Commerce Secretary Wilbur Ross Discusses Steel Tariffs: “People Are Exaggerating Considerably”…

The professional financial class are going bananas at the steel and aluminum tariffs being implemented by the Trump administration.  As expected, most of the apoplectic drum-beating is coming from the Wall Street crowd.  This same Wall Street crowd conveniently overlooks that last year the EU imposed even HIGHER tariffs on steel and aluminum than the Trump administration is proposing now.

Laughably this group of talking heads is pitching the trade and economic position of Canada and the EU in their talking points. However, the hypocrisy is off the charts.

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If you think the professional financial class are over-the-top now, just wait until the administration pulls out of NAFTA. These are the battles that matter. The administration is directly over the target. The multinational corporate crowd, including their corporately owned media, are pushing a fundamentally false set of talking points; their economic dishonesty reflects their desperation.

When Main Street economic principles are applied Wall Street will initially lose. There’s no way for this not to happen. Most of Wall Street is built on the Multinational platform of economic globalism. Weaken the grip of the multinational corporations and financial interests on the U.S. economy and Wall Street will drop… this is not difficult to predict. This is also necessary.

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This entry was posted in Big Government, Canada, Decepticons, Deep State, Dem Hypocrisy, Economy, European Union, media bias, Notorious Liars, President Trump, Taxes, Trade Deal, Uncategorized, US Treasury, USA. Bookmark the permalink.

190 Responses to Commerce Secretary Wilbur Ross Discusses Steel Tariffs: “People Are Exaggerating Considerably”…

  1. Little Annie’s Fannie says:

    They have gone loony! Time to leave NAFTA was 16 years ago!! (Or more)

    Liked by 5 people

    • Cuppa Covfefe says:

      Never should have entered it. And we should leave/disband the WTO at the same time.

      Any organization that is “global” is by definition antithetical to “We The People”, be they the people of the USA, the people of Germany, the people of Ireland, or the (admittedly few) people of Antarctica… [all of Opus’s relatives, I suspect]…

      Liked by 3 people

  2. Everywhereguy says:

    Lowering the BOOM

    First?

    Liked by 3 people

    • fleporeblog says:

      Wow! Varney and Maria B. have been exposed today by our Wilburine and peter Navarro!

      Liked by 4 people

  3. appadoo9 says:

    I like like Steel Stocks, you can’t beat the leader, Steel Dynamics, STLD. Bull Market in this one started January 2, 2013, and outperformed everyone else, hands down

    Liked by 4 people

  4. sundance says:

    Liked by 21 people

  5. Redhotsnowman says:

    Sundance is the best professor I’ve ever had in my very long life on this planet.

    If you think the professional financial class are over-the-top now, just wait until the administration pulls out of NAFTA. These are the battles that matter. The administration is directly over the target. The multinational corporate crowd, including their corporately owned media, are pushing a fundamentally false set of talking points; their economic dishonesty reflects their desperation.

    When Main Street economic principles are applied Wall Street will initially lose. There’s no way for this not to happen. Most of Wall Street is built on the Multinational platform of economic globalism. Weaken the grip of the multinational corporations and financial interests on the U.S. economy and Wall Street will drop… this is not difficult to predict. This is also necessary.

    Liked by 17 people

    • wolfmoon1776 says:

      Wall Street is going to have to re-write some vulture code so that the automation hurts China instead of America when all is said and done.

      BOO-FREAKING-HOO

      Liked by 14 people

    • Marty Lopez says:

      Our elite, governing class, at the behest of and for the benefit of multi national, global corporations, which were seeking greater market share in the new global economy sold us all out in order to obtain access to China’s domestic market, one of the world’s largest, third world consumer bases. It began back in 1989-1990 under the first Bush Presidency. Clinton agreed to moved it forward with NAFTA, fast track, up, or down and we the American people were railroaded before anyone knew what had hit them.

      The Chinese simply ran with it and outplayed them, Wall Street, Silicone Valley and these wiz kid CEOs. And so did the Mexicans and just about every other nation. President Trump says they made the worst deals imaginable, these corporate traitors, our ruling elites, but the truth is they were prepared to do so because they all made a killing for themselves and their cronies in the process. They killed our manufacturing base, paid off the Chinese communists and the Mexican patrons and still realized a giant premium in our domestic market while gaining some short term limited market access in the third world.

      America lost jobs, whole industries and just about all of our technological advantages. In return, we got massive debt and trade imbalances, but the multi national corporations themselves made huge profits at the expense of the American middle class, which was made to pay a huge price for their ignorance and disengagement in their own domestic, political process.

      This isn’t any misjudgment by America’s corporate business leaders. It is and has always been from the start, treason as a business strategy. Suddenly, the entire paradigm of nationalism was seen as a hindrance to profitability. Our ruling elite felt no loyalty to America, the American people and certainly not to America’s middle classes whom they systematically set out to destroy.

      Corporate America sold us out in favor of a New World Order in which they could circumvent the American government and any restrictions it might decide to make and everyone in America, as well as in the rest of the world knows it. The whole plan was always to weaken America sufficiently so that we could never again be a strong, independent, or sovereign nation of any import.

      Corporate, multi nationals would have then co-opted your American citizenship as they have already begun doing. When your country is impotent, left with neither resources, nor military power, what benefits do citizenship confer? The American citizenry were to be left essentially on an equal footing with the third world, migrant populations, which is to say as no more than as units of labor and as hungry and predictable consumers forever on a survival footing with insatiable appetites.

