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Tariffs: Saving American Jobs Since...Wait, What?

Discussion in 'General Discussion' started by Dave70968, Jun 25, 2018.

  1. Dave70968

    Dave70968 Sharpshooter

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    http://money.cnn.com/2018/06/25/news/companies/harley-davidson-motorcycles-tariffs-trump/index.html

    Harley-Davidson is already taking a hit in the trade fight between President Trump and European allies.

    The company is shifting some production of motorcycles for European customers out of the United States to avoid EU retaliatory tariffs.

    The EU is imposing tariffs on $3.2 billion worth of American goods, including motorcycles, orange juice, bourbon, peanut butter, motorboats, cigarettes and denim. They are a response to the Trump administration's tariffs on steel and aluminum imports from Europe.

    For motorcycles, the EU is raising its 6% tariff to 31%. That will make each bike about $2,200 more expensive to export, Harley said. Harley is not raising prices for customers. The company said it will take a hit of $30 million to $45 million for the rest of this year.

    Harley-Davidson's (HOG) stock fell 2% in premarket trading.

    This is a developing story.

    CNNMoney (New York) First published June 25, 2018: 8:30 AM ET​
     
  2. Shadowrider

    Shadowrider Sharpshooter

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    http://video.foxbusiness.com/v/5800401144001/?#sp=show-clips



    Trump tariffs drive $500M investment in a new Ohio steel plant

    Jun. 21, 2018 - 3:43 - JSW Steel USA CEO John Hritz says the company is investing $500M to build a steel plant in Ohio instead of India during a First on FOX Business interview with Edward Lawrence.
     
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  3. Hobbes

    Hobbes Sharpshooter

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    We've been here before.

    If you remember, the George W Bush administration tried a steel tariff and found that for every job they created in the steel industry they lost 4 jobs in industries that consume steel, chiefly auto workers.


    It would be nice if this administration could learn from the past instead of having to learn EVERYTHING the hard way.
     
  4. Shadowrider

    Shadowrider Sharpshooter

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    So why don't they buy their steel here instead of abroad? Let them go out of business if they can't figure out how to survive buying American materials. If their competitors can procure material under the same conditions, and make a profit, well maybe it's just the natural order of things? Oh well, anything for a headline I guess...
     
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  5. Hobbes

    Hobbes Sharpshooter

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    Would it shock you to learn that after the tariffs were imposed on imported steel, domestic steel manufacturers were emboldened to raise prices on US steel products as well.
    https://www.foxbusiness.com/markets...ariff-announcement-isnt-gouging-supplier-says

    The net result is that consumers pay more for products containing steel and aluminum, and US exports become less competitive abroad because they now cost more to produce than competitive products made in other countries.
    You're going to see a spike in inflation that will force the fed to raise interest rates faster than they had planned and it will be a drag on the economy.
    That's why the market is sideways since the tariffs were announced.
     
  6. Dave70968

    Dave70968 Sharpshooter

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    Cut off your nose to spite your face much?

    The reason is that American consumers want cheap stuff. See, e.g., Wal*Mart.
     
  7. tRidiot

    tRidiot Sharpshooter

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    Absolutely. We could certainly support American business if we wanted to talk with our wallets. We could also stop the illegal immigrant flood every year for people to come work as essentially slaves for pennies in the fields picking produce, but we'd rather have a subclass of brown workers living in abject poverty in the fields and under the employers' horrendous rules and conditions than pay more for a head of lettuce.

    Hypocrisy isn't limited to one party.
     
  8. Snake

    Snake Sharpshooter

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    Meh...its Hardly Davidson...almost dead anyway. And I agree with Shadowrider...buy your steel here The price is probably about the same now.
     
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  9. NikatKimber

    NikatKimber Moderator Staff Member

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    Nope. Like another poster mentioned, now US steel just adjusted their price up too.

    ****

    I addition to the "I want it for less" attitude, you have the "I want everything" attitude. The idea being that everyone should have high speed internet, fancy smart phones, tablets, big screen TVs with cable, new cars, etc etc.
     
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