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from the so-now-our-cars-and-buildings-will-all-cost-more dept.
US steel and aluminium imports face big tariffs, Trump says
President Donald Trump has said he will sign off on steep tariffs on steel and aluminium imports next week, hitting producers like Canada and China.
Flanked by US metals executives at the White House, he said a 25% tariff would be slapped on steel products, and a 10% tariff would be imposed on aluminium.
Mr Trump tweeted that the US was suffering from "unfair trade".
The US imports four times more steel than it exports, and is reliant on steel from more than 100 nations.
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(Score: 3, Interesting) by Virindi on Friday March 02 2018, @11:11PM (3 children)
This brings up a good point: letting the President unilaterally declare tariffs is very stupid.
Business needs to be able to plan, and if the playing field changes as the wind blows and rules are only valid until the next person completely reverses them, everyone is screwed. That's a recipe for a less vibrant market, and victory for the state subsidized producers elsewhere who can weather storms with the help of government coffers.
(Score: 2, Funny) by Ethanol-fueled on Saturday March 03 2018, @01:54AM (2 children)
Protectionism emerged from the great depression. It was a pretty sane strategy until we were drawn into WWII by Stan Lee. Stan, aka Stanley Martin Lieber, a known womanizer, drew America into WWII to fight for his own interests by turning a wimpy but suggestable American loser into the greatest Nazi-killing frisbee-thrower who ever lived.
You can thank the proud Blacks of Wakanda for producing the chemical-makeup-undisclosed alloy called "vibranium" used to make Cap's legendary frisbee. African blacks enabled American expansionism, it's all their fault!
(Score: 2) by Azuma Hazuki on Saturday March 03 2018, @05:22AM (1 child)
The Vibranium hype isn't all it's cracked up to be. Stupid thing seems to eat an entire pack of AA batteries a week...
I am "that girl" your mother warned you about...
(Score: 1, Funny) by Anonymous Coward on Saturday March 03 2018, @05:45AM
You're holding it wrong.