      Of course this suited the Democrats and their liberal base who are at their core Anti American and certainly opposed to any concept of “American Exceptionalism.” The Democratic Party was always willing to concede anything for a reliable political base with which to maintain their positions of power, which in turn is leveraged into socialistic control and redistribution for purposes of corruption and self reinforcement. Politics is their business after all and not any calling. To a Central American Mestizo peasant, it’s a deal made in heaven, free benefits in the first world for an illegal ballot. They migrated by the millions, tens of millions.

      And then there are the country club RINOs who naturally fall to the corporate dividends and stock ownership side of the ledger. The middle class were left to pick up the tab. They lost their jobs, the manufacturing base, their middle class status and the quality of life everywhere around them as the infrastructure crumbled under neglect and the new immigrant demands.

      And here is the bottom line. Forgive the pun, but they came within a Trump of pulling it all of, this ruling elite. And here’s the part Pat Buchanan never seems to comprehend in his columns. Destroying America was always part of the plan. Our leaders thought they didn’t need us anymore. The truth is closer to the fact that we don’t need them. The question is how to loosen their grip around our collective necks. President Trump’s election speaks to just this point, but it is only the first step.

      Truth is the have had such complete control over America’s political system and for so long now, that they became complacent and arrogant. The Chinese showed them for what they really are, piss poor businessmen, incompetent and corrupt, weak and unworthy and, now we will most likely inevitably have to pay a price in blood. The American people will first have to find the courage to face the truth before they can do anything about it.

      Liked by 2 people

  6. chojun says:

    I don’t think Wall St. will lose in this. I simply think a rebalancing is going on, where Wall St is becoming more representative of the main St economy and less representative of the globalist economy. Multinational corporations structured to benefit from the exfiltration of US wealth or exploitation of trade imbalances are the ones that are going to be wiped out unless they sign onto the America first agenda.

    Liked by 20 people

    • magatrump says:

      Very good post. I agree 1000%. MAGA

      Liked by 5 people

    • fleporeblog says:

      BINGO! Take a close look at the close today. The Russell 2000 represents American Companies. See how they did versus the rest.

      DJIA – 24538.06 / -70.92 / -0.29%
      S&P 500 – 2691.25 / +13.58 / +0.51%
      Nasdaq – 7257.87 / +77.31 / +1.08%
      Russell 2000 – 1533.17 / +25.78 / +1.71%

      Liked by 8 people

  7. Clara says:

    It is so funny to watch the “left wing” Washington Post and NY Times go apoplectic over tariffs. They are all just showing their true globalism colors now. The masks are off. The headline screaming from the front pages of newspapers across the country today should be “Labor Unions Back Trump on Tariffs.” Instead, the bombshell fact that the unions are backing a conservative Republican, let alone Donald J. Trump, on ANYTHING, is being buried deep in the stories, if mentioned at all.

    Liked by 7 people

    • thedoc00 says:

      The vast majority of Labor Union organizations have moved beyond representing workers. They have become employment agencies run by staff’s taking in 6-figure salaries as well as money laundering operations for organized crime and political cronies.

      Liked by 8 people

      • WhistlingPast says:

        +1

        And we’ll still take a truncheon to the head of any mug that don’t like it, see?

        Liked by 1 person

      • stephenreed says:

        Trump had a listening session with union leaders with respect to NAFTA. I believe that the rank and file are loving this president.

        Liked by 4 people

      • Deplorable_Infidel says:

        There was a time and place for unions in the private sector. It was 75-100 years ago. We have OSHA now to address a lot of the abuse on the employer side towards employees. Now the tide has turned and it is the Unions abusing the employers.

        The public sector unions are among the worst. There are state wide offices, duplicated by the same offices in each of the nine regions the state government is broken up into.

        There was one Union Rep. in western NYS that did no work at all for years. Said he was doing “union business” according to the contract. The “contract” should have mandated detailed records of just what he was doing.

        There should have been a private investigator assigned to prove fraud on his part. Fortunately he is retired now so we do not have to hear about him on the local news scene. So he can kick back and enjoy his hefty annual payout.

        Liked by 4 people

        • Remington says:

          Also grew up in Western NY….Family were all union shop stewards, etc…Bad news. I remember my uncle telling us that he was defending a certain worker that worked the night shift at a certain aircraft manufacturing co. “You can’t fire him for that..” they thought it was a joke until that Company moved to Texas. Unions went out with high button shoes.

          Liked by 1 person

        • Here in the People’s Republic of Taxachusetts the reactionary unions are beloved. The current mayor of Boston, Marty Walsh, owes his election to his late uncle, the former head of the local Laborers Union. Marty himself was a union thug, who used his state representative job to promote and do union business. The union thugocracy keeps the rank and file dumb and scared.

          Like

        • Matthew LeBlanc says:

          Public Sector Unions should be illegal if they already aren’t unconstitutional.

          Liked by 1 person

    • Just wait until he kills NAFTA. The rust belt will be dark red for the next 20 years.

      Liked by 9 people

      • The Boss says:

        I am putting investment money aside for that very event. Established, successful companies with little to no international exposure will go on deep discount for a couple of days.

