The first layoffs from Trump’s tariffs are here

[The Barbarian]

The first casualties of President Trump’s trade war are 60 workers at Mid-Continent Nail, America’s largest nail manufacturer. They lost their jobs on June 15 at a factory in a part of Missouri that voted overwhelmingly for Trump. The whole company could be out of business by Labor Day.
...
Mid-Continent Nail blames the layoffs on Trump’s tariffs, and the company says all 500 employees could lose their jobs by Labor Day. The next round of cuts could come in a matter of days.

The trouble for the company started at the end of May when Trump put a hefty 25 percent tariff on steel imports from Mexico and Canada. Mid-Continent had been importing steel from Mexico that American workers would then turn into nails.

After the tariff, the company was forced to hike its prices, and customers fled. Orders are a mere 30 percent of what they were a year ago, said George Skarich, the vice president of sales. He suspects many customers are now buying Chinese nails.

“There’s a lot of uncertainty and a ton of fear in Poplar Bluff,” home to Mid-Continent, Skarich said. He voted for Trump and says he’s “disappointed” and “sad” at what's happening to a town and a company he loves.
https://www.washingtonpost.com/news...umps-tariffs-are-here/?utm_term=.252ec0db4182

 

[Rusha]

“There’s a lot of uncertainty and a ton of fear in Poplar Bluff,” home to Mid-Continent, Skarich said. He voted for Trump and says he’s “disappointed” and “sad” at what's happening to a town and a company he loves.

It's not like these people were not warned. I just can't muster up much sympathy for people who contributed to the catastrophe that our once great country has become.

 

[The Barbarian]

It's not like these people were not warned. I just can't muster up much sympathy for people who contributed to the catastrophe that our once great country has become.

I heard a lot of "what could be worse than Hillary Clinton?" Now they know.

 

[Danoh]

Trump's entire adult life has been one of financial and political corruption for personal gain - no matter how many Americans he'd hurt in the process.

That, when not in pursuit of one of his endless personal vendettas, given his notorious thin-skin.

I won't be surprised when it turns out his Tariifs have been nothing more than one more example of his pursuit of those two compulsions.

The man is a proven low-life.

 

[ok doser]

and he's still better than hillary! :banana:

 

[Jonahdog]

and he's still better than hillary! :banana:

Why?

 

[ok doser]

Prolly his best attribute is his superhuman abilty to send the retarded left into frenzies of outrage and indignation with only 240 characters

Outstanding!

 

[ok doser]

For example - the retarded 30 year old who snatched the MAGA hat off the 16 year olds head and threw a cup of soda in his face has been charged with a felony

Hilarious!

 

[The Barbarian]

Chinese Tariffs Hit Trump Counties Harder
Beijing’s retaliation would be felt by U.S. soybean farmers, auto makers and oil producers
The fallout from President Donald Trump’s tariffs and China’s countertariffs—which formally went into effect on Friday—will have the greatest impact on the U.S. counties that voted Mr. Trump into office.
https://www.wsj.com/articles/chinese-tariffs-hit-trump-counties-harder-1530869400

Most of the pain will be in Trump country, but no one should gloat; this will hurt Americans everywhere.

'Trade wars are good, and easy to win'
Donald Trump

That's what he said about health care reform. At first.

 

[MennoSota]

Anyone remember when Thomas Jefferson started a tariff war...

 

[ok doser]

Anyone remember when Thomas Jefferson started a tariff war...

pretty sure that was before my time... :noid:

 

[MennoSota]

pretty sure that was before my time... :noid:

For all the applause we give to Jefferson for drafting the Constitution, Jefferson's foreign policy as a President was horrific. His attempt to make Britain pay for stealing sailors off ships and enlisting them into the British navy by placing high tariffs on British goods ended up in an economic free fall in the United States. Ship building companies and those who shipped to England ended up laying off workers and going bankrupt. The fledgling economy almost broke. Jefferson was forced to end the tariffs.
Trump is playing a game of "chicken" with the Chinese (who have artificially kept the yuan below its market rate) in the attempt to balance out the trade deficit we have with them. It is likely that we lose this game. On the flip side, China and the rest of the world will suffer as they go without grain that the US supplies.

 

[Catholic Crusader]

This thread is more nonsense propaganda and stupidity, par for the course. The tariffs have been against US for decades. Trump is the first president with the nerve to even the playing field. There are always bumps along such a road.

Barbarian would be the man who blames a woman for finally hitting her husband back after he has been hitting her for 40 years. How pathetic.

Trump has unemployment down to all time lows, and this thread is whining and sniveling about a couple of exceptions to the rule. Go get a life man

 

[Catholic Crusader]

US adds a solid 213,000 jobs; unemployment up to 4 pct.
ABC News
https://abcnews.go.com/Business/wireStory/us-added-213000-jobs-june-unemployment-rose-pct-56404005

U.S. employers kept up a brisk hiring pace in June by adding 213,000 jobs, a sign of confidence in the economy despite the start of a potentially punishing trade war with China.

The job growth wasn't enough to keep the unemployment rate from rising from 3.8 percent to 4 percent, the government said Friday. But the jobless rate rose for an encouraging reason: More people felt it was a good time to begin looking for a job, though not all of them immediately found one.

 

[The Barbarian]

As you know, the 8 year decline in unemployment leveled off last year at about 4%. Unless Trump caves on his trade war plans, it's going up.

We have a large trade surplus with Canada, and Trump wants a war with them. Brilliant, um?

