So much winning...

[jbluhm86]

FoxNews 5 Cleveland: Steel tariffs starting to take toll on manufacturers in Northeast Ohio

CLEVELAND - The cost of doing business with one commodity is creating a lot of concern in Northeast Ohio as the price of steel soars. One local manufacturer is painting a grim picture as the U.S. holds its position on imposing metal tariffs.

"That type of cost increase is not built into our profit model," said Bill Adler, the owner of Stripmatic Products. 

Adler said he is now paying a lot more for the material he needs to make automotive parts.

"The markets we currently supply are probably 90 to 95 percent automotive," Adler said.

Adler is worried about the fallout he’s already seeing and what it means long term if these tariffs stick around.

“Our prices have increased from 25 to 50 percent depending upon the product we're buying," Adler said.

The tariffs on steel are not only eating into profits, but stunting plans to diversify Adler’s business.

"We have not been all that successful."

A recent opportunity to start making parts for a different industry didn't pan out.

"The cost of stainless with the import tariffs just disqualified us from really being one of the players and being able to make that food processing equipment," said Adler.

That lost opportunity, along with soaring production costs, is poised to do long-term damage according to Adler.

"It's going to affect our profits, our employee's profit sharing, their ability to get pay increases, our ability to add new people and invest in new equipment," said Adler.

With the clock ticking, Adler is hopeful the over-saturation of foreign steel can be reigned in, and the tariffs will be rescinded.

"The key to this is how do we find the right tool to get China to not overproduce? The import tariffs are keeping every manufacturer awake at night," said Adler.

A recent estimate from a consulting firm predicts about 179,000 U.S. jobs could be lost, versus the 33,000 created as a result of the metal tariffs.

The last time the U.S. imposed tariffs on steel was back in 2002. Adler said it took his company four years to fully recover.

[calfoxwc]

I'm no expert here on tariff stuff, I do have a question.

We have a major trade deficit with other countries.

We try to even it up a bit, and they go nuts, and hit back to make it

uneven again.

This is our fault? There is no reason for them to give a crap that they are making fools of our country over trade,

and they just demand that they keep the huge advantage.

What else is there besides tariffs? Magic beans?

Our steel companies shut down due to unfair competition. Yeah, it's costly to start them back up again.

What am I missing here?

[jbluhm86]

1 hour ago, calfoxwc said:

I'm no expert here on tariff stuff, I do have a question.

We have a major trade deficit with other countries.

We try to even it up a bit, and they go nuts, and hit back to make it

uneven again.

This is our fault? There is no reason for them to give a crap that they are making fools of our country over trade,

and they just demand that they keep the huge advantage.

What else is there besides tariffs? Magic beans?

Our steel companies shut down due to unfair competition. Yeah, it's costly to start them back up again.

What am I missing here?

 

[calfoxwc]

the first video was bs, but the second one is really good. I would think if trade deficits are good,

then why are all these other countries fighting to keep the plus trade posture?

You'd think they would want trade deficits with the U.S.

Heck, I don't know. But farmers not being allowed to sell their mild to the E.U. reeks of unfair trade practice.

[Clevfan4life]

There's more to these deficits than we're being told Cal. In principle I agree, massive trade deficits aren't a good thing. Americans have stopped making sht because of it. We were being doggy walked into this technocratic wonderland where everything is digital and manufacturing is all done by robots. The issue that needs to be told to the American people is that our govt, complicit with major major corporations that enjoyed the nanometer proximity to the worlds number one credit spigot, shtcanned monetary policy decades ago...right around the time Lord Reagan was in office. Republicans were the massive deficit spenders for decades and chided any notion of sound fiscal responsibility as "tax and spend liberalism". Im not happy with democrats who want to raise sht tons of taxes on people but both parties show ZERO signs of reducing overall spending, so while I don't like taxes I recognize you can't put everything indefinitely on a credit card. We were only able to do that because we owned the credit machine. 

Please understand that if we play too hard ball with the rest of the world on trade, they may say fuk it and drop the dollar. People just don't understand the ramifications of that. Of course we have some leverage because a lot of these countries own a lot of our debt, but take it too far and they may say fuk you and be done with it. What then? Who's are trade partners then? We're pissing off Canada and Mexico. Who's left? 

[TexasAg1969]

6 hours ago, Clevfan4life said:

Please understand that if we play too hard ball with the rest of the world on trade, they may say fuk it and drop the dollar. People just don't understand the ramifications of that. Of course we have some leverage because a lot of these countries own a lot of our debt, but take it too far and they may say fuk you and be done with it. What then? Who's are trade partners then? We're pissing off Canada and Mexico. Who's left? 

