Exactly right -78.9% increase not 50% as Fox stated. In the real business world an obvious mistake or misstatement like that one relegates the offender to third string status. Advice to Fox Business News: 1) review your hiring reqs. 2) Buy a calculator for your employees (just one).
So let's say, Howard, who says he has the money, decides to buy a large stockpile of raw materials before the prices rise too much. So now he has tied up his money in inventory, and his usual customers decide to postpone erecting new office buildings. Now Howard has two problems, he has material, but no business. Then things flip the other way as Donald decides this wasn't a good idea and rolls back the tariff. Prices of raw material come down, but Howard has to go through his inventory before he can buy the cheaper raw materials. Unfortunately, the price of the finished product has dropped so he has to match that or his competitors will get the order; thus he loses money. Afterward, he curses himself for having ever voted for DJT, but it is too late.
Yes, but just chant MAGA a few times, meme about Hillary's buttery males and magically they won't be seeing mass layoffs in the near future. Experts on economy are boring anyway.
All round tariffs were simplistic way to handle transshipping. It's aimed at "motivating" countries like Canada and Mexico not to transship Chinese steel into the US. He should have put restrictions on on quality instead. Would have worked better against transshipping. That steel meant for dumping would end up stuck in Canada and kill of their industries. We can also be more strict on the use of defective steel and the bribery and corruption that goes along with pushing through sub quality steel.
Marc Del The first scenario you described happens all the time in the futures market. That's why it exists. Companies buy materials and goods at today's prices and then takes delivery of said materials at a later date. I hate to say it, but if he can't buy today and pass that savings on to his customers and sell his goods or services then he isn't executing correctly. It may be time for him to bring in some new younger management that can. If you as an American company can't compete in America when your foreign competitors prices rise... then I don't know what else to tell you... You better get on Craigslist and start looking for a job because you won't be around much longer.
You forgot the part about Howard laying off some of those cult followers now known as super elites during that process. But don't worry. As long as Daddy Trump tell them that they are super elites, they will eat that BS with pride and chant MAGA all day.
Are you high? they have absolutely nothing to do with Trump. Those factories and growth was decided Years before the world is in a Good economic rise that's what are affecting the things you see. He is about to destroy everything you just named there.
Gangus Khan you morons are always on about free market. So why the hell do you need to force consumers of steel out of business to protect producers of steel? Modern countries make things with raw materials for increased profit, not chase the production of raw materials for rubbish margins
Just to be clear FTZ stands for Free Trade Zone. It doesn't mean that products within it aren't subject to Dutyies and TAxes. It means they are not considered to be fully imported or exported until they leave the zone. The idea of FTZ is to allow a company to Drop product in a spot prior to selling it. If you are in China and you make a pile of things that you want to sell to South America but you don't have a buyer, you park it in an FTZ until then. If the Buyer is in the US then when it leaves the Zone you pay whatever Duty rate same as you would if it just arrived. If you send it to another Country then you don't pay US Duty. There seems to be a misapplication of the Term and it's relevance doesn't seem to apply to this.
tariffs are a tax on the consumers in the country imposing them. What canada cares about is reduced exports due to higher prices. Canadian tariffs won't affect american consumers, just american countries. American tariffs will affect american consumers and more so since america is putting a tariff on exports from so many countries while each country is putting it on american exports alone.
I'm a steel and aluminum hauling truck owner operator. Prices to haul these products are dirt cheap. Glad to see that we will not be undersold to foreign countries for low prices
Comments about the way this guy talks are irrelevant. The point is that there was no justification whatsoever to raise the tariffs. As the man said the production cost had not changed, so there was no reason to raise the tarrifs. It was just Trump throwing his weight around, trying to look like a busy decision maker and messing with things he knows nothing about. Now look at the mess he has made, what a prick!
@styleyk, like all typical Liberal Marxist, you can not see past your nose... Have you ever played a game of Chess, and if you did, did you ever win against a seasoned player? Some how, I seriously doubt it.
styleyk Trump ran on a platform of instituting steep tariffs to discourage offshoring. You haven't even made the slightest effort to understand what's going on, yet you have such strong opinions. Doesn't that bother you?
IMO, it's Trump trying to strong-arm Canada and Mexico over NAFTA. He thinks his "screw the little guy" technique will work. It won't and we will all suffer for it.
styleyk hey dummie! When China charges is 25% on cars sold in china , and we charge 2% for China cars sold in America its a problem! You have no idea what you are talking about!
The United States has a surplus with Canada we buy all our manufacturing good from the US the good ones anyways we are not your enemies we have good wages just like you so we're not undercutting American jobs
well, stop buying foreign made steel... simple as that. overseas metal suppliers put dozens of US metal companies out of business, the Tariffs will put the locals on even ground against foreign manufacturers. Will it sting, yes, but in the long run its better for US companies and our economy. Buy local, support local, benefit the locals... simple as that.
Our steel manufacturing and others like it need to be protected as a matter of national security. If we lose all or almost all our steel manufacturing jobs to other countries, it can make us extremely vulnerable if a major war breaks out. A country that can't manufacture the weapons it may need is vulnerable especially if the foreign suppliers become our enemies at one time or another.
teebone 21 - Not all steel is the same. Yes, places like China can produce more steel, cheaper than many other places, but... It is inferior quality. Impurities cause rust, weak spots, flex points, and the like. Go talk to people that KNOW steel, that WORK with it, that inspect it. American steel is good quality. Yes, it costs more now, but why is that? It's because American steel manufacturers couldn't compete with cheap overseas steel. Give it a few years and companies will be able to expand their businesses, making better factories and producing more product. Then the price will go down again, because the supply is readily available. Stop and think for a while before making useless comments.
your leader is only a master of bation jackwad. not a clue about economics or foreign relations. he has a tons of idiots that worship him and you yourself prove that point.
I've taken the liberty of providing everyone with a transcript: '' Gnnn gnnn an nat consumer ahhnerstan gnnn gnnn ahhhcanuse the cahntess o hoosgunnado gnnn'' ''wayul dalass innervue ah did gnnn gnnn tawk three ahhhavetabuy gnnn gnnn customer base (!) anxieetee uhfffmmm gnnn discreet plate cheese ahhnam duyin a job watduahh neeed to stahp''
The consumer will pay the price point blank. This will come full circle and wind up being charged to you. I'm already seeing steel prices affect fabricators and prices. Once their products become too expensive, people simply quit buying and they go under.
He was paying $0.38 and now he is paying $0.68 and according to Fox Business, the business side of Fox, that is a 50% increase? I know misrepresenting facts is kind of your thing... but 50% of 38 is 19 so a 50% increase would be $0.57 (100% increase-that’s like double btw-would be $0.76). Your friend is paying $0.30 more than the original $0.38, so 79% more. But hey, that’s better, isn’t it?
David G Very kind of you to think that Canada have such power over USA. I'll call my PM tomorrow morning to let him know that! lol You're a imbecile. USA doesn't do anything if they don't want to, they think they are the center of the world after all!
Flatpack Spiritualism It's probably a dynamic number that was rounded, embellished and a peak that he recalled at the moment. Is that too difficult to realize?
David: You already have a 50/50 trade with Canada. Your problem is China and your so call president did not charge them any tariff. Wake up. Open your eyes and stop kissing his ass. Regarding military, we both need each other. Don't think that you are invincible. If you don't need us, why in that case every war you started in the last 30 years we needed to go help you? Stop kissing his ass. Realise that USA can't produce everything it's needed to be a viable country. You need exchange with the rest of the world and thinking otherwise is just plain stupid. Stop kissing his ass.
Glenn Cook explain that one.... because isolating America enforcing companies to buy American-made when America has too many regulations contrast to our foreign partners agree.... ok so that means higher wages but inflation on products which will do nothing.
The purpose of the tariffs is to protect domestic production. The downside is that consumers will pay higher prices for products in which steel and aluminum are used. Automobiles immediately come to mind.
...and...the other countries will impose tariffs on American goods in order to re-balance the equation. They have already done it, and because there are MANY more consumers in Canada, Europe, and Mexico than there are in the U.S., we are going to loose out on more revenue than they will. Trump essentially helped out a few steel companies at the cost of jacking up the price of steel for any products made from it, all the while making it harder to compete for American goods internationally in the countries that retaliated.
Americans will be going back to work. Prices will still stay the same except the profit margin is going to go down small price to put Americans back to work
John Crum that's the danger, if the world weens itself off the US, it will be difficult to turn back. So fasten your seat belts, for better or worse, our world is changing.
Paul Duffy the thing is no trade war has ever been won by the initiator, especially as nothing that the US produces in heavy manufacturing is unique to the USA. The world can easily do without US goods. Now you have a situation that agreement and respect between major allies thats has been around for decades has been thrown away within a matter of months. Agreements made have been pulled out of with no discussion just on a whim, and certainly the world will not be inclined to trust Trumps administration ever again. The next President will have a hard job trying to rebuild trust And whilst the US is wildly creating chaos, throwing itself into a a trade war, the rest of the world is uniting against the US. They will develop new deals but most harmful to the US they will develop new technologies and leave the US lagging behind. Whilst Trump was touting investment in coal to bring back coal, the rest of the world is developing renewable technologies leaving the US lagging behind. Coal jobs have not returned because no one wants to buy coal. Renewable energy is cheaper. Silicon Valley has an economy equal to the rest of the US combined, it doesn’t take a genius to look at that and see that’s where the money is. Nothing they do cannot already be replicated by the rest of the world, and being the free thinkers who have nothing in common with a country that wants to develop coal they will go off out into the rest of the world. The immigration ban is already hurting them, it’s a small step for them to transfer their jobs and economies to where they can get the people they need. All this inward looking America first is going to leave the US lagging behind the rest of the world. With the rest of the world completely uninterested in anything that the US wants to sell. The much vaunted coal is not being sold, out dated renewable technology is next. US cars are in trouble already because the rest of the world doesn’t want the gas guzzlers produced by the US. All of it is interlinked and the utter chaos is all Trump winging because he doesn’t have a clue how to manage anything. 6 bankruptcies and the US entrusted their country to him. Bad.
When you put high tariffs on imported goods from foreign countries they will in turn put high tariffs on your exported goods. Trump might not have built his wall, but he is doing a damn good job at alienating the USA from the rest of the world. If anything this will this will force manufacturers to move out of the USA to a country where they have access to cheaper steel & aluminium.
If you increase the price of steel and aluminium, then everything that uses steel and aluminium costs more to make. If it costs more to make, then it has to be sold for more to make the same profit... except when things cost more, fewer people want to buy them... Meanwhile, in Europe and Asia things are now cheaper to manufacture because their raw materials are coming from China and that steel is now a bit cheaper because the USA isn't buying as much... so the consumers in the USA start looking at their local auto manufacturers which are looking a bit expensive all of a sudden, and wondering whether Hyundai are all that bad. So yeah - tell us about all those manufacturing jobs in around 12 months time...
