Tariffs, Protectionism, Trade Deficits, and Trade War

[clubgop]

its only the third-biggest factor. Doesn’t even count!

from the person that thinks the dept of education is be all end all.

This bitch.

[Montegriffo]

Mid Continent Nail Corporation produces half the nails made in the United States at its factory in southeast Missouri. On June 1, President Trump imposed new tariffs on steel imports. In the following two weeks, Mid Continent's sales went down by half, causing over 100 workers to lose their jobs. Chris Pratt is Mid Continent's operations general manager, and he joins us from his home in Poplar Bluff, Mo.

Thank you for coming on the program, sir.

CHRIS PRATT: Thank you for having me. I appreciate it.

COLEMAN: What exactly is a 232 tariff?

PRATT: A 232 tariff is a tariff that is imposed by the president. He imposed that tariff on steel and aluminum.

COLEMAN: Mr. Pratt, why did the new tariffs hurt your company's sales so badly?

PRATT: Well, Section 232 tariffs only affect steel, not finished goods, so when we tried to pass on that 25 percent, which - our customers, in the two-week period, canceled 50 percent of their orders for June because they could buy import nails that are not subject to the 232 tariff. You know, right now, we're fighting 232 tariffs imposed by our own president, which, in turn, has allowed steel producers to raise their price 30 percent, as well.

COLEMAN: I'm sorry. Did you say that American steelmakers are increasing their prices by 30 percent?

PRATT: That's correct.

COLEMAN: Why?

PRATT: Because they can. When import supply is eliminated, that just gave them the ability to raise their price 25 percent, and they capitalized on it and raised it even more.

https://www.npr.org/2018/07/22/63125497 ... el-tariffs

Must be getting tired of all that winning by now.

[Speaker to Animals]

Supply and demand must be a real mystery to you.

[TheReal_ND]

lol it's just like that parable about nails and the kingdom was lost and shit. Like damn nigga, just buy some cheap nails. What a whole mill with like two dies was shut down and 50 Mexicans are on unemployment now

[Speaker to Animals]

Businesses suffer whose entire profit margin depends upon gutting the American middle class, and they are crying.

Ten years ago when businesses were collapsing so that could happen, they celebrated.

Fuck them.

[Montegriffo]

I understand that profit equals income minus costs.
I also understand that pricing yourself above foreign imports leads to lost sales and lost jobs.

I thought it was immigrants you wanted to export not jobs.

[TheReal_ND]

"Well Pratt, that president of ours just made it impossible for me to turn a profit thanks to globalization. If only that president of ours would just keep chinese steel cheap so I can make cheap nails. Damn US Steel and their high falutin ways!"

[Speaker to Animals]

I understand that profit equals income minus costs.
I also understand that pricing yourself above foreign imports leads to lost sales and lost jobs.

I thought it was immigrants you wanted to export not jobs.

No, dude.

The price of raw steel depends upon supply and demand. Tariffs create lower supply at a particular price point, since there is going to be less steel available at that price due to the tariffs. In effect, prices of steel are normalizing to what they should be if you discount the fuckery that China does to glut the American steel market in an effort to destroy strategic industries.

This is what we wanted to happen. You are bitching about exactly what we said needed to happen. But you don't understand basic shit.

[Montegriffo]

So it's ok to throw American manufacturing jobs under the bus so long as US steel can make a profit?
Does Trump have money in steel?
Does he even use US steel for his construction business?
I mean he had his MAGA hats made in China he approves pipelines which are built with imported steel and he staffs his golf resorts with immigrants.
Seems like he wants you to do what he says not what he does.

[Speaker to Animals]

So it's ok to throw American manufacturing jobs under the bus so long as US steel can make a profit?

This is literally what we are trying to reverse and what you are defending, you fucking tard.