Can anyone explain what the steel tariffs actually mean?

Can anyone explain what the steel tariffs actually mean?

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It means Trump is retarded and doesn't know history.

W Bush did this in 2001 and 200,000 jobs were lost in the US, So they had to reverse it in 2003.

Building stuff gets more expensive.

It means we make our own steel.

Higher wages for the people who build these buildings then?

More good jobs for NEETs

Good luck with that

Look at this guy HE DOESN'T KNOW HOW TO WIN

I work at a family construction waste recycling business. It means that steel made for purpose construction whatever will be more expensive to ship from china because of tariff. This mean that more steel will be made here then there or somewhere else rather then there. The question is will China still pay more then domestic for the recovered material I pull out of the waste stream.

Not sure yet user.

>americans pay more for everything while the economy stagnates
>foreign competitors potentially start trade wars
>fucks over 'murrican allies and any attempt at renegotiating nafta

Basically an idiot move based on nothing but stupidity.

No because we don't know what will happen. This is pretty much an experiment.

lol

I think its at least half experiment.

On paper: anyone who wants to sell $1M of steel to America will have to pay a $100,000 fee.

Practical reality: Anyone who wants to sell steel to America will build a steel plant in America.

What does raw material price have to do with wages? Go back to school kid. If anything it means stagnant wages because they have to cut corners somewhere.
All this did is offset the tax breaks.

You pay a tax on foreign bought steel. It's economic protectionism...it doesn't work

>Nothing unusual happened in 2001.

I shop at and used to work at a metal roof and building supplier. The roofing we sold was domestic made with domedtic steel. The purlins, angle and i beams were all made in china or mexico. Quality was fine. Now all that red iron is going to cost more die to the terriff. It may or may not spark us manufacturing. I am unsure of the consewuences for global trade though. Steel should be considered a national security asset so i like the idea of rebuilding us steel manufacturing. You can rest assured the company i worked for would have made or sold us steel if it hadnt made them uncompetitive. I know this based on my knowledge of the owner and ceo.

Eh I bet it works sometimes.

It means the steel sourced for non-government contracts will become more expencive. Government contracts require supplies sourced from approved areas

Exactly. It's kind of hard to buy steel for tanks from China when you're at war with China.

Practical reality. They will pay the tarrif as hippy liberal regulations will never allow a new foundry to be built on U.S soil.

This. Neocucks cannot understand

We don’t actually import much steel from China, and they don’t export much to us. We’re something like 3% of their export market: they flood the rest of the world with steel, but we buy from Canada and Germany. Canada will be protected by NAFTA, but this should hurt the Europeans most of all. China will just sell their steel to others, and they might even benefit from this move if it hurts Europeans.

You'll see. It will cause foreign investors to build steel mills inside the US and employ hundreds of thousands of Americans.

You're looking at raw materials.

Look at finished goods.

No, you're wrong. All of that steel comes from China, even if it's imported through Canada, it came from China.

Mexico is 4th largest importer. Their tariffs are going to pay for the wall.

Based Trump living up to his promises, while encouraging US investment and employment!!

Higher prices for consumer more money for govt and less jobs for both countries

Who is john galt?

It means BUY AMERICAN

Wrong. Read books fagg

Idiot af

GTFO randcuckbetasoyboy.

Fuck yeah WHO'S READY TO WIN?!

Says the person who won't argue a point just lash out like a libtard should. Good goy. Believe in govt regulation. It's what (((they))) want

Good goy

It means:
-less fredom
-more expensive steel
-more expensive steel stuff
-less steel consumed
-less jobs in industries that use steel
-Americans steel producers get richer
-Trump and friendes gets more donations from steel producers

Koch Industries got richer.

Mostly this

Um the Canadian and Mexican steel comes from China
They have been using NAFTA to exploit the US steel markets for years

I don't find it productive to argue with ancaps and Ayn Rand followers, because they are too delusional to reason with.