Trump's own trade representative admits:
U.S. goods and services trade with Canada totaled an estimated $673.9 billion in 2017. Exports were $341.2 billion; imports were $332.8 billion. The U.S. goods and services trade surplus with Canada was $8.4 billion in 2017.
https://ustr.gov/countries-regions/americas/canada

 

[Catholic Crusader]

Unemployment rate matches lowest point in half a century
by Nathaniel Meyersohn @CNNMoney
June 1, 2018: 12:53 PM ET
http://money.cnn.com/2018/06/01/news/economy/may-jobs-report/index.html

The jobless rate ticked down to 3.8% in May, another sign of the strong economy and tight labor market.

That tied the lowest unemployment rate since 1969. Since then, the only other time unemployment was this low was in April 2000.

"It fell for all the right reasons. We had more people coming into the labor market. We saw employers digging deeper into the pool of unemployed," said Josh Wright, chief economist at the software firm iCIMS.

The jobs report painted a picture of an economy with opportunities for almost everyone. Black unemployment fell to a record low, and the gap between black and white unemployment shrank to the narrowest ever measured.

Job openings are at a record high, and businesses are hungry for workers. That has helped underrepresented Americans find jobs.

The unemployment rate among African-Americans and Asian-Americans has been steadily declining. It has also dropped among low-education workers and even teenagers. Over the past year, the unemployment rate among 16- to 19-year-olds has fallen from 14.1% to 12.8%.

Related: Black unemployment rate hits a record low

Economists believe that the unemployment rate can dip even further because there's still slack in the job market.

The employed percentage of America's population stands at 60.4%, still well below pre-recession levels.

Despite questions about employers' ability to find qualified workers, the economy added 223,000 jobs in May, better than economists predicted.

Job gains were broad. The retail, health care and construction sectors added the most positions. The economy has added 207,000 jobs a month this year on average, a faster pace than last year.

"The US economy has this incredible head of steam," Wright said......(SNIP)

 

[The Barbarian]

Trump's Tariffs Have Led to Layoffs at U.S. Manufacturers


Despite his promising to be “the greatest jobs producer that God ever created” after winning the presidency, Trump’s recent slew of overseas tariffs has led to an increasing number of job losses at home.

America’s largest nail manufacturer, Mid-Continent Nail, became the first company to lay off employees as a result of Trump’s tariffs in mid-June. The Missouri-based company made its nails with steel imported from Mexico, but Trump’s 25% tax on steel dealt a blow to production. Sixty employees lost their jobs, and the whole company—which employs 500—could be out of business by Labor Day, said the Washington Post.

REC Silicon, which produces polysilicon for solar equipment, laid off 100 employees Monday as a “direct result of the ongoing solar trade dispute between China and the United States,” said company officials. The manufacturer has been closed off to the Chinese market since 2014, affecting overall sales. The Washington state-based company has reduced production to about a quarter of capacity due to these trade disputes.

Industry coalitions have warned that tariff increases will cause job losses in the future. The Solar Energy Industries Association estimated that new tariffs imposed by the Trump administration will lead to the loss of 23,000 jobs in the U.S. solar sector. BMW and General Motors each sent letters to the Commerce Department warning that new tariffs could lead to higher car prices and job cuts at production plants. Volvo had promised to hire 4,000 new employees for a new plant in South Carolina, but has said it may have to break this promise as a result of new tariffs.

Harley-Davidson announced it would be moving some of its U.S. production elsewhere after retaliatory tariffs from the European Union raised U.S. motorcycle tariffs from 6% to 31%, adding nearly $2,200 to the average cost of one of its bikes. The company has not said how many jobs will be affected by this move.

U.S. Steel and Century Aluminum have announced it will hire new workers as a result of Trump’s tariffs, creating a combined 800 jobs, but this number is dwarfed by the number that could be lost in the coming months.

While the White House has argued that these tariffs will bring jobs back to the U.S., the U.S. Chamber of Commerce argues in a new campaign that 2.6 million American jobs could be lost as a result of “recent and proposed trade actions by the Trump administration.”
http://fortune.com/2018/07/05/trump-tariffs-us-layoffs/

 

[Catholic Crusader]

Despite his promising to be “the greatest jobs producer that God ever created”.......

Trump IS the the greatest jobs producer ever. You ignore the millions of new jobs and focus on a handful of losses. That makes you a liar and a fraud, something we all already knew anyway.

 

[The Barbarian]

Trump IS the the greatest jobs producer ever.

Odd then, that the dramatic drop in unemployment during the Obama years flattened out on Trump's watch. Now the U.S. Chamber of Commerce is projecting huge job losses ahead.

You ignore the millions of new jobs and focus on a handful of losses. That makes you a liar and a fraud

I'm just showing you the facts. And the projection is by the United States Chamber of Commerce. They tend to support republicans. If you think they are liars and fraud, you're back into your fantasy world, something we all already knew anyway.

 

[The Barbarian]

A study by the Brookings Institute showed that about two million jobs might be at risk as a result of the new tariffs. It is unlikely that all of these positions will be lost, but assuming that one in four of these jobs were to result in layoffs that would leave us with 500,000 jobs eliminated. The tariffs on steel alone were projected to result in 146,000 job losses. The average income in the U.S. was $59,000 last year. Applying this figure to the 646,000 jobless people would yield a total loss of $38 billion. And that would be a direct result of the tariffs. Estimating the indirect losses and job cuts stemming from lost income at the same rate of 25%, the losses would then amount to $47.6 billion. Granted, these are back-of-the-envelope calculations based on some given assumptions. The numbers could be lower or higher. But it's clear that much damage could be done by the tariffs and ongoing trade war.
https://www.forbes.com/sites/sarahs...hat-will-be-the-cost-to-america/#5376bfdd4cbb