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rump's trade wars

(32 Posts)
varian Sat 02-Jun-18 10:32:19

Donald Trump is imposing a 25% tariff on imported steel and 10% on auminium.

A Newsweek report published in 2016 found Trump used cheap Chinese steel and aluminum in two of his recent construction projects and went to great lengths to cover his tracks. Donald Trump turned his back on the U.S. steel and aluminum industries but, somehow, is claiming to be its savior. -

"Donald Trump used Chinese steel and aluminum. The United States has a long history of producing high-quality steel and aluminum, but Trump chose Chinese manufacturers in at least two of his recent construction projects. The Trump International Hotel Las Vegas and the Trump International Hotel & Tower Chicago both used tons of Chinese metals. The origin of the steel used was obscured. The origin of the steel used to build the Trump hotel in Las Vegas was hidden through a tangle of “various corporate entities, including holding companies registered in the British Virgin Islands," a popular location for offshore entities who place a premium on, ahem, discretion.

Trump spent at least $350 million on Chinese aluminum. Newsweek estimated Trump used 207,000 feet of Chinese aluminum for the Trump hotel in Chicago. Conservative estimates based on pound per foot means at least $350 million in sales went to a subsidiary of a Chinese aluminum manufacturer. This, when the American aluminum industry is collapsing. In the past two years, “more than half of the country’s aluminum smelters in states like Ohio, West Virginia and Texas have closed as a result of being undercut on price by competition from overseas.”

This report was published before the presidential election, and yet huge numbers of "rustbelt" voters still chose Trump!!!

varian Sat 02-Jun-18 10:33:10

Trump's not rump's - perhaps a freudian slip!

NfkDumpling Sat 02-Jun-18 10:40:25

Apparently he’s not starting a trade war, it’s just a step in a renotiating process. His idea of getting better terms seems to be to go to the last, final threat first and then changing his mind. Only he doesn’t just threaten it, he does it and then changes back. His style of business to keep everyone on their toes and nervous. It may have worked with North Korea - changing his mind about a meeting just to show he can, and then changing it back again to try to get a better deal - but I think he may have misjudged this one.

lemongrove Sat 02-Jun-18 12:49:50

This is disappointing....thought the rump may indicate an interesting thread! grin
It gets people looking anyway Varian.
Good analysis Nfk I think you are very likely right.

petra Sat 02-Jun-18 13:32:55

We are always complaining that politicians never keep their word when campaigning. He said he was going to do something for the steel workers: well now he has.
I believe that once we are out of the eu, trade tariffs between us and the US will change.

gillybob Sat 02-Jun-18 16:14:44

I really can’t blame him for keeping his ejection promise and getting a better deal for the US steel workers. I think maybe some people just look for reasons to dislike him. The US economy is booming at the minute so he must be doing something right .

gillybob Sat 02-Jun-18 16:16:49

It’s a pity none of our political parties give a monkey’s toot about our steel workers and infact most other heavy industry . Oh yes silly me , they tend to be Northern and therefore don’t count .

Eloethan Sun 03-Jun-18 01:20:28

I can't stand Trump and think this sudden imposition of a 25% tariff is very foolhardy and damaging to world stability.

However, I think the globalisation of markets has to some extent resulted in a "race to the bottom". I don't believe the answer is to start a trade war - that will just cause chaos. I think the various economies of the world should focus more on co-operation rather than competition and try and establish who should be making what in order avoid over-production and massive surpluses. Easier said than done I know, but perhaps a new approach is needed.

Fennel Sun 03-Jun-18 09:25:04

I wonder if he's had to do it because the US economy isn't as healthy as he pretends?

Luckygirl Sun 03-Jun-18 09:33:07

"ejection promise" - wishful thinking maybe?! grin

Luckygirl Sun 03-Jun-18 09:38:02

But I do agree that he is doing what he said on his tin.

Lazigirl Sun 03-Jun-18 09:45:19

I think Trump promises big (to keep his core supporters happy) but delivers small. His followers remember his declared agenda more than the outcome. ie Obama Care hasn't been dismantled, Mexican Wall, and now downplaying what is achievable in N. Korea for example?

Fennel Sun 03-Jun-18 12:00:17

Varian in the OP
'This report was published before the presidential election, and yet huge numbers of "rustbelt" voters still chose Trump!!!'
A similar thing happened in the last french pres. election - much of Marine LePen's support came from the NE France rustbelt.

gillybob Sun 03-Jun-18 12:42:53

I think when the rich get considerably richer and the poor get considerably poorer then there is always a danger of politicians with extreme views gaining support . People need something to cling to.

Fennel Sun 03-Jun-18 13:14:49

That's true, gilly.
And also the kind of situation that Hitler exploited in the early 30s depression.

NfkDumpling Sun 03-Jun-18 15:17:25

Yes Fennel, its worrying.

varian Mon 04-Jun-18 15:03:19

It seems to be all too easy for right wing politicians and media proprietors to exploit the discontent and anger of those who are having a hard life.

It does not seem to matter that they should be blaming our present and past governments for their woes - it seems to be easy to find another villain to pin the blame on -foreigners, immigrants, the EU, "them".

This has happened so many times in history and the only possible solution has to be a fairer society and better education so that their ignorance cannot be exploited .

varian Thu 07-Jun-18 11:48:56

Republicans are finally reaching their breaking point with President Donald Trump on trade.

One faction of GOP senators is pushing Sen. Bob Corker's (R-Tenn.) legislation that would allow Congress to block Trump's tariffs — which Trump is trying to kill before it comes to the Senate floor. Another group is holding private meetings with Trump, hoping it can convince him via back-channel negotiations to back off a brewing trade war with U.S. allies before Congress steps in.

varian Tue 26-Jun-18 09:16:07

That most iconic American company, Harley Davidson, has announced it will relocate much of its production abroad to avoid the increased tarrifs imposed by Europe in response to Trump's hike in tarrifs on imports. What did he expect?

JenniferEccles Tue 26-Jun-18 10:25:53

Talking of Trump, I was very interested to read that according to Thomas Markle, Prince Harry is 'willing to give him a chance'.

That has always been my view actually, but of course so many people have decided they hate him, so will never give him any credit for any achievements.

As has been said, he vowed to help US industries, and that is what he is doing.

varian Tue 26-Jun-18 10:37:11

How is his trade was helping Harley Davidson?

varian Tue 26-Jun-18 11:50:25

Trump's trade was is harming Harley Davidson, not helping it in any way

SueDonim Tue 26-Jun-18 12:52:03

According to the BBC the cost of metals for industry has now risen for American manufacturers! I'm not sure how that's supposed to help their industry.

Lazigirl Tue 26-Jun-18 16:00:09

Didn't protectionist trade tariffs by America play a big part in the 1930s Depression starting a global trade war, which if it did not cause the Depression at least it exacerbated it? Let's hope we're not at the start of a similar situation now, particularly as Brexit looms.

varian Thu 28-Jun-18 17:23:26

During his election campaign Trump liked to accuse his opponents of being "the elite". He said "Globalization has made the financial elite who donate to politicians very wealthy. But it has left millions of our workers with nothing but poverty and heartache. I want you to imagine how much better our future can be if we declare independence from the elites who’ve led us to one financial and foreign policy disaster after another. I was on the right side of that issue — with the people — while Hillary, as always, stood with the elites."

Now he seems to have turned that statement upside down, saying: "We have more money and more brains and better houses and apartments and nicer boats. We are smarter than they are. They say the elite. We are the elite. You are the elite. "