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Sorry, Mr. President: Your Trade
Protectionism Will Cost The U.S. Dearly

Investor’s Business Daily, by Staff

Original Article

Posted By:RockyTCB, 3/2/2018 6:34:24 AM

Trade: Protectionism is a political feel-good policy that does nothing for the economy. It´s a big cost with very few tangible benefits. That´s why President Trump has made a big mistake in imposing big tariffs on steel and aluminum. We understand, of course, that President Trump feels beholden to his constituencies in the U.S. who have been hurt by foreign competition, particularly in basic industries like steel and aluminum. But the 25% tariff on steel and 10% tariff on aluminum that Trump seeks to impose will lead to higher prices for all, the loss of thousands of jobs and a political-crony


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Reply 1 - Posted by: Yourblueroom, 3/2/2018 6:57:00 AM     (No. 11559742)

Here’s the thing: for instance China subsidizes its steel industry massively so we the US put larger tariffs on Chinese steel. But then China sends steel to Mexico so we can import it as “Mexican steel” under NAFTA with a minimal tariff, as negotiated under NAFTA. China screws us both ways. China does this trick with steel thru Vietnam too. One example among many. I’m not a huge fan of tariffs either but we have to level the field for US business

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Reply 2 - Posted by: MattMusson, 3/2/2018 7:03:53 AM     (No. 11559747)

Letting the Chinese dump on the USA and watching our Steel and Aluminum industries evaporate... is good for the USA?

Go shill somewhere else.

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Reply 3 - Posted by: Grant Hodges, 3/2/2018 7:16:53 AM     (No. 11559752)

no. 2 beat me to it. We´re supposed to be thrilled with steel workers, etc., out of work. Just like we are supposed to believe that seeing the FISA warrant to spy on Trump´s campaign will hurt us. Just like we are supposed to believe that polar bears were going extinct. Just like we are supposed to believe that . . . get the picture?

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Reply 4 - Posted by: Muguy, 3/2/2018 7:25:22 AM     (No. 11559756)

My next new pickup truck sticker price just went up over a thousand dollars...

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Reply 5 - Posted by: Nevadadad46, 3/2/2018 7:52:51 AM     (No. 11559783)

The problem is not manufacturing. The problem is Big Government sending jobs overseas. And they are all the big, dirty, heavy, industrial jobs the EPA and the leftists hate. Sending those jobs out to 3rd world countries did nothing but strengthen our enemies and impoverish American workers.

Guess what is no longer made in America? Clothing, sewing machines, textiles, -even your breakfast cereal is not made in America much to the shame of General Mills and Kellogg´s. Gloves, hand bags, small engines, athletic shoes, bed sheets and covers, baby food, and almost no steel castings- go to India and Pakistan and China for all that.

There are thousands and thousands of things that once were all American now wholly produced in foreign lands with workers being paid pennies a day to make them. Why? Leftists did this to "Raise the living standard for the world´s poor."

President Trump simply want´s to bring some of that back to America for American workers. IBD is simply crying in their mega billionaire´s soup- not ours.

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Reply 6 - Posted by: EuroTim, 3/2/2018 7:53:16 AM     (No. 11559784)

Free trade in this world is like playing poker with marked cards where everybody knows they are marked but the US.

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Reply 7 - Posted by: Rama41, 3/2/2018 7:53:40 AM     (No. 11559785)

#4 is right. The price of beer is going up too. This is not good. I´ll be surprised if the markets bounce back any time soon. Unless, of course, he changes his mind. (Always a possibility.)

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Reply 8 - Posted by: arcady, 3/2/2018 8:00:34 AM     (No. 11559794)

Exactly 1,2,3,5 and 6... regulatory arbitrage among other things, is not free trade.

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Reply 9 - Posted by: ru4us, 3/2/2018 8:02:50 AM     (No. 11559796)

Mr. Staff,
Have you checked out anything you have, being held together by Chinese, "stainless" nuts and bolts? I´ll be happy to pay more for safer stuff.

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Reply 10 - Posted by: lazlototh, 3/2/2018 8:26:22 AM     (No. 11559814)

I´m a bit worried about this and can´t tell if it´s jawboning to see what he can get and then backing off what is too difficult to obtain.

I already check where things are made and not only because of jobs and politics but because of quality I try to avoid Chinese-made goods. I´m old enough to remember when "made in Japan" was a joke too. But I will pay more to support American jobs when I am able.

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Reply 11 - Posted by: strike3, 3/2/2018 8:34:37 AM     (No. 11559828)

I would tend to believe the word of several CEO´s in the metallurgy industry over that of "staff" from some magazine. Give this time to play out.

The next pickup truck we all buy will go up a grand or two anyway, probably for some new electronic device or "safety" feature.

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Reply 12 - Posted by: TCloud, 3/2/2018 8:38:35 AM     (No. 11559836)

Globalists to lose their collective shirts and hey, I am just fine with that! MAGA is gaining steam and soon we will see way more superior Steel and Aluminum products with the MADE IN USA stamp on it! Globalists can now turn on each other for inferior Chinese Metal!

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Reply 13 - Posted by: RUReadyY3K, 3/2/2018 8:57:43 AM     (No. 11559857)

I´m very happy that he is keeping another campaign promise. Not too concerned with retaliation from countries that we have large trade deficits with, they have more to lose if they escalate.

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Reply 14 - Posted by: coyote, 3/2/2018 9:53:02 AM     (No. 11559923)

Yes, this means higher prices, but don´t forget, it also means higher wages.

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Reply 15 - Posted by: mean Gene, 3/2/2018 10:21:28 AM     (No. 11559954)

Poor Fox Business.
Owned by globalists, they are trying their best to make a $0.01 per 12-pack of soda, a $20 per car and a $2000 per jumbo jet imported into a disaster.
It just doesn´t compute.

Melissa Francis, a host there, yesterday suggested a shocker: why not wait until something happens and then report it instead of all this wild speculation?

Good question.
Could apply to all 24/7 news shows.

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Reply 16 - Posted by: Ribald1, 3/2/2018 11:13:43 AM     (No. 11560003)

If the feds stopped buying anything that was not sourced and made in the USA $trillions would stay in our economy and all the products we used to make, we would be making again.
That would give consumers the ability to get high quality products rather than being forced to accept Chinese junk.
American workers paid those taxes, when it is spent, it should be spent on them rather than a Chinese slave.

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Reply 17 - Posted by: JansGraphix, 3/2/2018 12:36:10 PM     (No. 11560124)

Between the price of steel and union dolts ... apparently cars and trucks are never, ever as expensive or over priced as they should be. And never will be going down this road.

Look out Venezuela, Greece, with our ever expansive, ever growing BIG, bigger, BIGGEST Govt, while reducing the value of our dollar, here we come. The race is on ...

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Reply 18 - Posted by: dvc, 3/2/2018 2:09:34 PM     (No. 11560237)

This is right.

China is the enemy, ALWAYS. Stop them from killing our companies while enriching their military thug owners.

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Reply 19 - Posted by: dvc, 3/3/2018 1:21:44 AM     (No. 11560708)

OK, #4, IF TRUE, not impressed. Subsidizing China is a serious mistake, especially at the cost of American jobs.

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