Trump steel tariffs cost $900,000 for every job created

Good example of how government meddling hurts the economy.

Trump steel tariffs cost $900,000 for every job created, experts say

https://www.al.com/news/2019/05/tru...900000-for-every-job-created-experts-say.html
U.S. consumers and businesses are paying more than $900,000 a year for every job saved or created by Trump steel tariffs, according to calculations by experts at the Peterson Institute for International Economics. The cost is more than 13 times the typical salary of a steelworker, according to Labor Department data, and it is similar to other economists' estimates that Trump's tariffs on washing machines are costing consumers $815,000 per job created.

 

So? Were countries dumping steel or not? These aren't "Trump Steel tariffs". The laws have been in effect for years.

 

They are Trump tariffs and they cost cost $900,000 for every job created.

 

Nope. Perhaps TDS keeps you from realizing that these tariffs were implemented under laws existing prior to Trump as punishment for dumping steel. And if you really want to deep dive into it you would see that the punitive tariffs did not apply equally across the board. 1 Chinese company was deemed not to have been doing it and therefore were not subject to the penalty

 

• Trump has been defeated OP in case you didn't hear. What scares me now is who replaced him. You might want worry about what Biden's planning. You know like packing the Supreme Court.

 

Where were you when Mitch wouldn't seat Garland?

 

Mitch McConnell didn't seat Garland because he didn't want to. That's what happens when you have two mostly white run political parties trying see who can be the bigger idiots.

 

Tariffs on raw resources is and always was stupid. Tarrifs should only ever apply to the end product.

Costs in taxes?

Don't care. We need to do the same with several industries. We cannot rely on China.

 

I am guessing those numbers are inflated - but generally correct -and what jobs were created ? - a few factories moved to Viet-Nam and for the big tax breaks some corporations made plans they likely had on the books anyway look like grand gestures.

General Rule of thumb is that protectionism is bad - and this was no exception .. - but in a Trade war you know you are going to lose - both sides know this .. its who is willing to take the most punishment .. and you better have other Big nations in the pool as allies .. and this was the huge blunder ..

While having a trade-war with China - Carrot Top decides to declare economic war on the rest of the world - usurping their sovereignty "Their words .. not mine" - forcing them to abide by his unilateral Iran sanctions using the economic nuclear option - threatening to block banks/corps out of the international system of trade.

and by doing this we lost a lot more than the the dollars from the China Trade war .. our status as the sole reserve currency is under Siege - and I never thought this day would come so soon .. ..

 

We weren't buying steel from China.

 

And making DC a State.

 

What's that old saying about taxation without representation?

 

I'm betting DC citizens get far more from Uncle Sugar in outright grants than they pay in taxes. Unless they're talking about federal liquor taxes then I feel their pain.

 

Why is it set up like this?

 

It's what the American revolution was fought over.

 

DC, why is DC like that?

 

It's not a part of any state.
It's governed by congress.

 

Why? Why is it set up that way?

 

Washington, D.C., formally the District of Columbia and also known as D.C. or Washington, is the capital city of the United States. ... The U.S. Constitution provided for a federal district under the exclusive jurisdiction of U.S. Congress; the district is therefore not a part of any U.S. state.

 

what makes 9 a magic number?

 

Biden is burning up trillions of dollars and keeping his foot on the Chinese as did Trump.

 

Sounds good to me. Isn't Congress doing a good job for them?

 

Space for one thing. The Supreme Court has long been set up to handle 9 Justices there.

 

We've debated this in before in this forum, about 4 years ago.

I disagreed with the reasoning behind the claim, but I can't remember the specific reason why now.


A lot of these people at economic institutes are very anti-tariff, so that should be kept in mind. They're more trying to prove they are right about their ideology of tariffs being bad than trying to disparage Trump.


Tariffs may not be a bad way to collect additional tax revenue.
Tariffs don't stop people from trading or importing; they just put a tax on that trade (and only if that trade comes from a certain source).
Why is the Left so much in favor of more taxes everywhere else but not in favor of more taxes here?

 

I stand corrected. Mexico and Canada making steel for us, isn't a national security issue. South Korea could be a problem if transportation was blocked but that would be a small portion and not a problem for national security as a whole.

Steel should not be Tarrifed for economic reasons. Tarrifs should mostly apply to completed products and not the materials. IMO