Tariffs for Imported Steel and Aluminum
President Trump announces Tariffs for Steel and Aluminum Imports starting next week. This is not a surprise considering our President has mentioned this plan before.
Construction companies bypass American Steel and Aluminum because its obviously cheaper to obtain in other countries and import it.
This is no longer the case; with the added tariffs; the price increase will make sure companies will buy from within. A 25% increase on imported steel and a 10% increase on imported aluminum.
The Dow plummeted 400 points after the announcement.
I would think companies such as Alcoa will profit from increased sales. The interesting thing is that Alcoa is the first company to report earnings each quarter and usually sets the bench mark for the upcoming earnings season to see if the economy is in good condition.
Credit: MarketWatch
Remember Ross Perot? I often wonder what would have happened had he been elected as the dark horse-long shot. Instead Bill Clinton got elected. Global enterprises are good, but not always fair- not to the U.S. Maybe this is changing too fast? I don't know, but hope it helps our economy.
Yes... Ross Perot was the candidate that became rich from renting computers. I don't honestly know the state of our economy. I live in Silicon Valley so it always seems very good here. But I hear other areas of the United States are suffering from unemployment and poverty. It might just be cooperate power houses doing well and carrying the economy. We are 2 years overdue for a recession and for all I know we are currently in one but wont find out until its being reflected on in the future.
Great post and news. The fastest way to grow the economy is to bring the manufacturing back. By making products produced in other countries the same price, if not more, than locally made items, we would start buying American made goods again. What most people don't realize is the country used to be funded only by import tariffs.
I'm okay with importing goods, but only if they are quality products. People are more willing to pay the higher price from the import tax in that situation. When it comes to raw material like metal, stone, wood, etc., we should want to only buy American. The result will end up being more jobs and lower material costs.
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