        Liked by 2 people

        • stephenreed says:

          New York State and others are ready for a tech driven manufacturing boom – I believe. Huge markets will be there for the taking – simple make that imported stuff here in the USA.

          By skipping a generation or two of tooling and processes, greenfield USA factories can be right-sized versions of Musk’s famous Gigafactory. Interest rates must rise of course as all these promising manufacturing expansions and startups compete for funding – and that makes the US stock market figure out the trade off between racing corporate earnings, rising interest and rampant wage inflation.

          Liked by 2 people

          • Deplorable_Infidel says:

            I hope you are right and we get MAGA-rolled here.. Governor Cuomo has kept upstate shackled despite the glitzy TV commercials we are bombarded with that tout his upstate development efforts. Those are just thinly veiled re-election campaign ads running continuously to keep the electorate placated and ensure another term, in case he is bypassed for a bid for higher office.

            If he really wanted to unshackle the economy, he would have approve fracking for oil and gas, instead of rejecting it on some flimsy environmental grounds. The companies have figured out how to do it safely. The early problems in the northeast were caused by using practices that worked fine in arid Texas, not water rich NYS.

            However, fracking would mean a boom like what occurred in western PA that would unleash an increase of the population of upstate. He wants the population of downstate to overwhelm upstate. Hence all the illegals and immigrants flooding NYC. Then when the next census rolls around, the districts will be redone and the entire state will be held captive to the downstate demoncRATS.

            Liked by 4 people

        • Moved a bunch into HGY for short period…glad I did. The kettle be aboilin’ and the bawlin’ is just starting…Tango Yanko OUR VSG PDJT!!! Great news for a Friday News Dump!!!!

          Liked by 1 person

    • I was very surprised to read that also. Not only are they backing him, but apparently they’ve been trying to get tariffs on steel for years. From thehill.com:
      AFL-CIO Lauds Trump Tariffs
      http://thehill.com/homenews/administration/376368-afl-cio-lauds-trumps-move-to-impose-tariffs

      Liked by 1 person

  8. thedoc00 says:

    This turbulence is going to continue because over the past 20 years, the large multi-nationals have gained the financial high ground in our markets and within our economy. They were given bailout money during the fake crash of 2008-09 to strengthen their financial positions overseas and Obama shipped $100’s more via his “Green Investments” overseas to fund foreign technology development. That cannot be ignored and until the battle between the administration and these corporations ends, hopefully with the multinationals realigning to “fair trade”, the swings in the “Wall Street” economy will continue while the economy of the US citizen (voter & consumer) potentially continues to grow.

    Liked by 3 people

  9. daughnworks247 says:

    I swear, if President Trump marched into Congress (a supportive Congress) and said we are raising tariff on China to 50%, and it was passed……
    China would fold within a month.
    CHINA is the problem, NOT the USA.
    China is cheating.

    Liked by 15 people

  10. Sayit2016 says:

    I was listening to Dan Bongino on these tariffs (TAX) — He is adamant this is a mistake in that there will be global retaliation- Canada is one of our main providers of steel– and they will raise their tax on our products. Hmmmm

    Liked by 1 person

    • appadoo9 says:

      and you know where canadian steel comes from, right?

      Liked by 12 people

    • Linda says:

      And when did an ex secret service agent become an economic expert?

      Liked by 6 people

      • Sayit2016 says:

        If you have listened to Bongino you would know- he has studied economics–

        Facts- There will be job loss as there are 6.5 million people that work in steel consuming industries.There are 140 K people producing steel-when you raise the price of steel all products that USE steel the price goes up ie construction, cars etc. I am not saying that this won’t smooth out over time but initially this will be the immediate result.

        Not everyone is wrong and not everyone is right.

        Liked by 1 person

        • stephenreed says:

          I hope that economists capture all the data required to prove or disprove this hypothesis: That tariffs are harmful.

          Being a protectionist, I think that there is a velocity of money effect in which the new steel mills and aluminum factories have beneficial economic effects that propagate. Similarly, with the tariff, the consumers of imported steel and aluminum pay more. There is plenty of historical macro evidence in the USA during the 1800s that tariffs were great.

          Lets see what unfolds when the industries protected by Trump tariffs prosper as I expect.

          Liked by 4 people

          • Sayit2016 says:

            I agree Stephen– at the root of this are unfair taxes to the US– this must be corrected. I see it is a neutralizer to that practice. We shall see how this looks-say a year from now…my money is on Trump. I agree also that some of this has been sensationalized, which is typical for anything Trump implements– the proof will be in the pudding. ; )

            Liked by 2 people

          • Deplorable_Infidel says:

            I concur as well. The “free trade” ideal does not work in the real world because nations cheat for their own advantage. It just sounds and looks good on paper and in think-tank discussion groups.

            In many cultures, such as Morocco, swindling others that are no a part of your clan has been ingrained into the culture for centuries. That is why the founding fathers prescribed tariffs as the means for the fledgling nation to finance the government.

            See what happens when we do not heed their advice? The same can be said for our CIA meddling overseas, along with the MIC attempting to spread “western values” in countries that have no clue how to implement such values in a culture that is thousands of years older than ours. The money we wasted overseas could have and should have been used to repair our crumbling infrastructure.

            MAGA

            Liked by 5 people

      • Ditch Mitch says:

        I agree with Sayit.

