US Erection 12 *AND* 16 *AND* 20 *AND* 22 *AND* 24

[2Fingers]

Hope none of you are in the steel business.

Yep - greatest president ever.

Who is it bad for reef? Not American steel companies...

Remember reef he is not your president he does what he does for his country not the other countries.

The perfect - he can impose tariffs on everything coming into his country and that will allow every other country to impose tariffs on items coming from the USA. You do know that this will just increase and it will have a negative impact on Canada as the USA is our largest trading partner. This is not just about steel and aluminum.

Canada just retaliated with a $16.6B counter measure, soon to be followed by Europe and Mexico. The Trumps penis will get smaller and he will then go to the next level and so on and so on.

His plan on bringing in some counter measures is a good idea, his method of implementing is not. There has to be a balanced approach.

[2Fingers]

So higher prices coming for American manufacturers, and in turn consumers.

And of course, an increase in tariffs on US exports, so yes - US steel companies will benefit, but there will likely be more harm than good to the overall economy.

Trump doesnt care, he wants to make headlines and that is all.

He sounds a lot like a certain premier in BC.

[Per]

So, Trump is definitely crazy.

I mean, there has been a thorough analysis made of the effect of Dubya's steel tariffs, and it was very costly for the USA, both in damage to GDP and in lost jobs. Can't see why anyone with half a brain would do the same thing again.

As I posted earlier, the EU has prepared counter measures that have been chosen to mainly hurt states that voted for Trump in 2016. These will now go into effect,

A hilarious statement by Trump is that he does not want to negotiate with the EU, but with each separate country. Yeah right. I suppose the EU response should be to not negotiate with Washington, but with each individual state.....

The saddest thing though is not the immense economic damage these measures will cause on both sides of the Atlantic, but the growing conviction in Europe that the USA is no longer an ally. Both Metckel and Macron have stated that Europe must start to realize that the US is no longer a partner.

The same became obvious when Trump withdrew from the Iran deal. That deal is not a bilateral agreement, but signed by several nations, including France, Germany and the United Kingdom. These countries have stated that they intend to honour the agreement they have signed, as long as Iran upholds its part of the deal. The honorable thing to do, Pacta sunt servandum.
Now, what happens is that the USA threatens to punish European companies that trade with Iran. These companies then get in the awkward position that they are encouraged by their governments to fulfill contracts that have been signed, but threatened by the US government if they do so. Imho what the US is doing here must be considered criminal meddling in the affairs of other nations.

A similar thing happened before, when the US congress passed a law that stated that companies that did business with Cuba could have their assets in the USA seized. The EU then answered by passing a law that made it illegalfor European countries to obey the US law, and that any Europeancountry that had assets seized in the USA would be compensated by receiving corresponding assets seized from US companies in Europe. This swift move ensured that no US president has signed the law, so it has never taken effect. I assume the EU will attempt to prepare similar counter measuresif the US really starts harassing Europeancompanies for doing business with Iran.

Oh, well. I guess this is the beginning of the end of Trump's presidency. The trade war that he is starting will strike against the heartland of the USA, and pretty soon the voters will start to realize that they'd be better off without him.

[Topper]

So higher prices coming for American manufacturers, and in turn consumers.

And of course, an increase in tariffs on US exports, so yes - US steel companies will benefit, but there will likely be more harm than good to the overall economy.

Especially when steel and aluminum production in the US was gutted over 30 years ago with the death of the rust belt. There isn't the capacity in the domestic supply to insulated manufacturers and consumers of steel and aluminum.

This is pressure added to the NAFTA negotiations. Screw turning.

[2Fingers]

So higher prices coming for American manufacturers, and in turn consumers.

And of course, an increase in tariffs on US exports, so yes - US steel companies will benefit, but there will likely be more harm than good to the overall economy.

Especially when steel and aluminum production in the US was gutted over 30 years ago with the death of the rust belt. There isn't the capacity in the domestic supply to insulated manufacturers and consumers of steel and aluminum.

This is pressure added to the NAFTA negotiations. Screw turning.

Agree on this part Top, but trump scares me enough to have him want this permanently. Also what will his followers think once it changes again.

[Per]

Hope none of you are in the steel business.

Yep - greatest president ever.

Who is it bad for reef? Not American steel companies...

No, but for eg American consumers, builders and car manufacturers as they will have to pay more for inferior products.
And for American farmers and export companies as the EU, Canada and Mexico impose countermeasures.

Basically it is bad for everyone, except initially for a handful of US steel and aluminium producers. Yet in the long run they also lose out as the buying power of their customers erodes, and typically protected industries over time grow less competitive, see eg the Soviet Union, so when the tide turns and they face free trade and competition on equal terms again, they have grown complacent and lazy and tend to fail.

[Strangelove]

This is pressure added to the NAFTA negotiations. Screw turning.

THIS

So, Trump is definitely crazy.

Crazy like a fox...

[Strangelove]

Hope none of you are in the steel business.

