President Trump- The Implications

[swake]

Jared Kushner had official White House meetings with the heads of two different companies that then loaned his company a combined half billion dollars.

Yes, billion.

http://www.independent.co.uk/news/world/americas/jared-kushner-white-house-business-loans-intelligence-top-secret-clearance-conflict-interests-a8234326.html

There's a whole lot of people going to prison.

[Conan71]

Dude, that's racist!

[Conan71]

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don't trade anymore-we win big. It's easy!

"...and they get cute"?

How presidential.

The smartest man in the world apparently did not study economics or history.  I don't see how a 25% tariff on steel (and 10% on aluminum) will re-open or construct hundreds of steel and aluminum mills in the U.S.  It will have a very huge impact on the industry I've worked in for the last 13+ years since boilers are made from steel.  Look around you at what manufacturing industries are huge in Tulsa: fabricated metal products, many of them steel.  I hope I'm wrong, but this could have massive impacts on many companies in Tulsa and the jobs they supply.

I guess on the bright side, we might be able to clean up on used boilers as plants shut down which is always good for my pocket, screw all those poor folks who lost their jobs to a petty trade war.

In Trump's vindictive business world, these shenanigans may play well.  Do this to the global economy and the effects are far-reaching and usually bad.

[erfalf]

"...and they get cute"?

How presidential.

The smartest man in the world apparently did not study economics or history.  I don't see how a 25% tariff on steel (and 10% on aluminum) will re-open or construct hundreds of steel and aluminum mills in the U.S.  It will have a very huge impact on the industry I've worked in for the last 13+ years since boilers are made from steel.  Look around you at what manufacturing industries are huge in Tulsa: fabricated metal products, many of them steel.  I hope I'm wrong, but this could have massive impacts on many companies in Tulsa and the jobs they supply.

I guess on the bright side, we might be able to clean up on used boilers as plants shut down which is always good for my pocket, screw all those poor folks who lost their jobs to a petty trade war.

In Trump's vindictive business world, these shenanigans may play well.  Do this to the global economy and the effects are far-reaching and usually bad.

A trade war that wasn't even a thing prior to this. Consider the US already manufactures 70% of the steel that is utilized in this country. There really just isn't that much to "protect". There are other industries that could use the protection, but even that would be unwise, as most tariffs are.

The vast majority of job loss has been due to technological improvements. In other words, we need less people to work at steel mills, not that we produce less of it.

[swake]

"...and they get cute"?

How presidential.

The smartest man in the world apparently did not study economics or history.  I don't see how a 25% tariff on steel (and 10% on aluminum) will re-open or construct hundreds of steel and aluminum mills in the U.S.  It will have a very huge impact on the industry I've worked in for the last 13+ years since boilers are made from steel.  Look around you at what manufacturing industries are huge in Tulsa: fabricated metal products, many of them steel.  I hope I'm wrong, but this could have massive impacts on many companies in Tulsa and the jobs they supply.

I guess on the bright side, we might be able to clean up on used boilers as plants shut down which is always good for my pocket, screw all those poor folks who lost their jobs to a petty trade war.

In Trump's vindictive business world, these shenanigans may play well.  Do this to the global economy and the effects are far-reaching and usually bad.

For example, this will kill the US auto industry. And not just the American brands, but all those foreign companies that build cars here. Auto companies employ far more Americans than steel ever could. This country is far beyond a commodity based economy.

[patric]

For example, this will kill the US auto industry. And not just the American brands, but all those foreign companies that build cars here. Auto companies employ far more Americans than steel ever could. This country is far beyond a commodity based economy.

Nooooooooooooooooooo!


Europe could hit Harleys, bourbon and Levi's over Trump's tariffs
http://money.cnn.com/2018/03/02/news/economy/europe-steel-tariff-retaliation-trump/index.html

The justification for the tariffs - national security concerns -- also drew harsh criticism. German Foreign Minister Sigmar Gabriel described the administration's reasoning as "incomprehensible."
Trump will implement the tariffs under Section 232 of the Trade Expansion Act. To do that, he must claim that steel and aluminum imports hurt the country's national security.

National security? Like hacking elections national security?  Get the NSA on that right away...

[cannon_fodder]

Exactly.  For every sector "protected" by protectionism there are many more hurt by it.  A steel tariff hurts the auto industry, construction, boilers, infrastructure, as well as oil and gas.  All those oil pipelines and skids manufactured here in Tulsa... just got more expensive.  And we export many of those pieces out of the country!