        Education
        While working full time for the New York City Police Department, Daniel used his accrued vacation time to attend the City University of New York where he completed both his Bachelor’s and Master’s degrees in Psychology, concentrating in both Neuro-Psychology and Behavioral Learning. During his tenure as a Special Agent with the U.S. Secret Service, Daniel completed his second graduate degree, a Master’s of Business Administration at Penn State University, where he tested at the top of his class.

        https://web.archive.org/web/20120808110545/http://www.bongino.com/about.html

        Liked by 1 person

    • The Boss says:

      Bongino wants his gig on Fox News to keep going. It’s all about the money. He should stick to his core competency, which is not economics.

      Liked by 4 people

      • Sayit2016 says:

        Oh come on — Really you are going to slam Bongino ? There are facts that support what he is saying—the market took a 500 pt slide. Again, I am not saying this is permanent but that will be the initial response.

        Liked by 1 person

        • The Boss says:

          Yep! He earned a slam.

          Liked by 5 people

          • Sayit2016 says:

            No he doesn’t. Have a nice day ; )

            Liked by 1 person

            • I agree with Wilbur Ross: today’s drop was a combination of announcements and things being said, not just about tariffs. I don’t doubt Bongino’s intellect nor his research skills, but I’d like to point out that often, people have a tendency to focus on ONE maybe two perspectives of an area instead of the WHOLE enchilada. Some focus only on Keynes, others focus on Mises, others focus on Russell, etc. but VERY FEW focus on the entire history of economics, which spand the entire recorded history of the human race.

              Often what was done 30 years ago, will be pointed to as a fact;”See? Look what this country did when…” and that isn’t a very good way to study economics, as I, myself have learned, because there is often a LOT of underlying issues that were either eliminated in writing that history, or simply never even considered. So, while Bongino could be right, he could also be getting misinformed.

              Also remember: Markets are forward thinking. If this tariff scare had any real truth to it, then the participation ratio of sellers to buyers would have been OFF the charts. I don’t see that now and yet, markets will most likely go lower in the coming weeks – but we’re not going to crash and burn. Expect a base to be established within a few weeks.

              Just my opinion. 🙂

              Liked by 11 people

              • Sayit2016 says:

                I agree with you Mark– as I have learned that two conflicting things can both be true at the same time. I do not think it will be a crash and burn but an adjustment. Which is necessary.

                The stock market can behave sometimes like a hysterical little girl.

                Emotion/speculation drives it then it self corrects.

                As I said in an earlier post- a year or two from now we will see the fruit of this decision.

                But man am I getting hammered on this ; )

                Liked by 3 people

                • LOL!! Sorry, Sayit2016

                  I didn’t see your earlier post about seeing the “fruit of this decision”, but that is correct.

                  And sorry you’re getting hammered. But don’t feel bad. I posted a question on instagram the other day that was so stupid, I deserved the ridicule and mocking I got. But it was due to me typing a message while looking at something else and then my subconscious ended up typing words that I didn’t mean to type and I hit the “send” button before reviewing what I wrote.

                  I’d rather be getting hammered on an opinion that has merit than being made a total fool of because of your own stupidity 🙂

                  Liked by 1 person

                • Sayit2016 says:

                  I was accused of “MSN talking points” really ? OY. God forbid we actually discuss all aspects of this subject. People can be so touchy ! ; )

                  Liked by 1 person

                • Ahahahaha…
                  I know the feeling. But I look at it this way…

                  If your opponent loves our President and ONLY accuses you of “MSM talking points” then he/she is still a friend and patriot in my book, and one that can easily be forgiven. 🙂

                  Liked by 1 person

                • Sayit2016 says:

                  True— it is the snark that tends to tick me off. I am trying to see in my life where i have ever said of implied

                  Liked by 1 person

                • Sayit2016 says:

                  where I have ever said I know everything. Answer: never– life is a constant learning experience. “Would you mind supplying links to all your MSM talking points,other wise stop with the “I am the only one who knows what is going on”

                  ugh

                  Like

                • Deplorable_Infidel says:

                  “The stock market can behave sometimes like a hysterical little girl.”

                  So can gasoline prices.

                  Liked by 1 person

                • Sayit2016 says:

                  I am in Ca GOV Brown just keeps jacking up the gas prices. We are at 3.00 a gallon.

                  Like

              • CirclinTheDrain says:

                The markets are run by Wall Street bots and dark money pools…do you think they are cheering the resurgence of Main Street ?

                Why would you EVER base your opinion on what markets do ??? They’re as fake as the Fed.

                Like

                • If the markets are run by Wall Street, then why would any foreign government, bank, or international business want to do business with the U.S.?

                  If their run by bots, then tell me why do fibonacci retracements and extensions work even on charts going back over a 100 plus years? If bots and “dark money pools” were in control, then tell me who is willingly taking the losing side of each trade so that Wall Street always wins since public participation rate is nearly 60% less than it was back in the late 90s?

                  If bots and “dark money pools” using algorithmic programs were so damn accurate, why they hell are so many banks closing down their trading desks? How did all those Wall Street Titans lose their butts during the 2007-2009 crash if they control everything? The conspiracy that the 2007-2009 crash was all orchestrated is nothing more than an excuse for people to accept in order to make themselves comfortable about losing so much of their money after they entrusted it to financial advisers and gurus. LOTS of people were screaming about that crash before it happened and the cause of it, yet WALL STREET laughed at every one until it happened.

