Trump announces 25% tariffs on steel and aluminum, risking inflation on promise of more jobs

Oh my god, uncertainty!

That’s…good?

Canada, Mexico, Brazil, South Korea, and Japan are the top five countries that export steel to the United States. Roughly half of all aluminum used in the U.S. is imported, The vast majority comes from neighboring Canada.

An increase in the price of can drinks.

Wages are up, unemployment is down, so that keeps ahead of the inflation inherited from the dismal Biden years.

Wages are up, unemployment is down, 

Fantastic! What policies did Trump enact to make this happen, exactly?

Keep ruining economy, clown..

Fantastic! What policies did Trump enact to make this happen, exactly?

It's kind of like by his being elected, corporate optimism rose and so the economy as a whole that got driven down by Biden is getting revitalized. Companies have faith in Trump's plans, and are inspired by his policy of making the border more secure, and thus making communities safer in which to live, invest, and work.

The Trump Effect!

But I agree with you--it is fantastic!

That's why America voted for him--and all this positiveness and he hasn't even been in office for one month yet!!!

The cheering for Trump by the Super Bowl crowd is also a great reflection of the new, Golden Age of America.

The US cannot produce all of its steel or all of the types of steel needed. The US can produce basic steel, many specialized types of steel needed for specific industries are often sourced from overseas.

'Taxpayers paid over $20 million for Felon Donald Trump to attend half the Super Bowl. He reportedly left before Halftime. Where is DOGE at?'

It's kind of like by his being elected, corporate optimism rose and so the economy as a whole that got driven down by Biden is getting revitalized. Companies have faith in Trump's plans, and are inspired by his policy of making the border more secure, and thus making communities safer in which to live, invest, and work.

This is just fantasy talk. "Corporate optimism" doesn't raise wages and create jobs, especially not in 3 weeks. What concrete, actual policies led to those? Detailed numbers, please.

Trump announces 25% tariffs on steel and aluminium, risking inflation on promise of more jobs

Well I doubt the "retail" or US steel will hang around to find out.

There is a simple solution, however laden with risk, Global brands to just manufacture, move assembly manufacturing to US.

Cant beat them join them!

For my business New Jersey, and UK employees will relocate.

“The ideal that every citizen of the United States should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative.”

I hope sincerely they find that to be the case.

Great!

What a genius

It only impacts specific geographic areas in Canada, and Quebec in particular gets zero sympathy from the rest of the country for tariffs on aluminum. zero, zip, they can stew in their own juices, no reason for the Canadian government to retaliate.

“Howard Lutnick, Trump's pick to be commerce secretary, said that the strengthened tariffs would bring 120,000 jobs back to the United States. It wasn't clear how he reached that number.”

oh, non-maga people know where he pulled that number out of.

the guy was holding back laughter when he said he supported a u.s. sovereign wealth fund.

I don't quite understand how more expensive inputs help manufacturing. Or construction, or anyone else.

Trump obviously doesn't care, but importing steel and aluminum equals outsourcing emissions. Its an easy way to score eco points. Its also an easy way to get someone else to use masses of electricity that your own grid might not be able to provide. If you build a smelter, expect local electricity prices to go up.

Where was Quebec when India put tariffs on pulse crops from Western Canada? Nowhere. And just last weak their premier said Quebec would not allow a pipeline for oil from Western Canada to cross its territory so that Eastern Canada could stop importing oil from Saudi Arabia and Russia.

Quebec can go to heck if they expect sympathy for US putting tariffs on their products.

Thank you Trump!

The seriously flawed nature of Trump's trade imbalance thinking is he expects the US to have a perfect trade balance or surplus with all countries.

That's just not possible in this era of global trading.

Sure there are some country deficits that could be better managed through a number of means including more cooperative methods, but a blanket Them vs US tariff plan is so simplistic in it's reckoning as to be an embarrassment.

US profited with trade imbalances in it's favor for decades allowing it grow strong and establish economic dominion over a wide domain.

Now other countries, especially developing, are following suit it's bad, it's nasty, it's unfair, it's intolerable.

No country can achieve supreme trade surpluses from the world and any inkling to do so is doomed to failure.

Particularly when you're screwing your long time close friends.

From a newssource:

"The Saudis are furious. The Danes are scrambling. Colombia has backed down. Mexico and Canada stand in a purgatory between tariff wars with the US and … not. China has retaliated, launching a trade war between the economic superpowers. The Brits, long proud of their “special relationship” with the United States, are leaning into their tradition of quiet diplomacy."

is he expects the US to have a perfect trade balance or surplus with all countries.

yes of course this would be the case unless some other benefit is being provided to us outside of what would be called “trade”

like if you, not us, were securing our mutual border to our benefit.

This is just fantasy talk. "Corporate optimism" doesn't raise wages and create jobs, especially not in 3 weeks.

Strange fantasy you're having there.

What concrete, actual policies led to those? Detailed numbers, please.

It's pretty concrete Trump became the president and immediately upon his inauguration the stock market soared. Bank stocks especially. Crypto too. Oh, and are you aware of Stargate/ Here's a number--$500 billion.

Stock market since Trump took office.

In the first two weeks since Trump’s inauguration in January, the market is essentially flat. The S&P 500 opened just under 6,000 on the day Trump took office, and two weeks later, was again just under 6,000.

Any Americans who voted for either Dems or Reps, and any citizens of US vassal states who voted for the same old same old have no right to complain. Deal with it.

In the first two weeks since Trump’s inauguration in January

how did I know your article was dated Feb 4th and is outdated and inaccurate?

hint: it’s been 3 weeks.

It's pretty concrete Trump became the president and immediately upon his inauguration the stock market soared. Bank stocks especially. Crypto too.

And they all crashed a few days later when he started talking about his silly tariffs. So what's your point?

Blacklabel - thanks for your response.

Yes a perfectly balanced Trade Account is desirable but unachievable.

In the 21st C as manufacturing of needed products has broadened globally, old export - import paradigms are no longer feasible.

USs technical superiority allowed it to produce stuff that the world wanted.

For Example - at the height of US productivity in 1970 imports were 5.2% of GDP and exports 5.6% - a very +ive balance for the US.

Fast forward to 2023 when the world has started to catch up to US tech production, imports were 16% of GDP and exports 11.6%. A turn around of $Billions resulting in a deficit.

Trump wants Made in America but to realize that is going to take more than idle threats and promises.

Getting Apple to manufacture i-phones in the US would require a gigantic shift in scale of operations and result in a product price way beyond the realms of ordinary consumers. Now they sell for between $500 ~ $1,550 depending on models. Make in the US and expect that to be at least 3 fold and possibly more.

100s of other examples abound which show one reason why perfect trade balance just won't be achievable.

On the subject of tariffs, I can't believe a word that comes out of Trump's mouth. He questions when looking at the deals made with Canada and Mexico and has the gall to question by saying things like "I looked at these deals and say who the hell made these deals", but if you recall back in November of 2018, Trump signed a new trade deal with Canada and Mexico and called it the best trade deal ever made. So, is it bad, or is it good? Things that make you go hmmm....

Politicians know toss all about real world economics. Nationalist are particularly destructive.

But consider: US Population: 335 million. RotW population: 7,665 million.

Just pivot away from the US for a bit. Leave Trump to do his own thing.