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Valued Social Butterfly
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Re: Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 11 of 17

All top economists, Republicans with enough patriotism to stand up to trump, Wall Street, business experts and Corporate America as a whole say the tariffs are a mistake. All indicators say that this is true. Yet trump supporters blindly follow trump and his insane thinking about tariffs.


"The only thing man learns from history is man learns nothing from history"
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Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 12 of 17

I just read an article on rising suicide rates of farmers.

 

"We've spoken to dairy farmers who are losing money on every pound of milk they sell," said Alana Knudson, co-director of the Walsh Center for Rural Health Analysis with the University of Chicago.  

 

As America's trading partners slap tariffs on U.S. crops, those prices are set to be further undermined. Meanwhile, the Federal Reserve's gradual raising of interest rates threatens the financing for many smaller farms. (thanks to the Trump GOP Tax Plan and Budget)

 

"A lot of our farmers take out operating loans so they can buy seed, fertilizer and spray. As we're looking at increasing interest rates, this is going to exacerbate financial vulnerability," Knudson said.

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Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 13 of 17

Tariffs targeting  China and the European Union are raising the possibility of a recession. Per CNBC, the worry is that tariffs could spark a larger global trade war that triggers inflation and kills U.S. growth just as it appears to be accelerating out of its post-crisis malaise.

 

"Our calculations suggest that a major trade war would lead to a significant reduction in growth," Michelle Meyer, U.S. economist at Bank of America Merrill Lynch, said in a note. "A decline in confidence and supply chain disruptions could amplify the trade shock, leading to an outright recession. We continue to believe that the probability of a full blown trade war is low but the risks are rising and it remains a key uncertainty to our outlook."

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Re: Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 14 of 17

China announced it is removing all tariffs on soybeans from India while leaving tariffs on American soy beans in place.  

 

Trump announced this morning that Harley Davidson will be "taxed like never before" if they move production offshore in response to European tariffs. It appears the moral of the story is to move all your production overseas or be punished for leaving some of it. 

 

Trump's trade war is going to make living in "Trump Country" a very expensive situation. 

 

 

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Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 15 of 17

Tariffs targeting  China and the European Union are raising the possibility of a recession.

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Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 16 of 17

Trump said Tuesday that Harley-Davidson will be "taxed like never before" if they move production overseas, and that the U.S. motorcycle company was using increased trade tensions as an excuse to justify planned changes in manufacturing.

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Trump's Trade War - - Why Are Businesses Planning Layoffs?

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Message 17 of 17

Trump's trade war is meant to protect American jobs — so why are businesses planning layoffs?

"We're in a whole new world," one trade expert said.
by Ben Popken / Jun.25.2018 / 11:55 AM ET / Updated 11:59 AM ET
 

President Donald Trump's escalating trade war is supposed to be about protecting American jobs — but the uncertainty it's creating is forcing some businesses to shift production overseas and cut back on hiring.

On Monday, Milwaukee-based motorcycle manufacturer Harley-Davidson announced it would be moving the production of vehicles bound for Europe to internat...to avoid what it estimated would be $100 million in annual tariffs.

 
 

The move — which triggered a market selloff, sending the Dow Jones down almost 500 points — was in reaction to the E.U.'s raising tariffs on U.S.-produced motorcycles from 6 percent to 31 percent. The tariffs were in retaliation for Trump's levying tariffs on imported aluminum and steel.

 

More at link:

 

https://www.nbcnews.com/business/economy/trump-s-trade-war-meant-protect-american-jobs-so-why-n88636...


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