Drudge Retort: The Other Side of the News
Thursday, March 08, 2018

President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum on Thursday but exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries. Describing the dumping of steel and aluminum in the United States as "an assault on our country," Trump told a news conference that the best outcome would for companies to move here and insisted that domestic production was needed for national security reasons.

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i've contended since i first heard of tariffs that we should just let the other country set the tariffs on our goods and we'd adjust our policy in kind. but then again i was about 25 when i came up with that because obviously i didn't know what i was talking about.
damn near 50 years later trump marches it out as part of his new trade policy..calls it Mirror Tariffs. i guess i was just so damn dumb back then that i didn't realize what an economics genius i really was LOL

#1 | Posted by ABlock at 2018-03-08 04:51 PM | Reply

Let the Trade Wars begin.

#2 | Posted by Sycophant at 2018-03-08 05:06 PM | Reply

so the 110,000 steel workers will keep their jobs but the 1.3 million workers for companies that make stuff out of aluminum and steel may lose theirs and consumer prices will rise on all products that use aluminum or steel.

Winning!
MAGA!

#3 | Posted by hatter5183 at 2018-03-08 05:36 PM | Reply | Newsworthy 1

I really would prefer to buy Mexican made steel over Chinese.

#4 | Posted by Tor at 2018-03-08 05:37 PM | Reply

Not like we haven't tried this before and watched it fail miserably.

#5 | Posted by Sycophant at 2018-03-08 05:38 PM | Reply

of course there is this

www.msn.com

WASHINGTON, March 8 (Reuters) - U.S. Republican Senator Jeff Flake said on Thursday he would introduce a bill to nullify President Donald Trump's aluminum and steel tariffs, which Trump finalized in a proclamation earlier in the day.

#6 | Posted by truthhurts at 2018-03-08 05:50 PM | Reply

The steel companies tell every president they have to do this. Trump is the first one dumb enough to believe them. They're real american macho men in suits talking about steel - it probably was almost enough for trump to finally achieve an --------.

#7 | Posted by SpeakSoftly at 2018-03-08 06:11 PM | Reply | Funny: 1

But Canada and Mexico get a pass.

So what is it, US steel jobs are important, or Canadians can take those jobs?
Is US steel going to bounce back because 3% are no longer being imported from China?

These tariffs are simply pandering to trade morons.

They might work as NAFTA threats, but only if the US gets something for the steel jobs it gives back.
So which is it, are US steel jobs important or is NAFTA renegotiation important. I doubt the US will get both.

Trump and the GOP are just flailing and arm flapping for the benefit of trade morons, without a coherent plan on how to create good jobs in the USA.

#8 | Posted by bored at 2018-03-08 06:13 PM | Reply

Good. Let the Davos globalists wail.

#9 | Posted by SheepleSchism at 2018-03-08 06:13 PM | Reply | Newsworthy 1

I can't wait to hear how any market downturns and unemployment upticks are Obama's fault.

#10 | Posted by jpw at 2018-03-08 06:17 PM | Reply | Funny: 1 | Newsworthy 1

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How about put tariffs on designer crap imported from China. Oh wait that is how the Dotard loves to replace American workers with foreigners, can't have that.

But go ahead dotard holsters explain how US manufacturing jobs aren't as important as a few steel jobs and out sourcing to China.

#11 | Posted by bored at 2018-03-08 06:33 PM | Reply

Wait'll rwingers have to pay more for beer because of can costs, lol.

That may be one step too far!

#12 | Posted by Corky at 2018-03-08 06:49 PM | Reply

Too funny, if Obama had done this you guys would be fawning over how this would be good for the country...and I would agree with you under these limited circumstances.

The EU already imposes tariffs on US goods, and vice versa:

Sample US tariffs on EU goods:

a light trucks tariff of 25 percent;
a tariff on wool sweaters of 16 percent;
a tariff on sardines of 20 percent;
a tariff on tuna of 35 percent;
and a tariff on leather at 20 percent

Sample EU tariffs on US goods:

a tariff on honey of 17.3 percent;
carrots at 13.6 percent;
potatoes at 14.4 percent;
strawberries at 20.8 percent;
lemons at 12.8 percent,
beef at 12 percent;
and lamb at 12 percent.

Guess who collected more tariffs?

The EU collected $17.4B in 2015, the US collected $4.2B.

Trump says other countries can apply for an exemption, my guess is that will be tied to reduced tariffs on US goods.

#13 | Posted by Rightocenter at 2018-03-08 06:55 PM | Reply | Newsworthy 1

Good. Let the Davos globalists wail.

#9 | POSTED BY SHEEPLESCHISM

Anti-globalism = anti-United States.

Why do you hate my country, sheep?

#14 | Posted by IndianaJones at 2018-03-08 06:59 PM | Reply

...and Republicans weight in on Trump's tariffs.

www.google.com

This should interesting watching play out.

Orrin Hatch, also criticized the tariffs but said he would work with the White House to "mitigate the damage."

www.aol.com

#15 | Posted by memyselfini at 2018-03-08 07:05 PM | Reply

So, when are US steelmakers going to bring their manufacturing technology up to date?

