Industries that get to raise their prices due to less competition tend to like it. The problem is the customers are hurt by it. And they result in retaliation that can hurt the customers even worse. It should be noted that less competition lowers innovation over the long-term as well.
The Candlemakers' Petition We candlemakers are suffering from the unfair competition of a foreign rival. This foreign manufacturer of light has such an advantage over us that he floods our domestic markets with his product. And he offers it at a fantastically low price. The moment this foreigner appears in our country, all our customers desert us and turn to him. As a result, an entire domestic industry is rendered completely stagnant. And even more, since the lighting industry has countless ramifications with other native industries, they, too, are injured. This foreign manufacturer who competes against us without mercy is none other than the sun itself! Here is our petition: Please pass a law ordering the closing of all windows, skylights, shutters, curtains, and blinds — that is, all openings, holes, and cracks through which the light of the sun is able to enter houses. This free sunlight is hurting the business of us deserving manufacturers of candles. Since we have always served our country well, gratitude demands that our country ought not to abandon us now to this unequal competition. First, if you make it as difficult as possible for the people to have access to natural light, and thus create an increased demand for artificial light, will not all domestic manufacturers be stimulated thereby? For example, if more tallow is consumed, naturally there must be more cattle and sheep. As a result, there will also be more meat, wool, and hides. There will even be more manure, which is the basis of agriculture.
And will significantly damage the American auto industry and by the way if both Trump and Biden were actually concerned with the American steel industry they wouldn't have vetoed the acquisition of US Steel by Nippon Steel, a transaction that would have resulted in hundreds of millions if not billions of dollars in new capital to upgrade and replace antiquated steel mills in the US. Steel, aluminum tariffs may hurt auto industry, supply chain risk expert says Nippon Steel’s Purchase Of U.S. Steel Will Improve The Economy Put differently, the combination of Nippon Steel and U.S. Steel would transform a smaller less productive U.S. steel manufacturer into a global leader than could produce better steel, more efficiently, and with fewer greenhouse gas emissions. A good deal, indeed. The benefits are particularly noteworthy compared to the status quo. Without a beneficial partner, U.S. Steel’s future remains cloudy with constrained growth prospects. Its ability to productively serve major U.S. manufacturers would remain limited, as would its value to core U.S. national interests. Alternatively, a revitalized company producing better products at better prices is a boon to both the U.S. manufacturing sector and to securing national interests.
Furniture manufacturer shuts down Canadian operations, moves production to N.Carolina - Furniture Today
While the tariffs did play a role in their decision to completely shut down their Canadian plant they opened their factory North Carolina in 2021 shortly after the company was acquired by a private equity firm and most likely because the wages of non-union workers in NC were lower than the wages of unionized Canadian workers in BC. Prepac was founded in Canada 45 years ago and locally owned until it was acquired by Canadian private equity firm TorQuest in 2019. The company invested $27 million to build its 260,000-square-foot facility in Whitsett, N.C., in 2021, a move that added 200 jobs.
Sometimes, countries that have brand new industries have to have tariffs for a time to compete with the quality and efficiency of foreign competitors that have been manufacturing for a long time. That generally does not apply to the U.S.
It's all part of the brilliance that is adding $12,000+ to the cost of the average car. Nice work, Trump. You've invented car inflation, and kicked it off at 25%.
When you repeat the talking points of the media, that is never right; I have to question your intelligence. They keep coming on a daily basis. America is going to make its own stuff, and the middle class will be compensated. I'll keep them coming, and you all can have your little smiley face and temper tantrums. Nvidia will spend hundreds of billions on US manufacturing, says CEO
Labor costs are often less expensive overseas. Infrastructure is also cheaper overseas. There's also a time cost if a company has overseas factories, as well as a labor training cost. While some companies will be able to move some production to the US, many will not be able to add the expense of building new facilities and training new, domestic employees. And even if they can, these additional costs are going to passed along to the consumer, who ends up paying more regardless. Here's what happened the last time Trump issued tariffs. The middle class didn't win as prices rose for the items that were tariffed faster than inflation.