Your facts are incorrect. Canada is giving the US until July 1 to remove the tariffs until we impose tariffs on the US. A trade war is a no win for all consumers. Putting a tariff on China I can see, but they will just find a back door into the North American economy.
Please note: "we can do it" vs "we can do it cost-effectively", are two separately discussions! The whole purpose of globalization is to bring out the best efficiencies in the global market place: let the best and the most-efficient ones thrive!
Louis that is correct. Trump said he would put the steel workers back to work. Everyone panics. The price will drop again when we start to make steel here.
Dude, we dont have enough oil specifically and all the other raw materials we need to produce everything we consume. This is why we have trading partners. We are going to see massive inflation as a result. I warned people if Trump reverse everything Obama did, they will be shit hurt.
Yea good luck trying to tell steel workers they will only get minimum wage in order to keep steel affordable, and you can try and open up abandoned steel mills again like those in LA and California, but be expecting strikes
SOUTHCAL THEY HAVE ENOUGH ILLEGAL ALIENS IN CALIFORNIA TO COVER MINIMUM WAGE STEEL JOBS. BUT HOW MANY STEEL MILLS ARE IN LA? I THOUGTH IT WAS THE LAND OF FRUITS AND NUTS LITERALY
tom trump how you gonna have illegal immigrants when sanctuary cities are gonna cease to exist soon since that trump dickrider allen gonna become governer? Everyone gonna get kicked out, so in the end it will be you white muricans that will end up having to take those minimum wage jobs. And oh believe me LA had so many manufacturing jobs. Literally all of LA is littered with hundreds if not thousands of absndoned train tracks that used to be used for msnufacturing and loading, including steel, so yes, steel workers will be slaving over for minimum wage. Get used to it. Because you might end up slaving over in the mill too.
SOUTHCAL YOU ARE RIGHT IF LIBERAL CALIFORNIA CANNOT SOLVE PROBLEMS LIKE HOMELESSNESS PENSIONS IMMIGRATION CRUMBLING ROADS AND DAMS NO WATER COMPANYS FLEEING ETC. THEY SURELY WILL NOT BE ABLE TO FIND A FEW HUNDRED PEOPLE TO WORK THE STEEL MILLS. MAYBE MAXINE WATERS CAN RUN FOR GOVERNOR AND SAVE THE STATE
tom trump let's start with the biggest issue: either you have your caps lock on or you shift key is stuck. When you stop all-capsing i might read your comment and address your flawed thinking.
500? lol, I'm not talking about how many times he failed I'm talking about actually declaring himself bankrupt if you get all those millions from your father and you still manage to go bankrupt and that's, not including all those times his father actually bailed him out so he didn't end up bankrupt. But the fact that you don't seem to understand the difference between failing and bankrupt and managed to pull the 500 figure out of thin air shows why Trump had a record number of uneducated Americans who didn't even finish high school vote for him. Heres a few examples that add up to more than 6 failed Trump businesses off the top of my head: Trump Airlines, Trump Vodka, Trump Mortgage, Trump: The Game, Trump Casinos, Trump Steak, Trump Magazine, GoTrump.com, Trump University, Trump ice, Tour de Trump, let me stop I would tell you to do your own research but lets face it that's never going to happen. According to Forbes only 1/3 of Trump's new businesses succeed, so imagine if he starts 300 businesses and 200 of them failed, that really sounds like "Pretty good odds right there". Oh sorry is negative information about Trump must be fake news right? As someone who thankfully doesnt live in America please vote Trump in again we are loving the circus show led by the clown.
Those bankruptcies are not failures. Businessmen let businesses go bankrupt all the time. It's an old and well known strategy to get rid of debt. They buy or create a business as a front, then leverage debts from other businesses into it and let it go bankrupt. Their other businesses are now debt free. Trump is a businessman, those bankruptcies are not failures.
US sells more steel to Canada than Canada sells steel to the US. Tariffs will hurt US manufacturers that use steel, especially in the short to medium term because the US can't fill that gap in demand for lower cost non-tariff steel. Consumers in the end will pay higher prices.
What? You don't like what he said so you want to attack him personally? He's very successful. And I'm gonna guess you're a Trump supporter. Trump doesn't have a brain. That's why he sticks to catch phrases and repeats himself so much.
As an American, I appreciate that and I sorry about the bullying. But you shouldn't hate Americans regardless. In any case, please join us thoughtful Americans in hating our clown president.
U.S. did it first and your president lies about the deficit when U.S. is having a surplus with Canada in the 1st place. So why is the govt being such an asshole and keep lying about it? Canada should stand up with other countries now and isolate America. It's the right thing to do.
If they don't like the prices for our steel. Buy steel from another vendor! It's simple. Supply and demand. Free enterprise. Does anyone not understand that?
are you american? because steel tarrifs where on INPORT. so now american companies are suffering and all this trade war left the doors wide open for china to sell its steel, cheaper than america can make it. all while the rest of the world put tarrifs on your EXPORTS. so you're selling less. if you're american, enjoy capitalism :D
we have no choice but to buy from another vendor. this country barely produces steel anymore. im not sure even how many mines that once produced the ore are still operating, but maybe under trump we can bull doze some forests and level some mountains and fill some lakes with the tailings as we open new mines im sure it will only take a couple months to get it all up and running..
Sterling, IL home of former Northwestern Steel & Wire once over 6,000 employees now gone. Couldn't keep up with foreign competition. You still see old workshops with Sterling Nails.
Sorry dude. There is a reason why Sterling can't keep up. If it can't evolve does it mean we have to bail them all out? What happened to innovation? Is America going backward to stone ages? To horse carriage riding? No. We move forward and we don't blame others for it. It's a harsh reality and the real world. Unless you want us to coddle all those failing business and bail them all out when our poor is on food stamps.
Regis the demand should change much. Also, stock prices don’t reflect the price they pay for materials. Investors made a lot for sure. They need to reopen manufacturing in America. The fact we can’t even run without foreign help is definitely absurd and it is against national security. Unfair trade where foreign countries are enable to sell cheaper is an obvious bad deal. No American that knows basic math would sign a deal like that.
Right............Steel made by foreign countries who pay their workers 5.00 bucks a day, yet America paying market rate for that sub par steel..........America was getting taken...............Now, we can re-open our steel mills, and put Americans back to work.
@derrick carter Your hitting Europe they don't earn 5 bucks a day they earn 3102 euro's/monthly = 3602 dollars for an low end worker. And they don't pay any less for their unprocessed steel if you make a statement then actually do some research instead of pulling numbers out of your arse. but then again that's what Trump loves to do so in that regard your perhaps right where you wanna be IAW blind to the truth. If it was about being fair then Trump should study where people are earning less or where companies get help from goverments. Europe will now starts to retaliate hope for you your company you own or work for doesn't export to Europe from a red state because those will the first to feel the retaliation.
Let me get this straight. You want to harm your competitors so you rise the price of your goods with taxes. Now, the buyers go to your competitors because they have lower prices. Who did you harm? I think someone didn't here. And I believe I know who it was.
@Alredo idiot........No.......... Tariff's raise the price of the foreign crap, so no more dumping your crap in our country.............it makes opening up our own steel mills viable again................the USA does not need foreign steel....... we can produce it here by American hands, to be used here on American building projects...........No More Foreign crap.......................
Do you really think that, 604cobe. Just answer me something. Who is going to pay the taxes or tariffs? The exporter -from other country- or the importer -in the US-? Tell me.
Alfredo Harvey Mac Kissack im not the most educated in buisness but wtf does tax being paid have to do with anything. Whither the company pays it or the consumer pays it is not the point of implimenting tariffs...
OMGosh... That means that we Americans will have to make our own steel...... You know like we used to do before the steel mills shut down and went to China and Canada.... We will just have to force thousands of unemployed still workers back into the reconditioned mothballed plants..... Ho my, what will we ever do.... lol It is true that the cost of steel will go up for a wile....... But after the mills step up production competition will lower the prices again.... And all those billions of $ will be staying right here in the good ol US of A. The fear mongering from the far left and the globalists are pathetic...
USA invented globalization, and it was all fine as long as the corporate companies achieved good share holder value. Not China took American jobs away, not Mexico, not India. American CEO's took American jobs away. They figured that paying a Cambodian worker 3$ / day generates more profit than paying an American worker 30$/hour. Slavery was never ended, it was exported. 5000 children in a textile factory in Bangladesh, making shirts and pants because you want them cheap. Who is using these conditions ? Do you want to pay higher prices for stuff "made in USA", or do you want them at the same low price and accept that your workers get paid 5$ per day and work 12 hour shifts ? Safety standards in Western companies apply only domestically. Health and safety in Asia simply doesn't exist. In Germany for example around 20% of a product price comes from environmental protection measures. Zero emission. Now look at factory chimneys in China .... Mass production in gone for good, and no tariffs will bring it back.
I am amazed at the lack of economic knowledge in here. First, manufacturing jobs are necessary to employ a part of the population. There are not enough high tech jobs and enough highly educated people for those jobs. Second, you build wealth by turning raw assets into finished products. Third, China has manipulated currency and has a surplus of cheap labor and virtually no regulations for quality or worker safety. Fourth, sometimes you have to impact people to bring them to the table to negotiate new trade deals. The trade deals we have negotiated in the past have been extremely unfriendly to the US and Trump is trying to remedy alot of those. Everybody talks about labor costs being a big factor, but regulations, OSHA, EPA and all the other initials in Washington raise costs as well. Trump is fighting to reduce regulation on one end and level the imports coming in on the other. This is what it takes to undo years of bad agreements.
hi again tom. yeah, about china. the trade war isnt with china. I KNOW ...THATS WHAT I SAID TOO. I CANT...WHAT? also theres other ways to bring adults to the table, something less childish would make people happier.
You are right in large parts. But this steel tariff is actually going to hurt the US manufacturing sector not help it. If their raw materials costs go up (as they have, and will) then that means that either they're going to have to increase their prices in turn (pushing the raise onto US customer, or foreign markets making their products less competitive), or go bust. There was a report on a US company that makes US beer kegs for the US market from US steel. They were incredibly worried because even before this they were working on very thin margins. With US steel prices going up, they're going to go under. Ironically this will mean importing more beer kegs from abroad. The size of the industries that rely on steel dwarves the US steel sector, and most of these imports from the EU at least are of very high quality niche steel materials (this is completely separate from Chinese steel). The US market isn't going to be able to provide that overnight, meaning that these companies like Boeing are just going to have to increase prices or soak up the extra cost of the tariffs. Of course all of this is directly related to the US tariffs. That's before the fallout from the retaliatory tariffs is even considered.