The Duchy of Grand Finwick. Somehow they have kept their alliance with us despite King Donald.👱‍♂️

[Westside Steve]

8 minutes ago, TexasAg1969 said:

The Duchy of Grand Finwick. Somehow they have kept their alliance with us despite King Donald.👱‍♂️

Gloriana will never water the wine.

WSS

[TexasAg1969]

5 hours ago, Westside Steve said:

Gloriana will never water the wine.

WSS

Never water Pinot Grand Finwick. Unheard of.🍷👸

[MLD Woody]

 

[jbluhm86]

The Hill: US pork producers prepare for steep tariffs: 'I don't want to be the patriot who dies at the end of the war'

"U.S. pig farmers are bracing for another round of steep tariffs this week from China and Mexico following President Trump's decision to impose hefty tariffs on the two countries.

According to CNBC, some major U.S. pork producers fear they will lose a significant amount of money once China and Mexico implement the tariffs, forcing some to move their investments overseas.

China is expected to begin fetching a 25 percent tariff on U.S. pork imports on Friday. Mexico, which imposed a 10 percent tariff on pork imports last month, is expected to double its import tax to 20 percent on Thursday. CNBC reported that China's taxes will exceed 70 percent when combined with previous import taxes.

"We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in the U.S. is the right move if we won't be an exporting country," Ken Maschhoff, chairman of Maschhoff Family Foods and co-owner of the nation's biggest family-owned pork producer told CNBC.

Maschhoff told the outlet that the farm industry has been "asked to be good patriots."

"We have been. But I don't want to be the patriot who dies at the end of the war," he continued. "If we go out of business, it's tough to look at my kids and the 550 farm families that look us into the eye and our 1,400 employees."

[calfoxwc]

Let our country die off economically, via unfair trade practices, so the pork biz can keep making big money?

nah.

Mexico 132.4 BILLION in SURPLUS with us, and they dare put a tariff on pork from us?

FREAKING seriously? Sorry, pork co. - you lose.

*********************************************

Mexico posted the highest trade surpluses with the following countries:

• United States: US$132.4 billion (country-specific trade surplus in 2017)
• Canada: $1.6 billion.
• Colombia: $1.5 billion.
• Guatemala: $1.2 billion.
• Peru: $997.3 million.
• Venezuela: $961.7 million.
• Belgium: $916.3 million.
• Australia: $845.8 million.

[Canton Dawg]

The U.S. has the leverage in trade wars.

[Westside Steve]

So, assuming that hatred of trump is not your only motive, do those of you who are complaining so loudly think we would be better off just to turn a blind eye to China rampant violation of our intellectual property laws? Just allow them to do it so as to not anger them? That's the plan? Also remember that tariffs on our Goods will make them more expensive for Chinese people to purchase same as it works here.

 

WSS

[Clevfan4life]

1 hour ago, Canton Dawg said:

The U.S. has the leverage in trade wars.

and that leverage was lost when trump went to war with all our partners. why will anyone ofvthem capitulate now that they know all our industries will be facing pressure? soy for example. in a 1 to 1 war with china it may have been possible to alleviate some of those rariffs by finding other buyers....soy farmers may still have faced profit reduction but it would have been "something"

but why now would any of the other trading blocks we've pissed off help undermine chinas soy tariffs? they wont. and china wont undermine any tariffs imposed against us from any other xountry.

[DieHardBrownsFan]

We will easily win this one. Canada and Mexico will renegotiate or face some hard  hard times.

 

[calfoxwc]

I think it's stupid for other countries, who benefit by our trade deficit with them,

to go into a trade war. They desperately want to keep their trade surplus with us that much?

nah. Time to hard bargain and stop being their money tree.

[Canton Dawg]

6 hours ago, Clevfan4life said:

and that leverage was lost when trump went to war with all our partners. why will anyone ofvthem capitulate now that they know all our industries will be facing pressure? soy for example. in a 1 to 1 war with china it may have been possible to alleviate some of those rariffs by finding other buyers....soy farmers may still have faced profit reduction but it would have been "something"

but why now would any of the other trading blocks we've pissed off help undermine chinas soy tariffs? they wont. and china wont undermine any tariffs imposed against us from any other xountry.

What were you saying?

Germany willing to cut tariffs on US cars, lifting automakers’ shares

https://www.foxbusiness.com/politics/germany-willing-to-cut-tariffs-on-us-cars-lifting-automakers-shares

 

[DieHardBrownsFan]

Who will say' UNCLE' first?  Not the USA!   MAGA!

[Clevfan4life]

2 hours ago, Canton Dawg said:

What were you saying?

