So, is he saying that companies will just continue to use foreign steel because the tariff is no big deal? I thought the whole point was to encourage the use of American steel?
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He’s saying (correctly) that they’ll pass on costs of higher input prices to consumers, and then saying (incorrectly) that everyone should be fine with it.
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Yes, but by making that argument, isn't he effectively admitting the tariff won't actually help US steel makers? Because in theory, there would be no price increases if companies started using (now) cheaper American steel...right?
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It’s the opposite. If he’s right that demand won’t be affected (he’s not, but if he is) then can makers and carmakers and others will buy as much steel/aluminum, but more will be American since foreign metal will be pricier than it is now.
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Ahh ok, I see now. I was thinking in terms of 100% of materials coming from one source or another. Ugh, I knew tariffs were bad because they rarely work, but I don't think I realized they're bad *even when they work as planned.*
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The difference is $175, not $700.
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Oh, you're totally right. 25% of $700. I read too quickly. Still don't think the line for crumbs is between $175 and $1000. But I should've been more careful and gotten the numbers right. Thanks for pointing it out.
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@CommerceGov Adding tariffs is easy compared to negotiating trade deals. Trump is too insecure to negotiate so he takes the easy/lazy way. The losers in a trade war are consumers who will pay more for products made of steel/aluminum.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Over 9 years with no Costco membership due to that 700.00 price increase on the steel I'm the car I have to buy.
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Great observation.
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To him no big deal. Us paying for this is a big deal.
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He’s sidestepping the whole “the cost of steel is gonna got up because tariffs” thing by attempting to minimize it. I call it a fail.
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He of the embroidered slippers hasn’t a clue...
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