brings home with the
goods ? The threat of ruining people's lives
should be a crime, along with selling us out
to the Russians of course.
1
Everything he has done has stuck it to our allies. This tariff will barely affect China, but will impact our closet partners, Canada, Mexico and EU.
He seems to be realigning the US with Russia and China.
26
Probably a wise move since they’re the new winners
1
Yes, we Canadians see this too. Not clear what he is doing, but it certainly is a 360 pivot from past Presidents. Is Russia even on this list of countries? It's all very strange to us and the discussion up here is why Canada is included as a National Security threat to the U.S. It's insulting. Most of us hope he is a one-term President.
1
It's time both Trump and Democrats got smart on trade. Free and fair trade creates jobs everywhere. Tariffs don't.
9
Perhaps someone could explain to Trump that not only does our trade imbalance with Canada favor the US by billions, but even more billions of US exports from the Great Lakes need to travel through Canada to reach the Atlantic. The US is far more vulnerable to retaliation from Canada than the reverse.
Here's a far out scenario: Trump unilaterally ends NAFTA and builds a southern wall and Mexico gives China's navy it's own port, which China pays for.
10
Please explain how any trade imbalance if beneficial for the affected country. Is it beneficial that the U.S runs an $800 Billion a year which somehow adds to our national deficit? I would very much like for you or any economist to explain this to me
He is fulfilling a campaign promise.
Why not try to revive the American steel industry, and provide jobs, and money at home? Why be against a level playing field?
China from what I understand, ships steel to other country's, ( Vietnam ), who then sell it to the US.
5
Every single economist says that this will be a total disaster. Jobs will be lost, industries will suffer terribly and national security will suffer. So my question is, why do you choose to believe the opposite? Because Trump says so? He doesn't know anything.
2
Compared to the amount of things we make FROM steel and aluminum, actual steel and aluminum production is tiny and doesn't employ that many people. Sure those people will keep their jobs, but the jobs of millions of people who make things out of steel and aluminum are now in danger. It's a terrible tradeoff that will have broad repercussions.
Well, one reason would be that it's not 1956 any more.
Another would be we're already stuck with reviving the unrevivable coal industry because of his dubious promises to the minority that put him in power.
How about one disaster at a time? At least until November?
1
Trump's idea of power comes from his corrupt origins in Manhattan during the 70's and 80's. In other words, his "tariff" is analogous to when the local mobsters come by and ask for their protection money.
23
So, who wins and who loses other than the U.S.? 25.6% of imported steel comes from Canada and Mexico. Mostly Canada(16.46%). The EU (14.55%), Brazil (13.53%) and South Korea (9.35%) will carry most of the load. Imports from China...2.15%. Trump is going to exempt Canada and Mexico (provided they agree to renegotiate NAFTA). What has been accomplished other than satisfying a campaign promise. Oh, I get it...we don't want the EU, Brazil and South Korea to be our allies anymore. Well, there are some other smaller players but who cares about them. I do not see the U.S. as a winner here.
53
I wonder if exceptions are made for countries that donate to "Trump's campaign".
64
You seem to mistake Trump for a typical politician rather than the flat out conman that he is. But if by "Trump's campaign" you mean directly into his pocket, you've got it right.
15
Or at least kiss his ring.
6
Donate Or manipulate the election process...
The closer that Mr Mueller gets, the bigger the noises from the White House.
1
“If you put tariffs against your allies,” Mr. Draghi said at a news conference in Frankfurt, “one wonders who the enemies are.”
Sure is hard to believe the president's "no collusion" bit when it seems that nearly every single action he has taken on the world stage (and domestically) has denigrated our standing and reputation in the eyes of the world, and opens the door wide for China and Russia to take our leadership role. If he isn't acting on behalf of his Russian handlers and debt holders, then he is astoundingly incompetent.
64
Sadly, it could go either way but those are the only two options for sure!
Now would be a good time for a Republican to round up all the Senators who don't agree with Trump and send a letter to all our allies telling them to disregard, as much as possible, the President's tariffs. And explain to them that Trump will not be President for long, at which time all the tariffs will be rescinded and thing go back to normal.
Just like Tom Cotton did when he sent the infamous letter to the Ayatollahs of Iran telling them President Obama's signature to the multinational nuclear agreement wasn't worth the paper it was written on.
8
Instituting tariffs, then promising to be "very flexible" sounds an awful lot like naked extortion on behalf of trump and kushner enterprises.
50
But what is a Trump promise worth?
2
Trump was all about the tariffs until he found out the only ones on board were Democrats while his conservative yes-men were finally pushed past their breaking points.
It's just what he's looking for in a time of need
(to distract America from his failures and the Mueller investigation):
great reality TV programming.
Everyone tune into "Donald, International Circus King" tomorrow to see what happens next!