Germany willing to cut tariffs on US cars, lifting automakers’ shares

https://www.foxbusiness.com/politics/germany-willing-to-cut-tariffs-on-us-cars-lifting-automakers-shares

 

hey thats great, germany capitulated to bmw/mercedes etc etc who said we cant lose the american market. those are high end automobiles so they cant "dump" that product anywhere else.

look im relaying alot of things that i was personally told, like the soybean farmer diwn in dayton who is a republican and voted for trump....buuttttt, he has his realities on the ground whether he personally likes trump or not is irrelevant. he's gonna take a bath on the the tariffs

[Canton Dawg]

10 hours ago, Clevfan4life said:

hey thats great, germany capitulated to bmw/mercedes etc etc who said we cant lose the american market. those are high end automobiles so they cant "dump" that product anywhere else.

look im relaying alot of things that i was personally told, like the soybean farmer diwn in dayton who is a republican and voted for trump....buuttttt, he has his realities on the ground whether he personally likes trump or not is irrelevant. he's gonna take a bath on the the tariffs

Its simple economics, when you buy the most...you have the most leverage.

 

[calfoxwc]

btw, these tariffs are proposed, not actually taking effect. I believe most of all,

the idea is communication of the problem, and bargaining posturing.

[Clevfan4life]

3 hours ago, Canton Dawg said:

Its simple economics, when you buy the most...you have the most leverage.

 

with certain products, yes. other products can be sold or "dumped" in other markets. and germany is only bargaining with automobiles, there are other industries at stake in these tariffs

[Canton Dawg]

The U.S. is the number one exporter of food and agricultural products.

Lets see the Chinese try to beat our prices...it’s gonna get interesting.

[jbluhm86]

Dayton Daily News: China tariffs sink prices for Ohio soybean farmers

New tariffs start today on U.S. soybeans imported to China, but Ohio farmers have already been feeling the pinch.

The price for a bushel of soybeans sank 14 percent in June and as of Friday had fallen to $8.40 a bushel on the Chicago Board of Trade, with the soybean futures market tumbling down in anticipation of the 25 percent tariffs on U.S. soybean imports.

That’s below the break even price for producing soybeans, which is about $9.70 a bushel, said Sam Custer, Darke County OSU Extension educator.

“If they don’t have soybeans sold ahead of time and if the market doesn’t come back up, you’re looking at being a dollar and a half under production cost on every bushel they produce,” Custer said...

...Ohio agricultural groups worked for decades to build up a market in China. Nearly a third of Ohio’s $2.5 billion soybean crop gets exported directly to China, but that supply chain could be disrupted by the tariffs that make U.S. soybeans more expensive than soybeans from other countries, particularly in South America.

And once competitors like Brazil move in and start supplying those buyers with soybeans at a cheaper price, it could be hard for U.S. farmers to win back those carefully built relationships, said Allen Armstrong, president of the Ohio Soybean Association...

...The tariff could drop China’s imports of soybeans by 69 percent on average. That would mean instead of a third of U.S. soybean crop being exported to China, only about a fifth would be.

For Ohio, this would account for a decrease of roughly $241 million in the value of soybean exports, according to a report from Ohio State University.

[jbluhm86]

45 minutes ago, Canton Dawg said:

The U.S. is the number one exporter of food and agricultural products.

Lets see the Chinese try to beat our prices...it’s gonna get interesting.

Just like the above article mentioned, China will go to other countries like Brazil to pick up lost US agricultural production, and at a cheaper price than what the US was selling them.

[Clevfan4life]

but lets call the trade war a win for trump cause mercedes and bmw convinced the german govt to cave on auto tariffs. this is going to be a mesdy complicated affair that spans multitudes of industries and the true consequences may not be known for some time. im not saying its imposdible for the trump admin to come out ahead, but just like the nk deal....this is gonna take sometime and uneducated roobs need to pump the brakes talking about sht ur clearly know little to nothing about. 

the likely reality is that trump saves some industries at the exp of others. tge question than is will those industries he threw under the bus vote for him?

[Canton Dawg]

1 hour ago, jbluhm86 said:

Just like the above article mentioned, China will go to other countries like Brazil to pick up lost US agricultural production, and at a cheaper price than what the US was selling them.

We’ll see.

[Canton Dawg]

9 minutes ago, Clevfan4life said:

but lets call the trade war a win for trump cause mercedes and bmw convinced the german govt to cave on auto tariffs. this is going to be a mesdy complicated affair that spans multitudes of industries and the true consequences may not be known for some time. im not saying its imposdible for the trump admin to come out ahead, but just like the nk deal....this is gonna take sometime and uneducated roobs need to pump the brakes talking about sht ur clearly know little to nothing about. 

the likely reality is that trump saves some industries at the exp of others. tge question than is will those industries he threw under the bus vote for him?

My god you are full of sh!t.

[Clevfan4life]

3 hours ago, Canton Dawg said:

My god you are full of sh!t.

go ahead and tell me how, go on...

 

☕

[Canton Dawg]

9 hours ago, Clevfan4life said:

go ahead and tell me how, go on...

 

☕

You’re the court jester on this board.

☕️