You're the person making wild claims that "Manufacturers are NOT happy with Trump ".
I posted hard evidence that your assertion is wrong. You nitpicked the age of the source, and I gave an even better one.
I'm talking about the increased domestic automobile production costs due to the 25% steel tariff. The WSJ estimated it will increase the cost of a new car by $300. Big Whoop. You act like the sky is falling. For most other consumer goods, the cost will be negligible.
Why would international companies be happy ? I don't care if Whirlpool doesn't like the tariff Trump put on washing machines. I guess they will have to stop outsourcing to Mexico. If we tax their imports, and if we're the largest consumer market for their product, it no longer makes business sense to move out of the US does it ?
Your money.cnn hyperlink doesn't even work. So I have no idea what point you're trying to make about 25% car tariffs.
You know we tax EU automobile imports at just 2.5%, and they tax our cars at 10% ? Would you defend that ?
My point about mfg's not being happy was concerning the tariffs, not taxes.
WSJ #''s are from March, mine are from July, and from different analysis. I already covered in another topic citing more sources, but the jist is that a it's a few thousands more, with the elements that I talked about being relevant.
Whirlpool likes the tariffs, their competitors don't. Again, research.
I don't pay attention to EU tariffs, because they aren't threatening 200billion+ worth of tariffs. But getting rid/reducing the 10% tariff would be fine, even though our cars just aren't popular there and price isn't why. But we love their shit and the lower tariff increases our FDI for that sector, unlike them.
No, it will always make sense to have mfg plants outside of the U.S., not just for costs reasons domestically, but especially with automation and the shortening of supply chains that will come with it, per market. Until then we'll pay for mfg here with higher prices, and also less foreign investment in our nation. All of that has consequences too.
In the long term, trade wars slow economic growth. They create more layoffs, not fewer, as foreign countries retaliate. The 12 million U.S. workers who owe their jobs to exports could get laid off.
Consultant Oxford Economics predicted the trade war could cost the global economy $800 billion in reduced trade. That could slow growth by 0.4 percent. It's occurring at the same time that oil prices and interest rates are rising.
Over time, trade wars weaken the protected domestic industry. Without foreign competition, companies within the industry don't need to innovate. Eventually, the local product would decline in quality compared to foreign-made goods.
