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Trump mulls 45 percent tariff on Chinese steel

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posted on Jul, 1 2017 @ 12:24 PM
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Free trade is about comparative advantage. If country A producers better apples and country B produces better oranges, then it makes senses for countries A and B to trade apples and oranges so both countries benefit. This is the idea of free trade. Cheap labor benefits 1 country and harms the other, so cheap labor has nothing to do with free trade. Neither America nor China has comparative advantage over the other when it comes to steel, so they should not trade steel. Furthermore, China uses child labor which is against international laws. America should use American steel, not Chinese steel.

www.businessinsider.com...

www.cnbc.com...
edit on 1-7-2017 by allsee4eye because: (no reason given)




posted on Jul, 1 2017 @ 12:39 PM
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About time.



posted on Jul, 1 2017 @ 12:42 PM
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a reply to: allsee4eye

Cool. Trump train coming through.

Keep em coming.



posted on Jul, 1 2017 @ 12:43 PM
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Seems fair.



Hope the UK does something similar when we leave the EU.

Key industry's like this should be done at home.
edit on 1-7-2017 by crazyewok because: (no reason given)

edit on 1-7-2017 by crazyewok because: (no reason given)



posted on Jul, 1 2017 @ 12:46 PM
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a reply to: allsee4eye

Let's be honest I think this is about China's lack of cooperation on North Korea. He expected them to get involved they didn't he's punishing them.



posted on Jul, 1 2017 @ 12:49 PM
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a reply to: dragonridr

I truly believe this is just him making good on a campaign promise.

This must have taken months to prepare.



posted on Jul, 1 2017 @ 12:50 PM
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originally posted by: dragonridr
a reply to: allsee4eye

Let's be honest I think this is about China's lack of cooperation on North Korea. He expected them to get involved they didn't he's punishing them.


Or maybe this is just putting America first.
I know it's been a while, so it might look funny...



posted on Jul, 1 2017 @ 12:50 PM
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a reply to: allsee4eye



America should use American steel,



hardly any amercian steel mills left compared to what used to be here.

and there are only two companies in the U.S. that rank in the largest anymore. that boat sailed a long time ago, it would take mega dollars to rebuild the industry back to what it was.

List of steel producers

ETA: this would be worse than the lumber tarraif / tax which has already started pushing prices up.

edit on 1-7-2017 by hounddoghowlie because: (no reason given)



posted on Jul, 1 2017 @ 12:51 PM
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a reply to: hounddoghowlie

Better start spending then!



posted on Jul, 1 2017 @ 12:55 PM
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China is a Communist authoritarian dictatorship. Journalists are jailed and killed. People have no freedom. Ideally, America should not be trading with China at all.



posted on Jul, 1 2017 @ 12:57 PM
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originally posted by: hounddoghowlie
a reply to: allsee4eye



America should use American steel,





ETA: this would be worse than the lumber tarraif / tax which has already started pushing prices up.


Thats the point!

Soon it will become profitable for new American Lumber companies to start up and the market will balance out......with a few thousand more Americans employed.



posted on Jul, 1 2017 @ 01:03 PM
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a reply to: crazyewok

with the cost of building the mills,just a guess i'd say at least 10 plus years to to rebuild the industry. in the mean time all products that are built with steel price will increase cause many consumers not to buy.



posted on Jul, 1 2017 @ 01:06 PM
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a reply to: allsee4eye

Sounds great. Lets bring steel production up in the states and create more jobs.



posted on Jul, 1 2017 @ 01:09 PM
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originally posted by: hounddoghowlie
a reply to: crazyewok

with the cost of building the mills,just a guess i'd say at least 10 plus years to to rebuild the industry. in the mean time all products that are built with steel price will increase cause many consumers not to buy.


Cant make a omlette without cracking a few eggs.


Look I am no trump fan.

But his economic ideas seem beneficial in the long run.



posted on Jul, 1 2017 @ 01:49 PM
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originally posted by: Antipathy17
a reply to: allsee4eye

Sounds great. Lets bring steel production up in the states and create more jobs.


We don't make steel in America anymore. We make McNuggets.

www.marketplace.org...

I wonder what Trump will build his wall with if not Chinese steel. Perhaps Bull Sh!t, Trump has plenty of that... The Chinese won't sell with a high tariff.

Trump is just running his mouth. There will be no tariff, American Industry relies on China's cheap steel. Business in America only cares about PROFIT, thus mfg. off shore and cost cutting on labor and buying cheap raw material. It's just business....


edit on 1-7-2017 by olaru12 because: (no reason given)

edit on 1-7-2017 by olaru12 because: (no reason given)

edit on 1-7-2017 by olaru12 because: (no reason given)



posted on Jul, 1 2017 @ 02:02 PM
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a reply to: hounddoghowlie


it would take mega dollars to rebuild the industry back to what it was.

Nope. All it takes is hard working Americans who now have a competitive chance to succeed against subsidized Chinese industries to become entrepreneurs and choose to go into the steel business again. Which is exactly what will happen if upon this passes.

I ponder if this news will drive the price of scrap steel up in the states?? I BET! The domestic yards are likely enjoying this news.

a reply to: olaru12
From that link:

This innovation drove a lot of steel mills out of business. Specifically, the least productive and least efficient mills. The old mills that remained in business were the ones that could produce the highest quality grades of steel.

At the same time, Collard-Wexler said, wages for the remaining steel workers rose significantly. “Steel workers today are much better paid than they were in the past.”


Better quality, efficiency, and higher pay?? Sounds like the perfect formula for the American citizen!
edit on 7-1-2017 by worldstarcountry because: (no reason given)



posted on Jul, 1 2017 @ 02:08 PM
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a reply to: allsee4eye

OK now let's see him go after the Luxembourg giant that produces twice as much steel as the third and second in the ranks.

Where I work pretty much all our steel comes from somewhere in Europe, only a small percentage comes from a place in Chicago where they make a special type of steel. And I work in Hamilton ON. Steel town, has a massive steel mill literally in production OWNED by AcelorlMittal.

The bottom line is it all comes down to geographic location and what steel mill has to offer. For the west coast Chinese steel is used mainly because it would cost large amounts of money to ship from say Germany, than freight train across the country.
All this will do is just put more money in the industry giants of Europe because starting up a full on steel manufacturing plant is no simple task now days. If this goes through well, thanks Trump Hamilton will be racking in the business soon.



posted on Jul, 1 2017 @ 02:27 PM
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a reply to: olaru12

There is plenty of American steel as it is. Tens of millions of vehicles are built in the US annually. Can't be all made from Chinese steel.
edit on 1-7-2017 by allsee4eye because: (no reason given)



posted on Jul, 1 2017 @ 02:36 PM
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a reply to: olaru12




I wonder what Trump will build his wall with if not Chinese steel. Perhaps Bull Sh!t, Trump has plenty of that... The Chinese won't sell with a high tariff.


Did you say in another thread that you had plans to help build the wall? You may be right, he might build it with Bull Sh!t.



posted on Jul, 1 2017 @ 02:42 PM
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originally posted by: crazyewok
Seems fair.



Hope the UK does something similar when we leave the EU.

Key industry's like this should be done at home.

Fat chance. It was the Tories that blocked tariffs on Chinese steel coming into the EU. So there is no way in hell they are going to do that for the UK alone especially since we are subsidising them to the tune of BILLIONS to build a nuclear power station. EU is probably glad we are going!

This is ATS you are supposed to be more educated about reality!!!!!!!!!!!!!!!!!1



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