Emerging trade war with America
Discussion
So it looks like the starting gun has been fired by Mr Magoo - 25% import tarrif on steel and 10% on aluminium, with counties affected threatening to respond in kind.
I don't think there have been any major trade wars recently and Google doesn't come up with much, so what do people think will happen?
Is this the beginning of a long slow war of attrition between Trump and the rest of the world?
Will things escalate quickly?
Who wins?
Trump says it's easy to win trade wars so it's probably just bad for everyone except him....
I don't think there have been any major trade wars recently and Google doesn't come up with much, so what do people think will happen?
Is this the beginning of a long slow war of attrition between Trump and the rest of the world?
Will things escalate quickly?
Who wins?
Trump says it's easy to win trade wars so it's probably just bad for everyone except him....
Bbc has some info:
Five reasons why trade wars aren't easy to win - http://www.bbc.co.uk/news/business-43262278
Five reasons why trade wars aren't easy to win - http://www.bbc.co.uk/news/business-43262278
On US ordinary Joe bought a can of soup for a 1.99 and said the actual increase in the cost of the metal would not matter and no one would care.
https://www.cnbc.com/2018/03/02/wilbur-ross-tariff...
https://www.cnbc.com/2018/03/02/wilbur-ross-tariff...
jmorgan said:
On US ordinary Joe bought a can of soup for a 1.99 and said the actual increase in the cost of the metal would not matter and no one would care.
https://www.cnbc.com/2018/03/02/wilbur-ross-tariff...
Does he know everybody's opinion or was that really just his own?https://www.cnbc.com/2018/03/02/wilbur-ross-tariff...
Other countries will huff and puff and threaten to blow the USA's house down and then do.......absolutely f
k all. Trump can bang his America first drum, Muricans will pay an extra cent for their can of sausages. a couple of old steel and aluminium plants in the mid west will be recommisioned and all will be well in the world.
k all. Trump can bang his America first drum, Muricans will pay an extra cent for their can of sausages. a couple of old steel and aluminium plants in the mid west will be recommisioned and all will be well in the world.If you can produce it at home but you are faced with unfair advantages as a result of cheap labour/lack of corporate governance etc in countries such as India and China - then why not impose a tax that doesn't outlaw the import but makes it an even keel for your home producers?
I remember when Sheffield steel meant something.
I remember when Sheffield steel meant something.
George Smiley said:
If you can produce it at home but you are faced with unfair advantages as a result of cheap labour/lack of corporate governance etc in countries such as India and China - then why not impose a tax that doesn't outlaw the import but makes it an even keel for your home producers?
Because it harms your own economy, it benefits your steel producers at the expense of everyone else. If you really must help out uncompetitive producers give them a tax break, even better help the staff get retrained.The problem with Trump is that he imagines imports are bad, it's like servicing your car yourself because you think you are saving money, then finding that a local garage can service your car cheaper than you can do it yourself and responding by demanding a VAT increase so that you can carry on saving money by doing it yourself.
George Smiley said:
We've proven that liberalism has failed. We are proving globalisation is failing.
Trump is a destructor. He likes breaking things.He doesn't care if he alienates his allies. This move damages South Korea - which is an odd stance to make when the target should be the other lot north of the border.
He's an idiot. He's fixed nothing so far and only caused damage.
The steel tariff story offers an interesting perspective in negotiation positioning. I am not commenting on the political value of Donald Trump's move on the steel market, but on its relevance as example of how some negotiators behave: This is an opening salvo. If you negotiated for a living you'd understand how people like Trump work: Heavy opening, shock and awe, to then retrace to a position which will "look" acceptable as he pictured a trade embargo in your mind. It works most of the time.
That's what I expect to happen. Bit like with the wall.
That's what I expect to happen. Bit like with the wall.
stuckmojo said:
The steel tariff story offers an interesting perspective in negotiation positioning. I am not commenting on the political value of Donald Trump's move on the steel market, but on its relevance as example of how some negotiators behave: This is an opening salvo. If you negotiated for a living you'd understand how people like Trump work: Heavy opening, shock and awe, to then retrace to a position which will "look" acceptable as he pictured a trade embargo in your mind. It works most of the time.
That's what I expect to happen. Bit like with the wall.
You give him far too much credit for strategic manoeuvering. He may back down on this stance - not because he's some "master tactician" but because he is a moron and doesn't know what he is doing.That's what I expect to happen. Bit like with the wall.
George Smiley said:
If you can produce it at home but you are faced with unfair advantages as a result of cheap labour/lack of corporate governance etc in countries such as India and China - then why not impose a tax that doesn't outlaw the import but makes it an even keel for your home producers?
I remember when Sheffield steel meant something.
Well done falling for Trumpet’s rhetoric.I remember when Sheffield steel meant something.
The two largest suppliers to the US (by far) are Canada and the EU. Within the EU, the UK, Germany, Spain, Italy and France are the largest producers so not even the old communist countries.
But yes, let’s blame India and China for dumping cheap inferior products, it sounds so much better.
Eric Mc said:
You give him far too much credit for strategic manoeuvering. He may back down on this stance - not because he's some "master tactician" but because he is a moron and doesn't know what he is doing.
Possibly correct. But the same thinking blind sided those who believed he could never become the President of the US.(I don't like the guy at all, just in case anyone is wondering)
George Smiley said:
I remember when Sheffield Steel meant something.
Usually the impending appearance of Joe Cocker.....https://www.amazon.co.uk/Sheffield-steel-Joe-Cocke...
although some preferred British Steel,
https://www.amazon.co.uk/British-Steel-Judas-Pries...
Chris944_S2 said:
George Smiley said:
If you can produce it at home but you are faced with unfair advantages as a result of cheap labour/lack of corporate governance etc in countries such as India and China - then why not impose a tax that doesn't outlaw the import but makes it an even keel for your home producers?
I remember when Sheffield steel meant something.
Well done falling for Trumpet’s rhetoric.I remember when Sheffield steel meant something.
The two largest suppliers to the US (by far) are Canada and the EU. Within the EU, the UK, Germany, Spain, Italy and France are the largest producers so not even the old communist countries.
But yes, let’s blame India and China for dumping cheap inferior products, it sounds so much better.
stuckmojo said:
Eric Mc said:
You give him far too much credit for strategic manoeuvering. He may back down on this stance - not because he's some "master tactician" but because he is a moron and doesn't know what he is doing.
Possibly correct. But the same thinking blind sided those who believed he could never become the President of the US.(I don't like the guy at all, just in case anyone is wondering)
You can fool all of the people some of the time.
But you can't fool all of the people all of the time.
Said once by a very wise President.
Eric Mc said:
stuckmojo said:
Eric Mc said:
You give him far too much credit for strategic manoeuvering. He may back down on this stance - not because he's some "master tactician" but because he is a moron and doesn't know what he is doing.
Possibly correct. But the same thinking blind sided those who believed he could never become the President of the US.(I don't like the guy at all, just in case anyone is wondering)
You can fool all of the people some of the time.
But you can't fool all of the people all of the time.
Said once by a very wise President.
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