January Inflation
- Thread starter SilentBirdHunter
- Start date
mevertsen
Well-known member
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
Well-known member
Potsie
Well-known member
And they were a shit idea then, as well.
BigHornRam
Well-known member
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
Well-known member
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
Well-known member
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
Well-known member
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
Well-known member
Definitely a security issue. Look no further than Europe's dependence on Russian natural gas, and how that played out.
SAJ-99
Well-known member
noharleyyet
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BigHornRam
Well-known member
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.
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His argument about money come back to the US from other countries buying our products replacing jobs lost in the steel industry is flawed and time has shown that has not happened. The majority of US exports are commodities and airplanes. The lost blue collar jobs from NAFTA never came back.
SAJ-99
Well-known member
I don't disagree we have lost manufacturing jobs, but he has a point. Money does come back to the US. It comes in the form of foreign investment in US through financial assets. Hence we have an huge industry that focuses on how to play with money, and it employs a lot of people.
grizzly_
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- Joined
- Feb 18, 2013
- Messages
- 1,257
Exactly, their job is to make money and if their competition becomes more expensive then there's no incentive to beat it.
Do tell.
I heard something about tariffs on pre-packaged frozen poultry or something, but not really more than that and I don't recall the details.
I'm not familiar with these details of the "insane" "bludgeoning." Can you please expound as I couldn't find anything on tariffs prior to this latest trade war on my Google search.
(And, if they were putting tariffs on imports of US products, wouldn't that be a tax that THEY paid, not us?)
Thanks
