I believe that the topic of steel tariffs came up in the election threads, but seems to deserve its own thread. Probably good arguments for and against and also may have folks that normally favor one side arguing differently. I don't know much on the topic so I am interested to learn from those that do. This article seems to include the reason for tariffs: What is Donald Trump doing about steel imports? https://www.ft.com/content/8c1e9f0e-56c2-11e7-9fed-c19e2700005f Here's what Bernanke and Greenspan present as the argument against: Bernanke and Other Heavyweights Warn Trump Against Steel Tariffs https://www.bloomberg.com/news/arti...-organic&utm_source=twitter&utm_medium=social
Hmm, this expands beyond just tariffs into things like NAFTA, but... it looks like Trump's moves might hurt the automotive industry? Trump Tariffs Would Cost U.S. Automakers Billions, Study Finds https://www.bloomberg.com/news/arti...-organic&utm_source=twitter&utm_medium=social
Trump and the GOP have this facination for wanting to create jobs for professions that simply won't exist in a few decades. Their approach seams short sighted mainly to pander to uninformed voters and lobbiests.
Are we willing to pay for made in America? I highly doubt that for most products. Correction, maybe when they are all made by American robots in the future.
Screw that. I'm willing to pay a premium for made in USA only if the product quality is superior. Increase steel tariffs on imports from China and the imports will just shift to imports from South Korea. Increase steel tariffs on imports from South Korea, and the imports will **** to imports from Japan..... so on and so forth. In the mean time, US based steel dependent manufacturing companies will now become less competitive against their foreign rivals and all those countries will retaliate with increase tariffs on certain US industries.
And here's the Newsweek article quoted in the tweet: HOW DONALD TRUMP DITCHED U.S. STEEL WORKERS IN FAVOR OF CHINA http://www.newsweek.com/how-donald-trump-ditched-us-steel-workers-china-505717
BCG was hired by a partsmaker trade group to do that study. That doesn't mean the study is wrong or anything, but BCG is a consultant. You can pay them to argue whatever side you want. That a partsmaker trade group threw some tens of thousands of dollars at BCG so that Bloomberg would publish this article does mean, though, that American partsmarkers do see Trump's policy position as a threat to their businesses.
His genius savant accountants probably told him steel workers can't pay to stay in his overpriced hotels. Chinese millionaires OTOH...
