Steel and aluminum tariffs...

[boutons_deux]

Tesla cuts China car prices to absorb hit from trade war tariffs

https://uk.reuters.com/article/uk-te...-idUKKCN1NR0A8

[boutons_deux]

Trump's Trade Wars Hurt Everyone in Farm Country

Iowa’s lost tax revenue from personal income and sales taxes alone may range from $111 million to $146 million, Iowa State’s Center for Agricultural and Rural Development estimates. Federal offsets could reduce those losses, but not completely.

Those revenue losses can translate into additional lost labor income — anywhere from $245 million to $484 million, enough income to support 9,300 to 12,300 jobs.

Trump’s backers in the state don’t seem to care much.

they “just need to take a deep breath for a moment” and it’ll “all work out fine.”

“Tariffs are even hitting businesses like mine,” said Steve Pelz, who owns a car wash in Cambridge, Iowa. “I need to have repairs done on my water heater and other machinery, but

the companies I would normally use can’t supply the parts any longer due to the steel tariffs.

I have had to go through other vendors and have parts retrofitted, costing me time and money.”

ReShonda Young, owner of Popcorn Heaven in Waterloo, Iowa agrees. “You might wonder how tariffs and trade wars would affect a gourmet popcorn business,” she said, “but it does.

We use decorative tins for our products, particularly around the holidays, and have seen quite a price hike in these items.”

Greg and Jessica Young of Waterloo Bicycle Works recently told us that prices are going up on items they order, and

invoices from suppliers are adding a line detailing the price increase due to tariff costs.

communities are having issues with infrastructure projects because of price increases in necessary materials.

“But the harder question is what happens in two, three, or 10 years if the trade wars continue?”

By then, he warns,

“even if you get rid of the tariffs, the U.S. may be a smaller player.”


in reality it’s just another broadside against a new class of workers and businesses, all to score political points.

And while they’ve cut taxes for billionaires,

those GOP-backed tariffs and trade wars are just another way of taxing the rest of us here in farm country.

https://www.truthdig.com/articles/tr...-farm-country/

[Pavlov]

Welp.

[boutons_deux]

" just the beginning as GM

prepares for the next economic downturn,

shifting trade agreements under the Trump administration, and

potential tariffs on imported automobiles."

[Pavlov]

I said, those jobs have left Ohio. They’re all coming back. They’re all coming back. Don’t move, don’t sell your house. We’re going to fill up those factories or rip them down and build new ones....After years and years of sending our jobs and wealth to other countries, we are finally standing up for our workers and for our companies....We never again will sacrifice Ohio jobs and those in other states to enrich other countries.

LORDSTOWN, Ohio– General Motors will close its plant in Lordstown early next year.

[boutons_deux]

Watch OH Repugs decline medicaid and provide only minimum, if any, unemployment benefits to GM's fired workers.

[SnakeBoy]

Welp.

Welp what? Is this because of tariffs?

[Pavlov]

Welp what? Is this because of tariffs?

A person briefed on the matter told The Associated Press that the plant being shuttered in Canada is just the beginning as GM prepares for the next economic downturn, shifting trade agreements under the Trump administration, and potential tariffs on imported automobiles.

The official spoke on condition of anonymity because the announcement hasn’t been made public.

lol spoon feeding

[DMC]

Trump dragging automotive technology into the future by the hair of its head.

[Pavlov]

Trump dragging automotive technology into the future by the hair of its head.

Are they going to run on beautiful clean coal?

[SnakeBoy]

lol spoon feeding

lol an anonymous sauce said
lol media narrative

[Pavlov]

lol an anonymous sauce said
lol media narrative

lol straight to conspiracy theories
lol denial

[Spurs Homer]

Are they going to run on beautiful clean coal?

No silly, they will glide on the beautiful infrastructure new roads!

[SnakeBoy]

lol straight to conspiracy theories
lol denial

lol There's no conspiracy theory. GM is just following in the footsteps of Ford who made this same decision a year ago. Nobody buys sedans in the US anymore just look around if you ever leave your house. GM as always is way behind in judging the market, that's why they are so far behind in the race to autonomous vehicles. You can believe it's Trumps fault if it pleases you.

[Pavlov]

lol There's no conspiracy theory. GM is just following in the footsteps of Ford who made this same decision a year ago. Nobody buys sedans in the US anymore just look around if you ever leave your house. GM as always is way behind in judging the market, that's why they are so far behind in the race to autonomous vehicles. You can believe it's Trumps fault if it pleases you.

lol straw man
lol pissy when your question is answered

[DMC]

Everyone run out and buy a GM product. No? Then you're not really concerned.

