Trump to Impose Sweeping Steel and Aluminum Tariffs

Discussion in 'Politics and Religion' started by Joe L, Mar 2, 2018.

  1. Joe L

    Joe L The people's champ

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    Trump to Impose Sweeping Steel and Aluminum Tariffs

    In a hastily arranged meeting with industry executives that stunned many inside the West Wing, Mr. Trump said he would formally sign the trade measures next week and promised they would be in effect “for a long period of time.” The action, which came against the wishes of Mr. Trump’s pro-trade advisers, would impose tariffs of 25 percent on steel and 10 percent on aluminum, effectively placing a tax on every foreign shipment of those metals into the United States.

    The president told more than a dozen executives that he wanted the tariffs to apply to all countries, one executive in attendance said. Mr. Trump argued that if one country was exempt, all other countries would line up to ask for similar treatment, and that metals could end up being shipped to the United States through exempted countries.

    Mr. Trump’s authority to impose such sweeping tariffs stems from a Commerce Department investigation that concluded last month that imported metal threatened national security by degrading the American industrial base. The administration has said it wants to combat cheap metals flooding into the United States, particularly from China, but a broad set of tariffs would fall most heavily on allies, especially Canada, which supplies steel and aluminum to American companies as well as the military.

    https://www.nytimes.com/2018/03/01/business/trump-tariffs.html
     
  2. Joe L

    Joe L The people's champ

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    Here is where this gets real interesting...


     
  3. Rivercard

    Rivercard Too much good stuff

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    Very swampy. Trump replaced the Gators with criminals.
     
  4. Absolute Zero

    Absolute Zero Registered User

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    Well Trump said trade wars are easy to win, so this is a good thing right?

    Jacking up the price of steel and aluminum will help save money for consumers by lowering the price of products I am sure.


    :sarcasm:
     
  5. Dback Jon

    Dback Jon Killer Snail Contributor

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  6. MrYeahbut

    MrYeahbut rilly bruh, rilly?? Contributor

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    Everything I sell is made of steel or aluminum. I've had 2 price increases since last July already. Most recently Jan 25
     
  7. Kel Varnsen

    Kel Varnsen Moderator Contributor

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  8. MigratingOsprey

    MigratingOsprey Thank You Paul!

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    Trade War you say? Definitely supports the notion of national security being at risk.......
     
  9. DWKB

    DWKB Registered

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    This might go in multiple threads (notice the date on the first article):

    Russian magnate Deripaska to quit role as Rusal president
    Reuters with CNBC.com
    Published 2:55 AM ET Fri, 23 Feb 2018 Updated 4:25 AM ET Fri, 23 Feb 2018

    Russian billionaire Oleg Deripaska plans to step down as the president of aluminium giant Rusal, the company said in a statement on Friday.

    The change comes less than a month after the inclusion of Deripaska and dozens of tycoons on a U.S. government list of Russian oligarchs. While it is not a sanctions list, Western banks may be reluctant to deal with companies whose owners are included.

    Deripaska also plans to quit the same role in En+ Group, another company he controls, two sources familiar with the matter told Reuters on Feb. 19.

    Hong Kong-listed Rusal is one of the world's largest aluminium producers. Deripaska's En+ owns a 48 percent stake in Rusal, which is a big consumer of hydroelectricity produced by En+'s power companies.

    https://www.cnbc.com/2018/02/23/russian-magnate-deripaska-to-quit-role-as-rusal-president.html


    ...and....

    Manafort’s Russia connection: What you need to know about Oleg Deripaska

    As my Washington-based colleagues reported this week, former Trump campaign chairman Paul Manafort allegedly offered to provide Deripaska, 49, with personal briefings about the 2016 presidential election less than two weeks before Trump accepted the Republican nomination. The emailed offer, said to have been sent to a Russian colleague of Manafort's, is among tens of thousands of documents that have been turned over to investigators looking into possible collusion between Trump associates and Russia as part of an effort by the Kremlin to interfere in the 2016 U.S. election.

    It is unclear whether such an offer reached Deripaska, and a spokesman for the businessman denied that it did. But Manafort's apparent readiness to share information with an oligarch known to be part of a trusted circle of businessmen near Putin is one of the most concrete revelations to emerge from the probe into Trump's Russia links.

    https://www.washingtonpost.com/news...-about-oleg-deripaska/?utm_term=.4ed77f2b3a32
     
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  10. UncleChris

    UncleChris Retirement Doesn't Suck Contributor

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  11. Cardsfanstl

    Cardsfanstl Registered

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    I do not really know the economic impact of this so I rely on the experts which say this is insane. Does this President know foreign car companies have plants here in the US which if this is implemented raises the price of cars. Stock market is already reacting to it.
     
  12. Mainstreet

    Mainstreet Registered User Contributor

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    I don't think anyone knows what tariffs will do going in. A lot of unknown factors.

    Every country can react differently with unexpected results. The European Union and China are big players to watch plus of course the stock market. An all-out trade war will hurt the American people and likely increase prices and inflation.
     
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  13. ajcardfan

    ajcardfan I see you. Contributor

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    I don't see how we can avoid that. Obviously, we do not produce enough steel and aluminum to meet our needs. This "policy" is isn't well thought out. Instead, it is a blatant hand job for his voting base. A terrible, terrible way to run a country. Many people are going to lose jobs.
     
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  14. Mainstreet

    Mainstreet Registered User Contributor

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    It will hurt our country in ways our administration never thought possible. Not only that, it will weaken political ties to allies.
     
  15. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    You assume the adminstration actually thought before doing it.

    This is a typical Trump Proud American evil foreigner move that as mentioned above was stronly opposed by his own advisers.

    He's completely incompetent, he's go to ignite a trade war, spike inflation and hurt his precious stock market and he has no idea why.
     

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