Of course there's going to be a hike at the start of the tariffs, which will offset over time when American producers catch up to the demand. Which if he switches over to American Steel and make that a selling point it would probably improve business as people will buy and pay a little more for American quality over offshore quality.
Sword Coheir okay let me ask you this. You own US steel in Pittsburgh you have millions invested in plants in Canada where you smelt the steel (Because the abundance of natural gas makes it cheaper) ship it to the US for Fabrication and then sell it to both american and canadian markets (2billion surplus with Canada) now you're slapped with 25% Tariffs. You get nailed by both ends selling it back to canada and bringing it down from canada. You have a president that isn't getting re-elected. The tariffs are illegal and will be deemed so by the WTO. Do you spend 10s of millions building smelting plants in the US? Or do you ride it out. Pass the 25% onto consumers, and turn back on the rollers in the Plant you own in Hamilton Ontario and fabricate for your Canadian customers to skip the 25% tariff there? I will tell you exactly what U.S. Steel is going to do. They are going to meet US demand in any way possible, pass it on. Ride it out, and fabricate LESS steel in the US because even with the higher employment costs, With the tariffs and the week canadian dollar right now and manufacturing the steel for their canadian customers in canada will be cheaper. Yes it will cost american consumers more. No it will not create more american jobs. All major steel companies in canada have been bought by American steel companies. They have all the infrastructure in place to Fabricate in canada when they bought the plants but it was cheaper to pay the labour on manufacturing in the US but cheaper to smelt in Canada. That's why canada had 80% of it's steel exported and had to buy it back. Now they'll keep more of their steel at cheaper prices US won't.
Sword Coheir The thing is, you don't have the capacity to "catch up to demand", for various reasons, not least of which are raw supply and affordable means to refine it. Not to mention that Canadian steel and aluminium is so much more abundant and affordable - whoops, I guess not that last part now, sorry not sorry - than your own supply. But, whatever, keep your head up your ass, I'm sure the winning must look great from there. #makeamericagroanagain
T H Canadian here. Thank you. Finally someone who gets it. Also, there are plenty of other foreign markets for our goods, be it steel, aluminium, lumber, oil, or doughnuts. In the end we won't really need the US as much as they'll need us
Sorry dude. There is a reason why American quality is not as good as offshore quality. I reckon there will be no reason to make gd quality steel since there is no competition and Americans will suffer for it. Mark my word.
Gd for you. I pity the Americans who is still dreaming about these fake short term jobs. I really pity them who can't see the big picture. I will most certain pity their families who will suffer along with them.
Screw the threats, and fear mongering. It looked to me like most of these companies are climbing. Tired of Americans cringing in fear of change. Where is the inginuitive spirit that eagerly took on challenges, and then figured out how to overcome them. This is what kept America on top for years. Not hiding in the corner impotency.
Sorry you're wrong. China is catching up rapidly to America. It's all in the matter of pricing, supply and demand. With America out of the picture i reckon China will now replace America's position in the world. The Chinese thanks you for that. Please stay isolated forever.
off-kilter I work in construction and there are a lot of tools and safety items we are not allowed to use if they are made in China and for damned good reasons. Their steel sucks and overall quality is very low. To put it simply you might die or kill someone else.
Steve Smith If you really think about it this is going to be great for both China and its clients, because much like they were forced to do with other goods they will also be forced to improve the quality of their steel in order to satisfy the demand from countries where quality standards are a legal matter (as it happens, for eg. in the EU, where you can't import goods that don't comply the CE regulations), and starting with an attractive price range means China will always need to stay bellow US prices, or else they will lose the clients. So in this scenario the US is doing something really stupid.
yes, but it doesn't stop at steel, does it? Or are you so naive that you think that american workers wont get hurt because they cant sell their product abroad anymore?
Snm Fame first of all its 30 cents, so get your math right. Second, are you dumb enough to think he only buys one steel at a time? No, he buys tons of steel at once, so yes, that 30 cents quickly adds up. Third you complain about your gas going up 50 cent, who do you think is to blame for that?
Ben Aderaw oooh obasterd for making the dollar weak . Selling the internet to globalist and 21 trillion in debt . I remember wen gas was 50 cents a gallon in the 90’s and thanks for doing my math I was thinking of something else . But I buy gallons of gas daily so I too want to complain then . Duh bish
I am a fan of Trump but we should have these conversations. Tarrifs are a big deal. And why make fun of this man's speach? He is only calmly giving his side. Trump 2020!
If trump doesnt consider tarrifs he loses a bargoning chip. The stock market is up because of consumer convidence because Trump is president. We hold most of the cards at the foriegn table and should flex our muscles.
Trump just did China a great big favor, or maybe it was part of the deal where China is paying $500 million to Trump so he will save Chinese jobs. China wins!
ben cruz EU Canada and Mexico buy steel from China cheap. China and UK set up shop in Canada and Mexico to gain access to US and avoid fair trade deal directly with US. Our jobs are now in China UK and Mexico and they get free access to US market. The only way that is good is if you want those countries to be successful while screwing the American people. Multinational corporations charge American consumers sometimes 100 percent more than they pay for same goods. Too bad trillions of dollars at stake and Trump is taking it back to America for American workers. Works great with corporate tax cuts so American business can come back and invest in America. That is Trumpanomics and Makes America Great Again.
I am confused here. Howard Steel now pays more for a pound of steel - so he is not using USA-made steel? And why is he paying for steel to begin with if he is a steel manufacturer? Or he is making scaffolding out of a Chinese-made steel? In this case he is not a steel manufacturer.
2 things here. I'll start with the last point because it is a good one and quicker to answer. Howard Steel is actually a steel fabricator, not a steel manufacturer. It's an easy mistake to make. So he buys raw steel then fabricates it to make his product, like scaffolding, as used on the statue of liberty. They'll probably also bend steel, shape it, galvanize it etc. Lots of construction industry folk use steel, but not in it's raw form. That's where his company comes in. The number of companies that use steel rather than make it is much bigger. Think construction companies, car manufacturers, beer keg makers, fabricators, airplane makers, anyone who uses steel or any form of it to make something. They employ many more people than the actual steel manufacturers. So your 2nd question. The costs went up because supply and demand. The market is generally in equilibrium. So everyone that needs steel has a seller they go to for the best price they can find. Now if a portion of those sellers now have to charge 25% more, then the buyers look elsewhere to see if they can get it cheaper. So it might be that it was better for a company before to buy Canadian steel, but it now might be cheaper to buy US steel. So now the US steel company can seller to their existing customers, and these potential new ones. But they can't increase supply overnight, so they make the two interested parties bid to see who will buy it for the most. So the price they can sell for goes up, and the price eventually becomes too expensive for one party, and they bow out. This is why the price of US steel has gone from $0.30 to $0.68. Bidding wars between consumers of steel. Ironically because the price of US steel has gone up, this now makes Canadian steel potentially still cheaper to buy for most companies even with the 25% tariff. So what does that mean? Well US steel companies make more (just the owners not the workers), and US manufacturer pay more. Meaning US made goods will cost more to make, and so cost more to buy for US and international consumers. It's hard to tell the exact effects, but it's why Paul Ryan the Republican Speaker, said tariffs are bad because they have a tendency to spiral out of control and have effects no one wanted. This is also before we talk about retaliatory tariffs put on US exports especially agricultural exports (which will hurt US farmers). Trump has already talked about retaliating to these with tariffs on car imports (which will provoke more retaliatory tariffs by Canada, Mexico & the EU). This incidentally is how the Great Depression started. The slow, and then very fast decline in world trade.
OK lets say for example lets say he can by steal from china for $0.30 but it would cost him say $0.35 to buy in the US.With the 25% traffifs chinese steal would be $0.375.. and US steel would be $0.35 That means he is paying $0.35 for something that would have cost $0.30 without traffifs
Speaking for Democrats.....no, we aren't. Even though the retaliatory tariffs mostly targeted goods from Republican states, it still hurts us indirectly. Our country's economy has always and will always be interconnected. We're in the same boat. This ignorant demagogue Republicans have elected to be their savior is driving us all into the ground....and the worst part about it is that I don't think any of them care as long as they get to give the finger to a few liberals.
Someone needs to put a Tariff on James Howards mouth, dude cant even talk. He sounds like he's bumped his head on steel rods everyday at work for the past 50 years.
Vendicar Decarian1 so because he has a southern drawl and wasn't reading from a prepared statement he's a moron? A highly successful businessman who has always bought American material, providing high end jobs and products. Fucking witless wastes like you, trolling news stories are the actual problem.
These are called taxes. This is what you have been avoiding for years and that's why they are so high. A true businessman would take from his bottom line to pay it; not from his workers. If they cut jobs claiming they can't afford it; Look at their profit margin and CEO pay for the truth. Don't just accept high prices.
You need to ask yourself why we don't do that anymore because we use to. Once you understand what happened you will then understand why we can't go back to that method.
Sound like a page from A.D. 1827 Economy Text Book There is long list of examples it doesn't work. The 1929 Depression is a great example. Lets drunk drive again this time it might work.
because thats expensive. you love capitalism so much you will buy everything from china. also if you're just making it there and selling it there, there is 0% growth. thats the opposite of how trade works. if i buy the land for potatoes, i water them, i grow them, and then i sell those potatoes to myself, how much money will i make? trade works on selling the surplus. every country is good at making one thing (or more). we all trade amongst ourselves and we all get more value at the end. thats how the world works. everything and everyone is connected.
because at this point the average american TAXPAYER doesnt care about money they just want to survive, and are speaking with their money and votes if i grow my potatoes and sell them to myself i will have a full belly, u can keep ur money 2 parts to an economy 1 more important than the other, the domestic
the average american taxpayer doesnt care about money? what do you think you pay taxes in? unicorns? well then the average american should ask the 1% to pay more taxes then. if you grow your potatoes you gotta own land and use water. all of that costs money. how do you have money if you only sell potatoes to yourself? and eventually the land cant grow potatoes anymore and then you got nothing. the land is an allegory for resources. if you just build and sell to yourself not only you have no net growth you are also depleting resources at the same time also, labor costs are higher in america, so anything you make will cost more. still dont care about money cid? because the average american unicorn payer just had an increase in expenses.
HOW THERE THE STELLE WORKERS ALLOWED ITS GOVT. TO STALLED THERE JOBS AND WORK .?????? . WHATS THE POINT OF HAVING & 💰 PAYING FOR UNIONS , REPRESENTATION ?? . OR HAVE THEY SOLD OUT ??? . 😢💔💀☠️💀😳😱👹..