                  Like

        • Remington says:

          Say…did you listen to the video? I think Ross said you couldn’t blame that slide on the taffis alone. That same time the fed was talking about raising interest rates…..Kind of a combined effect..

          Liked by 2 people

          • Sayit2016 says:

            I was referring to the interview with Navarro. I have not see the interview with Ross yet. I agree- there were several mitigation factors.

            I have every confidence in these highly intelligent men.

            Like

          • Ditch Mitch says:

            Right. Wilburne also mentioned Powell probably going to 3 increases this year instead of 2. I have been saying it since the first dip in Jan. The market is based on models of free money. When that goes away all the free riders go away. wolfie mentioned the algorithms need to be adjusted (my words not his). And all those FBN gurus (except Kaputo, Gasbag and Lib) also mentioned the free money dip. That is until they panicked and/or told to talk up the tariffs.

            Like

        • And I got a headache yesterday. Was that due to the tariff announcement?
          Remember correlation is not necessarily causation.
          The market slide was also affected by the announcement that interest rates would go up faster and to a higher level.
          Higher interest rates have much bigger effect on the markets than the fact that a can of beer might go up by a penny.

          Liked by 2 people

        • NC PATRIOT says:

          Wall street economy is sometimes at odds with the main street economy.

          Liked by 2 people

    • stephenreed says:

      The president is correct in that the USA wins any trade war. Mutual rounds of retaliation just quicken the imposition of broadly effective measures to protect American workers from foreign price competition.

      This is based upon the fact that the USA would be better off with no trade – given the size of its deficits.

      Liked by 5 people

      • Sayit2016 says:

        I think at the end of the day you are correct- but that does not negate the fact that there will be a pinch up front.

        Liked by 1 person

        • TheWanderingStar says:

          I think the “pinch” as Sayit points out is an important event. This will spur those who consume these tariff’ed products to encourage local, least cost providers to expand production which in turn drives capital investment and job creation.

          Ultimately a strong manufacturing and industrial base is good for our national security and encourages self sufficiency. It also keeps currency at home and not in the pockets of the chi-comms who circumvent fair trade agreements by dumping, block outright and place tariffs on our products.

          Yes, there will be some structural price adjustments. But over time these will settle out.

          Liked by 4 people

      • Deplorable_Infidel says:

        There is one more important factor – that is trade in what? Finished goods or raw materials? We have to import certain things like chromium from Africa and the USSR because we have no known domestic source.

        Supposedly we have so much natural gas we could theoretically supply all of Europe, if the ships (CNG tankers*) were available to do it. I think it was “Popular Mechanics” magazine where I read about 5-7 years ago that there were plans to deepen some of our east coast ports to handle the traffic. Some of that required legislation and the opposition was saying that companies wanted to send our gas there and prices here would go up.

        *Compressed Natural Gas

        Liked by 1 person

        • stephenreed says:

          Overall the USA has a plentiful supply of foodstuffs, wind, solar, mineral resources and such. We are thus empowered in a trade economy in which raw materials and intellectual property are the main things traded.

          Liked by 2 people

      • G. Combs says:

        “…This is based upon the fact that the USA would be better off with no trade – given the size of its deficits.”

        YES!!!

        So many people do not realize that.

        Liked by 2 people

    • Elizabeth Carter says:

      Weren’t Canada and Mexico being used by China to access US markets by way of NAFTA? It is my understanding that when NAFTA goes down, China won’t bother with Canada or Mexico any longer. They just provided China with cheap access to the USA.

      Liked by 7 people

    • mdaush says:

      A Secret Service agent giving financial advice. That will go over well!
      Almost as good as a US Congressman who is in the pocket of the Deep State giving financial advice.

      Liked by 1 person

      • Sayit2016 says:

        Seriously? I find it interesting that you contend that Bongino does not have a firm grasp knowledge wise on the US economy. Have you ever even listened to him. He is not giving financial advice. He is simply discussing the market . What he has said is not unknown or untrue. Many financial ” experts” have been dead wrong, as we have seen time and time again. What you is your background in micro/macro economics?

        Like

  11. stephenreed says:

    I foresee a high tariff regime where working class wages rise dramatically, protected from foreign competition. Interestingly, it will be Trumpism that reduces the wage gap between rich and poor in the USA.

    Lincoln put the Republican Party on the path to dominance for decades with a high tariff policy. MAGA.

    Liked by 12 people

  12. PremAmerica says:

    If you want the cheapest loaf of bread you should move to Bangladesh.

    Macroeconomics is a good bit more complicated than procuring raw materials at the cheapest possible price…. Or even finished goods for that matter.

    There is this pesky thing called Purchasing Power. That’s what President Trump is focused on. He is the first President in my 33 years in America who is working to dramatically increase the Purchasing Power of Middle America.

    It will be a long battle.

    Liked by 12 people

  13. Everywhereguy says:

    Even newer news up now ——>

    Liked by 2 people

  14. Gary says:

    Three of the largest blast furnaces on earth were built in the United States, to the best of my knowledge only one was ever fired up. I think we can handle production of our own steel just fine.

    Liked by 8 people

    • Oldschool says:

      That’s what’s being overlooked here. How long will tariffs on imported steel have an impact once we ramp up our own production? POTUS is laying plans for major infrastruture. Whose steel do you want on our bridges, tunnels, buildings? I worked in the steel industry in the 70’s and 80’s. No one made better steel than us, no one.

