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Keyword: trumptariffs

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  • Yes, Ben Shapiro is Still Wrong on Tariffs. Here’s Why

    03/19/2018 12:50:03 PM PDT · by Thalean · 53 replies
    American Greatness ^ | March 19, 2018 | Spencer P Morrison
    Shapiro claims that I favor “total state control of the economy” because I think it is possible to “simply pick the best industries and subsidize them.” Apparently, tariffs are Communism, and I am Stalin. . . Shapiro has it entirely backward: tariffs are the form of taxation most consistent with small government. . . tariffs are antithetical to big government because they preclude socialism. How? Tariffs make imports expensive. This encourages domestic production and discourages offshoring—thereby boosting demand for American labor. Basically, tariffs create stable jobs and increase wages for American workers... The key to solving this puzzle is recognizing...
  • Betsy McCaughey Defends Trump’s Tariffs, Badly

    03/17/2018 6:59:32 AM PDT · by SeekAndFind · 13 replies
    National Review ^ | 03/17/2018 | Ramesh Ponnuru
    Nothing in her op-ed strikes so much as a glancing blow at any of the criticisms of the tariffs. In the New York Post, Betsy McCaughey says the steel and aluminum tariffs have come under “an avalanche of false criticism.” Let’s check out her arguments one by one, in order.National security IMcCaughey writes, Tariff-bashers claim in war, the United States could rely on foreign suppliers. That’s ridiculous. Uncle Sam can compel our manufacturers to make defense needs a priority — but not foreign producers. The biggest suppliers targeted by the tariffs are Brazil, South Korea, Russia and Turkey. Should our...
  • Trump Readies Sweeping Tariffs and Investment Restrictions on China

    03/16/2018 12:12:00 PM PDT · by NRx · 85 replies
    NY Times ^ | 03-16-2018 | ANA SWANSON
    WASHINGTON — The dust has yet to settle on President Trump’s decision to impose sweeping tariffs on steel and aluminum imports, but the White House is preparing another major trade measure, this time aimed squarely at China. Mr. Trump and his top trade advisers are readying a raft of actions to penalize China’s theft of American intellectual property, including tariffs on at least $30 billion of annual Chinese imports, people familiar with the discussions said. The measures, which could be announced as early as next week, may also include investment restrictions, caps on visas for Chinese researchers and challenges to...
  • US STOCKS-Dow sheds 250 pts as trade war worries weigh on industrials

    03/14/2018 7:05:29 PM PDT · by cba123 · 14 replies
    CNBC ^ | 10 hours ago | Sruthi Shankar
    March 14 (Reuters) - The Dow Jones Industrial Average shed more than 250 points on Wednesday as U.S. manufacturers continued to suffer from concerns over the impact of new tariffs on trade. (please see full article at the link)
  • Economists Worry a Trade War Could Derail U.S. Growth

    03/15/2018 7:34:06 AM PDT · by reaganaut1 · 31 replies
    Wall Street Journal ^ | March 15, 2018 | Ben Leubsdorf
    Economists estimate President Donald Trump’s steel and aluminum tariffs will reduce U.S. employment only modestly, but increasingly worry that foreign-trade disputes could escalate and damage the U.S. economy. Forecasters surveyed in recent days by The Wall Street Journal continue to expect solid economic growth this year, but see rising odds that growth will come in below expectations. Just over half said risks were tilted to the downside, jumping from 30% in February and the highest share since September. Even generally optimistic economists cited trade policy or protectionism as risks to the outlook. “With everything looking better coming into the year,...
  • This Is Exactly How Trade Wars Begin

    03/15/2018 7:44:21 AM PDT · by reaganaut1 · 62 replies
    Wall Street Journal ^ | March 14, 2018 | Alan S. Blinder
    Dear President Trump : It seems you are about to impose tariffs on imported steel and aluminum. You probably know that just about every economist except Peter Navarro thinks this is a terrible idea. But it’s not just us economists. Aside from the steel and aluminum industries, virtually the entire business community opposes the tariffs. The stock market took a major hit. And by the way, when did you stop using the Dow to keep score? You tweeted that “trade wars are good, and easy to win.” Actually, trade wars are bad, and impossible to win. Voluntary trade is a...
  • Trump's Steel and Aluminum Tariffs

    03/14/2018 9:27:08 AM PDT · by Kaslin · 35 replies ^ | March 14, 2018 | Walter E. Williams
    There are a couple of important economic lessons that the American people should learn. I'm going to title one "the seen and unseen" and the other "narrow well-defined large benefits versus widely dispersed small costs." These lessons are applicable to a wide range of government behavior, but let's look at just two examples. Last week, President Donald Trump enacted high tariffs on imports of steel and aluminum. Why in the world would the U.S. steel and aluminum industries press the president to levy heavy tariffs? The answer is simple. Reducing the amounts of steel and aluminum that hit our shores...
  • President Trump's Trade War: Tariffs, Taxes and Propaganda