I taught that the TARIFFS were to prevent cheep steel to flood our markets, so we could sale our steel at the reasonable cost to American consumer and to the consumer world abroad.
When our country collapses financially - Citizens don't have the luxury of walking away and writing it off with the attitude that it's someone else's problem
I used to work for US STEEL TUBULAR DIVISION as a FINISHER TECH/OPERATOR and they work very hard making couplings for oil drilling rigs. This is not good when the US jobs are in jeopardy because of these tariffs that 45 is creating. For those who voted him in be prepared to finally realize that he don't care for no one but himself.
We buy steel from these people and I can tell you these people steel prices is cheaper than anywhere you go they treat us fair this is a good company to buy from
I own a small fabrication shop that this will obviously affect also. But what people are forgetting is that this tariff will tax "raw" product. If a potential customer wants to skirt that price hike is you can have the part made in china or just partially made which doesnt constitute a raw product anymore so the steel mills will still loose out on that sale of raw steel here in the U.S. . Now some things like beams for buildings and bridges would still be done here but thats not to say Chinese manufacture or another country wont figure that loop hole out and say " Wait if we punch one hole in that beam its no longer a raw product and now is a manufactured part. Even if suppliers here just turn around and cut off that end and sell it as a whole.
Incorrect - the whole point of steel tarrifs was not to stop dumping. That was one of the points. There's another point and it is national security - keeping a steel and aluminum manufacturing capability within our own country - Hence, "A country without steel isn't a country" - Well, a country without steel isn't a world power, I mean. So, I hope some of the network hosts can also consider that point.
I'm thrilled James Howard got what he voted for. If he thought the world would just bend the knee in fear, well, tough shit, that's not how the world works.
Of course it has risen in price. The original level was depressed by Chinese and NAFTA steel dumping. The supply is now reduced but demand has risen, in line with the economic upturn. The home producers are making higher profits on the back of this. That's where he should be directing his ire at.
Bullshit. NAFTA is whatever the US negotiators agreed to. The US can not produce enough steel to satisfy the US demand so the US has to import. Trump's tariffs increase the cost to US manufactures and consumers and military. This will result in lay-offs of American workers and have no effects on Canadian steel producers, we just increase our sales to others. The US is not the only market and is not expanding like the markets. It is shrinking because US corps are outsourcing their work to other countries.
Before the Civil war the entire government was funded by tariffs. There were no income taxes. After the Tariffs were ended jobs and industry went overseas. History says tariffs are good for our country.
Maybe now America can have its steel industry back. In no time the USA will ramp up domestic production. Long term great for America. The fact that this company sold out the America worker years ago using foreign steel is their problem. As a working loyal American I have no tears for this poor CEO.
I guess this was the only guy who wouldn't give his true feelings about Trump, otherwise Fox News would have gotten someone who could speak coherently.
Everyone is so eager to talk about the problem these tariffs are causing but no one is eager to talk about the root. WE SHOULDN'T HAVE BEEN IMPORTING ALL OF OUR STEEL TO BEGIN WITH! If American businesses were relying on American manufacturing, we never would have had this issue. Look at Carnegie and Rockefeller, a huge portion of America's wealth in the past century was generated by American manufacturing. Now that we outsource all of our resources to foreigners, we are making them rich and ourselves weak! Of course tariffs look like they hurt us *in the now* but the first step to fixing a problem is always painful. Stop focusing solely on the present and recognize the path to the future!
One selfish business man who doesn't understand we are no longer self sufficient in providing steel and aluminum. Our companies which provided that material are mostly gone, along with their employees. If we are to regain that business we must stop the dumping of other countries. Freedom is not free!!
So now the price of steel is going up everywhere? So it's more viable for Canadian steel to be shipped off to Japan China and Korea? In the end everything is gonna cost more... we're gonna have crazy inflation if they keep this shit up.
So y'all can't understand that WE pay MORE in tarriffs than we receive? Y'all act like you would be willing to trade a dollar for a quarter when you know good and well you wouldn't.
Increasing tariffs will force steel jobs to come back to the US. Why are people complaining about having more jobs? Because it costs more in the short term?
The producers of steel in the US have upped their prices because cheap steel is no longer available. So what do we really want, other countries dumping their steel in the US which makes prices of certain goods cheaper and local US companies going out of business, or do we want to build up the American steel industry by taxing cheap imports to make the playing field equal? If the US was in a major war, we would be in trouble because we do not have a steel industry that could support a war effort needed to defeat a "large" enemy. This is not an easy problem to fix.
The effect the tariffs will have is that companies will simply move their production outside of the US to get cheaper steel as the US isn't even close to being capable of producing enough steel atm.
as a resident of the pittsburgh area where some factories are opening after decades we aren't minding these tariffs....this guy doesn't run a steel company he runs a company that makes products out of steel .....the cheapest he can find and the more autmation the better fuck this guy and all the news twisters .....this is gonna be great for the us and great for whoever else gets our high quality steel
My take was that the tariff is to encourage domestic production; that creates jobs and, to put it lightly, self-reliance. What happens when someone decides they want to put a choke on us? - It's pretty easy when the main supply is governed by someone else. Spin-offs of re-invigorating mills include everything from restaurants to accounting to engineering to R&D. That's how it works people; everybody else in the world knows it. Why do you think you don't see places like China serving themselves? It's not as innocent and loving as marketing would have you believe.
Why doesn't Trump consult with these businesses and consumers before executing any trade decision? Does he not think of the ripple effects and consequences?
The problem is: we have a lack of educated people in the U.S. so they have no idea what is good economics and bad, yet they can all vote the same. Anybody with even basic economic knowledge would know this is a terrible idea.
Tariffs are another tax on people and promotes lack of competitiveness in domestic companies because they are protected. Anyway, tariffs should not exist in international commerce for the sake of consumers.
.38 cents to .68 cents is not a 50% increase. Get your facts straight !
ikr ? when i heard it like, dude that like 90% percent increase.
You really cannot expect FOX to do real math. Too complicated.
Threecreation Leather
yes moron,,,it's more than 50 percent,,,y'all trumproaches need education
Its a 78.9% mark up dumbass
Exactly right -78.9% increase not 50% as Fox stated. In the real business world an obvious mistake or misstatement like that one relegates the offender to third string status. Advice to Fox Business News: 1) review your hiring reqs. 2) Buy a calculator for your employees (just one).
So let's say, Howard, who says he has the money, decides to buy a large stockpile of raw materials before the prices rise too much. So now he has tied up his money in inventory, and his usual customers decide to postpone erecting new office buildings. Now Howard has two problems, he has material, but no business. Then things flip the other way as Donald decides this wasn't a good idea and rolls back the tariff. Prices of raw material come down, but Howard has to go through his inventory before he can buy the cheaper raw materials. Unfortunately, the price of the finished product has dropped so he has to match that or his competitors will get the order; thus he loses money.
Afterward, he curses himself for having ever voted for DJT, but it is too late.
Yes, but just chant MAGA a few times, meme about Hillary's buttery males and magically they won't be seeing mass layoffs in the near future. Experts on economy are boring anyway.
All round tariffs were simplistic way to handle transshipping. It's aimed at "motivating" countries like Canada and Mexico not to transship Chinese steel into the US.
He should have put restrictions on on quality instead. Would have worked better against transshipping. That steel meant for dumping would end up stuck in Canada and kill of their industries. We can also be more strict on the use of defective steel and the bribery and corruption that goes along with pushing through sub quality steel.
Marc Del The first scenario you described happens all the time in the futures market. That's why it exists. Companies buy materials and goods at today's prices and then takes delivery of said materials at a later date. I hate to say it, but if he can't buy today and pass that savings on to his customers and sell his goods or services then he isn't executing correctly. It may be time for him to bring in some new younger management that can. If you as an American company can't compete in America when your foreign competitors prices rise... then I don't know what else to tell you... You better get on Craigslist and start looking for a job because you won't be around much longer.
You forgot the part about Howard laying off some of those cult followers now known as super elites during that process. But don't worry. As long as Daddy Trump tell them that they are super elites, they will eat that BS with pride and chant MAGA all day.
the end user will pay the cost, as always.
Are you high? they have absolutely nothing to do with Trump.
Those factories and growth was decided Years before the world is in a Good economic rise that's what are affecting the things you see.
He is about to destroy everything you just named there.
Gangus Khan dumbass.
Gangus Khan you morons are always on about free market. So why the hell do you need to force consumers of steel out of business to protect producers of steel? Modern countries make things with raw materials for increased profit, not chase the production of raw materials for rubbish margins
Just to be clear FTZ stands for Free Trade Zone. It doesn't mean that products within it aren't subject to Dutyies and TAxes. It means they are not considered to be fully imported or exported until they leave the zone. The idea of FTZ is to allow a company to Drop product in a spot prior to selling it. If you are in China and you make a pile of things that you want to sell to South America but you don't have a buyer, you park it in an FTZ until then. If the Buyer is in the US then when it leaves the Zone you pay whatever Duty rate same as you would if it just arrived. If you send it to another Country then you don't pay US Duty. There seems to be a misapplication of the Term and it's relevance doesn't seem to apply to this.
tariffs are a tax on the consumers in the country imposing them. What canada cares about is reduced exports due to higher prices. Canadian tariffs won't affect american consumers, just american countries. American tariffs will affect american consumers and more so since america is putting a tariff on exports from so many countries while each country is putting it on american exports alone.
Can you guys hear Hillary's laugh in the background ...so funny
I'm a steel and aluminum hauling truck owner operator. Prices to haul these products are dirt cheap. Glad to see that we will not be undersold to foreign countries for low prices
It's so funny (but not funny) how Fox Business seems completely 'fair and balanced' while Fox News is a total slanted joke... Anyone else see this?
Because numbers dont LIE.
Comments about the way this guy talks are irrelevant. The point is that there was no justification whatsoever to raise the tariffs. As the man said the production cost had not changed, so there was no reason to raise the tarrifs. It was just Trump throwing his weight around, trying to look like a busy decision maker and messing with things he knows nothing about.
Now look at the mess he has made, what a prick!
@styleyk, like all typical Liberal Marxist, you can not see past your nose... Have you ever played a game of Chess, and if you did, did you ever win against a seasoned player? Some how, I seriously doubt it.
styleyk Trump ran on a platform of instituting steep tariffs to discourage offshoring. You haven't even made the slightest effort to understand what's going on, yet you have such strong opinions. Doesn't that bother you?
IMO, it's Trump trying to strong-arm Canada and Mexico over NAFTA. He thinks his "screw the little guy" technique will work. It won't and we will all suffer for it.
