The trade wars begin

[Phil Titola]

Trump and Pocahantas are aligned on this one. Let the partisan gymnastics begin.

It's dumb policy.

[bucket]

We're supposed to find out what steps we're taking against China after the markets close today. 

[Dugout DickStone]

It is nice to see Trump reach across the aisle and embrace some of the left's policies - even if they are stupid

[renocat]

From Reuters about China's ability to cripple our government and economy as it holds 1.7 trillion US securities.  This would hurt everyone.
"In a tit-for-tat response to the Trump administration’s plan for 25 percent duties on $50 billion of Chinese imports, China hit back with its own list of similar duties on key American imports including soybeans, planes, cars, beef and chemicals. But officials signaled no interest for now in bringing their vast holdings of U.S. Treasuries to the fight.

China held around $1.17 trillion of Treasuries as of the end of January, making it the largest of America's foreign creditors and the No. 2 overall owner of U.S. government bonds after the Federal Reserve. Any move by China to chop its Treasury portfolio could inflict significant harm on U.S. finances and global investors, driving bond yields higher and making it more costly to finance the federal government."

[puniraptor]

i'm sure japan feels great about being lumped in with china and russia

this will surely help our position in asia

[bucket]

https://twitter.com/mkraju/status/1001457584556183552

[sonofdaxjones]

Next up, resident LibBots explain how China's attempt to essentially seize the South China Sea isn't such a bad thing.

Since apparently, allowing the Chinese to do whatever they want/wanted from a trade perspective was perfectly fine.

I mean, it bankrupted a U.S. strategic minerals company that's now owned, by a Chinese company (among many other issues).

LIBBOTS, so worried about spy ware in one Chinese companies electronics yet don't seem to care that many of the U.S.'s core network technology and security devices are built in . . . China, but good ol 'Merica companies. 

[Rage Against the McKee]

https://www.cnbc.com/2018/05/31/trump-reportedly-said-he-wants-to-stop-german-luxury-car-imports-in-the-us.html

[steve dave]

it's a good old fashioned tariff off!

[steve dave]

[sonofdaxjones]

Were foreign companies bankrupting American businesses in the 1920's?

[sonofdaxjones]

Why did the EU countries refuse to negotiate unless the threat of tariffs were removed?

[treysolid]

Were foreign companies bankrupting American businesses in the 1920's?

So Volkswagon killed Pontiac? Good to know.

[sonofdaxjones]

Were foreign companies bankrupting American businesses in the 1920's?

So Volkswagon killed Pontiac? Good to know.

No GM did and that had nothing to do with steel, but, good effort I suppose.

[treysolid]

Were foreign companies bankrupting American businesses in the 1920's?

So Volkswagon killed Pontiac? Good to know.

No GM did and that had nothing to do with steel, but, good effort I suppose.

"Effort" would be my responsibility if I was the person who was trying to draw parallels between things that don't have parallels.

[treysolid]

So which European companies are bankrupting our steel and aluminum industries?

[sonofdaxjones]

So which European companies are bankrupting our steel and aluminum industries?

Apparently you haven't noticed the general trendline of the steel industry in the United States.

GM dumped Oldsmobile, Pontiac and Saturn because they were basically the exact same cars as most other GM lines only with slightly different body styles.  Built on the same chassis and platforms, unnecessary redundancy.   To turn those lines back into viable stand alone entities with their own real design shops and ability to essentially go their own way would have cost GM money they did not have.

Any other questions?

[Rage Against the McKee]

I think he wants to know how it makes sense to keep German cars out of the US, dax.

[sys]

https://www.cnbc.com/2018/05/31/trump-reportedly-said-he-wants-to-stop-german-luxury-car-imports-in-the-us.html

Trump reportedly told Macron that he would maintain the ban until no Mercedes-Benz cars are seen on Fifth Avenue in New York.

[Rage Against the McKee]

Janis Joplin is spinning in her grave.

[ChiComCat]

Kansas farmers are about to get screwed in order for Trump to win over some purple states.

[treysolid]

So which European companies are bankrupting our steel and aluminum industries?

Apparently you haven't noticed the general trendline of the steel industry in the United States.

GM dumped Oldsmobile, Pontiac and Saturn because they were basically the exact same cars as most other GM lines only with slightly different body styles.  Built on the same chassis and platforms, unnecessary redundancy.   To turn those lines back into viable stand alone entities with their own real design shops and ability to essentially go their own way would have cost GM money they did not have.

Any other questions?

I have noticed this. And I know something about this trend that you don't know - foreign companies may be holding the knife, but American companies put the knife in their hands. Throughout all of the 90s and the aughts, American companies that use lots of steel have sent their best metallurgical engineers to dumphole mills in india, china and other developing nations to teach them how to make high-quality steel. Because for those companies, it makes total sense - teach these other nations how to make really good steel = more supply = cheaper steel. Trump can apply the tariffs, but American manufacturers are just going to find new mills in other developing nations and coach 'em up. This isn't going to stop.

[sonofdaxjones]

So which European companies are bankrupting our steel and aluminum industries?

Apparently you haven't noticed the general trendline of the steel industry in the United States.

GM dumped Oldsmobile, Pontiac and Saturn because they were basically the exact same cars as most other GM lines only with slightly different body styles.  Built on the same chassis and platforms, unnecessary redundancy.   To turn those lines back into viable stand alone entities with their own real design shops and ability to essentially go their own way would have cost GM money they did not have.

Any other questions?

I have noticed this. And I know something about this trend that you don't know - foreign companies may be holding the knife, but American companies put the knife in their hands. Throughout all of the 90s and the aughts, American companies that use lots of steel have sent their best metallurgical engineers to dumphole mills in india, china and other developing nations to teach them how to make high-quality steel. Because for those companies, it makes total sense - teach these other nations how to make really good steel = more supply = cheaper steel. Trump can apply the tariffs, but American manufacturers are just going to find new mills in other developing nations and coach 'em up. This isn't going to stop.

Are Tariff's permanent things?  Was the EU invited to the negotiating table?   Will these tariffs drive more investment by European companies in the U.S. for things like plants etc. etc?

[Dugout DickStone]

So which European companies are bankrupting our steel and aluminum industries?

The motherfucking Dutch is the clear answer

[treysolid]

So which European companies are bankrupting our steel and aluminum industries?

Apparently you haven't noticed the general trendline of the steel industry in the United States.

GM dumped Oldsmobile, Pontiac and Saturn because they were basically the exact same cars as most other GM lines only with slightly different body styles.  Built on the same chassis and platforms, unnecessary redundancy.   To turn those lines back into viable stand alone entities with their own real design shops and ability to essentially go their own way would have cost GM money they did not have.

Any other questions?

I have noticed this. And I know something about this trend that you don't know - foreign companies may be holding the knife, but American companies put the knife in their hands. Throughout all of the 90s and the aughts, American companies that use lots of steel have sent their best metallurgical engineers to dumphole mills in india, china and other developing nations to teach them how to make high-quality steel. Because for those companies, it makes total sense - teach these other nations how to make really good steel = more supply = cheaper steel. Trump can apply the tariffs, but American manufacturers are just going to find new mills in other developing nations and coach 'em up. This isn't going to stop.

Are Tariff's permanent things?  Was the EU invited to the negotiating table?   Will these tariffs drive more investment by European companies in the U.S. for things like plants etc. etc?

No. You think European Steel and Aluminum companies are going to build mills in the US?      Sure, I mean, if they like losing money