https://www.reuters.com/world/us/bi...nese-metals-steel-city-pittsburgh-2024-04-17/ This will lead to more inflation. Raising prices on autos and even aluminum cans.
I have had a long belief that we should subsidize our industry by paying for the pollution controls we require. It would be a win win. Our industry is more competitive, and we get a healthier environment.
While I dont think anyone gives a shit about the principle of "free trade" other than economics nerds, its an interesting gambit adopting all the policies of the guy you defeated in a previous election (tariffs, unconditional support for Israel and doing Bibi's bidding, reactionary immigration policy, etc).
This is going to play heavily into this discussion. US Steel potentially being bought by Japan Nippon https://www.reuters.com/markets/dea...by-nippon-steel-bloomberg-reports-2024-04-12/
Biden is obviously playing to the steelworkers in PA. I would oppose this on national security issues.
Just more pandering. You can’t win a trade war with China, and you can’t bring the steel industry back. It’s like Trump with coal. That said, sending a message to Beijing every once in a while isn’t terrible.
Dumb policy choice. Hopefully, it doesn't happen. Still better than a complete tariff that Trump has proposed, but going Trump-lite on inflationary policies (see also immigration) is not good policy. Unfortunately, our dumb electoral college system incentivizes these sorts of bad policies.
people give a chit about vital industries being put out of business by gubmnt subsidized industries from enemy countries.
would you prefer the us steel industry to be put out of business by cheap, low grade CCCP subsidized steel produced in factories with much higher pollution discharges?
with our lower cost of energy input, there is no reason that the steel industry can't compete on a level playing field. lose the industry and the skills required and then what happens when China decides to invade Taiwan. Do without steel or look the other way while China takes over all the semiconductor industry in Taiwan
I am all for free trade, so if a foreign government is subsidizing their industry, steel in this example, I don't have a problem with tariffs that offset the foreign subsidy to get things back to equal. And for the record I don't know what level of subsidy the Chinese steel is receiving from their government.
Capitalism is powerless in the face of communism, I guess. "Enemy" countries are ones we arent even at war with now too, I guess. Good luck with free trade/capitalism working with that mindset.
