Sfdebris.net

http://money.cnn.com/2018/03/03/news/ec ... index.html

So yeah, 45 is putting heavy tariffs on steel and aluminum imports. What do ya'll thiink? I'll try to keep an open mind because I know diddly squat about international metal trade.

"It will protect domestic steel and aluminum manufacturers" that is assuming there are any domestic manufacturers left. Last time i checked we weren't exactly leading the world in steel and aluminum.

Strategically, I expect having some domestic steel and aluminum production is worth protecting. Economically, if it can be produced cheaper elsewhere and imported we're better off doing something else or working out an even cheaper way. The tariff proposes to protect domestic production and jobs but this is at a cost of higher material cost and a disincentive to innovation for domestic suppliers. Which is best? YMMV.

US Steel production clocks in at 4th globally and US aluminum production clocks in at 9th globally. I don't think they're in too much trouble... If anything, it's more about making a statement to China.

Yep. I predict Ikea prices to go up as a result of those little Allen wrenches increase in price as a result of this tariff. Also, beer and soda prices.

It also informs why he plans to put tariffs on European cars. The Europeans won't be hampered by American tariffs on metals, thus could be able to sell cars cheaper.

On a related note...

https://www.usatoday.com/story/money/bu ... 394409002/

This might help domestic steel & aluminum manufacturing, but it's going to play havoc with domestic everything else manufacturing

Okay, so does Wilbur Ross's can of soup speech make any sense?

When the economy is doing fairly well, as it is now, the normal thing to do is fight inflation, not create it.