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Winning: Due to tariffs, Mid Continent Nail Corporation laying off


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https://www.politico.com/story/2018/06/26/us-automakers-trump-administration-car-tariffs-653654

 

A tax on foreign autos could have far deeper impacts than the steel and aluminum duties Trump has already imposed. The U.S. imported some $360 billion in cars, car parts and engines last year, compared to $29 billion in steel and $18 billion in aluminum.

 

“This would widen the trade war tenfold,” said Rufus Yerxa, a former trade official who now leads the National Foreign Trade Council. “It’s a whole different ballgame from steel.”

 

A 25 percent tariff, as the administration has threatened, would lead to a loss of 195,000 jobs in the U.S. auto industry over a three-year period, as production would drop off by 1.5 percent, according to a recent study from the Peterson Institute for International Economics. The study projected that if other countries retaliate, U.S. job losses could reach 624,000.

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1 hour ago, Starkiller said:

https://www.politico.com/story/2018/06/26/us-automakers-trump-administration-car-tariffs-653654

 

A tax on foreign autos could have far deeper impacts than the steel and aluminum duties Trump has already imposed. The U.S. imported some $360 billion in cars, car parts and engines last year, compared to $29 billion in steel and $18 billion in aluminum.

 

“This would widen the trade war tenfold,” said Rufus Yerxa, a former trade official who now leads the National Foreign Trade Council. “It’s a whole different ballgame from steel.”

 

A 25 percent tariff, as the administration has threatened, would lead to a loss of 195,000 jobs in the U.S. auto industry over a three-year period, as production would drop off by 1.5 percent, according to a recent study from the Peterson Institute for International Economics. The study projected that if other countries retaliate, U.S. job losses could reach 624,000.

Well, we should refer to the wisdom of master global tradesman, Ben, much like his mentor, Trump, "what happens IF, IF we win this trade war?"

 

 What further deep, educated thought does anyone need? 

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2 hours ago, Rogue said:

Well, we should refer to the wisdom of master global tradesman, Ben, much like his mentor, Trump, "what happens IF, IF we win this trade war?"

 

 What further deep, educated thought does anyone need? 

Something has to be done with our debt. Eventually the interest payments are going to eat up a huge portion of our budget. 

 

Trump’s idea is basically a race to the bottom. He’s essentially testing the US economy against the entire world. It isn’t something we can win. What we could have done is to have been strategic. That’s not a term in his vocabulary. 

 

 

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