      Liked by 4 people

      • kroesus says:

        they used cheap Chinese steel when they built the new Bay Bridge here and the walkway supports FAILED before it even opened for the public…….this on a bridge initially bid at around a $1B build to a $3B+ final cost

        Liked by 1 person

      • NC PATRIOT says:

        My Granddad spent his working life at Crucible Steel—-Pittsburgh, Pa.

        Liked by 1 person

  15. EV22 says:

    There should have been a discussion long ago about critical industries to our nation, especially those involved in our national defense and national well-being.

    Ten years ago, the Pentagon was worried about microchips being produced in China. Ya think?
    https://www.forbes.com/2008/09/04/pentagon-defense-contractors-biz-wash-cz_atg_0904beltway.html#103418478e84

    Most Americans have been on autopilot for so long they have no idea how bad things have gotten. And, until Trump, all of our leaders encouraged the American public to just go to sleep while our country was gutted from the inside out. Some “leaders”. /s

    I’m all in for a trade war if that’s what it takes to shake things up and get us back on track. I’d also like to see a discussion about our news media being foreign owned, critical infrastructure foreign owned, etc.

    MAGA

    Liked by 9 people

    • Deplorable_Infidel says:

      I mentioned on another thread a day or two ago about the concern that most of our security cameras are made in China. That includes ones used in our most sensitive installations.Now suppose those Internet – connected cameras have a hidden “back door”?

      Liked by 2 people

    • USTerminator says:

      Trade war is not going to happen. China is not stupid enough to risk their $400B trade surplus (+$200B more thru other third countries). EU might be stupid enough to start one but then Trump will eat them alive quickly and put those globalists out one and for all.

      Liked by 3 people

      • I’m going to slightly disagree with your first two sentences.

        I think there will be a trade war but it will be short lived because someone will realize it isn’t worth it.

        The other half of your statement I DO concur with 🙂

        Like

      • kroesus says:

        as has already been pointed out here at CTH MANY times…..we already ARE in a trade war and our leaders have CHOSEN to not fight back……PDJT has a different measure of the enemy than the traitorous and paid for “leaders” of this country

        Liked by 1 person

  16. This is funny, with all the hand wringing over tariffs the dow is only -85 now.

    Liked by 5 people

  17. Michael says:

    Does anyone in jurassic media ever look at the strategic importance of a healthy steel industry?
    Dependence on defense imports make us sheep in a world of wolves.

    The USA could survive w/o any imports were that desirable. However globalist would make a lot less money and it seems to me the rich/poor wealth gap would shrink.

    Also I wouldn’t want to sail a Chinese steel ship considering what their pipe and fittings look like.

    Liked by 6 people

  18. Dixie says:

    Remember, Sundance warned us way in advance that this would be a bumpy ride and he was right.

    Liked by 5 people

  19. TwoLaine says:

    Golly Gee, and to think I heard last night that Wilbur, Mnuchin and Cohn are PO’d at President TRUMP over the tariff’s.

    I look at this this way.You rip the bandaid off. It hurts for a little while, and before long you forget it ever hurt.

    The other thing is that President TRUMP just gave all these companies massive tax cuts, and they have the nerve to WHINE about a few pennies here and there. After the cuts they got they can surely afford a little more, until we can clear the deficits and bring out stell and jobs back..

    Liked by 4 people

  20. Michael says:

    http://www.thecanadianencyclopedia.ca/en/article/iron-and-steel-industry/
    Despite Canada’s formidable reserves of iron ore, the steel industry in recent decades has shrunk significantly as industrial markets have become increasingly globalized. Today, every remaining steel mill in the country is owned by foreign investors and Canada is a net importer of the manufactured product.

    Liked by 5 people

    • Gee…..
      I’m shocked…..really shocked

      Liked by 1 person

    • TheWanderingStar says:

      And why not? It’s easy just being the middle man for china and taking your cut as products move through your country on their way to the US.

      And, by the way, your ports, rail and truck lines stay busy moving chinese products to the US. Along with all of that are taxes and fees collected for the government (Canada, Mexico) which are then passed on to the US consumer.

      No heavy lifting in the building an industrial base or of resource development – avoiding conflicts with environmentalists which is an added SJW bonus.

      Liked by 1 person

  21. Bonitabaycane says:

    Our President and the Wolverine are fighting for American jobs. Isn’t it sad how Globalists are fighting for foreign jobs?

    Liked by 2 people

  22. kallibella says:

    The forgotten men and women of America will be forgotten no more, or words like that were spoken by POTUS Trump on his inauguration speech. Here we are. We are remembered by our great President.
    I can’t wait for us to kick NAFTA out of our lives!

    Liked by 4 people

  23. ForGodandCountry says:

    “the hypocrisy is off the charts”

    Liked by 2 people

  24. FBN you failed today

    Liked by 6 people

  25. ForGodandCountry says:

    QUOTE:

    “When Main Street economic principles are applied Wall Street will initially lose. There’s no way for this not to happen. Most of Wall Street is built on the Multinational platform of economic globalism. Weaken the grip of the multinational corporations and financial interests on the U.S. economy and Wall Street (DOW…S&P) will drop”

    PLEASE REREAD ^^^^^^ THIS

    Very important for setting expectations and preventing the panic which can quickly overwhelm…particularly on big down days.