5
Take a carve out from Trump? One that - according to your article - leaves him at the controls to increase any tariff anytime he sees fit? It's doubtful that allies or enemies will give our current President that kind of economic and social leverage. Trump is the kind who could say to Canada for example, "You produced too much steel this quarter, now our factories have to lower prices. Cut production in two weeks or you'll see new tariffs that will punish your economy." Undue influence in another country's economy, security and maybe their elections as well? - only too likely.
8
Tariffs to "protect"? As an industry, when I know that I'll always have money coming in, then why bother to innovate or improve, to develop new technologies to enhance my product or my productivity to give my product a competitive edge since my income is protected? Sounds like, feels like, smells like welfare to me.
5
Any country that has or is planning on building a Trump Hotel or who lends Jared Kushner at least 100 million dollars will be exempted.
32
Quite surprising that such a major action can be done without involving the congress. 25% is, after all, huge.
5
In other words he's not going to do any of the thousand things that make the tariffs a bad idea, making the tariffs not tariffs at all.
3
It has never been more clear that this president, and what is left of all the "best people" in his cabinet and administration, are simply making things up as they go along. I am in the metals industry and this tariff situation is doing nothing but causing utter chaos to a large and growing number of businesses.
14
I believe that the first thing a person should do is to see the truth. The truth about global business is that it isn't any different than business within our country or within our states or within our counties or within our towns. It is an act of war at all levels with varying degrees of devastation. One side attempts to reek as much possible damage to the other side as possible and if possible to take control of the "enemy". Even when there are "allies" standing together, even they in many ways hinder each other in the end goals and operate with apprehension in being allied.
According to Sun Tsu the purpose of war is to advance the goals of the state. Von Clausewitz said it was to achieve an end state different and hopefully better than the beginning state. Those two fellows are generally considered the two most renowned military philosophers.
But within those definitions, one has to ask “Whose state is it and who is setting the goals”. What does the “better end state” look like by whoever it is that believes war is the means by which the advancement or the betterment of the state should happen?
The regular man on the street, what is his life all about…? Home, food, safety, a desire to explore life’s amazement's, family, possibly a connection to God in whatever form? And the average woman on the street! How many see their children leaving for war with a smile on their face? So, what level does this belief that war is the means by which the state becomes better?
Rule of Trump rather than Rule of Law, his flexibility will be based upon how willing other nations are to offer him bribes. He may as well post a sign stating: "favorable tariffs for sale".
2
Flexible?
How about clueless.
7
As a life long Democrat, it is amazing listening to all you extreme lefties. If Trump proposes it you are against it. China treats the U.S. badly in trade and Obama and all the predecessors just took it. Time for a change.
3
You're joking, right. Go look up how much steel we import from China. Look up the US share of China's total steel exports. We're irked at Chinese trade policy ... so we attack Canada?
Just last week, we in fact enacted a punitive tariff on Chinese aluminum foil. This was done by the normal orderly process of government, based on the evidence that the Chinese were dumping that product (selling it below the cost of production), and that this dumping hurt American manufacturers.
If the issue is unfair Chinese trade policy -- then do more of that. Don't start a trade war with our allies. With the legal pretext being "national security".
8
Dear MM,
China hardly exports any steel or aluminum to America. The tariffs will be levied against our allies, such as Canada, the E.U., Brazil, and South Korea. So they're boneheaded, they'll lead to trade war, they'll worsen relations with allies, and they'll do nothing to China.
Are you actually a democrat? Because what Trump tends to do is so incredibly ignorant and destructive, I don't know of any actual democrats who will stand up for him. Only Republicans pretending to be democrats.
1
As a life long Independent, it is amazing listening to all of you Trump voters. If Trump proposes it, you automatically think that it's the greatest idea ever. After decades of being considered "the" country to aspire to, Trump has taken us down a route where even our allies are questioning who we are and what we stand for. Midterms are coming. Time for a change.
3
Hmmm. "Flexibility" in trading with a crooked business man usually equates to corruption. Clearly Trump doesn't know what he's talking about (what's new), won't listen to more knowledgeable voices and is continuing to weaken our nation and it's standing in the world as a whole. Jeez, why are we even having to deal with this imbecile?
3
Donald Trump's definition of 'very flexible':
Bluff your way through when you don't have a clue what you're doing. Lie whenever you feel it is necessary. Change your mind with a moment's notice. And, never heed the advice of any intelligent person.
The man is a caricature of a president.
Hurry Mr. Mueller...please, hurry.
10
What the heck does that mean? Trump is willing to be very flexible. If you hand him an envelope full of cash under the table he is willing to be flexible? This is how he has operated his entire life. He’s a total criminal. Can’t wait for him to go to jail.
8
Any headline that starts with the words "Trump Promise..." isn't worth reading.
