Skip to comments.US Commerce Dept recommends steep curbs on steel, aluminium imports
Posted on 02/19/2018 7:13:15 PM PST by cba123
WASHINGTON: The US Commerce Department has recommended that President Donald Trump impose steep curbs on steel and aluminium imports from China and other countries ranging from global and country-specific tariffs to broad import quotas, according to proposals released on Friday.
Chinas Commerce Ministry responded by saying the report was baseless and did not accord with the facts, and that China would take necessary steps to protects its interests if the final decision affects China.
(please see full article at the link)
(Excerpt) Read more at thesundaily.my ...
A third option called for Trump to impose global quotas based on 63% of each countrys 2017 steel exports and based on 87% of their aluminium exports to the United States. Reuters
You mean like allow metal to be profitable here again? I call that winning.
China has been dumping steel forever. I can remember my uncle, who owned a machine shop, buying their steel 50 years ago
Maybe 30 years ago?
Ten years ago was 2008.
Twenty years ago was 1998.
Thirty years ago was 1988.
Forty years ago was 1978. That was pretty much around when China opened its doors.
I think that is the earliest possibility of him buying from them, though I doubt even then. 1988 would be when they really just STARTED to export to us.
Maybe 30 years ago?
50 years ago? No quite.
Selling below cost for decades ?
LOL - you realize how silly that is
In a manner of speaking, yes.
China’s industries. All their industries. But PARTICULARLY their steel industry, things like that, are supported by the central communist government.
100%. Supported. Propped up. Subsidized. Funded.
China WANTS to eliminate other sources. They do that by underpricing.
It is time for us to wake up, and it seems like Trump may finally, be the person to do that.
I do not think she is being silly, at all.
China following the Walmart model.
Jack up the price of raw steel and you kneecap every downstream industry that uses steel. GWB tried this early in his term. A friend who runs a metal stamping plant that makes parts for many U.S. manufacturers across a wide variety of product lines told me that with 43’s import duties his price for raw steel exceeded the price of finished parts imported from Mexico and elsewhere. Bush reconsidered when the U.S. automakers, heavy equipment manufacturers and machine tools industries started getting hammered. Trump will learn the same lesson.
Try thinking a little deeper. That’ll push the manufacture of more metal-based products offshore completely and invite retaliation.
It’s an all-around tricky situation.
Whoops...yes....30 years ago
Yes. We just put tariffs on washing machines to help domestic producers. Now we are going to put tariffs on the steel and aluminum they use, taking away any cost advantage they had against imports.
Yet another angle on it.
Trump will learn the same lesson.
I don’t think so. Trump won’t sell out our industrial future for a few cents. He has more sense.
I’ve been waiting 20 years for a POTUS with the gumption to cause China some pain. WINNING.
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