    REMEMBER THIS and please help control the LoFo posters who will inevitably post accordingly.

    Suggest bookmarking this post’s link for reference and let’s all help Sundance out!

    Thanks in advance, core Treepers! 🙂

    #MAGA

    Liked by 6 people

  26. dmacleo says:

    I’ll be honest I have grave concerns of tariffs.
    first, unless mining/transport/smelting/processing regs are eased I don’t think it will help.
    2 on aluminum dont we still have to import bauxite? or is this another regs preventing mining issue?
    I hope I am wrong, IMO we should be fully self sufficient but epa rags and the like have killed that.
    also….steelworkers (unionized) need to realize that cannot get 80k a year to do their job.

    so….I am wary and hope I am wrong

    Like

    • Michael says:

      I’m curious.
      What is the appropriate wage for working in a steel mill?
      How much would it take to get you to work in a steel mill?
      What is the appropriate wage to bounce, kick, hit, a rubber ball?

      Liked by 1 person

      • dmacleo says:

        epends on aa of course (cost of living) but here…40k a year is good wage to pour a ladle and press buttons ion a machine to roll the material.

        Liked by 1 person

        • dmacleo says:

          damn typos should say depends on area

          Like

        • Michael says:

          How much to be a “wealth manager” sitting in an air conditioned office pushing buttons and schmoozing on the phone all day?

          No physical stress other than going to the racket club for workout and a massage, no danger of being burned alive, not having your lief expectancy shortened considerably by your working conditions.

          Like

        • Michael says:

          And playing with a rubber ball?

          Like

    • All American Snowflake says:

      au contaire. If baristas now get $16 – $20 an hour then steelworkers who do much more difficult and dangerous work should definitely get $80+k per year.

      Liked by 1 person

    • Deplorable_Infidel says:

      PDJT has been slashing regulations hindering growth and economic development. The MSM just is not telling you about it.

      Liked by 1 person

    • G. Combs says:

      “….unless mining/transport/smelting/processing regs are eased I don’t think it will help.”

      ERRRRrrr did you miss the CTH post a day or two ago when Mulvaney(?) said they were removing Regs so fast it would make your head spin?

      I think it was here: https://theconservativetreehouse.com/2018/02/24/omb-director-mick-mulvaney-cpac-discussion/

      Liked by 1 person

      • dmacleo says:

        yes read it, however STATE dep/epa depts can be stricter than federal. and coal is needed to provide the power to make the steel and states are forcing laws like covered hoppers/etc onto rail.
        decades of regs cannot be undone (IMO) in time to make the tariffs viable.
        so…its gonna hurt us for a bit. but its the medicine we need to take I guess, short term pain for longer turn returns

        Like

  27. sobriquet4u says:

    Whenever Wilbur Ross utters “first of all”…your fight or flight instinct should kick in…make sure you are adequately armed. The man is a Sage.

    Liked by 4 people

  28. Monadnock says:

    We are gonna build stuff HERE!

    Liked by 3 people

    • Matthew LeBlanc says:

      Having been in manufacturing my entire career it is such a beautiful thing to see.

      Liked by 4 people

      • TheWanderingStar says:

        The early part of my career was in semi-conductor manufacturing. Saw Motorola build several multi-billion plants and employ 10’s of thousands of people. Watched over the course of less than 10 years thousands laid off and all but 1 state-of-the-art semi-conductor plants get shuttered. All due to China and SE Asia dumping below cost dram onto the market.

        Liked by 1 person

  29. ukibob22 says:

    how can ukraine do profit from this together with the US? We can break russia but need intelligence backup to block russias kgb style operations (killing dissidents all over the world).

    Russia is weak but has 100.000 agents who maintain their oligarchick system. Ukraine is antirussian by DNA and can break everything until a new powerhouse is build, republican ukraine from Krimea to Novaja Semla. This can help a lot and destroy the paganist-mongolic power im Asia major. (russia+china)

    May the lord help us…

    Like

  30. Oldskool says:

    If some way to monitor, will be fun to watch the money inflows into the Chamber of Commerce go the way of the Clinton Foundation…straight down. No influence, graft to peddle…no money. Not sure which archangel is the President’s wing man but the events up to and including the election and to date have made a believer out of me.

    Liked by 1 person

  31. noman says:

    Who leaked the information that Trump was going to place Tariffs on Steel and aluminum weeks before Trump was going to announce it?

    Like

  32. G. Combs says:

    Some things for people to keep in mind when think about tariffs and imported goods.

    Why the ‘Local Multiplier Effect’ Always Counts

    The Local Multiplier Effect (LME) is a very valuable, hidden feature of our economies. The term refers to how many times dollars are recirculated within a local economy before leaving through the purchase of an import…..

    A Hypothetical Example

    Imagine a hypothetical influx of money, say one million dollars, entering a local economy. Now imagine these dollars are spent on local goods and services. Imagine that each of the local vendors who earned those dollars then re-spends that money on more local goods and services. Envision this cycle happening several times before this money is finally spent on imports – goods or services from outside the region.

    In this case, those one million dollars recirculating eight times would act much like eight million dollars by increasing revenue and income opportunities for local producers….

    It has been estimated that about a century ago, thriving industrial communities had a LME in the high 20s or low 30s. Today it’s estimated to be in the single digits. This reduction in the number of rounds that monies make has had an extremely negative effect on our local economies. All areas of community life are affected by this deficit. This lost treasure of local economies was never measured, monitored, managed or even acknowledged.