Derrick Carter One of the world's best chess players was a communist.
styleyk hey dummie! When China charges is 25% on cars sold in china , and we charge 2% for China cars sold in America its a problem! You have no idea what you are talking about!
The United States has a surplus with Canada we buy all our manufacturing good from the US the good ones anyways we are not your enemies we have good wages just like you so we're not undercutting American jobs
some... buy from usa.. but since this tariff I believe steel car will be buying from a cheaper source. we cant afford to be america's crutch..
Remember . Remember and vote in 2020
We’ve raised steel prices, lets bring on a steel purchaser and get his thoughts.
- the steel price was raised
Thanks Fox for the huge insight, wow
wow thanks for the info, now its cheaper to buy it from germany.. lol
well, stop buying foreign made steel... simple as that. overseas metal suppliers put dozens of US metal companies out of business, the Tariffs will put the locals on even ground against foreign manufacturers. Will it sting, yes, but in the long run its better for US companies and our economy. Buy local, support local, benefit the locals... simple as that.
Ramiro M you've got to be the dumbest banana in the bunch. The world is a global economic system. There's no going back in time.
Ramiro M well said.
Our steel manufacturing and others like it need to be protected as a matter of national security. If we lose all or almost all our steel manufacturing jobs to other countries, it can make us extremely vulnerable if a major war breaks out. A country that can't manufacture the weapons it may need is vulnerable especially if the foreign suppliers become our enemies at one time or another.
teebone 21 - Not all steel is the same. Yes, places like China can produce more steel, cheaper than many other places, but... It is inferior quality. Impurities cause rust, weak spots, flex points, and the like. Go talk to people that KNOW steel, that WORK with it, that inspect it. American steel is good quality. Yes, it costs more now, but why is that? It's because American steel manufacturers couldn't compete with cheap overseas steel. Give it a few years and companies will be able to expand their businesses, making better factories and producing more product. Then the price will go down again, because the supply is readily available. Stop and think for a while before making useless comments.
Wait...Republicans don't like the free market? Next they'll be communist if daddy Trump seizes the means of production
they asked him how these tariffs effects his business and he went off on a complete tangent. #missedthepoint
tx pap this guy it's a lot smarter then the leader we Have
yea ok.. Our president is a master of many things. he's a change agent
He answered it maybe you didn’t get it
your leader is only a master of bation jackwad. not a clue about economics or foreign relations. he has a tons of idiots that worship him and you yourself prove that point.
Trump is just winging it. He starts a sentence and doesn’t even how it’s going to end.
I've taken the liberty of providing everyone with a transcript:
'' Gnnn gnnn an nat consumer ahhnerstan gnnn gnnn ahhhcanuse the cahntess o hoosgunnado gnnn''
''wayul dalass innervue ah did gnnn gnnn tawk three ahhhavetabuy gnnn gnnn customer base (!) anxieetee uhfffmmm gnnn discreet plate cheese ahhnam duyin a job watduahh neeed to stahp''
Orbit Snoog Lol
Okay....that's pretty funny.
Lol!
Thank you....lmao..
Thank you. At first I thought it was bnnn bnnn an gat consumer.. I appreciate the clarification.
The consumer will pay the price point blank. This will come full circle and wind up being charged to you. I'm already seeing steel prices affect fabricators and prices. Once their products become too expensive, people simply quit buying and they go under.
0:36 Great math, Fox Business... $0.38 to $0.68 is almost 100%, not 50%! You're about as accurate with your math as Fox News is on politics.
He was paying $0.38 and now he is paying $0.68 and according to Fox Business, the business side of Fox, that is a 50% increase? I know misrepresenting facts is kind of your thing... but 50% of 38 is 19 so a 50% increase would be $0.57 (100% increase-that’s like double btw-would be $0.76). Your friend is paying $0.30 more than the original $0.38, so 79% more. But hey, that’s better, isn’t it?
Maths is not Fox's forte as you can see.
off-kilter neither is reality
David G Very kind of you to think that Canada have such power over USA. I'll call my PM tomorrow morning to let him know that! lol You're a imbecile. USA doesn't do anything if they don't want to, they think they are the center of the world after all!
Flatpack Spiritualism It's probably a dynamic number that was rounded, embellished and a peak that he recalled at the moment. Is that too difficult to realize?
David: You already have a 50/50 trade with Canada. Your problem is China and your so call president did not charge them any tariff. Wake up. Open your eyes and stop kissing his ass.
Regarding military, we both need each other. Don't think that you are invincible. If you don't need us, why in that case every war you started in the last 30 years we needed to go help you? Stop kissing his ass.
Realise that USA can't produce everything it's needed to be a viable country. You need exchange with the rest of the world and thinking otherwise is just plain stupid. Stop kissing his ass.
This means opening steel refineries and keeping things in America, Not Mexico or overseas...
Glenn Cook this means ur getting fired 😅
Glenn Cook explain that one.... because isolating America enforcing companies to buy American-made when America has too many regulations contrast to our foreign partners agree.... ok so that means higher wages but inflation on products which will do nothing.
203 cappadon it is time for the CEO's cut back way to high salaries...
The purpose of the tariffs is to protect domestic production. The downside is that consumers will pay higher prices for products in which steel and aluminum are used. Automobiles immediately come to mind.
...and...the other countries will impose tariffs on American goods in order to re-balance the equation. They have already done it, and because there are MANY more consumers in Canada, Europe, and Mexico than there are in the U.S., we are going to loose out on more revenue than they will. Trump essentially helped out a few steel companies at the cost of jacking up the price of steel for any products made from it, all the while making it harder to compete for American goods internationally in the countries that retaliated.
Or course the owners like it! And soon they can pollute as much as they want as well
Americans will be going back to work. Prices will still stay the same except the profit margin is going to go down small price to put Americans back to work
John Thompson lul yes, the companies will shoulder the increased prices. Also, they give out free corvettes and jetliners =)
This guy is buying Foreign Steel that is why he is suffering. Buy American steel, you creep. He just is not a good businessman.
The world's finally figuring out they don't need the u s
John Crum that's the danger, if the world weens itself off the US, it will be difficult to turn back. So fasten your seat belts, for better or worse, our world is changing.
John Crum Good! Now get the Fuck out and stay out scumbag
John Crum how so?
Paul Duffy the thing is no trade war has ever been won by the initiator, especially as nothing that the US produces in heavy manufacturing is unique to the USA.
The world can easily do without US goods.
Now you have a situation that agreement and respect between major allies thats has been around for decades has been thrown away within a matter of months.
Agreements made have been pulled out of with no discussion just on a whim, and certainly the world will not be inclined to trust Trumps administration ever again. The next President will have a hard job trying to rebuild trust
And whilst the US is wildly creating chaos, throwing itself into a a trade war, the rest of the world is uniting against the US.
They will develop new deals but most harmful to the US they will develop new technologies and leave the US lagging behind. Whilst Trump was touting investment in coal to bring back coal, the rest of the world is developing renewable technologies leaving the US lagging behind. Coal jobs have not returned because no one wants to buy coal. Renewable energy is cheaper.
Silicon Valley has an economy equal to the rest of the US combined, it doesn’t take a genius to look at that and see that’s where the money is. Nothing they do cannot already be replicated by the rest of the world, and being the free thinkers who have nothing in common with a country that wants to develop coal they will go off out into the rest of the world.
The immigration ban is already hurting them, it’s a small step for them to transfer their jobs and economies to where they can get the people they need.
All this inward looking America first is going to leave the US lagging behind the rest of the world. With the rest of the world completely uninterested in anything that the US wants to sell. The much vaunted coal is not being sold, out dated renewable technology is next. US cars are in trouble already because the rest of the world doesn’t want the gas guzzlers produced by the US.
All of it is interlinked and the utter chaos is all Trump winging because he doesn’t have a clue how to manage anything. 6 bankruptcies and the US entrusted their country to him. Bad.
John Crum you are absolutely spot on they should build a wall around the USA that will stop them thinking they are the centre of the universe lol
fox cant understand why americans deserve to have any manufacturing jobs... im glad i canceled my cable tv
No Hope Equals no fear stupid
When you put high tariffs on imported goods from foreign countries they will in turn put high tariffs on your exported goods. Trump might not have built his wall, but he is doing a damn good job at alienating the USA from the rest of the world.
If anything this will this will force manufacturers to move out of the USA to a country where they have access to cheaper steel & aluminium.
Youre still making them money by watching this dumbass 😂
If you increase the price of steel and aluminium, then everything that uses steel and aluminium costs more to make. If it costs more to make, then it has to be sold for more to make the same profit... except when things cost more, fewer people want to buy them... Meanwhile, in Europe and Asia things are now cheaper to manufacture because their raw materials are coming from China and that steel is now a bit cheaper because the USA isn't buying as much... so the consumers in the USA start looking at their local auto manufacturers which are looking a bit expensive all of a sudden, and wondering whether Hyundai are all that bad. So yeah - tell us about all those manufacturing jobs in around 12 months time...
Guero Coolero , how is that? i dont pay for UA-cam
That is the most epic scaffold I have ever seen. Wow.
Your facts are incorrect. Canada is giving the US until July 1 to remove the tariffs until we impose tariffs on the US.
A trade war is a no win for all consumers. Putting a tariff on China I can see, but they will just find a back door into the North American economy.
We in America should be able to produce everything we need and not have to depend on other countries
Please note: "we can do it" vs "we can do it cost-effectively", are two separately discussions! The whole purpose of globalization is to bring out the best efficiencies in the global market place: let the best and the most-efficient ones thrive!
Lois Holmes makes sense if you've never taken economics 101. Ya big dummy.
Louis that is correct. Trump said he would put the steel workers back to work. Everyone panics. The price will drop again when we start to make steel here.
The only way that can be done is if we automate
Dude, we dont have enough oil specifically and all the other raw materials we need to produce everything we consume. This is why we have trading partners. We are going to see massive inflation as a result. I warned people if Trump reverse everything Obama did, they will be shit hurt.
Yea good luck trying to tell steel workers they will only get minimum wage in order to keep steel affordable, and you can try and open up abandoned steel mills again like those in LA and California, but be expecting strikes
SOUTHCAL THEY HAVE ENOUGH ILLEGAL ALIENS IN CALIFORNIA TO COVER MINIMUM WAGE STEEL JOBS. BUT HOW MANY STEEL MILLS ARE IN LA? I THOUGTH IT WAS THE LAND OF FRUITS AND NUTS LITERALY
tom trump how you gonna have illegal immigrants when sanctuary cities are gonna cease to exist soon since that trump dickrider allen gonna become governer? Everyone gonna get kicked out, so in the end it will be you white muricans that will end up having to take those minimum wage jobs. And oh believe me LA had so many manufacturing jobs. Literally all of LA is littered with hundreds if not thousands of absndoned train tracks that used to be used for msnufacturing and loading, including steel, so yes, steel workers will be slaving over for minimum wage. Get used to it. Because you might end up slaving over in the mill too.
