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Protecting the U.S. Steel Industry Could
Come at Great Cost, Economists Warn

NBC News, by Martha C. White

Original Article

Posted By:LittleHoodedMonk, 7/17/2017 3:12:46 PM

Economists are steeling themselves for potential diplomatic and economic disruption if President Donald Trump makes good on his threats to impose barriers on steel imports to the United States. They warn of major ripple effects that these protectionist policies — whether they come in the form of tariffs, quotas or some combination (Snip) “Tariffs would raise costs for manufacturers, reduce employment in manufacturing, and increase prices for consumers,” the letter from former CEAs said. If Trump read the letter, it didn’t show: Late Wednesday, he said he was open to using both quotas and tariffs to restrict steel imports.

Comments:
If I understand correctly it was aimed at Xi and China for dumping steel in our country by their lower prices. Some dRATS lobbyists are trying to stir up trouble. Besides, Trump´s foreign trade deals, as he claimed, have been one-on-one with the countries that are mostly are allies. Our steel industry must be ramping up for future oil piping and ship building orders, as examples. (Fake news.)

      


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Reply 1 - Posted by: question_complexity, 7/17/2017 3:23:30 PM     (No. 11321685)

If we are making stuff, we should make it from stuff that we make.


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Reply 2 - Posted by: MattMusson, 7/17/2017 3:54:46 PM     (No. 11321724)

Steel is still a strategic material.

Germany killed it´s steel industry by mandating green energy (you can´t produce steel with windmills). The USA needs to protect it´s own steel industry by stopping other countries from dumping steel below cost here.

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Reply 3 - Posted by: TLCary, 7/17/2017 4:14:46 PM     (No. 11321740)

Failing to protect the U.S. Steel Industry Has
Come at Great Cost, History Warns

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Reply 4 - Posted by: Clinger, 7/17/2017 5:16:06 PM     (No. 11321791)

Ever fly over England? Wonder how all that farm land still exists? England knows its very sovereignty is at stake if it were to be dependent on a foreign entity/s for food.

We´d be up the proverbial creek without a steel industry. You know the same creek they tried to send us down with energy dependence.

Our Tariffs will be considered protectionist while our trading partners manipulation of VAT will not. A real economist will tell you the effect of the VAT is exactly as a subsidy for their production and tariff on ours.

Do some homework Marty.

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Reply 5 - Posted by: ida lou pino, 7/17/2017 5:48:31 PM     (No. 11321824)

I love The Donald - - but - -

- - his ideas on trade are pretty much the same as Herbert Hoover´s. Tariffs and quotas lead to nothing but misery.

Someone give Donald a wake-up call - - please!

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Reply 6 - Posted by: dvc, 7/17/2017 5:54:08 PM     (No. 11321831)

Not protecting it has ALREADY had a horrific cost on US society.

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Reply 7 - Posted by: Nevadadad46, 7/17/2017 7:53:39 PM     (No. 11321987)

Well, that´s just the cost of saving a country.

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