#16 | Posted by bayviking at 2018-03-08 07:06 PM | Reply | Newsworthy 2

This is great news for all of us who work in the steel industry.

Anyone?

Anyone?

#17 | Posted by rcade at 2018-03-08 07:06 PM | Reply | Funny: 1

#13 If Obama was stupid enough to repeat Bush's mistake with steel tariffs I would criticise him.
When are wing dings going to realize not all tariffs are the same?

Manufactured good tariffs may be a good idea, but the Dotard didn't do that, he taxed manufacture inputs because the CEOs of bloated in-efficient steel manufacturers whined to him, and steel jobs sound like a good idea to trade morons.

Copy Europe, use tariffs to protect lots of US jobs, not symbolic protection of a few steel jobs at the expense of many US manufacturing jobs.

Europe also protects small farmers with tariffs. That makes sense from a lifestyle, land use and strategic food source perspective.
Why nothing from Trump?
No wonder the only cabinet minister he had left with a clue just quit.

#18 | Posted by bored at 2018-03-08 07:07 PM | Reply | Newsworthy 1

Meanwhile, back at the TPP, 11 nations sign a deal that includes, "In brief, the deal removes more than 98 percent of tariffs for a bloc consisting of Canada, Mexico, New Zealand, Malaysia, Vietnam, Singapore, Brunei and Peru.".

www.npr.org

#19 | Posted by Corky at 2018-03-08 07:16 PM | Reply | Newsworthy 1

But but those countries hate worker jobs and their industries.
America alone!

#20 | Posted by bored at 2018-03-08 07:24 PM | Reply

"Homer, why did you bring me to a gay steel mill?"

#21 | Posted by snoofy at 2018-03-08 07:27 PM | Reply

Republican Senator Flake vows bill to undo tariffs

www.msn.com

#22 | Posted by Gal_Tuesday at 2018-03-08 07:39 PM | Reply

Why do you hate my country, sheep?

Globalists stole his girlfriend and rocked her world.

#23 | Posted by rcade at 2018-03-08 07:43 PM | Reply | Funny: 2

Gee, if only we had tried this before and knew what would happen...

www.history.com
en.wikipedia.org

Well, my goodness, we did, and the economic results were...how you say...not very good.

#24 | Posted by e1g1 at 2018-03-08 07:45 PM | Reply

I coulda swore steel tariff was advertised at 30%...
Guess it's already being "adjusted"...

The funniest thing about this steel tariff is how it picks big old steel mills as winners, and newer mini-mills as losers.

He can't even protect the industry without splitting them into adversaries.

#25 | Posted by snoofy at 2018-03-08 07:55 PM | Reply

Trump says other countries can apply for an exemption, my guess is that will be tied to reduced tariffs on US goods.

#13 | POSTED BY RIGHTOCENTER AT 2018-03-08 06:55 PM

That's exactly what it will be. This is how he forces trade negotiations on other nations. Honestly, I don't know the end result of this (probably not a1960s resurgence of US Steel, but not another depression).

How we look back at this is 25 to 50 years will have a lot to do with if we see this administration as a success or failure.

It's a bold move, now history will judge.

#26 | Posted by GeorgeJefferson at 2018-03-08 07:56 PM | Reply

I can't wait to hear how any market downturns and unemployment upticks are Obama's fault.

#10 | POSTED BY JPW AT 2018-03-08 06:17 PM

Well, they were Bush's fault from 2009 to January 2017, so when is Obama's turn?

#27 | Posted by GeorgeJefferson at 2018-03-08 07:59 PM | Reply

There were market downturns after the Great Recession???

I musta missed that. I'll ask mom to upgrade the cable TV in the basement to include Bloomberg.

#28 | Posted by snoofy at 2018-03-08 08:02 PM | Reply

That's exactly what it will be. This is how he forces trade negotiations on other nations. Honestly, I don't know the end result of this (probably not a1960s resurgence of US Steel, but not another depression).
How we look back at this is 25 to 50 years will have a lot to do with if we see this administration as a success or failure.
It's a bold move, now history will judge.
#26 | Posted by GeorgeJefferson

Since Trump is the Fecal Midas, I predict ---- will come from this.

#29 | Posted by truthhurts at 2018-03-08 08:02 PM | Reply

There were market downturns after the Great Recession???

Yeah, and missed unemployment projections (GDP too!). It happens. But we were always told, "those are great numbers when you consider what bush did."

Every time.

#30 | Posted by GeorgeJefferson at 2018-03-08 08:05 PM | Reply

"But we were always told, "those are great numbers when you consider what bush did."

Was that not a fair statement?

Also, I heard it as: those are great numbers considering economists pretty much universally said the stimulus should have been a lot bigger.

#31 | Posted by snoofy at 2018-03-08 08:10 PM | Reply

As a long time psych nurse, I find it amazingly interesting how the DEMs and to a lesser degree the GOP has swapped positions on something like this.

The left is so hypocritical that it's easy to see how their positions would have changed if it had been an Obama proposal.

Just a few years ago, the left was chanting "Fair trade not free trade" Then Obama came out as a big supporter of TPP and they toned it down. Now that a GOP POTUS is proposing it, they are 100% against it.

