Trump to impose tariff on steel and aluminium, geaux Trump!

Not really, for the same reason we shouldn't subsidize American Coal.

I'm fine with investing in new technologies and training such as renewable energies, because in the longer run the investments will pay itself off. Artificially propping up a dying industry or an industry that we're not competitive in, is throwing money away.

 

You mean like how we subsidize the oil companies and the agricultural sector?

 

I'll do what I can to rationalize Trump's thinking.

1. The full policy hasn't been announced. He just announced his announcement. There may be more nuance to what countries get the tariff. And, even if it is a blanket tariff, we can make subsequent carveouts; for example, for Canada in a new NAFTA deal.

2. Some commodities are more strategically vital than others. And, in a scenario of total war, you want healthy domestic industries producing those things so you don't have to rely on trade partners who might not supply you in such a war. This was the Third Reich's economic strategy, trying to prop up German manufacturers so that the Allies couldn't blockade them. You need steel to make tanks and guns and missiles. Maybe you can trust Canada as a bilateral partner, but you can't count on even a friendly EU to be able to put a bunch of steel on ships and haul it across the Atlantic. Ships can be torpedoed.

Still, a bad idea.

 

One good thing about Trump: he generates great memes! The best memes!

 

Maybe he should listen to the DoD then?

https://www.commerce.gov/sites/comm...steel_and_aluminum_policy_recommendations.pdf

U.S. military requirements for steel and aluminum each only represent about 3 percent of U.S. production. Therefore, DoD does not believe that the findings in the reports [of harm to domestic steel and aluminum producers from foreign competition] impact the ability of DoD programs to acquire the steel or aluminum necessary to meet national defense requirements.

 

Not ignoring because they did play a part but also The Smoot-Hawley Tariff had a lot to do with it. Trade wars are serious ****. If China wants to **** us and stop importing, people will see be treating beer cans like found quarters.

 

That's Mexico.

 

I told you it was merely a rationalization, but then you had to go and selectively and prejudicially quote. The letter you linked also says that unfair trade practices erode our manufacturing base and innovation, and it advocates for targeted (not blanket) tariffs. I don't know how you can read that letter and feel good about quoting the one sentence they threw in to moderate the overall tone. I'd point out the quoted sentence sounds like they are talking about normal course of business and not an extreme total war scenario. The DoD thinks Chinese dumping is a risk for national security per this note.

 

Because I was thinking and talking wrt blanket tariffs and completely ignored your point #1. Bad me.

 

Gotta get that other 27.5%. MAGA.

 

You have to think Donald gave a heads up to his buddies to short the market. He can't be this stupid or am I finally falling for the myth of "4x‹⁄‡·‚‚—⁄€‹›fififl Chess" ?

 

THis is the second time he has insider traded off of Trump Presidency, with the first time while holding an official Trump role. What a scumbag.

 

Geez, now Mueller has to add insider trading to all the other crap he has to investigate?

 

Really you got to be kidding. Fact is Canada is the US number one importer of aluminium and steel. Guess what stable genius the US has a trade surplus with Canada. Really shakes my head.