    03/12/2018 12:27:47 PM PDT · by ThinkingBuddha · 4 replies ^ | 03.10.2017 | Stefan Molyneux
    President Donald Trump is fulfilling yet another campaign promise by imposing steel and aluminum tariffs and pushing for further trade renegotiation around the world. While those interested in the principle of "free trade," business leaders, globalist politicians, the mainstream media attempt to galvanize the pubic against President Trump - Stefan Molyneux breaks down both side of the complicated issue.
  • U.S. Allies Sign Sweeping Trade Deal in Challenge to Trump

    03/08/2018 12:05:01 PM PST · by reaganaut1 · 43 replies
    New York Times ^ | MARCH 8, 2018 | ERNESTO LONDOÑO and MOTOKO RICH
    SANTIAGO, Chile — A trade pact originally conceived by the United States to counter China’s growing economic might in Asia now has a new target: President Trump’s embrace of protectionism. A group of 11 nations — including major United States allies like Japan, Canada and Australia — signed a broad trade deal on Thursday that challenges Mr. Trump’s view of trade as a zero-sum game filled with winners and losers. Covering 500 million people on either side of the Pacific Ocean, the pact represents a new vision for global trade as the United States threatens to impose steel and aluminum...
  • Trade adviser ascends in Trump White House

    03/11/2018 12:48:47 PM PDT · by yesthatjallen · 5 replies
    The Hill ^ | 03/11/18 | Niv Elis
    One must only watch a few minutes of Peter Navarro’s economic hypernationalist film “Death By China” to understand why President Trump has an affinity for the man. In the movie’s opening scenes, a flag-painted cutout of the United States tumbles to the ground and is brutally stabbed with a knife. As the map gushes blood, the knife’s handle is revealed to resemble Chinese currency, and its blade is labeled “Made in China.”
  • Trump Tariffs Cost 5 Jobs for Single Job Gained, Analysis Finds

    03/12/2018 10:25:15 AM PDT · by Tolerance Sucks Rocks · 113 replies
    The Daily Signal ^ | March 9, 2018 | Fred Lucas
    The Trump administrationÂ’s new tariffs on steel and aluminum from abroad could result in more than five jobs lost for every single job gained, according to an analysis from a group that advocates free trade.The job losses will be direct and indirect, as price hikes will hit American companies that buy international steel to make screws, wires, and machines, Laura M. Baughman, president of the Trade Partnership, said Friday during a Heritage Foundation event.The Trade Partnership anticipates a net loss of 146,000 U.S. jobs, Baughman said.On Thursday, President Donald Trump announced steel tariffs of 25 percent and aluminum tariffs of...
  • Trade War Prospect Shakes Part of Trump Base: Midwest Farmers

    03/10/2018 12:27:17 PM PST · by reaganaut1 · 26 replies
    New York Times ^ | March 10, 2018 | MONICA DAVEY and PATRICIA COHEN
    MAPLE PARK, Ill. — Snow and sleet were falling on Eldon Gould’s 500 acres this week, but he was already looking ahead to planting season; depending on ground conditions and the temperature, that could be just several weeks away. But now the prospect of steel and aluminum tariffs was adding to the list of worries and uncertainties that come with every corn and soybean season. “It’s the retaliation risk,” Mr. Gould said from his kitchen table in Maple Park, in a region of northern Illinois where farmland runs on for miles. “The world’s already awash in grain,” Mr. Gould said,...
  • Trump’s strange trade-war bedfellow

    03/09/2018 11:21:50 AM PST · by TBP · 44 replies
    New York Post ^ | March 7, 2018 | Seth Lipsky
    President Trump may have lost his chief economic adviser over the trade war he’s hatching with China. It looks, though, like he gained one recruit — Charles “Smoot” Schumer. Schumer was nicknamed “Smoot Schumer” some years ago for Utah’s Reed Smoot, a notorious protectionist. The Smoot-Hawley tariff act, passed in 1930, helped precipitate the Great Depression. America spent decades overcoming the consequences of the error. Not until Trump, though, did a president win office on such a pointedly protectionist platform. Trump announced last week he was going to start with tariffs on steel and aluminum. It humiliated National Economic Council...
  • Metal-Import Taxes Will Make America Rusty Again

