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ThinkProgress: Trump confidant dumped millions in steel-related stock last week (Also the Trade War thread)


No Excuses

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You would think someone from business would know tariffs are bad for an economy.

 

 

Why does he want to force us to do something we are bad at? (Produce steel and manufacturing).

 

Personally, id rather be the guy designing the widgets than the guy in the sweatshop crapping them out...

 

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Trade actions like the ones taken by the Trump administration this week are intended to inflict pain, and the steel and aluminum tariffs levied by the Trump administration are unwelcome developments for both industries in Canada.

 

But the harm will fall disproportionately on producers of steel, rather than aluminum — and not only because the tariff on steel (25 per cent) is higher than the one on aluminum (10 per cent).

 

The United States is in a much weaker position to hurt Canadian aluminum producers than it is to punish Canadian steelmakers. Indeed, the likely reason for the lower tariff on aluminum is that the Trump administration realizes it's American consumers, not Canadian producers, who will end up paying for it.

 

In fact, the top U.S. aluminum industry consultant says the tariff has, so far, actually enriched Canadian aluminum producers.

 

That's because they responded to the announcement in March by factoring the tariff into their prices, and then essentially pocketed that 10 per cent surcharge during the two months that Canada enjoyed a tariff exemption.

 

"Trump wrote a cheque for $600 million to Canadian aluminum producers," said Jorge Vasquez of Harbor Aluminum in Austin, Tex., who has served as an adviser to both the U.S. International Trade Commission and the Canadian Trade Tribunal.

 

In effect, Trump's actions transferred more than half a billion dollars from the U.S. economy to Canada's since March.

 

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Just now, visionary said:

 

 

I recall reading an anonymous quote from one of the people trying to educate Trump, saying that he appears incapable of grasping the fact that a trade deficit does not mean one country is making money and one is losing it.  

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2 hours ago, Larry said:

 

I recall reading an anonymous quote from one of the people trying to educate Trump, saying that he appears incapable of grasping the fact that a trade deficit does not mean one country is making money and one is losing it.  

 

I think those sort of subtle complexities simply don't fit into Trump's universe. He inhabits a simple black and white world where, in every single situation...no matter how complex it is, there is one winner and one loser. No more and no less. Any other outcome is simply not possible and to get him to realize that would be like asking a color blind person to explain what red looks like.

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TWITTER Political Reporter Breaks Down Why Trump Will Never Compromise--And We're All Doomed

 

The tweets are dead on about Trump.  When we are in the Great Trump depression in 2019; let his voters suffer the full effects of that.  Pump their communities with opiods so they medicate themselves to death.

 

When we began that recovery from the Trumponomics, may his supporters that are still living, be the last ones to recover.  Also, no assistance to them. No Medicaid, No Welfare, Etc...

Edited by Rdskns2000
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