Steel is used for pipelines and drilling rigs. Cost of doing business for the oil industry just went up. The oil-and-gas industry uncorked the champagne after Donald Trump won the election. Now, it’s debating whether the glass is half full or half empty. Some companies are asking the administration not to lay off key personnel who deliver permits at federal agencies, including the Interior Department, which has already fired hundreds of workers. President Trump’s steel tariffs are set to raise drilling expenses for shale companies. And perhaps most important, oil bosses have to contend with the administration’s focus on lowering crude prices to industry-busting levels. The Organization of the Petroleum Exporting Countries, which Trump asked to pump more oil, announced earlier this month that it would start increasing production. U.S. crude prices have fallen about 6% in the past month to around $68 a barrel. Companies would likely slow drilling if prices were to fall below $60. Trump’s whirlwind policy moves have elicited some head-scratching among business leaders. They have been especially jarring for the oil-and-gas industry, which gave tens of millions of dollars to Trump’s 2024 campaign as he pledged to make fossil fuels a centerpiece of his agenda. Oil billionaires encouraged him to dismantle environmental rules and help them build new pipelines. https://www.wsj.com/business/energy...office-e23a4fc8?mod=Searchresults_pos3&page=1
My intelligence is obviously a few levels above yours, son. America was already making some of its own things. Instead of allowing businesses decide what things they can make domestically, and what should be left for others to import, Trump is putting his thumb on the scale and persuading all manufacturers to make all things in the U.S. That makes U.S. manufacturers lazy, which leads to more expensive and lower-quality products. The only compensation that the middle class will get from tariffs is another step towards poverty. This makes the billionaires (the business owners and CEO's) wealthier and everyone else poorer. I won't have any temper tantrums over Trump's idiocy. I have enough to buy whatever I feel I need, and I know that in four years, someone a lot smarter than Trump will start repairing what's left of the U.S. economy. Whether that's a republican or a democrat, I don't care. Once Trump is out of office, he can go straight from the next president's inauguration to prison. You can continue your worship of him in his prison cell.
lol..clueless much more saving and there won't be anything left 'Disappointing and devastating': Steel manufacturer fires workers and blames Trump tariffs One steel manufacturer in the Midwest has announced it will be laying off hundreds of workers as a result of President Donald Trump's tariffs. The Minneapolis Star-Tribune reported Thursday that 630 steelworkers in Minnesota are about to lose their jobs. Steel manufacturer Cleveland-Cliffs, which is based in Ohio, announced that the layoffs will be at the company's operations in the Minnesota towns of Hibbing and Virginia. Those facilities specialize in steel pellets used in auto manufacturing, and Cleveland-Cliffs said they will be subjected to "temporary idles" in order to "rebalance working capital needs and consume excess pellet inventory produced in 2024."
I can answer that. Just had a 45 acre deal that was mixed between commercial and 320 unit apartment complex go cold due to uncertainty on steel prices. mid permitting and pulled the plug
US steel producer shuts two plants because demand is softening from the auto industry. The workers might be out of a job, but shareholders will get more money from the higher prices (and get to cut expenses by shutting down the plants and laying off the workers). Cleveland-Cliffs ($CLF) to Idle Two Plants as Auto Industry Battles Tariffs - TipRanks.com
WSJ says Trump must be sued to stop his whimsical actions Guess trump doesn't care about Murdoch opinion anymore now that he has his new bff elon ‘Presidential Whim’: WSJ Calls for Legal Action Against Trump The Wall Street Journal has called for legal action to block President Donald Trump’s tariffs on Canada and Mexico, arguing they require Congressional approval. The editorial board criticized the tariffs as overreach under the 1977 International Emergency Economic Powers Act (IEEPA). The EU and Canada have both responded with retaliatory tariffs targeting U.S. exports, including bourbon and motorcycles. The Wall Street Journal editorial board wrote, “He’s treating the North American economy as a personal plaything, as markets gyrate with each presidential whim.” They added, “It’s doubtful Mr. Trump even has the power to impose these tariffs, and we hope his afflatus gets a legal challenge.”
the left is playing the this will drive up costs card Trump feels this will bring prices down card we shall see over time who is correct
Can anyone cite an instance where tariffs succeeded in lowering prices? Ever? Because last time, under Trump, his tariffs caused prices to rise.