However, the US steel production is down.  In 1967 we put out 115 million metric tons of steel.  101.4 in 1980.  106 in 2000. 80 in 2010.  And an estimate 81.6 in 2017.  Meanwhile, China has gone from 37 millions tons to 831 million tons in the same time period.  Japan has been steady around 100 million tons since the 1970s.   
https://en.wikipedia.org/wiki/List_of_countries_by_steel_production

The United States flagging steel industry appears to be in correlated to the rise of the industry elsewhere.  When China, India, Turkey, Brazil, and South Korea are producing nearly a billion tons of additional steel per year... the US industry faces global competition.  And it apparently can't compete,

[patric]

Shortly before Trump announced tariffs, his former adviser dumped millions in steel-related stocks
https://www.washingtonpost.com/news/business/wp/2018/03/02/shortly-before-trump-announced-tariffs-his-former-adviser-dumped-millions-in-steel-related-stocks/

Not enough corruption for you? Try this:

The Trump administration awarded the first border wall construction project to a one-person Nebraska start-up that is an offshoot of a New York construction company that was sued for stiffing subcontractors — and accused in a 2016 government audit of shady billing practices.
https://nypost.com/2018/03/02/firm-awarded-first-trump-wall-project-linked-to-alleged-shady-billing/

[Conan71]

Not enough corruption for you? Try this:

The Trump administration awarded the first border wall construction project to a one-person Nebraska start-up that is an offshoot of a New York construction company that was sued for stiffing subcontractors — and accused in a 2016 government audit of shady billing practices.
https://nypost.com/2018/03/02/firm-awarded-first-trump-wall-project-linked-to-alleged-shady-billing/
[/quote]

Meh, I don't care as long as Mexico pays the $11 million tab for this contractor promptly.

A "one man company" getting a contract to build or repair two miles of border wall sounds ridiculous, but this is part of helping "disadvantaged" small businesses.  I do admire the initiative to try and support small business and create jobs.  However, I've related this story before:

A fellow with a tribal card started a fire alarm business as a side job from his main gig as a firefighter.  As he was setting up with the feds for what SIC codes he wanted to bid under he selected boiler repairs and boiler equipment even though he did not possess the legally-required licenses to work on or repair boilers.  He got a contract for major repairs on boilers in a VA hospital.  Guess what?  He had no manpower and no such licenses to do this work but he was awarded the contract.  Long story short, he added 15-25% to the actual project cost just for doing nothing more than supplying another off-duty firefighter to stand around and watch my guys work all day and filing reports with the feds.

Nice work if you can get it.  The irony is, this company stepped in and provided supervision for a female-owned HUB-zone company which could have easily qualified for the project without adding another layer of expense to the project.

[guido911]

"...and they get cute"?

How presidential.

The smartest man in the world apparently did not study economics or history.  I don't see how a 25% tariff on steel (and 10% on aluminum) will re-open or construct hundreds of steel and aluminum mills in the U.S.  It will have a very huge impact on the industry I've worked in for the last 13+ years since boilers are made from steel.  Look around you at what manufacturing industries are huge in Tulsa: fabricated metal products, many of them steel.  I hope I'm wrong, but this could have massive impacts on many companies in Tulsa and the jobs they supply.

I guess on the bright side, we might be able to clean up on used boilers as plants shut down which is always good for my pocket, screw all those poor folks who lost their jobs to a petty trade war.

In Trump's vindictive business world, these shenanigans may play well.  Do this to the global economy and the effects are far-reaching and usually bad.

[guido911]

The smartest man in the world apparently did not study economics or history.

If Trump only knew more about boilers...

[Conan71]

[quote author=Conan71 link=topic=21419.msg323505#msg323505 date=
The smartest man in the world apparently did not study economics or history. 


If Trump only knew more about boilers...

I know right.

Actually the British do refer to older women as "boilers".  Perhaps he does.

[patric]

"Trade Nuclear wars are good, and easy to win"

[heironymouspasparagus]

If Trump only knew more about boilers...

Or anything that wasn't immoral, illegal, or vile and disgusting....

[guido911]

Pretty good jobs report today, although I never really bought into those numbers. That said, the answer is "no". I am not tired of winning.