19
This boy cries "wolf" daily and then changes his mind. Do we really need reports on his tantrums, shenanigans and bloviating?
Really, I think if we just shut him off in his room and ignored him for a while, he might just go away.
7
How about a tariff on guns, ammo & paraphernalia?
18
"How about a tariff on guns, ammo & paraphernalia?"
There already are tariffs on those, although there are exceptions for various countries. See:
Harmonized Tariff Schedule
Chapter 93: Arms and ammunition; parts and accessories thereof
https://hts.usitc.gov/current
Think it will help Remington with their bankruptcy filing?
What say you will about Trump, he keeps his promises. Clumsy execution yes.
1
"flexible" is Trumpskeak" for I have no idea if I am right or wrong but this way I can pretend I was right either way and just flip flop.
6
Bring on the tariffs! They're preferable to rewarding this bully for his obnoxious behaviour and any real or imagined surrender to extortion.
2
I stopped at, "trump promises".
7
Trump is utterly non-serious about this tariff policy. His decision to invoke it was done in the heat of the moment when he was frustrated about other things. He is treating it as a publicity stunt rather than a serious policy matter that will affect millions of people all over the world. Now his policy advisors are trying to force him to back-pedal, and the result is a holy mess. We will be wiping up the flotsam and jetsam of this cockamamie nonsense for decades.
How I wish we had a real president rather than Emperor Donald the Dumb who has decided that no one knows more than he does, and that whatever pops into his head at 4am (after watching Fox News) is God's truth (rather than the hokus-pokus of a deranged mind).
Sad.
13
On March 1st, "The president told more than a dozen executives that he wanted the tariffs to apply to all countries. Mr. Trump argued that if one country was exempt, all other countries would line up to ask for similar treatment."
Trump is a pathological liar. Always has been, always will be. Which mean the word of the President of the United States is absolutely WORTHLESS.
"It's going to be so great! Really tremendous! Just the best ever! You'll see! Really terrific! We're going to get there! We're definitely going to look at that very soon! And we're going to make sure it's done right! It's just going to be so great!" - The man is a complete and utter vacuum. Everything he says is meaningless. "Really wonderful!" It's all just an endless stream of garbage.
13
Does the next (president)? have to be like this thing?
6
What a hot mess. No strategy, no vision, no conviction, no depth of knowledge, no commitment to being part of a global community of allies. No leadership. No ethics. Nothing but chaos, ignorance, narcissism, impulsiveness and greed.
42
Sounds like an extortion racket. Any back channeling by the family going on?
5
To the countries of the world who are trying to do business with the United States, know that our president is a chronic liar and a dubious businessman. Do not believe what he says about tariffs in trade negotiations. Band together and protect yourselves. Women, take extra caution!
4
Flexible is a word one might use to describe this; other words that come to mind are random, erratic, scrambled, helter-skelter.
5
Since when is Europe not an ally? Did I miss something?
25
Translation: After next Tuesday's election in Pennsylvania, Trump will forget about tariffs and attacking Mexico and Canada
6
"We want very loving tariffs"
2
The other day Trump said they would be applied across the board, then he said Canada and Mexico would be exempt. Now he says the tariffs will be "very flexible." Perhaps if he would consult with experts with some knowledge of history, and then make a decision, instead of always reacting from the hip he would then not have to back track on everything, looking as stupid as he looks. But even more interesting is the choice of Tillerson vs. Romney, one wanted by Russia, the other not! This should be investigated. And then the assassination of Sergei Skripal, why wait so long to kill him after he was tried as a spy, and then traded to the US/UK? It seems very convincing that Skripal being close to Steele was considered a threat NOW by Putin. These are troubling issues that need to be conclusively investigated.
5
As a Canadian I can assure you that for Justin Trudeau to cave on Trump's absurd demands on NAFTA would be an act of political suicide. It won't happen. The Canadian government, seeing Trump for what he is, is actively seeking more trade agreements to dull the blow of Trump's idiocy. We don't like bullies and would rather pay an economic price than cave to a narcissitic carnival barker who can't even read a one-page policy paper. Americans have no better friends than Canadians, but the so-called President seems obsessed with alienating every friend the US has as he abandons American leadership on the world stage while embracing all the authoritarian rulers.
32
As an American, I can assure you that many of us are incensed and mortified at the conduct of our corrupt, blowhard, dotard president*, that we hold our Canadian (and European, Australian, Japanese, Korean and other) friends in high esteem, and that we will understand if your governments are compelled to retaliate for Trump's inane and perhaps insane tariffs.
Please give us a year or two (three?) to impeach this narcissistic fool, jail him and all his cronies, and then right these and many other wrongs they have perpetrated, and forgive us. As Winston Churchill probably did not say: “Americans can always be trusted to do the right thing, once all other possibilities have been exhausted.”
19