Not tired of winning yet - keep it up Trump!

LEAFS BTFO

Glad to see that we have a lot of experts in this field after they took economics 101 at their local community college.

>hur red a boowk

>Kike shills bitch about tax breaks by lying and saying they only help the rich
>Then they bitch about new taxes specifically targeting international corperations

I don’t think I’ve ever read something so blatantly wrong in my entire life.

It means trump is putting American workers first like he said he would do... and there are a whole bunch of idiots out there that think the stock market represents if a decision is good for country or not... do these idiots not understand that markets have been manipulated by central banks. Fuck the stock markets. Jobs are what matters!!!

You're right, the new steel mills will be mostly robots

DELETE THIS

Just wait and see, and then be man enough to admit you were wrong.

Outstanding (admitting you can't reason)
Step two is washing it off

Kobe Steel Ltd, Japan's No.3 steelmaker, and United States Steel Corp said on Tuesday that their U.S. joint venture will spend $400 million to boost ... The 50-50 joint venture, PRO-TEC Coating Company, will begin construction of a new continuous galvanizing line in its steel plant in Leipsic, Ohio, with an ...

Haha, China is propping up there industries & put tariffs in place to stop imports affecting them, meanwhile the world is to sit back & let China dictate trade. Seems ppl only only too happy to support China in that aim

China was manipulating markets with ghost city steel consumption and Trump took leveling action. levying tarriffs in turn.

why would you put tariffs on RESOURCES
You want people to ship in resources all over the world so you can make shit out of them
You need resource import to make product export into a good business

I studied at the Mises institute for three years

Trump literally ran on this, why are people acting surprised?

>yfw domo arigato mister roboto turns into a slur for robopeople

Almost all imported steel is used in construction you dummy.

Shills have no memory and can only act on a script

EU exports of steel to the United States in 2017 were worth 5.3 billion euros ($6.53 billion) and of aluminum 1.1 billion euros.

For certain grades of steel, the United States cannot show there was any increase of imports last year, the EU sources say, meaning it would not be allowed to apply safeguard measures to them. For the EU, exports of those grades amounted to 2.8 billion euros ($3.5 billion).

Assuming U.S. tariffs fully covered EU steel, the European Union would put forward 25 percent tariffs on 2.8 billion euros worth of goods from the United States.

About a third would be steel grades, another third other industrial products and a final third agricultural products.

The list of products is set to be presented next week to EU countries, whose approval would be needed.

-

Last the US tried under Bush, the EU targeted key industries in swing states and Republican leadership. Which caused Bush to cave and give them up, but not before the USA lost a whole bunch of jobs and took a financial hit.

Oh and if Trump tries sinking NAFTA, then he can kiss Texas goodbye. They are one of the last Business Republican strongholds and are tied deeply to Mexico's economy.

They're not. Just that every time Trump fulfills a campaign promise they deel the need to complain about it. AKA, #resist.

Of course you did.

Look - Bastiat was not entirely wrong when he quoted quipped 'if goods do not cross borders, armies will.' That said, some manner of import/export regulations to ensure a relatively fair balance of trade is good for everyone; when trade is too imbalanced - as the steel trade currently is, you end up with all the costs of 'free' trade borne by one small subgroup, which is going to encourage that subgroup to make trouble. Reasonable tariffs are actually good because they protect those regional subgroups and keep them productive and not destructive.

This is the most cynical way of looking at this possible. When corporations had their taxes slashed they didn't hoard the cash. They gave out billions in bonuses. That move right there killed the entire leftist narrative.

American companies benefit and they will reinvest the escalated earnings back into their companies to continue to grab more market share. The growth will come from with America and spread outward. Trump is making these moves to get us out of this service economy bullshit and back into heavy production and manufacturing which is what we were doing when we were swimming in money.