I suspect in the November 2018 elections, Trump and the GOP will get a bigger percentage of the union vote than they did 2 years ago.

#32 | Posted by jamesgelliott at 2018-03-08 08:15 PM | Reply

Congressional Republicans threaten action over Trump's tariffs

"I don't think Republicans will put up with this, and I personally believe that we may be able to stop it in the Congress," Sen. Orrin Hatch, R-Utah, said.

www.nbcnews.com

#33 | Posted by Gal_Tuesday at 2018-03-08 08:20 PM | Reply

Just a few years ago, the left was chanting "Fair trade not free trade" Then Obama came out as a big supporter of TPP and they toned it down. Now that a GOP POTUS is proposing it, they are 100% against it.
I suspect in the November 2018 elections, Trump and the GOP will get a bigger percentage of the union vote than they did 2 years ago.

#32 | POSTED BY JAMESGELLIOTT

Rep Dick Gephardt (D-Mo) was the fiercest opponent of NAFTA. Hewas typical of the Democratic Party before 1992 (though there was a large anti NAFTA segment in the following years. Clinton passed NAFTA with GOP votes.

I would not be shocked if The GOP carries union households in 2018

#34 | Posted by GeorgeJefferson at 2018-03-08 08:25 PM | Reply

I supported tariffs when dems proposed it and I support it now. Saving American jobs should be priority one. I live in the heart of steel country so I hope this bring good jobs to my area.

#35 | Posted by byrdman at 2018-03-08 08:30 PM | Reply

Saving American jobs should be priority one.

At what cost? $1.5 million dollars to save a single job in the steel industry is justifiable?

#36 | Posted by rstybeach11 at 2018-03-08 08:31 PM | Reply

"Saving American jobs should be priority one."

I wouldn't expect a guy like Trump who's never had to work for a living to quite see it that way.

Do they still make golf clubs out of steel? He won't like the higher prices...

#37 | Posted by snoofy at 2018-03-08 08:36 PM | Reply

and now for something completely different - fake news from dying american smokestack steel industry...

www.ussteel.com

#38 | Posted by mutant at 2018-03-08 08:46 PM | Reply

#38 Blast from the past. I had a job one summer working at an ad agency in the Steel Bldg:

600 Grant Street, Room 1575
Pittsburgh, PA 15219-2800

Here's something I didn't know (European production):

U. S. Steel is an integrated steel producer with major production operations in North America and Central Europe. We manufacture a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, oil and gas industries.

www.ussteel.com

#39 | Posted by Gal_Tuesday at 2018-03-08 09:01 PM | Reply

-Why do you hate my country, sheep?

Globalists stole his girlfriend and rocked her world.

#23 | POSTED BY RCADE

Lamb Chop was kinda ------ anyway...

www.pinterest.com

#40 | Posted by Corky at 2018-03-08 09:59 PM | Reply

"I suspect in the November 2018 elections, Trump and the GOP will get a bigger percentage of the union vote than they did 2 years ago."

Sorry Democrats but I agree with JGE here and guess what, the Democrats should be punished for opposing protectionism. All these folks around here who are now singing the tune of Wall St. about saving jobs are ridiculous. Saving jobs at Walmart? At McDonalds? Then blaming the loss of such jobs on steel protectionism? Utter nonsense. Perhaps an auto maker's cost will increase a bit, not a huge amount though, but for smaller appliances, etc. the cost increase will be very minimal. The Wall St. crowd like importing cheap steel so they can pay low wages over seas, and the somehow convince American workers to buy their baloney. It's hilarious though self-defeating for the working class.

#41 | Posted by danni at 2018-03-09 08:11 AM | Reply

All I want to know is will it raise Aluminum can recycling payouts???

#42 | Posted by LauraMohr at 2018-03-09 08:14 AM | Reply

Why do people hate the concept of globalism?

My take is that they are the kinds of "job creators" whose businesses rely on imbalance to make a profit. If there is one global community you can't exploit differences in labor laws and environmental law to cut corners and pocket money at the expense of the disadvantaged communities that will end up paying the negative externalities. There are too many companies that are making it not by producing a better widget but rather by finding a loophole they can exploit to make producing the widgets cheaper with no regard to the damage being done

#43 | Posted by hatter5183 at 2018-03-09 09:39 AM | Reply

Sorry Democrats but I agree with JGE here and guess what, the Democrats should be punished for opposing protectionism.
#41 | POSTED BY DANNI

That's because you don't understand the economic effects. As I've said about ten times before, we've tried this before and it didn't work. It cost the US Jobs. It didn't really hurt foreign countries or change foreign worker protections.

All we've really done is create a trade war which will mean substantial job losses and economic value at home and potential recessions abroad.

#44 | Posted by Sycophant at 2018-03-09 11:37 AM | Reply

All we've really done is create a trade war which will mean substantial job losses and economic value at home and potential recessions abroad.

#44 | Posted by Sycophant

And it'll be the first trade war started because of an affair with a porn star.

#45 | Posted by SpeakSoftly at 2018-03-09 01:13 PM | Reply

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