January Inflation

[Irrelevant]

Tariffs work

Have you watched Ferris Bueller lately?

 

[mevertsen]

That's my fear, so in the end what's the benefit of tariffs?

Same thing I'm trying to figure out.

The price will be adjusted no matter what country it comes from, or if it's made domestically.

 

[BigHornRam]

https://penncapital-star.com/briefs/pa-lawmakers-praise-biden-administration-tariffs-on-chinese-steel-and-aluminum-routed-via-mexico/

 

[Potsie]

https://penncapital-star.com/briefs/pa-lawmakers-praise-biden-administration-tariffs-on-chinese-steel-and-aluminum-routed-via-mexico/

And they were a shit idea then, as well.

 

[BigHornRam]

And they were a shit idea then, as well.

No one complained about this "shit idea" back then. Why was that?

 

[brymoore]

No one complained about this "shit idea" back then. Why was that?

I did. Tariffs were wrong under Trump and Biden extending them was wrong.

They both spent money like drunk sailors too. Trump increased the deficit $8T and Biden $4T. Wrong on both accounts.

 

[SAJ-99]

No one complained about this "shit idea" back then. Why was that?

Because those that hated Biden would agree they were a shit idea. The thread would be 3 posts before it turned into Biden-insult memes.

 

[BigHornRam]

Because those that hated Biden would agree they were a shit idea. The thread would be 3 posts before it turned into Biden-insult memes.

I agreed with Biden on this one.

“"For too long, the Chinese government has poured state money into Chinese steel companies,” Biden said in Pittsburgh. “They’re not competing, they’re cheating.”

U.S. Sen. Bob Casey (D-Pa.), along with Sen. John Fetterman (D-Pa.) was among a group of seven Democratic senators who urged the Biden administration to “maintain or increase the tariffs to address China’s continued actions to cheat and undermine our national security.” On Wednesday, Casey called the Wednesday announcement “a victory for Pennsylvania workers and our Nation’s steel industry.”"

 

[SAJ-99]

I agreed with Biden on this one.

“"For too long, the Chinese government has poured state money into Chinese steel companies,” Biden said in Pittsburgh. “They’re not competing, they’re cheating.”

U.S. Sen. Bob Casey (D-Pa.), along with Sen. John Fetterman (D-Pa.) was among a group of seven Democratic senators who urged the Biden administration to “maintain or increase the tariffs to address China’s continued actions to cheat and undermine our national security.” On Wednesday, Casey called the Wednesday announcement “a victory for Pennsylvania workers and our Nation’s steel industry.”"

Suuuuure. It still would have had 3 posts and turned into a meme fest.
Anyway, the real reason the US doesn't produce steel is because we don't use as much steel anymore. Not even the Infrastructure Act did much to change that. China and India increased steel capacity for 40yrs and both are now discovering they have too much capacity. If the goal is to make US producers competitive on a global basis I should tell you it is a pipe-dream. It is more of a national security discussion at this point. We need steel producers and may need to spend money to keep them afloat. We can maybe start by penalizing buyers of cheap foreign steel (the tariff does this to some degree, but not directly) or require the use of US steel in projects with Federal funds (which also seem to be on the DOGE chopping block). Conundrum.

 

[BigHornRam]

Suuuuure. It still would have had 3 posts and turned into a meme fest.
Anyway, the real reason the US doesn't produce steel is because we don't use as much steel anymore. Not even the Infrastructure Act did much to change that. China and India increased steel capacity for 40yrs and both are now discovering they have too much capacity. If the goal is to make US producers competitive on a global basis I should tell you it is a pipe-dream. It is more of a national security discussion at this point. We need steel producers and may need to spend money to keep them afloat. We can maybe start by penalizing buyers of cheap foreign steel (the tariff does this to some degree, but not directly) or require the use of US steel in projects with Federal funds (which also seem to be on the DOGE chopping block). Conundrum.

Definitely a security issue. Look no further than Europe's dependence on Russian natural gas, and how that played out.

 

[SAJ-99]

Definitely a security issue. Look no further than Europe's dependence on Russian natural gas, and how that played out.

Careful, you are starting to disagree with Milton. Economics is hard.

 

[noharleyyet]

I did. Tariffs were wrong under Trump and Biden extending them was wrong.

They both spent money like drunk sailors too. Trump increased the deficit $8T (with strong bipartisan support during a politically exploited pandemic) and Biden $4T. Wrong on both accounts.

*Rhetorical....

Because those that hated Biden would agree they were a shit idea. The thread would be 3 posts before it turned into Biden-insult memes.

*

 

[BigHornRam]

Careful, you are starting to disagree with Milton. Economics is hard.

Milton is dead, and I don't want to be dead.

Edit to add after watching clip. Milton was talking about the Japanese steel industry. A nation that we had defeated in WW2, and they were no longer a military threat. China today is a different can of worms.