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I was surprised Trump could simply impose these tariffs with out the backing of Congress.
I don't think I have heard anyone who agrees with this. Quite the contrary,This is going to badly hurt and maybe ruin many business who now are struggling to make a profit.
Even GM and probably all the auto makers who rely on imported aluminum for wheels engines and transmissions will be forced to pay more and guess who gets to pay more for a new truck?
Even worse , trump is forcing China to pay a tariff on solar panels and already.......
Tom Werner of SunPower said the company has started the process to let go 150 to 250 people due to an expected loss of $50m this year alone due to the 30 per cent tariffs
Mr Trump approved the tariff in January 2018 executive order, claiming: "You're going to have people getting jobs again and we're going to make our own product again. It's been a long time”.
The problem: only 14 per cent of the 260,000 people who spend “a majority of their time on solar projects” are in panel manufacturing - most are involved in the installation of panels and associated products and services, according to the New York Times.
The tariff is designed to help US manufacturers of solar panels to compete with lower-priced Chinese imports.
The tariff angered the $28b solar power industry in the US, which gets about 80 per cent of its products through imports
The only good thing I can see from this is the price of scrap aluminum should go up and I have a LOT LOL
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That should help our exports on American cars. Higher production cost from material, not labor. Makes you wonder, where they are going to cut cost.
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(03-03-2018, 01:56 PM)chuck white Wrote: That should help our exports on American cars. Higher production cost from material, not labor. Makes you wonder, where they are going to cut cost.
That should help our exports on American cars.
I guess that's sarcasm? The whole idea is to help our own steel, iron and aluminum makers. But to what end?
A trade war?
BERLIN — The European Union will hit back at the heart of the United States, slapping tariffs on products like Harley-Davidsons, Kentucky bourbon and bluejeans, if President Trump goes ahead with a plan to place tariffs on steel and aluminum imports, the president of the bloc’s executive arm vowed on Friday.
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(03-03-2018, 02:16 PM)tvguy Wrote: (03-03-2018, 01:56 PM)chuck white Wrote: That should help our exports on American cars. Higher production cost from material, not labor. Makes you wonder, where they are going to cut cost.
That should help our exports on American cars.
I guess that's sarcasm? The whole idea is to help our own steel, iron and aluminum makers. But to what end?
A trade war?
BERLIN — The European Union will hit back at the heart of the United States, slapping tariffs on products like Harley-Davidsons, Kentucky bourbon and bluejeans, if President Trump goes ahead with a plan to place tariffs on steel and aluminum imports, the president of the bloc’s executive arm vowed on Friday.
tRump isn't intelligent enough to think things through.
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03-03-2018, 05:01 PM
(This post was last modified: 03-03-2018, 05:02 PM by Valuesize. Edited 1 time in total.)
I don't think he has done it yet. Start at 8 min. Key words to listen for: probably, thinking about it, discussing it, blah blah. We'll see.
President Trump: "I Will impose steel and aluminum tariffs next week."
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(03-03-2018, 05:01 PM)Valuesize Wrote: I don't think he has done it yet. Start at 8 min. Key words to listen for: probably, thinking about it, discussing it, blah blah. We'll see.
President Trump: "I Will impose steel and aluminum tariffs next week."
Yeah I know but it seems like every thing I see on the subject talks like it's a done deal.
Hell even the stock market plunged over this.
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Is a trade barrier considered a wall?
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Electrolux puts $250 million U.S. investment on hold over Trump tariff hike
STOCKHOLM (Reuters) - Sweden’s Electrolux (ELUXb.ST), Europe’s largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after U.S. President Donald Trump announced tariffs on imported aluminum and steel.
https://www.reuters.com/article/us-usa-t...SKCN1GE1P0
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The President is granted the right to impose tariffs in the Constitution.
Dumb idea, but he can do it.
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(03-04-2018, 08:50 AM)bbqboy Wrote: The President is granted the right to impose tariffs in the Constitution.
Dumb idea, but he can do it.
Not in the Constitution, but by acts of Congess.
Quote:Trump can also use the Trade Expansion Act of 1962. Ronald Reagan used this one. It allows Trump to slap targeted tariffs on certain industries, like steel. It's not as broad, but Trump can raise tariffs as high as he wants on specific things.
https://www.quora.com/Does-the-U-S-Presi...on-imports
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Carl Icahn unloaded millions in steel-related stock days before Trump tariff
As the saying goes, timing is everything.
Investor and former regulatory advisor Carl Icahn dumped $31.1 million of stock in a Wisconsin company that relies heavily on steel to make its products last week, days before President Donald Trump said he'd impose stiff tariffs on steel imports.
The disclosure in a regulatory filing, first reported by ThinkProgress, shows Icahn systematically sold off almost 1 million shares of Manitowoc Company (MTW), which makes cranes and other equipment.
The billionaire investor and longtime confidant of Mr. Trump started selling the stock on Feb. 12, according to the filing dated Feb. 22. Icahn began selling before Commerce Secretary Wilbur Ross released a report Feb. 16 that called for a 24 percent tariff.
https://www.cbsnews.com/news/icahn-sold-...mp-tariff/
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(03-04-2018, 01:14 PM)Valuesize Wrote: Carl Icahn unloaded millions in steel-related stock days before Trump tariff
As the saying goes, timing is everything.
Investor and former regulatory advisor Carl Icahn dumped $31.1 million of stock in a Wisconsin company that relies heavily on steel to make its products last week, days before President Donald Trump said he'd impose stiff tariffs on steel imports.
The disclosure in a regulatory filing, first reported by ThinkProgress, shows Icahn systematically sold off almost 1 million shares of Manitowoc Company (MTW), which makes cranes and other equipment.
The billionaire investor and longtime confidant of Mr. Trump started selling the stock on Feb. 12, according to the filing dated Feb. 22. Icahn began selling before Commerce Secretary Wilbur Ross released a report Feb. 16 that called for a 24 percent tariff.
https://www.cbsnews.com/news/icahn-sold-...mp-tariff/
"Icahn began selling before" Gee whizz Wally how could Icahn have known?
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![[Image: _100248611_chart-ussteel-r4oup-nc.png]](https://ichef-1.bbci.co.uk/news/624/cpsprodpb/2DA4/production/_100248611_chart-ussteel-r4oup-nc.png) http://www.bbc.com/news/world-us-canada-43325060
Look at the evil China, dumping all that cheap steel into the American market. 
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