[RandomGuy]

Everyone run out and personally fight fires. No? Then you're not really concerned.

The stupid... it burns.

[RandomGuy]

Everyone run out and personally arrest criminals. No? Then you're not really concerned.

[RandomGuy]

Everyone run out and inspect food safety. No? Then you're not really concerned.

[RandomGuy]

Everyone run out and personally test water for lead contamination. No? Then you're not really concerned.

[RandomGuy]

Everyone run out and clean up Superfund sites. No? Then you're not really concerned.

[RandomGuy]

I could go on all day.

That argument is ridiculous. It shocks me that even when shown how stupid it is, DMC will keep parroting some version of it, like someone so convinced that the sandwich they made was the best sandwich in the world, and refuses to believe it is a turd even when shown what a turd sandwich looks like.

"but that turd sandwich looks nothing like the one *I* made".

[hitmanyr2k]

Welp what? Is this because of tariffs?

I'm sure the tariffs had a hand in it along with the other factors.

https://www.cnbc.com/2018/07/25/reut...-forecast.html

General Motors Co on Wednesday lowered its full-year 2018 earnings forecast, citing higher steel and aluminum costs, sending its shares down more than 3 percent in pre-market trading.

The No. 1 U.S. automaker said it would be able to partially offset higher commodity costs and the unfavorable effect of currency fluctuations in Brazil and Argentina, but they would have a net impact of around $1 billion on the company's full-year results. Previously GM had expected those costs would total around $500 million.

"Our operating performance was impacted by significant headwinds from commodity costs and currency devaluations in South America," GM Chief Financial officer Chuck Stevens said in a statement, where he described a "more challenging environment" for the rest of the year.

The automaker buys most of its steel from U.S. producers, who have raised prices in reaction to tariffs on imported steel imposed by the Donald Trump administration earlier this year.

When their bottom line is significantly affected you know they're not just going to eat the loss and call it a bad year. "Re-assessing" and job cuts will happen. Stevie Wonder could have seen this coming. Ford announced something similar not long ago.

http://fortune.com/2018/10/09/ford-s...trade-tariffs/

[RandomGuy]

I'm sure the tariffs had a hand in it along with the other factors.

https://www.cnbc.com/2018/07/25/reut...-forecast.html




When their bottom line is significantly affected you know they're not just going to eat the loss and call it a bad year. "Re-assessing" and job cuts will happen. Stevie Wonder could have seen this coming. Ford announced something similar not long ago.

http://fortune.com/2018/10/09/ford-s...trade-tariffs/

Pretty much. Seen some other analysis of tax-planning.

This was the kind of thing that the GOP was hanging their hats on NOT happening when they passed the Super Rich and Corporate Giveaway Act of 2018.

Looks like we borrowed all that money from China for nothing.

[RandomGuy]

China still buys American Soybeans. Third party buyer. It's a s game. China NEEDS protein. Either from ethanol DDG'S or Soybeans. One of the reason China is pushing hard for ethanol (e-10 mandate coming on next year?) Is the DDGS.

China had a huge tariff on DDG that essentially shut imports down that got lifted last fall/this spring.


Keeping Soybeans off the global market for a few months would be a death sentence to China's trade negotiations IMO.


There isn't going to be lower overall demand for US Soybeans. It's who is the middle man that's going to change. Soybean exports have not been bad at all, and they will continue to do well.

https://www.dw.com/de/die-sojabohne-...eit/a-45560078
The soybean as a boomerang in the trade war. (lit: trade dispute, but "trade war" is probably closer to authors intent-RG)

(google translation, pretty close)
Many US farmers now fear failures in soybeans. How right they are with their fears was recently seen in Kansas City. The US Soybean Export Council, an industry association of soybean farmers, had invited to a congress and a representative from China showed them what to expect: Mu Yan Kui, from one of the largest Chinese soybean processors, presented a six-point plan with which China's pig farmers want to reduce the feeding with soy.

27 million tons less

If the plan becomes reality and the typical soy ration for a Chinese pig falls from 20 percent of its feed to 12 percent - and a fifth of soybean soybeans are [not purchased/demanded] in other countries - then China needs 27 million fewer tons of soybeans per year , That's more than 80 percent of US imports to China for the feed material.

This is called "demand destruction".

The increased prices are going to change habits for Chinese pig farmers, and that change will reduce their demand for US Soy.

Permanently.

You are wrong here. It will not be a s game in the long run, and the demand for US soy will not need to be made up by other countries in a s game.

The demand will simply... go away.