Obama slaps 522% tax increase on chinese steel. Will you hail trump?

tsuke said:
Obama admin increasing tariffs. I thought libs said dangerous don was insane for bringing this up and would cause the US economy to collapse?
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Old news.

Not much room for the Teflon Don to slap additional tariffs on Chinese steel, is there?

Perhaps John Miller can explain how Trump will bring back American steel jobs.
 
Celticguy said:
Trade wars were to be the result of merely suggesting it.
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You think Obama only took action because of the Teflon Don?


Tariffs, combined with countervailing duties as high as 236 percent announced on Nov. 3, create a barrier to imports of steel from China, said Caitlin Webber, an analyst at Bloomberg Intelligence in Washington.

“A 500 percent duty is obviously prohibitive,” Webber said in an interview. “The lower ones are much less prohibitive and would probably have a lower impact on imports.”

U.S. steelmakers have filed three sets of cases against imports of hot-rolled, cold-rolled and corrosion-resistant steel after deliveries from abroad surged. The price of hot-rolled steel coil, the benchmark product, is down about 40 percent this year, with domestic mills idling as much as 38 percent of capacity after imports climbed by 38 percent in 2014.

Imports of all steel products through October rose 3.9 percent in 2015. The Commerce Department estimated that the value of imports of anti-corrosive steel -- coils of the metal which have been coated with zinc or other treatments to prevent rust -- from the target countries to be $2.16 billion.

http://www.bloomberg.com/news/articles/2015-12-22/u-s-commerce-department-to-put-256-tariff-on-chinese-steel

Will John Miller comment?
 
It is an election year, and US presidential candidates have been ramping up the rhetoric on what they say are unfair trade practices by China.

US steel makers say that the Chinese government unfairly subsidises its steel exports. Meanwhile China has been under pressure to save its steel sector, which is suffering from over-capacity issues because of slowing demand at home.
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China's Ministry of Finance has not directly responded to the US ruling but on its website this morning it has said that China will maintain its tax rebate policy for steel exports as part of its efforts to help the bloated steel sector recover.

These tax rebates are seen as favourable policies to shore up ailing steel companies in China, and to avoid massive job losses. Expect more fiery rhetoric from the US on China's unfair trading practices soon.
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we need a whole new economic relationship with China..too much tit for tat stuff
 
Massa Obama just showed that Trump's views on tariffs are correct. Sorry Hillary.

So libs. Is Massa Obama trying to tank the economy?
 
Legion Troll said:
How so?
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This effects coal country so to speak and it is a purely political move brought on so that Trump can't do it when he becomes president and be able to take credit. However Trump will get credit anyway, because the voters are seeing the game and will elect Trump the new referee
 
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