    03/09/2018 4:45:09 AM PST · by reaganaut1 · 79 replies
    National Review ^ | March 9, 2018 | DEROY MURDOCK
    Trump's tariffs are a bad idea. President Donald Trump deserves applause for boosting the prospects for this country’s forgotten manufacturing workers, particularly in the steel and aluminum industries. Democrats lately have neglected these Americans. Hillary Clinton barely campaigned among them in Michigan during the 2016 general election, and she thoroughly ignored them in Wisconsin. Alas, President Trump is doing this all wrong. He likely will hurt the very middle class that he has championed since his escalator ride onto the political stage. Trump aims to protect U.S. metal makers with new taxes of 25 percent on foreign steel and 10...
  • 25 American Products That Rely On Huge Protective Tariffs To Survive

    03/08/2018 4:08:13 PM PST · by Para-Ord.45 · 68 replies ^ | Sep. 27, 2010 | Gus Lubin
    Congress is preparing assail China for protectionist policies, like a 105.4% tariff on US poultry. But anyone who thinks America is a perfect practitioner of free trade needs to wake up. The International Trade Commission lists over 12,000 specific tariffs on imports to America. Hundreds of agricultural, textile, and manufacturing items are highly protected. So are obscure items like live foxes. -Non-specific dairy products -- 20% tariff on imports -Most vegetables -- 20% tariff -Asparagus and sweet corn -- 21.3% tariff -Synthetic outerwear -- 28.2% tariff
  • Flake to introduce bill to nullify Trump's tariffs

    03/08/2018 3:40:20 PM PST · by bkopto · 71 replies
    The Hill ^ | 3/8/2018 | jordain carney
    Sen. Jeff Flake (R-Ariz.) said on Thursday that he will introduce legislation to nix President Trump's tariffs on steel and aluminum imports just minutes after they were announced. "I will immediately draft and introduce legislation to nullify these tariffs, and I urge my colleagues to pass it before this exercise in protectionism inflicts any more damage on the economy," Flake said in a statement. Trump announced that he would levy the penalties — a 25 percent tariff for steel and 10 percent on aluminum — during a White House event. Canada and Mexico are exempted amid larger trade negotiations, Trump...
  • Trump signs tariffs proclamation

    03/08/2018 1:19:21 PM PST · by Lonely Bull · 36 replies
    UPI ^ | March 8, 2018 | Susan McFarland
    March 8 (UPI) -- President Donald Trump on Thursday, joined by steel and aluminum workers at the White House, imposed his promised industrial tariffs -- 25 percent on imported steel and 10 percent on foreign-made aluminum. Trump signed the tariff proclamations Thursday afternoon in a meeting with industry workers and officials -- ushering in fiscal penalties that have drawn ire from world leaders and sparked fears of a possible trade war. "A nation that does not protect property at home cannot protect its property abroad," Trump said. The White House said Canada and Mexico will initially be excluded from the...
  • Trump’s steel tariffs are hated by almost every US Industry

    03/08/2018 4:00:58 PM PST · by tcrlaf · 98 replies
    MSN/Vox ^ | 3-8-2018 | Alexia Fernández Campbell
    Business leaders from nearly every American industry are furious with President Trump right now. They’ve been pressuring his administration to back off from its plan to add steep tariffs on importedsteel and aluminum, which are used to make everything from cars to boats and even soup cans. But the president has waved off their concerns. On Thursday afternoon, Trump is expected to sign an order directing the Commerce Department to add the 25 percent levy on steel and the 10 percent levy on aluminum. He did say, however, that his administration will exempt Canada and Mexico from the tariffs for...
  • How a Trade War Escalates: Europe retaliates against U.S. exports and Republican states.

    03/08/2018 10:37:31 AM PST · by reaganaut1 · 128 replies
    Wall Street Journal ^ | March 7, 2018
    The European Union on Wednesday released its target list of retaliatory tariffs on American exports worth $3.5 billion if President Trump pushes ahead with his steel and aluminum tariffs. This is how Mr. Trump’s trade irruptions could imperil American exporters and become a destructive spiral. The EU is acting with some restraint—for now—in crafting a narrow list of items on which to impose tariffs, including bourbon, orange juice, corn, ladders and motor boats. None are vital to European industry, but they are politically shrewd in targeting exports from states represented by Republicans on Capitol Hill. The point is to punish...
  • U.S. Steel Brings Back Jobs Because of Trump Tariffs

    03/07/2018 3:13:44 PM PST · by Kaslin · 17 replies
    Rush ^ | March 7, 2018 | Rush Limbaugh
    RUSH: Looky here. “U.S. Steel to Call Back 500 Employees to Illinois Plant After Trump Announces Tariffs on Foreign Steel.” Now, I kept hearing that the U.S. steel industry was dying, that it was over, that we couldn’t bring it back, much like Obama told us during his presidency of the U.S. economy in general. And yet look at what all is happening. Everything Obama talked about regarding the economy is now rendered null and void. He was dead wrong about it, even though he was trying to make it happen. He was trying to make decline and stagnation a...