Author: reedak

Trump’s trade war hurting US economy   [Copy link] 中文

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Post time 2018-8-3 06:19:04 |Display all floors
pnp Post time: 2018-8-2 16:38
" So far only the price has dropped"

That's why they are hurting and complaining!  China has shif ...

Because of the price drop, importers from Mexico to Pakistan to Thailand are scooping up the US soybeans, according to the analysis of US Agriculture Department data.

As I said before, there are only so many soybeans in the world.

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Post time 2018-8-3 06:58:28 |Display all floors

Round Up is good for developing the mind

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Post time 2018-8-3 10:38:28 |Display all floors
5.  The following are excerpts from the April 24, 2018 AP news report by Richard Lardner under the headline "Trump's trade war with China risks jobs and profits in working-class areas" at chicagotribunedotcom.

(Begin excerpts)
President Donald Trump's escalating dispute with China over trade and technology is threatening jobs and profits in working-class communities where his "America First" agenda hit home.

The Commerce Department has received more than 2,400 applications from companies seeking waivers from the administration's tariffs on steel and aluminum imports, which may result in duty payments of millions of dollars for larger businesses. The department has begun posting the requests online for public comment; several of the applications released so far suggest deep misgivings with Trump's protectionist strategy, especially in areas where he won strong support during the 2016 election.

The tariffs are aimed primarily at China for flooding the global market with cheap steel and aluminum. But they've also led to confusion and uncertainty, according to Associated Press interviews and a review of records. In Oklahoma, Texas and Wisconsin, for example, businesses operating in the furniture, energy and food sectors have outlined the financial difficulties they'd face if they're not excused from the steel tariff.

In Okmulgee, Oklahoma, dozens of jobs hang in the balance as office furniture giant Steelcase waits to hear back from the Commerce Department.

A Steelcase subsidiary, PolyVision, operates a plant in Okmulgee that uses a special type of steel from Japan to manufacture a durable glass-like surface for whiteboards and architectural purposes. PolyVision "cannot and will not be able to procure" from U.S. companies the cold-rolled steel it requires "in a sufficient and reasonably available amount or of a satisfactory quality," Steelcase said.

Trump won most of the votes cast for president in Okmulgee County. Without a waiver, Steelcase warned, the "economic viability of PolyVision (and) the small town of Okmulgee" would be jeopardized.

The waiver request also indicates that a $15 million plant expansion may be at risk. Steelcase and PolyVision are on the verge of making the investment, which would create new construction and manufacturing jobs, according to the request.

Roger Ballenger, Okmulgee's city manager, said he and other local officials are "very concerned about the situation with PolyVision."....

Economists Joseph Francois and Laura Baughman estimated last month that the tariffs would increase employment in the U.S. steel and aluminum industries by more than 26,000 jobs but also lead to the loss of 495,000 other jobs throughout the rest of the American economy....

The future is much murkier for another Baytown steel business, Borusan Mannesmann Pipe. Without a waiver, Borusan may face tariffs of $25 million to $30 million annually if it imports steel tubing and casing from its parent company in Turkey, according to information the company provided to the AP.

Borusan said the Baytown production line would no longer be competitive and "jobs would be threatened" if it cannot import 135,000 metric tons of steel annually over the next two years. The pipes Borusan produces are used primarily as casing for oil and natural gas wells.

But if Commerce says yes, Borusan will be able to unlock a $25 million investment in the Baytown facility as it seeks to become a "100 percent domestic supplier," according to the waiver request. An additional $50 million expansion in pipe fabrication capacity would follow, the company said, leading to as many as 170 new jobs.

Seneca Foods Corporation, the nation's largest vegetable canner, said in its waiver application that it's unclear, at best, if U.S. suppliers have the ability or willingness to expand their production in the long term to meet the company's annual demand for tinplated steel.

But "clearly they cannot meet demand in the short term," Seneca told Commerce officials. That means Seneca has to buy a portion of what it needs from overseas.

A person with knowledge of Seneca's situation said the company would face a $2.25 million duty if the Commerce Department doesn't approve its waiver request for 11,000 metric tons of tinplate it already agreed to purchase from China. The material is to be delivered this year and next, according to the waiver request. The person was not authorized to speak publicly and spoke to the AP on condition of anonymity.

Seneca said it employs more than 400 people at can-making facilities in Wisconsin and Idaho and near its headquarters in New York's Wayne County, where Trump bested Clinton. The company doesn't warn layoffs are imminent if the waiver isn't approved. Instead, the tariffs would likely come out of Seneca's bottom line, the person said.  (End excerpts)
Donald Trump's infamous Hitler-style rabble-rousing chants:  "Lock her up!  Lock her up!"

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Post time 2018-8-3 11:04:47 |Display all floors
pnp Post time: 2018-7-31 16:19
'China the Bully'?  Have you lost your senses?  It was Trump who tried to bully China with more an ...

Your favorite person is Banned to Post  Expire date 2018-08-08 08:32
Human lives mean little when those in the WEST see a bigger gain through war

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Post time 2018-8-3 16:47:06 |Display all floors
US has only one serious intention. That is to create problems to economy of China. If US succeeds, US will have to pay for it with greater than expected damages that US itself may not have thought of! Setting fire in home of neighbor could witness helplessly complet burn down of one's own house! MARK THESE WORDS!

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Post time 2018-8-5 04:12:44 |Display all floors
Changing times require changing policies. Just because America’s trade practices made sense decades ago does not mean these same trade practices make sense in the 21st century.

We have moved beyond the post-World War II and Cold War period when America’s economic dominance was unchallenged and trade concessions were essential to worldwide economic growth. While our trading partners’ economies have meaningfully improved, America’s approach to trade failed to adjust, leading to increasingly large trade deficits.

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Post time 2018-8-5 14:14:26 |Display all floors
1626548377 Post time: 2018-8-3 11:04
Your favorite person is Banned to Post  Expire date 2018-08-08 08:32

Do you mean he will be released on 2018-08-08?  Rumormongering! He needs at least 3 years to be fully rehabilitated!

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