price of steel from China on the rise

[lamanated]

heard on NPR radio that the US is putting a 266% duty on steel imported from China

 

[redneckdan]

About time. Steel dumping is killing us up here on the Range.

 

[Texasmark]

Anybody know the tariff on import tire dumping that was imposed a few years ago when tire prices went through the roof?

 

[Industrial Toys]

I know I have been sleeping (being sick) but did TRUMP become Pres?

 

[LD1]

Sounds like it will drive the cost of steel up, and the scrap down even further. Who does it benefit other than the big guys?

 

[smstonypoint]

Sounds like it will drive the cost of steel up, and the scrap down even further. Who does it benefit other than the big guys?

Certainly not American companies that use steel (e.g., Ford, GM, etc.) and certainly not American consumers.

Steve

 

[smstonypoint]

Anybody know the tariff on import tire dumping that was imposed a few years ago when tire prices went through the roof?

In his 2012 State of the Union address, President Obama claimed that "over a thousand Americans are working today because we stopped a surge in Chinese tires." The tire tariff case, decided by the president in September 2009, exemplifies his efforts to get China to "play by the rules" and serves as a plank in his larger platform of insourcing jobs to America.

However, our analysis shows that, even on very generous assumptions about the effectiveness of the tariffs, the initiative saved a maximum of 1,200 jobs. Our analysis also shows that American buyers of car and light truck tires pay a hefty price for this exercise of trade protection. According to our calculations, .... the total cost to American consumers from higher prices resulting from safeguard tariffs on Chinese tires was around $1.1 billion in 2011. The cost per job manufacturing saved (a maximum of 1,200 jobs by our calculations) was at least $900,000 in that year. Only a very small fraction of this bloated figure reached the pockets of tire workers. Instead, most of the money landed in the coffers of tire companies, mainly abroad but also at home.

The additional money that US consumers spent on tires reduced their spending on other retail goods, indirectly lowering employment in the retail industry. On balance, it seems likely that tire protectionism cost the US economy around 2,531 jobs, when losses in the retail sector are offset against gains in tire manufacturing. Adding further to the loss column, China retaliated by imposing anti-dumping duties on US exports of chicken parts, costing that industry around $1 billion in sales.

http://www.iie.com/publications/pb/pb12-9.pdf

Who would have thunk it?

Steve

 

[newbury]

As always we want AMERICAN jobs at AMERICAN wages producing AMERICAN products but we want to buy them at Walmart/Chinese prices.

Wait until we have a $15/hr minimum wage and the people that earn that will find it costs three times as much for a hamburger.

 

[LD1]

The company I work for was in one of those anti-dumping suits. Regarding refrigerant. Same deal, wanting to tax the crap outta the imports so they cost as much or more than the domestic mfg sell for. That way, the domestic mfg canmprotect their higher price levels and profits. Sure, good for the company and good for my profit sharing check.....but beyond that, it makes everything HVAC related more expensive for the consumer.

Now I understand both sides of the argument. And understand wanting to protect out jobs HERE. But who is the one that decides what products/industries to effect? The refrigerant mfgs teamed up and lobbied hard to get this passed. Is that all its about? Who can lobby the hardest? What if domestic tool mfgs teamed up and got what they wanted. All of the sudden, no northern tool, harbor freight, etc. You either pay snap-on or Mac prices, or pay those prices for harbor freight?

 

[newbury]

The company I work for was in one of those anti-dumping suits. Regarding refrigerant. Same deal, wanting to tax the crap outta the imports so they cost as much or more than the domestic mfg sell for. That way, the domestic mfg canmprotect their higher price levels and profits. Sure, good for the company and good for my profit sharing check.....but beyond that, it makes everything HVAC related more expensive for the consumer.

Now I understand both sides of the argument. And understand wanting to protect out jobs HERE. But who is the one that decides what products/industries to effect? The refrigerant mfgs teamed up and lobbied hard to get this passed. Is that all its about? Who can lobby the hardest? What if domestic tool mfgs teamed up and got what they wanted. All of the sudden, no northern tool, harbor freight, etc. You either pay snap-on or Mac prices, or pay those prices for harbor freight?

Yup, your catching on. It's called politics, not ethics.