Today’s Poll: Do you support increase in steel tariff?
Steel tariffs are horrible for everybody except the billionaire steel plant owners.
Last year, U.S. steel production increased by 5 percent to 90 billion tons. The U.S. steel industry is not being hurt by producers in other countries. The U.S. producers control 72 percent of the domestic market so they're not being beat by producers from other countries.
According to Gen. Mattis, the military needs only three percent of our country's domestic production to meet any anticipated military production. So this isn't a defense issue.
This tariff is nothing but a tax on the American people. It will mean higher costs on a range of goods, from cars to washing machines. When prices go up, companies that rely on steel for production inputs either have to raise prices or eliminate jobs.
The idea that entering into a trade war is a good thing and that we can win is foolish. Nobody wins in trade wars.
As Friedman points out, in times of war, we blockade our enemy to prevent them from getting goods from us. In times of peace, by tariffs, we blockade ourselves to prevent us from getting goods from them.
The stable genius has gone on record as stating he knows more about isis then the Generals, so it only goes to show he knows more than General Mattis and the steel industry. Could it be this guy is still pissed because his television show didn't win an Emmy ?
I do agree with you Howard that a tariff on imported goods is a Tax on the American people and why anyone, besides the steel plant owners, would celebrate this is beyond me.