SOUTHCAL YOU ARE RIGHT IF LIBERAL CALIFORNIA CANNOT SOLVE PROBLEMS LIKE HOMELESSNESS PENSIONS IMMIGRATION CRUMBLING ROADS AND DAMS NO WATER COMPANYS FLEEING ETC. THEY SURELY WILL NOT BE ABLE TO FIND A FEW HUNDRED PEOPLE TO WORK THE STEEL MILLS. MAYBE MAXINE WATERS CAN RUN FOR GOVERNOR AND SAVE THE STATE
tom trump let's start with the biggest issue: either you have your caps lock on or you shift key is stuck. When you stop all-capsing i might read your comment and address your flawed thinking.
SouthCalifas619 you mean United States" because America is a continent.
So much winning, if this is how Trump negotiates absolutely no surprise why he went bankrupt so many time.
6 times out of 500 I will go with those odds. 6 failures verse 500 successful ones. Pretty good odds right there.
500? lol, I'm not talking about how many times he failed I'm talking about actually declaring himself bankrupt if you get all those millions from your father and you still manage to go bankrupt and that's, not including all those times his father actually bailed him out so he didn't end up bankrupt. But the fact that you don't seem to understand the difference between failing and bankrupt and managed to pull the 500 figure out of thin air shows why Trump had a record number of uneducated Americans who didn't even finish high school vote for him. Heres a few examples that add up to more than 6 failed Trump businesses off the top of my head: Trump Airlines, Trump Vodka, Trump Mortgage, Trump: The Game, Trump Casinos, Trump Steak, Trump Magazine, GoTrump.com, Trump University, Trump ice, Tour de Trump, let me stop I would tell you to do your own research but lets face it that's never going to happen.
According to Forbes only 1/3 of Trump's new businesses succeed, so imagine if he starts 300 businesses and 200 of them failed, that really sounds like "Pretty good odds right there". Oh sorry is negative information about Trump must be fake news right?
As someone who thankfully doesnt live in America please vote Trump in again we are loving the circus show led by the clown.
1ondon
, please forgive the Trump supporters. They think 6/500 is approximately 1/3. Math and logic are not their strengths.
1ondon Hey moron he never filed bankruptcy on a personal level. He filed it on companies.
Those bankruptcies are not failures. Businessmen let businesses go bankrupt all the time. It's an old and well known strategy to get rid of debt. They buy or create a business as a front, then leverage debts from other businesses into it and let it go bankrupt. Their other businesses are now debt free. Trump is a businessman, those bankruptcies are not failures.
US sells more steel to Canada than Canada sells steel to the US. Tariffs will hurt US manufacturers that use steel, especially in the short to medium term because the US can't fill that gap in demand for lower cost non-tariff steel. Consumers in the end will pay higher prices.
Whenever I ordered steel for the GGB, it was U.S. manufactured and with mill certification. Original steel from Bethlehem Iron.
I hope he's not the brains behind his business.
Joe Easley 😂😂😂😂😂 agree
He has a southern accent and a speech impediment. Has nothing to do with intellect, but apparently an easy target for a shallow keyboard bully.
why because he had something happen to him and can't talk right, I think he is just as smart
#Joe Easley
He's a wealthy business owner, you're an idiot with a computer.
What? You don't like what he said so you want to attack him personally? He's very successful. And I'm gonna guess you're a Trump supporter. Trump doesn't have a brain. That's why he sticks to catch phrases and repeats himself so much.
I don't hate Americans but stop bullying your best friend
As an American, I appreciate that and I sorry about the bullying. But you shouldn't hate Americans regardless. In any case, please join us thoughtful Americans in hating our clown president.
Americans are not doing anything it's the government.
Deplorably Not Dependant
, it's not bullying when those Canadian tariffs are a response to U.S. tariffs. That's called self-defense.
U.S. did it first and your president lies about the deficit when U.S. is having a surplus with Canada in the 1st place. So why is the govt being such an asshole and keep lying about it? Canada should stand up with other countries now and isolate America. It's the right thing to do.
Harris
, It's ironic you're calling me a communist. Most people online that still like Trump are Russian trolls. Dosvedanya, comrade.
If they don't like the prices for our steel. Buy steel from another vendor! It's simple. Supply and demand. Free enterprise. Does anyone not understand that?
are you american? because steel tarrifs where on INPORT. so now american companies are suffering and all this trade war left the doors wide open for china to sell its steel, cheaper than america can make it. all while the rest of the world put tarrifs on your EXPORTS. so you're selling less. if you're american, enjoy capitalism :D
we have no choice but to buy from another vendor. this country barely produces steel anymore. im not sure even how many mines that once produced the ore are still operating, but maybe under trump we can bull doze some forests and level some mountains and fill some lakes with the tailings as we open new mines im sure it will only take a couple months to get it all up and running..
Hmm I dont think you understand the concept of tarriffs
We will survive. Better than being over run. Change is tough some times.
How much money does the US owe to China?
You're gonna be a welfare leech then?
Great! I have about a ton of steel scrap. I'll be calling the scrap yard tomorrow to see what they're paying.
He's rich just cut back on the, vacations, range rovers and rolex's lol ✌i don't feel bad for him
Athena what about his thousands of employees?? You’re fucking dumb.
Sterling, IL home of former Northwestern Steel & Wire once over 6,000 employees now gone. Couldn't keep up with foreign competition. You still see old workshops with Sterling Nails.
Question is, will they come back or will the raised price only damage other steel companies further?
Sorry dude. There is a reason why Sterling can't keep up. If it can't evolve does it mean we have to bail them all out? What happened to innovation? Is America going backward to stone ages? To horse carriage riding? No. We move forward and we don't blame others for it. It's a harsh reality and the real world. Unless you want us to coddle all those failing business and bail them all out when our poor is on food stamps.
Regis the demand should change much. Also, stock prices don’t reflect the price they pay for materials. Investors made a lot for sure.
They need to reopen manufacturing in America. The fact we can’t even run without foreign help is definitely absurd and it is against national security.
Unfair trade where foreign countries are enable to sell cheaper is an obvious bad deal. No American that knows basic math would sign a deal like that.
Right............Steel made by foreign countries who pay their workers 5.00 bucks a day, yet America paying market rate for that sub par steel..........America was getting taken...............Now, we can re-open our steel mills, and put Americans back to work.
@derrick carter Your hitting Europe they don't earn 5 bucks a day they earn 3102 euro's/monthly = 3602 dollars for an low end worker. And they don't pay any less for their unprocessed steel if you make a statement then actually do some research instead of pulling numbers out of your arse. but then again that's what Trump loves to do so in that regard your perhaps right where you wanna be IAW blind to the truth. If it was about being fair then Trump should study where people are earning less or where companies get help from goverments. Europe will now starts to retaliate hope for you your company you own or work for doesn't export to Europe from a red state because those will the first to feel the retaliation.
Let me get this straight.
You want to harm your competitors so you rise the price of your goods with taxes.
Now, the buyers go to your competitors because they have lower prices.
Who did you harm?
I think someone didn't here.
And I believe I know who it was.
@Alredo idiot........No.......... Tariff's raise the price of the foreign crap, so no more dumping your crap in our country.............it makes opening up our own steel mills viable again................the USA does not need foreign steel....... we can produce it here by American hands, to be used here on American building projects...........No More Foreign crap.......................
lol your a person clearly failed in business.
Do you really think that, 604cobe.
Just answer me something.
Who is going to pay the taxes or tariffs?
The exporter -from other country- or the importer -in the US-?
Tell me.
Alfredo Harvey Mac Kissack im not the most educated in buisness but wtf does tax being paid have to do with anything. Whither the company pays it or the consumer pays it is not the point of implimenting tariffs...
Sanic Mcdanic you realize that tariff and tax are interchangeable, right?
OMGosh... That means that we Americans will have to make our own steel...... You know like we used to do before the steel mills shut down and went to China and Canada.... We will just have to force thousands of unemployed still workers back into the reconditioned mothballed plants..... Ho my, what will we ever do.... lol
It is true that the cost of steel will go up for a wile....... But after the mills step up production competition will lower the prices again.... And all those billions of $ will be staying right here in the good ol US of A.
The fear mongering from the far left and the globalists are pathetic...
GSpotter63 How will they manufacture anything with no raw materials?
Tim Brown
America has plenty of raw untapped iron and aluminum ore.
lets all feel bad for this multi billionaire
USA invented globalization, and it was all fine as long as the corporate companies achieved good share holder value.
Not China took American jobs away, not Mexico, not India. American CEO's took American jobs away. They figured that paying a Cambodian worker 3$ / day generates more profit than paying an American worker 30$/hour.
Slavery was never ended, it was exported. 5000 children in a textile factory in Bangladesh, making shirts and pants because you want them cheap. Who is using these conditions ? Do you want to pay higher prices for stuff "made in USA", or do you want them at the same low price and accept that your workers get paid 5$ per day and work 12 hour shifts ?
Safety standards in Western companies apply only domestically. Health and safety in Asia simply doesn't exist.
In Germany for example around 20% of a product price comes from environmental protection measures. Zero emission. Now look at factory chimneys in China ....
Mass production in gone for good, and no tariffs will bring it back.
I am amazed at the lack of economic knowledge in here. First, manufacturing jobs are necessary to employ a part of the population. There are not enough high tech jobs and enough highly educated people for those jobs. Second, you build wealth by turning raw assets into finished products. Third, China has manipulated currency and has a surplus of cheap labor and virtually no regulations for quality or worker safety. Fourth, sometimes you have to impact people to bring them to the table to negotiate new trade deals. The trade deals we have negotiated in the past have been extremely unfriendly to the US and Trump is trying to remedy alot of those. Everybody talks about labor costs being a big factor, but regulations, OSHA, EPA and all the other initials in Washington raise costs as well. Trump is fighting to reduce regulation on one end and level the imports coming in on the other. This is what it takes to undo years of bad agreements.
Look at the maps sweetheart. The contry on the opposite bank of Lake Ontario is not the China
hi again tom. yeah, about china. the trade war isnt with china. I KNOW ...THATS WHAT I SAID TOO. I CANT...WHAT? also theres other ways to bring adults to the table, something less childish would make people happier.
Tom M i
Thank you for educating the masses.
