Thread: 'Wrong' to think Trump’s tariffs will 'destroy jobs and raise prices': Commerce secre

'Wrong' to think Trump’s tariffs will 'destroy jobs and raise prices': Commerce secretary

• By ALLISON PECORIN
  

Mar 4, 2018, 12:42 PM ET

Don Emmert/AFP/Getty Images, FILE

WATCHCommerce secretary says tariffs won't hurt jobs, calls threats of retaliation trivial

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President Donald Trump's secretary of commerce dismissed criticism that proposed tariffs on imported steel and aluminum would lead to a loss of U.S. jobs and price hikes for consumers.
“The total amount of tariffs we're putting on is about $9 billion a year. That's a fraction of 1 percent of the economy,” Commerce Secretary Wilbur Ross told ABC News Chief Anchor George Stephanopoulos on “This Week” Sunday. “So the notion that it would destroy a lot of jobs, raise prices, disrupt things is wrong.”

Michael Nagle/Bloomberg via Getty Images, FILE
Wilbur Ross, U.S. commerce secretary, speaks during an Economic Club of New York event in New York, Oct. 25, 2017.Trump proposed Thursday slapping a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum. The announcement led to stock market drops with some observers expressing concern that such an action could launch a global trade war.
Ross similarly dismissed concerns that European nations may respond by placing tariffs on American goods.
"It's some $3 billion of goods that the Europeans have threatened to put something on," the commerce secretary said. "Well, in our sized economy, that's a tiny, tiny fraction of 1 percent. So while it might affect an individual producer for a little while, overall it's not going to be much more than a rounding error.”
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The president’s authority to impose the tariffs comes from an investigation by Ross’ department which concluded that foreign metal imports pose a threat to national security. Ross stood by that Sunday, saying national security is defined “very broadly” to include not only military defense but also the economy, jobs and infrastructure.
"The truth is economic security is national security," he said.
Ross told Stephanopoulos that the U.S. tariffs would help to correct a decades-old trade policy that has disadvantaged America.

CNBC
U.S. Commerce Secretary Wilbur Ross uses a can of Campbell's Soup to defend steel and aluminum tariffs in this screen grab from CNBC, March 2, 2018.more +"Think about it, we have unilaterally given away all kinds of concessions ever since the end of World War II," Ross said. "In the beginning that was probably good policy to rebuild Europe and rebuild Asia after the ravages of the war. The mistake that our trade negotiators made way back then and continued to make was not time-limiting it. Concessions that were perfectly reasonable to make to Germany in 1945 or China in 1945 don't make sense anymore.
Trump also defended the tariff plan in tweets Saturday, citing the U.S. trade deficit and other countries' trade policies.

Donald J. Trump
✔@realDonaldTrump


If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!
11:53 AM - Mar 3, 2018

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Donald J. Trump
✔@realDonaldTrump


The United States has an $800 Billion Dollar Yearly Trade Deficit because of our “very stupid” trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!
11:43 AM - Mar 3, 2018

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http://abcnews.go.com/Politics/wrong...ry?id=53488768

You guys really need to go to the original source following the link at the bottom, because this is an interview with Commerce Secretary Wilbur Ross. It's very good and reading the article sucks, you need to watch the video. I don't how to post videos on here.

One thing he says in the video, which isn't all in the article itself, is that after WW2 it was good policy to give concessions to countries like Germany and China so they could rebuild, but that there should have been a time limit on those concessions because now we run a huge trade deficit with these countries and that those hundreds of billions of dollars are now in their pocket and not ours.

And employers have waged war on the average American worker for decades now, taking advantage of the situation of high unemployment and paying meager wages. This along with the huge profits they are making with cheap imported steel. So prices, although said by some may go up just a tiny little bit because of these tariffs, may not even go up at all, because instead of making huge profits, employers are just making really big profits, and may not even pass the cost on to the consumer at all.

I watch FNS, and Chris Wallace is getting more sickeningly leftest the longer he is on. When the Secretary noted that the tariffs would raise can by less than a cent, and automobiles by $50, Wallace insisted on using the total cost to the country rather that the cost to each individual. The total number is impressive, but misleading. I want to know what it will cost me.

As to jobs, if we stop importing toys from China, there will be jobs lost in the import business. But more jobs will be created as those toys will be made by Americans. That is helpful to the country as a whole. But the media will harp on the lost jobs without balancing about the gained jobs. Typical slanted journalism.

Originally Posted by 6 Million Dollar Man

So prices, although said by some may go up just a tiny little bit because of these tariffs, may not even go up at all,

If your household is existing on $25,000 per year because that's how much you earn, if you get a job that pays $35,000 per year because more jobs are create, even a 10% increase in the price you pay for everything will not leave you worse off.

And, put my head in the sand, Chris Wallace with a SMIRK ON HIS FACE does not cite the numbers of putting American's back to work.

Paying taxes, paying into SS, Medicare, FICA, payroll taxes and the MATCHING employer taxes.

Getting people OFF welfare and food stamps!

HIRING AMERICAN'S WHO SPEND THEIR MONEY ON US SOIL...UNLIKE ILLEGAL ALIENS SENDING 40 BILLION BACK OVER THE BORDER!

He is old, scowl face curmudgeon that needs to retire!

They need to include in their messaging that the tariff only applies to imports. It does not apply to domestic steel and aluminum. All car companies and anyone else have to do to avoid the tariff is .... BUY AMERICAN!

Did you guys clink on the source link to see the video? Please do. There are things said in the video itself that aren't even mentioned in the stupid article. It's a very good video. He explains exactly why these tariffs are good for the American worker. All the scare-mongering is coming from crooked politicians who have invested in these overseas companies and don't give a sh*t about the American worker.

Every struggling American and every American who has a relative or friend who is struggling has only the corrupt cabal behind free trade treason to blame. I call it treason because that's what it is. They have depleted our manufacturing base, pushed tens of thousands of wonderful factories many of them crucial to our independence and national security and tens of millions of jobs overseas with absolutely nothing of benefit in return except a declining standard of living and trillions in national debt paying for the poverty it caused. How did this happen? We let too many of the foreign cabals into our country, giving them a "voice", and allowing them to impact our elections and influence our domestic policies through outrageous illegal and excess immigration policies.

The only type of person who supports "free trade" that costs Americans jobs, industries, investment and money supply is either a supreme idiot or a shit-hole globalist intent on bankrupting the United States.

Judy wrote (excerpt):

The only type of person who supports "free trade" that costs Americans jobs, industries, investment and money supply is either a supreme idiot or a shit-hole globalist intent on bankrupting the United States.

NAFTA and DR-CAFTA are also contributing factors to our illegal immigration problem.