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Sun Jul 8, 2018, 01:16 PM

Trump's Tariffs Have Led to Layoffs at U.S. Manufacturers

http://fortune.com/2018/07/05/trump-tariffs-us-layoffs/

Despite his promising to be “the greatest jobs producer that God ever created” after winning the presidency, Trump’s recent slew of overseas tariffs has led to an increasing number of job losses at home.

America’s largest nail manufacturer, Mid-Continent Nail, became the first company to lay off employees as a result of Trump’s tariffs in mid-June. The Missouri-based company made its nails with steel imported from Mexico, but Trump’s 25% tax on steel dealt a blow to production. Sixty employees lost their jobs, and the whole company—which employs 500—could be out of business by Labor Day, said the Washington Post.

REC Silicon, which produces polysilicon for solar equipment, laid off 100 employees Monday as a “direct result of the ongoing solar trade dispute between China and the United States,” said company officials. The manufacturer has been closed off to the Chinese market since 2014, affecting overall sales. The Washington state-based company has reduced production to about a quarter of capacity due to these trade disputes.

Industry coalitions have warned that tariff increases will cause job losses in the future. The Solar Energy Industries Association estimated that new tariffs imposed by the Trump administration will lead to the loss of 23,000 jobs in the U.S. solar sector. BMW and General Motors each sent letters to the Commerce Department warning that new tariffs could lead to higher car prices and job cuts at production plants. Volvo had promised to hire 4,000 new employees for a new plant in South Carolina, but has said it may have to break this promise as a result of new tariffs.

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Response to jpak (Original post)

Sun Jul 8, 2018, 01:21 PM

1. I wonder how many fell for tRump's bullshit. How do you reach these voters, that tRump is using

them as stooges to enrich himself and his cohorts. Unbelievable ...

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Response to RKP5637 (Reply #1)

Sun Jul 8, 2018, 01:24 PM

2. We don't 'reach' Trump voters, we beat them in the polls

They’ve made up their minds and are only confused by facts. We should stop trying to win them over. They have the same access to facts we do. They are accountable for their own willful choices.

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Response to lunatica (Reply #2)

Sun Jul 8, 2018, 01:27 PM

3. It's absolutely incredible. They are literally brain dead when it comes to Trump and his herd. n/t

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Response to lunatica (Reply #2)

Sun Jul 8, 2018, 01:27 PM

4. Damn right, fuck em

 

They're only going to blame Obama for this anyway, Trump and Fox News will see to that narrative and they'll eat it up.

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Response to MariaCSR (Reply #4)

Fri Jul 13, 2018, 07:34 AM

13. Exactly

I’m done with this bullshit reaching out and understanding of Branch Trumpvidians.

People not liking my attitude can kiss my ass.

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Response to RKP5637 (Reply #1)

Mon Jul 9, 2018, 01:01 PM

7. Is what he is doing any different from what Bernie proposed?

Wasn't Clinton running against two people who were proposing the same solution to our trade deficient? Bernie was for the repeal of NAFTA and against the huge Transpacific Trade Agreement? Wasn't he for tariffs? I didn't hear him talk about reexamination and adjustment of what needed correction. I will agree that Hilary didn't do a very good job of courting the working class vote. But neither did she mislead them. I agree that we should have gone after China big time. But it should have been with the allegiance of our allies. We don't know if Trump is a Russian agent or a misguided screwball, but we do know that he is undermining NATO and all of our allies.

I remember when Michael Moore said after Bernie entered that race that Trump would be elected president. He is now saying that Trump will win reelection. He hopes not, but that is his prediction. Both were promising to turn back the clock and the factories would be hiring millions. I didn't hear from Trump or Sanders the fact that 85% the loss of jobs is attributable to automation. Well Bernie didn't waste any time cancelling his membership in the Democratic Party. I sure as hell haven't seen him out on the campaign trail supporting Democrats or attending fund raisers. Yeah, I know all about the fact he votes with the Democrats. Then why in hell doesn't he support the party? I am open to all criticism. I just don't get it.

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Response to olegramps (Reply #7)

Mon Jul 9, 2018, 07:32 PM

10. Same here, I don't get it either! n/t

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Response to RKP5637 (Reply #1)

Mon Jul 9, 2018, 04:20 PM

9. He's still spewing the BS on jobs

His speeches are full of how he's created millions of jobs, when the US normally produces about 2 million new jobs per year in a normal economy. The reality is that his first year in office was mediocre in terms of jobs, and worse than any of the last 5 years of Obama.

This year is tracking to be a little better than 2017, but there is no wage growth, especially after you take into account rising gas prices and healthcare costs.

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Response to NewJeffCT (Reply #9)

Mon Jul 9, 2018, 07:32 PM

11. He's a total blob of perpetual BS. n/t

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Response to jpak (Original post)

Sun Jul 8, 2018, 01:56 PM

5. OTOH, if Trump lays off the tariffs, then he'll claim that he "created jobs".

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Response to no_hypocrisy (Reply #5)

Mon Jul 9, 2018, 01:03 PM

8. +1. Create an artificial crisis, "solve" it, and claim credit

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Response to jpak (Original post)

Sun Jul 8, 2018, 02:29 PM

6. Also killing the lobster people, soybean farmers. It will go on and on. Misguided and stupid.

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Response to jpak (Original post)

Wed Jul 11, 2018, 01:56 AM

12. it's a mess for manufacturers

They are having to put teams in place to figure out the tariff problem. Some manufacturers who outsource to China will have some components, made in the US, then sent to China for finishing, and then buy them back. These are deals that were set up long ago and now are making it impossible to sell their finished products. Expect layoffs from that too.

There will surely be a dip in productivity numbers when the reality of this mess hits. There may even be an outright loss of certain products.

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