You are right in large parts. But this steel tariff is actually going to hurt the US manufacturing sector not help it. If their raw materials costs go up (as they have, and will) then that means that either they're going to have to increase their prices in turn (pushing the raise onto US customer, or foreign markets making their products less competitive), or go bust. There was a report on a US company that makes US beer kegs for the US market from US steel. They were incredibly worried because even before this they were working on very thin margins. With US steel prices going up, they're going to go under. Ironically this will mean importing more beer kegs from abroad.
The size of the industries that rely on steel dwarves the US steel sector, and most of these imports from the EU at least are of very high quality niche steel materials (this is completely separate from Chinese steel). The US market isn't going to be able to provide that overnight, meaning that these companies like Boeing are just going to have to increase prices or soak up the extra cost of the tariffs.
Of course all of this is directly related to the US tariffs. That's before the fallout from the retaliatory tariffs is even considered.
Of course there's going to be a hike at the start of the tariffs, which will offset over time when American producers catch up to the demand. Which if he switches over to American Steel and make that a selling point it would probably improve business as people will buy and pay a little more for American quality over offshore quality.
Sword Coheir okay let me ask you this. You own US steel in Pittsburgh you have millions invested in plants in Canada where you smelt the steel (Because the abundance of natural gas makes it cheaper) ship it to the US for Fabrication and then sell it to both american and canadian markets (2billion surplus with Canada) now you're slapped with 25% Tariffs. You get nailed by both ends selling it back to canada and bringing it down from canada. You have a president that isn't getting re-elected. The tariffs are illegal and will be deemed so by the WTO. Do you spend 10s of millions building smelting plants in the US? Or do you ride it out. Pass the 25% onto consumers, and turn back on the rollers in the Plant you own in Hamilton Ontario and fabricate for your Canadian customers to skip the 25% tariff there?
I will tell you exactly what U.S. Steel is going to do. They are going to meet US demand in any way possible, pass it on. Ride it out, and fabricate LESS steel in the US because even with the higher employment costs, With the tariffs and the week canadian dollar right now and manufacturing the steel for their canadian customers in canada will be cheaper.
Yes it will cost american consumers more. No it will not create more american jobs. All major steel companies in canada have been bought by American steel companies. They have all the infrastructure in place to Fabricate in canada when they bought the plants but it was cheaper to pay the labour on manufacturing in the US but cheaper to smelt in Canada. That's why canada had 80% of it's steel exported and had to buy it back. Now they'll keep more of their steel at cheaper prices US won't.
Sword Coheir The thing is, you don't have the capacity to "catch up to demand", for various reasons, not least of which are raw supply and affordable means to refine it. Not to mention that Canadian steel and aluminium is so much more abundant and affordable - whoops, I guess not that last part now, sorry not sorry - than your own supply. But, whatever, keep your head up your ass, I'm sure the winning must look great from there. #makeamericagroanagain
T H Canadian here. Thank you. Finally someone who gets it. Also, there are plenty of other foreign markets for our goods, be it steel, aluminium, lumber, oil, or doughnuts. In the end we won't really need the US as much as they'll need us
Sorry dude. There is a reason why American quality is not as good as offshore quality. I reckon there will be no reason to make gd quality steel since there is no competition and Americans will suffer for it. Mark my word.
Gd for you. I pity the Americans who is still dreaming about these fake short term jobs. I really pity them who can't see the big picture. I will most certain pity their families who will suffer along with them.
Screw the threats, and fear mongering. It looked to me like most of these companies are climbing. Tired of Americans cringing in fear of change. Where is the inginuitive spirit that eagerly took on challenges, and then figured out how to overcome them. This is what kept America on top for years. Not hiding in the corner impotency.
No , then nothing else matters !! This country needs frickin good paying jobs !!!
China steel is also defective.
Let's build up our companies and get reliable American made!
Sorry you're wrong. China is catching up rapidly to America. It's all in the matter of pricing, supply and demand. With America out of the picture i reckon China will now replace America's position in the world. The Chinese thanks you for that. Please stay isolated forever.
off-kilter I work in construction and there are a lot of tools and safety items we are not allowed to use if they are made in China and for damned good reasons. Their steel sucks and overall quality is very low. To put it simply you might die or kill someone else.
Steve Smith If you really think about it this is going to be great for both China and its clients, because much like they were forced to do with other goods they will also be forced to improve the quality of their steel in order to satisfy the demand from countries where quality standards are a legal matter (as it happens, for eg. in the EU, where you can't import goods that don't comply the CE regulations), and starting with an attractive price range means China will always need to stay bellow US prices, or else they will lose the clients. So in this scenario the US is doing something really stupid.
He didnt even place tariffs on chinese steel either...remember him just dumping on chinese steel when he was running for office? What a douchebag.
At the cost of layoffs? The man just said it's going that direction I think he knows about his own Market.
everyone crying about it costs just as much to buy foreign steel as to buying american made steel ,
yes, but it doesn't stop at steel, does it? Or are you so naive that you think that american workers wont get hurt because they cant sell their product abroad anymore?
Spot On ... could it be that Fox owns stock in China steel ?
Jesus Christ this is NOT "Spot on" bunch of retards! Straight up false statements here.
Snm Fame first of all its 30 cents, so get your math right. Second, are you dumb enough to think he only buys one steel at a time? No, he buys tons of steel at once, so yes, that 30 cents quickly adds up. Third you complain about your gas going up 50 cent, who do you think is to blame for that?
Ben Aderaw oooh obasterd for making the dollar weak . Selling the internet to globalist and 21 trillion in debt . I remember wen gas was 50 cents a gallon in the 90’s and thanks for doing my math I was thinking of something else . But I buy gallons of gas daily so I too want to complain then . Duh bish
I am a fan of Trump but we should have these conversations. Tarrifs are a big deal. And why make fun of this man's speach? He is only calmly giving his side. Trump 2020!
I love the fact that at FOX we can talk about stuff that we question too!
That's REAL NEWS.
ben cruz if Trump hadn't have messed with tariffs the stock market would've kept going up.
If trump doesnt consider tarrifs he loses a bargoning chip. The stock market is up because of consumer convidence because Trump is president. We hold most of the cards at the foriegn table and should flex our muscles.
Trump just did China a great big favor, or maybe it was part of the deal where China is paying $500 million to Trump so he will save Chinese jobs. China wins!
ben cruz EU Canada and Mexico buy steel from China cheap. China and UK set up shop in Canada and Mexico to gain access to US and avoid fair trade deal directly with US. Our jobs are now in China UK and Mexico and they get free access to US market. The only way that is good is if you want those countries to be successful while screwing the American people. Multinational corporations charge American consumers sometimes 100 percent more than they pay for same goods. Too bad trillions of dollars at stake and Trump is taking it back to America for American workers. Works great with corporate tax cuts so American business can come back and invest in America. That is Trumpanomics and Makes America Great Again.
I am confused here. Howard Steel now pays more for a pound of steel - so he is not using USA-made steel? And why is he paying for steel to begin with if he is a steel manufacturer? Or he is making scaffolding out of a Chinese-made steel? In this case he is not a steel manufacturer.
2 things here.
I'll start with the last point because it is a good one and quicker to answer. Howard Steel is actually a steel fabricator, not a steel manufacturer. It's an easy mistake to make. So he buys raw steel then fabricates it to make his product, like scaffolding, as used on the statue of liberty. They'll probably also bend steel, shape it, galvanize it etc. Lots of construction industry folk use steel, but not in it's raw form. That's where his company comes in. The number of companies that use steel rather than make it is much bigger. Think construction companies, car manufacturers, beer keg makers, fabricators, airplane makers, anyone who uses steel or any form of it to make something.
They employ many more people than the actual steel manufacturers.
So your 2nd question.
The costs went up because supply and demand. The market is generally in equilibrium. So everyone that needs steel has a seller they go to for the best price they can find. Now if a portion of those sellers now have to charge 25% more, then the buyers look elsewhere to see if they can get it cheaper. So it might be that it was better for a company before to buy Canadian steel, but it now might be cheaper to buy US steel. So now the US steel company can seller to their existing customers, and these potential new ones. But they can't increase supply overnight, so they make the two interested parties bid to see who will buy it for the most. So the price they can sell for goes up, and the price eventually becomes too expensive for one party, and they bow out. This is why the price of US steel has gone from $0.30 to $0.68. Bidding wars between consumers of steel. Ironically because the price of US steel has gone up, this now makes Canadian steel potentially still cheaper to buy for most companies even with the 25% tariff.
So what does that mean? Well US steel companies make more (just the owners not the workers), and US manufacturer pay more. Meaning US made goods will cost more to make, and so cost more to buy for US and international consumers. It's hard to tell the exact effects, but it's why Paul Ryan the Republican Speaker, said tariffs are bad because they have a tendency to spiral out of control and have effects no one wanted.
This is also before we talk about retaliatory tariffs put on US exports especially agricultural exports (which will hurt US farmers). Trump has already talked about retaliating to these with tariffs on car imports (which will provoke more retaliatory tariffs by Canada, Mexico & the EU). This incidentally is how the Great Depression started. The slow, and then very fast decline in world trade.
He is making steel scaffording.. he is not a steel manufacture..
OK lets say for example lets say he can by steal from china for $0.30 but it would cost him say $0.35 to buy in the US.With the 25% traffifs chinese steal would be $0.375.. and US steel would be $0.35
That means he is paying $0.35 for something that would have cost $0.30 without traffifs
If the price is 38 cents and it goes up 50% it goes to 57 cents. this guy's price went from 38 too 68, that's a near 80% rise.
China and the Democrats must be loving this.
Speaking for Democrats.....no, we aren't. Even though the retaliatory tariffs mostly targeted goods from Republican states, it still hurts us indirectly. Our country's economy has always and will always be interconnected. We're in the same boat. This ignorant demagogue Republicans have elected to be their savior is driving us all into the ground....and the worst part about it is that I don't think any of them care as long as they get to give the finger to a few liberals.
Angie Natoyn tell me, just how painful is it being so stupid?
Remind us who tweeted about too many Chinese jobs being lost?
China did pay $500 million for this.
YOU FUCKING IDIOT YOUR CHEETO SUPPORTING DUMBASS THIS AFFECTS ALL AMERICANS >> FUCK CHINA>
Someone needs to put a Tariff on James Howards mouth, dude cant even talk. He sounds like he's bumped his head on steel rods everyday at work for the past 50 years.
Jealous that he's smarter than you? lol
Jane Doe and more wealthy
SuperNikeface
Insults aren't necessary. Some thoughts are much better not said.
Have a great evening.
💘 from San Diego
Vendicar Decarian1 so because he has a southern drawl and wasn't reading from a prepared statement he's a moron? A highly successful businessman who has always bought American material, providing high end jobs and products. Fucking witless wastes like you, trolling news stories are the actual problem.