    Besides the obvious poverty-related problems of unemployment, underemployment, homelessness, and lack of funds for social and public health needs, there is also the issue of creating an unhealthy reliance on a vast commercial network of imported goods. Many areas of life become vulnerable to natural or man-made disasters which can interrupt this flow of goods. Securities as diverse as food to homeland could be greatly compromised by this kind of dependence….

    What is the ‘Velocity Of Money’

    The velocity of money is the rate at which money is exchanged from one transaction to another. It also refers to how much a unit of currency is used in a given period of time. Simply put, it’s the rate at which people spend money. The velocity of money is usually measured as a ratio of gross national product (GNP) to a country’s total supply of money.

    Velocity is important for measuring the rate at which money in circulation is used for purchasing goods and services, as this helps investors gauge how robust the economy is….

    Simply put, the velocity of money can be thought of as the turnover of the money supply…

    Liked by 3 people

  33. sunnydaze says:

    Sweden’s Electrolux Co. getting all stompy feet over the steel tariffs. Freezing investment in the U.S.:

    https://www.thelocal.se/20180302/electrolux-freezes-us-investments-to-send-a-message-to-trump

    Like

  34. usayes says:

    One thing I haven’t seen much discussion about is the ENFORCEMENT of the aluminum and steel tariffs. Hopefully the administration is gearing up for significant use of 19 USC 1592 against exporters and U.S. importer who try to evade the new tariffs (and i can assure you China will be the chief miscreant). Customs traditionally plays the enforcer and I hope they are given the tools they need to fight misdescription, transshipment and other practices known as commercial fraud. I can assure you that enforcement will be of major importance to the success of these tariffs.

    Liked by 1 person

  35. m lopez says:

    Our elite, governing class, at the behest of and for the benefit of multi national, global corporations, which were seeking greater market share in the new global economy sold us all out in order to obtain access to China’s domestic market, one of the world’s largest, third world consumer bases. It began back in 1989-1990 under the first Bush Presidency. Clinton agreed to moved it forward with NAFTA, fast track, up, or down and we the American people were railroaded before anyone knew what had hit them.

    The Chinese simply ran with it and outplayed them, Wall Street, Silicone Valley and these wiz kid CEOs. And so did the Mexicans and just about every other nation. President Trump says they made the worst deals imaginable, these corporate traitors, our ruling elites, but the truth is they were prepared to do so because they all made a killing for themselves and their cronies in the process. They killed our manufacturing base, paid off the Chinese communists and the Mexican patrons and still realized a giant premium in our domestic market while gaining some short term limited market access in the third world.

    America lost jobs, whole industries and just about all of our technological advantages. In return, we got massive debt and trade imbalances, but the multi national corporations themselves made huge profits at the expense of the American middle class, which was made to pay a huge price for their ignorance and disengagement in their own domestic, political process.

    This isn’t any misjudgment by America’s corporate business leaders. It is and has always been from the start, treason as a business strategy. Suddenly, the entire paradigm of nationalism was seen as a hindrance to profitability. Our ruling elite felt no loyalty to America, the American people and certainly not to America’s middle classes whom they systematically set out to destroy.

    Corporate America sold us out in favor of a New World Order in which they could circumvent the American government and any restrictions it might decide to make and everyone in America, as well as in the rest of the world knows it. The whole plan was always to weaken America sufficiently so that we could never again be a strong, independent, or sovereign nation of any import.

    Corporate, multi nationals would have then co-opted your American citizenship as they have already begun doing. When your country is impotent, left with neither resources, nor military power, what benefits do citizenship confer? The American citizenry were to be left essentially on an equal footing with the third world, migrant populations, which is to say as no more than as units of labor and as hungry and predictable consumers forever on a survival footing with insatiable appetites.

    Of course this suited the Democrats and their liberal base who are at their core Anti American and certainly opposed to any concept of “American Exceptionalism.” The Democratic Party was always willing to concede anything for a reliable political base with which to maintain their positions of power, which in turn is leveraged into socialistic control and redistribution for purposes of corruption and self reinforcement. Politics is their business after all and not any calling. To a Central American Mestizo peasant, it’s a deal made in heaven, free benefits in the first world for an illegal ballot. They migrated by the millions, tens of millions.

    And then there are the country club RINOs who naturally fall to the corporate dividends and stock ownership side of the ledger. The middle class were left to pick up the tab. They lost their jobs, the manufacturing base, their middle class status and the quality of life everywhere around them as the infrastructure crumbled under neglect and the new immigrant demands.

    And here is the bottom line. Forgive the pun, but they came within a Trump of pulling it all of, this ruling elite. And here’s the part Pat Buchanan never seems to comprehend in his columns. Destroying America was always part of the plan. Our leaders thought they didn’t need us anymore. The truth is closer to the fact that we don’t need them. The question is how to loosen their grip around our collective necks. President Trump’s election speaks to just this point, but it is only the first step.

    Truth is the have had such complete control over America’s political system and for so long now, that they became complacent and arrogant. The Chinese showed them for what they really are, piss poor businessmen, incompetent and corrupt, weak and unworthy and, now we will most likely inevitably have to pay a price in blood. The American people will first have to find the courage to face the truth before they can do anything about it.

    Like

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