The world is groaning because we are flexing our muscles for the first time in a long time and waking up and they know the gravy train on our economy is about to end. They either adapt and try to compete directly or they die. Either way we are better off.

Now kill NAFTA and let's get back to being an unfettered superpower again.

>politician actually doing what they promised

This is a surprise in America

>Mises institute
Libertarian - figures as globalism is now classed as "good" for economics. Keep buying all your shit from China, Walmart

It means we are bringing back domestic steel production to offset domestic damage from trade wars over critical commodities. It wont be pretty for awhile but it will secure us for the coming war with those yellow slant eyed dog eating communist scheming insect backstabbing rapist soul-less chink bastard faggot motherfuckers for negotiating with their international jew masters to cripple the west and degrade the white race. It wont be pretty but sinking the eternal gook for being cunts in international trade laws along with their masters is necessary for restoring order and the west.

And yes day of rope will include HAPA race mixers where they must take their gook half children and fuck off to asia. Bastard insect people will "get off our lawn" like /ourdirector/ clint eastwood said.

we did this in 2001 you mong. it cost us 200,000 jobs

So conservatives tied their industry to beaners? That is why 56% is a reality

>for negotiating with their international jew masters
You mean your international jew masters, no?

It means that foreign steel will cost more in America. This results in more American businesses purchasing steel that's made in America.

Of course, this also means steel producers that ship to America, and the countries they operate out of, will try to force us to remove the tariffs to increase their profitability. They could do it by placing their own tariff's, etc.

However, the county where most of the steel comes from (china) already implements protectionist measures across the board to prevent US products from being sold in their country, so tariff's on their steel is appropriate just to level the playing field.

More importantly, steel is a vital war commodity. Bullets, tanks, battleships, aircraft, etc all rely on steel. It doesn't matter how big our military is if our industrial sector can't replace lost equipment during a war. Building our steel industry back up makes us more capable of fighting a war. This is the reason the shills are shrieking like schoolgirls on their first period on this issue.

Steel tariffs=good

So did they cut corp tax to 21% to compliment companies investing in the US as well back in 2001? No they instead had a war to get elected

No they don't. At best they gave out a few paltry one off bonuses. Like Paul Ryan talking up a dollar fifty. It is a stupid notion. Would you go pay more rent to the same landlord if you got a raise? No. Because wages are a expense. On the contrary many companies used their tax savings to cut jobs, automating them away.

The majority of the tax cuts went to stock buyback by the companies.

It will be an ugly war but a necessary war, afterwards we will all have our proper ethnostates. You may be in valhalla brothers but your descendants will be space marines exploring the moon and mars. It is critical we do not fail our objectives and let this next war be like ww1 and ww2 where we were robbed and divided.

>It's economic protectionism...it doesn't work

globalism depends on "free trade". globalists are treasonous and they should be dragged from their beds and shot in front of their children.

>Gary Cohn threatened to resign over the administration's heavy-handed tariffs on steel and aluminum.

The salt is real

Stock buybacks = money given back to shareholders & it is up to them what they do with that cash, the money is in the US rather than in an offshore account gaining sheckels. Tax is also theft

Everything made with steel or aluminum becomes more expensive, our trade partners impose retaliatory tariffs on American goods, everyone is poorer and worse off by the end of this. Also, with less competition domestic suppliers will have less incentive to lower their prices and will be able to gouge their buyers.

Fun fact: China is only like the 10th biggest supplier of foreign steel, this bullshit affects friendly countries the most.

It means globalists are terrified and will try to crash the American economy to teach us a lesson.

A tariff is just a tax on imports. Say you wanted to buy $100 of aluminum from China last week, this week it now costs $110, because you pay a 10% tax/tariff.

Unlike other forms of taxation, tariffs are a tool to normalize or advantage relative prices between countries. The opposite way of doing this is to subsidize exporters, where they are paid by their government to export.

Let's say a ton of steel's "actual cost" is $99.

