Posted on 03/02/2018 7:28:44 AM PST by SeekAndFind
President Trump is raising tariffs 25% on steel and 10% on aluminum, claiming that cheap steel from other countries has hurt the American steel industry. His claim, that steel imported at lower prices hurts our steel industry, is certainly true.
But talk show host Mark Levin says Trump's tariffs are crony capitalist gifts for wealthy steel-owners that are bad for the economy as a whole. On his talk show last night, he listed a number of reasons why:
1. Industries that depend heavily on steel, such as auto and airplane manufacturers, will take a big hit. With the increase in the price of steel, they will have to increase the price of cars and planes, reducing sales and profits, and ultimately, these manufacturers will have to fire employees to compensate for the inevitable losses.
2. Industries that even peripherally rely on steel will be affected as well. Just think of any business that needs anything made of steel, whether it be cars, refrigerators, trucks, stoves, computers, or any number of other things. They will all have to raise prices to compensate.
3. The ultimate end purchasers of anything made of steel, or anything made with steel, will have to pay higher prices. Levin frames this as a loss of liberty, which is correct, and, equally important, as a tax that punishes the American people. Every time you pay more for a car or a boat or a can of beans or even a loaf of bread, which is made in an oven, which, guess what, is made of metal, you will have to pay more. Because metal is so ubiquitous in manufacturing, Trump's tax will make you pay higher prices for nearly everything you buy.
(Excerpt) Read more at americanthinker.com ...
No, the average guy who has lost his job to these phony trade deals!
The stocks dropped quite a bit thanks to a stream of twitter thought by Trump. He should stop and think before posting.
He can post things like Sessions is fired or the Clintons and obama have been arrested for treason instead.
Reign in an out-of-control EPA and watch what happens to the price of American steel and aluminum.
Do that and tariffs would not be necessary.
Just like the Middle East when they had control of oil, they set the world crude price.
Apparently we are the biggest producers but I haven’t noticed a drop in prices for gasoline.
Stocks going back up today after being down.
Wall Street made a killing with this swing.
RE: Reign in an out-of-control EPA and watch what happens to the price of American steel and aluminum.
Do that and tariffs would not be necessary.
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I agree with you.
Sorry, but as the name clearly states, "Never Trump" means active opposition - not just "barely lifted a finger" to support.
Reign in an out-of-control EPA and watch what happens to the price of American steel and aluminum.
Do that and tariffs would not be necessary.
Absolutely!
“BTW, did not see that the article was an editorial,”
When it begins with the “un-patriotic” rhetoric what else would one call it?
I guess Levine’s ratings are high enough now so he can get back to bashing Trump. Surprised he held back this long.
Your explanation is s a good one. What he proposes, unless it is retaliatory and focused, is a bad plan.
I think what you say is a lot of hopeful supposition.
I didn’t hear our President saying anything about specifically targeted tariffs. Also, why aren’t any links to this very important issue posted at Breaking News? What will this do to the price of rifles and shotguns?
If one were of a paranoid mindset, one might even ask if there is some correlation between our President’s tariff declaration, hurting our ally and neighbor, Canada, and Putin’s latest pronouncements on his superior defense/offense capabilities. With several other tariff articles posted at FR, at least one of them needs to be at Breaking News. This is an important story.
and Harley Davidson.
You’re not supposed to remember any of that.
Those who are rarely if ever unemployed don’t worry about de-industrialization.
Globalist???
Levin was a never Trumper up until Election Day.
We don’t really know if he voted for Trump!
He endorsed Trump in September.
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