automaker stocks already dropping due to insane tariffs

[Takket]

Evan WSJ can't make excuses!!!!!!!!

https://www.wsj.com/articles/trumps-tariff-folly-1519950205

This might be behind a paywall...... but the relevant paragraphs are below

Mr. Trump seems not to understand that steel-using industries in the U.S. employ some 6.5 million Americans, while steel makers employ about 140,000. Transportation industries, including aircraft and autos, account for about 40% of domestic steel consumption, followed by packaging with 20% and building construction with 15%. All will have to pay higher prices, making them less competitive globally and in the U.S.

Instead of importing steel to make goods in America, many companies will simply import the finished product made from cheaper steel or aluminum abroad. Mr. Trump fancies himself the savior of the U.S. auto industry, but he might note that Ford Motor shares fell 3% Thursday and GM’s fell 4%. U.S. Steel gained 5.8%. Mr. Trump has handed a giant gift to foreign car makers, which will now have a cost advantage over Detroit. How do you think that will play in Michigan in 2020?

The National Retail Federation called the tariffs a “tax on American families,” who will pay higher prices for canned goods and even beer in aluminum cans. Another name for this is the Trump voter tax.

The economic damage will quickly compound because other countries can and will retaliate against U.S. exports. Not steel, but against farm goods, Harley-Davidson motorcycles, Cummins engines, John Deere tractors, and much more.

[quartz007]

1. Same Tariffs as proposed by Bernie

If Bernie was for it, it must be good?

[comradebillyboy]

3. You're not supposed to notice those things.

[quartz007]

4. OK I will heed your advice

lol

[SamKnause]

8. Do you have a link stating Bernie supports tariffs ???

I have never heard him mention that he favors tariffs.

I did a quick search and can not find him stating he is in favor of tariffs.

He is in favor of fair trade, not free trade.

Trump said Bernie and him have similar views on trade.

Bernie did not say they have similar views.

[quartz007]

10. I do not have a database of links

because I read news voraciously on internet and if I kept links of everything I read, I will need a full time secretary.

[Nevernose]

15. Its a half-truth

Which is to say, it’s a way of lying.

Sanders did support imposing tariffs on Chinese and Japanese steel (which would not affect US industry as much as theirs). He wanted to do this specifically because China and Japan have been manipulating their currency so as to artificially inflate prices and they’ve been accused of “dumping” steel on the international/US markets, artificially and unfairly hurting US steel producers.

It’s hardly the same thing as Mango Unchained arbitrarily imposing a tariff on all countries.

[SamKnause]

16. Thank you.

I knew that.

I just wanted the poster to own up to it.

Thank you so much for telling the truth.

I refuse to argue with the Bernie bashers and haters.

That is why I didn't answer their weak reply to my question.

Have a great week.

[vercetti2021]

2. But MAGA!

Yeah so much winning everybody so much fucking winning.

&

[SCantiGOP]

5. He cant be that stupid

Trade wars are good?? That is a direct quote.
And his reasoning: if you have a $100 billion trade deficit, you just quit trading with that country and the deficit goes away! Simple, we win.

I have a $100 deficit every month with my gas station. I owe them $100; they never owe me anything. So I will quit trading with them and - simple! - I save $100 , problem solved.
Am I missing anything here?

[Takket]

6. yeah, you have no gas! LOL

I know you were being rhetorical.

[SCantiGOP]

7. No gas, or

I can go to the next gas station where I will be paying $120 a month.

[Iggo]

9. Yeah...gas.

[quartz007]

11. We better not stop importing from China

For openers if China loses $400-500 Billion exports to USA every year, there will be riots in Beijing and Tienanmen massacre will look like a pillow fight in comparison. We don't wish human tragedy in China, do we? They have 1500 million mouths to feed.

[roamer65]

13. China will flip to war production.

That’s what all industrial economies do when consumer demand drops significantly.

[quartz007]

14. That will be difficult

without $750 Billion pouring in from around the world EVERY YEAR with trade surplus. China will need to triple their police force to control rioting un employed.

[ProudLib72]

12. Mueller to The Don

"Well Donnie, how do those imported steel cuffs feel?"