Yep - greatest president ever.

Who is it bad for reef? Not American steel companies...

Remember reef he is not your president he does what he does for his country not the other countries.

The perfect - he can impose tariffs on everything coming into his country and that will allow every other country to impose tariffs on items coming from the USA. You do know that this will just increase and it will have a negative impact on Canada as the USA is our largest trading partner. This is not just about steel and aluminum.

He can't hear you Ratski...

[Per]

Here's what happened the last time the US was dumb enough to try a steel tariff

http://nordic.businessinsider.com/bush- ... ?r=US&IR=T

There are no winners in a trade war. Every one loses.
And especially the consumer.

[2Fingers]

Hope none of you are in the steel business.

Yep - greatest president ever.

Who is it bad for reef? Not American steel companies...

Remember reef he is not your president he does what he does for his country not the other countries.

The perfect - he can impose tariffs on everything coming into his country and that will allow every other country to impose tariffs on items coming from the USA. You do know that this will just increase and it will have a negative impact on Canada as the USA is our largest trading partner. This is not just about steel and aluminum.

He can't hear you Ratski...

I’m not sure if you intentionally are being silly or your reading comprehension is that bad. I think you have selective reading syndrome.

[Strangelove]

MAGA not MCGA

"Yep - greatest president ever."

[ukcanuck]

At what point does the rest of the free world give trump the swinging middle finger in the air and start excluding Americans from trade deals?

I mean if the US is slapping tariffs on everyone else who are in the same businesses, why not a Canada/ Mexico/ EU deal on steel and aluminum in a combined retaliation?

Seems logical to me that if trump keeps pushing away trade partners, he is also pushing those same trade partners together?

[2Fingers]

At what point does the rest of the free world give trump the swinging middle finger in the air and start excluding Americans from trade deals?

I mean if the US is slapping tariffs on everyone else who are in the same businesses, why not a Canada/ Mexico/ EU deal on steel and aluminum in a combined retaliation?

Seems logical to me that if trump keeps pushing away trade partners, he is also pushing those same trade partners together?

Trump wouldn’t understand, too many words and it doesn’t fit on Twitter.

[Per]

So higher prices coming for American manufacturers, and in turn consumers.

And of course, an increase in tariffs on US exports, so yes - US steel companies will benefit, but there will likely be more harm than good to the overall economy.

Especially when steel and aluminum production in the US was gutted over 30 years ago with the death of the rust belt. There isn't the capacity in the domestic supply to insulated manufacturers and consumers of steel and aluminum.

This is pressure added to the NAFTA negotiations. Screw turning.

If it is all about Nafta, why include China and the EU?

And the tactics are too simplistic. And also, they force the opponents to impose countermeasures, as that is the only way to stay in the game, which means that the USA will get hurt at least as bad as they attempt to hurt the others.

The game of chicken predicts that as the opponent becomes more aggressive, retaliation is the only way to stay in the game – and all the more so as the opponent becomes more aggressive. Indeed, by being more aggressive itself, the EU gets either 1 (10 out of 22) or 2 (10 out of 22). Most of the time therefore, (20 out of 22) the EU gets a good outcome.

This implies that as the US threatens to impose sanctions, the EU must effectively match the threat with actions! And this is true irrespective of whether the US actually has less to lose (in fact, the rhetoric will have us believe that this number (-1) should even be positive – not negative all all), or if it is just bluffing. It is the only way for the EU to avoid ending up in the position of having 0 all the time, as the US claims 2, and instead occasionally claiming the 2 for itself. In the process, however, free trade is in very real danger of collapsing.

This is actually why the rhetoric that is coming out of Washington is not just an act of protectionism that distorts bilateral trade; it is a threat to the world multilateral system, as it induces retaliatory aggression.

And this is why the EU has important reservations: it wants to act as a defender of the multilateral system. To this end, it is adopting an attitude of appeasement, containment and negotiation. And it is a reasonable (in the first instance, at least) reaction, to a game that effectively should never be played. But here we are, forced into an aggressive game of chicken, in which the effort to appease also amounts to admitting defeat.

So, what should be the EU’s reaction?

First, be prepared to act. Adopting measures that can impact the US economic interests in Europe need to be prepared, and in place to be used.

http://bruegel.org/2018/05/the-eu-shoul ... -on-trade/

[Per]

At what point does the rest of the free world give trump the swinging middle finger in the air and start excluding Americans from trade deals?

I mean if the US is slapping tariffs on everyone else who are in the same businesses, why not a Canada/ Mexico/ EU deal on steel and aluminum in a combined retaliation?

Seems logical to me that if trump keeps pushing away trade partners, he is also pushing those same trade partners together?

Yup. There are voices declaring that as the US is becoming increasingly unreliable as a partner; not living up to its commitments, withdrawing from signed treaties, etc, the EU should instead try to increase trade and cooperation with China.

And we already did sign a free trade agreement with Canada.
https://en.wikipedia.org/wiki/Comprehen ... _Agreement