AI
Friday, March 02, 2018 5:02:19 PM
One stat: 16 steel stocks market cap up $1.2 bn., while the rest of S&P down $400 bn. That's from the video here ..
https://www.cnbc.com/2018/03/01/aluminum-tariffs-bigger-concern-than-steel-veteran-trader-art-cashin.html?recirc=taboolainternal
Losers?
The Real Risks of Trump’s Steel and Aluminum Tariffs
A higher price for metals isn’t the main concern; it’s the chance that the global trade system will be undermined.
[...]
The most immediate losers are the industries that rely on steel and aluminum as an input and will face higher prices. That includes some of the nation’s biggest industries: the automobile sector; aerospace; heavy equipment; and construction. In short, the chassis of a Ford, the body of a Caterpillar bulldozer, the wings of a Boeing aircraft, and the steel girders inside a New York skyscraper are all about to get more expensive.
[...]
The risk comes from the potential ripple effects.
Affected countries may well retaliate by ordering tariffs on American goods, and they could carefully target goods to cause economic or political pain. American exporters — whether they sell passenger airplanes or soybeans — should be nervous about the next shoe to fall. There are few winners in an all-out trade war like one that enveloped the world economy in the 1930s.
In particular, the Trump administration’s invocation of national security concerns could set a precedent in which China and other nations are willing to use national security as grounds for tariffs, hurting the ability of the World Trade Organization to arbitrate disputes.
The real risk isn’t that steel and aluminum are a bit more expensive, though that is likely to be the case. It’s that an entire system of global trade, which the United States helped build, might be undermined.
https://www.nytimes.com/2018/03/01/upshot/trump-tariff-steel-aluminum-explain.html
Trump is not at all worried about poisoning relationships with trading partners, but is simply acting as the bully boy he basically is.
Bush and Obama targeted sanctions. To do the same would not have been good enough for 'I'll fix what all past presidents failed at', Trump.
Trump sees himself as having the biggest bat, which thanks to presidents and others before him, actually he has.
These are the biggest winners and losers of a global trade war
Harry S. Dent Jr., Economy & Markets
Nov. 21, 2016, 9:04 PM
[...]
[...]
http://www.businessinsider.com/countries-most-affected-by-a-trade-war-2016-11?IR=T
The ball is now in the hands of other countries. How they react will determine just how easy (he says) Trump's trade war will be. Or not.
https://www.cnbc.com/2018/03/01/aluminum-tariffs-bigger-concern-than-steel-veteran-trader-art-cashin.html?recirc=taboolainternal
Losers?
The Real Risks of Trump’s Steel and Aluminum Tariffs
A higher price for metals isn’t the main concern; it’s the chance that the global trade system will be undermined.
[...]
The most immediate losers are the industries that rely on steel and aluminum as an input and will face higher prices. That includes some of the nation’s biggest industries: the automobile sector; aerospace; heavy equipment; and construction. In short, the chassis of a Ford, the body of a Caterpillar bulldozer, the wings of a Boeing aircraft, and the steel girders inside a New York skyscraper are all about to get more expensive.
[...]
The risk comes from the potential ripple effects.
Affected countries may well retaliate by ordering tariffs on American goods, and they could carefully target goods to cause economic or political pain. American exporters — whether they sell passenger airplanes or soybeans — should be nervous about the next shoe to fall. There are few winners in an all-out trade war like one that enveloped the world economy in the 1930s.
In particular, the Trump administration’s invocation of national security concerns could set a precedent in which China and other nations are willing to use national security as grounds for tariffs, hurting the ability of the World Trade Organization to arbitrate disputes.
The real risk isn’t that steel and aluminum are a bit more expensive, though that is likely to be the case. It’s that an entire system of global trade, which the United States helped build, might be undermined.
https://www.nytimes.com/2018/03/01/upshot/trump-tariff-steel-aluminum-explain.html
Trump is not at all worried about poisoning relationships with trading partners, but is simply acting as the bully boy he basically is.
Bush and Obama targeted sanctions. To do the same would not have been good enough for 'I'll fix what all past presidents failed at', Trump.
Trump sees himself as having the biggest bat, which thanks to presidents and others before him, actually he has.
These are the biggest winners and losers of a global trade war
Harry S. Dent Jr., Economy & Markets
Nov. 21, 2016, 9:04 PM
[...]
[...]
http://www.businessinsider.com/countries-most-affected-by-a-trade-war-2016-11?IR=T
The ball is now in the hands of other countries. How they react will determine just how easy (he says) Trump's trade war will be. Or not.
It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”
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