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Treasured Social Butterfly
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"Beans" VS Steel

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The nickname for soybeans in farm country is "beans". I know, I lived there for years.  Trump increased the tariff on steel and steel producers immediately raised their prices to match the higher price of Chinese steel thus passing Trump's tariff on to the folks who use steel in manufacturing. This raises the cost of products produced in America while doing nothing to products made with steel in China and imported. 

 

China raises its tariff on beans and many other nations increase their exports to China. This forces American farmers to reduce their prices to be competitive. 

 

So, Trump's policies are a triple hammer for the economy.  Steel prices up.  Costs of domestic products made with steel are up while Chinese steel products stay the same. Bean profits drop. 

 

What what the Roy Tillerson quote? Oh yes "What a moron!".

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