>You are a Chinese steel maker
>You want to export a ton of steel to America
>To make a profit, you must sell it at $100 or more
>American steel costs the same ($99), so the costs of exporting mean you have to charge more than Americans
>Americans usually buy American steel, because it's slightly cheaper than yours
>You are sad Chinese businessman, so China subsidizes you $25 per ton of steel exported
>Now you must sell your steel for at least $75 per ton to make a profit
>Americans buy your steel because it's like a 25% off sale every day
>American steelmakers can't make a profit at that price, so they go out of business
>You do so well that you know make five times more steel than you did 15 years ago
>le China is superior aheheheheh

This what has actually happened, so Trump is using the tariffs to normalize the cost

>China subsidizes you by $25 per ton and you must sell at at least $75 to profit
>Trump charges tariff of 25%
>To buy from you, Americans now have to pay $93.75
>You are somewhat cheaper than American steel, so Americans usually buy from you
>You are no longer king of the world and so sad and tiny penised
>China can't afford to subsidize you back down to profit at $75

This is what is happening now.

>so China uses tariffs as a tool to punish American protectionist-nationalist-capitalist pigdogs who reminded you of tiny penis

This is what will happen soon.

HOLY SHIT!
THE EU WAS THE ONE BEHIND 911 ALL ALONG!

Bush and obama pushed out almost all the factories... brass is totally gone...

cnbc.com/2018/03/02/canadas-trudeau-says-us-tariffs-on-steel-would-be-unacceptable.html Fauck off Cuckeau

>our trade partners impose retaliatory tariffs
They already tariff the fuck out of our shit

>They will pay the tarrif as hippy liberal regulations will never allow a new foundry to be built on U.S soil.

O rly? The mill I'm shitposting from right now was constructed from 2013-2015.

>Vital war

3 Percent

You do know that people from overseas can own stocks in American companies

And congrats. Trump has blown a over trillion dollar hole in the budget. At least Obama had the excuse of needing to spend out of the depression, while Trump still has a roaring economy.

China imports to those countries that import to the US, basically the US is paying 2 ppl for the price of the steel/aluminium. Any wonder the trade deficit is so large with all those "buddies"?

It means dumb ass Trump is 30+ years too late.

Does he know Bethlehem Steel no longer exists?

Lots of assumptions there kiddo. Keep taking (((our))) money for goods. I'll take a cheap Chinese shovel over cheaper American dollars

>still calling them crumbs
that worked really well for pelosi didn't it

comparing rent from an individual perspective to tax cuts on corporations worth billions of dollars is probably the most asinine metaphor I've ever seen

you are compelled to pay rent by a rental agreement, corporations were not directed to do anything specific with the tax cuts. they didn't have to give a cent to the workers, whereas you have to pay your rent or you get evicted.

Its a big fuck you to China, the US gets a ton of its steel production from China.

Assuming the regulations aren't controlled by special interests but that's never the case

Exactly, the EU do the same as China has dumped cheap steel into the market. Consumers are very happy to buy cheap shit & don't care about jobs that lose out due to it. But they soon complain when their $5 frying pan has gone up to $7

it's as dumb as imposing a tariff on imported oil.

>3 Percent
In peace time.

cheap imported steel creates more jobs than it destroys.

The EU is the biggest protectionist trade bloc in history.

my dude you are so uneducated it's pitiful.

foreign tariffs are already high on us imports. If they try to play that tit-for-tat shit they are up against the biggest economy in the world which also happens to be capable of completely self sustaining.

they are free to try but it seems much easier to me to try to compete directly instead of fucking cheating and putting chains on us.

us steel and gerdau still exist you fucking idiot

>complains about deficit
>Also complains about new taxes
Fuck off kike

Everyone's interest is social to someone else. Welcome to living in society.

Trump's policies have so far been more populist in nature than those of the past several presidents, and therefore are broader and less narrow/'special' than we've seen in some time.