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#1 Mar 25, 2018 8:23 pm

Expat
Active

Is Trump going to have another bankruptcy

This time not one of his failed business ventures, but put Amerikee into a financial free fall with his trade war.

Countries seem to be lining up to get ready to hit the ball back into America's court. China is likely to wipe the floor with him, and decimate some farming and engineering businesses.... Probably the same folks that voted him in.

Industries have gone to the wall over the millennia due to simple engineering progress, or changes in taste. The steel workers needed to suck it up, and retrain as something else. As it is, even (unlikely) that steel is able to be manufactured economically, it will be done mostly by machinery and robots, not flesh and blood workers.

Instead of making America great IN the World, he seems intent on shrinking it back to an isolationist self sufficient dwarf of what it was.

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#2 Mar 25, 2018 8:40 pm

Real Distwalker
Active

Re: Is Trump going to have another bankruptcy

His trade policy is beyond stupid.  It is idiotic.   Here is the reality.  About 73 percent of the steel used in the US is of domestic origin.  Only abut 0.9 percent is from China.   

Furthermore, driving up the cost of steel will negatively impact cost, and therefore, profits of companies that consume steel as part of their manufacturing process.  These companies employ more that 60 employees for every person employed in the steel industry.

Finally, you are correct about automation.   In 1980 it took 11 man hours to produces a ton of steel.  Now that is less than one hour.  American steel production is at a near historic high right now.  Steel production, however, is way down.  You won't make any jobs by blocking import.  You will just enrich steel owners and CEOs at a cost to taxpayers.

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