The Official Trump Collapsing Thread

[Clocker]

Originally Posted by upthecreek

Trump has just delivered two brilliant political surprises

Make that three surprises, one not so brilliant.

Stocks are down on the news that Trump will impose new tariffs on imported steel and aluminum. The tariffs were announced after he met with U.S. steel and aluminum executives.

The tariffs will protect domestic producers from foreign competition, while passing the costs on to American consumers. The tariff will also very likely result in retaliatory tariffs on American exports, harming other American companies and their workers.

Current laws allow the President to unilaterally impose certain tariffs when he finds that they are matters of national security.

https://www.investors.com/news/econo...ing-trade-war/

[reckless]

The trade globalist wing of the White House has failed in its efforts to stop President Trump from following through on his promise to protect American industries and jobs by imposing tariffs on imported foreign products.

On Thursday, the White House announced that Trump is set to impose a 25 percent tariff on imported steel and a ten percent tariff on imported aluminum. The move follows through on Trump’s commitment to voters that he would be “tough” on China, which has been accused of dumping cheap foreign products in the U.S., undermining the country’s manufacturing base.

White House adviser Gary Cohn, Treasury Secretary Steve Mnuchin, and Defense Secretary James Mattis attempted but failed to stop Trump from imposing the steel and aluminum tariffs.

Another campaign promise kept to the citizens of this returning-to-greatness country of ours, thanks to President Donald J. Trump.

http://www.breitbart.com/big-governm...first-tariffs/

[elysiantraveller]

Originally Posted by reckless

Another campaign promise kept to the citizens of this returning-to-greatness country of ours, thanks to President Donald J. Trump.

http://www.breitbart.com/big-governm...first-tariffs/

Yup the free market loves it!

Dow plunges 420 points after Trump says tariffs are coming next week — with automakers and manufacturers getting hit the hardest

[Clocker]

Originally Posted by elysiantraveller

Yup the free market loves it!

Dow plunges 420 points after Trump says tariffs are coming next week — with automakers and manufacturers getting hit the hardest

But steel company stocks are doing great!

Or not.

As the broad stock market feels the pressure of President Trump's plan to impose 25% tariffs on all steel imports, even some steel stocks were under pressure early Friday on the stock market today.

Shares of U.S. Steel (X) slipped 3.8% to 44.25 shortly after the market open after BofA/Merrill Lynch downgraded the stock to neutral from buy, while bumping up its price target to 50 from 47.

...BofA/Merrill analyst Timna Tanners also sees reasons why the tariffs might not pack the punch that Trump expects, as well as some other reasons that the earnings lift will be restrained.

Tannners seems to question the sustainability of the tariffs, saying she expects steel prices to come down in 2019 due, in part, to World Trade Organization challenges. Further, she expects demand for domestically produced steel to be curbed as more steel content is imported via finished goods, rather than as unfinished steel, to get around the Trump tax.

Those danged foreigners can get around our tariffs? That's not fair.

[Clocker]

Apparently this trade thing is a lot easier than some of us thought.

“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,” Trump wrote in an early morning tweet.

“Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!” the president wrote.

It's good to be king!

http://www.breitbart.com/news/trump-...d-easy-to-win/

[woodtoo]

New jobless claims dropped to 210,000 last week lowest since 1969.

[elysiantraveller]

36 Hours in the life of a White House staffer:

- NSA Advisor to quit.

- President flips and stands with democrats on guns then flips back and apparently loves the Second Amendment.

- "trade wars are good."

[elysiantraveller]

Originally Posted by woodtoo

New jobless claims dropped to 210,000 last week lowest since 1969.

De-regulation is good.

Tariffs are the opposite of that.

[dlivery]

Originally Posted by woodtoo

New jobless claims dropped to 210,000 last week lowest since 1969.

And what about the ones that have given up looking

[Clocker]

American companies that use steel and aluminum as inputs warn that the tariffs will encourage foreign companies to export finished products to the US rather than raw materials.

Roy Hardy, president of the Precision Metalforming Association and Dave Tilstone, president of the National Tooling and Machining Association, said the steep tariffs “imperils the U.S. manufacturing sector, and particularly downstream U.S. steel and aluminum consuming companies, who alone employ 6.5 million Americans compared to the 80,000 employed by the domestic steel industry.”

“The tariffs will lead to the U.S. once again becoming an island of high steel prices resulting in our customers simply importing the finished part,” Hardy and Tilstone said.

https://www.redstate.com/sweetie15/2...can-consumers/

[reckless]

Originally Posted by elysiantraveller

Yup the free market loves it!

Dow plunges 420 points after Trump says tariffs are coming next week — with automakers and manufacturers getting hit the hardest

You ignored the multi-trillion dollar increase in stock prices since Trump's historic election so now you expect props for reminding us that market dropped 420 points yesterday?

How about new Fed Chair Powell telling everyone on Wednesday that it is probable we'll have 3, maybe 4 increases in interest rates? Don't think that was a small factor as well? Trump's tariff announcement was made without any hint, so to speak, it was coming. And this led to a severe reaction, yes, I agree.

This latest drop and volatility only makes for a buying opportunity in selected, high grade companies.

[reckless]

Originally Posted by Clocker

Apparently this trade thing is a lot easier than some of us thought.

It's good to be king!

http://www.breitbart.com/news/trump-...d-easy-to-win/

It's also good to be right, as Trump usually is.

The multinationals, the Chinese, and the one-world political elites have been in a trade war against the USA for decades. How'd you miss that?

We'll win this trade 'war' as well, if there is one. I say there won't be a 'trade war' because Trump is now affecting an American First trade policy instead of previous and normal selling-out and surrendering.

[elysiantraveller]

Originally Posted by reckless

You ignored the multi-trillion dollar increase in stock prices since Trump's historic election so now you expect props for reminding us that market dropped 420 points yesterday?

I love how you pick winners.

I'm pretty sure I addressed regulation/de-regulation a couple of posts up.

All indicators from anyone who pay's their bills from industries affected by this change is that its a bad thing. But go Trump...

[reckless]

Originally Posted by elysiantraveller

I love how you pick winners.

I'm pretty sure I addressed regulation/de-regulation a couple of posts up.

All indicators from anyone who pay's their bills from industries affected by this change is that its a bad thing. But go Trump...

At least we now know that you have very selfish reasons for hating Trump and his trade policies. Personally I do not want you or anyone to get hurt in life or business, but all you've done was knock Trump about his trade policy and you made it sound like you were all for free trade and anyone who differed --especially me-- was clueless.

I guess when you benefit from these trade deals thanks to the cards being dealt from the bottom deck it's all OK. 'I love free trade'. But when business doesn't go your way, as Trump's America First policy says, then all is wrong with Trump and his supporters. To guys like you, free trade is a one-way street -- your way only.

All I also know is that my successes in business and life was NOT predicated on bought-off and prostituted GOP politicians making un-American and America Last trade deals that sold out our manufacturing base and blue collar worker by the hundreds of thousands.

Sounds like you profit from this arrangement ... yet the American worker could go to hell as a result of these one-sided 'free' trade deals you advocate.

[woodtoo]

Originally Posted by dlivery

And what about the ones that have given up looking

Maybe they found work and aren't looking.