SuperNikeface sorta like Trump
These are called taxes. This is what you have been avoiding for years and that's why they are so high. A true businessman would take from his bottom line to pay it; not from his workers. If they cut jobs claiming they can't afford it; Look at their profit margin and CEO pay for the truth. Don't just accept high prices.
I use to buy a sheet of diamond plate aluminum for $89 last month, now it’s $119 WTF!!
#mathskills
América quality is shit
The USA is the worlds largest economy .
Why not build it here and sell it here ?
That’s Trump’s vision .
Let’s give things a chance .
You need to ask yourself why we don't do that anymore because we use to. Once you understand what happened you will then understand why we can't go back to that method.
Sound like a page from A.D. 1827 Economy Text Book
There is long list of examples it doesn't work. The 1929 Depression is a great example.
Lets drunk drive again this time it might work.
because thats expensive. you love capitalism so much you will buy everything from china.
also if you're just making it there and selling it there, there is 0% growth. thats the opposite of how trade works.
if i buy the land for potatoes, i water them, i grow them, and then i sell those potatoes to myself, how much money will i make?
trade works on selling the surplus. every country is good at making one thing (or more). we all trade amongst ourselves and we all get more value at the end. thats how the world works. everything and everyone is connected.
because at this point the average american TAXPAYER doesnt care about money
they just want to survive, and are speaking with their money and votes
if i grow my potatoes and sell them to myself i will have a full belly, u can keep ur money
2 parts to an economy 1 more important than the other, the domestic
the average american taxpayer doesnt care about money? what do you think you pay taxes in? unicorns?
well then the average american should ask the 1% to pay more taxes then.
if you grow your potatoes you gotta own land and use water. all of that costs money. how do you have money if you only sell potatoes to yourself? and eventually the land cant grow potatoes anymore and then you got nothing. the land is an allegory for resources. if you just build and sell to yourself not only you have no net growth you are also depleting resources at the same time
also, labor costs are higher in america, so anything you make will cost more. still dont care about money cid? because the average american unicorn payer just had an increase in expenses.
HOW THERE THE STELLE WORKERS ALLOWED ITS GOVT. TO STALLED THERE JOBS AND WORK .?????? . WHATS THE POINT OF HAVING & 💰 PAYING FOR UNIONS , REPRESENTATION ?? . OR HAVE THEY SOLD OUT ??? . 😢💔💀☠️💀😳😱👹..
AGENT X SECURITY fuck the unions.
They fail to report the price difference is on foreign steel and aluminum, American steel has not changed prices.
A 75% increase in price following a 25% tariff is clearly a retaliation of greed. I see a prime opportunity for investors to produce steel.
I taught that the TARIFFS were to prevent cheep steel to flood our markets, so we could sale our steel at the reasonable cost to American consumer and to the consumer world abroad.
A tariff on foreign steel... to promote the purchase of AMERICAN steel??? HOW DARE HIM!!! SMH 🤦🏻♂️
When our country collapses financially - Citizens don't have the luxury of walking away and writing it off with the attitude that it's someone else's problem
I used to work for US STEEL TUBULAR DIVISION as a FINISHER TECH/OPERATOR and they work very hard making couplings for oil drilling rigs. This is not good when the US jobs are in jeopardy because of these tariffs that 45 is creating. For those who voted him in be prepared to finally realize that he don't care for no one but himself.
We buy steel from these people and I can tell you these people steel prices is cheaper than anywhere you go they treat us fair this is a good company to buy from
I own a small fabrication shop that this will obviously affect also. But what people are forgetting is that this tariff will tax "raw" product. If a potential customer wants to skirt that price hike is you can have the part made in china or just partially made which doesnt constitute a raw product anymore so the steel mills will still loose out on that sale of raw steel here in the U.S. . Now some things like beams for buildings and bridges would still be done here but thats not to say Chinese manufacture or another country wont figure that loop hole out and say " Wait if we punch one hole in that beam its no longer a raw product and now is a manufactured part. Even if suppliers here just turn around and cut off that end and sell it as a whole.
Incorrect - the whole point of steel tarrifs was not to stop dumping. That was one of the points. There's another point and it is national security - keeping a steel and aluminum manufacturing capability within our own country - Hence, "A country without steel isn't a country" - Well, a country without steel isn't a world power, I mean. So, I hope some of the network hosts can also consider that point.
I love it, this will force Americans into making their own steel and thus creating jobs.
This tariff is a HUGE TAX INCREASE ON THE AMERICAN CONSUMER! Because no company US or otherwise will absorb this extra cost on their profit margins.
.38 - .68 "jacked up 50%" - that's *jacked up by 78.9%* - good grief can't even get the basic maths right! LOL
I'm thrilled James Howard got what he voted for. If he thought the world would just bend the knee in fear, well, tough shit, that's not how the world works.
He is a buyer of Scaffolding which is reusable. I doubt his inventory was affected that quickly by the cost of raw steel.
Of course it has risen in price. The original level was depressed by Chinese and NAFTA steel dumping. The supply is now reduced but demand has risen, in line with the economic upturn. The home producers are making higher profits on the back of this. That's where he should be directing his ire at.
Bullshit. NAFTA is whatever the US negotiators agreed to. The US can not produce enough steel to satisfy the US demand so the US has to import. Trump's tariffs increase the cost to US manufactures and consumers and military. This will result in lay-offs of American workers and have no effects on Canadian steel producers, we just increase our sales to others. The US is not the only market and is not expanding like the markets. It is shrinking because US corps are outsourcing their work to other countries.
the usa used to export steel , that is until all the steel mills got shipped over seas..
So good luck, your next car will be made of paper-mash or twice the price
The usa used to export steel and all the transport was done by a horse wagons. Its f*kin 21st Century
No matter who it is, anyone who tries to help the American worker is going to be demonized.
Before the Civil war the entire government was funded by tariffs. There were no income taxes. After the Tariffs were ended jobs and industry went overseas. History says tariffs are good for our country.
Maybe now America can have its steel industry back. In no time the USA will ramp up domestic production. Long term great for America.
The fact that this company sold out the America worker years ago using foreign steel is their problem. As a working loyal American I have no tears for this poor CEO.
I LOVE TARIFF. I have had to pay them going into the EU for years. Its about time they pay.
Whatever did we do in the 70s when everyone made a living wage and we didnt import everything....oh ya we prospered
I guess this was the only guy who wouldn't give his true feelings about Trump, otherwise Fox News would have gotten someone who could speak coherently.
Everyone is so eager to talk about the problem these tariffs are causing but no one is eager to talk about the root. WE SHOULDN'T HAVE BEEN IMPORTING ALL OF OUR STEEL TO BEGIN WITH! If American businesses were relying on American manufacturing, we never would have had this issue. Look at Carnegie and Rockefeller, a huge portion of America's wealth in the past century was generated by American manufacturing. Now that we outsource all of our resources to foreigners, we are making them rich and ourselves weak! Of course tariffs look like they hurt us *in the now* but the first step to fixing a problem is always painful. Stop focusing solely on the present and recognize the path to the future!
One selfish business man who doesn't understand we are no longer self sufficient in providing steel and aluminum. Our companies which provided that material are mostly gone, along with their employees. If we are to regain that business we must stop the dumping of other countries. Freedom is not free!!
So now the price of steel is going up everywhere? So it's more viable for Canadian steel to be shipped off to Japan China and Korea?
In the end everything is gonna cost more... we're gonna have crazy inflation if they keep this shit up.
So y'all can't understand that WE pay MORE in tarriffs than we receive? Y'all act like you would be willing to trade a dollar for a quarter when you know good and well you wouldn't.
Cost of oil will be indirectly affected as the cost of refining and drilling equipment will eventually feel the squeeze.
The Tariff is about plugging the hole in the projected budgets created by the Corporate Tax Cuts. Has nothing to do with Jobs.
Increasing tariffs will force steel jobs to come back to the US. Why are people complaining about having more jobs? Because it costs more in the short term?
This is one side of an American company but she didn't interview a scrapper who saw prices go through the roof.
Should buy American, this is exactly what America needs. It hurts now but later will be too our benefit. We can produce any raw material we need.
I'd hate to be sitting through his board meeting feel for the secretary taking notes!
The producers of steel in the US have upped their prices because cheap steel is no longer available. So what do we really want, other countries dumping their steel in the US which makes prices of certain goods cheaper and local US companies going out of business, or do we want to build up the American steel industry by taxing cheap imports to make the playing field equal? If the US was in a major war, we would be in trouble because we do not have a steel industry that could support a war effort needed to defeat a "large" enemy. This is not an easy problem to fix.
This country used to produce,now we ate at the mercy of foreign providers
The effect the tariffs will have is that companies will simply move their production outside of the US to get cheaper steel as the US isn't even close to being capable of producing enough steel atm.
as a resident of the pittsburgh area where some factories are opening after decades we aren't minding these tariffs....this guy doesn't run a steel company he runs a company that makes products out of steel .....the cheapest he can find and the more autmation the better fuck this guy and all the news twisters .....this is gonna be great for the us and great for whoever else gets our high quality steel
My take was that the tariff is to encourage domestic production; that creates jobs and, to put it lightly, self-reliance. What happens when someone decides they want to put a choke on us? - It's pretty easy when the main supply is governed by someone else. Spin-offs of re-invigorating mills include everything from restaurants to accounting to engineering to R&D. That's how it works people; everybody else in the world knows it. Why do you think you don't see places like China serving themselves? It's not as innocent and loving as marketing would have you believe.
Why doesn't Trump consult with these businesses and consumers before executing any trade decision? Does he not think of the ripple effects and consequences?
1 pound = 453 grams = 0,68 usd
1 can soda avg = 15 grams
453 / 15 = 30,2
After tariffs = 0,68 usd / 30,2 = 0,0225
Before tariffs = 0,38 usd / 30,2 = 0,0125
Price increase = 0,01 usd per can
🔥 CRISIS 🔥
The problem is: we have a lack of educated people in the U.S. so they have no idea what is good economics and bad, yet they can all vote the same.
Anybody with even basic economic knowledge would know this is a terrible idea.
A pound of steel should cost as much as a pound of bananas. So what ?
Edward Price its still steel, not bananas, so this.
I DON'T KNOW WHY A TARIFF ON CANADA THE STATE IS ALREADY BUYING WITH A 25% LESS FOR ALL PRODUCTS AS IT IS
it is about jobs not about people lining pockets like they have been doing for years. more jobs more money that is spent for everyone.
Tariffs are another tax on people and promotes lack of competitiveness in domestic companies because they are protected. Anyway, tariffs should not exist in international commerce for the sake of consumers.